IFC Markets Broker Review

Company Overview

IFC Markets is an established online brokerage that offers a wide range of trading services for individual and institutional traders. Founded in 2006, the broker provides access to a variety of financial instruments, including forex, commodities, stocks, indices, and cryptocurrencies. Headquartered in Cyprus, IFC Markets is regulated by several financial authorities, ensuring a high level of trust and security for its clients.

IFC Markets focuses on providing innovative trading solutions and a user-friendly trading experience. With a range of account types, competitive spreads, and advanced trading platforms, the broker caters to both beginner and professional traders. The firm also offers a proprietary trading platform, which provides unique features that are not available on more common platforms like MetaTrader 4 or 5.

Pros and Cons

Pros

• Low minimum initial deposit of $1
• Unused account funds earn annual interest of up to 7%
• Portfolio Quoting Method allows users to create their own synthetic instruments and portfolios

Cons

• Higher Spreads on EUR/USD
• Not regulated by top-tier authorities
• Limited Offering of Investments

Security

IFC Markets takes several steps to ensure the security of its clients' funds and personal data:

• Regulation: The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which provides a level of oversight and protection for traders.
• Segregated Accounts: Client funds are held in segregated accounts, separate from the broker’s operational funds, ensuring that clients' money is protected in the event of the broker's financial troubles.
• SSL Encryption: The broker uses SSL encryption to protect sensitive data during transactions and account logins, ensuring a high level of security for clients’ personal and financial information.
• Two-Factor Authentication (2FA): For added security, IFC Markets supports two-factor authentication on accounts, ensuring that only authorized users can access their trading platforms and account details.

Despite these measures, the lack of regulation from top-tier authorities may make some traders wary of the broker’s overall reliability.

Tradable Instruments

IFC Markets offers a diverse range of financial instruments, catering to traders looking to trade across different markets:

• Forex: With over 60 currency pairs, including majors, minors, and exotics, traders have access to a wide selection of the forex market.
• Commodities: The broker offers CFDs on various commodities, including gold, silver, oil, natural gas, and agricultural products, allowing traders to participate in the global commodities market.
• Indices: IFC Markets provides trading in major global stock indices, such as the S&P 500, Dow Jones, and DAX, offering traders access to global equity markets.
• Stocks: Traders can also trade CFDs on individual stocks of major companies like Apple, Tesla, and Google, as well as stocks from various international markets.
• Cryptocurrencies: IFC Markets offers a selection of cryptocurrency CFDs, including popular digital currencies like Bitcoin, Ethereum, and Litecoin.
• ETFs: Exchange-traded funds (ETFs) are also available for trading, providing additional options for those interested in portfolio diversification.

This variety of instruments makes IFC Markets a suitable choice for traders who want to diversify their investments across different asset classes.

Account Types

Commissions and Fees

IFC Markets uses a spread-based pricing model for most accounts, with commissions charged on ECN accounts:

• Spreads: Spreads start from 1.8 pips on the Standard account, with tighter spreads on the ECN account. The ECN account offers spreads as low as 0.1 pips, but commissions of around $7 per lot are applied.
• Swap Fees: IFC Markets charges overnight swap fees for positions held past the daily rollover. These fees vary depending on the instrument and position size.
• Inactivity Fees: If an account is inactive for 6 months or more, IFC Markets charges an inactivity fee, which can be a disadvantage for traders who do not trade regularly.
• Withdrawal Fees: Depending on the method used, IFC Markets may charge withdrawal fees. Bank wire transfers, for example, typically incur higher fees than other methods such as credit/debit cards or e-wallets.

Traders should be aware of these fees and ensure they fully understand the cost structure before opening an account.

Trading Platforms

IFC Markets offers a variety of trading platforms to suit different trader preferences:

• MetaTrader 4 (MT4): MT4 is a popular choice for forex traders and offers a wide range of tools for technical analysis, automated trading (via Expert Advisors), and custom indicators.
• MetaTrader 5 (MT5): The successor to MT4, MT5 offers enhanced features, including additional timeframes, more order types, and improved charting tools. It’s suitable for traders looking for more advanced features.
• NetTradeX: IFC Markets’ proprietary platform, NetTradeX, offers unique features such as the ability to trade multi-asset portfolios, advanced order types, and access to proprietary trading tools.
• WebTrader: For traders who prefer not to download software, IFC Markets provides a WebTrader platform that allows users to trade directly through their web browser.
• Mobile Apps: IFC Markets offers mobile trading apps for both Android and iOS devices, allowing traders to manage their accounts and execute trades on the go.

Each platform is suitable for different types of traders, whether you prefer the traditional features of MT4, the advanced capabilities of MT5, or the unique features of the NetTradeX platform.

Customer Support

IFC Markets provides customer support through multiple channels to ensure a positive trading experience for all users:

• Live Chat: Available 24/7, live chat is a quick way to get in touch with support for general inquiries or issues.
• Email Support: Traders can reach IFC Markets' support team via email for more detailed queries.
• Phone Support: Phone support is available for urgent issues, with a dedicated helpline for international clients.
• Languages: IFC Markets offers multilingual customer support, making it accessible to clients from around the world.

Customer support is responsive, with many traders reporting quick resolution of issues.

Account Opening

The process of opening an account with IFC Markets is straightforward and involves the following steps:

1. Registration: Fill out the registration form on the IFC Markets website with your personal details, including name, email, phone number, and country of residence.
2. Account Verification: To comply with Know Your Customer (KYC) regulations, traders will need to submit identification documents such as a passport or driver’s license and proof of address.
3. Deposit Funds: Choose a payment method and deposit funds into your trading account. Available methods include credit/debit cards, bank wire transfers, and e-wallets.
4. Start Trading: Once your account is verified and funded, you can access the trading platforms and start trading.

IFC Markets also provides demo accounts for those who wish to practice trading without risking real money.

Deposits and Withdrawals

IFC Markets supports a variety of payment methods for deposits and withdrawals:

• Bank Wire Transfers
• Credit/Debit Cards (Visa, MasterCard)
• E-wallets (Skrill, Neteller, WebMoney)
• Cryptocurrency Payments (Bitcoin, Litecoin)

Deposits are typically processed instantly for e-wallets and credit cards, while bank wire transfers may take 1–3 business days. Withdrawals are processed through the same methods, with fees depending on the payment method used.

FAQ