IFX Brokers vs GO Markets

IFX Brokers vs. GO Markets

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

Which offers better pricing – IFX Brokers or GO Markets?

IFX Brokers offers tight spreads of 0.2 pips for the EUR/USD currency pair, which are very competitive. GO Markets also offers tight spreads which starts lower than IFX Brokers at 0.1 pips for the EUR/USD currency pair.

Where IFX Brokers don’t charge commission, GO Markets charge $6 per trading lot.

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.

GO Markets was founded in 2006 and was originally based in Australia. Today its head office is found in Mauritius and it is authorized and licensed by the Financial Services Commission (FSC) of Mauritius. In addition, it is also regulated Australia Securities and Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). Thus, GO Markets can be trusted by traders in South Africa.

Which broker offers the superior trading platform?

MetaTrader 4 and MetaTrader 5, two of the top trading platforms available, are available through IFX Brokers as well as GO Markets. This means traders will have convenient access to numerous resources, a broad selection of trading tools, and lightning-fast trade execution.

Do these brokers both offer MetaTrader?

Yes, IFX Brokers and GO Markets offers access to both the MT4 and MT5 platforms.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while GO Markets only provides access to 49 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 GO Markets?

Traders in South Africa can safely trade with GO Markets although the company is not regulated by the FSCA in South Africa. It is however, regulated through the ASIC, CySEC and the FSC in Mauritius. Local trader can trade in full deposit security and a transparent trading environment.

Who is IFX Brokers?

IFX Brokers, a South African Forex broker, is well-regulated and has a large client base. Customers of IFX brokers can access the world’s most popular and profitable trading platforms, MetaTrader 4 and MetaTrader 5.

These systems have improved charting features, cutting-edge order management programmes, and a bilingual user interface that allows charts to be laid out in a variety of ways.

MetaTrader 4 or 5 can easily be utilised on iOS and Android devices without the need for additional software.

Customers of IFX Brokers have access to a wide range of trading products. Currency, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies are examples of financial goods.

IFX clients can also trade in 60 currency pairings, precious metals (gold, silver, platinum, and palladium), natural gas, and oil.

The smallest transaction value is 0.01 lot, however a regular account requires a $100 deposit in US currency. The account basis currencies are the South African Rand, US Dollars, and Euros, in that order.

Instead of an actual account, you can use a “practise account.”

Customers of IFX brokers can simply fund and withdraw funds from their accounts by utilising Pay Quick, Visa, or MasterCard credit cards, among other alternatives.

The nicest part about it is that there are no fees for deposits or withdrawals. For South African customers, the withdrawal process can be completed in as little as two to five hours.

Customers outside of the country, on the other hand, must wait four to five business days to complete the withdrawal process.

Who is GO Markets?

Overall, GO Markets is a well-regulated broker, that will appeal to traders looking for a simple account structure and a broad range of trading tools on the MT4 and MT5 platforms.

GO Markets currently offers spread-based and commission-based trading accounts with more than 600+ tradeable CFD instruments including forex, indices, shares, metals, commodities, and cryptocurrencies.

GO Markets was the first MT4 broker in Australia. Since then, the company has expanded its range of trading platforms to include MT5, mobile trading, and a web-based platform. GO Markets headquarters in Mauritius and also has offices in London, Taiwan, Melbourne, and Hong Kong.

GO Markets offers two primary account types, each with its own distinct trading conditions and the purpose of providing traders with a dynamic trading experience and environment along with the best pricing schedule. GO Markets’ accounts are available to traders in a variety of countries around the world. On a normal account, the most significant cost comes from the spreads.

Spreads for the commission-free Standard Account begin at 1 pip (EUR/USD), while spreads for the GO Plus+ ECN Account are 0 pip in exchange for a 6 USD commission (round turn). The $200 minimum deposit for both accounts makes them affordable for new traders.

You can use the Client Portal, credit cards, Bank Transfer, Poli, Fasapay, and BPAY to make deposits, withdrawals, and internal transactions at GO Markets. For any of the accepted payment methods, the broker does not charge a deposit fee.

Forms submitted for withdrawals before 13:00 AEST will be handled that day. Later forms might not be processed until the following business day. There are no internal costs for withdrawals at GO Markets, but there can be bank fees for withdrawals to non-Australian banking institutions.

In addition to offering complete support for MT4 and MT5, GO Markets also offers a wide range of trading tools. These consist of the Myfxbook copy-trading service, Autochartist, MetaTrader Genesis, Trading Central, a-Quant, and a free VPS service. Live account holders can access the majority of these tools without charge.

To ensure that their clients are as well-informed as possible before trading the currency markets, GO Markets also offers market analysis and education to their clients. One of the greatest ways to experience the genuine trading environment is with a Forex demo account from GO Markets, which also comes with a full library of instructional resources, including video lessons.

Additionally, GO Markets has a Forex Education Centre where you may learn both fundamental and sophisticated aspects of trading. Live webinars are used to offer additional educational programs and training events.

Traders can also sign up for a newsletter and daily commentary to receive daily market news and monthly newsletters, delivered directly to their inbox.

A downloadable Forex Smart Guide gives you a greater level of transparency into trading CFDs and Forex.

GO Markets has received a couple of awards since its inception, such as being rated first for customer service in 2019 and 2020 and their educational programs achieved the highest satisfaction award for the past three years since 2019.