IFX Brokers vs XM

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs XM.

Which offers better pricing – IFX Brokers or XM?

IFX Brokers offers a tighter spread of 0.2 pips on the EUR/USD while XM offers a wider spread of 1.6 pips for the same currency pair.

Both brokers charge commission, although IFX Brokers only charges commissions on its VIP Account, while XM charges a commission for every position opened on the Zero Account.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African broker which is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, which is the leading financial regulator in the country and ensures that brokers operate with a high degree of transparency and legality.

While XM is well-regulated in several international jurisdictions, the broker does not currently hold an FSCA license to operate in South Africa.

Which broker offers the superior trading platform?

Both IFX Brokers and XM provide access to the full MetaQuotes suite of trading platforms, consisting of MT4 and MT5. As such, traders can enjoy access to one of the best-in-class forms of trading software which is suited to both beginner and advanced traders.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and XM provide access to MT4 and MT5, comprising the full suite of trading platforms from MetaQuotes.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers 60 Forex currency pairs, while XM slightly fewer currency pairs at 57, although both brokers offer the same range of majors to traders.

Is it safe to trade with IFX Brokers?

Because the Financial Sector Conduct Authority (FSCA), the most powerful regulatory agency in South Africa, has granted IFX Brokers a full license to operate as a foreign exchange broker in South Africa, it is perfectly safe for South African traders to open accounts with IFX Brokers.

Is it safe to trade with XM?

XM is subject to the oversight of the Financial Conduct Authority (FCA) in the United Kingdom as well as the Australian Securities and Investments Commission (ASIC), but not the Financial Sector Conduct Authority (FSCA) in South Africa.

XM’s South African customers will trade through a business that is regulated by the Belize International Financial Services Commission (IFSC), which is usually regarded as a weak regulator.

Traders are not eligible for compensation from XM in the event that the company goes out of business.

Although it is not required by the IFSC, XM protects traders by keeping its client funds and company funds in separate accounts at top-tier banks. Additionally, XM offers traders automatic negative balance protection, which ensures that traders cannot incur losses that are greater than the amount that they initially deposited.

Who is IFX Brokers?

The IFX Brokers company was founded in South Africa and offers online trading services. The core ideals that guide the corporation are dedication, openness, and trust.

Through its state-of-the-art MetaTrader 4 trading platform, the company provides private and institutional investors with a convenient one-stop-shop for trading and investing in a wide range of financial instruments online.

Foreign exchange, indexes, commodities, energy metals, and futures are all examples of such goods. Trading under the name “IFX Brokers,” IFX Brokers Holdings (Pty) Ltd is a South African firm authorized to do business in the country by the Financial Sector Conduct Authority. In 1999, IFX Brokers opened its doors to the public.

Futures, commodities, indices, energy, and metals are just some of the many financial assets that may be traded thanks to the IFX brokers.

When opening an IFX account, you’ll have the option of using any of the four following base currencies:

There are four different currencies in play here: the South African Rand (ZAR), the British Pound (GBP), the US Dollar (USD), and the Euro (EUR).

The key point to keep in mind here is that the sort of account you open will determine the base currency you will use.

In contrast to the raw spread account, which employs only the ZAR and the USD as base currencies, the standard account also uses the British Pound (GBP), the Euro, and the United States Dollar.

A total of 85 different indicators are included in IFX’s complete MT4 upgrade package, making it one of the most comprehensive options out there.

Despite the fact that IFX’s trading platform does not support automated trading, this shows the exchange’s commitment to this market segment. Though IFX’s MT4 trading platform does not include the MAM/PAMM module, it does include a copy-trading feature.

The software is available as a desktop application for use on PCs and Macs, as well as a mobile app for use on smartphones and tablets running Google’s Android or Apple’s iOS.

Not only does IFX Brokers provide access to True ECN, but they also have competitive spreads on the market. To price into the broker’s ECN, approximately 50 banks and dark pool liquidity sources are available at all times. It aids in keeping spreads tight and liquidity strong throughout the trading day.

