IFX Brokers vs Global GT

IFX Brokers vs. Global GT

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

Which offers better pricing – IFX Brokers or Global GT?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. Global GT offers a spread of 1.4 pips, which is still very competitive.

IFX Brokers charge commission which apply on certain accounts. Global GT does not charge commission its account types with the exception of the ECN Account where it charges up to $6 on all forex asset classes, up to $5 for precious metals and 0.1% round –turn on al crypto asset classes.

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.

Global GT is fully regulated by The Financial Sector Conduct Authority (FSCA) in South Africa as well as the Financial Services Authority (FSA) Seychelles. It headquarters in South Africa. To make sure that client funds are deposited in reliable and highly regarded financial institutions, Global GT continues to forge strong partnerships with Tier 1 Banks.

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.

Global GT give users access to MetaTrader 5 which is available on various devices and supports manual and automated trading with the use of Expert Advisors (EA).

Do these brokers both offer MetaTrader?

IFX Brokers offers trading on MT4 and MT5 where Global GT only offer trading on MT5.

How many Forex pairs can I expect from these brokers?

Both brokers, IFX Brokers as well as Global GT offers trading in about 60 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 Global GT?

Yes, it is safe to trade with Global GT as the main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA) and the broker headquarters in Umhlanga, KwaZulu Natal. The company is also registered with FSA Seychelles as it forms part of 360 Degrees Markets.

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 Global GT?

Global GT is a fairly new international CFD established broker that officially started trading in 2019. It has however, been part of the known GT Group that successfully operates in South East Asia through the brands FXGt and CryptoGT. It has an expansion approach through an established operation in South Africa, since South Africa now is a growing trend in the Forex industry where more brokers open their entities due to good regulation, availability of high leverage, and a great way to global expansion.

Global GT is a registered company in South Africa that is regulated by the Financial Sector Conduct Authority (FCA) as well as the Seychelles Financial Services Authority (FSA). Global GT client funds are kept in segregated accounts with Tier-1 Banks. Furthermore, Clients at Global GT are ensured up to R10,000,000 ZAR and negative balance protection is made available.

The broker offers trading through 6 live accounts, namely Cent, Mini, Standard FX, Standard Plus, PRO, and ECN. For traders seeking high leverage (up to 1000) and other forms of pay-outs, Standard Plus is a good option. For traders who can execute their trading methods using minimal spreads and no commission when starting or closing positions, PRO is a better option.

Global GT offers trading in over 743 instruments that include 60 forex pairs, 32 cryptocurrencies, 11 synthetic cryptos, 5 NFT, 2 coins, 10 DeFis, 3 precious metals, 3 energies, 10 equity indices, and 54 stocks.

Global GT doesn’t charge commission as this are all built into spreads, with the exception of the ECN Account where the broker has a $6 commission fee for trading transactions. The broker proposes a floating spread or variable spread basis, where the spread is dependent on the market conditions. Overall, trading with Global GT will involve fees from $5, spreads from 0 pips, and commission-free trading depending on the account traders select. The minimum deposit required to open a Global GT Account is $5.

It does not seem as Global GT offer much educational content although it does offer a demo account and a fairly comprehensive FAQ section on various topics. Traders do have access to a Market Pulse section which includes Trader Insights, an Economic Calendar, and a Holiday Calendar which may be of use.