Infinox is a global online brokerage that offers limited forex and CFD instruments for trading on three trading platforms; MT4, IXO & CQG. Social trading is supported via ZuluTrade as is Autochartist for market analysis.
Infinox Review, Pros & Cons
- Strict regulation
- Financial Services Compensation Scheme (FSCS)
- Social trading powered by ZuluTrade
- Technical analysis via Autochartist
- Multiple trading platforms including the popular MT4
- Clients from USA and Belgium are not accepted
- Limited trading instruments
- No comprehensive trader educational resources
In this detailed Infinox review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Infinox was established in 2009 with the vision of providing a trading platform that is focused on the client. The broker started operations in the UK but has since established a global presence with thousands of clients from different countries across the world.
Infinox provides its clients with the necessary tools to trade forex, indices, equities, commodities, futures and cryptocurrencies. The online broker also offers modern platforms loaded with the necessary tools for trade executions and analytics. All trading styles are allowed including scalping, hedging, use of trading robots, etc.
The broker has also been recognised for its online trading services through industry awards. Infinox has won up to 7 awards including ‘the most innovative forex broker in the UK in 2018’ and the ‘best Forex trader’ in 2017.
Infinox Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA). The license number is 501057.
The FCA regulation mandates Infinox to identify all clients using the “Know Your Customer” (KYC) procedures. The broker accepts the soft copy of a valid international passport, National ID card or Driver’s License. In addition to that, a copy of the client’s bank statement or utility bill is also required. KYC is carried out during the registration of new clients.
Clients’ funds are insured by the Financial Services Compensation Scheme (FSCS). If in the future Infinox becomes insolvent, the FSCS can compensate eligible clients up to £85,000.
The trading platforms and website are protected with a secured socket layer (SSL). The whole duty of the SSL is to encode all data transmitted between the client workstation and Infinox servers. This helps to protect the whole system from cyber attacks and internet fraudsters.
Infinox states that the information and services provided on its website is not directed at residents of the United States, Belgium or any other country where distribution or use would be contrary to local law or regulation. Some Infinox broker features and products mentioned within this Infinox review may not be available to traders from specific countries due to legal restrictions.
This is the industry standard and the leading platform primarily used by forex and CFD traders. The MT4 platform was designed by MetaQuotes Software Inc. and has been around since 2005. The platform is well accepted because of its versatility and scalability.
Infinox provides the MT4 as WebTrader, desktop app for Windows and MAC OS and also for mobile devices running on Android and iOS. The following are some of the features of the MT4:
- It supports the use of trading robots to automatically open and close trades.
- The application interface is simple, intuitive and fully customisable.
- Allows fast connections to major markets and speedy trade executions.
- It supports multiple order types including pending orders, stop loss, take profit, etc.
- It enables complex charting and analysis using technical indicators, drawing tools, etc.
- Allows access to the MetaTrader market where traders can purchase EAs, indicators, and other trading tools and services.
- MQL programming interface for developing custom indicators, scripts & EAs.
IXO is Infinox’s flagship trading platform that is designed by traders for traders. The platform is user friendly and it is replete with trading tools that enables the trader to manage his daily activities easily and effectively. It runs on the web browser eliminating all downloads and operating system compatibility issues. Here are a few of the features of the IXO platform:
- All instruments can be displayed on 7 Chart styles.
- The charting package is provided by TradingView; a renowned third party charting package.
- Over 80 technical indicators for conducting in-depth chart analysis.
- Available in Italian, Portuguese and English.
- Customisable watch lists, charts and layouts.
- Trading opportunities and analysis is live on the platform, powered by Dow Jones.
- Different types of orders including guaranteed stop, guaranteed orders, hedge trade, etc.
This is the web-based trading platform from the data analytical experts that have been in operation for over 35 years. Features from other CQG products have been integrated into the CQG desktop which gives it the advantages of enhanced graphics, analytics and several trading tools. Here are some features of the CQG desktop:
- Built on html5; it requires no downloads and works on all devices and operating systems.
- It features hybrid order tickets.
- RSS News is featured on the platform.
- Market data and trade executions via CQG infrastructure.
- It features quote boards, quote spreadsheet and heat maps.
Infinox Trading Tools
This is a popular analysis tool designed as a standalone app and as an MT4 plugin application. The Autochartist constantly scans the charts throughout the day looking for a pattern and trading opportunities. When it finds one, the Autochartist alerts the trader. It can save traders time needed to analyse the charts of different trading instruments. Autochartist is fully customisable and user friendly. It also has built in risk calculator.
