Finding unbiased and transparent IFX broker review is a difficult task these days. It requires an immense amount of research and hard work to find a trustworthy and reputable source.
Follow this article to find in-depth IFX brokers reviews to decide on opening your account on any trading platform easy for yourself. So without further due, let’s jump into the article.
IFX Brokers Review
Having its headquarters in South Africa, IFX brokers is one of the ruling forex broker firms of all time.
IFX brokers differentiate themselves from other fellow competitors based on various factors. let’s look at some of its features
Features that differentiate IFX brokers from other brokers
Diversity of assets
IFX brokers provide a diverse variety of assets and instruments to their customers to choose from.
Feature-rich trading services
The firm ensures to provide all of its clients with a feature-rich and competitive environment.
Excellent customer service
Providing the best customer service of all is the main motto of the firm. so the firm has never failed to deliver its customer with the best of their capabilities
History
The IFX brokers were founded in South Africa. The firm is named IFX Brokers after IFX brokers holding privately limited headquarters in Jefferey’s Bay, South Africa.
The firm is operated and controlled by the financial sector conduct authority of the country.
Recogniziation and Awards
Awards are the biggest and the most reputed source that one can utilize to proof
and showcase its expertise.
However, the IFX brokers have not got any awards listed on their official website. to which we can conclude that the firm has never participated in any of the forex award competition
Accounts and their major details
Different types of accounts and their details that IFX brokers posses
Here comes the most interesting part of the whole IFX brokers review. Providing a forex trading account to its clients is the main purpose of forex brokers to exist in the market. A forex account is the main account used to start his trading business in the forex market.
Different forex broker firms offer different types of accounts. For instance, you may find a firm offering various types of forex trading accounts to its customer. Alternatively, you may find a forex broker firm offering only a single type of trading account to its customers with certain conditions.
However, the IFX brokers have three types of tailored accounts to offer to their customers. The accounts are named ‘ IFX Standard, IFX Raw, and IFX Islamic Accounts.
All of the accounts have different features that distinguish them from others. Nevertheless, there are some common benefits that all of the three types of accounts offer.
- Fast money withdrawal
- Diverse deposit funds options.’
- Ease of changing password or pin at any time you want
- Efficient management of personal information
- High security of sensitive information
- Ease of keeping an eye on the account history
- Information regarding balance and equity
- Easy transfer of money between multiple accounts
- Upload all of the essential account documents
- Current position free and used margins
Some must known details of each of the three accounts
IFX standard account
Crucial specification:
- Market range: all of the instruments
- Minimum possible deposit: USD 100
- Minimum possible;e-trade size: 0.01 lot
- Commission from:none
- Spreads from: as low as 0.8 pipes
- Account-based currencies: ZAR, USD, GBP, and EUR
IFX raw account
Crucial specifications:
- Market range: all of the currencies, gold and silver
- Minimum possible deposit: USD 250
- Minimum possible trade size: 0.01 lot
- Commission from: USD 3 one way
- Spreads from: 0.3 pips
- Account-based currencies: USD
IFX Islamic account
crucial specifications
- Market range: all of the instruments
- Minimum possible deposit: USD 1000
- Minimum possible trade size:0.01 lot
- Commission from: none
- Spreads from: 0.8 pips
- Account-based currencies: USD
Details regarding cost. fee, commission, and spreads
Keeping a sharp eye on the fee that broker charges are an imperative way to evaluate the broker’s efficiency
The evaluation of fees often depends on various factors such as commissions, spreads, and margin requirements.
Margin trade
The margin requirement is the main capital of the account holder’s amount to start the trade.
Spread
Spread is the actual difference between the bid and the asked price. It is mostly expressed in pips that is the smallest possible increment of the price going up or down.
IFX brokers provided top market spreads to its customer with the help of true ECN connectivity. IFX brokers rest assures the spreads remain tight and liquidity deep in the whole market session
Leverage
Leverage is the tool that enables the forex trading account holder to open a larger position plus to get wider exposure in the trading market.
The leverage tool allows traders to expect a high potential profit; however, on the contrary, it also increases the risk of subsequent loss.
Leverage is normally expressed in terms of ratio, for instance, 1:2, 1:30, 1:12, 1:40, etc. It means that if the trader has got a thousand dollars in their respective trading account, they apply the leverage of 1:100, they can now control the position of $100000. And IFX brokers firm works in celebration of the leverage tool.
Bonuses
IFX brokers offer a captivating to its new customers. And that bonus is a 100% deposit bonus into their newly registered real account.
Users usually use this bonus deposit to hire forex brokers when the account is active, and they have to bear the expenses like any other account holder only.
Another way to get benefited b the bonus is t use it for trading practice, as there is no risk of losing your own money in the process.
Conclusion
To sum up, the IFX brokers are one the most trusted and reputable firms to start trading. It offers feature-rich trading platforms and diverse types of accounts and believes in delivering its customers the best customer service.
The firm has a wide range of assets and instruments for you to choose from. And now that you have read the transparent IFX brokers review. You can trust the firm with closed eyes.
