FAQ’s
All your personal information is fully protected by an SSL certificate and is saved on a secured server.
Yes. The company’s representative applying for a corporate account will firstly register with IFX Brokers. The personal details must be those of the company’s representative.
No, IFX Brokers do not accept joint accounts.
You can only have one IFX Account (CU Number Profile) but we offer you the flexibility to have 1 trading account in each available currency per trading platform.
Provided all your documents are uploaded, and your Financial Experience and FACTA questionnaires complete, account verification and approval is done within 8 business hours. Please note account verifications are only executed in Business Hours (Monday – Friday)
To comply with the Financial Intelligence Centre Act, 38 of 2001, we would require the following documents:
Proof of Identity – any 1 of the following
· Copy of the front and back of your Identity Card,
· Copy of your Identity Document
· Copy of the front and back of your drivers license.
Confirmation of residential address – any 1 of the following, provided it is not older than 3 months:
A recent lease/rental agreement;
Mortgage statement from a bank;
Affidavit from local police station or ward councillor
Utility bank account
Municipal rates and taxes;
IFX Brokers Holdings (PTY) Ltd does not offer its services to the residents of certain jurisdictions such as EU Member States, Iceland, Norway, Liechtenstein, Afghanistan, Democratic People’s Republic of Korea, Ghana, Iran, Iraq, Libya, Mongolia, Myanmar, Nicaragua, Panama, Somalia, Syrian Arab Republic, UAE, Uganda, United States of America, Canada, Yemen, Zimbabwe.
You can conveniently upload them directly from you profile in your secure client area, or alternatively submit them to docs@ifxbrokers.com for processing.
Account approvals are executed in business hours, Monday to Friday. You can expect same day approvals, provided all supporting documentation and questionnaires are fully completed.
Account approvals are executed in business hours, Monday to Friday. You can expect same day approvals, provided all supporting documentation and questionnaires are fully completed.
A failed Financial Experience questionnaire, serves as confirmation that you have been notified of the risk involved in Forex trading, and that you wish to proceed. irrespective of your level of experience.
Please check the correct spelling of the provided email address, as well as the spam and junk mail folders associated with your email account. Please report to support@ifxbrokers.com for prompt assistance.
Documents should not be older than 6 months, and should contain clear information matching the account holders identity and proof of residential address.
Withdrawals are processed within 4 hours, and paid same day. Kindly note that withdrawals are only processed in weekdays (Monday-Friday, 7-5)
We currently support OZOW, Payfast, Skrill, Neteller and a selection of Digital Currencies.
We are based in Jeffreys Bay, Easter Cape, South Africa
Client funds are kept separate in a segregated account and monitored daily by our 3rd party auditor. In additional IFX Brokers also have fidelity and professional indemnity insurance to give our clients additional piece of mind.
Inter account transfers are executed at real-time exchange rates and IFX do not add any additional fees to transfers.
Yes, IFX accept a selection of Digital currencies as funding method.
You can transfer funds to and from trading accounts directly from your IFX Wallet, however we do not allow the transfer of funds to accounts not held in your name.
IFX is not a financial or tax advisor. We do not withold taxes or have any obligation to report any activity. We recommend you to discuss this with your private tax consultant.
No. In support of International Anti-Money Laundering Regulations, IFX do not accept third party funding
Once a withdrawal is requested, you can review the status directly from your client area.
Deposits can be executed directly from your client portal. Please select any of the available methods. Please note Payfast, Ozow, Skrill, Neteller and Digital Currencies support instant funding. Should you wish to use the Wire Transfer method, the official proof of payment should be emailed to pop@ifxbrokers.com or uploaded directly from your portal for allocation. Kindly ensure that your CU number is used as payment reference. A manual fund allocation fee of 2.5% is levied, and Wire Transfers can take up to 48 hours to be allocated.
Withdrawals can be executed directly from your client portal. Please note that your account details require bank verification, which could take up to 24 business hours to complete.
Bonus Offers are issued with terms and conditions applicable to the specific bonus offer. Please request the current conditions from support@ifxbrokers.com
OZOW, PAYFAST, NETELLER, SKRILL AND DIGITAL CURRENCY deposits are verified and approved instantly. For Wire Transfer, please allow up to 48 hours for verification and allocation. Please note that deposits are only processed during working hours (7h00am – 17h00, Monday – Friday
All withdrawal requests are processed by our Accounting Department within 24 hours, Monday – Friday.
