IFX Brokers vs Velocity Trade (Side-by-Side Comparison 2024)

IFX Brokers vs Velocity Trade

trading forex online

Overall Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

General comparison

4/5

5/5

Regulation

5/5

3/5

Spreads and fees

4/5

2/5

Trading Platforms

4/5

3/5

Trading Apps

4/5

3/5

Analytical Tools

4/5

0/5

Educational Resources

5/5

0/5

Trust Score

93

93

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Trust score

93

93

Year Founded

2018

2007

Publically Traded

No

No

Licensed in South Africa

Yes

Yes

Assets Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

Not available

US Stock Trading

No

Yes

International Stock Trading

No

No

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Average Spread for EUR/USD

0.2 pips

3 pips

Commissions Charged

Yes

Yes

ECN Execution

Yes

No

Market Maker Execution

No

Yes

Deposit Options Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

No

Minimum Deposit

$100

$1

Trading Platforms Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

No

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

No

Analytical Tools Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Economic Calendar

Yes

No

Social Sentiment

Yes

No

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

No

Daily Market Commentary

Yes

No

Educational Resources Comparison

FEATURE

IFX Brokers

VELOCITY TRADE

Offers education

Yes

No

Webinars

Yes

No

Beginner training videos

Yes

No

Advanced training videos

Yes

No

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

VELOCITY TRADE

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. Velocity Trade

We spent many hours thoroughly examining the best-in-class Forex brokers for 2024. Here, we take a closer look at IFX Brokers vs. Velocity Trade.

 

Which offers better pricing – IFX Brokers or Velocity Trade?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. Velocity Trade provides an average spread of 3 pips, which is significantly wider than that offered by IFX Brokers, and by industry standards in general.

Both brokers charge commission. IFX Brokers charges a commission of USD6 per round turn while Velocity Trade does not provide any detailed information on their commission structure.

 

Which broker offers more security when trading Forex and CFDs?

The Financial Sector Conduct Authority (FSCA), the main financial regulator in South Africa, will be in charge of monitoring South African traders who register with IFX Brokers.

As a result, IFX Brokers offers its clients a completely regulated and secure environment.

Numerous international regulators, including the FCA, FMA, and the FSCA in South Africa, have extensive control over Velocity Trade.

According to regulatory provisions, Velocity Trade keeps customer funds apart from broker assets in segregated accounts to protect client funds and ensure they are only utilised for trading activity.

 

Which broker offers the superior trading platform?

IFX Brokers provides traders with access to the full MetaQuotes suite, consisting of MT4 and MT5. These are considered the most popular and diverse trading platforms in the industry, and offer social trading and a wealth of indicators and powerful charting capabilities.

Velocity Trade only provides access to MetaTrader 4. While MT4 is one of the most popular trading platforms in the industry, more experienced traders may find the selection of trading software limited.

 

Do these brokers both offer MetaTrader?

Yes, IFX Brokers provides access to both MT4 and MT5, while Velocity Trade only provides access to MT4.

How many Forex pairs can I expect from these brokers?

IFX Brokers provides access to 60 forex pairs, while Velocity Trade does not provide any information on the number of available Forex pairs.

 

Is it safe to trade with IFX Brokers?

Yes. The main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA). They are in charge of overseeing IFX Brokers, ensuring that traders have access to transparent markets and a fair Ombudsman in the event that they run into any problems.

 

Is it safe to trade with Velocity Trade?

Yes, The FCA, the FMA, and the FSCA in South Africa are just a few of the many foreign regulators that oversee the activities of Velocity Trade.

To safeguard client funds and guarantee that they are exclusively used for trading activity, Velocity Trade segregates client money from broker assets in accordance with regulatory requirements.

 

Who is IFX Brokers?

IFX Brokers is a South African Forex broker that is regulated by the FSCA. Regulations and restrictions have a substantial impact on any broker firm’s ability to continue operating. Businesses have legal safeguards in place to minimise losses and fraud in order to limit the possibility of becoming a victim.

Customers of IFX brokers have access to the MetaTrader 4 and MetaTrader 5 platforms, two of the most popular and widely used platforms in the industry, in order to speed up foreign exchange transactions.

These systems offer a wide variety of charting capabilities, a user-friendly user interface that is available in two languages and can handle various chart layouts, and efficient order management software to their users.

