IFX Brokers vs. FBS

IFX Brokers vs FBS

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

Which offers better pricing – IFX Brokers or FBS?

FBS comes out slightly ahead of IFX Brokers in terms of its pricing, offering an average spread of 0.01 pips on the EUR/USD currency pair as opposed to 0.2 pips offered by IFX Brokers for the same currency pair.

Both brokers offer tight spreads on the whole, and both brokers charge commission for trading Forex.

Which broker offers more security when trading Forex and CFDs?

While IFX Brokers and FBS are both regulated brokers, FBS is a globally operational online Forex broker which is regulated by several leading international regulatory entities.

IFX Brokers is a South African broker which caters to domestic and regional traders, and is regulated by the Financial Sector Conduct Authority (FSCA), which is the leading financial regulator in South Africa, offering traders a high degree of security and transparency.

FBS is a Russian forex and CFD broker that was established in 2009 and is regulated by the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. All three of these regulatory agencies are located in their respective home countries.

As such, both brokers offer a high level of trading security as fully regulated entities, with IFX Brokers being a regulated South African broker with a regional focus.

Which broker offers the superior trading platform?

The whole range of trading platforms from MetaQuotes, including MetaTrader 4 and MetaTrader 5, is made available to traders through IFX Brokers.

This gives traders access to some of the most prominent trading platforms available on the market, systems that are suited for traders of all experience levels, from novice to expert.

In addition to its own trading software, FBS supports MetaTrader 4 and MetaTrader 5, and the company also provides a respectable copy trading platform in addition to a virtual private server (VPS) service for traders who deposit more than 450 US dollars.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and FBS provide access to MT4 and MT5, comprising the full suite of trading platforms from MetaQuotes.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers 60 Forex currency pairs, while FBS offers access to 50 currency pairs, so that traders will have access to a greater range of currency pairs when trading with IFX Brokers.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers must follow the FSCA’s rules to the letter.

This organization is well-established and widely respected as South Africa’s primary financial regulator. It is in a strong position as the major regulator of the South African markets.

Is it safe to trade with FBS?

Even though FBS has a license from the FSCA in South Africa, any South African individuals who trade with FBS’ subsidiary in Belize will not be afforded any form of local protection in the event of a dispute.

In addition to this, South African traders are not granted any protection from having a negative balance. FBS is not required by the IFSC to provide negative balance protection, which means that traders can end up owing money to the broker.

Although the IFSC requires brokers to keep client funds in separate accounts and issue monthly statements to their clients, the IFSC does not require brokers to provide negative balance protection. In addition, the IFSC does not mandate that FBS limit leverage in order to safeguard its traders.

Who is IFX Brokers?

Within the realm of the foreign exchange industry, IFX Brokers is recognized as a reliable and trustworthy broker.

IFX Brokers is a client-focused online trading broker that thinks ahead of the curve and provides its customers with innovative solutions. The company’s administrative offices are situated in South Africa, although it provides its products and services to customers located in a variety of countries.

IFX Brokers provides a trading and investment experience that can be completed in a single spot for both private and institutional clients. This service is available in a single location.

This is made possible for users by the highly developed MetaTrader 4 and MetaTrader 5 platforms, which offer online trading of over 200 instruments across six distinct asset classes. This is made possible for users by the provision of these platforms.

IFX Brokers is subject to regulation by the Financial Sector Conduct Authority, and the company holds all customer funds in accounts that are kept completely separate from business funds. IFX Brokers is also regulated by the Financial Sector Conduct Authority.

Additionally, the Financial Sector Conduct Authority is responsible for monitoring IFX Brokers’ activities. Protection against negative balances is one example of the additional preventative measures that can be made accessible to clients so that the businesses can fulfill their responsibility to keep their customers’ money safe.

When working with IFX Brokers, customers have the option of opening one of a total of six different types of accounts. These account kinds include Standard Accounts, Premium Accounts, VIP Accounts, Islamic Accounts, and Swap-Free Accounts.

Standard Accounts are the most basic type of account. Premium Accounts are the next step up. Demo accounts for cent plus are also accessible to use.

When a trader opens an account with IFX Brokers, he or she immediately gains access to both of the MetaTrader trading platforms.

Each of the account types, with the exception of the Demo and Cent options, gives customers access to either the MetaTrader 4 or the MetaTrader 5 trading platform. The Demo option is the only exception.

Traders who utilize IFX Brokers can anticipate Spreads in the range of 0.5 to 1.6 pips in addition to commission-free trading across the majority of account options.

This is a significant advantage. Traders that participate in the foreign exchange market are eligible to receive these rewards. On the other hand, the IFX VIP account carries a commission cost that is comparable to six dollars in United States currency.

Who is FBS?

FBS is a well-regulated international broker that offers a wide variety of accounts, such as a specialized cryptocurrency account and a low-cost entry-level account. In addition, FBS offers over 100 cryptocurrency pairs, an easy-to-use mobile trading software, and a wide range of cryptocurrencies to trade.

Traders in South Africa, on the other hand, need to be aware that despite the fact that FBS is authorized by the South African Financial Services Conduct Authority (FSCA), they will be onboarded through FBS’ Belize-based business, which offers a lower level of regulatory control.

Beginner traders will find a warm welcome at FBS, which also offers an extensive library of instructional and market analysis resources and customer service that is available around the clock.

FBS is unique among brokers in that it provides clients with a choice of six distinct account kinds, whereas the majority of brokers provide clients with only three or fewer account types.

On three of its accounts, trading expenses are much lower than average, whereas on the other three accounts, trading costs are significantly higher than usual. All accounts have a separate minimum deposit requirement.

On its website, FBS advertises a variety of different bonuses and promotions for customers to take advantage of. For instance, the broker provides a deposit bonus of one hundred percent, which doubles the amount of money that may be used for trading. For additional information, kindly refer to the website.