IFX Brokers vs. IG

IFX Brokers vs. IG

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

Which offers better pricing – IFX Brokers or IG?

IFX brokers fares slightly better than IG in terms of its pricing, with an average spread of 0.2 pips against IG’s 0.9 pips for the EUR/USD currency pair.

Neither IG nor IFX Brokers charges for deposits, while both brokers charge commission depending on the account type and the asset or instrument being traded.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers and IG are both well-regulated brokers that provide a high level of security when trading Forex and CFDs.

IG is an extremely well-regulated Forex broker which has a high level of standing in the Forex trading industry. Having been in operation since 1974, today IG is regulated by several top tier regulators, including ASIC, the FSA, FINMA, the FCA, and CFTC, as well as the FSCA in South Africa.

IFX Brokers is a South African-focused Forex broker which is regulated by the FSCA, the country’s primary financial regulator, and offers South African and other regional clients an excellent level of safety and security when trading Forex and CFDs.

Which broker offers the superior trading platform?

IFX Brokers provides traders with access to both MetaTrader 4 and MetaTrader 5, comprising an award-winning platform offering that enjoys a high level of popularity in the Forex trading community.

IG falls behind IFX Brokers in terms of its MetaTrader offering, as IG only offers access to MT4. That said, IG offers an excellent propriety trading platform, which has enjoyed immensely popular feedback from users to date.

Do these brokers both offer MetaTrader?

Yes, both IG and IFX Brokers offer MetaTrader, although IFX Brokers offers both MT4 and MT5, while IG only offers MT4.

How many Forex pairs can I expect from these brokers?

IG exceeds IFX Brokers in terms of the number of Forex pairs offered. IFX Brokers offers traders with access to 60 currency pairs, while IG offers 100 currency pairs.

That said, both brokers offer the same selection of majors, so that traders will likely get a greater level of access to minors and exotics from IG.

Is it safe to trade with IFX Brokers?

For South African traders, creating an account with IFX Brokers is not only possible but also fully risk-free because the Financial Sector Conduct Authority (FSCA) controls them in every imaginable way. This organization is the primary watchdog over the country’s financial markets.

IFX Brokers offers a risk-free, open, and secure trading environment. It’s because FSCA-authorized brokers are supposed to keep all trader funds separate from their own, and consumers who aren’t satisfied can file a complaint with the Ombudsman if they’re unhappy with their broker’s service.

Is it safe to trade with IG?

Yes, IG has been in operation since 1974 and has garnered a high level of regard for the many decades in which it has been offering its services.

IG is well-regulated by several top tier regulators, including ASIC, the FSA, the MAS, FINMA, the FCA, and the CFTC in the US. IG is also regulated in South Africa by the FSCA, making it an extremely secure broker with which to trade.

Who is IFX Brokers?

IFX Brokers is a forex brokerage registered in South Africa. It gives the MT4 and MT5 trading terminal and a very generous leverage of up to 1:500.

Furthermore, there is a large choice of trading assets from which to choose and a needed minimum deposit of $100 which is approximately the industry average.

The company behind the brokerage is registered in South Africa by the name IFX Brokers Holdings (Pty) Ltd. Furthermore, the brokerage says that it is under the regulatory oversight of the local FSCA.

The segregation of accounts is among the principles which are extremely significant in the trading industry, because it drastically minimizes the risk of probable commingling.

Another is the involvement in a compensating arrangement by which the client’s losses will be repaid in the unlikely scenario the broker goes bankrupt or seeks to scam traders.

IFX Brokers gives you the option to choose from a variety of trading accounts that have been tailored especially to match your requirements.

It goes without saying that they provide actual trading accounts, but in addition to that, they accommodate inexperienced traders by providing an IFX Demo Account.

The broker gives their customers the opportunity to trade in foreign currency, indices, contracts for difference (CFDs), spot metals, energy, commodities, and cryptocurrencies.

60 different currency pairs are available with IFX Brokers, in addition to gold, silver, platinum, and palladium; oil; and natural gas.

IFX Brokers provides a significant amount of educational content through a division that they refer to as IFX Academy. In this section of the website, IFX provides educational materials that are accessible to users at all levels, from novices to those with more experience.

You will receive all of the course materials and assignments in an electronic format, and it is up to you to determine the pace at which you will finish the modules.

Who is IG?

IG is one of the most prominent providers of online trading, and it gives investors access to chances in thousands of different financial markets through user-friendly platforms and mobile applications.

Both the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority have granted IG their authorization and regulation respectively.

The IG Group may be summed up as a reliable broker that offers trading settings that are favorable to users and high-quality educational resources.

It is possible to view this choice as one with a low level of risk, making it a good choice for experienced traders.

The IG Trading Platform is an in-house trading platform that may be utilized for market research, the placement of trades, the monitoring of trades, and the editing of trades.

Users of IG have access to a diverse range of platforms, such as desktop platforms, trading apps, web-based platforms, and third-party programs such as MT4, ProRealTime, and APIs.

Users can select the platform that best suits their needs. Despite this, the IG proprietary Trading Platform is still considered to be the best option.

The Platform comes equipped with a user-friendly deal ticket, intelligent charting, News and Analysis, IG Live, Alerts, Signals, and the Option to Customize Itself.

IG makes its own mobile applications, which are compatible with iOS and Android and can even be loaded on tablets. Standard features include of individualized watchlists, price alerts, and technical charting, among other things.

Although the indication list is sufficient, it is not included in the menu structure, which reduces its accessibility. Although the Trade menu does not offer complex conditional orders, clients in the United Kingdom are able to make guaranteed stop loss orders.

The apps cannot be customized, but they do provide security via Touch ID and Face ID, and they are more advanced than the MT4 mobile app, which is the industry standard.

It should come as no surprise that IG is a global leader in online trading and is currently ranked as the world’s top CFD provider.

IG has over 178,000 clients across five continents, an extensive product catalogue, competitive fees, longstanding business operations, and an excellent industry reputation.