A wealth of educational materials are offered from the IFX Brokers as part of their IFX Academy program.

To help its users learn more about the trading world, IFX maintains an academy where they may access materials geared toward different skill levels.

All course materials and assignments will be sent electronically, and you’ll be able to work through them at your own leisure.

IFX’s customer service staff is available around the clock, five days a week. An additional component of the IFX website is a section labeled “Contact Us,” where visitors can enter information such as their phone numbers and physical mailing addresses. Social networking sites like Facebook, Instagram, and Twitter also facilitate interaction with them.

Who is XM?

There are lower costs than average, top-notch resources for learning, and an easy-to-use trading platform at XM.

Trading with XM is an excellent alternative for most South African traders because of their vast customer base and solid reputation. It also provides traders with a wide variety of helpful resources, such as bonuses and incentives.

The fact that XM is not controlled by the South African FSCA is the biggest problem. Instead, traders from South Africa will deal with XM’s Belizean subsidiary, which is subject to lax regulation.

The XM App, MetaTrader 4, and MetaTrader 5 are the three mobile trading platforms available, making XM the most flexible broker in this regard. There is full support for both iOS and Android.

The MT4 and MT5 trading apps offered by XM have the same features as their desktop and web-based counterparts. Traders have access to the same instruments and charts as those using MT5 at XM (however share CFD trading is MT5-exclusive).

All order kinds in the trading system are also accessible. All that’s changed between the mobile versions of MT4 and MT5 is the quantity of indicators available.

When compared to competing brokers, XM’s in-house curation of research data and its technical analysis tools come out on top. In addition to being compatible with MT4 and MT5, it also features a number of its own trading tools.

Markets Overview, News, XM Research, Trade Ideas, Technical Summaries, Economic Calendar, XM TV, and Podcasts are all part of XM’s market analysis division.

IFX Brokers vs Tickmill

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs Tickmill.

Which offers better pricing – IFX Brokers or Tickmill?

Both IFX Brokers and Tickmill offer the same spread on the EUR/USD currency pair, averaging at 0.2 pips, and both brokers charge commission, though Tickmill’s commission structure is slightly lower than that of IFX Brokers.

Which broker offers more security when trading Forex and CFDs?

Both Tickmill and IFX Brokers are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, offering a high level of security when trading. Tickmill’s international entity is also regulated by the Financial Conduct Authority (FCA) in the UK.

As such, traders can expect the same level of security when trading with both these brokers, and can take advantage of segregated deposit accounts and a high degree of operational transparency.

Which broker offers the superior trading platform?

Both IFX Brokers and Tickmill provide access to the full MetaQuotes suite of trading platforms, consisting of MT4 and MT5. As such, traders can enjoy access to one of the best-in-class forms of trading software which is suited to both beginner and advanced traders.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and Tickmill provide access to MT4 and MT5, comprising the full suite of trading platforms from MetaQuotes.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers 60 Forex currency pairs, while Tickmill offers slightly more currency pairs at 62 being made available to traders. Both brokers offer the same selection of majors, as well as minors and exotics options.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a South African Forex broker that is fully licensed by the Financial Sector Conduct Authority (FSCA), which is the leading regulatory body in South Africa, making it completely safe for South African traders to sign up with IFX Brokers.

Is it safe to trade with Tickmill?

Tickmill is regulated by a number of top-tier authorities, such as the Financial Conduct Authority (FCA) of the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC), but South Africans will be onboarded through Tickmill’s Seychelles-based entity, which provides a lower level of protection.

South African traders will not receive the benefits of local regulation, and their money will not be kept separate at South African banks as a result of this development, which is a regrettable turn of events for South African traders.

Even though the lack of FSCA monitoring might turn off some South African traders, we still think Tickmill is a reliable broker that you should feel comfortable trading with. It has obtained licenses from a variety of other authorities all over the world.

Who is IFX Brokers?

