IFA FX Review
The broker claims that it offers a variety of account packages to suit all traders of all levels of experience, but we did not find information about those, so we assume that there is a single account type, which we will refer to as “Standard” for convenience.
In addition, IFA FX offers swap-free accounts for clients of Islamic belief and says that no maintenance fees apply, but the minimum investment required is $500. As regards the Standard account type, there is no minimum initial deposit set for e-payments, but is you use bank wire, you will need to start out with at least $200.
According to the limited information provided on the IFA FX’s website, the Standard account type is commission-free with variable spreads, leverage up to 1:100 and the option to use micro tradeable lots.
IFA FX’s conditions seem attractive – trading costs seem low, there is no minimum initial deposit required, and besides, the broker claims to follow a pure STP model. But things with FX brokers oftentimes are not what they seem. We could not test IFA FX’s demo account (there is no MT4 available for download, and when we opened a demo account the activation link sent by the broker did not work), which immediately raised a red flag. Another fact that makes us suspicious about IFA FX is that its registered office is in Belize.
The Company. Security of Funds
IFA FX ltd.
IFA FX is one of the many forex and CFD brokerages that are registered offshore. We do not recommend investing with non-regulated or offshore brokers in general, and this one specifically. These companies can basically do whatever their like with your trades and your money. That is why you’d better select among FCA-regulated brokerages, or companies licensed in Cyprus, where the respective financial watchdogs are always on alert and your money will be safer.
IFA FX supports the most widely used forex trading platform – MetaTrader 4 (MT4), available as a desktop version and mobile apps. However, as we have mentioned above, IFA FX’s is not available for download.
The MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting tools and trading automatization options with the most commonly used trading robots (EAs), as well as with options to create new ones.
Keep in mind that the broker may, at its sole discretion, disable specific EAs considered to be violating company risk management parameters.
Methods of Payment
IFA FX supports the following payment methods: credit/debit cards, bank wire transfer, Skrill, Neteller.
IFA FX is an offshore MT4 brokerage that has not shared much relevant information on its website. Apart from the fact that it is not properly regulated, it does not offer demo accounts.
IFA FX Review Conclusion
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