IS6FX Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Regulated in Mauritius Retail Forex License MT4 Full License MT5 Full License Medium potential risk Offshore RegulatedCompany profile
Rating Index
MT5 Crypto
MT5 Zero
IS6FX Forex Broker - Complete Information Guide
1. Broker Overview
IS6FX, officially known as IS6 Technologies Ltd, was established in 2016. The broker is headquartered in Kingstown, Saint Vincent and the Grenadines, with additional offices in the Philippines and Vietnam. IS6FX operates as a private entity, targeting both retail and institutional clients. The broker has made significant strides since its inception, focusing on providing a wide range of trading services and products to a global clientele.
Over the years, IS6FX has expanded its offerings, including various account types and a diverse selection of trading instruments. A notable milestone in the broker's history is its recognition at the "Best Transformed Broker Award 2023." This accolade highlights the broker's commitment to improving its services and adapting to market demands.
IS6FX primarily operates as a No Dealing Desk (NDD) broker, providing access to over 180 trading instruments, including forex, cryptocurrencies, indices, commodities, and stocks. The broker aims to cater to both novice and experienced traders, offering high leverage options and a variety of account types to meet diverse trading needs.
2. Regulation and Compliance Information
IS6FX operates without regulation from any major financial authority, which raises significant concerns regarding the safety of client funds. The broker is registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, but this jurisdiction is known for its lax regulatory framework.
The registration number for IS6FX is SVG FSA 25965 - IBC - 2020, but it is crucial to note that the FSA does not regulate forex trading, leaving clients without the protections typically offered by regulated brokers. The absence of a robust regulatory framework means there are no guarantees regarding fair trading practices or the security of client funds.
IS6FX does implement some compliance measures, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, but these measures are not mandated by a regulatory body. Consequently, clients should exercise caution when engaging with this broker, as the lack of oversight poses a higher risk of potential fraud or mismanagement.
3. Trading Products and Services
IS6FX offers a comprehensive range of trading products, catering to various market needs. The broker provides access to over 31 forex currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY. Additionally, traders can explore a variety of CFD products, encompassing stock indices, commodities, precious metals, and cryptocurrencies.
The broker features CFDs on popular indices such as the DAX, NASDAQ, and S&P 500, along with commodities like crude oil (WTI and Brent) and precious metals including gold and silver. IS6FX also allows trading in 69 cryptocurrencies, reflecting the growing interest in digital assets.
IS6FX frequently updates its product offerings to meet the evolving demands of traders. The broker provides retail trading services tailored to individual investors, while also catering to institutional clients with customized solutions. However, details regarding institutional services, such as white-label solutions or asset management, are not extensively covered in the available resources.
4. Trading Platforms and Technology
IS6FX supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are widely recognized for their user-friendly interfaces and robust trading capabilities. Traders can access these platforms on various devices, including Windows, macOS, iOS, and Android, as well as through web-based applications.
The broker's execution model is NDD, ensuring that traders receive direct market access without interference from dealing desks. This model is designed to enhance transparency and efficiency in trade execution. IS6FX utilizes servers located in Singapore, providing a reliable trading environment with fast execution speeds.
For traders interested in automated trading, IS6FX offers a Virtual Private Server (VPS) service. This allows clients to run automated trading strategies without the need for their personal computers to remain online continuously. Clients with a total account balance of ¥500,000 (approximately $5,000) are eligible for free VPS services, while others may incur a monthly fee.
5. Account Types and Trading Conditions
IS6FX provides a variety of account types to accommodate different trading preferences. The available accounts include:
- Micro Account: Minimum deposit of ¥5,000 (approximately $36), leverage up to 1:1,000.
- Standard Account: Similar conditions as the Micro Account, also requiring a minimum deposit of ¥5,000.
- Pro Zero Account: Requires a minimum deposit of ¥20,000, offering tighter spreads and leverage up to 1:1,000.
- Leverage 6666 Times Account: Unique account type with a minimum deposit of ¥20,000, allowing leverage up to 1:6,666.
- Crypto Account: Exclusively for cryptocurrency trading, with a minimum deposit requirement of ¥5,000.
IS6FX offers a demo account for traders to practice without risking real funds. The leverage options across different accounts vary, with the maximum leverage being particularly high at 1:6,666 for specific account types. However, the spreads are relatively wide, which may affect trading profitability.
6. Fund Management
IS6FX supports multiple deposit methods, including credit and debit cards, bank transfers, and cryptocurrencies such as Bitcoin, Ethereum, Tether, and USD Coin. The minimum deposit requirement varies by method, with a standard minimum of $50 or ¥5,000 for most account types.
Deposits are generally processed quickly, with cryptocurrency deposits typically completed within 30 minutes and card deposits processed immediately. Notably, IS6FX does not charge any deposit fees.
Withdrawal methods include bank transfers and cryptocurrency transactions, with minimum withdrawal amounts set at ¥5,000 (approximately $50) for bank transfers and varying amounts for cryptocurrencies. Withdrawals can take 1-3 business days to process, and clients are allowed one free withdrawal per month. Subsequent withdrawals incur a 2% fee of the withdrawal amount.
7. Customer Support and Educational Resources
IS6FX offers customer support through various channels, including email and an inquiry form on their website. The support team operates 24/7, providing assistance in multiple languages, including English, Chinese, Japanese, and Spanish. However, there is no phone support available, which may limit immediate assistance for traders.
The broker is currently developing educational resources, including a glossary and trading manuals, although these are primarily available in Japanese. Traders can also access market analysis services, including daily updates and research reports, to enhance their trading strategies.
8. Regional Coverage and Restrictions
IS6FX primarily services clients in Asia, particularly in regions where access to financial markets is limited. However, the broker does not accept clients from certain countries, including Canada, the United States, North Korea, and several others. The specific restrictions are in place to comply with local laws and regulations.
In conclusion, while IS6FX offers a wide range of trading products and services, potential clients should exercise caution due to the broker's unregulated status and the associated risks. The high leverage options and diverse trading platforms may appeal to some traders, but the lack of regulatory oversight raises significant concerns about fund safety and withdrawal processes.
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Latest Reviews
Naaty Borges
Brazil
Good support and stable platform
Positive
06-17
Antonio Alves
Brazil
Great broker, specialized support!!
Positive
06-17
pompo
Japan
There wasn't anything particularly noticeable or bad about spreads or execution. Since there are courses with leverage higher than 1000x, I think that part is appealing.
Positive
16h