IFX Brokers is a South African internet trading firm that was established in that country. Commitment, transparency, and trust are the company’s guiding principles, and they serve as the organization’s basic values.

The company offers private and institutional traders a one-stop trading and investing experience by providing customers with the cutting-edge MetaTrader 4 trading platform for online trading of various financial products.

These products include forex, indices, commodities, energy metals, and futures, amongst others. IFX Brokers is a trading name of the company IFX Brokers Holdings (Pty) Ltd, which is a South African-based corporation registered by the local Financial Sector Conduct Authority. IFX Brokers was founded in 1999.

The IFX brokers make it possible for traders to engage in transactions with a diverse selection of financial assets, including futures, commodities, indexes, energy, and metals.

When you sign up for an account with IFX, you can choose from one of the following four base currencies to use:

The currencies involved are the ZAR, GBP, USD, and EUR.

The most important thing to remember in this scenario is that the base currencies you use depend on the type of account you decide to open.

For instance, the South African Rand (ZAR), the British Pound (GBP), the Euro, and the United States Dollar serve as base currencies for the standard account, whereas the raw spread account uses only the ZAR and the USD.

IFX provides one of the most comprehensive MT4 upgrade packages available, which includes 85 different indicators already installed.

This indicates IFX’s dedication to automated traders, despite the fact that IFX’s own trading platform does not enable this functionality. The MAM/PAMM module is not offered on the MT4 trading platform at IFX; nonetheless, there is a copy-trading option available on the platform.

The software can be downloaded as a desktop application for use on computers running Windows or Mac operating systems, as well as a mobile application that can be used on devices running Android or iOS.

In addition to offering excellent market spreads, IFX Brokers also offers connectivity to True ECN. At any given time, over 50 banks and dark pool liquidity sources price into the broker’s ECN. This helps to maintain low spreads and a high level of liquidity over the course of the market session.

As part of their IFX Academy program, the IFX Brokers make available a significant amount of pedagogical resources.

Within the academy, IFX provides instructional resources that are accessible to users at all levels of expertise, from novice to intermediate to advanced, in order to educate users about the world of trading.

You will receive all of the course materials and assignments in an electronic format, and you will have the freedom to determine the pace at which you finish each module.

The customer care department at IFX is open twenty-four hours a day, five days a week. In addition, the IFX website features a contact section that provides users with the option to list their phone numbers or registered addresses. Additionally, you are able to communicate with them through social media platforms such as Facebook, Instagram, and Twitter.

Who is Tickmill?

Tickmill is a reliable broker that supports both MT4 and MT5, and it also offers two trading accounts that are among the industry’s lowest commission rates. This makes it an ideal trading environment for serious novices as well as more experienced traders.

Tickmill is regulated by the South African Financial Sector Conduct Authority (FSCA). Despite this, South African traders will be onboarded through Tickmill’s Seychelles-based firm, which provides a lower level of security.

Tickmill offers two different commission-based accounts, both of which provide low spreads (0.0 pips on the EUR/USD) and some of the industry’s lowest commission rates.

There is also the option of opening a basic account, which does not charge a commission and has spreads on the EUR/USD that begin at 1.6 pips. Education and research of the market are both very beneficial, and seasoned traders will appreciate the extensive selection of currency pairs available.

Tickmill is a fantastic choice of broker for Metatrader users who are interested in switching brokers because it offers two accounts with low commission fees, despite the fact that its regular account is more expensive than those offered by other brokers offering comparable services.

Tickmill provides a remarkable assortment of reading and viewing content for educational purposes. Even though the vast majority of it is geared toward newcomers, there are certain parts that will be interesting to more seasoned traders. Traders can also take advantage of the company’s no-cost demo account to hone their skills on the company’s trading platforms before registering for a genuine account.

Tickmill provides its users with a variety of instructional tools, including as e-books that can be downloaded for free, video tutorials, infographics, and a lexicon of Forex terms. In addition to that, it routinely conducts webinars and seminars.