Are you searching for a legit and authentic review of the IFX broker that can tell you important details regarding the broker account types? If your answer is YES, then going through this article will surely assist you.
We will mainly focus on features of account types that you get from the broker. So, you can choose the most accurate one for you. Therefore delve straight into the article without any delay.
Where is the headquarters of the IFX broker located?
The headquarters of the IFX is situated in South Africa. It holds a quite good reputation among the traders because it is authorized by the famous jurisdictions named the FSCA( Financial Sector Conduct Authority.)
Awards won by the IFX broker.
Some traders prefer to go for the forex trader that has won several awards. Because it shows that the broker must have provided impeccable services to their clients that assist them in grabbing the attention of the award ceremony organizers, but when it comes to the IFX broker, then there are no awards have mentioned on their website.
It is important to mention here that there are chances that they may not have taken part in any award ceremony.
Accounts offered by the IFX brokers
In this section, we will discuss the accounts offered by the broker. Bear in mind that every account has some pros and cons. Therefore, before creating an account, always do proper research and determine which account is most suitable for you.
IFX Standard Account
IFX brokers minimum deposit for this account is $100. Furthermore, the minimum spread for a standard account is 0.8 pips, and the size of the minimum trade is 0.01 lot. If you create this account, you will also get a wide range of currency options that include USD, GBP, ZAR, and EUR.
IFX Raw Account
Raw accounts offer you an extensive range of tradeable instruments. You must need to deposit an amount of USD 25. They have the minimum trade size same as IFX standard account 0.01 lot. In addition, the minimum spread is 0.3 pips. USD is the base currency of this account.
IFX Islamic Account according
Islamic account is free of swap. If you want to start trading to the IFX and specially designed for Muslim users. You need to deposit $100 to initiate trading. Islamic account’s minimum spread is 0.8 pips while the trade size is 0.01 lot. It is also worth notable that the base currency for this account type is USD.
Deposit and Withdrawals
Although IFX broker is providing excellent services, overall, their payment options are limited as compared to several other brokers. Currently, they are only providing three options that include OZOW, Netelker, SKRILL, Mastercard, PayFast, Visa, and Wire Transfer.
To sum up the IFX review, we must say that forex trading is not everyone’s cup of tea. If you aim to become a forex trader, then make sure you have discipline, and you need to be consistent. Therefore while picking the forex broker, consider all the important factors.