IFC Markets Forex Broker

IFC Markets Review Summary Founded2006Registered Country/RegionMalaysiaRegulationLFSA, FSC (Suspicious Clone)Market InstrumentsCurrency pairs, precious metals, cryptocurrency CFDs etc.Demo AccountAvailableLeverageUp to 1:400EUR/USD Spreads1.8 pipsMinimum Deposit0Trading PlatformsNetTrade X, MT4, MT5Customer SupportPhone, email, social mediaWhat is IFC Markets? IFC Markets, established in 2006, is a financial trading platform headquartered in Malaysia. It operates under the regulation of LFSA and FSC, though there are suspicions regarding the authenticity of its FSC license. The platform provides its users a wide range of market instruments to trade, including currency pairs, precious metals, and cryptocurrency CFDs. New users can familiarize themselves with the platform through its available demo account. IFC Markets offers a leverage of up to 1:400, with EUR/USD spreads at 1.8 pips. They have multiple trading platforms for users to choose from, including NetTrade X, MT4, and MT5. For any assistance, customers can reach out to their support team via phone, email, or social media (Twitter, Instagram, Linkedin).Pros & ConsProsCons• 18-year experience in global financial markets• Suspicious regulation by FSC• 650+ trading instruments• Limited leverage compared to some competitors• No hidden commission• Restricted access in certain countriesPros: • 18-year experience in global financial markets: IFC Markets has been in operation for nearly two decades, indicating a deep understanding and expertise in navigating the financial markets. • 650+ trading instruments: This extensive range offers traders a diverse selection, aiding in portfolio diversification and alignment with individual trading strategies. • No hidden commission: A transparent pricing structure aids traders in precisely determining their potential costs and profits.Cons: • Suspicious regulation by FSC: Doubts surrounding a platform's regulatory status can be concerning. Proper regulation guarantees that the broker adheres to lawful and ethical standards, safeguarding traders from potential malpractices. • Limited leverage compared to some competitors: While IFC offers up to 1:400 leverage, some competitors might offer even higher leverage, which could appeal to certain risk-seeking traders. • Restricted access in certain countries: IFC Markets caters to most international traders.Traders from Japan or Russia will not be able to access or use the platform, limiting its global reach.Is IFC Markets Safe or Scam? IFC Markets is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia with MB/20/0049 license number.Market Instruments IFC Markets boasts a comprehensive and diverse array of market instruments, catering to the varied needs of its global clientele. From traditional forex trading to innovative cryptocurrency CFDs, the platform provides multiple avenues for potential investment. Here are some examples of the instruments available:Currency Pairs Trading The Forex segment at IFC Markets features traditional instruments for this market, such as currency pairs. These pairs express the value of one currency in terms of another.Precious Metals CFD Trading Precious metals, notably gold, have consistently been viewed as reliable assets during market crises and periods of high volatility.World Indices CFD Trading Instruments in this category allow traders to engage with indices from leading stock exchanges. The pricing of these instruments is set in the local currency of each specific index.Online Stock CFD Trading This segment comprises CFDs on highly liquid stocks from companies listed on major global stock markets.Online Cryptocurrency Trading - Cryptocurrency CFDs Cryptocurrency CFDs enable traders to speculate on cryptocurrency values without directly owning the underlying asset. Cryptocurrencies are traded against standard currencies, e.g., ETHUSD for Ethereum. A distinct advantage is that there's no need for a cryptocurrency exchange account or a bitcoin wallet. IFC Markets sources cryptocurrency prices from reputable exchanges and futures prices for assets like Bitcoin and Ethereum.Accounts IFC Markets offers three account types—Standard, Beginner, and Demo—with common features such as leverage ranging from 1:1 to 1:400 and spreads starting from 1.8 pips (fixed) or 0.4 pips (floating). All account types have flexible volume requirements, with the Demo and Beginner accounts allowing as low as 0.001 lot. The key difference lies in the minimum deposit: the Standard account requires a higher deposit of 1000 USD/EUR/JPY, while the Beginner account can be opened with just 1 USD/EUR/JPY, and the Demo account requires no deposit at all.FeatureStandard AccountBeginner AccountDemo AccountLeverage1:1 - 1:2001:1 - 1:4001:1 - 1:400Min. SpreadFixed from 1.8 pips, Floating from 0.4 pipsFixed from 1.8 