IFX Brokers vs. FXCM

IFX Brokers vs FXCM

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

Which offers better pricing – IFX Brokers or FXCM?

IFX Brokers offers tighter spreads on average than Khwezi Trade, when comparing the EUR/USD currency pair. IFX Brokers offers an average spread of 0.2 pips, while FXCM offers an average spread of 1.4 pips for the same currency pair.

Both traders charge commissions depending on the account type.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers and FXCM are both regulated Forex brokers. IFX Brokers is a South African broker that is regulated by the Financial Sector Conduct Authority (FSCA), which is the primary regulator of the financial markets in South Africa.

FXCM is an international Forex broker which has been in operation since 1999 and which is headquartered in New York. FXCM is regulated in several international jurisdictions by top tier regulators including ASIC, the FCA and the IIROC, as well as by the FSCA in South Africa.

As such, both brokers offer a high degree of security in a regulated trading environment, though FXCM holds international regulatory licenses as well.

Which broker offers the superior trading platform?

IFX Brokers provides traders with access to the full suite of trading platforms from MetaQuotes, comprised of MetaTrader 4 and MetaTrader 5. This provides traders with access to some of the most popular trading platforms on the market, which are suitable for both beginner and advanced traders.

FXCM offers only MT4 from the MetaQuotes offering. That said, the broker also provides access to an advanced proprietary platform with a wealth of trading features, as well as ZuluTrade for comprehensive automated trading and analytical capabilities.

Do these traders both offer MetaTrader?

Yes, IFX Brokers offers MetaTrader 4 and MetaTrader 5, consisting of the full suite of powerful platforms offered by MetaQuotes, while FXCM offers MetaTrader 4, but not MetaTrader 5 as offered by IFX Brokers.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers decidedly more currency pairs than that offered by FXCM. IFX Brokers offers traders access to 60 currency pairs, while FXCM offers access to 42 currency pairs, although both traders offer the same range of major currency pairs.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is required to comply with all of the FSCA’s regulations in their entirety.

This institution has a solid footing as the principal financial regulator for South African markets and has a positive reputation on a global scale. It holds a powerful position as the primary regulator for South African markets.

On April 1, 2018, the Financial Sector Conduct Authority (FSCA), also known as the dedicated market conduct authority that was known as the Financial Services Board (FSB), which was established by the Financial Sector Regulation Act 9 of 2017 (the FSR Act), replaced the Financial Services Board (FSB). The FSCA was established to become a dedicated market conduct authority.

Is it safe to trade with FXCM?

Yes, the companies that comprise the FXCM group are, without a doubt, subject to regulation in a number of different jurisdictions. The FXCM group of companies (collectively referred to as the “FXCM Group”) is an outspoken supporter of the need for increased investor protection and regulation of the foreign exchange market.

The FXCM Group’s companies are registered with and regulated by a large number of the world’s most reputable regulatory bodies.

Who is IFX Brokers?

Contracts for Difference (CFDs) and trading facilities on shares, foreign exchange (FX), commodities, cryptocurrencies, exchange-traded funds (ETFs), options, and indices are some of the services offered by IFX Brokers, which cater to a global market.

IFX Brokers is a reliable broker with a solid reputation. IFX Brokers is an innovative online trading broker that has its headquarters in South Africa and provides its customers with cutting-edge technologies.

A one-stop trading and investing experience is made possible for private and institutional customers by IFX Brokers.

This is accomplished by supplying customers with the highly developed MetaTrader 4 and MetaTrader 5 platforms, which enable online trading of more than 200 instruments spanning six different asset classes.

IFX Brokers is subject to oversight by the Financial Sector Conduct Authority, and the organization keeps all client monies in accounts that are kept entirely separate from business funds. The availability of additional preventative measures, such as protection against negative balances, is made possible for the purpose of keeping their customers’ money safe.

Standard Accounts, Premium Accounts, VIP Accounts, Islamic Accounts, Swap-Free Accounts, and Cent plus Demo Accounts are the six distinct account categories that may be opened with IFX Brokers.

Both MetaTrader trading platforms are made available to traders by IFX Brokers. Both MetaTrader 4 and MetaTrader 5 are accessible through each of the account types, with the exception of the Demo and Cent choices.

Traders who use IFX Brokers can anticipate Spreads in the range of 0.5 to 1.6 pips along with commission-free trading across the majority of account options. The IFX VIP account, on the other hand, comes with a commission amount of $6 USD.

Swap fees are applied to all accounts, including Standard, Premium, and VIP, and the required minimum deposit varies from ten dollars to one thousand dollars US. There are no deposit fees that apply.

In general, IFX Brokers can be summed up as a reputable and trustworthy broker. Their reputation is excellent.

Who is FXCM?

High-volume traders that value having access to a diverse selection of trading platforms and a comprehensive toolkit for advanced trading may be interested in FXCM.

FXCM is a broker that is well-regulated and offers an average number of financial instruments in comparison to other brokers. These financial instruments include Forex, commodities, indices, share CFDs, and cryptocurrencies.

The single account offered by FXCM requires a minimum deposit of fifty dollars (USD) and has spreads on average of twenty basis points (pips) greater than those offered by other brokers.

Customers who have a monthly notional trading volume that is greater than ten million US dollars are eligible for rebates, dedicated customer support, free virtual private server (VPS) services, and free access to numerous APIs.

FXCM offers a variety of trading platforms, some of which are MT4, NinjaTrader, many advanced specialist platforms, and Trading Station, the company’s award-winning proprietary platform.

In addition to this, it provides a multitude of trading tools, such as a variety of API trading tools, TradingView, Zulutrade, and a whole host of FXCM apps.

FXCM only provides one live account, which is a disadvantage when compared to other brokers; however, this live account is well-suited for novice traders.

FXCM is a market maker, and as such, it allows customers to trade different assets, such as foreign currency (Forex), cryptocurrencies, indices, commodities, shares, and Forex baskets and share baskets.

Trading foreign exchange and contracts for difference can be done using a single live account that is free of commission fees with FXCM.

However, traders who deposit a greater minimum amount are eligible to participate in the Active Trader Programme, which entitles traders to monthly rebates that are calculated based on the volume of trades they conduct.

FXCM accepts all trading strategies, including hedging, scalping, and copy trading, and provides support for the MT4, Ninjatrader, and Trading Station platforms in addition to Zulutrade. FXCM also provides clients with the option of swap-free Islamic accounts.