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The WikiFX Score of this broker is reduced because of too many complaints!

IFX Markets

China|5-10 years|
Suspicious Scope of Business|Clone Firm United Kingdom|Suspicious Overrun|High potential risk|

http://www.ifx-cn.com

Website

Rating Index

Contact

4001815051
info@forexcg.com
http://www.ifx-cn.com
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Chinese (Simplified)

4001815051

Broker Information

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Company Name

City Index Australia Pty Ltd

Company Abbreviation

IFX Markets

Platform registered country and region

China

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 5
Previous Detection : 2024-06-24
  • The claimed United KingdomFCA regulation (license number: 113942) is verified as a clone firm. Please pay attention to the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The AustraliaASIC regulation (license number: 345646) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

IFX Markets · WikiFX Survey
Danger A Visit to IFX Markets in UK -- Finding No Office
United Kingdom

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IFX Markets · Company Summary

General Information & Regulation

IFX Markets, the company behind it called City Index Australia Pty Ltd, is registered in China. IFX Markets is a clone broker, with no regulation. Forex traders are advised to stay away from this broker.

Market Instruments

With IFX Markets, clients can trade among 27 currency pairs, with 2 point spreads on both EUR/USD and USD/JPY, and 3 point spreads in other major currencies (GBP/USD, USD/CHF).

Account & Leverage

IFX Markets seems to offer two accounts Standard with minimum deposit of $500 and Premium with minimum deposits of $25000, all with leverage of 1:50. which as a broker positioned more towards forex is tailored towards the investment requirements of most forex traders. The broker also offers a free demo account, which is an excellent means for prospective clients to conduct a test run of the brokers features before signing up for a live trading account.

IFX Markets operates under the auspices of the FCA, and as such is authorized to offer a maximum leverage of 1:50, which is standard for many regulated brokers in the industry, and does carry less risk than higher ratios offered elsewhere.

Trade Size

With IFX Markets, the minimum transaction size is 1 lot or 10,000 of the base currency. An account with a margin deposit of 1 percent would open a US$10,000 position and would require an initial margin deposit of US$100.

Spreads & Commissions

Traders can trade among 27 currency pairs, with 2 point spreads on both EUR/USD and USD/JPY, and 3 point spreads in other major currencies (GBP/USD, USD/CHF).

Sign-up is easy and efficient, with quick (within a minute) email confirmation. You can use one of 10 currencies to fund your account, but must start with at least $500, which is much less than some other popular Forex sites. Commissions are charged on the IFX Raw Account only, at $3 one way. Overall, IFX Brokers provides very competitive trading conditions.

Trading Platform Available

IFX Markets provides trading through a single proprietary platform, IFX Direct. The platform has garnered some positive feedback from users for its fast execution, with instant live access to Forex 24 hours a day, in certain trade sizes, at the click of a mouse.

The platform is both desktop and mobile compatible, allowing users to trade principal-to-principal instantly with all the liquidity you need and competitive, transparent prices.

Deposit & Withdrawal

With IFX Markets, you can use one of 10 currencies to fund your account, but must start with at least $500, which is much less than some other popular Forex sites.

You may use a bank check, but it may take up to five business days for some checks to clear. For deposits above $15,000, you must use a wire transaction. Unlike other sites, there is no clear information on using credit cards to complete transactions.

Customer Service

IFX Markets offers fairly limited customer support in the form of a telephone number and email support only. There is no live chat function for more pressing issues and no multilingual client support.

You can contact them with info@IFXMarkets.com

Customer support: +44 (0)20 7107 7079.

Post address:

Park House, 16 Finsbury Circus, London, EC2M 7EB, United Kingdom

News

WikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading

NewsWikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading

2022-04-20 16:16

The main qualities that a client looks for in a broker or a trading firm are commitment, transparency and trust. It is, therefore, heartening to learn that IFX Brokers, a South-Africa based online trading broker system, was founded on these values. The company has come to represent all this and more for its clients the world over.

WikiFX
2022-04-20 16:16
News
WikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading
WikiFX report: Nigerian Broker Kwakol Markets to Participate at the iFX EXPO Dubai 2022

NewsWikiFX report: Nigerian Broker Kwakol Markets to Participate at the iFX EXPO Dubai 2022

2022-04-20 16:11

Kwakol Markets takes pride in its young, dynamic and highly qualified leadership team.

WikiFX
2022-04-20 16:11
News
WikiFX report: Nigerian Broker Kwakol Markets to Participate at the iFX EXPO Dubai 2022

User Reviews

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3

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Mid2.DKk
more than one year
And let's not forget about the core issue here - the trading fees. I can tell you from my own experience that they are exorbitant. The spread and commission fees are some of the highest I've ever seen in my years of online trading.
2023-04-04 09:43
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0
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Peacemind326
more than one year
IFX Markets is what we call a "three no's" platform - no regulation, no reputation, and no transparency. Looking back, I have no idea why I was so dumb to start trading there in the first place. The product range is super limited and there aren't many trading tools available, which is a real pain if you're new to the game. What’s worse, their customer service is slow and unresponsive, leaving you with no support or guidance when you need it most.
2023-04-03 18:41
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0
0
学而不厌 诲人不倦
more than one year
The website of Huanhuo International can no longer be opened. According to the wikifx page, it is completely a scam company. A staff member visited the address it claimed was in the UK and found that there was no office at all! It is estimated that it is an illegal fund-raising platform fabricated by a few scammers.
2022-12-14 17:48
Reply
0
0
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