This is a leading social trading network and trading platform that brings traders from all over the world together. With ZuluTrade, traders can copy the strategies of other expert traders. It encourages traders to observe, learn and copy the strategies of expert traders. There are over 10,000 expert traders available for copying on the ZuluTrade network. Infinox clients are given access to ZuluTrade platform at no extra cost.
This is the news and daily analysis section of the Infinox website. It is prepared by the in-house experts. Unfortunately, it is not frequently updated.
The ‘Learn’ section of the Infinox website contains 3 articles on CFDs, ‘spreads and margin’ as well as ‘how trading works’. These articles are insufficient to train a beginner to an advanced level of trading knowledge.
The following trading instruments are available for trading on the platforms:
- 34 Currency pairs.
- 14 Indices.
- 20 Commodities.
- 5 Crypto assets.
- 10 Stocks.
- 5 Future contracts.
Infinox Accounts & Fees
The spreads for the benchmark EURUSD pair starts from 0.3 pips. The maximum leverage is 1:30 for retail accounts while professional trading accounts are offered a leverage of 1:300. Accounts can only be opened in USD, EUR, GBP, or AUD.
The following account types are accepted.
- IXO Account.
- MT4 STP Account.
- MT4 ECN Account.
- CQG Account.
Demo accounts are available on the MT4 and IXO platforms. It is loaded with $100,000 in virtual funds and allows traders to test the different trading platforms and conditions before opening a real account.
To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading. Match any two of these requirements to qualify as a professional client.
It is important to note that negative balance protection, Investor Compensation Fund and recourse to the Financial Ombudsman Service is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.
As broker fees can vary and change, there may be additional fees that are not listed in this Infinox review. It is imperative to ensure that you check and understand all of the latest information on the official Infinox website before opening a brokerage account.
The Infinox customer support team is available 24/5. They can be contacted via a ‘Get in touch…’ form available on the website. They can also be reached through email, phone support line as well as on instant web chat. The support team has a ‘Frequently Asked Questions (FAQs) section on the website that can provide instant answers to some common questions. On social media Infinox is on Facebook, LinkedIn, Instagram, Twitter and YouTube.
Infinox Deposit & Withdrawal
No cash or cheque payments are accepted. The bank account name must match the Infinox trading account name. Any transfer from third parties will be rejected. The minimum deposit is £1 or its equivalent in any of the base currencies. The following payment options are acceptable:
- Credit/Debit Cards: All major credit and debit cards such as Visa and Mastercard are accepted. American Express or Diners cards are not accepted. The deposits are processed instantly while withdrawals can take up to a week. Only funds deposited from a card can be returned to that same card through withdrawal.
- Bank Wire transfers: This method is used for both deposits and withdrawals. The only disadvantage here is that it takes 2-7 working days for the process to complete.
- Online Payments: Skrill and Neteller are the e-wallet payments gateways that are accepted by Infinox. Online payments are normally processed within an hour.
Infinox Account Opening
Infinox has adopted a flexible account opening procedure that is easy and straight forward. Clients are allowed to create a profile, enjoy the platforms and features. Later, they can complete registration and verifications. To open an account, click on the signup button.
Fill the form and answer all the compulsory questions which revolve around personal details, trading experience, source of funds and aim of trading. This helps to assess your suitability for the online brokerage services provided. Finally, KYC verification is required. This entails scanning and uploading of ID card and utility bill documents.
Infinox is an experienced broker that is regulated by the reputable FCA and maintains all the rules as imposed by the regulatory body. Traders’ accounts are segregated, all clients are verified and digital security is provided.
The broker offers a range of trading platforms including the IXO, CQG and the popular MT4. These platforms are modern and have features to suit both new and experienced traders.
Social trading is available via ZuluTrade; a leading social networking site in the world today. The popular Autochartist is also available to take off the rigorous hours spent by traders looking at various charts.
However, the assets compilation of Infinox is rather disappointing as it is less than 100. Competitor online brokers offer thousands of trading instruments on their platforms.
Infinox did not provide a comprehensive education centre with training videos, courses and articles. Rather only a few short articles are provided which is grossly insufficient. Also, there are no market news, trading insights and expert analysis from Infinox’s experts.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage 72.02% of retail investor accounts lose money when trading CFDs with Infinox. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.