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No valid regulatory information, please be aware of the risk!
Note: IFP is to operate via the website - https://ifpmarkets.com/, which currently does not have any sponsors for us. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
General Information & Regulation
IFP, a trading name of IFP Markets, is allegedly a forex and CFD brokerage registered in the United Kingdom that claims to provide its clients with leverage up to 400:1 and floating spreads from 0.3 pips on the MT4 trading platform via four different live account types.
As for regulation, it has been verified that IFP currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.38/10. Please be aware of the risk.
IFP advertises that it is a forex and CFD brokerage that mainly offers forex currency pairs trading, as well as CFD trading on various tradable assets which are not specified directly.
IFP claims to offer four types of trading accounts - Mini, Gold, ECN and Platinum, with minimum initial deposit requirements of $250, $1,000, $3,500 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
The maximum leverage ratio provided by IFP is up to 400:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
All spreads with IFP are a floating type and scaled with the accounts offered. Specifically, the spread starts from 3.3 pips on the Mini account, 2.2 pips on the Gold account and 1.8 pips on the Platinum account, while only the ECN account can enjoy the tightest spreads from 0.3 pips.
Trading Platform Available
According to the information on the website, we found that IFP seems to give traders the world's most advanced and popularly-used MT4 platform. However, we have no way to confirm if it is available because the website states that it currently does not have any sponsors for us. Anyway, MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality. This trading platform offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Potential clients of IFP may deposit or withdraw via Visa and MasterCard, as well as bank wire, however, e-wallets such as Skrill and Neteller are not supported. The minimum initial deposit requirement is said to be $250,
IFPs customer support can be reached by telephone: +447451280570, email: firstname.lastname@example.org or email@example.com. Company address: Level 1, Exchange House, EK1 V8B United Kingdom.
Pros & Cons
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.
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