IFX Brokers vs. Quick Trade

IFX Brokers vs. QuickTrade

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

Which offers better pricing – IFX Brokers or QuickTrade?

Overall, IFX Brokers offer the superior pricing structure, with tight spreads averaging at 0.2 pips for the EUR/USD pair, while QuickTrade offers a higher spread of 1.2 pips on average for the same currency pair.

QuickTrade also generally charges higher commissions than that of IFX Brokers.

Which broker offers more security when trading Forex and CFDs?

Both QuickTrade and IFX Brokers are South African brokers regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.

The FSCA is the leading financial regulator in South Africa, offering traders a high degree of security and transparency.

Which broker offers the superior trading platform?

Both IFX Brokers and QuickTrade are MetaTrader Forex brokers. However, IFX Brokers offers both MT4 and MT5, while QuickTrade only offers MT5.

As such, IFX Brokers offers the superior trading platform selection as more trading styles and experience levels are supported with both MT4 and MT5. MT4 is generally regarded as the best trading platform for beginner to intermediate traders, and MT5 has additional inbuilt features that benefit advanced traders immensely.

With QuickTrade, beginner traders might struggle to come to grips with the more complex features of the MT5 trading platform, though the broker does offer an educational manual on how to use MT5.

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and QuickTrade are MetaTrader brokers, though IFX Brokers offers the full MetaQuotes suite, while QuickTrade only offers MetaTrader 5.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers 60 Forex currency pairs, while QuickTrade only provides in the region of 30 currency pairs, so that IFX Brokers offers the more diverse currency pair selection. However both traders do offer the same selection of major currency pairs.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a fully licenced and regulated South African Forex broker which is regulated by the FSCA, which is the primary regulator in the country, ensuring that traders are afforded transparent trading conditions and recourse to the Ombudsman in case of foul play.

Is it safe to trade with QuickTrade?

 Yes, QuickTrade is also a fully regulated broker operating under the auspices of the Financial Sector Conduct Authority (FSCA) in South Africa. QuickTrade is considered a safe and reliable Forex broker with transparent trading conditions.

Who is IFX Brokers?

IFX Brokers is renowned within the foreign exchange business as a dependable and trustworthy broker.

IFX Brokers is a client-focused, forward-thinking online trading broker that provides customers with innovative solutions. The company’s administrative headquarters are located in South Africa, despite the fact that it serves consumers in a number of different African nations.

MetaTrader 4 and MetaTrader 5 platforms, which provide online trading of over 200 instruments across six main asset classes, make this possible for users.

IFX Brokers is regulated by the Financial Sector Conduct Authority, and all customer monies are held in accounts that are fully separate from business funds. The Financial Sector Conduct Authority also regulates IFX Brokers.

Furthermore, the Financial Sector Conduct Authority is in charge of overseeing the activities of IFX Brokers.

One example of additional preventative measures that can be made available to clients so that businesses can fulfil their commitment to keep their customers’ money safe is protection against negative balances.

Customers dealing with IFX Brokers have the option of opening one of six distinct types of accounts. Standard Accounts, Premium Accounts, VIP Accounts, Islamic Accounts, and Swap-Free Accounts are among the account types available.

The most fundamental sort of account is the standard account. Premium Accounts are the next level of service. Demo accounts for cent plus are also available.

When a trader creates an account with IFX Brokers, he or she has immediate access to both MetaTrader trading platforms.

IFX Brokers traders may expect spreads ranging from 0.5 to 1.6 pips, as well as commission-free trading across the majority of account options.

This is a huge benefit. The IFX VIP account, on the other hand, has a commission cost that averages at six dollars per trade.

Who is QuickTrade?

Foreign exchange (FX) and contracts for difference (CFD) broker QuickTrade is based in South Africa. It has been approved and licensed by the relevant Financial Sector Conduct Authority in the country.

QuickTrade is a reputable FX and CFD broker in South Africa that complies with all the industry regulations and offers a wide range of trading alternatives. Traders, on the other hand, do not have the option of choosing either their trading accounts or their trading platforms.

Due to the large commission and other costs, QuickTrade does not have the most competitively priced fees in the business. In addition, there is a deficiency in educational opportunities and research, and there are no proprietary trading tools.

Despite this, QuickTrade provides safe and trustworthy means for funding accounts, and there are no costs associated with making deposits or withdrawals.

Over 30 currency pairs, including some exotic or small ones like USD/ZAR, as well as equities, ETFs, Brent, crude oil, Natural Gas, gold, silver, platinum, palladium, and 12 indices are available for trading on the QuickTrade platform.

A standard account is available, and it has a maximum leverage of 1:100. The EUR/USD spread begins at 1.2 pips. A demo account is available at QuickTrade.

The spread on forex trades begins at 1.2 pips and floats from there. This indicates that they are subject to change according to the circumstances of the market.

 For instance, if there is a lot of volatility in the market, the spreads will be a little bit greater, but they will never go lower than 1.2 pip.

It is also important to note that certain assets have inherently large spreads, which means that they can have a spread of approximately 1.2 pips for forex majors or even over two pips; however, this is common for all brokers and should not be cause for alarm.

The advantage of using QuickTrade is that because you may only open an account in ZAR, you won’t be charged a cost for converting your currency.

When you open an account in a currency other than the base currency, such as US dollars, you should be prepared to pay a conversion charge. This is one of the most important things to keep in mind.

Only one trading platform is offered through QuickTrade, namely MetaTrader 5. The MetaTrader 5 (MT5) platform, which was created by MetaQuotes Software, is sometimes referred to as the more youthful sibling of the MetaTrader 4 (MT4) platform.

There is a solid reason why MT5 is utilized by millions of traders around the world. It provides traders with a wealth of trading and analytical features to assist them in their endeavours.

Many traders have a preference for using this particular platform because of the additional services it provides. MetaTrader 5 gives access to a wide variety of helpful features.

This encompasses the built-in marketplace for trading robots, the freelance database of strategy developers, copy trading, and the virtual hosting service (Forex VPS). All of these trade services are available to customers, who can use them to make trading more streamlined.