IFX Brokers vs RoboMarkets

IFX Brokers vs. RoboMarkets

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

Which offers better pricing – IFX Brokers or RoboMarkets?

IFX Brokers and RoboMarkets both offer tight, competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency pair, while RoboMarkets offers 1.0 pips for the same currency pair.

IFX Brokers charges competitive commissions of $6 per round turn, while RoboMarkets does not appear to charge commissions but works these charges into the spread.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a fully licensed and regulated Forex broker that is based in South Africa. As such, IFX Brokers is overseen by the Financial Sector Conduct Authority (FSCA) of South Africa, which is the primary regulator of the financial markets in the country.

RoboMarkets’ headquarters is in Cyprus and the company is regulated by the Cyprus Securities and Exchange Commission (CySEC) since its inception. It also operates in 20 of the EU countries and is regulated by that particular country’s regulatory body, such as FMA, CNB, Danish FSA, EFSA, FIN-FSA, ACPR, BaFin, FCS, CONSOB, FCMC, Central Bank of Hungary, Bank of Lithuania, MFSA, AFM, CMVM, NBS, ATVP, CNMV and FI.

Although it does accept clients from South Africa is not fall under the watchful eye of the Financial Sector Conduct Authority (FSCA) in South Africa.

Which broker offers the superior trading platform?

IFX Brokers provides access to both MetaTrader 4 and MetaTrader 5, which are widely regarded as the best trading platforms in the industry. As such, traders will have access to a wide range of tools, diverse market access, and fast execution.

RoboMarkets also offers trading on MetaTrader 4 and MetaTrader 5 on all five the account types and trading conditions differ depending on which platform you use. 

Do these brokers both offer MetaTrader?

Yes, IFX Brokers and RoboMarkets offers access to both MT4 and MT5 trading platforms.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while RoboMarkets only provides access to 36 currency pairs.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated Forex broker with a South African basis that possesses a complete FSCA licence. The numerous financial institutions in the nation are under the direction of the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) was established with the aim of protecting investors by promoting fair treatment and educating people on various financial matters, as well as to promote and maintain the efficiency and integrity of financial markets.

Is it safe to trade with RoboMarkets?

Although RoboMarkets is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, it is regulated through CySEC in Cyprus in addition to a number of regulatory authorities in the EU. In light of this, traders will still receive full deposit security and a transparent trading environment.

Who is IFX Brokers?

South African Forex broker IFX Brokers is well-regulated and has a lot of clients. Customers of IFX brokers can use the MetaTrader 4 and MetaTrader 5 trading platforms, which are some of the most popular and successful in the world.

These platforms have better charting features, state-of-the-art order management programmes, and a bilingual user interface that lets charts be laid out in different ways.

MetaTrader 4 or 5 can also be used on iOS and Android devices without having to install any extra software.

Customers of IFX Brokers can trade on a wide variety of trading instruments. Some of these financial products are currencies, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies.

Clients of IFX brokers can also trade in 60 different currency pairs, precious metals (gold, silver, platinum, and palladium), natural gas, and oil.

The smallest deal size is 0.01 lot, but a standard account requires a minimum deposit of $100 in US dollars. South African Rand, US Dollars, and Euros are the account base currencies, in that order.

You can also use a “practise account” instead of a real account.

Customers of IFX brokers can easily add money to and take money out of their accounts by using Pay Quick, Visa, or MasterCard credit cards, among other options.

The biggest advantage to trading through IFX Broker is that there are no fees for deposits or withdrawals. The withdrawal process can be done in as little as two to five hours for South African customers.

On the other hand, it takes four to five working days to finish the withdrawal process for customers outside of the country.

Who is RoboMarkets?

RoboMarkets was established in 2012 and headquarters in Limassol, Cyprus. The company is regulated by the CySEC. It received its license as a European broker in 2013.

As a result of the tremendous expansion that has taken place over the course of the past decade, the company currently offers professional services to its clients, both retail and institutional.

RoboMarkets is a multi-asset broker that provides traders with access to more than 12,000 different trading instruments across 6 different marketplaces. This includes forex, stocks, indices, cryptocurrencies, ETFs, commodities, metals and energies.

All clients receive access to professional trading platforms and cutting-edge proprietary technologies. The company offers the use of the best trading platforms namely MetaTrader 4, MetaTrader 5 and R Trader.

Both MetaTrader 4 and MetaTrader 5 are well-known, reputable, and reliable trading platforms that are highly customizable and user-friendly while R Trader can also be accessed on a variety of devices.

RoboMarkets offers traders a choice between five different live accounts, each with its own features. The accounts cater to the individual needs of traders with varying levels of skill, experience, and experience.

The Pro Account is the most popular account type at RoboMarkets and suitable for traders with different experience on the currency market.

The ECN Account’s main features are very low spreads and are mostly intended for professional traders who prefer advanced trading conditions.

The Prime Account is intended for experienced traders and include the best trading conditions available at RoboMarkets.

With the ProCent Account, the base currency is using cents and it allow traders to test new trading strategies with small deposits.

The R Stocks Trader Account is a unique account for trading through multi-asset web platform R StocksTrader and focus on the experienced trader. Through this account, traders have access to all major financial markets from a single account.

The minimum deposit required for any form of account is $100, however spreads can be quite different depending on the type of account you have. The most competitive spreads are available for accounts that include commission costs because those payments more than cover the cost of the broker.

In addition, RoboMarkets offers a choice between multiple payment methods with no commissions charged on deposits or withdrawals.

RoboMarkets has also obtained various awards since its inception. Some of the most recent awards that it has won include, Safest European Broker – 2020, Best Trading Execution – 2019, Best Client Service in Forex, Europe – 2019, Leading European Indices Broker – 2019, and Leading Mobile Trading Broker – 2018, to mention but a few.

RoboMarkets offers multilingual customer support 24/7, and is ready to serve you at any time. It offers live support through the chat function on the website, or it can be reached by telephone or email. The website also features a comprehensive FAQ section that makes provision for common queries and questions that clients may have.