Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
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IFX Brokers Pros & Cons
- Minimum deposit is $10 or its equivalent;
- This broker is licensed by the South African regulator;
- Large choice of account types;
- Leverage is up to 1:1000 for retail and professional traders;
- 60 currency pairs are available;
- Account currencies are USD, EUR, GBP, and ZAR;
- Any trading strategy (except for arbitrage in any form) is allowed.
- Spreads are higher than those of other Forex brokers;
- No educational materials, market reviews, analytics, or trading calculators on the website;
- Contacting support in live chat and instant messengers is not available.
IFX Brokers is a Forex broker that offers trading cryptocurrencies, metals, and CFDs on indices and commodities. The company was registered in South Africa in 2018. It is licensed by FSCA (Financial Services Conduct Authority). IFX Brokers provides services to traders from 180 countries and offers a wide range of trading accounts with varying conditions, high leverage, and access to mobile and desktop MetaTrader platforms.
TU Expert Verdict
IFX Brokers demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Brokers Traders Prefer
IFX Brokers User Reviews
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3-star
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1-star
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of IFX Brokers have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and IG Markets, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of IFX Brokers with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, IFX Brokers’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
IFX Brokers Standard spreads IFX Brokers OANDA IG Markets EUR/USD min, pips 0.5 0.1 0.6 EUR/USD max, pips 1.1 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.6 GPB/USD max, pips 1.6 0.5 1.5 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
IFX Brokers RAW/ECN spreads IFX Brokers OANDA IG Markets Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.5 2.3 EUR/USD avg spread 0.15 0.8 GBP/USD avg spread 0.2 1 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with IFX Brokers. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
IFX Brokers Non-Trading Fees IFX Brokers OANDA IG Markets Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 0 -
Is IFX Brokers Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria6.3 /10IFX Brokers has a safety score of 6.3/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
IFX Brokers Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
FSCA SA Full Name Financial Sector Conduct Authority of South Africa Country of regulation South Africa Investor Protection Fund No specific fund Regulation Level Tier-2 IFX Brokers Security Factors Foundation date 2020 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.6 /10IFX Brokers offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Swap Free, VIP.
IFX Brokers covers the core account types, making it convenient for traders with different preferences and strategies.
- Cent account for beginners
- Exclusive VIP account with enhanced trading conditions
- Low minimum deposit
- Micro lots are not available
IFX Brokers account types vs top competitors IFX Brokers Plus500 OANDA Standard YesYesYesECN/Raw spread YesNoYesDemo YesYesYesCent YesNoNoMicro NoNoYesSwap Free YesNoYesVIP YesNoNoManaged NoNoNoIFX Brokers accounts trading conditions
IFX Brokers offers 5 live account types. The Cent account can only be opened in MT5; whereas, others can be opened both in MT5 and MT4. Accounts differ in deposit, leverage, spreads, and trading fees. Each user account can have one account of each type in 4 currencies.
Account types:
Account Type Description Cent The minimum deposit is $10, floating spreads are from 1.6 pips, and no additional fees; Standard The minimum deposit is $10, spreads are from 1.3 pips, and no fee per lot; Premium The minimum deposit is $250, spreads are from 1 pips, and no fees; VIP It is an account for experienced traders. The minimum deposit is $1,000, spreads are from 0.5 pips, and a $6 fee per lot; Islamic It is similar to the Standard account but without swaps. If traders are not ready to invest real money in Forex and want to practice trading with virtual funds, they can open a demo account.
Each IFX Brokers’ client can have up to 36 trading accounts in different currencies and platforms, which provides for effectively using each of them for specific strategies and purposes. Leverage is dynamic, which helps traders reduce or increase risks, and hence their potential profit.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.5 /10IFX Brokers received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
IFX Brokers provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Low minimum withdrawal requirement
- Bitcoin (BTC) accepted
- Bank card deposits and withdrawals
- No deposit fee
- Limited deposit and withdrawal flexibility, leading to higher costs
- PayPal not supported
- BTC not available as a base account currency
What are IFX Brokers deposit and withdrawal options?
IFX Brokers provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
IFX Brokers Deposit and Withdrawal Methods vs Competitors IFX Brokers Plus500 OANDA Bank Wire YesYesYesBank card YesYesYesPayPal NoYesYesWise NoNoNoBTC YesNoYesWhat are IFX Brokers base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. IFX Brokers supports the following base account currencies: USD, ZAR.
What are IFX Brokers's minimum deposit and withdrawal amounts?
