IFX-Some Important Details about This Broker

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