IFC Markets Review
Richard Montana | March 27, 2022
IFC Markets is an innovative online forex and CFD broker that offers synthetic instruments and portfolio quoting methods through their proprietary trading platform, NetTradeX. They also provide MT4 and MT5 platforms and offer over 600 tradable instruments.
Pros / Cons
- Strict regulation for EU operations
- Advanced proprietary platform
- Portfolio quoting methods & synthetic instruments
- Education center
- International operations regulation
- No US clients
- No social trading network
- Not the lowest spreads
The IFC Markets Group consists of IFCM Cyprus Limited, IFCMARKETS.CORP, IFC Markets Ltd, and NetTradeX Limited. NetTradeX Limited is a software developer, while IFCM Cyprus Limited, IFCMARKETS.CORP, and IFC Markets Ltd offer online brokerage services.
Through their various brokerage firms, they offer forex and CFD trading in over 600 instruments across commodities, indices, precious metals, stocks, cryptos, and synthetic instruments on MT4, MT5, and their own NetTradeX platform.
They offer relatively good spreads, reliable execution, and negative balance protection. They also provide their traders with some helpful tools but they do not provide any significant social trading tools.
The IFCM Group is regulated in multiple jurisdictions and serves both European and international clients. The IFCM Cyprus Limited (formerly known as Infin Markets Limited) is registered as a Cyprus Investment Firm (CIF) with the number HE 276909 and is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license number 147/11.
Operating in the EU, the broker complies with the European Commission’s MiFID (Markets in Financial Instruments Directive) and is a member of the Investor Compensation Fund (ICF), which can compensate eligible investors, up to €20,000, in the event of solvency.
IFCMARKETS. CORP. is incorporated in the British Virgin Islands with the registration number: 669838. The broker is licensed by the British Virgin Islands Financial Services Commission (BVI FSC) to carry out investment business, under Certificate No. SIBA/L/14/1073.
IFC Markets Ltd is registered under No. LL16237 in the Federal Territory of Labuan (Malaysia) and is licensed by the Labuan Financial Services Authority (another tier 3 financial regulator) with the license number: MB / 20/0049.
IFCM Cyprus Limited serves clients from the European Economic Area, while IFCMARKETS. CORP and IFC Markets Ltd serve clients from other parts of the world, including Asia, Africa, Eastern Europe, and Latin America. But the broker states that they do not provide trading services for residents of the United States, Japan, and Russian.
Right from the time it was developed in 2005, the MetaTrader 4 trading platform has been very popular among traders all over the world. The platform is available on PC, iOS, Mac OS, and Android, and also has web and multiterminal versions. IFCM provides their traders with a full range of MT4 trading terminals.
MetaTrader 5 is an improvement on the MetaTrader 4 platform and has become popular among CFD traders in recent times. It comes with more technical indicators and more chart timeframes than MT4 and is specifically used for trading stocks. The platform is available to IFCM’s clients only on PCs running Windows OS as a desktop application or web-based terminal.
NetTradeX Trading Analytical Platform
In addition to the very popular MetaTrader 4 and 5 trading platforms, IFCM offers their clients the benefits of trading with their proprietary professional trading terminal NetTradeX. The platform comes with the following benefits:
- Fast trade execution speeds
- More instruments
- Place orders of any volume
- Portfolio trading (Portfolio Quoting Method)
Economic Calendar acts as an indication of upcoming events, data releases, and announcements that can cause possible changes in the financial markets. IFCM clients can track the most important financial events through this tool and be able to stay up to date with the things that go on in the markets.
Commodity Market Calendar
IFC Markets traders are offered a calendar of economic news on commodity markets to help them stay ahead of the events in the market. Users can highlight news on individual product groups and also view the news for the selected period of time.
Portfolio Quoting Method
Portfolio Quoting Method (PQM) is an innovative approach to the study of financial markets and analysis of the market dynamics. It is used to create synthetic instruments, otherwise known as personal composite instruments, which are useful for analyzing financial markets and studying complex interrelations between assets and their combinations on historical charts. This is accessible exclusively on the trading-analytical platform NetTradeX PC.
IFCM’s Educational Center covers the introductory topics a new trader needs to grasp the concept of forex and CFD trading, trading platforms, and profit and loss calculations.
IFC Markets provides video tutorial guides to help beginners understand the distinctive features of CFD and Forex trading and also introduce them to fundamental and technical analysis. There are also video tutorial guides for using their various platforms.
