IFX Brokers vs Blackbull Markets

IFX Brokers vs. CMC Markets

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

Which offers better pricing – IFX Brokers or Blackbull Markets?

IFX Brokers charges spreads from 0.5 pips on major instruments such as EUR/USD on the VIP Account, which translates to an average of 11 USD trading costs when considering that there is a 6 USD commission fee.

Blackbull Markets charges spreads from 0.0 pips EUR/USD on its Institutional Account with negotiable commissions.

In contrast, the Prime Account has spreads from 0.2 pips EUR/USD and an overall trading cost of 8 USD, considering that commissions on this account are 6 USD per lot traded.

Blackbull Markets’ Standard Account trading expenses are incorporated into the spread. As a result, the spreads are greater than Prime and Institutional Account charges because they are based on commissions.

Prime and Institutional accounts are unavailable to most traders, especially novices, due to their prohibitive minimum opening amounts.

Overall, Blackbull Markets’ Standard Account trading fees are higher than usual. In contrast, its Prime Account trading costs are somewhat lower than normal.

The average trading cost per lot of EUR/USD with other brokers is between 9 to 12 USD, as is with IFX Brokers at 11 USD minimum.

Moreover, the Prime and Institutional Accounts offered by Blackbull Markets are unavailable to most traders due to their prohibitive minimum deposits.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is an FSCA-regulated broker based in South Africa. In the past 4 years, IFX Brokers has grown in popularity and has not given its clients any reason to doubt its transparency or legitimacy.

IFX Brokers provides a well-regulated and fair environment where beginner and professional traders can trade various financial instruments. All client funds are kept in segregated accounts, and the FSCA protects traders.

Blackbull Markets was established in 2014 in Auckland, New Zealand. In addition, Blackbull Markets has grown its worldwide footprint over the last several years by opening support offices in London, New York, Kuala Lumpur, Hong Kong, and Japan.

Blackbull Markets is governed by the Financial Markets Authority (FMA) of New Zealand and the Seychelles Financial Services Authority (FSA).

Which broker offers the superior trading platform?

IFX Brokers and Blackbull Markets offer the superior MetaTrader 4 and MetaTrader 5 trading platforms across devices, ensuring seamless integration of the trader’s account regardless of where they are or where they travel for work or leisure.

In addition, for those who want to use their FIX software, Blackbull Markets provides a FIX API. You can easily trade directly with the ECN grid without using the MT4 program at all by using Direct Market Access (DMA).

If you want to keep the MT4 platform operating remotely 24 hours a day without requiring your PC to be powered on, Blackbull Markets can supply you with Virtual Private Server (VPS) hosting linked via fibre optic cable to the Equinix Servers.

For social trading, Blackbull Markets has partnered with industry leaders. If you have a Blackbull Markets trading account, you may see the trades made by other users.

Do these brokers both offer MetaTrader?

All IFX Brokers and Blackbull Markets accounts are compatible with MT4 and MT5. Therefore, traders can choose between these platforms according to their trading strategies.

Many traders, of varying experience levels, like the MT4 platform. It has a low learning curve, is easy to use, and allows for much of your trading experience customization. Subsequently, more Forex firms are switching over to the MT5 trading platform.

Furthermore, MT5 offers a more up-to-date user interface, no chart limits, a Depth of Market data visualization, and an integrated economic calendar. It also has a built-in chat system and supports more pending orders than MT4.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 70 currency pairs. On the other hand, Blackbull Markets only offers 27 forex pairs, an extremely limited range compared to IFX Brokers and other competitors.

Is it safe to trade with IFX Brokers?

Traders can safely trade with IFX Brokers. Because it is a South African broker, IFX Brokers falls under the Tier-2 Financial Sector Conduct Authority (FSCA) oversight. The FSCA has a strict framework and process to ensure that only legitimate brokers operate within South Africa.

The FSCA safeguards South African investors and ensures that all brokers with an FSP license are subject to regular audits to ensure that brokers can fulfil their financial obligations, offer fair and transparent trading services, and ensure that all client funds remain secure in segregated accounts.

Is it safe to trade with Blackbull Markets?

It is safe to trade with Blackbull Markets.

South Africans will trade via the subsidiary BBG Limited, which is authorized and regulated by the Seychelles Financial Services Authority (FSA). However, the amount of protection provided by the FSA is modest compared to regulators such as the FCA and ASIC.

CFD brokers registered with the FSA must separate client funds from firm operating capital. However, they are not required to give negative balance protection and are not subject to leverage regulations.

However, traders can opt to trade via the subsidiary, Blackbull Group Limited, which is authorized and regulated by the FMA; however, this entails a more cumbersome registration procedure in which customers must have their papers notarized and approved.

Subsequently, the FMA is a far stronger regulation than the FSA, guaranteeing that all client monies are stored in segregated accounts, that brokers give negative balance protection to their customers, and that brokers are regularly examined.

Who is IFX Brokers?

IFX Brokers is still a young broker, having opened its doors to the public in 2018. IFX Brokers offers a range of financial instruments across asset classes that can be traded through the popular and reliable MT4 and MT5 platforms.

IFX Brokers’ platforms are powered by Equinix, ensuring that traders can expect low latency, minimal slippage, and some of the best trading conditions. In addition, IFX Brokers offers 5 trading accounts that can be opened, with each account level suited to different experience levels.

The minimum deposit that traders can expect is an ultra-low $10, and South Africans can register a ZAR-denominated account, which means that traders pay 180 ZAR depending on the USD/ZAR exchange rate.

While this saves traders from currency conversion fees when they deposit and withdraw in ZAR, traders still pay these fees when they trade forex pairs denominated in other currencies, for instance, USD/EUR.

IFX Brokers offers a choice between five versatile trading accounts, each dedicated to different types of traders and their corresponding experience levels. As a result, traders can expect competitive and transparent pricing, with four out of five accounts only charging the spread.

Who is Blackbull Markets?

Blackbull Markets is a New Zealand-based forex, indices, commodities, stock, energy, and precious metals trading platform.

Two of the most widely used trading platforms, MetaTrader 4 and 5, are available via Blackbull Markets. In addition, traders can choose from three types of Electronic Communication Network accounts: ECN Standard, ECN Prime, and ECN Institutional.

In addition, Muslim traders who follow the Sharia law can open an Islamic Account with any of these financial institutions. Thus, the ECN Institutional Account’s provision of low fees and low spreads will appeal to traders at the Pro level.

Blackbull Markets provides access to the widely used MetaTrader 4 and MetaTrader 5 trading platforms. In addition, Blackbull Markets has a moderate selection of instruments and currency pairs to trade. However, many other brokers provide more options.

Traders interested in commodities and indices will want to take note of Blackbull Markets due to the broker’s extensive offering in these areas.