Forex is undeniably one of the fastest-growing trading markets in the world right now and even more so in South Africa. This article will cover common doubts and questions about trading with IFX brokers that come to the mind of a person new to forex trading in South Africa.
This article will go over some basics after a little introduction about IFX brokers. So let’s see what IFX brokers are.
IFX Brokers
IFX brokers is a forex broker formed in 2012 which is registered in South Africa. It differentiates itself from other brokers by offering competitive and feature-rich trading services that help nurture the trader’s needs regarding trading goals and strategies.
It provides an excellent environment and user-friendly top-tier customer services. It allows both institutional and private clients access to global markets and offers a wide selection of assets to choose from.
Now that you know a little about the IFX brokers, we’ll discuss the features that make it a viable and safe option over the other brokers.
Is it safe?
If you are looking for an instant answer, then we’ll tell you that yes, it is safe to trade with, but if you want to know why and how safe it is, continue reading
Regulated Broker
So the most important thing you should look in a broker is that whether it is regulated or not, being regulated means that it has been licensed with the FSCA (Financial Services Conduct Authority), which is a watchdog of the South African government ensuring financial safety of the citizens and denying any illegal activities. It also means that if you’re being scammed or losing your money, you will not be all on your own instead, you’ll have a local authority to report to reinstate your funds.
In simpler words going with a regulated broker gives you insurance that a helmet gives you when you are riding a bike. You might never need it, but it is a must-have.
The FSCA constantly holds audits and requires the licensed brokers to keep their customers informed about the services and policy changes, so you are not caught off guard and lose money because you weren’t aware of some details. It helps the customers to not getting fraud by their brokers. IFX broker is a licensed and regulated broker, has to meet the requirements of FSCA, and you are in relatively many safer hands.
Minimum Deposit
The IFX brokers offer both real trading and demo accounts. Demo accounts let you try out the broker without investing and risking your real money.
The minimum deposit limit on standard accounts is 100 USD which is right around the market average. Although the IFX VIP accounts require a 20,000 USD deposit which is a lot of money, it also offers many premium features.
Leverage
IFX brokers offer you 1:1500, very good leverage rates but with only high risk comes high reward. These are good rates to make money, but you can also lose a lot if there is a turn in the market.
Good Customer Service
IFX brokers have a customer support number on which you can call for any information or complaints. You can also contact them on their website or social media pages. Having a good customer support system is really important and provides an extra layer of safety.
Awards and reputation
IFX brokers don’t list any awards or nominations on their website, but they have won numerous awards and titles. It also puts a sense of security in the heart of customers while trading with a reputable broker.
IFX trading academy
To provide safety to your funds, IFX brokers offer services like a trading academy which is very beneficial for new traders, so they don’t lose their money because of the lack of knowledge about the market and trading.
MT4 trading platform
IFX brokers operate on one of the best and secure trading platforms. It is highly popular, and almost all of the important and big names in the broker market operate on this platform. It allows multiple chart setups and a range of advanced strategic tools. The platform has a range of useful features and capabilities, like one-click executions, technical indicators, stop and limit orders, live analytics, and others more. MT4 trading has diverse platform support so that you can use it over mobile phones or windows devices.
Pro-Tip
Before you invest your money with any broker, you need to do a little research for your own and see the reviews of people. IFX brokers have good customer reviews, so you don’t need to worry about it. You will always find some people who lose some money and blame the broker. The important thing to do is learn through their trading academy and use a demo account first, then start depositing a small amount of money.
Frequently asked questions about IFX brokers
Is IFX brokers a scam?
No, it is a legit broker licensed by the FSCA.
Are IFX brokers based in South Africa?
Yes, IFX brokers are based in South Africa and are regulated by government authorities.
How likely am I to make a huge profit with IFX brokers?
The amount of profit you can make with a broker depends on you more than it does on the broker, so if you study the market well and make the right decisions, you are likely to make money with any broker.
Can I trade with IFX brokers from anywhere?
Yes, you can trade with IFX brokers from anywhere around the world using their online platform and money depositing and withdrawal services.
Conclusion
So, we will definitely say that IFX brokers is very safe broker to trade with, and the risk of getting scammed or losing money is very low. Our research didn’t find any complaints or customer reviews claiming that IFX brokers are not safe to trade with. The online trading and security system is also secure and in place to provide safety for your transactions. Most importantly, it is regulated. Thanks for reading and happy trading.
