IFX Brokers vs RoboForex

IFX Brokers vs. RoboForex

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

Which offers better pricing – IFX Brokers or RoboForex?

IFX Brokers’ minimal spread starts from 0.5 pips EUR/USD with competitive commissions. Four live CFD accounts and a stock trading account are available from RoboForex.

The cost of trading varies according to the kind of account a trader selects. For example, the trading fees on the RoboForex Prime and ECN accounts are cheaper than those on commission-free accounts and other brokers.

Since the average trading cost for other brokers is 9 USD for each lot of EUR/USD exchanged, the Prime Account offers some of the lowest trading costs in the market, including the lowest commissions.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is still a young broker but has made a good name in South Africa as a transparent and trusted forex and CFD broker. This is proven through its FSP license and FSCA regulation, allowing IFX Brokers to provide services in South Africa to retail traders.

The International Financial Services Commission (IFSC) of Belize has issued a license to RoboForex Ltd with license number 000138/210.

Anti-money laundering (AML) and Know Your Customer (KYC) requirements require RoboForex to confirm each customer’s identification and prohibit payments from third parties or unidentified sources.

Customers of RoboForex Ltd may be entitled to reimbursement from one of the Compensation Fund’s members for up to €20,000. Additionally, up to 5 million EUR, RoboForex’s Civil Liability Insurance protects against fraud, errors, negligence, and other losses.

Verify My Trade (VMT), the execution quality certificate issued by RoboForex Limited, confirms that the broker satisfies all requirements set out by the Financial Commission. The RoboForex negative balance protection offered to all retail accounts will benefit individual investors.

Which broker offers the superior trading platform?

IFX Brokers offers access to MetaTrader 4 and MetaTrader 5. In addition, the outstanding range of trading platforms supported by RoboForex includes MetaTrader4 (MT4), MetaTrader 5 (MT5), c-Trader, and its own platform, R-Trader.

Depending on the trading needs of the account, several platforms are accessible for various accounts.

Furthermore, these platforms make it easy to trade since they have all the resources and tools needed to research, analyze data, place and exit transactions, and employ third-party automated trading software.

Each platform option has an online version and is available for download to your PC at no cost. They can be found on mobile Android and iOS devices as well. For example, R Stocks Trader, an intuitive proprietary platform, was named “Best Global Mobile Trading App 2020” by the Global Forex Awards B2B. As a result, more than 12,000 different financial assets may now be traded on real-time global exchanges.

R Stocks Trader has a wide variety of trading tools and features, such as customizable watchlists, multiple windows, and flexible layouts. In addition, it offers an innovative resource by facilitating the creation, execution, and evaluation of trading strategies.

Do these brokers both offer MetaTrader?

IFX Brokers and RoboForex offer MetaTrader 4 and MetaTrader 5.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 70 currency pairs, while RoboForex only offers 40 pairs.

Is it safe to trade with IFX Brokers?

It is safe to trade with IFX Brokers. IFX Brokers is a foreign exchange broker based in South Africa. Therefore, they are subject to strict rules enforced by the Financial Sector Conduct Authority (FSCA), South Africa’s primary regulating organization.

As a result, IFX Brokers offers a transparent trading environment with transaction security measures in place. Furthermore, all client funds are stored in separate accounts.

Is it safe to trade with RoboForex?

It is safe to trade with RoboForex. However, its Tier-3 regulation is some cause for concern in terms of investor protection.

RoboForex is an experienced broker that serves traders of diverse experience levels with trading and investment solutions. The company has over 1 million customers from 169 different countries. RoboForex Ltd. has a tier-3 license issued by the Financial Services Commission (FSC) of Belize.

RoboForex has been in business for 12 years and has become an award-winning broker offering a wide range of advanced services. RoboForex’s order execution quality is audited periodically through Verify My Trade, the broker’s most notable feature.

To verify RoboForex’s trade execution accuracy, independent auditor Verify My Trade examined a random sample of 5,000 order executions. This helps reduce the possibility of slippage and is of particular use to traders who need their orders filled quickly and precisely.

The broker can do this because it has a much larger number of liquidity providers than is typical in the sector (8 vs. the norm of 5).

RoboForex is not required by its regulator to join The Financial Commission, have civil liability insurance, or use the Verify My Trade service. However, RoboForex’s endeavour in these areas indicates its dedication to providing superior service and several layers of security for its customers.

Who is IFX Brokers?

IFX Brokers is a well-known broker in South Africa. The Financial Sector Conduct Authority (FSCA) authorize them, and they provide trading on the MT4 and MT5 platforms in addition to a variety of ZAR accounts.

To accommodate traders of diverse levels of competence and experience, IFX provides five distinct live accounts, each with a different minimum deposit requirement.

When trading EUR/USD spreads of one pip or greater, the minimum deposit is ten dollars, with a maximum deposit of one thousand dollars on more premium and professional accounts.

IFX Brokers’ 70 unique currency pairings include a broader choice of major, minor, and exotic possibilities than most of IFX Brokers’ competitors. Furthermore, IFX Brokers has competitive trading conditions and spreads from 0.5 pips EUR/USD.

You will trade in a fair and transparent environment where you can anticipate quick transaction execution and the best price compiled from leading liquidity providers. Furthermore, South African traders have access to a variety of deposit and withdrawal options when they work with IFX Brokers.

These options include cryptocurrencies and OZOW, PayFast, MasterCard, Visa, PayFast, Skrill, and Neteller. Deposits are typically processed immediately and at no cost, whereas wire transfers can take anywhere from 24 to 48 hours.

Who is RoboForex?

RoboForex was founded and made available to Forex and CFD clients in 2009. RoboForex has seen growth in the currency market since its launch and presently provides services to 1,000,000 corporate partners.

The official sponsor of the BMW M Motorsport vehicle brand is RoboMarkets Ltd. RoboForex offers USD, EUR, and other market currencies on its platforms.

It is a trustworthy financial markets platform due to its regulation, which is approved by the International Financial Services Commission Belize (IFSC). Moreover, for the advantage of its customers, RoboForex enables copy trading leveraged market exchange tactics.

RoboForex offers competitive trading conditions across its five accounts, with spreads typically starting from 0.0 pips on some accounts, with low commissions, and a minimum deposit of 10 USD.

According to the kinds of accounts and instructional materials available, RoboForex is a platform that benefits both beginning and experienced traders. For instance, its website provides tutorials and guides on how to start trading, showing that even complete beginners can use it.

Aside from the ECN account, all accounts can access the demo accounts, indicating that RoboForex has no issue letting novice traders gain experience before signing up with the broker.