The broker has a number of e-books on their websites, which their clients can use to learn about the basic aspects of forex and CFD trading. Some of the books there cover technical indicators and chart patterns.
IFC Markets offers CFD trading in more than 600 instruments including currency pairs, precious metals, equity indices, stocks, continuous commodities, ETFs, commodity futures, cryptocurrencies, gold-based instruments, and a library of synthetic instruments created by the broker on their NetTradeX trading terminal.
There are several major, minor, and exotic currency pairs available for trading on this broker’s platform. Commodities available with this broker include coffee, corn, copper, cocoa, heating Brent crude oil, oats, and natural gas, as well as precious metals like gold, silver, palladium, and platinum.
The broker also offers CFDs in equity indices like S&P 500, Dow 30, FTSE 100, and others, as well as hundreds of stocks from different stock exchanges. Through their NetTradeX platform, they offer a wide range of synthetic instruments and portfolio trading.
IFC Markets offers various trading accounts with fixed and floating spreads for each of the trading platforms: NetTradeX, MetaTrader 4 and MetaTrader 5. An online CFD and Forex trading account with the broker can be in one of 3 currencies depending on the user’s choice — USD, EUR, and JPY. For NetTradeX, there is an additional currency, uBTC (1 uBTC = 0.000001 Bitcoin).
There are two basic live account types for each trading platform: Standard and Micro/Beginner.
- Standard: The minimum deposit is 1,000 USD/EUR or 100,000 JPY, and the maximum leverage is 1:200 (1:30 for EU residents). The minimum volume is 0.1 lot or 10000 units in NetTradeX, with a stop out level at 10%.
- Micro/Beginner: The minimum deposit is 1 USD/EUR or 100 JPY, and the maximum account size is 5,000 USD/EUR or 50,000 JPY. Maximum leverage is 1:400 (1:30 for EU residents); minimum volume is 0.01 lot or 100 units for NetTradeX; and stop out level is 10%.
There are Islamic accounts, which are swap free, and VIP accounts, which require a minimum deposit of 50,000 USD/EUR or 5,000,000 JPY. Demo accounts are also available that enable you to try the different platforms and practice your trading strategies with virtual funds.
IFC Markets provides customer support services in over 18 languages through multiple channels, including phone, email, Live Chat, Telegram, WhatsApp, Skype, Facebook Messenger, and Call back options. The customer service team is available to provide you with immediate support all through the trading hours from Sunday to Fridays, 24 hours a day.
IFCM accepts a number of payment methods for both fund deposits and withdrawals. Transaction charges vary with the type of transaction (deposit or withdrawal) and payment method — please see the broker’s website. Here are the available payment options:
- Bank wire transfer: It takes about 2-3 working days to process a deposit or withdrawal. The minimum you can deposit or withdraw is $100/€100/¥10,000
- Credit/Debit Cards: The broker accepts MasterCard and Visa cards. Deposit is immediate, but withdrawal takes 1-5 business days. The minimum you can withdraw is $100/€100/¥5,000
- Digital wallets: The broker uses NETELLER, Skrill, WebMoney, Bitwallet, CashU, and others. Deposits are processed immediately, but withdrawal may take up to 24 hours.
- Bitcoin: Processing time is 6 confirmations of the blockchain network, while the transaction fee is just the blockchain commission. The minimum deposit is 1000 uBTC (0.001 BTC).
- Western Union: Takes 3 working days to process. The minimum deposit is $100, while the minimum withdrawal is $15.
To open an account with IFCM Group, simply click on the ‘Open Account’ button on the top right corner of the broker’s website. Based on your location, the broker will assign you to any of their brokerage centers — Cyprus, BVI, or Labuan — and present a form.
After the registration, you will need to confirm your email address and upload your means of identification and proof of address. These documents may take some time to be verified, but once they are verified, you can fund your account and start your trading journey.
IFC Markets is a growing online forex and CFD broker that offers a lot of innovations. In addition to the popular MT4 and MT5 trading platforms, they offer their proprietary NetTradeX Trading Analytical Platform, which comes with some specialized tools.
The broker offers forex and CFD trading in currency pairs, precious metals, continuous commodities, commodity futures, ETFs, stocks, and indices. They also offer gold instruments and synthetic instruments via their NetTradeX platform.
Despite this, the trading brokers review team did not find IFCM to have the lowest spreads whilst they could also benefit from integrating social trading platforms.