IFX brokers claim to be South Africa’s favorite broker. IFX offers attractive features for all kinds of traders. Whether you are a retail or institutional client, IFX broker has something for you. It is a regulated broker, and it checks all the boxes for most of the users. 

In this article, we will test IFX’s claim and see if it holds any worth. 

IFX brokers – Background

IFX brokers hold their values dear to them. It is a reputed and established broker. IFX was installed before 2010. It has gotten a lot of success and earned a good reputation in the South African Forex market.

Regulation

Many authorities regulate IFX. In South Africa, the government’s financial watchdog FSCA keeps an eye on this broker. Regulation makes sure that the trader’s funds are secure when they put their money in with a broker. A regulatory authority offers fund restoration if the broker runs a scam or goes bankrupt.

It would help if you never compromised on the aspect of regulation. It doesn’t matter how good a broker looks on paper; if it doesn’t check the regulation box, it is no good. Thus, you can safely trade with IFX brokers.

Minimum Deposit

IFX has a meager deposit limit of one USD. You can’t complain about IFX brokers’ efforts to make Forex trading accessible to everyone. We don’t usually see such low deposit limits with premium brokers. Hence, IFX has our vote for this great feature.

Leverage

IFX offers leverage rates capped at 1:500. Leverage is the amount of trade you can makeover your deposited amount. The broker provides leverage rates and takes a tiny commission on your profits.

Users can trade with more amounts than they have. Higher leverage rates higher profits for lower payments, but it also means that users will have to suffer more loss than the amount they traded with.

For this reason, IFX’s leverage rates are moderate. Sure, they are slightly more than average but bear in mind that it is a broker used mainly by beginners who can’t afford to pay higher deposit fees. Thus, the higher to moderate leverage rate of IFX makes it a perfect option for new traders. 

Trading Platform

IFX functions on the industry-standard MT4 platform. MT4 offers security and functionality. It doesn’t provide the new MT5 platform yet. The lack of MT5 could be a deal-breaker for some people. However, most traders and trading platforms have not fully transitioned to MT5, so we don’t find it a big issue. 

Reliability

IFX offers harmful balance security tools. This means that users’ funds are kept segregated, and in the event of any unfortunate incident, the traders will not lose their money. Combined with FSCA’s regulation, IFX broker is a reasonably secure broker to trade with. 

Demo Account

IFX broker offers a demo account feature that we don’t necessarily see with low deposit brokers. Demo accounts allow the traders to test the waters of Forex trading without risking their real money. 

Conclusion

IFX broker does everything right. It has good reviews and high customer satisfaction rates. Users standard broker features but at comparatively lower rates.