Score
IFX Brokers
South Africa|5-10 years| https://www.ifxbrokers.com/
Website
Rating Index
MT4/5 Identification
MT4/5
Full License
IFXBrokers-Demo
Influence
B
Influence index NO.1
South Africa 8.07MT4/5 Identification
MT4/5 Identification
Full License
United KingdomInfluence
Influence
B
Influence index NO.1
South Africa 8.07Contact
Licenses
Licensed Institution：IFX Brokers Holdings (Pty) Ltd
License No.：48021
Single Core
1G
40G
1M*ADSL
- This broker exceeds the business scope regulated by South Africa FSCA(license number: 48021)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
Basic information
South Africa
5-10 years Regulated in South Africa Financial Service Corporate MT5 Full License White label MT4 Suspicious Overrun Medium potential riskAccount Information
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Website
ifxbrokers.com
Server Location
South Africa
Website Domain Name
ifxbrokers.com
Server IP
156.38.154.7
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | Exceeded |
| Market Instrument | Forex, indices, commodities, and shares |
| Account Type | Standard, Premium, VIP, Cent and Islamic |
| Demo Account | N/A |
| Maximum Leverage | 1:1000 |
| Spread | Vary on the account type |
| Commission | Vary on the account type |
| Trading Platform | MT4 & MT5 |
| Minimum Deposit | USD 10 |
| Deposit & Withdrawal Method | OZOW, PayFast, MasterCard, Visa, Wire Transfer, Skrill, Neteller and digital currencies |
IFX Brokers, a trading name of IFX Brokers Holdings (Pty) Ltd, is allegedly a multi-asset broker registered in South Africa that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and floating spreads from 0.5 pips on the MT4 and MT5 trading platforms via 5 different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that IFX Brokers holds an exceeded Financial Sector Conduct Authority - FSCA license. That is why its regulatory status on WikiFX is listed as “Exceeded” and receives a relatively low score of 4.09/10. Please be aware of the risk.
Note: The screenshot date is January 13, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
IFX Brokers offers investors 200+ financial instruments, including Forex, indices, commodities, and shares.
Account Types
IFX Brokers offers five trading accounts in total, namely Standard, Premium, VIP, Cent and Islamic accounts. The minimum deposit requirement varies from 10 USD to USD1000 depending on the account type. For basic choices, the Standard, the Cent and the Islamic accounts ask at least $10 to open an account, which is quite reasonable for most regular traders.
Leverage
The maximum trading leverage offered by IFX Brokers is up to 1:500, with the Cent account offering a higher leverage level, reaching up to 1:1000. Inexperienced traders are not advised to use such high leverage in case of high risks.
Spreads & Commissions
All spreads with IFX Brokers are a floating type and scaled with the accounts offered. The spread starts from 1.3 pips on the Standard and Cent accounts, from 1 pip on the Premium account, 0.5 pips on the VIP account, and 1.6 pips on the Islamic account.
As for the commission, the VIP account holders have to pay a commission of USD 6, while there is no commission on the other account types.
Trading Platform Available
IFX Brokers offers traders the most popular and advanced MT4 and MT5 trading platforms. They are the ideal forex trading platforms, offering traders a diverse range of trading assets and a multilingual trading interface. They offer comprehensive analytical tools, allow for multiple chart settings, support one-click execution, stop and limit orders, and are available for Desktop, iPhone/iPad and Android.
Deposit & Withdrawal
IFX Brokers supports traders to deposit & withdraw funds from their investment accounts via OZOW, PayFast, MasterCard, Visa, Wire Transfer, Skrill, Neteller and digital currencies. The minimum initial deposit requirement is just $10.
Withdrawals are processed during working hours (Monday–Friday 7-5). Withdrawals for South African clients are normally processed within 2-4 hours. Please note that withdrawals for International clients are processed immediately but can take up to 5 working days to reach your bank account.
Bonuses
IFX Brokers claims to offer certain bonuses on the Standard, the Cent and the Islamic accounts. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
IFX Brokers customer support can be reached by telephone: +27 879447273, email: support@ifxbrokers.com. You can also follow this broker on social networks such as Twitter and Facebook. Company address: 79 Da Gama Road, Jeffreys Bay, South Africa.
