General Information & Regulation
Founded in 1995, IFX Markets is a brokerage firm providing 24-hour forex trading services to hedge funds, money managers, and individual traders. IFX Markets is headquartered in Boston with offices in China and London, U.K. IFX Markets is not currently subject to any active regulation.
Market Instruments
In terms of trading intruments, IFX Markets offers 24-hour forex trading for hedge funds, money managers, and self traders.
Minimum Deposit
IFX Brokers offers a variety of different trading account types, including IFX Standard, IFX Raw, and IFX Islamic Accounts. The minimum initial deposit required by IFX Brokers as a start is USD100, which sounds relatively reasonable. However, since IFX Brokers is an unregulated broker, investors had better stay away from this broker.
IFX Markets Leverage
The maximum trading leverage for forex instruments offered by IFX Markets is up to 1:500, in terms of trading leverage. Unregulated brokers usually offers high trading leverage to attract traders, however, since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
IFX Markets Spreads
IFX Markets claims that its traders can trade 27 currency pairs with a spread of 0.2 pips on the EURUSD, 0.2 pips on the USDJPY, 0.2 pips on the GBPUSD, and 3 pips on the USDCHF. However, without any commissions mentioned, these two low spreads are likely to be here to attract new brokers.
Margin Requirements
The minimum trade size is 1 lot or 10,000 in the base currency. An account with a margin of 1% will open a position of $10,000 and require an initial margin of $100.
Deposit & Withdrawal
The minimum deposit requirement for IFX Markets is $500, and for deposits of $15,000 or more, users must use wire transfers. Additionally, there is no clear information about credit card transactions, IFX Markets will process user withdrawal requests within two business days, and for withdrawal over $25,000, only wire transfers are supported.
Customer Support
IFX Brokers provides traders with a professional customer support team that can be contacted via telephone, email, fax, online form, and social media.
2022-12-13 14:42
