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About company:
IFC Markets is a leading brokerage company offering a wide range of trading instruments: currency pairs, CFDs on indices, commodities and precious metals, as well as unique personalized instruments on two trading platforms.
history of the company
This is the trade name of IFCMARKETS. CORP., Registered in the British Virgin Islands (BVI) and licensed by the Financial Services Commission (FSC).
The broker is part of the IFCM Group, which has been developing and implementing new effective projects in the field of financial technologies for over 10 years. The group also includes software developers NetTradeX Corp and IFCM Cyprus Ltd. (formerly Infin Markets Limited), licensed by the Cyprus Securities and Exchange Commission (CySEC).
Fund security
As we already mentioned, IFC Markets Ltd. regulated by the BVI Financial Services Commission. He holds a Category 2 business license, which means he can enter into investment deals. To obtain such a license, companies go through rigorous checks by FSC.
Despite offering regulated status, FSC allows companies to be based abroad. In addition, BVI-based financial service providers do not face most of the requirements of brokers in Cyprus or the UK.
We generally advise traders to choose between UK, Swiss or other well-regulated brokers where your funds will be protected. However, if you are looking for an offshore broker for some reason, then IFC Markets is a reliable choice: it is part of an international group with 10 years of experience and fairly good trading conditions, as well as innovative technologies and some unique features.
Trading conditions
IFC Markets offers its clients two main types of accounts on two different trading platforms. Both account types offer the same tight fixed spreads, instant execution and no commission trading.
Beginner accounts offer not only micro lots, but the ability to trade 100 units of a given currency.
In addition, swap-free (Islamic) accounts are available for all account types upon request from clients who do not wish to earn interest for religious reasons.
VIP status is automatically assigned to accounts with a trading deposit of $ 50,000 or more. Holders of such accounts can take advantage of flexible trading conditions, guidance and assistance from a personal account manager, as well as an analyst in creating an investment portfolio using the GeWorko method.
Minimum deposit
The minimum initial deposit for IFC Markets clients is only $ 1, which is a symbolically low initial amount. However, a minimum deposit of $ 1000 is required to register with a standard account.
Spreads and commissions
IFC Markets offers fixed spreads of 1.8 pips on EUR / USD, which is quite narrow as in general, fixed spreads are higher than variable spreads. Like most fixed spread brokers, this one does not charge a commission, but only gets rewarded through the spread.
Leverage
The maximum leverage provided by this broker is high and goes up to 1: 400. However, many other offshore brokers offer similar or higher leverage levels.
We would like to remind you that working with a higher level of leverage carries more risks.
Trading platforms
IFC Markets offers its clients two trading platforms to choose from: MetaTrader 4 (MT4) and its own NetTradeX. He also started offering trading on MetaTrader 5 with floating spreads (in demo mode).
NetTradeX is a trading and analytical terminal launched back in 2006. The platform offers a wide selection of currency pairs, indices, exchange and commodity contracts for difference (CFDs) for trading. It is available for Windows desktop devices, as well as iOS, Android and Windows Mobile devices.
In addition to standard trading instruments, this platform offers the unique opportunity to trade personal composite instruments (PCI). You can create PCI yourself using the GeWorko method, which is based on the Forex concept, according to which one financial asset is quoted by another. PCI includes new cross rates, correlations between different assets, currency indices, stock portfolios, etc.
In addition to NetTradeX, IFC Markets also supports MetaTrader 4 (MT4), the world's most widely used Forex trading platform. It comes in desktop, web and mobile versions. MT4 is preferred by most experienced traders because it comes with an advanced charting package, a range of technical indicators, Expert Advisors (EA) and an extensive back testing environment. Moreover, the service of trading signals is available on MT4 only with this broker.
In June 2017, the broker also began trading on MT4's successor, MetaTrader 5.
Significant services
We would also like to point out that this broker offers up to 7% per annum on free margin.
Support service
IFC Markets provides highly qualified customer support in 18 languages. Traders can contact IFC Markets via email, chat, callback, Skype, phone, WhatsApp, Telegram. The support service is available 24/5.
The FAQ section is divided into four groups and all questions not listed there can be directed to the support representatives using any of the above methods of contact.
Ways of payment
IFC Markets clients can choose from a wide range of payment methods - bank transfer, bank cards, Skrill, OKPAY, Webmoney, Netteller, Qiwi, China UnionPay and Western Union.
Accepted currencies: USD, EUR and JPY.
Criticism of traders
Traders complain about difficulties in working with the support team.
Pros:
selection of trading platforms; tight fixed spreads; trade without commission; the ability to create your own trading instruments; annual interest on free margin; low min. initial deposit, high leverage.
Minuses:
Market Maker model.
IFC is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
IFC profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. IFC received a score of 1 of 5 on our resource.