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IFX Brokers Review 2024

A big name in the forex and CFDs market where it operated from its headquarters in South Africa promoting its name as a facilitator for a one-stop trading experience for retail and institutional clients. IFX brokers provide access to global markets with a broad range of assets and trading instruments. Via this IFX brokers review 2024 you’ll acquire all the needed information and knowledge about the features and trading conditions for live accounts with IFX Brokers.

IFX Brokers is a trading name of IFX Brokers Holdings (Pty) Ltd providing its private customers with trading needs of MT4 and MT5 as a trading platform for a great trading experience registered by (Registration No. 2017/027249/07).

You can rest easy when you trade with IFX Brokers. Client funds are kept separate in a segregated account and monitored daily by our 3rd party auditor. Top that with IFX fidelity and indemnity insurance, zero balance protection and fund protection from your trading activities with the broker’s own risk management tool – the IFX Wallet.

I reviewed IFX based on the following criteria.

IFX broker incorporates trade execution, with pricing from multiple banks and liquidity providers and 100% automated execution, eliminating broker intervention. Cybersonic trade execution is from as low as 2.5 milliseconds and settled immediately.

IFX broker incorporates trade execution, with pricing from multiple banks and liquidity providers and 100% automated execution, eliminating broker intervention. Cybersonic trade execution is from as low as 2.5 milliseconds and settled immediately.

In this IFX brokers review 2024 the questions like Are IFX Brokers legit? What are the account types offered by IFX broker? What are the trading conditions such as spreads, minimum deposit, and leverage? Can I open a demo account? Are IFX Brokers regulated? Does IFX have customer services? are going to be answered.

Regulation of IFX Brokers

Generally, forex brokers or financial institutions, in general, require regulation and a license in order to be able to carry out operations in the market. Brokers would promote their products and services and gain long-term clients and their trust. And so in this section of this IFX brokers review I’ll break down all you need to know about the regulation, how it should be and what kind of regulation and licenses IFX is holding.

It’s no easy task when it comes to money and funding and here we’re talking about investing, meaning it’s a 50/50 chance of profit or loss, and yet traders choose to take that risk in hopes to gain high profits. However, what makes an investor take such a risk with a non-trustworthy broker? I’ve been in those shoes and let me tell you, no trader would go for a non-regulated broker and even a high ranked- big name and reputation regulator is always the first thing traders look for when reviewing a broker house to invest with.

And here, with IFX broker regulation which is licensed by the financial sector conduct authority also refer to as FSCA. Where the clients’ funds are kept segregated from those operational funds from IFX broker itself to make sure they won’t be affected in case of loss or fraud that might happen to the broker itself.

Since the forex market is global, it is very prone to fraud. Some governments and independent organizations audit the forex market according to certain criteria.

And some of these criteria are:

  • Being registered with the regulatory agency
  • Having a license
  • Passing audits
  • Informing customers about service changes etc.

That’s why it’s safer to work with licensed forex brokers to protect yourself from fraud. These brokers are subject to constant audits and reviews to meet the requirements.

IFX Brokers claims that their distribution and market conduct is regulated by the Financial Sector Conduct Authority (Authorized Financial Services Provider number 48021).

FSCA is a legal regulator offering reliable protection to investors. However, it doesn’t compare with the UK’s FCA or the Australian ASIC. They are more reputable regulators, of course.

Also, FCA-regulated forex brokers must maintain a minimum capital of at least 730 000 Euro to prove their financial stability. For ASIC-regulated ones, the minimum capital amount is $1M.

Moreover, FCA-regulated brokers have to provide a compensation scheme, which is named Financial Services Compensation Scheme (FSCS). The system covers investors’ money up to 50000 GBP.

Unfortunately, there is no compensation scheme for the ASIC-regulated broker’s clients.

IFX Brokers Account Types

In this section of this IFX broker review, I’ll break down all the presented account types and all the features of each account so it’ll allow you to make the right choice in opening the account that matches your needs and trading strategy.

IFX brokers account types are 5 types of accounts for their clients with all variable conditions to make sure it’s matching the needs of their international and multiple clientele base around the world.

The 5 types of IFX real accounts are named as follows:

  • IFX Standard
  • IFX Premium
  • IFX Islamic
  • IFX Cent

Where each of the IFX real account types is having its own characterizing and trading terms to make it suitable for a specific target of traders.

IFX Standard account

All market trading instruments are offered with leverage of 1:500 along with IFX broker minimum deposit for this IFX real account is $10 and the spread is 1.3 pips. Also, there is the option to get a bonus with this account type.

