INRFX Forex Broker

General Information & Regulation INRFX, a trading name of INRFX PTY LTD, is allegedly a forex and CFD broker registered in Belize since 2006 that claims to provide its clients with various tradable financial instruments with flexible leverage up to 400:1 and variable spreads from 0.2 pips on the Inrfx Web, MetaTrader4, MT4 WebTrader and Mobile MT4 trading platforms, as well as a choice of five different live account types and 24/5 customer support service. Here is the home page of this brokers official site: As for regulation, it has been verified that INRFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.15/10. Please be aware of the risk. Market Instruments INRFX advertises that it offers access to a wide range of trading instruments in financial markets, including forex, precious metals, CFD and stocks CFD. Account Types Apart from demo accounts, INRFX claims to offer five types of trading accounts, namely Classic, Islamic, Premium, Pro and Raw. The minimum initial deposit amount is $200 for the Classic account, while the other four account types have much higher minimum initial capital requirements of $500, $5,000, $10,000 and $25,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Classic, Islamic and Premium accounts can enjoy the maximum leverage of 400:1, while the Pro and Raw accounts can experience the leverage of 200:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads INRFX claims that different account types and trading assets have quite different spreads. Specifically, the EUR/USD spread on the Classic, Islamic, Premium and Pro accounts is fixed from 2 pips, 5 pips, 2 pips and 1.5 pips respectively, while only the Raw account holders can enjoy variable EUR/USD spreads as low as 0.2 pips. Trading Platform Available Platforms available for trading at INRFX are Inrfx Web, MetaTrader4, MT4 WebTrader and Mobile MT4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5. Deposit & Withdrawal INRFX says to accept deposits via Telegraphic Transfer, credit/debit cards like Visa and MasterCard, digital wallets like WebMoney, Skrill, Neteller and Buymereload, while withdrawals with Telegraphic Transfer, credit/debit cards like Visa, MasterCard, JCB and American Express, digital wallets like WebMoney, Skrill, Neteller, Sticpay and MPESA. The minimum initial deposit requirement is $20 for credit/debit cards, Skrill and Neteller, $100 for Telegraphic Transfer and WebMoney, and 4300 INR for Buymereload. The minimum withdrawal amount is $100 for Telegraphic Transfer, while $20 for other withdrawal methods. Telegraphic Transfer deposits and withdrawals of $3,000 and above will be charged some fees, while other deposits and withdrawals are said to be free. As for the processing time of deposit and withdrawal requests, most deposits are immediate, while most withdrawals can be processed from Monday to Friday 9 am-6:30 pm. It also may be a 6% administrative charge on the withdrawal request. More details are specified in the below screenshot. Bonuses & Fees INRFX claims to offer a 10% deposit bonus, yet we cannot be sure if the bonus can be withdrawn without any limitation. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients. The broker will charge a dormant fee of $15 monthly if there has been no activity (trading/withdrawals/deposits/internal transfers) in your Client Portal Account, which includes MT4 trading accounts and IB wallet for a continuous period of 90 calendar days. Customer Support INRFX‘s customer support can be reached by email: support@inrfx.com or live chat. Company address: No. 5 Cork Street, Belize City, Belize, C.A. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer. Risk Warning Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.