IFX Brokers vs EXT LTD

Overall Comparison

FEATURE

IFX Brokers

EXT LTD

General comparison

4/5

3/5

Regulation

5/5

4/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

3/5

Trading Apps

4/5

3/5

Analytical Tools

4/5

1/5

Educational Resources

5/5

1/5

Trust Score

93

65

Best in class

x

 

Regulation Comparison

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IFX Brokers

EXT LTD

Trust score

93

65

Year Founded

2018

2012

Publically Traded

No

No

Licensed in South Africa

Yes

No

Assets Comparison

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IFX Brokers

EXT LTD

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

50

US Stock Trading

No

Yes

International Stock Trading

No

Yes

Cryptocurrency CFDs

Yes

No

Fees Comparison

FEATURE

IFX Brokers

EXT LTD

Average Spread for EUR/USD

0.2 pips

0.3 pips

Commissions Charged

Yes

Yes on most transactions

ECN Execution

Yes

Yes

Market Maker Execution

No

No

Deposit Options Comparison

FEATURE

IFX Brokers

EXT LTD

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

No

PayPal

No

No

Skrill

Yes

No

Minimum Deposit

$100

€10 000

Trading Platforms Comparison

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IFX Brokers

EXT LTD

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

No

MetaTrader 4

Yes

No

MetaTrader 5

Yes

No

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

Yes

Analytical Tools Comparison

FEATURE

IFX Brokers

EXT LTD

Economic Calendar

Yes

No

Social Sentiment

Yes

No

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

No

Daily Market Commentary

Yes

No

Educational Resources Comparison

FEATURE

IFX Brokers

EXT LTD

Offers education

Yes

No

Webinars

Yes

No

Beginner training videos

Yes

No

Advanced training videos

Yes

No

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

EXT LTD

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. EXT LTD

We spent many hours thoroughly examining the best-in-class Forex brokers for 2024. Here, we take a closer look at IFX Brokers and EXT LTD.

 

Which offers better pricing – IFX Brokers or EXT LTD?

IFX Brokers and EXT LTD both offer competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency. EXT LTD offers an average spread of 0.3 pips on the same EUR/USD currency pair.

IFX Brokers charges competitive commissions of USD6 per round turn, while EXT LTD also charge commission on its trades but the website is not transparent on how much commission is charged.

 

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.

EXT LTD is a European investment services company registered at Cyprus and regulated through the Cyprus Securities and Exchange Commission (CySEC). EXT LTD falls under European Securities and Markets Authority (ESMA) regulation hence ensuring a highest degree of investors protection.

In addition, EXT LTD is also regulated by the Market in Financial Instruments Directive (MiFID) which is an EU directive and sets forth the requirements for the entire European financial sector with the aim of introducing a single European market of financial instruments.

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.

EXT LTD on the other hand offers trading only on its own proprietary platform.  

 

Do these brokers both offer MetaTrader?

IFX Brokers offers access to both MetaTrader4 and MetaTrader5. EXT LTD does not offer trading on either the MT4 or MT5 platforms, but offers trading on its own in-house trading platform.

 

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, whereas EXT LTD offers access to 50 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 EXT LTD?

EXT LTD is incorporated as a Limited Liability Company in the Republic of Cyprus, with the registration number HE 293592. Being an investment firm, the broker is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Since it operates mostly in the European markets, EXT LTD also falls under The Market in Financial Instruments Directive (MiFID). In order to establish a unified European market for financial instruments, the MiFID lays out the requirements for the whole European financial sector.

EXT LTD provides investment services in following third countries: Belize, China, Hong Kong, Thailand, Kazakhstan, Ukraine, United Arab Emirates, Seychelles.

 

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 EXT LTD?

EXT LTD is a European investment services company that was founded in 2012. It used IT and financial specialists from all over the world to ensure the highest quality of fast, stable and reliable services. According to the broker’s website it is created by professionals for professionals and provides services to both retail and professional traders as well as to corporate clients.

It headquarters in Limassol, Cyprus. Being a Cypriot company, EXT LTD falls under the regulations of the Cyprus Securities and Exchange Commission (CySEC). EXT LTD falls under European Securities and Markets Authority (ESMA) regulation hence ensuring a highest degree of investors protection.

As an EU-regulated investment firm, the broker falls under the MiFID’s jurisdiction and has as such implemented all necessary legal requirements, protocols and policies to ensure full compliance with the directive. EXT ensures that transaction transparency is achieved in accordance with the MiFID and have necessary arrangements in place in order to meet the post-trade reporting obligations.

With EXT LTD, traders can trade in over 600 000+ financial products that include Stocks & ETFs, Forex currencies, Options, Funds, Metals, Futures and Bonds. This global multi-asset financial services are offered from a single multi-currency live account.

The minimum deposit amount to open an account is 10 000 EUR and if you are a corporation the minimum deposit is 50 000 EUR. This makes it quite impossible for a beginner trader to open an account with EXT LTD.

EXT LTD offers trading on only one trading platform, namely the in-house EXT platform. This platform works on every device, which means you can trade on the web, from a desktop Windows, macOS or Linux terminal, or directly on the go from your iOS or Android smartphone.

To algorithmic traders, EXT LTD offer the opportunity to trade via FIX API. It supports a FIX 4.4-based API that enables data transfer, quote retrieval and full-scale trading automation.

Although traders have the option to open a demo account, there are no other educational tools to assist, especially the beginner trader. No videos, webinars, or a glossary is available.

Another drawback is the total absence of any daily trading tools. No economic calendars, daily support, articles, calculators or commentary is available.

Overall, EXT LTD is a reliable broker with the necessary security in place. The offering is unfortunately limited and not much information is offered on the website.