IFX Premium

The most popular IFX real account among all accounts and so the most favourable for the traders to invest with. Where IFX broker minimum deposit for this account is $250 and the spread is 1 pip. There is no option for this account to get any bonus opportunities.


Where the IFX broker minimum deposit is the highest of all accounts that it reaching $1000 and the spread is 0.5 pips. It also provides the option to invest in all ranges of trade instruments, there is no option for a bonus with this account yet you can trade with a leverage of 1:500.

IFX Islamic account

This IFX real account can also be called the swap-free account where swaps on buying and selling orders overnights or on the weekends don’t take place IFX broker minimum deposit in these accounts is $10 and the spread is 1.3 pips. With the option to get bonuses with these accounts.

Note that all 4 IFX real accounts; IFX Standard, IFX Premium, IFX VIP, and IFX Islamic all have the same trading platforms available for them. You can use both MT4 and MT5. They also share the leverage amount which is 1:500.

IFX Cent

It has all different conditions from all the other 4 accounts, here you can only trade using MT5 platforms. The IFX broker minimum deposit here is $10 and the spread is 1.6 pips. With the chance to have bonuses with this account. The leverage here is the highest of all the accounts which can reach 1:1000.

IFX Cent is the most suitable for new beginners in forex and CFDs as it would be trading with nano lots which is the perfect tool to start trading with as major profits nor losses would take place and the investor can try out IFX broker.

There is no commission added nor hidden costs present in any of the accounts except for the IFX VIP which has $6 as a commission.

There is another account type offered within IFX broker which is the IFX brokers demo account. This account type allows all kinds of traders to test out and trial different methods of trading.  IFX brokers demo account gives the chance for beginner traders to test out their knowledge and try out the real markets in a risk-free environment where they can have free trials and investments without real money usage in the demo account. At the same time, IFX brokers demo account permits professional traders to test out new trading techniques and strategies for better and safer trading in real accounts later on.

Trading Platforms

IFX Brokers supports MetaTrader4 which is the most popular trading platform among traders and brokers. And so, in this area of this IFX broker review, I’ll break down for you some of the features of the offered platform in addition to the types of devices that allow their usage.

Generally, using MT4 is an advantage for any broker. Because every trader wants their broker to support the MT4. IFX broker online trading platforms powered by Equinix, include MetaTrader 4/5 Desktop and Mobile for smartphones and tablets.

The MetaTrader 4 provides enhanced planning functions and highly advanced order management tools. It also has a multilingual interface, provides comprehensive analysis, and allows for multiple chart settings. MT4 is simple and easy to use and allows users to customize the interface to suit their individual needs.

Some of the MT4 characteristics are:

  • Used for developing trading programs based on the order system
  • MT4 require multiple functions for performing trading operations
  • Programs for MT4 cannot run on MT5
  • simpler than MT5

MT4 has 30 built-in indicators whereas MT5 has 38 indicators only. 2000+ custom indicators are also available with 700+ paid indicators.

While MT5 has 33 analytical objects, 19 timeframes, and an unlimited number of charts. MT5 also provides the option for the economic calendar which is an option absent from MT4.

Generally, both MT4 and MT5 are run on Windows, Mac OS, iPhone, IPad, and Android devices.

Trading Instruments

IFX perpetually upgraded their instruments to offer you the finest low-cost trading service through state-of-the-art trading platforms, with unrivalled top-tier liquidity and spreads.

Here in this part of the IFX broker review, You experience reliable, formidably fast trade execution with no-dealing desk intervention and a comprehensive range of offerings that include CFDs, commodities, Forex and Futures.

IFX broker offers its clients to trade on forex, indices, commodities, and cryptocurrencies.

Forex: IFX Brokers offer over 70 currency pairs, where majors, minors and exotics currency pairs of forex are available where you can trade with leveraged trades and competitive spreads.

Commodities: They include different sections like precious metals trading that involves gold, silver, and platinum. Energy trading includes crude oil, UK Brent oil, and natural gas. Where all these commodities are affected by supply and demand and traders can get the chance to speculate on the price movements and make a profit and the rise and fall of prices.

Cryptocurrencies: cryptos are currencies that don’t exist in the physical sense. They’re markets that aren’t regulated by any financial authorities or banks the same way physical currencies are. The ones available are Bitcoin, Ethereum, Bitcoin cash, Litecoin, and Ripple.

Indices: With over 11 different indices to choose from, inducing NASDAQ, Europe 50, Dow Jones, DAX, and more whereas the indices provided by IFX Brokers are the most popular form of CFD. With a large range to choose from, trading on indices enables traders to speculate on whether an index will rise or fall, without buying shares in the underlying assets. In this sense, one can trade an index just as one would trade a stock, currency, or commodity.