MetaTrader 4 and 5 may be utilised on iOS and Android smartphones in addition to PCs without the need for additional software.

The financial markets and trading choices available to IFX Brokers’ clients are extremely diverse. Spot metals, energy, commodities, contracts for difference, stock indices, foreign exchange, and virtual currencies are examples of products in this category.

In addition to 60 currency pairings, IFX brokers provide its clients with access to natural gas, oil, and precious metals like gold, silver, platinum, and palladium.

The minimum deposit for a basic account is $100 USD, and the smallest trading size is 0.01 lot. The US dollar, the euro, and the South African rand serve as the account’s base currency.

The company also offers a demo account for testing.

Customers of IFX brokers have access to a choice of practical means for funding and withdrawing funds from their accounts, including credit cards like Pay Quick, Visa, and MasterCard.

The best part is that there are no costs associated with either deposits or withdrawals. Customers from South Africa generally need two to five hours to finish the withdrawal process.

However, it’s common for customers outside of South Africa to have to wait four or five working days to complete the withdrawal procedure.

 

Who is Velocity Trade?

With offices in the UK, Canada, Australia, South Africa, and New Zealand, Velocity Trade is a broker that is well- and tightly regulated. It is authorised and regulated by the FCA, IIROC, ASIC, FSCA, and FMA.

Founded in 2007, Velocity Trade is a global brokerage firm that offers a full trading environment and a variety of trading opportunities through global companies based in Australia, Canada, South Africa, Oceania, the UK, and other places.

Velocity makes it possible to trade a wide range of financial instruments on a number of international marketplaces, which helps it maintain and continuously increase its worldwide exposure.

Given that Velocity Trade is overseen and approved by a number of organisations, some clients have access to larger leverage than others. Due to the hazards associated with leverage, regulatory bodies frequently impose restrictions on certain brokers.

The maximum leverage available to EU and European clients is 1:30, although Australian entities, for example, permit higher leverage of up to 1:500, South African and New Zealand entities, up to 1:200, and Canadian entities, up to 1:40.

There isn’t a lot of information on the Velocity Trade website about the many kinds of accounts that are offered, but it can be inferred from prior assessments of this broker that there is only one live trading account available, and it has a significant informational deficit.

The Standard Trading Account does not specify a minimum deposit amount, however it does have a minimum trading size of 0.01 lots and spreads that begin at 3 pips. The lowest margin need is 1.30%.

There is no information available on any other account details, such as the precise leverage or trade commissions.

MAM and/or PAMM Accounts are allegedly offered to institutional and professional clients, according to prior reviews, however there is no information to support this, making it impossible to validate or refute the claim.

One of the most well-liked, dependable, renowned, cutting-edge, and user-friendly trading platforms, namely MetaTrader 4, is supported by Velocity Trade for use in placing trades.

MetaTrader 4 offers a wide range of features that give users the greatest trading environment and a distinctive, all-encompassing trading experience.

Apart from the large spreads that start at 3 pip, there is incredibly little information available about the trading or non-trading fees Velocity Trade levies.

 

This would suggest that the fees are opaque, which puts Velocity Trade at a significant disadvantage in comparison to other brokers who have a detailed breakdown of their trading and non-trading expenses.

Before considering using the facilities given via which trades can be made, traders will need to thoroughly research and assess this broker because failing to do so could result in significant losses.

IFX Brokers vs Markets.com (Side-by-Side Comparison 2024)

