IFX Brokers Review For Beginners

A step by step tutorial on IFX Broker's offerings including their accounts, instruments, trading applications and more.
This Video Overview Includes:
📢 Trading products
📢 Account types
📢 Trading Platform
📢 Educational resources
📢 And more...
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0:28 Overview
5:25 Trading Platforms
6:49 Account types
9:01 Opening an account
11:41 Educational resources
12:54 Conclusion
Read our Video Script:
IFX Markets is a beginner-friendly online broker that is based in South Africa. This broker is regulated by the Financial Sector Conduct Authority (FSCA) and operates under The Financial Markets Act. If you are worried about the safety of your funds when trading with this broker, you can rest assured that your investments will be held in separate accounts with trusted banks and your account has negative balance protection and indemnity insurance. This broker also provides an intuitive built-in wallet that will make it easier to monitor your portfolio and manage your risks. IFX Markets offers a diverse range of trading services and competitive spreads to private and institutional clients globally and is one of the most-trusted brokers in South Africa.
IFX Markets offers more than 200 Commodities, Indices, Cryptocurrencies and Forex pairs. With this broker, you also trade precious metals, such as Silver and Gold, Natural gasses and Crude Oil. There are over 69 tradable currency pairs and the spreads on currency pairs typically start from 0.1 pips. In general, your trades can be leveraged by up to 1:100 on the IFX Cent account or 1:500 on any of the other accounts.
As an IFX Markets client, you can use MetaTrader 4 and 5. MetaTrader 4 was released in 2005 and 5 years later, MetaTrader 5 was launched with many new features were introduced, including advanced analysis tools, thousands of technical indicators, customisable charts, EA and algorithmic trading functionality. These platforms can be downloaded for free from the official MT5 website and they are beginner-friendly and suitable for all styles of trading.
IFX Markets offers 5 types of accounts, The Standard, Cent and Islamic accounts are beginner-friendly and require a low minimum deposit of only $10. The Cent account can only be used on MetaTrader 5, but all other accounts support both MetaTrader 4 and 5. If you have a bigger budget and you want tighter spreads, you could open either a Premium account by depositing $250 or deposit at least $1,000 to open a VIP account. The VIP account is the only account that charges commission fees but it offers the best spreads, starting from as low as 0.5 pips. These accounts are all market execution accounts that can be used for any style of trading and all types of trading strategies. If you are new to trading then we recommend practicing on a demo account until you have a solid understanding of trading, as there are high financial risks to trading.
If you are new to trading, we recommend reading the introductory guide before you open an account. This guide will give you a better understanding of what Forex is, why people trade, the risks of trading and how to trade. Once you know the basics, check out the Economic calendar to keep track of the latest market-related events. You can use the Economic Calendar to gain fundamental insights into global Employment Data, Retail markets and Consumer Price Index, economic activities and GDP levels, changes in Monetary Policies and updates on major events in over 70 Central Banks around the world.
Overall, IFX Markets is an excellent choice for beginners seeking a low-risk, low-cost broker, but this broker also offers competitive trading conditions and powerful trading platforms for professional and institutional clients. IFX Markets seems safe and reliable however opening an account is done entirely at your own risk and discretion. Remember that trading has high levels of financial risks and online markets are volatile, so remember to trade responsibly and only trust the advice of a professional advisor. We highly recommend reading over the terms and conditions of trading with any broker before making any financial commitments.
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