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.
Learn more about our methodology and editorial policies.
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 carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
IFX Brokers User Reviews
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5-star
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4-star
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3-star
33%
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2-star
33%
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1-star
33%
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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 FOREX.com, 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 FOREX.com EUR/USD min, pips 0.5 0.1 0.7 EUR/USD max, pips 1.1 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 1.6 0.5 1.4 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 FOREX.com 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 5 EUR/USD avg spread 0.15 0.2 GBP/USD avg spread 0.2 0.4 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 FOREX.com 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 15 -
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.
- Demo account
- Exclusive VIP account with enhanced trading conditions
- Standard account with balanced trading conditions
- Micro lots are not available
IFX Brokers account types vs top competitors IFX Brokers Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent YesNoNoMicro NoNoNoSwap Free YesNoNoVIP 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.
- USDT (Tether) supported
- Bank wire transfers available
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- BTC not available as a base account currency
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
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 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat 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.
- Crypto trading
- Indices trading
- Copy trading platform
- No ETFs
- Bonds not available
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 Trading.com Currency pairs 55 60 69 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 69 Stocks YesYesNoCommodity futures YesYesNoCrypto 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. YesYesNoStock indices YesYesNoOptions 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 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM 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.
- Quick KYC verification (1 business day or less)
- Low minimum deposit requirement
- Fully online account opening process
- Account setup process may feel less convenient for beginners
IFX Brokers account opening IFX Brokers Plus500 Trading.com Online Registration YesYesYesMinimum deposit $10 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 7 20 KYC time (days) 1 3 2 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
How do reviews describe IFX Brokers’ trading commissions and other fees?
Reviews note that IFX Brokers has generally low trading and non-trading fees, reflected in a fees score of 8/10. The broker offers tight EUR/USD spreads on Standard accounts (typically 0.5–1.1 pips), and there are no stated deposit, withdrawal, or inactivity fees.
What account types and trading conditions are available with IFX Brokers?
According to the review, IFX Brokers offers Demo, Cent, Standard, Premium, VIP, and Islamic (swap-free) accounts, but does not provide Micro or Managed accounts. Minimum deposits range from $10 on Cent and Standard accounts to $1,000 on VIP, with spreads starting from 1.6 pips on Cent down to 0.5 pips on VIP plus a $6 per-lot fee, and clients can open up to 36 trading accounts across platforms and currencies.
What do user reviews say about overall satisfaction with IFX Brokers?
Based on available user reviews, overall satisfaction with IFX Brokers is mostly negative, with a user satisfaction score of 4/10 from three reviews. The distribution shows 33% of reviews at 3 stars, 33% at 2 stars, and 33% at 1 star, and there are no 4- or 5-star ratings reported.
What deposit and withdrawal options and limits are mentioned for IFX Brokers?
The review states that IFX Brokers supports deposits and withdrawals via Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, and Ethereum, with no deposit fee and a low minimum withdrawal requirement. The minimum deposit is $10 and the minimum withdrawal is 50 ZAR, and supported base account currencies are USD and ZAR.
How is IFX Brokers customer support evaluated in reviews and feedback?
The customer support of IFX Brokers is described as having weaknesses in responsiveness and depth of assistance, with delays and the need for repeated contact noted in testing. Support is available 24/5 in 30 languages via phone, email, and tickets in the user account, but there is no live chat or support via instant messengers and social networks.
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