IFC Markets Review

Category: Reviews | Author: Trading Brokers | Date: September 8, 2023

Choosing a broker is one of the most important decisions for any trader or investor. A broker can make or break your trading experience, depending on the quality of its services, products, and features. But how do you know which broker is right for you? How do you compare different brokers and evaluate their strengths and weaknesses? In this article, we will review one of the brokers in the market, IFC Markets. We will look at its regulation, platforms and tools, education, markets, accounts, and funding options. We will also highlight some of the pros and cons of trading with IFC Markets, and give you some tips on how to get started. By the end of this article, you should have a better idea of whether IFC Markets is a suitable broker for your trading needs and goals.

Pros & Cons

  • Offers a range of trading tools, such as market analysis, trading signals, economic calendar, calculators, and widgets
  • Offers various account types, including Islamic (swap-free) account
  • Offers over 650 trading instruments, including synthetic instruments
  • Provides access to various trading platforms, such as NetTradeX, MetaTrader 4, and MetaTrader 5
  • Has a comprehensive education section and a trading academy
  • Not available in some countries, such as the US, Canada, Japan, and others
  • Has a limited customer support service, which is only available via phone, email, and callback request
  • Mainly regulated by the BVI FSC, which has a questionable reputation
  • Has a high minimum withdrawal amount of $3000 for bank transfer

Summary

IFC Markets

IFC Markets

IFC Markets, established in 2006, is an international Forex and CFD broker regulated by the BVI FSC and CySEC. It offers over 650 trading instruments, including unique synthetic options via the GeWorko Method. Traders can access various platforms, including MetaTrader 4, MetaTrader 5, NetTradeX, and WebTerminal, along with an array of trading tools. The broker provides extensive educational resources and multilingual support. It offers four account types, with a minimum deposit of $1 for the Beginner/Standard account and $1000 for others, all featuring a maximum leverage of 1:400. Spreads start from 0.4 pips for the Beginner/Standard account and 1.8 pips for the Micro account, with no commissions or hidden fees. IFC Markets supports diverse funding methods and maintains a client-friendly fee structure for deposits and withdrawals. While it boasts numerous strengths, traders should also consider certain limitations when evaluating IFC Markets as their broker of choice.

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Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

IFC Markets operates under the regulatory purview of the British Virgin Islands Financial Services Commission (BVI FSC), bearing license number SIBA/L/14/1073. The BVI FSC assumes responsibility for supervising and governing the financial services sector in the British Virgin Islands. However, it’s worth noting that the reputation of this regulatory authority has been subject to scrutiny due to relatively lenient registration criteria.

Furthermore, IFC Markets is a constituent of the IFCM Group, a conglomerate encompassing various entities subject to regulation and licensing by different international bodies. These include the European CySEC, the Labuan FSA, and the National Bank of Georgia. These regulatory bodies impose more stringent criteria concerning aspects such as capital adequacy, reporting, auditing, and investor compensation mechanisms.

To bolster client confidence, IFC Markets upholds a commitment to the segregation of client funds. These funds are meticulously held in segregated accounts with reputable financial institutions like HSBC, RCB Bank, and Bank of Cyprus. This practice ensures that client funds remain distinct from the broker’s own capital, safeguarding them against unauthorized usage. Moreover, IFC Markets fortifies its risk management strategy by securing professional indemnity insurance through AIG Europe Limited, offering protection against claims stemming from negligence, errors, or omissions in the provision of financial services.

While IFC Markets operates as a regulated broker with multiple licenses from diverse jurisdictions, traders should exercise due diligence. They ought to be cognizant of the nuances and constraints associated with each regulator and confirm their eligibility to trade with IFC Markets within their respective regions.

Platforms & Tools

Platforms and tools constitute the backbone of a trader’s toolkit, enabling access to markets, order execution, chart analysis, and automation of strategies. IFC Markets furnishes a diverse selection of trading platforms to accommodate varying preferences and devices. They include:

  • NetTradeX: IFC Markets introduces its proprietary advanced trading platform, NetTradeX empowers traders to craft synthetic instruments via the patented GeWorko Method.
    NetTradeX

    NetTradeX

    This platform supports rapid trade execution, orders of any volume, and portfolio trading, and boasts a roster of over 650 tradable instruments. It is accessible across a wide range of devices, including PC, Mac, iOS, Android, Windows, and Windows Phone.

