IFC Markets Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this IFC Markets Review.
IFC Markets Review
IFC Markets offers its clients a two basic account types on two different trading platforms. Both account types offer the same tight fixed spreads, instant execution and commission-free trading.
Beginner accounts not only offer micro tradable lots, but also the opportunity to trade in 100 units of a given currency.
In addition, swap-free (Islamic) services are available for all account types upon request from clients who are not willing to earn interest for religious reasons.
VIP status is automatically assigned to accounts with trading deposit from $50 000. Such account holders may benefit from flexible trading conditions, personal account manager guidance and assistance by and analyst in creation of investment portfolio with GeWorko Method.
IFC Markets is a leading brokerage company offering a wide range of trading instruments: currency pairs, CFDs on indices, commodities and precious metals, as well as unique personal instruments on two trading platforms. This is the trading name of IFCMARKETS. CORP., incorporated in the British Virgin Islands (BVI) and licensed by the Financial Services Commission (FSC).
The broker is part of the IFCM Group, involved in development and implementation of new effective projects in the field of financial technologies for more than 10 years. The Group also includes software developer NetTradeX Corp and Infin Markets Limited., licensed by the Cyprus Securities and Exchange Commission (CySEC).
Security of Funds
As we have already mentioned, IFC Markets Ltd., is regulated by the BVI Financial Services Commission. It has a Category 2 business license, which means that it can arrange deals in investments. In order to get such a license, companies undergo rigid checks by the FSC.
Despite offering regulated status, FSC allows companies to be entirely based overseas. Furthermore, BVI-registered financial services providers do not face most of the requirements that brokers based in the Cyprus or UK do. For example, BVI-registered brokers are not required to contribute to a compensation scheme and are not subject to any minimum capital requirements.
Generally, we advise traders to choose among UK, Swiss or other well-regulated brokers, where your funds will be protected. If you, however, prefer offshore ones for some reason, IFC Markets is a reliable choice: part of an international group, having 10 years of experience and offering pretty good trading conditions, as well as innovative technologyand some unique features.
Minimum Initial Deposit
The minimum initial deposit for IFC Markets clients is just $1, which is a symbolically low initial amount. Yet, signup for the Standard account requires a deposit of at least $1000. In comparison, ForexBrokerInc, registered on the Marshall Islands, demands $100 from its clients as a start for all account types.
Average Spreads & Commissions
IFC Markets offers fixed spreads amounting to to 1.8 pips on EUR/USD, which is pretty tight, as generally fixed spreads are higher than variable ones. Like most fixed-spread brokers, this one does not charge a commission, but instead gets its remuneration only through the spread.
In comparison, BVI-registered Fibo Group offers fixed spreads amounting to 2.0 pips for the EUR/USD pair on its MT4 Dealing Desk account types. For further information, you may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level provided by this broker is high, reaching 1:400. Nonetheless, many other offshore brokers offer similar or higher leverage levels: ForexBrokerInc and LiteForex both provide leverage up to 1:500. More forex brokers, offering leverage 1:500 and higher can be viewed here.
We would like to remind you that operating with higher leverage levels involves greater risk.
IFC Markets offers its clients a choice of two trading platforms: MetaTrader 4 (MT4№ and its in-house NetTradeX.
NetTradeX is a trading-analytical terminal launched back in 2006. The platform offers for trade a wide choice of forex pairs, indices, stock and commodity contracts for difference (CFDs). It is available for desktop devices with Windows operating system, as well as for mobile devices with iOS, Android, and Windows Mobile operating systems.
In addition to standard trading instruments, this this Platform offers the unique option of trading in personal composite instruments (PCI). You can create PCI on your own by the GeWorko Method, which is based on the Forex concept, according to which, one financial asset is quoted by another. PCI are for instance new cross rates, correlations between various assets, currency indexes, stock portfolios, etc.
IFC Markets` in-house NetTradeX platform. Click to enlarge.
In addition to the NetTradeX, IFC Markets also supports MetaTrader 4 (MT4), the world’s most widely used forex trading platform. It comes in desktop, web and mobile versions. MT4 is preferred by most experienced traders, because it is equipped with an advanced charting package, a number of technical indicators, Expert Advisors (EA) and extensive back-testing environment. What is more, trading signals service is available on the MT4 only with this broker.
In June 2017, the broker also launched trading on MT4’s successor – the MetaTrader 5.
Methods of Payment
Clients of IFC Markets may choose from a wide range of payment methods: bank wire transfer, bank cards, Skrill, OKPAY, WebMoney, Netteller and Western Union.
Accepted currencies: USD, EUR and JPY.
We would also like to point out that this broker offers up to 7% annual interest on free margin.
Despite its light-touch regulation, IFC Markets is a reliable and award-winning broker, which is a part of a group with worldwide operations. It offers trading in numerous different instruments and assets on a selection of robust trading platforms under competitive trading conditions.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
IFC Markets Review Conclusion
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