IFX Brokers vs. FXPrimus

IFX Brokers vs FXPrimus

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

Which offers better pricing – IFX Brokers or FXPrimus?

For the EUR/USD currency pair, IFX Brokers offers tighter spreads on average, starting at 0.2 pips, while FXPrimus has a wider spread requirement of 1.5 pips.

That said, FXPrimus does not charge any commission for trading on Forex, while IFX Brokers charges a commission of $6 on the VIP Account.

Which broker offers more security when trading Forex and CFDs?

While IFX Brokers and FXPrimus are both regulated brokers, FXPrimus 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.

FXPrimus is headquartered in Cyprus, and is regulated in the EU by the Cypress Securities and Exchange Commission (CySEC), as well as by the VFSC and by the FSCA in South Africa.

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.

FXPrimus also offers access to both MT4 and MT5, as well as the cTrader platform, which is an advanced form of trading software that is renowned for its navigable trading interface and its wealth of trading features.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and FXPrimus 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 a greater number of trading pairs than is offered by FXPrimus. IFX Brokers offers 60 currency pairs in total, while FXPrimus offers 43 currency pairs. Both brokers offer the same range of majors when trading Forex currency pairs.

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.

As of April 1, 2018, the Financial Sector Regulation Act 9 of 2017 (the FSR Act) replaced the Financial Services Board with the Financial Sector Conduct Body (FSCA), a dedicated market conduct authority formerly known as the Financial Services Board (FSB) (FSB). The Financial Services Competition Authority (FSCA) was set up to serve as a specialized regulator of the financial markets.

Is it safe to trade with FXPrimus?

Yes, trading with FXPrimus is completely risk-free. In spite of the fact that FXPrimus’s regulation is not as stringent as that of other brokers, the company does protect its customers from having their negative balances wiped out and keeps client funds separate from the company’s operating capital.

Even though global clients will be trading through FXPrimus’s Vanuatu-based business, which has less regulatory control than regulators in the UK or Australia, FXPrimus continues to maintain regulation from CySEC in Cyprus.

This is because the UK and Australia have stricter oversight than Vanuatu. In addition to this, FXPrimus keeps the money of its customers separate from the money of the company and offers insurance against negative balances to all traders.

FXPrimus is also regulated by the FSCA in South Africa.

Who is IFX Brokers?

IFX Brokers is a reputable and trustworthy broker in the foreign exchange market. IFX Brokers is a forward-thinking online trading broker that offers cutting-edge solutions to its clientele. Its headquarters are located in South Africa, and the company serves consumers all over the world.

For both private and institutional clients, IFX Brokers facilitates a trading and investing experience that can be completed in a single location.

This is made possible by providing users with the highly developed MetaTrader 4 and MetaTrader 5 platforms, which enable online trading of more than 200 instruments across six different asset classes.

IFX Brokers is subject to regulation by the Financial Sector Conduct Authority, and the company stores all customer funds in accounts that are kept fully separate from business funds. IFX Brokers is also subject to oversight by the Financial Sector Conduct Authority. In order to keep their customers’ money secure, it is made feasible for additional preventative measures, such as protection against negative balances, to be made available.

There are a total of six separate account categories that may be opened with IFX Brokers. These account types include Standard Accounts, Premium Accounts, VIP Accounts, Islamic Accounts, and Swap-Free Accounts. Cent plus Demo Accounts are also available.

Traders who open accounts with IFX Brokers get access to both of the MetaTrader trading platforms. With the exception of the Demo and Cent options, each of the account types grants users access to either the MetaTrader 4 or the MetaTrader 5 trading platform.

Traders who use IFX Brokers can anticipate Spreads in the region of 0.5 to 1.6 pips together with commission-free trading across the majority of account options. These benefits are available to traders who trade foreign exchange. On the other side, the IFX VIP account has a commission fee that is equivalent to $6 US Dollars.

Swap fees are charged to all accounts, including Standard, Premium, and VIP accounts, and the needed minimum deposit ranges from ten dollars to one thousand dollars United States dollars, depending on the type of account. The initial investment is completely free of charge.

In a nutshell, IFX Brokers can be summed up as a broker that has a solid reputation and can be relied on. Their standing in the community is very high.

Who is FXPrimus?

FXPrimus is well-known for its personalized customer assistance, free deposits and withdrawals, and provision of negative balance protection for all customers.

This is because the company places a significant emphasis on the satisfaction of its customers. On the other hand, the trading fees associated with its entry-level accounts are much more expensive compared to those of other brokers.

Trading platform support provided by FXPrimus, which includes MT4, MT5, and cTrader, is widely regarded as among the best in the business despite the company’s more well-known strengths, which include providing one of the quickest and safest online trading environments.

In addition, it provides a variety of trading tools, including as a FIX API, premium trader tools, and a VPS service that can be purchased for an additional fee.

Beginner traders can open an entry-level account with FXPrimus with a minimum deposit of 15 USD. Spreads on the EUR/USD average between 1.50 and 1.7 pips, which is greater than those offered by other brokers, but there are no commissions to pay with these accounts.

Its other accounts provide spreads that are quite competitive, which will attract to more experienced traders; nevertheless, the minimum deposits required for these accounts are larger.

FXPRIMUS is a multi-asset broker that allows trading on Forex, commodities, indices, share CFDS, and cryptocurrencies.

However, the amount of assets accessible to trade in each asset class is limited when compared to what is offered by other brokers. In addition, it lacks instructional and market analytical content, which compels traders to educate themselves independently using materials provided by other parties.