Banking details can be added directly from your client portal. To expedite verification you can upload proof of banking detail (Eg bank statement) directly from your secure client portal. Please note, banking details are only verified in business hours, Monday – Friday.
IFX do not impose any minimum deposit fee, however, we recommend R3500 to be a good starting point. Some Payment Providers may require a minimum deposit.
Trading accounts are offered in USD, GBP, EUR and ZAR. Since IFX Brokers are a South African Registered entity, Deposits and Withdrawals are executed in ZAR
Please use your IFX CU number as reference number when making a deposit. Proof of payments can be sent to pop@ifxbrokers.com
For bank transfer withdrawals that have not been effected after 2 working days of making a withdrawal request, kindly contact your account manager, by logging a ticket directly from your client portal for prompt assistance.
The system keeps track of all the deposits and withdrawals and balances, hence when a withdrawal is requested it may be built up by various smaller amounts.
All deposits are allocated to your IFX Wallet. You may then execute your internal transfers to the trading accounts of choice.
Request you account to be converted to an IB account, emailing your request to partners@ifxbrokers.com
Introducing Brokers make rebates on their clients’ trades.
Rebate payments are credited to your IFX Partner area, where you can determine when you want to be paid out.
An Introducing Broker (IB) is essentially an agent who introduces new customers to a forex brokerage. In return for sending custom to a brokerage, the Introducing Broker receives a fee. In the case of forex, this usually involves a share of the spread or commission charged by the brokerage.
Introducing Brokers make rebates on their clients’ trades. IBs meet with their clients and discuss various aspects of forex and determine orders. Typically, IBs originate from financial services since these provide a steady stream of likely candidates.
An IB makes money by referring his clients exclusively to a parent brokerage. The Introducing Broker has the advantage of operating under the auspices of the parent brokerage, enjoying increased credibility and exposure to a range of contacts.
Most IBs have some interest in forex but they may not have the resources or experience necessary to succeed as traders. For this reason, they concentrate on their strengths, including their valuable contacts in the financial sector and excellent networking skills. They have the time and inclination to recruit new traders.
Yes. Please discuss your marketing requirements with our Partners Team (partners@ifxbrokers.com)
Your referral link is displayed in your secure IB Portal
To remove any unwanted accounts, kindly email your request to support@ifxbrokers.com
If your request has not been resolved, a formal complaint in terms of our Complaints Policy and Procedures, may be submitted to complaints@ifxbrokers.com
No, our bonus is only an equity bonus and can not be withdrawn. You can off course withdraw any profit made on the account.
No, The bonus offer is available, however not recommended. Should you wish to not receive a bonus, simply request support@ifxbrokers.com to remove the bonus option from future deposits.
You can open a live account directly from your IFX Secure Client Area in any of the available currencies.
You can transfer funds from your IFX Wallet directly to and from your MT4 account of choice
Bonus will be added automatically in line with the then current bonus conditions. Should you wish to not receive a bonus, simply request the removal of the bonus by sending an email to support@ifxbrokers.com
Login details will be sent to your email addres as soon as your email is validated
A separate email will be sent to you to validate your email address
Automated demos are created when you registered with us, there is no credit on the demo account, should you wish to practise on the demo account, you will have to create a new one and add credit. should the demo run out of funds, a new demo account can be created directly from your secure client area.
When your email address is not validated you will not be able to log in. Please contact support@ifxbrokers.com for prompt assistance.
Since we receive funds in ZAR, please select the ZAR currency to view all available funding methods.
Since the negative balance protection is an automated process, please allow approx 30 minutes for the balance to be corrected. Any related questions can be addressed to support@ifxbrokers.com
Most indices are available as 0.01 lots, however, please refer to the contract specifications for current detail
IFX Brokers is full fledged STP broker and welcome traders of all trading styles. Whether you are a scalper, news trader, swing trader, you most welcome to experience the true STP experience at IFX Brokers
You can only withdraw if you have sufficient free margin which is the amount of idle money for you to use. You may use this amount to open further positions or to withdraw. It is the responsibility of the trader to make sure that the trades don’t get stopped out if a withdrawal is requested when there are open positions
You will require the IFX Brokers MT4/MT5 platform which can be downloaded directly from your secure client portal.
No, your position will not be closed when you go offline. Positions can only close when either a stop was triggered, a limit order reached or closed by you, the trader.