The minimum deposit on IFX Brokers is $10, while the minimum withdrawal amount is 50 ZAR. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact IFX Brokers’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.3 /10IFX Brokers offers a limited selection of trading assets compared to the market average. The platform supports 200 assets in total, including 55 Forex pairs.
- 55 supported currency pairs
- Indices trading
- Crypto trading
- Bonds not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by IFX Brokers with its competitors, making it easier for you to find the perfect fit.
IFX Brokers Plus500 OANDA Currency pairs 55 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 200 2800 129 Stocks YesYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products IFX Brokers offers for beginner traders and investors who prefer not to engage in active trading.
IFX Brokers Plus500 OANDA Bonds NoNoYesETFs NoYesNoCopy trading YesNoYesPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at IFX Brokers by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with IFX Brokers in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at IFX Brokers is $10. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Low minimum deposit requirement
- Account setup process may feel less convenient for beginners
IFX Brokers account opening IFX Brokers Plus500 OANDA Online Registration YesYesYesMinimum deposit $10 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 7 10 KYC time (days) 1 3 3 Is IFX Brokers available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
Registration of a user account on the IFX Brokers website is a standard procedure that takes no more than 10 minutes. The registration steps are as follows:
Click the “Start Trading” button on this broker’s website.
Enter your personal information, phone number, and email address. Also, specify your country of residence, create a password, and select the wallet currency for your IFX Brokers’ user account. Then follow the link that will come to the email specified during registration to confirm it.
Features of IFX Brokers’ user account:
- Open a demo or trading account after submitting the required documents.
- Deposit funds to the wallet.
Additional features of the user account:
- Real-time transfer of funds from a wallet to trading accounts and vice versa;
- Ticket system for instant support;
- Useful tools, such as economic calendar, market review, and trading platform installation files;
- Change the leverage;
- User account history: free/used margin on current positions, balance and equity, and reports on withdrawals and deposits;
- Edit personal data.
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Customer Support
Score:We evaluated Customer Support at IFX Brokers by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria4.7 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationTechnical support is available 24/5. Communication is possible in 30 languages.
- Technical support is multilingual
- Quick responses to tickets in the user account
- No live chat on the website and in the user account
- Contacting the company via instant messengers and social networks is not available
To contact IFX Brokers, use the following channels:
- phone (a single number is indicated in the Contact section of the website);
- email;
- tickets in the user account.
Contacts Foundation date 2020 Registration address IFX Brokers Holdings (Pty) Ltd, 79 Da Gama Road, Jeffreys Bay, South Africa Regulation FSCA Official site https://ifxbrokers.com/ Contacts support@ifxbrokers.com +27 87 944 7273
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FAQs
Is IFX Brokers regulated and how secure is it for forex trading?
IFX Brokers is regulated by the Financial Sector Conduct Authority of South Africa (FSCA SA), which is classified as Tier-2 regulation. The broker has a safety score of 6.3/10, offers negative balance protection, and uses KYC verification, but it is not Tier-1 regulated and has been operating since 2020. More details on how we assess broker safety are available here: https://tradersunion.com/methodology-for-evaluation-of-brokers/.
What commissions and fees can traders expect with IFX Brokers?
IFX Brokers has a commissions score of 8/10, with low forex trading fees and tight EUR/USD spreads on Standard accounts, typically ranging from 0.5 to 1.1 pips. The broker does not charge deposit, withdrawal, or inactivity fees, and trading commissions on ECN/RAW accounts are charged per lot in addition to market-based spreads.
What types of trading accounts does IFX Brokers offer and what are their key conditions?
IFX Brokers offers Demo, Cent, Standard, Premium, VIP, ECN/Raw spread, and Islamic (swap-free) accounts, covering a range of trading needs. Minimum deposits start from $10 for Cent and Standard accounts, $250 for Premium, and $1,000 for VIP, with spreads starting from 1.6, 1.3, 1.0, and 0.5 pips respectively, and a $6 per lot fee on the VIP account. Clients can open up to 36 trading accounts across platforms and currencies, and leverage is dynamic.
How does the account opening process work at IFX Brokers?
Opening a trading account with IFX Brokers is fully online, with a minimum deposit of $10 and mandatory KYC verification. Registration typically takes about 7 minutes, KYC is completed within 1 business day, and the user account allows opening demo or live accounts, managing funds between wallet and trading accounts, accessing support tickets, and adjusting leverage.
How is customer support organized at this forex broker?
Customer support at this forex broker operates 24/5 and is available in 30 languages, with quick responses to tickets submitted through the user account. Support can be reached via phone, email, and ticket system, but there is no live chat or support via instant messengers and social networks, and overall responsiveness and depth of assistance may feel limited for some traders.
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