IFX Brokers vs Markets.com

Overall Comparison

FEATURE

IFX Brokers

MARKETS.COM

General comparison

4/5

4/5

Regulation

5/5

5/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

4/5

Trading Apps

4/5

4/5

Analytical Tools

4/5

4/5

Educational Resources

5/5

5/5

Trust Score

93

93

Best in class

x

Regulation Comparison

FEATURE

IFX Brokers

MARKETS.COM

Trust score

93

93

Year Founded

2018

1999

Publically Traded

No

No

Licensed in South Africa

Yes

Yes

Assets Comparison

FEATURE

IFX Brokers

MARKETS.COM

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

57

US Stock Trading

No

No

International Stock Trading

No

No

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

MARKETS.COM

Average Spread for EUR/USD

0.2 pips

1.9 pips

Commissions Charged

Yes

Yes

ECN Execution

Yes

Yes

Market Maker Execution

No

Yes

Deposit Options Comparison

FEATURE

IFX Brokers

MARKETS.COM

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

Yes

Minimum Deposit

$100

$100

Trading Platforms Comparison

FEATURE

IFX Brokers

MARKETS.COM

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

Yes

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

Yes

Analytical Tools Comparison

FEATURE

IFX Brokers

MARKETS.COM

Economic Calendar

Yes

Yes

Social Sentiment

Yes

Yes

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

Yes

Educational Resources Comparison

FEATURE

IFX Brokers

MARKETS.COM

Offers education

Yes

Yes

Webinars

Yes

Yes

Beginner training videos

Yes

Yes

Advanced training videos

Yes

Yes

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

MARKETS.COM

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. Markets.com

We spent many hours thoroughly examining the best-in-class Forex brokers for 2024. Here, we take a closer look at IFX Brokers vs. Markets.com.

 

Which offers better pricing – IFX Brokers or Markets.com?

IFX Brokers offers a very tight spread which averages at 0.2 pips for the EUR/USD currency pair. Markets.com has a significantly higher spread of 1.9 pips for the same currency pair.

While IFX Brokers charges commission, Markets.com does not – although their pricing is worked into the spread, as can be seen from the above.

 

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a fully licensed and regulated Forex broker that is based in South Africa. As such, IFX Brokers is overseen by the Financial Sector Conduct Authority (FSCA) of South Africa, which is the primary regulator of the financial markets in the country.

South African customers of Markets.com will trade through its BVI FSC-regulated subsidiary, a significantly weaker regulator than the Australian Securities and Investments Commission (ASIC) or the Financial Conduct Authority (FCA), which regulate the broker internationally

 

Which broker offers the superior trading platform?

Both IFX Brokers and Markets.com provide access to MetaTrader 4 and MetaTrader 5, which are the most renowned trading platforms in the industry with a wealth of trading tools, indicators and advanced features. Markets.com also provides access to a proprietary trading platform.

 

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and Markets.com provide access to MT4 and MT5.

 

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while Markets.com provides access to slightly fewer at 57 currency pairs.

 

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated forex broker that operates out of South Africa and holds a full licence from the Financial Sector Conduct Authority (FSCA). The Financial Sector Conduct Authority is in charge of directing the nation’s myriad financial institutions, which are located all over the country.

The Financial Sector Conduct Authority (FSCA) was established with the goal of protecting investors by promoting fair treatment and educating people on various financial matters, as well as the goal of promoting and maintaining the efficiency and integrity of financial markets.

These goals were established with the intention of educating people on various financial matters.

 

Is it safe to trade with Markets.com?

While Markets.com is well-regulated internationally, South African customers of Markets.com will trade through its BVI FSC-regulated subsidiary, a significantly weaker regulator than the Australian Securities and Investments Commission (ASIC) or the Financial Conduct Authority (FCA).

 

Who is IFX Brokers?

IFX Brokers is a South African foreign exchange broker that is highly regulated and serves a large number of customers. Customers of IFX brokers have access to trading platforms like as MetaTrader 4 and MetaTrader 5, which are among the most widely used and widely successful available anywhere in the globe.

These platforms have superior charting features, cutting-edge order management programmes, and a user interface that is available in both English and Spanish and allows charts to be laid out in a variety of different ways.

Both MetaTrader 4 and 5 can now be utilised on mobile devices running iOS and Android, without the need to install any additional software.

Customers of IFX Brokers have access to a diverse range of financial instruments on which they can trade. Currency, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies are some examples of these financial instruments.

Trading in precious metals (gold, silver, platinum, and palladium), natural gas, and oil is also available to clients of IFX brokers, in addition to trading in sixty various currency pairings.

The smallest transaction amount available is 0.01 lot, but the minimum deposit required for a basic account is one hundred dollars in US currency. The account base currencies are, from highest to lowest value, the South African Rand, the US Dollar, and the Euro.

You also have the option of using something called a “practise account” rather than an actual one.

Customers of IFX brokers have a variety of alternatives available to them, including the simple use of credit cards such as Pay Quick, Visa, or MasterCard, to instantly deposit and withdraw funds from their accounts.