IFX Brokers vs. Scope Markets SA (Side-by-Side Comparison)

IFX Brokers vs. Scope Markets SA

Overall Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

General comparison

4/5

4/5

Regulation

5/5

5/5

Spreads and fees

4/5

3/5

Trading Platforms

4/5

4/5

Trading Apps

4/5

4/5

Analytical Tools

4/5

3/5

Educational Resources

5/5

4/5

Trust Score

93

93

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

Trust score

93

93

Year Founded

2018

1997

Publically Traded

No

No

Licensed in South Africa

Yes

Yes

Assets Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

70+

US Stock Trading

No

Yes

International Stock Trading

No

Yes

Cryptocurrency CFDs

Yes

No

Fees Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

Average Spread for EUR/USD

0.2 pips

1.0 pips

Commissions Charged

Yes

No

ECN Execution

Yes

Yes

Market Maker Execution

No

Yes

Deposit Options Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

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

SCOPE MARKETS SA

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

No

Analytical Tools Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

Economic Calendar

Yes

Yes

Social Sentiment

Yes

No

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

No

Educational Resources Comparison

FEATURE

IFX Brokers

SCOPE MARKETS SA

Offers education

Yes

Yes

Webinars

Yes

No

Beginner training videos

Yes

Yes

Advanced training videos

Yes

No

Glossary

No

Yes

Majors Offered

FEATURE

IFX Brokers

SCOPE MARKETS SA

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. Scope Markets SA

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

 

Which offers better pricing – IFX Brokers or Scope Markets SA?

IFX Brokers offers an average spread of 0.2 pips for the EUR/USD currency pairs, and charges competitive commissions depending on the instrument traded. While Scope Markets is a hybrid STP and ECN broker that does not charge commissions, spreads are somewhat higher at 1.0 pips for the same currency pairs.

 

Which broker offers more security when trading Forex and CFDs?

Both IFX Brokers and Scope Markets SA are regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, which is the main regulator of the financial markets in the country. As such, both brokers provide traders with a high degree of deposit security in a thoroughly regulated and transparent environment.

 

Which broker offers the superior trading platform?

Both IFX Brokers and Scope Markets provide access to the full range of platforms from MetaQuotes, consisting of MetaTrader 4 and MetaTrader 5. These are considered the leading trading platforms amongst Forex traders today, which are preferred for their strong selection of trading tools, analytical features and ultra-fast trade executions.

 

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and Scope Markets SA provide access to both MetaTrader 4 and MetaTrader 5.

 

How many Forex pairs can I expect from these brokers?

IFX Brokers provides access to a wide range of 60 currency pairs, while Scope Markets SA provides access to more than 70 currency pairs.

 

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated Forex broker based in South Africa which is fully licensed by the FSCA. As such, the Financial Sector Conduct Authority (FSCA) is in charge of regulating the country’s various financial institutions.

The Financial Sector Conduct Authority’s (FSCA) mission is to improve and maintain the efficiency and integrity of financial markets, as well as to safeguard investors by fostering equitable treatment and delivering education on a variety of topics pertaining to finance.

 

Is it safe to trade with Scope Markets SA?

Yes, Scope Markets SA is regulated by the FSCA, providing South African traders with a high degree of transparency and deposit security.

Furthermore, Scope Markets is also regulated by the FSC. While this is a decent regulatory agency, it is not a tier-1 organisation, although South African traders will be onboarded via the FSCA-regulated entity.

 

 

Who is IFX Brokers?

CFDs on more than 150 underlying assets, including major and minor currency pairings and the top five cryptocurrencies, are available through IFX Brokers (including Bitcoin and Ethereum).

The South African Financial Sector Conduct Authority has authorized IFX Brokers as a regulated Crypto and Forex CFD broker (FSCA). They provide their day traders and investors with the popular MT4 or MT5 trading platforms.

Apps for trading are available for both desktop computers and mobile devices. In comparison to the 500:1 leverage they have on normal Forex trading, the CFDs on cryptocurrencies they offer have a margin rate of only 10:1.

IFX Brokers supports the following currencies in your trading account for your convenience: GBP, EUR, ZAR, and USD. You can fund your account using a credit card, ETFPay, or Ozow.

Customers can pay with wire transfers, credit cards, debit cards, and other payment options such as PayFast, iPAY, and PayU.

The minimum initial deposit may range from $100 to $250 depending on the type of account you have and the manner of payment you choose. All deposit service fees are paid for by the broker.

When withdrawing funds, customers must use the same payment method that was used to fund their trading account.

Credit card deposits have a maximum withdrawal amount of the initial deposit amount. If you need to make a withdrawal that is greater than that amount, you must use a different withdrawal method.

 

If you withdraw money from your account within the first sixty days after funding it with a credit card, you can only use the same credit card that you used to make the deposit.

 

Who is Scope Markets SA?

Scope Markets is a global online trading broker that provides leveraged and investing products in forex, commodities, stocks, and indices. The company offers MetaTrader 5 access as well as a variety of account types, payment methods, and educational materials that should satisfy the demands of most traders from Nigeria and Kenya to Mexico and beyond.

