The official ownership of the brand belongs to IFX Brokers Holdings (Pty) Ltd. This is a company registered in 2016 in South Africa and actively provides services to African countries.
In general, that’s why they don’t need such strict regulations. Thus, there is an exemption. The United States is quite strict when it comes to finances. Even though, the broker claims not to provide services there, there are many clients from the US. But many more irregularities you can find further in this IFX Brokers review.
In general, companies that are offering such protection are Tier 1 regulated. For instance, FCA, BaFin or ASIC. Thus, IFX Brokers is not one of those.
In fact, 80% out of 10 comments are with the lowest rating. That is not a good sign, regardless of regulations. But if you were one of those, feel free to contact our refund specialists for advice.
Practically, the company believes traders would trust them because of regulations. If you are wondering if is IFX Brokers legit, you just have to check the reviews. Everything is nice and shiny as long as traders are depositing money.
Of course, there are benefits to the broker, such as Meta Trader software. Yet, it’s useless if you are going to have withdrawal problems. If that happens to you, don’t hesitate to reach us for help.
In general, the company has quite a wide range of restrictions. They don’t provide services to any European country or the United States. Plus many more. But do they really? Research shows that their clients mainly come from:
For a broker with already too many negative reviews, everything becomes questionable. But if you have any complaints about their service, feel free to share them with our team.
Indeed, mobile apps for MT4 and MT5 are available. Therefore, you won’t be losing any effectiveness while trading. Thus, you should rather trade with Tier 1 licensed brokers. Simply because of many more funds protection features.
Important to realize is that IFX Brokers don’t offer stocks. Which are one of the easiest classes to understand. Nevertheless, their offer consists of:
Account types with IFX Brokers mainly differ in costs. Starting with spreads, commissions and swap fees. But also margin and stop-out call percentages. The options are:
The most questionable condition with IFX Brokers is their leverage of up to 1:500. Without negative balance protection you can easily end up owing them money.
Besides, they have spreads double what they advertise as the minimum starting spread (1.3pips). The VIP account also has included a commission of $6 without clarification is it per lot or not.
According to reviews, IFX Brokers Holdings is not one of the most reliable companies. Processing time is in less than 24 hours and they have to verify your bank account. But of course, there you can expect all the potential issues you can imagine. Also, none of the withdrawal fees are revealed.
In the first place, you can always contact their regulator. Since ifxbrokers.com is already marked as an ingenuine broker, be prepared for potential withdrawal issues.
If the regulator can’t solve your problem, our specialized chargeback team can advise you about the steps of funds recovery. Most importantly, our first meeting is free and you don’t have any obligations. Therefore, get in touch today!
According to their reviews, nobody would say that the broker is genuine. But anyone would recommend you not to test your luck with them.
The minimum deposit requirement is $10 which would be approximately 190 South African Rands.
The company processes withdrawals in less than 24 hours. But some traders claim not to receive it. If that happens to you, contact our refund experts immediately.
The maximum leverage goes up to 1:500. But all other Tier 1 licensed brokers allow a maximum of 1:30 or 1:50, depending on regulation.
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