Yes, we offer free demo accounts to anyone who registers with us.
Yes, you can trade micro lots on all our platforms with our standard and premium account type.
Yes we do offer Islamic accounts. You would be required to open a standard account and send an email to support@ifxbrokers.com requesting your account to be converted to an Islamic Account. The Company reserves the right to call for proof of religion.
The spread change because the spreads are variable. During the news times, the order book changes in the interbank market due to sudden influx of orders so as the new orders com in and some orders are cancelled, it results in spread widening.
Unfortunately we are not a signal provider.
To change the leverage of your trading account, login to the IFX Broker Account and click on your account number under ‘Account(s)/Actions, found under ‘My Accounts’. Select ‘Change Leverage’ from the dropdown menu.Please note: To change the leverage of your trading account, all open positions must be closed. Leverage changes may only be performed once every 24 hours.
Log into your IFX Brokers account and select the trading account summary. Follow the screen prompts to execute your request
It’s really easy. All you do is click on the Open Demo icon on the IFX Brokers homepage, or click here. Enter your details in the online form and click ‘Submit’. Your demo account will be created immediately, directing you to your account page. A verification email containing your platform credentials will be sent to the email address you have provided.
To register for a live trading account, click on the ‘Open Account’ icon on the IFX Brokers homepage, or click here. Complete the form and click ‘submit’. An email containing your
In forex trading, the Margin Call Level is when the Margin Level has reached a specific level or threshold.
When this threshold is reached, you are in danger of the possibility of having some or all of your positions forcibly closed (or “liquidated“).
The Margin Level is the “metric” and the “Margin Call Level” is a specific “value” of the metric (which is the Margin Level).
A mini lot is a lot of 10,000 units of a country’s base currency. It is called a mini lot because it is only 1/10th of the size of a 100,000 unit standard lot. For instance, if you’re trading on an account using U.S. Dollars, a mini lot would be a trade worth $10,000 of USD. A mini lot is a common trade size used in a forex mini account.
A Stop Out Level is when your Margin Level falls to a specific percentage (%) level in which one or all of your open positions are closed automatically (“liquidated”).
This liquidation happens because the trading account can no longer support the open positions due to a lack of margin.
More specifically, the Stop Out Level is when the Equity is lower than a specific percentage of your Used Margin.
If this level is reached, your positions will automatically start closing out with the most unprofitable one until your Margin Level is back above the Stop Out Level.
If your Margin Level is at or below the Stop Out Level, positions will close quickly as possible in order to protect you from possibly incurring further losses.
This act of closing your positions is called a Stop Out.
Keep in mind that a Stop Out is not discretionary. Once the liquidation process has started, it is usually not possible to stop it since the process is automated.
A demo account will stay active if used. All demo accounts are automatically deleted by the servers after a period of 14 days inactivity.
Spread is the difference between Bid and Offer of the asset you want to trade. Spreads vary between various asset classes and are as low as 1.3 on standard accounts.
Our forex swap rate, or rollover, concerns overnight interest that is added or deducted when a position is held open overnight. It may be earned or paid. Swap/Rollover rates are determined by the existing overnight interest rate differential between the two paired currencies, and whether the selected position is buy “long” or sell “short.
The first step is to open an account. All you need to do is complete the application here, submit your verification documents, fund your account.
No, the demo account is a snapshot of our standard account offering.
No, you need to obtain 3rd party software to enable MT4 software
A long position is a buy position, meaning that this position will be in profit if the currency rate goes up. A short position is a sell position, meaning that this position will be in profit if the currency rate goes down.
Please refer to the account specifications, since various levels are applicable
When a trader reaches margin call, it is a warning that their available margin required to keep their open positions is running low and is in risk of hitting a ‘stop out’.
STP mean straight through processing where there is one Over the counter party liquidity provider with whom your trades get offloaded to.
Spreads are the difference between the bid and ask price of any particular instrument. Yu will notice two different prices for a currency pair: the bid and ask price. The ‘bid’ is the price at which you can sell the instrument. The ‘ask’ is the price at which you can buy the instrument. The difference between these two prices is known as the spread.
When you enter into a ‘buy position’, you enter at the ask price and exit at the bid price.
The spread is usually measured in pips, which is the smallest unit of the price movement of a currency pair.
