Overview of IS6FX
IS6FX is an unregulated broker based in Saint Vincent and the Grenadines, which raises significant concerns about the safety of funds and investor protection. The lack of regulation means that there are no safeguards in place to ensure fair trading practices and the security of client funds. The broker has been associated with suspicious regulatory licenses and has a low trust score, further indicating potentially fraudulent activities. While IS6FX offers a variety of market instruments for trading, including forex, precious metals, stock indices, energy, stocks, and cryptocurrencies, the risks involved with trading on this platform outweigh the potential benefits. The broker provides multiple account types on both the MT4 and MT5 platforms, but traders should be cautious due to the lack of regulatory oversight. IS6FX offers high leverage options, which can amplify potential profits but also increase the risk of significant losses. The spreads provided by the broker are relatively high compared to other market participants, particularly for major currency pairs. Deposits and withdrawals can be made through various methods, but users should be aware of the minimum deposit requirements and fees associated with withdrawals. IS6FX offers the popular MT4 and MT5 trading platforms, as well as a Virtual Private Server (VPS) service for automated trading. However, the overall lack of regulation, suspicious regulatory licenses, and potentially fraudulent activities associated with IS6FX make it a highly risky choice for traders.
Pros and Cons
IS6FX presents both advantages and disadvantages that should be carefully considered. On the positive side, the broker offers a wide range of market instruments for trading, including forex, precious metals, stock indices, energy products, individual stocks, and cryptocurrencies. They provide multiple account types on both the MT4 and MT5 platforms, catering to different trading needs. Additionally, IS6FX offers an impressive leverage option of up to 6000 times, allowing traders to potentially amplify their profits. They also provide a Virtual Private Server (VPS) service, for users who rely on automated trading software. On the downside, IS6FX lacks regulation from reputable financial authorities, which exposes traders to significant risk. The broker has been flagged for having a suspicious regulatory license and has been accused of engaging in fraudulent activities. The spreads offered by IS6FX are relatively high and not competitive compared to other brokers in the market. Furthermore, their customer support is primarily limited to an inquiry form, with a response time of up to 24 hours. It is crucial for potential traders to weigh these pros and cons carefully before deciding to trade with IS6FX.
Is IS6FXLegit？
IS6FX is not regulated by any reputable financial regulator. This means that the broker is not subject to any laws or regulations that are designed to protect investors. As a result, there is a high risk that you could lose your money if you trade with IS6FX.
There are a number of red flags that suggest that IS6FX is a scam. First, the broker does not have a valid license from any reputable financial regulator. Second, the broker has a very low trust score. Third, the broker has been accused of engaging in fraudulent activities.
Market Instruments
IS6FX offers a range of market instruments for trading. Here are the types of instruments available:
Forex: IS6FX provides various currency pairs for trading, such as USDJPY, GBPUSD, EURUSD, GBPAUD, GBPJPY, EURGBP, and AUDUSD. Each currency pair has its own buying and selling prices, with associated fluctuations and percentage changes.
Precious Metal: Traders can also trade precious metals through IS6FX, specifically XAUUSD (Gold). The buying and selling prices of gold are provided, along with the percentage change in value.
Stock Index: IS6FX offers trading in stock indices, including DAX, HK50, JP225, NASDAQ, SP500, UK100, and US30. Each stock index has specific conditions, such as leverage, minimum and maximum transaction amounts, spreads (in pips), long and short swaps, and trading hours.
Energy: Traders can participate in the energy market through IS6FX, particularly in crude oil. Two types of crude oil are available: BRENT and WTI. Conditions for trading include maximum transaction amount, spreads (in pips), long and short swaps, and trading hours.
Stock: IS6FX provides the opportunity to trade individual stocks. Some of the available stocks include Apple (AAPL), Airbnb (ABNB), Aurora Cannabis (ACB), Amazon (AMZN), Boeing (BA), Alibaba (BABA), BHP Group (BHP), and more. Each stock has its own contract size, spreads (in pips), long and short swaps, and specific trading hours.
Crypto Currency: IS6FX allows trading in various cryptocurrencies, including ADAEUR, ADAJPY, ADAUSD, AVXEUR, AVXUSD, BCHEUR, BCHJPY, BCHUSD, BNBEUR, BNBJPY, BNBUSD, BTCEUR, BTCJPY, BTCUSD, DOGEUR, DOGUSD, DOTEUR, DOTJPY, DOTUSD, ETHEUR, ETHJPY, ETHUSD, LNKEUR, and LNKUSD. Each cryptocurrency has its own category, maximum leverage, minimum and maximum transaction amounts, spreads (in pips), long and short swaps.
Account Types
IS6FX offers multiple account types on both the MT4 and MT5 trading platforms.
MT4 Account Types:
1. Micro Account: This is a small trading account suitable for beginners. It offers a wide range of currency pairs, precious metals, stock indices, and energy brands. The leverage varies based on the account balance, with options ranging from 1,000 times to 100 times. The order units and transaction volumes differ based on the asset type. The minimum deposit amount is $50, and there is an account maintenance fee of $5 per month if there is no trading activity for 3 months.