Pros & Cons
| Pros | Cons |
| • Multiple trading assets, account types and payment methods | • Exceed FSCA license |
| • Low minimum deposit (USD 10) | |
| • Both MT4 & MT5 supported |
Frequently Asked Questions (FAQs)
| Q 1: | Is IFX Brokers regulated？ |
| A 1: | No. It has been verified that IFX Brokers holds an exceeded Financial Sector Conduct Authority - FSCA license. |
| Q 2: | At IFX Brokers, are there any regional restrictions for traders？ |
| A 2: | Yes. IFX Brokers does not offer its services to the residents of certain jurisdictions such as EU Member States, Iceland, Norway, Liechtenstein, Afghanistan, Democratic People‘s Republic of Korea, Ghana, Iran, Iraq, Libya, Mongolia, Myanmar, Nicaragua, Panama, Somalia, Syrian Arab Republic, UAE, Uganda, United States of America, Canada, Yemen, and Zimbabwe. |
| Q 3: | Does IFX Brokers offer the industry-standard MT4 & MT5？ |
| A 3: | Yes. IFX Brokers supports MT4 and MT5. |
| Q 4: | What is the minimum deposit for IFX Brokers？ |
| A 4: | The minimum initial deposit at IFX Brokers to open an account is just $10. |
| Q 5: | Is IFX Brokers a good broker for beginners？ |
| A 5: | No. IFX Brokers is not a good choice for beginners. Though it advertises very well, don’t forget that their FSCA license is exceeded. |
Keywords
- 5-10 years
- Regulated in South Africa
- Financial Service Corporate
- MT5 Full License
- White label MT4
- Suspicious Overrun
- Medium potential risk
News
News WikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading
Commitment, transparency, and trust are the most important traits that a client looks for in a broker or trading organization. It's encouraging to realize that IFX Brokers, a South African internet trading broker system, was formed on these principles. For its clientele all across the world, the firm has come to represent all of this and more.
2022-05-18 15:02
News 1 Minute to Know IFX Brokers Before Trading
IFX Brokers is a South African-based online trading broker that offers its clientele ground-breaking technology. IFX Brokers facilitates one-stop trading and investing experience for private and institutional clients, providing them with the highly advanced MetaTrader 4 and Metatrader 5 platforms for online trading of more than 200 instruments across 6 asset classes.
2022-05-14 12:30
News South Africa is experimenting with a new digital money
The BIS Innovation Hub and the South African Reserve Bank have announced the completion of a prototype system that allows international settlements to be made using central bank digital currencies.
2022-04-17 12:00
News Behind the good news of a strong rand is some bad news in South Africa
A strong rand typically makes all South Africans happy since it represents a vote of confidence in the country. The rand, on the other hand, is being propped up by expectations that the South African Reserve Bank would undertake a more aggressive rate-hiking cycle to head off any stagflationary price shocks in food and petrol, while maintaining in lockstep with the US Federal Reserve's more hawkish posture.
2022-04-14 14:54
News THE CBN HAS UNVEILED THE RT200 FX SCHEME, WHICH AIMS TO INCREASE NON-OIL EXPORTS
The Central Bank of Nigeria (CBN) has established the RT200 FX Program, which aims to boost foreign currency revenues.
2022-04-13 16:53
News Ten major guides for Choosing a good broker for trading in South African
The fact that there are many brokers today in South Africa; seeking to attract traders to invest with them, makes it very difficult to choose the best broker for trading. Not all brokers are suitable for traders. Some are fraudulent sites manifesting as brokers and seeking for traders to scam. We have therefore provided in this article the basic guidelines for choosing a broker for trading; bothering on their proof of regulation and approval from WikiFX.
2022-04-12 12:09
Review 8
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TheeBlackBullFx
South Africa
i cant withdraw my funds while my account is verified
Exposure
2022-12-21
随遇而安6812
Australia
I really hope that all the traders can keep alert and never fall into the traps set by forex scammers. The forex trading by itself is already too risky, we should do everything to avoid scams!
Neutral
2023-02-15
晨光曦阳
New Zealand
I do want to try this broker. many advantages, mt4 & mt5, friendly minimum deposit, generous leverage offerings. However, I do dislike its high margin call level, which is not favorable to traders. Hmmm… who can give me some advice?
Neutral
2022-12-01
Evise
Mexico
IFX Brokers offers a wide range of account types to suit different traders' needs, with competitive leverage options that allow for greater flexibility and potential returns.
Positive
07-24
EddieWu
Malaysia
Actually, the it was a great customer service very much helpful and contact personally to resolve our issues. Furthermore, IFX brokers’ website is easily navigating, user-friendly.
Positive
2023-03-01
Glockz syr
South Africa
l have been trading with this broker for a couple of months and their service is exceptional and withdrawals are processed immediately.
Positive
2022-12-06
FX1050390472
Argentina
I have been trading with this company for 1 month and so far I am satisfied and will continue to trade. The minimum deposit is only $10, which allows more people to try it out. The fly in the ointment is that the customer service they offer is not available 24/7, which means I sometimes have to wait hours or even a day or two for a response.
Positive
2022-11-27
声色犬王
Australia
I traded with this broker six months ago, and it gave me a good impression. Everything is fine, their trading platform quite stable and smooth, professional customer support…it is quite friendly to beginners.
Positive
2022-11-24