pips, Floating from 0.4 pipsFixed from 1.8 pips, Floating from 0.4 pipsMin. Volume0.1 lot0.001 lot0.1 lotMin. Deposit1000 USD | 1000 EUR | 10000 JPY1 USD | 1 EUR | 100 JPY0 Leverage By offering leverage as high as 1:400, IFC Markets enables its clients to amplify their exposure to the market and potentially achieve higher returns on their investments.Spreads & Commissions In IFC Markets, the spread is the difference between the bid and ask price for a currency pair or asset, and it can be either fixed or floating:Fixed Spread: The spread remains constant regardless of market conditions. For instance, it starts from 1.8 pips for most pairs, providing predictability for traders.Floating Spread: The spread can fluctuate based on market volatility and liquidity, starting from 0.4 pips. As for commission, IFC Markets typically does not charge separate commissions on standard accounts, as costs are embedded within the spread. However, for accounts that use floating spreads, the trading cost might be slightly higher due to more frequent market fluctuations. Always check the specific account type for detailed costs.Trading Platforms IFC Markets offers three versatile trading platforms: NetTradeX: A user-friendly platform with advanced tools, accessible on desktop and mobile devices. MetaTrader 4 (MT4): Renowned for stability and automated trading using Expert Advisors, with extensive charting and analysis tools. MetaTrader 5 (MT5): An advanced successor to MT4, featuring expanded timeframes, more technical indicators, and broader asset class support. Choose the platform that suits your trading style and access a wide range of assets with competitive spreads, all in a secure trading environment.Deposits & Withdrawals IFC Markets offers a variety of deposit and withdrawal methods with processing times ranging from instantly (for methods like Bitwallet and MobileMoney) to 2-3 working days (for Bank Transfers). Most deposit methods have no fees, except for Bank Transfers and WebMoney, while withdrawal fees vary by method (e.g., TopChange has a 2% fee, and Bitwallet charges ¥100 per transaction). Minimum deposits start from $1 for methods like TopChange and Bitwallet, while withdrawals range from $1 to $50 depending on the method. Some methods, like Bank Cards, have daily withdrawal limits.Deposit MethodProcessing TimeDeposit FeeMinimum DepositMaximum DepositAvailable Withdrawal MethodInternational Bank Transfer2-3 working daysYour bank's fee$100 / €100N/AInternational Bank TransferBank CardsInstantlyNone$100 / €100 / ¥10,000$5000 / €5000 / ¥500,000Bank card used for depositingMobile Money / M-PesaInstantlyNone$5 / €5$500 / €500Mobile Money / M-PesaAfrican Local BankInstantlyNone$5 / €5$500 / €500African Local BankCryptocurrenciesInstantlyNone$20 / €20 / ¥2000 / 800 uBTCN/ACryptocurrenciesTopChangeInstantlyNone$1N/ATopChangeBitwalletInstantlyNone$10 / €10 / ¥1000NoneBitwallet payment systemWebMoneyInstantly20%$1N/AWebMoney payment systemADVCashInstantlyNone$1 / €1$5000 / €5000ADVCashDomestic TransferWithin 1 hourNone$20 / €20N/ADomestic TransferWithdrawal MethodProcessing TimeCommissionMinimum WithdrawalMaximum WithdrawalBank Transfer (Wire transfer)2 to 3 working daysYour bank's fee + £20$50 / €50N/ABank Card (Transfer to Banking Card)1-5 business daysVaries$10 / €10 / ¥5000$1000 / €1000 / ¥100,000 per dayBank Card (TopChange)Several minutes2%$1N/ABitwallet (Transfer to Bitwallet account)Several minutes¥100 per transaction, ¥824 for withdrawal to local bank$1 / €1 / ¥100N/AWebMoney TransferSeveral minutes0.8% (max $50)$1N/ACrypto Currencies< 1 working dayVaries$20 / €20 / ¥2000 / 800 uBTCN/AADVCashFew minutes0.5%$1 / €1$5000 / €5000MobileMoney / M-Pesa< 1 working day$1-$2 / €1-€2$5$500 / €500African Local Bank< 1 working day$1-$2 / €1-€2$5$500 / €500Domestic Transfer< 1 working day1.8% - 3.5%$10 / €10$5000 / €5000Transfers between Own Trading AccountsSeveral minutesNone$1 / €1 / ¥100 / 50 uBTCN/AOther Payment SystemsSeveral minutesDepends on the payment systemVariesN/ANotesCommissions: Withdrawal fees may vary depending on the payment system. For example, WebMoney charges a 0.8% fee (max $50), while Bitwallet charges ¥100 per transaction and ¥824 for bank withdrawals.Negative Balance Compensation: IFC Markets reserves the right to charge for accrued negative balance compensations if applicable.Bonus Fund Cancellation: If a withdrawal request is made, any accrued bonus funds may be canceled as part of promotional terms.Customer Service Customers can visit their office or get in touch with customer service line using the information provided below: Telephone: +44 2039661649 (English) +1 6136864362 (English) +41 31 528 21 62 (French) Email: fr@ifcmarkets.com; support@ifcmfx.com; info@ifcmarkets.com; ib@ifcmarkets.com Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram and YouTube.