IFX Brokers vs Deriv

IFX Brokers vs. Deriv

We spent many hours thoroughly examining the best-in-class Forex brokers for 2023. Here, we take a closer look at IFX Brokers and Deriv.

Which offers better pricing – IFX Brokers or Deriv?

IFX Brokers and Deriv both offer competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency. Deriv offers an average spread of 0.5 pips on the EUR/USD currency pair.

IFX Brokers charges competitive commissions of USD6 per round turn, while Deriv does not charge any commissions on any of its trading options.

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.

Deriv Investments (Europe) is licensed in Malta and regulated by the Malta Financial Services Authority (MFSA) under the Investments Services Act. It also falls under various other regulatory bodies depending on the country it does business in, such as the Labuan Financial Services Authority (LFSA) in Malaysia, the Vanuatu Financial Services Commission (VFSC) in Vanuatu and British Virgin Islands Financial Services Commission (BVI FSC).

Although it accepts clients from South Africa to trade through the broker, it is not regulated in South African by the Financial Sector Conduct Authority (FSCA).

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.

Deriv on the other hand offers trading on MetaTrader5 as well as various other in-house platforms, that include Deriv X, Deriv EZ, Deriv GO, Deriv Trader, SmartTrader, Deriv Bot and Binary Bot.  

Do these brokers both offer MetaTrader?

IFX Brokers offers access to both MetaTrader4 and MetaTrader5. Deriv only offers trading on the MetaTrader5 platform together with various proprietary platforms.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, whereas Deriv offers access to 72 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 Deriv?

Deriv is a reliable and secure broker that is regulated in multiple jurisdictions. In the EU, Deriv is regulated by the Malta Financial Services Authority (FSA). For traders outside of the EU, the broker is licensed with the Vanuatu Financial Services Commission (FSC) and the British Virgin Islands Financial Services Commission (FSA). Also, Deriv.com is regulated by Malaysia’s Labuan Financial Services Authority (FSA).

In line with licensing conditions, customers benefit from negative balance protection, so users can’t lose more than their deposit. In addition, the broker’s capital is kept separate from traders’ funds.

Also, financial services compensation schemes are in place to make customers whole should the broker go under. Note, the amount covered under financial services compensation schemes varies between regulators and jurisdictions

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 Deriv?

Deriv is an online financial trading broker that was founded in 1999 and headquarters in Birkirkara, Malta. The broker boasts many years of providing competitive trading conditions for traders of all levels, as well as a variety of trading services that come with competitive fees and spreads.

The broker is licensed and regulated by several financial authorities, that includes the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (LFSA), the British Virgin Islands Financial Services Commission (BVI FSC), and the Vanuatu Financial Services Commission (VFSC).

Deriv offers trading in assets such as CFDs and derivatives on Forex, stocks, indices, cryptocurrencies, options, and commodities.

Opening an account with Deriv is easy and hassle free and you have a choice between three account types, namely Standard Financial, Financial STP, and Synthetic accounts. Each account type comes with its own trading options and condition, requiring a minimum deposit of only $5.

New traders also have the option to open a Demo account, which is free of charge, to practice trading with.

Trading is offered commission-free on all the trading accounts and Deriv does not charge deposit or withdrawal fees. If a trader holds a position for more than one day, they will be subject to overnight fees and the broker also charges an inactivity fee of $25 on accounts that have been inactive for more than 12 months.

Spreads on all the account types are tight and variable, with an average spread of 0.5 pips for the popular EUR/USD currency pair in Forex trading.

To deposit or withdraw funds, traders have the option of a number of payment methods, such as bank wire transfers, credit and debit cards, fasapay, Perfect Money, Skrill, Neteller, WebMoney and paysafe.

Deriv offers trading on the popular MetaTrader5 together with various proprietary web platforms, that include Deriv X, Deriv EZ, Deriv GO, Binary Bot, and SmartTrader.

A variety of trading tools, including technical indicators, tools, charts, and adaptable trading techniques, are available on all platforms. These platforms are all designed with user-friendly interfaces. The majority of the platforms are accessible from online, desktop, and mobile devices, making it a practical choice for traders who are constantly on the go.

On education and research tools, traders can access Deriv Academy which covers recent market news, educational videos, and trading articles. Unfortunately, Deriv does not provide trading seminars, webinars, insights, and other learning materials and research which is essential for any trader.

Overall, Deriv is regarded as a trustworthy broker with access to a variety of trading platforms and instruments. The broker offers a high level of security and transparency because it is authorised and regulated by numerous financial regulatory agencies. This broker’s major benefits include commission-free trading, no deposit or withdrawal fees, and negative balance protection.