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IFX Brokers -

Score

4.49 /10
Average

IFX Brokers

South Africa

5-10 years

Regulated in South Africa

Financial Service Corporate

MT5 Full License

Suspicious Overrun

Medium potential risk

https://www.ifxbrokers.com/

Influence

B

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Comparison

Quantity 1

Exposure

Open Account
Website

Score

Regulatory Index3.51

Business Index7.30

Risk Management Index0.00

Software Index9.59

License Index3.51

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
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Broker Information

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Company Name

IFX BROKERS HOLDINGS (PTY) LTD

Company Abbreviation

IFX Brokers

Platform registered country and region

South Africa

Company website

Facebook

Instagram

Company summary

Pyramid scheme complaint

Expose

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WikiFX Risk Alerts
Previous Detection : 2025-04-30
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 48021)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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Unable to Withdraw

Unable to withdraw

i cant withdraw my funds while my account is verified

TheeBlackBullFx
2022-12-21 20:44
IFX Brokers · Company summary
IFX Brokers Review Summary
Founded2016
Registered Country/RegionSouth Africa
RegulationFSCA (exceeded)
Market InstrumentsForex, indices, commodities, cryptos, and shares
Demo Account✅
LeverageUp to 1:1000
SpreadFrom 1.3 pips (iFX Standard account)
Trading PlatformMT4, MT5
Minimum Deposit$10
Customer SupportContact form
Phone: +27 87 944 7273 07:30-16:30 GMT (Monday-Thursday) / 07:30-16:00 GMT (Friday)
Email: support@iFXbrokers.com
Address: 79 Da Gama Road, Jeffreys Bay, South Africa
Regional RestrictionsAfghanistan, Canada, Democratic Peoples Republic of Korea, EU Member States, Ghana, Iceland, Indonesia, Iran, Iraq, Liechtenstein, Libya, Norway, Mongolia, Myanmar, Nicaragua, Panama, Somalia, Syrian Arab Republic, UAE, Uganda, United Kingdom, United States of America, United States Minor Outlying Islands, Yemen, Zimbabwe

IFX Brokers, a trading name of IFX Brokers Holdings (Pty) Ltd, is allegedly a multi-asset broker registered in South Africa that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and floating spreads from 0 pips on the MT4 and MT5 trading platforms via 6 different live account type. However, its FSCA license has been exceeded.

IFX Brokers' homepage

Pros and Cons

Pros Cons
Wide range of trading instrumentsExceeded FSCA license
MT4 and MT5 providedNo 24/7 customer support
Flexible leverage ratiosRegional restrictions
Various methods to deposit

Is IFX Brokers Legit?

IFX Brokers is not regulated well. Its license of the Financial Sector Conduct Authority (FSCA) has been exceeded, holding Financial Service Corporate license with No. 48021.

Financial Sector Conduct Authority (FSCA)
Regulatory Status Exceeded
Regulated by South Africa
Licensed Institution IFX BROKERS HOLDINGS (PTY) LTD
Licensed TypeFinancial Service Corporate
Licensed Number48021
Exceeded FSCA license

What Can I Trade on IFX Brokers?

IFX Brokers supports trading forex, indices, commodities, crypto, and shares. There's no ETFs trading or bonds trading. But overall, you still have a good mix of investment options.

Tradable Instruments Supported
Forex✔
Commodities✔
Indices✔
Cryptocurrencies✔
Shares✔
Bonds❌
Options❌
ETFs❌
Mutual Funds❌
What Can I Trade on IFX Brokers?

Account Type

IFX Brokers has six kinds of accounts: the iFX Premium, iFX Standard, iFX Vip, iFX Islamic, iFX Cent, and iFX Raw accounts. The minimum deposit requirements for each account are as follows:

Account TypeMinimum Deposit
iFX Islamic$10
iFX Cent
iFX Raw$250
iFX Premium
iFX Standard
iFX Vip$1,000
Account comparison

Leverage

IFX Brokers offers flexible leverage up to 1:1000 for accounts. However, high leverage can magnify profits, but it also significantly amplifies the potential for losses.

Account TypeMaximum Leverage
iFX Premium1:500
iFX Standard
iFX Vip
iFX Islamic
iFX Raw
iFX Cent1:1000

IFX Brokers Fees

IFX Brokers sets rather high spreads for their accounts. In addition, a commission of $6 is levied on the iFX Vip and the iFX Raw accounts. No commission is charged for the other accounts.

Account TypeSpreadCommission
iFX RawFrom 0 pips$6
iFX VipFrom 0.5 pips
iFX PremiumFrom 1 pip❌
iFX StandardFrom 1.3 pips
iFX Islamic
iFX CentFrom 1.6 pips

Trading Platform

iFX Brokers offers traders access to both the Metatrader 4 and Metatrader 5 platforms, which are suitable for both beginners and experienced traders.

Trading PlatformSupported Available Devices Suitable for
MT4✔Web/ Phone/ DesktopBeginners
MT5✔Web/ Phone/ DesktopExperienced traders
MT4 and MT5

Deposit and Withdrawal

IFX Brokers offers a variety of deposit methods, including popular options like Visa, Mastercard, OZOW, PAYFAST, SKRILL, NETELLER, wire transfer, digital currencies like Bitcoin, Ethereum, and more.

