IFX Brokers vs EC MARKETS

IFX Brokers vs. EC Markets

We devoted several hours to a comprehensive analysis of the top Forex brokers for 2023. This article compares IFX Brokers and EC Markets.

Which offers better pricing – IFX Brokers or EC Markets?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. EC Markets offers a spread of 0.0 pips, which are highly competitive.

IFX Brokers charge commission which apply on certain accounts. EC Markets does not charge commission on any of its three account types.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African broker that is full regulated by the Financial Sector Conduct Authority (FSCA). This is the primary financial regulator in the country, allowing traders with IFX Brokers to enjoy a high level of deposit security and fully transparent trading conditions.

EC Markets is a broker that was founded in 2011 and headquarters in London, England. The broker falls under the strict regulations of the Financial Conduct Authority (FCA). In addition, it is regulated in the Seychelles by the Seychelles Financial Services Authority (FSA) and in Mauritius by the Mauritius Financial Services Commission (FSC).

Which broker offers the superior trading platform?

IFX Brokers gives users access to MT4 and MT5, comprising the whole MetaQuotes suite. These are regarded as the most well-liked and varied trading platforms in the market, and they provide social trading, a plethora of indicators, and strong charting tools.

EC Markets offers trading only on MetaTrader4 which is preferred by beginner and novice clients. The platform is available on all mobile devices as well as the web and desktop devices.

Do these brokers both offer MetaTrader?

IFX Brokers offers trading on both MetaTrader 4 and MetaTrader 5 platforms, but EC Markets only offers trading on the MetaTrader 4 platform.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers trading in about 60 forex pairs, where EC Markets offers trading in 56 forex pairs.

Is it safe to trade with IFX Brokers?

Yes. The main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA). They are in charge of overseeing IFX Brokers, ensuring that traders have access to transparent markets and a fair Ombudsman in the event that they run into any problems.

Is it safe to trade with EC Markets?

Although EC Markets is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa it is regulated in most of the other countries it operates in, which ensures the safety to trade with this broker.

EC Markets is authorised and regulated by the Financial Conduct Authority in London, England, the Seychelles Financial Services Authority (FSA) and the Mauritius Financial Services Commission (FSC). All clients’ funds are kept in separate accounts with trusted banks and it uses the highest standard PCI scan and SSL certificate for protection.

Who is IFX Brokers?

The South African foreign exchange broker, IFX Brokers is subject to the oversight of the Financial Sector Conduct Authority. The ability of any broker firm to continue operating is significantly impacted by the various regulations and limits they must adhere to. Because businesses have legal safeguards in place, there is less of a chance that they will become victims of fraud or other financial misdeeds.

IFX Brokers give its customers access to the MetaTrader 4 and MetaTrader 5 platforms, which are considered to be two of the most widely used and well-known platforms in the foreign exchange market. This is done in order to facilitate the speedy completion of foreign currency transactions.

These systems give its users access to an extensive variety of charting capabilities, a user-friendly interface that is able to handle many chart layouts and is available in two languages, and efficient order administration software.

MetaTrader versions 4 and 5 can not only be used on personal computers, but they are also compatible with mobile devices that run the iOS and Android operating systems and do not require the installation of any additional software.

The clients of IFX Brokers have access to an incredibly wide variety of trading alternatives and financial marketplaces to trade in. Products such as spot metals, energy, commodities, contracts for difference, stock indices, foreign currency, and virtual currencies are included in this category.

In addition to providing access to sixty different currency pairings, IFX brokers provide its customers with the opportunity to trade in natural gas, oil, and precious metals such as gold, silver, platinum, and palladium.

The lowest amount of money that must be deposited into a regular account is $100, and the smallest possible trade size is one hundredth of a lot. The U.S. dollar, the euro, and the South African rand are the primary currencies that can be used with this account.

In addition, the organization provides a demo account for potential customers to test out.

Customers of IFX brokers have access to a variety of easy methods, such as Pay Quick, Visa, and MasterCard credit cards, for depositing funds into and withdrawing funds from their accounts.

The fact that there are no costs associated with either deposits or withdrawals is the best aspect. Customers who are located in South Africa normally need between two and five hours to finish the withdrawal process.

On the other hand, it is common practice for businesses serving foreign customers to require a period of four or five working days to finish the withdrawal process.

Who is EC Markets?

 EC Markets is a financial company that headquarters in London, England and has been operational since 2011. It trades is various jurisdictions and has three regulatory bodies that keeps a watchful eye on it operations.

EC Markets Limited is authorised and regulated by the Seychelles Financial Services Authority and the offices are situated in Mahe, Seychelles.

EC Markets Group Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in Great Britain. It is also incorporated in England and Wales.

In Mauritius, EC Markets Limited is authorised and regulated by Mauritius Financial Services Commission (FSC) and the offices are situated Ebene, Mauritius.

EC Markets offers trading in over 150 financial instruments that include forex pairs, precious metals, crude oil, indices and cryptocurrency CFDs.

Traders have a choice between three account types, namely an STD Account, ECN Account and a PRO Account. The STD account offers ultra-fast trade execution speed and low spreads and is suited for a beginner or an experienced trader.

The ECN account offers some of the lowest possible spreads available with a small commission of $3 per lot payable per side. This is the most popular account with EC Markets.

The PRO Account has no commission and any account charges. This account was built for day traders, scalpers and expert advisors.

Cooperating with numerous banks and liquidity providers, EC Markets offers spreads that are among the lowest on the market. Because of its low-latency enterprise-level servers, the broker can execute orders more quickly and provide you better trading pricing. For popular forex pairs, the spread might be as little as 0.0 pips.

Funding an account is easy and EC Markets offer most of the payment methods available like UnionPay, OTS365, tether, bank wire transfer and POLi, to mention a few.

All the account types use the MetaTrader4 platform which is available on desktop, web and all android and iOS devices.

EC Markets global research team provides daily real-time news of the global markets and allows investors to find investment opportunities easily. It also has an economic calendar available the provides real-time macro-economic data.

EC Markets also provides some educational tools to assist traders. Besides the option to open a demo account, it has a comprehensive glossary and offers interactive course, covering everything from how the markets work to complex technical strategies.

Overall, EC Markets offers a wide range of trading instruments, multiple account types, and various deposit and withdrawal options. The platform also provides sufficient educational resources to assist beginner and novice traders.