2. Standard Account: This account type allows trading with giveaway bonuses. It has the same features as the Micro Account, including the range of tradable assets, leverage options, and order units. The minimum deposit amount and account maintenance fee are the same as the Micro Account.
3. Pro Account: This account offers narrow spreads and is designed for experienced traders. It has the same asset selection as the other accounts but offers a leverage of 400 times for Forex and precious metals. The minimum deposit amount is $1,000, and there is an account maintenance fee of $5 per month if there is no trading activity for 3 months. The usage of expert advisors (EAs) is not allowed.
4. 6,000:1 Leverage Account: This is a limited account with the industry's largest leverage. It offers the same range of assets as other accounts, but the leverage for Forex and precious metals is 6,000 times. The minimum deposit amount is $50, and there is an account maintenance fee of $5 per month if there is no trading activity for 3 months. There are certain restrictions on fund transfers and the usage of EAs.
5. EX Account: This is an Exchange account where bonuses can be converted into cash. It provides leverage options, asset selection, and order units similar to other account types. The leverage for Forex and precious metals varies based on the account balance. The minimum deposit amount is $50, and there is an account maintenance fee of $5 per month if there is no trading activity for 3 months. Financial transactions are not allowed with this account.
MT5 Account Types:
1. Micro Account: Similar to the MT4 Micro Account, this account type is suitable for beginners. It offers a wider range of currency pairs, precious metals, stock indices, energies, and stocks. The leverage options, order units, and transaction volumes are the same as the MT4 Micro Account. The minimum deposit amount and account maintenance fee are also identical.
2. Standard Account: Similar to the MT4 Standard Account, this account type allows trading with giveaway bonuses. It offers a wider selection of assets compared to the Micro Account. The leverage options, order units, and transaction volumes are the same as the MT4 Standard Account. The minimum deposit amount and account maintenance fee are also the same.
3. EX Account: Similar to the MT4 EX Account, this account type allows bonuses to be converted into cash. It offers a wide range of currency pairs, precious metals, stock indices, energies, and stocks. The leverage options, order units, and transaction volumes are the same as the other account types. The minimum deposit amount and account maintenance fee are the same as well. However, financial transactions are not allowed with this account.
4. Kureptor Account: This is an account for virtual currency trading. It offers an extensive range of currency pairs, precious metals, spread indices, energies, spreads, and cryptocurrencies. The leverage options for Forex and precious metals are the same as other accounts, but for cryptocurrencies, it can go up to 1,000 times. The order units and transaction volumes differ based on the asset type.
How to Open an Account？
To open an account with IS6FX, follow these steps:
Visit the IS6FX website and click on “Open an account” or “Open a demo account”.
2. Provide your email address in the designated field. It should be up to 45 characters long.
3. Enter your email address again for confirmation.
4. Enter your first name and last name in half-width alphabet characters.
5. Select the platform type you prefer: MT4 or MT5.
6. Choose the desired account type from the options provided: Standard account, Micro Account, EX account, or Kureptor account. You can click for more details on each account type.
7. Select the currency for your account from the available options: JPY, USD, BTC, ETH, USDT, or USDC. Note that the cryptocurrency account type does not qualify for an account opening bonus.
8. Create a password for your account. It should consist of at least 8 alphanumeric characters.
9. Before proceeding, it is assumed that you have agreed to the terms of use and guidelines of IS6FX.
10. Finally, review the information you provided and ensure its accuracy.
Leverage
IS6FX offers an impressive leverage option of up to 6000 times. This high level of leverage allows traders to magnify their potential profits and losses significantly. With such leverage, traders can amplify their exposure to the market and potentially achieve higher returns on their investments. It provides an opportunity for traders to take larger positions with a smaller initial investment, enhancing their trading opportunities.
Spreads
The spreads offered by IS6FX are prominently featured on their website for easy reference. However, it is worth noting that the spreads are relatively high and not competitive when compared to other brokers in the market. In particular, the FX majors exhibit notably elevated spreads, such as the EUR/GBP pair with a fixed spread of 2.9, whereas many brokers offer spreads below or around 1 pip for the same pair.
Deposit & Withdrawal
IS6FX offers various deposit options to its customers. The company continuously works on improving the speed of deposits and withdrawals. The available deposit methods include credit card/debit card (JCB and MasterCard), domestic bank remittance, Bitcoin (BTC), Ethereum (ETH), Tether (USDT) ERC-20, and USDCoin (USDC) ERC-20. The minimum deposit amounts vary depending on the currency, ranging from 50 USD or 5000 JPY to 0.003 BTC or 0.05 ETH. All deposits are free of charge, and the processing time is typically within 30 minutes for cryptocurrencies and immediate for credit card/debit card deposits.
Users can apply for withdrawals during the day, and different withdrawal options are available. Domestic bank remittance is offered for JPY withdrawals, with a minimum withdrawal amount of ¥5,000 or $50 and a processing time of 1-3 business days. Bitcoin (BTC), Ethereum (ETH), Tether (USDT) ERC-20, and USDCoin (USDC) ERC-20 withdrawals are also supported, each with its own minimum withdrawal requirements and processing times. Free withdrawals are allowed once a month, and subsequent withdrawals incur a fee of 2% of the withdrawal amount, with a flat rate of ¥4,500 or $45 for withdrawal amounts up to ¥200,000 or $2,000. It is important to note that withdrawals cannot be requested directly from the user's account. Additionally, withdrawing without any prior trading activity will result in a fee of $45 or ¥4,500.