A stop out is an automatic close of open positions if the margin reaches the ‘stop out’ level. If you prefer to hold onto the positions and would like to avoid the risk of being stopped out, you would need to fund the trading account to increase the available margin of the trading account.
A take profit order is a standing order put in place by traders to maximize their profits. It specifies a certain price above the purchase price, which is chosen by the trader. If the price of a security reaches that limit, it will automatically trigger a sale.1 If the price does not reach that limit, the order is not acted on.
An interest rate differential is a difference in the interest rate between two currencies in a pair. If one currency has an interest rate of 3% and the other has an interest rate of 1%, it has a 2% interest rate differential. The use of interest rate differentials is of particular concern in foreign exchange markets for pricing purposes.
Margin is money you need to have in your IFX MT4/5 account to secure your open position.
There is none. You should constantly develop your own strategies for every possible market situation if you want to be in profit. Specific Forex strategies can only be good for a limited period and for specific currency pairs.
The difference between forex trading and commodity trading is primarily the products underlying tradable security. A commodity market trades in goods such as coffee, cocoa, and mined products such as gold and oil. Forex—the foreign exchange, also abbreviated as FX—is a global market that trades in currencies such as dollars, euros, and yen.
The maximum leverage on all our accounts is 1:500
Per trade, the minimum is 0.01 lots and maximum is 100 lots
When it comes to forex trading, drawdown refers to the difference between a high point in the balance of your trading account and the next low point of your account’s balance. The difference in your balance reflects lost capital due to losing trades.
We recommend a starting balance of at least ZAR500
There is not minimum, you receive rebates on all your client’s trading activities.
T100.m
Please refer to the contract specification for up to date market times.
We offer a range of trading accounts designed to meet the requirements of various traders.
IFX STANDARD
& No hidden Costs
IFX PREMIUM
& No hidden Costs
IFX VIP
IFX ISLAMIC
& No hidden Costs
IFX CENT
& No hidden Costs
Our servers are located in state of the art data center in the heart of London co-located with all the financial institutions giving seamless execution to our clients. Our servers are in GMT +1 time zone. The time zone shifts when day light savings get enabled and when it gets disabled. All of our clients and partners are informed before hand when it happens.
Default pairs are used for conversion purposes and only instruments with .lmax is tradeable
There can be a number of reasons why you are unable to place a trade on MT4.
For example,
1. Not enough free margin. Check your free margin see if it is enough to cover the position you are trying to open. If not, you may add more deposit into your account.
2. Logged in using a read-only password.
3.Other wrong parameter settings. For example, your stop-loss and take-profit levels may have been set wrong against the market price, or your pending order is incorrectly placed above or below the current market price.
Market liquidity can be quite low around midnight in MT4 server time, resulting high volatility on prices. Hence why stop-out is more likely to be triggered at 12 at night.
When you open a trade, you do it at the Ask price for Buy trades or at the Bid price for Sell trades. If you were to close the trade, the opposite price is used; the Bid price to close a Buy trade and the Ask price to close a Sell trade. The same applies for calculating the trade’s floating profit or loss. Hence, when opening a new trade, it always starts in the red due to the Bid/Ask spread. This is why, every traders must first beat the spread for their positions to become profitable.
Gaps can happen on candlesticks chart for different reasons. For example, it can occur during market breaks. It can also occur when quotes are missing.
Like many other prestigious software, in rare cases MT4 can freeze, especially when under conditions that are far beyond what it was designed for. Those conditions include but not limited to
1.Your MT4 have been running too long.
2.You computer does not have sufficient memory.
As a trader, you can wait for it to come back, or close and reopen it. If the issue still persists, please report it.
Here can be different reasons when it comes to pending order not triggering. For example,
1.Quite often this can be because you did not have sufficient free margin to open the position, at the point when your pending order was supposed to be triggered.
2.You specified target price not reached.
3.In rare cases, based on the setting, if there is not enough liquidity to full fill your pending order, it will not be triggered. Even though it might had already reached your target price.
When there is more liquidity in the market, it would naturally result in the narrowing of the spread. This is because there is a lot more participants in the market, so the spread is also driven by basic principles of demand and supply. During times of low liquidity, spreads would widen as there are less participants willing to enter the market at the specified prices at a certain point in time.
Send your request to support@ifxbrokers.com to remove the bonus option from your account
Please consult with your account manager for details on the current bonus offer.
No the IFX Bonus is not tradeable
The maximum bonus on all account helds per household is USD 5000