IFX Brokers vs. AvaTrade

IFX Brokers vs AvaTrade

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

Which offers better pricing – IFX Brokers or AvaTrade?

Both IFX Brokers and AvaTrade stand out for their extremely competitive and transparent pricing. For the average spread on the EUR/USD pair, IFX Brokers comes out ahead at 0.2 pips, while AvaTrade still offers a very tight spread of 0.9 pips.

That said, AvaTrade offers trading that is completely free of commissions across the board, while commissions are charged at IFX brokers, though commission is only charged on the IFX VIP account at $6 USD / R100 ZAR.

Which broker offers more security when trading Forex and CFDs?

Both IFX Brokers and AvaTrade are well-regulated and reputable brokers that offer excellent levels of security when trading Forex and CFDs. For South African traders, both IFX Brokers and AvaTrade are regulated by the FSCA.

AvaTrade is an international Forex broker that is regulated in numerous tier-1 jurisdictions around the world by such reputable organisations as the FCA, ASIC, and CySEC.

However, traders will benefit from segregated bank accounts, compensation insurance, and transparent pricing conditions when dealing with both IFX Brokers and AvaTrade.

Which broker offers the superior trading platform?

While IFX Brokers provides the full, award-winning suite from MetaQuotes, consisting of both MetaTrader 4 and MetaTrader 5, AvaTrade outstrips IFX Brokers by a narrow margin in this category with its more diverse offering of advanced platforms.

As such, traders with AvaTrade receive access to the broker’s award-winning proprietary mobile app, AvaTradeGo, as well as DupliTrade and ZuluTrade.

Social Trading is available from both brokers, either through Expert Advisors from IFX Brokers MetaQuotes suite, or through AvaTrade’s social copy software.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and AvaTrade offer MT4 and MT5, award winning platforms from MetaQuotes and arguably the most popular trading platforms in the industry.

As such, traders with both IFX Brokers and AvaTrade can benefit from the social trading capabilities of Expert Advisors, as well as a range of technical indicators, market analysis, and a highly navigable interface.

How many Forex pairs can I expect from these brokers?

Interestingly, both IFX Brokers and AvaTrade offer 60 currency pairs across the most widely traded majors, making them equally compelling in this category. The primary difference is that you will get tighter spreads when trading with IFX Brokers.

South African traders with IFX Brokers will also benefit from deposits in local ZAR accounts, which means that they will not have to contend with conversion fees.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is fully regulated by the The Financial Sector Conduct Authority (FSCA), which was established by the Financial Sector Regulation Act 9 of 2017 (the FSR Act) to become a dedicated market conduct authority replacing the Financial Services Board (FSB), on 1 April 2018.

This organisation is the leading financial regulator of the South African markets, and is well-regarded internationally.

Is it safe to trade with AvaTrade?

Yes, AvaTrade is exceptionally well-regulated by the following reputable regulatory organisations:

Australian Securities & Investment Commission (ASIC), Central Bank of Ireland (CBI) and the Japanese Financial Services Authority (JFSA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC), and the Financial Sector Conduct Authority (FSCA).

As such, AvaTrade enjoys a high level of trust in the industry and provides traders with a high level of safety and security.

Who is IFX Brokers?

IFX Brokers is a South African online trading broker 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.

At IFX, customers can choose from three distinct trading account types: IFX regular, IFX Raw, and IFX Islamic. In addition to that, you have the option of creating a demo account.

Each of these accounts has access to 60 currency pairs, gold and silver, oil and natural gas, and is driven by the comprehensive trading platform features offered by the broker. These characteristics allow the accounts to cater to a variety of trading demands.

The IFX Islamic account is a swap-free account that does not charge any interest or riba and also does not charge any fees. The elimination of the standard swap charges that are ordinarily applied to positions that are held overnight or over the weekend is how “no interest” works.

IFX customers have access to almost unlimited Virtual Private Server (VPS) possibilities because the IFX platform is hosted at the Equinix NY4 data center.

The ability to run automated algorithmic methods and access professional advisors virtually around the clock on a virtual computer is one of the most crucial benefits that virtual private servers offer to Forex traders.

In a nutshell, the servers are able to access multiple liquidity sources since they continuously process the live interbank spread quotations while utilizing technology that is multi-tiered and offers the best bid and offer. As a consequence of this, once you make a trade, it will immediately be connected to the current liquidity provider that is offering the best pricing at the lowest cost.

In return, IFX ensures that its customers will experience the lowest possible latency as well as the fastest possible execution speeds, which can only be matched by a select few investment banks and big hedge funds.

Who is AvaTrade?

There is a solid reason why AvaTrade is considered to be among the world’s top brokers in terms of quality, size, and reputation. It provides users with access to a multitude of trading platforms, one of which is the prestigious mobile trading software known as AvatradeGO.

Additionally, it provides a comprehensive assortment of trading tools of the highest caliber, such as Trading Central, in addition to great educational and analytical parts.

Avatrade offers competitive trading costs, a diverse selection of trading products, and multiple trading platforms from which customers can choose.

Avatrade provides clients with a world-class variety of instructional and market analysis materials, in addition to some of the most advanced trading tools the industry has to offer.

Avatrade is widely recognized as one of the most successful and well-rounded Forex brokers available, making it an appealing option for most traders.

AvaTrade’s popular social trading platform, AvaSocial, can be accessed directly through AvaTrade’s award-winning mobile app, AvaTradeGO. This app features excellent risk management tools and a direct connection to AvaTrade’s social trading platform.

South African traders may have a problem with Avatrade due to the fact that even though it is regulated by the South African FSCA and has a local South African support team, South Africans will be onboarded through Avatrade’s British Virgin Islands-based entity.

This may be a source of frustration for South African traders. In the case that South African traders get into a disagreement with the corporation, this indicates that they have no legal options available to them.