Trading Platforms
IS6FX provides a range of trading platforms to cater to the diverse needs of its clients.
MT4
The primary platform offered is MT4, which is available for Windows, MacOS, iPhone/iPad, Android, and WebTrader. To install MT4, users need to download the software and execute the provided setup file. Once logged in, traders can access the platform and enjoy its features, including the ability to monitor up to four charts simultaneously. MT4 is compatible with various devices, including Windows, MacOS, iPhone/iPad, and Android.
MT5
Another platform offered by IS6FX is MT5, which is also available for Windows, MacOS, iPhone/iPad, Android, and WebTrader. The installation process for MT5 is similar to MT4, requiring users to download and run the provided setup file. MT5 provides a compatible terminal for Windows, MacOS, iPhone/iPad, and offers features similar to those of MT4.
Virtual Private Server (VPS) service
In addition to MT4 and MT5, IS6FX provides a Virtual Private Server (VPS) service. VPS is an environment that allows traders to run automated trading software, such as Expert Advisors (EAs), without the need to keep their personal computer running continuously. By utilizing the VPS service, traders can eliminate the risks associated with power outages, PC malfunctions, and network issues. IS6FX offers a free VPS service for clients with a total account balance of ¥500,000 ($5,000) or more, including additional accounts. Also, the VPS provider monitors the environment 24/7.
Customer Support
The customer support provided by IS6FX is primarily accessible through their inquiry form, which is available on their website. They have also compiled a comprehensive list of frequently asked questions (FAQs) based on previous customer queries. Users are encouraged to utilize the chat bot feature located at the bottom right of the screen to resolve any issues they may encounter. In case the problem cannot be resolved through the FAQs or chat bot, customers can submit their inquiries using the inquiry form. The form requires certain information such as name, email address, and the content of the inquiry. IS6FX aims to respond to these inquiries within 24 hours, and in rare cases where a response is not received within this timeframe, customers are advised to use the mail form or contact support directly via support@is6.com. Additionally, IS6FX maintains a presence on various social media platforms like Twitter, Telegram, LINE, and YouTube.
Conclusion
In conclusion, IS6FX is an unregulated broker based in Saint Vincent and the Grenadines. It lacks a valid license from any reputable financial regulator, posing a high risk to investors. There are multiple red flags suggesting that IS6FX may be involved in fraudulent activities. While the broker offers a wide range of market instruments for trading, including forex, precious metals, stock indices, energy, stocks, and cryptocurrencies, its non-regulated status raises concerns about the safety of funds. The leverage offered by IS6FX is impressively high at up to 6000 times, providing potential for amplified profits or losses. However, it's worth noting that the spreads are relatively high and not competitive compared to other brokers in the market. The deposit and withdrawal options are diverse, but withdrawal fees may apply, and withdrawals cannot be requested directly from the user's account. IS6FX provides the popular MT4 and MT5 trading platforms, along with a VPS service for automated trading. Customer support is available through an inquiry form and FAQs, with a response time of up to 24 hours. However, due to its lack of regulation and suspicious activities, caution should be exercised when considering IS6FX as a trading option.
FAQs
Q: Is IS6FX regulated？
A: No, IS6FX is not regulated by any reputable financial regulator, which poses a high risk for traders.
Q: What are the market instruments available for trading on IS6FX？
A: IS6FX offers trading in Forex, Precious Metals, Stock Indices, Energy, Stocks, and Cryptocurrencies.
Q: What types of trading accounts does IS6FX offer？
A: IS6FX offers multiple account types on both the MT4 and MT5 trading platforms, including Micro Account, Standard Account, Pro Account, 6,000:1 Leverage Account, EX Account, and Kureptor Account.
Q: What is the leverage offered by IS6FX？
A: IS6FX offers a high leverage option of up to 6,000 times, allowing traders to magnify their potential profits and losses significantly.
Q: What are the deposit and withdrawal options on IS6FX？
A: IS6FX offers various deposit options, including credit card/debit card, domestic bank remittance, and cryptocurrencies such as Bitcoin, Ethereum, Tether, and USDCoin. Withdrawals can be made through domestic bank remittance or cryptocurrencies, with specific minimum withdrawal requirements and processing times.
Q: What trading platforms are available on IS6FX？
A: IS6FX provides the popular trading platforms MT4 and MT5 for Windows, MacOS, iPhone/iPad, Android, and WebTrader. They also offer a Virtual Private Server (VPS) service for running automated trading software.
Q: How can I contact customer support at IS6FX？
A: Customer support at IS6FX can be reached through their website's inquiry form, chat bot feature, or by submitting inquiries via email. They also maintain a presence on social media platforms such as Twitter, Telegram, LINE, and YouTube.
2023-12-13 01:29
2023-03-01 10:37
