IFX Brokers vs SuperForex

IFX Brokers vs. SuperForex

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

Which offers better pricing – IFX Brokers or SuperForex?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. SuperForex offers a spread of 2 pips, which is much higher than that offered by IFX Brokers, but still very competitive.

Both brokers charge commission, though commissions only apply on certain account types.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African broker that is full regulated by the Financial Sector Conduct Authority (FSCA). This is the primary financial regulator in the country, allowing traders with IFX Brokers to enjoy a high level of deposit security and fully transparent trading conditions.

SuperForex only has one regulatory body namely the International Financial Services Commission in Belize. Although it operates in South Africa, the company is not regulated in South Africa by the FSCA, but does offer the same level of security to South African traders.

Which broker offers the superior trading platform?

IFX Brokers gives users access to MT4 and MT5, comprising the whole MetaQuotes suite. These are regarded as the most well-liked and varied trading platforms in the market, and they provide social trading, a plethora of indicators, and strong charting tools.

SuperForex only provides access to MT4, since it is known as the most reliable and innovative trading technology service out there. It is the preferred choice of trading professionals and designed to provide fast and accurate brokerage services to customers in forex, CFDs, and futures markets.

Do these brokers both offer MetaTrader?

IFX Brokers provides access to both MT4 and MT5, while SuperForex only provides access to MT4 on various devices.

How many Forex pairs can I expect from these brokers?

IFX Brokers provides access to 60 forex pairs, while SuperForex provides access to 80 forex pairs.

Is it safe to trade with IFX Brokers?

Yes. The main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA). They are in charge of overseeing IFX Brokers, ensuring that traders have access to transparent markets and a fair Ombudsman in the event that they run into any problems.

Is it safe to trade with SuperForex?

It is safe to trade with SuperForex although it has only one regulatory body which is the International Financial Services Commission in Belize.

The IFSC is an unbiased governmental regulatory organ tasked with examining SuperForex policies, services, and assets. In 2016 the IFSC increased its capital requirements so that the required minimum of funds a broker needs to own in order to operate is now $500,000.

SuperForex allows South African traders to trade with it although it is not regulated in South Africa by the FSCA, but offering the same level of security to South African traders.

Who is IFX Brokers?

The Financial Sector Conduct Authority regulates IFX Brokers, a South African Forex broker. Regulations and constraints have a significant impact on the ability of any broker firm to maintain operations. Businesses have legal measures in place to avoid losses and fraud, hence reducing the likelihood of falling victim.

In order to expedite foreign exchange transactions, IFX brokers provide their clients with access to the MetaTrader 4 and MetaTrader 5 platforms, two of the most popular and commonly utilised platforms in the industry.

These systems provide their customers with a vast array of charting capabilities, a user-friendly interface that is available in two languages and is capable of handling several chart layouts, and effective order administration software.

MetaTrader 4 and 5 can be used without additional software on iOS and Android mobile devices in addition to PCs.

The financial markets and trading options available to clients of IFX Brokers are extraordinarily diverse. This area includes products such as spot metals, energy, commodities, contracts for difference, stock indices, foreign currency, and virtual currencies.

IFX brokers offer its clients access to natural gas, oil, and precious metals such as gold, silver, platinum, and palladium, in addition to 60 currency pairs.

The minimum deposit required for a standard account is $100 USD, and the minimum trading size is 0.01 lot. This account’s basic currencies are the U.S. dollar, the euro, and the South African rand.

The company also offers a test account for evaluation purposes.

Customers of IFX brokers enjoy convenient options for funding and withdrawing monies from their accounts, including Pay Quick, Visa, and MasterCard credit cards.

The best feature is that neither deposits nor withdrawals are subject to fees. Customers from South Africa typically require between two and five hours to complete a withdrawal.

However, it is customary for international consumers to require four or five business days to complete the withdrawal process.

Who is SuperForex?

SuperForex is an offshore forex broker that was founded in 2013 and headquarters in Belize. The broker is an online securities and derivatives broker offering trading in over 400 financial instruments on the MetaTrader 4 platform with ECN and STP execution.

SuperForex operates from Europe but caters to clients in over 150. countries. Its main focus is on the Africa continent and although office locations can also be found across the world, it also includes offices in South Africa, Zambia, Malaysia, Indonesia, and Zimbabwe.

SuperForex is known for offering top-tier services in trading and investment on the financial markets, which include trading in forex, cryptocurrencies, gold, metals, stocks, oil and indices.

SuperForex falls under the regulatory authority of the International Financial Services Commission in Belize. The IFSC is responsible for regulating SuperForex plus ensuring that its services are in agreement with international law.

Furthermore, SuperForex offers a multitude of Security Measures to its clients and their funds, which include making use of segregated funds in which client funds are kept and making use of an SSL certificate to protect client data.

Traders have a choice between a variety of live account types that fall under either STP accounts or ECN accounts. The terms and minimum deposits for each live trading account will vary, so it’s critical for traders to select the account type that best fits their unique trading objectives and methods.

Under the STP account type, traders can either open a Standard account, No spread account, Micro Cent account, Profi-STP account or a Crypto account.

With the ECN account option traders are allowed to trade directly on the forex exchange without making use of intermediary banks. Here you have a choice between Standard account, Standard Mini account, Crypto account, Swap Free account and a Mini Swap Free account.

Each account type has its own unique fees, spreads, commissions, and conditions.

SuperForex has been awarded for its excellence in a few field or which the most recent awards are the Best Cryptocurrency broker LATAM 2022 by Global Business Magazine; Best Withdrawal Options 2022, Africa by World Financial Award; Best ECN Broker in Africa for 2021 by Global Business Magazine; Best ECN Broker in Africa for 2021 by International Business Magazine; and Best New ECN Broker in Africa 202 by Global Brands Magazine.

Although it does not focus enough on research and educational material, SuperForex does have some educational resources that include Educational Videos, Training Lectures, Seminars, analytics, and Economic News.

The company offers excellent customer support via telephone, email, live chat and social media.