IFI Trading is an offshore online broker that is still fairly new. They registered their domain on October 8th 2021.
They claim to be located at; Banderas de Castilla Street 32 3ºD Talavera de la Reina, Toledo, Spain. Their terms and conditions page says that they are based in Vanuatu. No contact phone number is listed on their website. Customer support email address is: [email protected]. Official website was at: https://www.ifitrading.com/.
For withdrawal problems or complaints read this.
IFI Trading Brokers Review
While reviewing this new broker called IFI Trading, we see that they are offering their investors the full range of CFD’s for trading on Forex, Stocks, Crypto Currency, Metals and Oil. Their trading platform is a white label of the PandaTS app, which is only a web-based platform, without any mobile trading apps. The South African regulated broker CMTrading also offers this trading platform.
As a new day trader / investor, you should first learn the difference between trading and investing. Investors utilizing a CFD (Contracts for Difference) broker, are only day trading and looking to profit from the underlying assets price movement. You do not actually own the underlying asset or crypto currency.
IFI Trading does not offer different trading account type, and the minimum deposit seems to be $60. No matter what, you are probably already getting phone calls from their salesmen asking you to make a larger investment.
Look here, to see what a licensed broker offers!
Automated Trading Apps
Newbie investors usually get hooked into investing via a trading app like the Bitcoin Loophole. The problem with trading apps is, that most of them don’t make money, and you lose your investment fast.
The name of the game is getting you to agree to let them manage your account. They will assign you a senior trader who is suppose to make money trading your account. The problem is that there are no licensed CFD brokers offering investors managed accounts. Take a few minutes and educate yourself on the pitfalls of using an automated trading app, read this.
Is IFI Trading a Legit Broker?
No, IFI Trading is not a licensed CFD broker, and does not have any Government regulator oversight or license. CFD brokers in Spain must be licensed and regulated by CNMV, and brokers in United Kingdom must be regulated by the Financial Conduct Authority (FCA).
There is a chance that this broker is somehow connected with MarketTrip and StoxDC, as their websites are hosted on the same servers.
Brokers that offer investing or day trading on Crypto Currencies, Shares or Forex is considered an investment service, which means they are required to have a license from your governments regulator. The difference between a licensed broker and an unlicensed broker is; who will insure your money when the broker goes out of business? Read more.
Compare Licensed Brokers
You can choose from more than one hundred licensed Forex brokers! Have a look at these popular licensed Forex brokers.
ForTrade is a popular Forex & Crypto broker, that is licensed and regulated in Europe, Australia, Canada and United Kingdom, see here.
Try a Free Demo Account on their multiple trading apps, signup here.
If you are already investing with IFI Trading, please write a review, in the comments section below.