IFX Brokers is a Crypto and Forex CFD broker, that is regulated by the FSCA in South Africa.
Owned and operated by; IFX Brokers Holdings (PTY) Ltd, they are located at: 79 Da Gama Road, Jeffreys Bay, South Africa. Contact phone number in South Africa is; +27879447273.
Customer support email address is; [email protected]. Official Website is: https://ifxbrokers.com/.
Investors with complaints or withdrawal problems should read this.
IFX Brokers Reviews
Our review of the trading apps at IFX Brokers finds, that they offer their day trader and investors the a standard MT4 or MT5 trading platform. Clients can either download the desktop trading app, or install the mobile app from iTunes or Google Play. We did not find any unique trading app specific to this broker.
IFX Brokers offers you more than 150 underlying assets for trading CFD’s, including; Major & Minor Forex pairs and the 5 core Crypto Currencies like Bitcoin and Ethereum. Their margin rates / leverage on standard Forex is up to 500:1, and with Crypto CFDs it is just 10:1.
The minimum deposit for a new trading account is between $10 – $250 depending on which account type you choose. Your trading account can be denominated in GBP, EUR, ZAR or USD. Deposits can be made via Credit Card, ETFPay or Ozow. Although they are a South African broker, their website is available in either English or Russian.
Demo trading accounts are not available from IFX Brokers, so you should open a Free demo account at CMTrading.
Scam Traders on Telegram
Many South African’s got introduced to Forex trading, because of a day trader they found on Social Media. Fraudsters create fake Telegram channels, and display trading alerts that they claim are 100% accurate.
Before following one of these traders, you must know that the people running managed account schemes are very often frauds! They are usually setup as Introducing Brokers, and many of them will profit off of your trading volume.
First thing to do, is educate yourself about day trading, and then look into Copy Trading at a regulated broker like CMTrading.
Is IFX Brokers a Legit Broker?
Yes, IFX Brokers is licensed and regulated by the FSCA in South Africa since 2017, with license number FSP 48021.
Scam Broker Investigator uses a unique method to determine if a Forex broker is in fact legitimate or a scam. We start by checking the validity of the brokers license.
Why does a broker need a valid license? Because everyday we find unlicensed brokers that simply disappear and go out of business stealing investors money.
World class brokers are always licensed by; ASIC in Australia, FCA in United Kingdom, or your governments financial regulator. Smart investors will always use a licensed broker, because of the protection you are offered from your financial regulator.
Compare Brokers
Smart investors always review a few different brokers before making a final decision, See the best brokers list.
CMTrading is a large and established broker in South Africa, offering a variety of trading apps, see here. They hold a license from the FSCA in South Africa & the FSA in Seychelles. Signup here for a Free Demo Account.
What was your experience investing with the brokers at IFX Brokers? Please share your thoughts in the comment section below.