IFX Brokers vs. GV Markets

IFX Brokers vs. GV 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. GV Markets.

Which offers better pricing – IFX Brokers or GV Markets?

Both IFX Brokers offer tight spreads, with IFX Brokers offering 0.2 pips on the EUR/USD and GV Markets offering 0.9 pips on the same currency pair. IFX Brokers charges affordable commissions, while GV Markets offers commission-free trading.

Which broker offers more security when trading Forex and CFDs?

South African foreign exchange brokers IFX Brokers and GlobeX360 are both completely regulated by the Financial Sector Conduct Authority. When it comes to trading Forex and CFDs, both brokers provide a high level of regulation and transparency for their customers.

Which broker offers the superior trading platform?

Both IFX Brokers and GV Markets are MetaTrader brokers. However, IFX Brokers offers the full MetaTrader suite consisting of both MT4 and MT5, while GV Markets only offers access to MT5.

As such, IFX Brokers offers the superior selection of trading platforms. This is due to the fact both beginner and advanced traders are catered to. MT4 is a great option for new traders with its user-friendly interface, while MT5 offers the advanced functionality favoured by experienced traders.

As such, with GV Markets, beginner traders may struggle to come to grips with the advanced trading features of the exclusively offered MT5 platform.

Do these brokers both offer MetaTrader?

Yes, Both IFX Brokers and GV Markets are MetaTrader brokers. However, IFX Brokers offers the full MetaQuotes suite, while GV Markets only offers MetaTrader 5.

How many Forex pairs can I expect from these brokers?

IFX Brokers provides access to 60 currency pairs, while GV Markets provides traders with access to 80 currency pairs. Both brokers provide the same range of majors, so that GV Markets will have slightly more diversity with regards to minors and exotics.

Is it safe to trade with IFX Brokers?

The Financial Sector Conduct Authority (FSCA), which is the major regulator of the financial markets in South Africa, does indeed completely regulate IFX Brokers, making it risk-free to trade on the markets.

Is it safe to trade with GV Markets?

Yes, GV Markets is also a financial services firm that has been registered with the Financial Sector Conduct Authority (FSCA) of South Africa and is regulated and certified by the FSCA.

In South Africa, the Financial Sector Conduct Authority (FSCA) is in charge of regulating the country’s various financial institutions.

The Financial Sector Conduct Authority’s (FSCA) mission is to improve and maintain the efficiency and integrity of financial markets, as well as to safeguard investors by fostering equitable treatment and delivering education on a variety of topics pertaining to finance.

Who is IFX Brokers?

With IFX Brokers, you may trade CFDs on more than 150 underlying assets, including major and minor currency pairs and the top five cryptocurrencies (including Bitcoin and Ethereum).

The Financial Sector Conduct Authority of South Africa has approved IFX Brokers as a regulated Crypto and Forex CFD broker (FSCA). They offer the popular MT4 or MT5 trading platform to their day traders and investors.

Trading apps are available for desktop computers and mobile devices. In contrast to the 500:1 leverage they enjoy on standard Forex trading, the CFDs they offer on cryptocurrencies have a margin rate of only 10:1.

For your convenience, IFX Brokers support the following currencies in your trading account: GBP, EUR, ZAR, and USD. To fund your account, you can use a credit card, ETFPay, or Ozow.

Wire transfers, credit cards, debit cards, and alternative payment methods including PayFast, iPAY, and PayU are all available to customers.

Depending on the type of account you have and the mode of payment you select, the minimum initial deposit might range from $100 to $250. The broker covers all deposit service charges.

Customers must utilize the same payment method that was used to fund their trading account when withdrawing funds.

Credit card deposits are limited to a maximum withdrawal of the initial deposit amount. If you need to make a withdrawal that is larger than that amount, you will need to switch to a different withdrawal option.

If you make a withdrawal from your account within the first sixty days after funding it with a credit card, you’ll only be able to use the credit card that you originally used to make the deposit.

Who is GV Markets?

Retail and institutional traders alike are supported at GV Markets, a forex and CFD broker based in South Africa.

Traders can access some of the greatest liquidity providers in the country through GV Markets, a STP brokerage that operates under a No-Dealing Desk trading style and takes pride in its impeccable reputation.

Traders at GV Markets have access to a vast selection of securities from a variety of asset types. As one of the most widely used and powerful trading platforms available, MetaTrader 5 gives investors access to a wide variety of tradable instruments.

In addition to a healthy selection of asset types, traders also have access to cutting-edge trading tools, and the company’s marketing department is working on expanding the available training resources.

Access to a Forex calendar, multiple trading calculators, and an extensive affiliate network are all available to you at GV Markets.

To demonstrate its dedication to offering professional trading services supported by world-class advantages is a top priority for GV Markets.

Although GV Markets only provides a single account type, the standard account is packed with advanced features that make it suitable for both novice and experienced traders.

GV Markets is a trustworthy broker since it is licensed and authorized by the Financial Sector Conduct Authority (FSCA), which mandates that customer monies be kept in separate accounts.

When making deposits or withdrawals, traders can use safe and trustworthy options like Bank Wire Transfer or Secure Electronic Funds Transfer (EFT) through OZOW in South Africa, all of which are offered by GV Markets.

Traders’ deposits are processed without a fee or commission, however withdrawals are not free. Traders should expect varying spreads when using GV Markets, depending on the type of financial asset they choose to trade. However, the minimum EUR/USD spread with GV Markets is only 0.1 pips.

Traders should be aware that the mark-up applied to the spreads by GV Markets is enough to cover the broker’s cost for arranging the deal, despite the fact that GV Markets does not charge traders a commission.

There is a maximum leverage of 1:500 for regular retail traders at GV Markets. Regardless of the size of a trader’s initial deposit, leverage enables them to create larger positions in the market. Although the potential rewards for trading leveraged products like Forex are higher, the associated risks and losses are also higher. Because of this, many governing bodies limit access to leverage.

Traders with GV Markets have access to the widely used trading platform MetaTrader 5. Among brokers and traders, MetaTrader 5 is the standard. MetaTrader 5’s cutting-edge trading technology and robust set of additional features provide traders with a competitive edge.

At the present time, there is no training or education content available on the official GV Markets website. However, the GV Markets marketing team is hard at work developing the website to include an Education and a Help Centre.