Founded in 2014 as a Kenyan broker, the firm has since extended into global markets, with one foreign and one Kenyan website now hosting. Kevin Ng’ang’a, the company’s CEO, is also a shareholder in EGM Securities. To cover all of its jurisdictions, the firm currently has three entities: Belize, Cyprus, and Kenya.

The MetaTrader 5 (MT5) trading platform is accessible as a desktop client or as a web-based application. MT5 is an all-in-one platform that brings together numerous asset types, including forex, equities, and futures.

MT5 is widely used because it provides clients with a smooth, fluid, and intuitive platform that is simple to use while still providing extensive charting capabilities, quick order trade execution, and access to a variety of technical indicators and timeframes.

Similar to its predecessor, MT4, automated trading is also supported through the use of EAs. The MT5 platform can be downloaded from the Scope Markets website. The broker also provides access to MT4.

The desktop application of MT5 has 21 periods, real-time symbol quotations, 38 technical indicators, four pending orders, and an economic calendar that provides macroeconomic news from various nations that may affect financial instrument prices.

Clients can also use the MQL5 language to develop new indicators and algorithms, as well as analyze sophisticated charts and graphical objects.

With leveraged derivatives and spot investment products, Scope Markets provides both short-term and long-term trading strategies. Clients can trade 44 currency pairs as well as 19 CFDs on commodities, equities, and indices. In addition, the broker provides 200 ETFs and stock investment products.

Clients of Scope Markets can open either a CFD or an Investment account. The first gives you access to leveraged instruments for shorter-term trading strategies, whereas the second allows you to trade equity shares. CFD accounts are divided into three categories, with fixed, variable, and raw spreads.

Each retail CFD account has a 50% stop-out level, can be opened as an Islam-friendly account, and has a maximum leverage rate of 1:30, while clients can choose a professional account for leverage rates up to 1:100 if they qualify as such.

The Scope Markets website includes a blog area that covers financial market movements as well as analyses of various instruments and sectors.

 

Scope Markets is a multiregulated forex and CFD broker that operates globally. Originating in Kenya, the firm now holds licenses with the CMA, FSCA, and CySEC, and provides retail and professional clients with leveraged derivatives and spot equities investment products.

Accounts include free MT5 access, competitive trading conditions, and multilingual, round-the-clock customer service. On the broker’s website, there is a good selection of instructional content, as well as a blog and a YouTube channel.

Customers, however, cannot open a demo account to test Scope Markets’ services, and minimum deposits are not readily available.

IFX Brokers vs. Pepperstone (Side-by-Side Comparison 2022)

IFX Brokers vs. Pepperstone

Overall Comparison

FEATURE

IFX Brokers

PEPPERSTONE

General comparison

4/5

4/5

Regulation

5/5

4/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

5/5

Trading Apps

4/5

4/5

Analytical Tools

4/5

4/5

Educational Resources

5/5

5/5

Trust Score

93

90

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Trust score

93

90

Year Founded

2018

2010

Publically Traded

No

No

Licensed in South Africa

Yes

No

Assets Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

60+

US Stock Trading

No

Yes

International Stock Trading

No

Yes

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Average Spread for EUR/USD

0.2 pips

0.9 pips

Commissions Charged

Yes

Yes

ECN Execution

Yes

No

Market Maker Execution

No

Yes

Deposit Options Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

Yes

Skrill

Yes

Yes

Minimum Deposit

$100

$0

Trading Platforms Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

Yes

cTrader

No

Yes

DupliTrade

No

Yes

ZuluTrade

No

No

Proprietary Platform

No

No

Analytical Tools Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Economic Calendar

Yes

Yes

Social Sentiment

Yes

Yes

Trading Central

No

No

AutoChartist

No

Yes

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

Yes

Educational Resources Comparison

FEATURE

IFX Brokers

PEPPERSTONE

Offers education

Yes

Yes

Webinars

Yes

Yes

Beginner training videos

Yes

Yes

Advanced training videos

Yes

No

Glossary

No

Yes

Majors Offered

FEATURE

IFX Brokers

PEPPERSTONE

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. Pepperstone

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

 

Which offers better pricing – IFX Brokers or Pepperstone?

IFX Brokers and Pepperstone both charge very competitive spreads. IFX Brokers has an average spread of 0.2 pips for the EUR/USD currency pair, while Pepperstone has an average spread of 0.9 pips for the same currency pair.

Both brokers charge commissions which are very competitive and vary depending on the instrument being traded.

 

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.

Traders from South Africa can feel at ease with Pepperstone as their broker. Pepperstone has a history of responsible conduct and robust international regulation, however it is not controlled by the South African FSCA.

Pepperstone’s Kenyan subsidiary is responsible for onboarding customers from South Africa; it is supervised by the CMA (CMA).

 

Which broker offers the superior trading platform?

Both IFX Brokers and Pepperstone provide access to both MetaTrader 4 and MetaTrader 5, which are by far the most popular trading platforms in the industry. Copy trading is available from both brokers, while Pepperstone also provides access to the cTrader platform.