IFX Brokers Funding Methods

It’s well-known how important it is for any forex broker to provide an adequate variety of options and via this part of the IFX broker review, I’ll break down the information presented that supports the different ways of funding real accounts within IFX brokers.

You can fund your account using credit and debit cards ( Visa and MasterCard ), PayFast, Ozow, Skrill, Neteller, Wire transfers and cryptocurrencies ( bitcoin, Tether and Ethereum).

There’re no fees on any of the deposit and withdrawal methods within IFX brokers. While processing times are mostly instantly throughout all channels. While making deposits via bank transfers might take around 24-48 working hours.

IFX broker enables clients to open accounts in the following base currencies: South African Rand (ZAR), United States Dollar (USD), British Pound Sterling (GBP), and Euro (EUR). With a variety of payment options clients can start trading almost instantly.

There’s also the question of how long the withdrawals take. and in my IFX markets opinion that it’s a valid question, even I, myself, asked the same question putting this IFX brokers review together. Yet, it was very helpful to find the information I wanted as the IFX broker states that withdrawals are processed within the working hours of the working days (Monday – Friday 7-5).

Withdrawals for South African clients are normally processed within 2-4 hours. Please note that withdrawals for International clients are processed immediately but can take up to 5 working days to reach your bank account.

Due to third-party regulations, funds would only be deposited in the bank account aligned with your IFX trading account.

Withdrawals are pretty simple and easy as 3 clicks. All you need to do is to log in to your secure area in your IFX client area, then add your bank account details for security and verification and after approval, you can process your withdrawal safely and securely.

Educational Material

Those who decide to become an introducing broker will need to have a winning strategy; this strategy can only be developed through experience and knowledge. This part of the IFX broker review will go into detail about all you need to know regarding the educational materials offered by IFX brokers.

Those who manage funds that are not their own will also need to look into the legal ramifications and requirements involved. Regardless, IBs need to be able to develop a reputation if they are to be listened to by any potential clients.

IFX Brokers supplies a lot of educational materials under what they call IFX courses. In this part, IFX offers educational materials that appeal to every user, from beginner to intermediate to advanced. With a bit more focus on beginners, they deliver course materials and assignments to you electronically, and you decide at what speed you want to complete the modules. You can take a look at the link above to find more detailed information about training materials.

 IFX Academy is one of the best courses that IFX broker provided to their investors. As it can help you become a better trader, whether you’re a complete newbie or have some experience under your belt.

You’ll learn how to balance risk and reward in a way that maximizes both. With the help of these free online Forex courses and the ongoing assistance of IFX Broker’s training team, traders are easily granted a competitive advantage.

Customer Services of IFX Brokers

It’s a no-brainer that customer service is one of the most important sections of any review, and through this IFX brokers review, I’ll break down the facts about customer support and the level of their efficiency in this section so read along.

Known for the best after-service support in its business sector, the IFX broker support team is fully equipped to deal with any and all questions relating to your IFX account.

IFX broker included all contact details and information on their website for ultimate transparency and care and to show their client how customer support is always in a ready state to provide assistance. you can contact the support team at +27 87 944 7273 or you can use other communication options.

And also you can contact them on social platforms like Facebook, Instagram and, Twitter.

Conclusion of IFX brokers review 2024

In a true STP (Straight-Through-Processing) environment, IFX Brokers use technologies, without dealing desk intervention and route trade orders directly to liquidity providers.

IFX Brokers is regulated by the South African Financial Sector Conduct Authority (FSCA). Whereas per the information provided in this IFX brokers review 2024 it was concluded that IFX broker provides 5 types of IFX real accounts along with competitive trading conditions that can match all levels of traders, from new beginners to professionals. IFX broker minimum deposit also ranges between $10 and can reach $1000 as mentioned in the IFX VIP IFX real account type. The different types of IFX real accounts offered along with the variety of minimum deposits allow IFX Clients to access fundamental markets with a better and faster filling of orders.

Straight Through Processing execution simply goes without any requotes and is suitable for all trading strategies.

IFX broker offers 2 of the most popular and most used trading platforms provided by Metaquotes which are MT4 and MT5. The broker has proven its ability to grow and become one of the most efficient brokers in the market implementing efficient and proactive policies and regulations, that not only benefit the clients but also improve the position of the broker in the market and hence its reputation.

On the other hand, as seen in this IFX broker review, spreads are high and not much information about the demo accounts on the IFX broker website. Also, you can find the best brokers in my related article if you were interested in other brokers you can trade with. And if you have any questions don’t hesitate to contact me or leave me a comment below.

ifx brokers review
Rating: 5.3