Client Funding and Withdrawal Policy

  1. Introduction

    1. iFX Brokers Holdings (Pty) Ltd (referred to as “iFX Brokers, the “Company”, “us”, “we”, “our”, “ours”, “ourselves” as appropriate) is a trading name of iFX Brokers Holdings (Pty) Ltd (Registration No. 2017/027249/07). iFX Brokers Holdings (Pty) Ltd is an Issuer of CFDs and acts as counterparty to client transactions. Our distribution and market conduct is regulated by the Financial Sector Conduct Authority (Authorized Financial Services Provider number 48021). The issuance of CFD’s is regulated by The Financial Markets Act, 2012. Our registered address is 79 Da Gama Road, Jeffreys Bay, 6330.

  2. Scope Policy

    1. iFX Brokers Holdings (Pty) Ltd. provides you with this Client Account Funding and Withdrawal Policy to outline the procedure and requirements related to the deposit and withdrawal of funds from client trading accounts. iFX Brokers Holdings (Pty) Ltd reserves the right to modify this policy as deemed fit at any time. The latest Client Account Funding and Withdrawal Policy will always be available on our website.

  3. Account Funding Option

    1. iFX Brokers Holdings (Pty) Ltd offer flexible account funding options. We do not guarantee that all the transfer methods are available to be used in your country.

    2. Please note that payments to and from international banks may incur costs by either or both parties, however. these costs covered by us. We are unable to accept third party payments. All payments must be affected through the bank account linked to your trading account.

      FUND WITH DEPOSIT FEES ACCEPTED CURRENCIES APPROXIMATE PROCESSING TIME
      Visa Mastercard Nil ZAR Instant
      Payfast Nil ZAR Instant
      OZOW Nil ZAR Instant
      Neteller Nil
      *Minimum Deposit of USD250
      ZAR USD EUR GBP Instant
      SKRILL Nil
      *Minimum Deposit of USD250
      ZAR USD EUR GBP Instant
      FUND WITH DEPOSIT FEES ACCEPTED CURRENCIES APPROXIMATE PROCESSING TIME
      Digital currencies Nil
      *Minimum Deposit of USD250
      BTC – Bitcoin
      PAX – Paxos Standard
      BCH – Bitcoin Cash
      ADA – Cardano
      USDTTRC20 – USDTTRC20
      ZEC – Zcash
      XRP – Ripple
      ETH – Ethereum
      USDT – Tether USD ERC20
      TUSD – TrueUSD
      LTC – Litecoin
      DASH – Dash
      USDC – USD Coin
      Instant
      Wire Transfer/ Direct Deposit 2.5% of deposit amount Bank: First National Bank
      Address: Bank City, Johannesburg | 3rd Floor, 1 First Place,
      Simmonds Street, Johannesburg, 2001
      Postal address: PO BOX 1153, Johannesburg, 2000
      Branch Code: 250655
      Account Number: 62776923742
      SWIFT code: FIRNZAJJ
  4. Minimum Initial Deposit

    1. iFX Brokers Holdings (Pty) Ltd offer a variety of account types and a Standard Account do not require any minimum deposit. Premium and VIP ac counts do however require a minimum deposit of the equivalent of USD250 (Premium Accounts) and USD1000 (VIP Accounts).

  5. Withdrawal of Client funds

      • To check what withdrawal methods are available to you, please access the Secure Client Area and click ‘Withdraw’. Your withdrawal methods will be displayed on this page.
      • You may request to withdraw funds from your account by completing the electronic withdrawal request form in the “Withdrawal” section of the Secured Client Area subject to delivering to us the required documents. If your withdrawal request is made to us without meeting all requirements, the Company reserves itself absolute discretion to not execute this withdrawal request until all legal requirements are met.
      • The Company does not charge any fees for transferring the funds to you, but any expenses incurred by the Reserve Bank, Bank, Credit Card Company, Payment Processor or e-Wallet for transferring the funds shall be borne by you.
      • Transfers (withdrawals) of funds to accounts/cards other than the Originating Account/Card is allowed at the Company’s absolute discretion and provided the Company is satisfied that there is a reasonable justification for transmitting the funds to a different account.
      • Transfers (withdrawals) of funds to accounts/cards other than the Originating Account/Card is allowed at the Company’s absolute discretion and provided the Company is satisfied that there is a reasonable justification for transmitting the funds to a different account.
      • The minimum withdrawal amount is ZAR50 (Fifty Rand), unless otherwise stated.
      • The Client is fully responsible for the banking details given to the Company and the Company accepts no responsibility for the Client‘s funds, if the details provided by the Client are wrong. If a withdrawal request is made to a bank account, the details must be approved prior to processing a withdrawal request.
      • To avoid unnecessary delays, please allow 24 business hours for bank account approval.
      • We shall make any payments due to you in such a manner as we deem appropriate in the circumstances and reserve ourselves the right to initiate legal proceeds against any Client submitting a chargeback. In case of a chargeback, we reserve our right to immediately close/cancel all positions and/or profits and bonus without any further warning and close the trading account.
      • Currency conversions are done at the average of the daily rate over the last 3 business days (as per the Reserve Bank website) with an adjustment of +5c to the nominated rate for deposits, and -5c for withdrawals, for administrative costs involved in the processing of funds.
  6. Withdrawal Confirmation

      • The system will confirm by email that your withdrawal request has been received.
      • The status of your withdrawal request is displayed in the Secured Client Area.
      • You will receive confirmation email confirming the successful completion of your withdrawal request.
  7. Withdrawal Processing Time

    1. All withdrawal requests are processed by our Accounting Department within one working day. The time required for the transfer of funds varies, however, since it is dependent on your payment method.

    2. Although bank transfers are routinely processed within a day, it may take up to 48 working hours to be credited to your account.

    3. Withdrawals over ZAR100,000 can take up to 3 (Three) working days to complete (3 days from request to payment). Withdrawals are only processed during office hours (Monday to Friday)

  8. Withdrawal Enquiries

    1. For bank transfer withdrawals that have not been affected after five working days of making a withdrawal request, kindly contact Support at support@ifxbrokers.com

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