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/10

IFX Brokers

South Africa|5-10 years|
Financial Service Corporate|White label MT4|Suspicious Overrun|Medium potential risk|

https://www.ifxbrokers.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

IFXBrokers-Demo

United Kingdom
MT4
16

Influence

B

Influence index NO.1

South Africa 8.07

MT4/5 Identification

MT4/5 Identification

Full License

16
Server Name
IFXBrokers-Demo MT4
Server Location United Kingdom

Influence

Influence

B

Influence index NO.1

South Africa 8.07

Surpassed 89.71% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+27 879447273
support@ifxbrokers.com
https://www.ifxbrokers.com/
79 Da Gama Road, Jeffreys Bay, South Africa

Licenses

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

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
IFX Brokers
Proton Markets
RCPro

Contact number

English

+27 879447273

Broker Information

More

Company Name

IFX Brokers Holdings (Pty) Ltd

Company Abbreviation

IFX Brokers

Platform registered country and region

South Africa

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts
Previous Detection : 2024-05-20
  • 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!

WikiFX Verification

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IFX Brokers · 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:

home page

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.

General Information & Regulation

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.

Financial Sector Conduct Authority - FSCA license

Market Instruments

IFX Brokers offers investors 200+ financial instruments, including Forex, indices, commodities, and shares.

Market Instruments

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.

Account Types

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.

Deposit & Withdrawal

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.

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

2022-05-18 15:02

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.

WikiFX
2022-05-18 15:02
News
WikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading
1 Minute to Know IFX Brokers Before Trading

News1 Minute to Know IFX Brokers Before Trading

2022-05-14 12:30

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.

WikiFX
2022-05-14 12:30
News
1 Minute to Know IFX Brokers Before Trading
South Africa is experimenting with a new digital money

NewsSouth Africa is experimenting with a new digital money

2022-04-17 12:00

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.

WikiFX
2022-04-17 12:00
News
South Africa is experimenting with a new digital money
Behind the good news of a strong rand is some bad news in South Africa

NewsBehind the good news of a strong rand is some bad news in South Africa

2022-04-14 14:54

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.

WikiFX
2022-04-14 14:54
News
Behind the good news of a strong rand is some bad news in South Africa

User Reviews

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User comment

9

Comments

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EddieWu
more than one year
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.
2023-03-01 10:40
Reply
0
0
随遇而安6812
more than one year
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!
2023-02-15 17:36
Reply
0
0
Glockz syr
more than one year
l have been trading with this broker for a couple of months and their service is exceptional and withdrawals are processed immediately.
2022-12-06 15:24
Reply
0
2
晨光曦阳
more than one year
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?
2022-12-01 14:29
Reply
0
0
FX1050390472
more than one year
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.
2022-11-27 11:07
Reply
0
0
木火通明
more than one year
I don’t recommend this broker. Their FSCA license is exceeded, which means it doesn’t have any valid license currently. So, there is no guarantee of security when dealing with them.
2022-11-24 16:16
Reply
0
0
声色犬王
more than one year
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.
2022-11-24 11:41
Reply
0
3
mmasetshaba
more than one year
this broker manipulated my trade on mt4 not happy with them at all,i will not recommend any one to trade with them.
2022-11-03 04:15
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