  • MetaTrader 4 (MT4): Acknowledged as one of the world’s most favored trading platforms, MT4 combines technical analysis capabilities, reliability, security, and support for automated trading through Expert Advisors.
    MT4 Platform

    MT4 Platform

    It offers access to a substantial portfolio of over 600 trading instruments. MT4 is compatible with PC, Mac, WebTerminal, iOS, Android, and Windows devices.

  • MetaTrader 5 (MT5): The latest iteration of the MetaTrader series, MT5 elevates trading with enhanced features.
    MT5 Trading Platform

    MT5 Trading Platform

    These include multi-asset support, market depth, hedging and netting modes, an economic calendar, and access to over 600 trading instruments. MT5 is accessible on PC, Mac, WebTerminal, iOS, Android, and Windows devices.

Complementing these platforms, IFC Markets enriches the trading experience with a suite of indispensable tools:

  • Market Analysis: Daily market insights, technical analysis, wave analysis, market sentiment assessments, and trading signals are provided for various instruments.
  • Economic Calendar: An essential calendar of pivotal economic events and indicators is offered, aiding traders in staying attuned to potential market-moving catalysts.
  • Calculators: IFC Markets equips traders with calculators for margin requirements, profit/loss estimation, pip value computation, swap calculation, and synthetic instrument creation.
  • Widgets: Enhancing real-time decision-making, IFC Markets furnishes widgets encompassing live quotes, charts, currency conversion tools, market sentiment indicators, and synthetic instrument creation utilities.

Education

Education is a pivotal aspect for traders seeking to hone their market knowledge and skills. IFC Markets prioritizes trader development by offering an all-encompassing educational repository such as:

  • Articles: IFC Markets supplies informative articles spanning various trading facets, including market analysis, trading strategies, risk management, technical indicators, and more.
  • Videos: Comprehensive video tutorials cover platform utilization, tool guidance, technical analysis insights, trading signals, and the intricacies of synthetic instruments.
  • Webinars: Interactive live and recorded webinars delve into diverse trading topics like market overviews, wave analysis, portfolio trading, and more. Traders can actively engage with experts, posing questions during these sessions.
  • Books: A wealth of free e-books cover essential subjects pertinent to trading, such as Forex fundamentals, technical analysis, trading psychology, and beyond.
  • Glossaries: Comprehensive glossaries elucidate trading terminology, demystifying Forex terms, CFD concepts, technical analysis jargon, and more.

Augmenting this, IFC Markets houses a dynamic trading academy featuring interactive courses and quizzes tailored to cater to both novices and advanced traders┬╣. These courses encompass crucial topics spanning Forex fundamentals, technical analysis, trading strategies, risk management, and beyond. The quizzes serve as a litmus test of traders’ comprehension and knowledge retention.

Markets

IFC Markets distinguishes itself by providing access to over 650 trading instruments spanning multiple markets:

  • Currency Pairs: With IFC Markets, traders can delve into the world of 49 major, minor, and exotic currency pairs, featuring both floating and fixed spreads. Spread values vary depending on the chosen account type, with rates commencing at 0.4 pips for EUR/USD on the MetaTrader 4 or 5 (MT4/5) platform.
  • Stocks: IFC Markets unlocks opportunities to trade CFDs linked to a vast selection of over 500 stocks originating from countries including the US, UK, Germany, France, Japan, Canada, and Russia. Additionally, traders have the unique option to craft their own synthetic instruments using the innovative GeWorko Method.
  • Indices: The broker extends access to CFDs based on more than 20 major stock indices hailing from the US, Europe, Asia, and Australia. Similar to stocks, traders can also forge custom synthetic indices through the GeWorko Method.
  • Commodities: IFC Markets presents CFD trading across a spectrum of over 20 commodities, encompassing assets like oil, natural gas, gold, silver, copper, wheat, coffee, and sugar.
  • Metals: The broker facilitates CFD trading for over 10 metals, including gold, silver, platinum, palladium, copper, aluminum, zinc, nickel, lead, and tin.
  • Cryptocurrencies: IFC Markets offers CFD trading options for 5 cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Moreover, traders can engage in Bitcoin (BTC) and Ethereum (ETH) deposits and withdrawals.
  • ETFs: Over 50 exchange-traded funds (ETFs), spanning a broad spectrum of sectors, regions, commodities, and currencies, are available for CFD trading through IFC Markets.

