Company profile
General Information & Regulation Founded in 1995, IFX Markets is a brokerage firm providing 24-hour forex trading services to hedge funds, money managers, and individual traders. IFX Markets is headquartered in Boston with offices in China and London, U.K. IFX Markets is not currently subject to any active regulation. Market Instruments In terms of trading intruments, IFX Markets offers 24-hour forex trading for hedge funds, money managers, and self traders. Minimum Deposit IFX Brokers offers a variety of different trading account types, including IFX Standard, IFX Raw, and IFX Islamic Accounts. The minimum initial deposit required by IFX Brokers as a start is USD100, which sounds relatively reasonable. However, since IFX Brokers is an unregulated broker, investors had better stay away from this broker. IFX Markets Leverage The maximum trading leverage for forex instruments offered by IFX Markets is up to 1:500, in terms of trading leverage. Unregulated brokers usually offers high trading leverage to attract traders, however, since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders. IFX Markets Spreads IFX Markets claims that its traders can trade 27 currency pairs with a spread of 0.2 pips on the EURUSD, 0.2 pips on the USDJPY, 0.2 pips on the GBPUSD, and 3 pips on the USDCHF. However, without any commissions mentioned, these two low spreads are likely to be here to attract new brokers. Margin Requirements The minimum trade size is 1 lot or 10,000 in the base currency. An account with a margin of 1% will open a position of $10,000 and require an initial margin of $100. Deposit & Withdrawal The minimum deposit requirement for IFX Markets is $500, and for deposits of $15,000 or more, users must use wire transfers. Additionally, there is no clear information about credit card transactions, IFX Markets will process user withdrawal requests within two business days, and for withdrawal over $25,000, only wire transfers are supported. Customer Support IFX Brokers provides traders with a professional customer support team that can be contacted via telephone, email, fax, online form, and social media.
Is IFX Markets safe or scam
United Kingdom
5-10 years
Jayson44765
Malaysia
I deposit 500 yuan for the first time, and it took less than half an hour for the account to make a profit of more than 100 yuan after I traded as they instructed. Then I tried to apply for a withdrawal of 613.5 yuan from the account, and it was soon received. The next day, at the instigation of them, I made another deposit of more than 13,000 yuan. Seeing that the profitability of the account was quite good, I deposited another 15,000 yuan. Under the instructions of the other party, I basically earned more than loss. After more than an hour, I tried to withdraw the capital of 28,000. The withdrawal application was approved, but the funds didn't arrive for a long time. The platform said that the account peak was not enough, and I must increase the funds to raise the peak before the withdrawal can be made. After that, I submitted an application again, which was directly rejected by the platform.
Exposure
2021-09-11