Deposit Options

Deposit MethodDeposit CurrencyDeposit FeesDeposit Processing Time
OZOWZAR❌Instant
PAYFAST
MASTER CARD (Supported by PAYFAST)
VISA (Supported by PAYFAST)
WIRE TRANSFER2.50%24 - 48 business hours
SKRILLUSD/ZAR❌Instant
NETELLER
DIGITAL CURRENCIESUSD
Deposit

As for withdrawal, you can log in to your myiFXBrokers account to initiate a withdrawal. Withdrawals are typically processed within 2-4 hours

Withdrawal

News

NewsWikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading

Commitment, transparency, and trust are the most important traits that a client looks for in a broker or trading organization. It's encouraging to realize that IFX Brokers, a South African internet trading broker system, was formed on these principles. For its clientele all across the world, the firm has come to represent all of this and more.

WikiFX
2022-05-18 15:02
WikiFX report: South Africa’s IFX Brokers Spell Trust & Commitment through Transparent Trading

News1 Minute to Know IFX Brokers Before Trading

IFX Brokers is a South African-based online trading broker that offers its clientele ground-breaking technology.  IFX Brokers facilitates one-stop trading and investing experience for private and institutional clients, providing them with the highly advanced MetaTrader 4 and Metatrader 5 platforms for online trading of more than 200 instruments across 6 asset classes.

WikiFX
2022-05-14 12:30
1 Minute to Know IFX Brokers Before Trading

NewsSouth Africa is experimenting with a new digital money

The BIS Innovation Hub and the South African Reserve Bank have announced the completion of a prototype system that allows international settlements to be made using central bank digital currencies.

WikiFX
2022-04-17 12:00
South Africa is experimenting with a new digital money

NewsBehind the good news of a strong rand is some bad news in South Africa

A strong rand typically makes all South Africans happy since it represents a vote of confidence in the country. The rand, on the other hand, is being propped up by expectations that the South African Reserve Bank would undertake a more aggressive rate-hiking cycle to head off any stagflationary price shocks in food and petrol, while maintaining in lockstep with the US Federal Reserve's more hawkish posture.

WikiFX
2022-04-14 14:54
Behind the good news of a strong rand is some bad news in South Africa

NewsTHE CBN HAS UNVEILED THE RT200 FX SCHEME, WHICH AIMS TO INCREASE NON-OIL EXPORTS

The Central Bank of Nigeria (CBN) has established the RT200 FX Program, which aims to boost foreign currency revenues.

WikiFX
2022-04-13 16:53
THE CBN HAS UNVEILED THE RT200 FX SCHEME, WHICH AIMS TO INCREASE NON-OIL EXPORTS

NewsTen major guides for Choosing a good broker for trading in South African

The fact that there are many brokers today in South Africa; seeking to attract traders to invest with them, makes it very difficult to choose the best broker for trading. Not all brokers are suitable for traders. Some are fraudulent sites manifesting as brokers and seeking for traders to scam. We have therefore provided in this article the basic guidelines for choosing a broker for trading; bothering on their proof of regulation and approval from WikiFX.

WikiFX
2022-04-12 12:09
Ten major guides for Choosing a good broker for trading in South African

NewsFive Different Types of Accounts Offered by Brokers to Nigerian Traders

Forex trading has become increasingly popular in Nigeria today. With the recent ban placed on all deposit Money Banks (DMBs) in Nigeria not to permit any form of crypto transactions; many Nigerians have resorted to forex trading which is in itself a legal business in Nigeria. To this end, most forex brokers operating in Nigeria have deemed it necessary to provide multiple account types for the Nigerian trader to choose from. Hence this work has elaborated on the five different types of accounts that Nigerian traders could choose after they have registered with their chosen broker.

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2022-04-12 11:54
Five Different Types of Accounts Offered by Brokers to Nigerian Traders

News10 Best Forex Brokers in South Africa that accept Skrill

Skrill is a popular online payment provider that is partnered with globally-recognised forex brokers, providing forex traders with a fast, reliable, and secure way to transfer funds from a trading account to their bank accounts. Of all the forex brokers that accept the use of Skrill online payments, the following are the best forex brokers in South Africa that accept Skrill deposits and withdrawals.

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2022-02-10 16:41
10 Best Forex Brokers in South Africa that accept Skrill
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FX1050390472
more than one year
He estado operando con esta empresa durante 1 mes y hasta ahora estoy satisfecho y continuaré operando. El depósito mínimo es de solo $ 10, lo que permite que más personas lo prueben. La mosca en el ungüento es que el servicio al cliente que ofrece no está disponible las 24 horas del día, los 7 días de la semana, lo que significa que a veces tengo que esperar horas o incluso uno o dos días para obtener una respuesta.
He estado operando con esta empresa durante 1 mes y hasta ahora estoy satisfecho y continuaré operando. El depósito mínimo es de solo $ 10, lo que permite que más personas lo prueben. La mosca en el ungüento es que el servicio al cliente que ofrece no está disponible las 24 horas del día, los 7 días de la semana, lo que significa que a veces tengo que esperar horas o incluso uno o dos días para obtener una respuesta.
Translate to English
2022-11-27 11:07
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随遇而安6812
more than one year
I really hope that all the traders can keep alert and never fall into the traps set by forex scammers. The forex trading by itself is already too risky, we should do everything to avoid scams!
I really hope that all the traders can keep alert and never fall into the traps set by forex scammers. The forex trading by itself is already too risky, we should do everything to avoid scams!
Translate to English
2023-02-15 17:36
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