Accounts

IFC Markets caters to traders with a diverse range of three distinct trading account types, each tailored to align with specific trading preferences and platforms: NetTradeX and MetaTrader 4. These accounts are as follows:

  • Demo Account: Designed for traders seeking a risk-free introduction, the demo account offers the opportunity to hone trading skills using virtual funds. There are no time limitations, ensuring ample practice.
  • Beginner Account: Crafted for those taking their initial steps into live trading, the Beginner account requires a minimum deposit of just $1. With leverage up to 1:400, fixed spreads starting at 1.8 pips, and a minimum deal volume of 100 units for NetTradeX and 0.01 lots for MetaTrader 4, it offers a low-risk entry point.
  • Standard Account: Tailored for experienced traders seeking greater flexibility, the Standard account entails a minimum deposit of $1000, leverage up to 1:200, and spreads that can be either fixed or floating depending on the chosen platform and instrument. The minimum deal volume is 10,000 units for NetTradeX and 0.1 lots for MetaTrader.

In adherence to its commitment to diversity and inclusivity, IFC Markets also extends an Islamic (swap-free) account option for traders adhering to Islamic principles, allowing them to trade without interest charges or swaps. This account mirrors the conditions of the Standard account, except for the absence of swap or rollover interest on overnight positions.

It’s noteworthy that IFC Markets refrains from imposing commissions or hidden fees across its range of accounts. Moreover, it places no restrictions on trading strategies, permitting traders to engage in scalping, hedging, or arbitrage strategies without limitations.

Funding

IFC Markets goes the extra mile by offering a diverse selection of funding methods for its accounts, ensuring accessibility for all. These methods encompass traditional bank transfers, credit/debit cards, e-wallets (including Skrill, Neteller, and WebMoney), and local payment systems such as Perfect Money and QIWI Wallet. Additionally, IFC Markets accommodates the modern era of cryptocurrencies by supporting both Bitcoin (BTC) and Ethereum (ETH) for both deposits and withdrawals.

The minimum deposit threshold varies depending on the chosen account type, with the Beginner account setting it at a mere $1, while the Standard account requires a minimum deposit of $1000. On the withdrawal front, the minimum amount stands at $1 for e-wallets and $3000 for bank transfers.

In terms of processing times, deposits are typically rapid, often instant, or completed within a few hours. Conversely, withdrawals may take slightly longer, ranging from 1 to 5 business days, contingent upon the chosen method. Importantly, IFC Markets refrains from imposing any fees on deposits or withdrawals. Nevertheless, it’s important to note that certain payment providers may impose their own fees, which lie beyond IFC Markets control.

Conclusion

In summary, IFC Markets, an established Forex and CFD broker, offers traders a versatile and comprehensive trading experience. With its extensive range of over 650 trading instruments spanning multiple markets, including currencies, stocks, indices, commodities, metals, cryptocurrencies, and ETFs, traders have ample options to diversify their portfolios. The availability of various trading platforms, such as NetTradeX, MetaTrader 4, and MetaTrader 5, ensures traders can choose the platform that best aligns with their trading style and goals. Furthermore, IFC Markets places a strong emphasis on trader education, providing a wealth of resources and a trading academy for learners at all levels. While their regulatory status varies across jurisdictions, the broker prioritizes the safety of client funds through segregation and professional indemnity insurance. With flexible account options and a multitude of funding methods, IFC Markets caters to traders with varying needs and preferences, offering a robust and accommodating trading environment. However, it’s worth noting that while IFC Markets offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

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IFC Markets is an international Forex and CFD broker that offers a wide range of trading instruments and platforms. It also has a strong educational section and customer support service. It is suitable for traders of all levels and preferences.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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