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Trade Forex Review: IFC Markets – A Comprehensive Analysis
In this detailed review, we will delve into the various aspects of IFC Markets, a prominent brokerage company based in Cyprus, which is part of the IFCM group. With over a decade of experience, IFC Markets has been serving a substantial clientele of 165 thousand clients. Additionally, they extend their international presence through affiliated organizations in the British Virgin Islands and Malaysia.
Regulation and Safety
Is IFC Markets a Regulated Broker?
IFC Markets operates under the trademark IFC Markets, with IFCM Cyprus Limited being the entity registered under the regulations of CySEC (Cyprus Securities and Exchange Commission). This regulatory oversight signifies their commitment to adhering to stringent European financial standards. Moreover, their international operations are facilitated through IFC Markets Corp. in the British Virgin Islands (BVI FSC) and IFC Markets Limited in Malaysia (LFSA).
Despite the offshore nature of some of these entities, the presence of a CySEC license underscores IFC Markets’ dedication to regulatory compliance and safety.
Customer Protection Measures
IFCM Cyprus Limited is a member of the Investor Compensation Fund (ICF) and is authorized to provide investment services in the European Economic Area (EEA) in accordance with MiFID regulations. Additionally, IFC Markets Corp. is insured by AIG EUROPE LIMITED against professional liability risks. Customer security is further bolstered through the segregation of customer funds and participation in the company’s bankruptcy compensation fund.
Leverage and Trading Accounts
Leverage Levels
Leverage in IFC Markets is subject to regulatory restrictions and the jurisdiction of the broker, as well as your place of residence. When trading with the European division of IFC Markets, the maximum leverage is set at 1:30 for Forex instruments. However, international affiliates provide access to significantly higher leverage, reaching up to 1:400.
Types of Trading Accounts
IFC Markets offers a range of trading accounts, each with its unique features. These accounts come with either fixed or floating spreads and are compatible with various trading platforms. Additionally, traders can attain VIP status, which grants access to flexible trading conditions, exclusive tools, free VPS access, and more. Clients adhering to Islamic finance principles can also open Islamic accounts without swaps.
Commissions and Spreads
IFC Markets caters to diverse trading styles, including scalping and hedging. The broker offers competitive prices and spreads, allowing traders to choose between fixed and floating spreads for CFD trading based on their preferences. Below are average spreads for key trading instruments.
- EURUSD: 1.8 points
Trading Platforms
A Multifaceted Approach
IFC Markets offers a range of trading platforms to suit various trading styles. Notably, they support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Moreover, they provide the innovative NetTradeX trading platform, tailored for professional traders. This advanced software offers features such as automated trading with expert advisors, a graphical interface for managing positions and orders, custom indicators, and service utilities.
Trading Instruments
IFC Markets provides traders with an extensive array of trading instruments:
- Forex: Trade 50 currency pairs with instant execution.
- CFDs: Access over 400 CFDs on stocks and indices.
- Commodity Futures: Choose from 19 commodity futures.
- Cryptocurrency Futures: Dabble in CFDs on cryptocurrency futures.
Deposit Methods and Minimum Deposit
IFCM supports various deposit methods, ensuring flexibility for their clients:
- Bank Transfers
- Bank Cards
- WebMoney
- Skrill
- Neteller
- Perfect Money
- QIWI
- Unistream
- Bitcoin
The minimum deposit requirement for opening an initial account with IFC Markets is impressively low, starting at just $1.
Conclusion
IFC Markets stands as a regulated Cyprus broker, offering access to a wide range of Forex and CFD instruments. Their business model revolves around transparent and trustworthy relationships with clients, employing STP (Straight Through Processing) technology across various platforms, including their proprietary platform with robust features.
Furthermore, IFC Markets goes the extra mile by providing multilingual customer support, training resources, and diverse trading accounts with both fixed and floating spreads. Before making your decision, it is advisable to read reviews of IFC Markets and consult our Forex broker rating for additional insights.
General Information about IFC Markets:
- Broker Name: IFC Markets
- Year of Foundation: 2006
- Headquarters: Cyprus
- Regulation: CySEC, BVI FSC, LFSA
- Trading Platforms: MT4, MT5, NetTradeX
- EURUSD Spread: 1.8 points
- Demo Account: Available
- Minimum Deposit: $1
- Base Currencies: USD, EUR, JPY, BTC
- Maximum Leverage: 1:400
- Assets: Currency pairs, stocks, indices, ETFs, metals, cryptocurrencies
- Deposit Methods: Bank Transfer, Visa/MasterCard, WebMoney, Skrill, Neteller, Perfect Money, QIWI, Unistream, Bitcoin
- Withdrawal Fee: Not specified
- Inactivity Fee: Applicable
- Islamic Accounts: Available
- Segregated Accounts: Offered
- PAMM Accounts: Not offered
- Partner Account: Supported
- Scalping: Allowed
- Automatic Trading: Supported
- Mobile Trading: Available
- Web Terminal: Accessible
- Social Trading: Supported
- Trading Signals: Provided
- VPS: Accessible
- Deposit Bonuses: Offered
- Contests: Available
- Customer Support: 24/5
In conclusion, IFC Markets emerges as a reputable broker that caters to a diverse range of traders with its comprehensive offerings and commitment to regulatory standards.