 

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and Pepperstone provide access to the full MetaTrader suite from MetaQuotes.

 

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while Pepperstone provides slightly more than 60 currency pairs. Both brokers provide the same selection of major currency pairs.

 

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a South African-based regulated Forex broker that is fully licensed by the FSCA. The Financial Sector Conduct Authority (FSCA) is in charge of overseeing the numerous financial institutions in the country.

The purpose of the Financial Sector Conduct Authority (FSCA) is to develop and maintain the efficiency and integrity of financial markets, as well as to protect investors by supporting equitable treatment and providing education on a number of finance-related topics.

 

Is it safe to trade with Pepperstone?

Yes, 6raders from South Africa can feel sage with Pepperstone as their broker. Pepperstone has an established reputation of responsible conduct and robust international regulation, however it is not controlled by the South African FSCA.

Pepperstone’s Kenyan subsidiary is responsible for onboarding customers from South Africa; it is supervised by the CMA (CMA).

 

Who is IFX Brokers?

The South African-based forex trading firm IFX Brokers gets its name from “IFX Brokers Holding Limited.” The regional FSCA has jurisdiction over the business.

The laws and limitations that are put in place have a significant impact on the stability of any broker firm. These rules and laws were established to safeguard the company against financial loss of any type and to reduce the possibility of fraud.

Customers of IFX brokers have access to the MetaTrader 4 and MetaTrader 5 platform, which are among the most popular and successful currency trading platforms in the world.

These platforms include improved charting functionality, cutting-edge order management programs, and a bilingual user interface that enables various chart layouts.

Additionally, you won’t need to bother about installing any extra software in order to use MetaTrader 4 or 5 on your iOS and Android devices in addition to your PC.

Customers of IFX Brokers have the option to trade on a range of various trading instruments. These financial products include, among others, currencies, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies.

Additionally, 60 different currency pairings, precious metals (gold, silver, platinum, and palladium), natural gas, and oil are all accessible to clients of IFX brokers.

The smallest possible deal size is 0.01 lot, but a standard account requires a minimum deposit of $100 in US dollars. The account basis currencies are, in order, South African Rand, Dollars, and Euros.

The broke also gives you the choice of using a practice account.

Customers of IFX brokers can easily fund their accounts with deposits and withdrawals by using a number of options, such as Pay Quick, Visa, and MasterCard credit cards.

The nicest part of the whole transaction is without a doubt the fact that there are no costs associated with deposits or withdrawals. For South African consumers, the withdrawal procedure can be finished in as little as two to five hours.

Contrarily, the withdrawal procedure for consumers outside of the South takes four to five working days to complete.

 

Who is Pepperstone?

Pepperstone, which was founded in Australia in 2010, has now gained acclaim around the world for its competitive trading fees and wide selection of trading software. Pepperstone’s Standard Account features some of the industry’s tightest spreads, with an average of 0.77 pips (EUR/USD).

The Razor Account is ideal for traditional ECN traders due to its low commission rates and average spread of 0.17 pips on the EUR/USD currency pair. The minimum opening balance for either account is $0.

Pepperstone has a variety of trading platforms for advanced traders, such as MT4, MT5, and cTrader, all of which are fully compatible with the popular trading analysis and visualization platform TradingView.

You can access all of these from your computer or mobile device. Even if Pepperstone’s education area isn’t the most comprehensive we’ve seen, it’s still a decent place to start for novice traders thanks to its professionalism and organization.

Pepperstone has earned a stellar reputation for its fair treatment of customers and holds licenses from numerous authoritative regulatory bodies across the globe. Traders’ losses are limited to their initial deposit, as the system offers negative balance protection to all users.

Pepperstone’s selection of instruments is comparable to that of competing brokers, albeit their Forex pair selection is more extensive.

Since South Africans can now open accounts with Pepperstone’s CMA-regulated Kenyan subsidiary, the broker’s leverage on its key Forex pairs has raised to 400:1 from 30:1 under ASIC regulation, however cryptocurrency trading remains unavailable.

There is no cost to use any of the available platforms, and you can use any of them by downloading them to your desktop computer or laptop. MetaTrader products are worth considering for traders who value a large number of available EAs above a modern user interface.

 cTrader is favoured by new traders because it has fewer prerequisites, a sleeker user interface, and access to more complex order types than its competitors. Furthermore, Pepperstone’s cTrader is fully compatible with TradingView, a powerful charting platform.

Three of Pepperstone’s trading platforms include access to Autochartist, one of many free trading tools offered by the broker. These platforms are widely regarded as some of the best in the business.

When compared to other NDD brokers, Pepperstone stands out due to its high-speed trade execution and low-cost trading environment for novices.

Pepperstone has acquired a stellar reputation by providing its customers with cutting-edge trading tools, such as access to all three major third-party trading platforms and significantly lower spreads than those offered by most other brokers.

Traders in South Africa searching for a low-cost and trustworthy NDD broker with comprehensive educational resources, thorough market analysis, and a solid suite of trading tools can consider Pepperstone.