IFX Brokers vs. JP Markets

IFX Brokers vs JP 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 JP Markets.

Which offers better pricing – IFX Brokers or JP Markets?

IFX Brokers far exceeds JP Markets in terms of its pricing offer, with 0.2 pips averaging on the EUR/USD against JP Markets’ 2 pips for the same currency pair. As such, IFX Brokers offers truly tight spreads on Forex trading.

Both IFX Brokers and JP Markets charge commission on the trades of certain assets, though again, IFX Brokers comes out ahead in terms of its pricing in this category. IFX Brokers charges a commission of $6 per lot on its VIP Account, while JP Markets charges a commission of $10.

Which broker offers more security when trading Forex and CFDs?

Both IFX Brokers and JP Markets are South African Forex brokers which are regulated by the Financial Sector Conduct Authority (FSCA), which is the primary regulator of the financial markets in South Africa which works to promote healthy competition and operational transparency.

That said, a liquidation order was brought against JP Markets by the FMA, however the court ultimately set this liquidation order aside.

Which broker offers the superior trading platform?

IFX Brokers offers both MetaTrader 4 and MetaTrader 5, which amounts to the full suite from MetaQuotes and the most popular trading platforms on the market. JP Markets offers MT4 as well, but does not offer MetaTrader 5, which is a great upgrade for advanced traders.

Do these traders both offer MetaTrader?

Yes, IFX Brokers offers MetaTrader 4 and MetaTrader 5, consisting of the full suite of powerful platforms offered by MetaQuotes, while JP Markets offers MetaTrader 4, but not MetaTrader 5 as offered by IFX Brokers.

This is a pity, as MetaTrader 5 is an excellent option for more advanced traders and those looking for slightly more customisability.

How many Forex pairs can I expect from these brokers?

IFX Brokers exceeds JP Markets in this category. IFX Brokers offers traders with access to 60 currency pairs, while JP Markets provides traders with access to only 30 currency pairs.

That said, both brokers offer the same majors to traders. However, IFX Brokers offers access to majors at far tighter spreads on average than that offered by JP Markets.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is fully regulated by the The Financial Sector Conduct Authority (FSCA), which was established by the Financial Sector Regulation Act 9 of 2017 (the FSR Act) to become a dedicated market conduct authority replacing the Financial Services Board (FSB), on 1 April 2018.

This organisation is the leading financial regulator of the South African markets, and is well-regarded internationally.

Is it safe to trade with JP Markets?

Yes, The FSCA of South Africa has granted JP Markets a license and oversees the broker’s operations under the number FSP 46855. JP Markets applies rigorous criteria to its service offerings because the quality is of equal importance to both the company and its customers.

Your funds are always protected here, and JP Markets complies with the requirements of its overseers by keeping them in a separate banking account. Your monetary assets are protected at all times.

A client’s account will never be allowed to have a negative balance because of the automatic transaction monitoring and risk management system that is used.

Who is IFX Brokers?

IFX Brokers is an internet trading broker that operates out of South Africa and was founded there. The company’s guiding principles, which also serve as the organization’s core values, are commitment, transparency, and trust in all dealings with customers.

The cutting-edge MetaTrader 4 trading platform, which enables online trading of a variety of financial products, is made available to customers of the company, who can then take advantage of the one-stop trading and investing experience that the company provides for private and institutional traders.

Forex, indices, commodities, energy metals, and futures are just some of the items that fall under this category.

Customers of IFX have the option of selecting from three different trading account types: the standard IFX account, the Raw IFX account, or the Islamic IFX account. In addition to that, you have the opportunity to set up a test account for yourself.

Each of these accounts is powered by the full trading platform features that are provided by the broker, and they each have access to sixty different currency pairs, gold and silver, oil and natural gas.

Because of these characteristics, the accounts are able to satisfy a wide range of trading requirements.

The IFX Islamic account is a swap-free account that does not charge any interest, riba, or fees of any kind. In addition, there are no interest or riba charges.

The term “no interest” refers to the absence of the customary swap costs that are normally charged to positions that are held overnight or over the weekend.

Due to the fact that the IFX platform is hosted at the Equinix NY4 data center, users of IFX have access to nearly an infinite number of Virtual Private Server (VPS) possibilities.

Forex traders who use virtual private servers have access to a number of important perks, one of the most important of which is the ability to run automated algorithmic methods and access professional advisors virtually around the clock on a virtual computer.

In a nutshell, the servers are able to access multiple liquidity sources because they continually process the live interbank spread quotations while utilizing technology that is multi-tiered and offers the best bid and offer.

This combination of factors enables the servers to gain access to multiple liquidity sources. As a direct result of this, as soon as you execute a trade, it will immediately be connected to the current liquidity provider that is providing the best pricing at the lowest possible cost.

In exchange, IFX guarantees that its customers will experience the lowest possible latency as well as the fastest possible execution speeds, which are only able to be matched by a select group of investment banks and large hedge funds.

Who is JP Markets?

Traders can take advantage of JP Markets’ financial services and investment solutions, all of which are individualized to meet the specific requirements of each customer.

JP Markets is a foreign exchange (Forex) broker that has been in business in South Africa since 2016. It was founded by a businessman from the community who had a profound familiarity with global financial markets.

In addition to providing local and international traders with access to trading capabilities, JP Markets is committed to developing long-term partnerships.

Considering the fact that an educated trader is a successful trader, this is accomplished by making investments in the training of traders.

The headquarters of JP Markets are located in South Africa, and the company has operations in a number of other countries. JP Markets offers trading options on a Straight Through Processing (STP) basis for foreign exchange (Forex), metals, and other assets.