IFX Brokers vs Blackstone Futures

IFX Brokers vs. Blackstone Futures

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

Which offers better pricing – IFX Brokers or Blackstone Futures?

IFX Brokers and Blackstone Futures both offer tight, competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency pair, while Blackstone Futures offers 0.6 pips for the same currency pair.

IFX Brokers charges competitive commissions of USD6 per round turn, while Blackstone Futures does not appear to charge commissions but works these charges into the spread.

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.

Blackstone Futures is a South African subsidiary of FINSA Europe, a London, UK-based broker authorised by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

The Core Spreads brokerage business, which is run by FINSA Europe and has affiliates in South Africa through Trade Nation Financial, is better recognised.

Since June 2019, the broker has been under the watchful eye of the Financial Sector Conduct Authority (FSCA) in South Africa.

Which broker offers the superior trading platform?

IFX Brokers provides access to both MetaTrader 4 and MetaTrader 5, which are widely regarded as the best trading platforms in the industry. As such, traders will have access to a wide range of tools, diverse market access, and fast execution.

Blackstone Futures offers both CloudTrade and MT4 on both accounts, and trading conditions differ depending on which platform you use. 

Do these brokers both offer MetaTrader?

Yes, IFX Brokers offers access to both MT4 and MT5, while Blackstone Futures only provides access to MT4.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while Blackstone Futures only provides access to 32 currency pairs.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated Forex broker with a South African basis that possesses a complete FSCA licence. The numerous financial institutions in the nation are under the direction of the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) was established with the aim of protecting investors by promoting fair treatment and educating people on various financial matters, as well as to promote and maintain the efficiency and integrity of financial markets.

Is it safe to trade with Blackstone Futures?

Yes, Blackstone Futures is also regulated by the FSCA in South Africa, so that local traders will receive full deposit security and a transparent trading environment.

Who is IFX Brokers?

South African Forex broker IFX Brokers is well-regulated and has a lot of clients. Customers of IFX brokers can use the MetaTrader 4 and MetaTrader 5 trading platforms, which are some of the most popular and successful in the world.

These platforms have better charting features, state-of-the-art order management programmes, and a bilingual user interface that lets charts be laid out in different ways.

MetaTrader 4 or 5 can also be used on iOS and Android devices without having to install any extra software.

Customers of IFX Brokers can trade on a wide variety of trading instruments. Some of these financial products are currencies, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies.

Clients of IFX brokers can also trade in 60 different currency pairs, precious metals (gold, silver, platinum, and palladium), natural gas, and oil.

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

You can also use a “practise account” instead of a real account.

Customers of IFX brokers can easily add money to and take money out of their accounts by using Pay Quick, Visa, or MasterCard credit cards, among other options.

The best thing about the whole thing is that there are no fees for deposits or withdrawals. The withdrawal process can be done in as little as two to five hours for South African customers.

On the other hand, it takes four to five working days to finish the withdrawal process for customers outside of the country.

Who is Blackstone Futures?

Blackstone Futures was established in 2009, and it is a licenced South African broker that offers a ZAR Account and excellent instructional resources.

With a minimum deposit of only 1,000 ZAR, minimal trading expenses with spreads starting at 0.6 pips (EUR/USD), and an optional ZAR wallet, Blackstone Futures is a good option for novice South African traders.

While the amount of available financial assets may seem lower than with other international brokers, this shouldn’t stop any serious rookie trader from opening an account.

Traders new to the market have access to a wealth of resources, including weekend hours for customer care inquiries and weekly webinars and seminars held in various locations across South Africa.

Furthermore, Blackstone helps new traders by setting leverage at 1:100 and increasing it to 1:400 if a client proves they can be trusted with their money.

Blackstone Futures is widely regarded as a reliable broker for financial transactions due to its lengthy track record of ethical conduct, extensive international and local regulation, and status as a straight-through-processing (STP) broker.

Blackstone Futures provides one live account in multiple base currencies across two trading venues. While market circumstances are favourable, advanced traders are limited to a few account types.

There is only one live account available at Blackstone Futures, and it’s geared more at novice traders than pros.

Those who have never traded before, or who have been trading for less than a year, fall under the category of “beginner traders.” Beginner traders typically cannot afford to trade full-time throughout the week since they are hesitant to risk huge sums of money.

Beginner traders are better served by trading accounts that need smaller initial deposits and allow for the use of micro-lots. However, the margins on such accounts are typically larger than those on accounts requiring a larger opening deposit.

With a micro-lot trading account from Blackstone Futures, you can get started trading with a little initial investment and competitive spreads.

Blackstone Futures does not offer the types of accounts that experienced traders demand, including those with greater minimum deposits, narrower spreads, and a commission per lot traded.

Blackstone Futures boasts on its website that both its ZAR Account and USD Account can benefit from near-instant execution because to the firm’s status as a STP-only broker. Blackstone’s Cloudtrade and MT4 are both available for use with either account, albeit the terms of trade will change depending on which platform you use.

The standard leverage for all customers is 1:100. The broker is acting responsibly by doing this to prevent excessive leverage, which involves greater risk. After demonstrating responsible trading behaviour over a set length of time, you may ask to increase your leverage to 1:400.

If you compare Blackstone Futures to other brokers, you will find that their trading platform assistance is about par.

Blackstone Futures supports both the popular and widely-used trading platform MT4 and its own proprietary browser-based interface, CloudTrade.

When switching brokers, traders who use platforms like MT4 can take their customised versions with them because those firms use third-party systems.