IFX Brokers vs. Tickmill

IFX Brokers vs Tickmill

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

Which offers better pricing – IFX Brokers or Tickmill?

Both IFX Brokers and Tickmill offer the same spread on the EUR/USD currency pair, averaging at 0.2 pips, and both brokers charge commission, though Tickmill’s commission structure is slightly lower than that of IFX Brokers.

Which broker offers more security when trading Forex and CFDs?

Both Tickmill and IFX Brokers are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, offering a high level of security when trading. Tickmill’s international entity is also regulated by the Financial Conduct Authority (FCA) in the UK.

As such, traders can expect the same level of security when trading with both these brokers, and can take advantage of segregated deposit accounts and a high degree of operational transparency.

Which broker offers the superior trading platform?

Both IFX Brokers and Tickmill provide access to the full MetaQuotes suite of trading platforms, consisting of MT4 and MT5. As such, traders can enjoy access to one of the best-in-class forms of trading software which is suited to both beginner and advanced traders.

Do these traders both offer MetaTrader?

Yes, both IFX Brokers and Tickmill provide access to MT4 and MT5, comprising the full suite of trading platforms from MetaQuotes.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers 60 Forex currency pairs, while Tickmill offers slightly more currency pairs at 62 being made available to traders. Both brokers offer the same selection of majors, as well as minors and exotics options.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a South African Forex broker that is fully licensed by the Financial Sector Conduct Authority (FSCA), which is the leading regulatory body in South Africa, making it completely safe for South African traders to sign up with IFX Brokers.

Is it safe to trade with Tickmill?

Tickmill is regulated by a number of top-tier authorities, such as the Financial Conduct Authority (FCA) of the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC), but South Africans will be onboarded through Tickmill’s Seychelles-based entity, which provides a lower level of protection.

South African traders will not receive the benefits of local regulation, and their money will not be kept separate at South African banks as a result of this development, which is a regrettable turn of events for South African traders.

Even though the lack of FSCA monitoring might turn off some South African traders, we still think Tickmill is a reliable broker that you should feel comfortable trading with. It has obtained licenses from a variety of other authorities all over the world.

Who is IFX Brokers?

IFX Brokers is a South African internet trading firm that was established in that country. Commitment, transparency, and trust are the company’s guiding principles, and they serve as the organization’s basic values.

The company offers private and institutional traders a one-stop trading and investing experience by providing customers with the cutting-edge MetaTrader 4 trading platform for online trading of various financial products.

These products include forex, indices, commodities, energy metals, and futures, amongst others. IFX Brokers is a trading name of the company IFX Brokers Holdings (Pty) Ltd, which is a South African-based corporation registered by the local Financial Sector Conduct Authority. IFX Brokers was founded in 1999.

The IFX brokers make it possible for traders to engage in transactions with a diverse selection of financial assets, including futures, commodities, indexes, energy, and metals.

When you sign up for an account with IFX, you can choose from one of the following four base currencies to use:

The currencies involved are the ZAR, GBP, USD, and EUR.

The most important thing to remember in this scenario is that the base currencies you use depend on the type of account you decide to open.

For instance, the South African Rand (ZAR), the British Pound (GBP), the Euro, and the United States Dollar serve as base currencies for the standard account, whereas the raw spread account uses only the ZAR and the USD.

IFX provides one of the most comprehensive MT4 upgrade packages available, which includes 85 different indicators already installed.

This indicates IFX’s dedication to automated traders, despite the fact that IFX’s own trading platform does not enable this functionality. The MAM/PAMM module is not offered on the MT4 trading platform at IFX; nonetheless, there is a copy-trading option available on the platform.

The software can be downloaded as a desktop application for use on computers running Windows or Mac operating systems, as well as a mobile application that can be used on devices running Android or iOS.

In addition to offering excellent market spreads, IFX Brokers also offers connectivity to True ECN. At any given time, over 50 banks and dark pool liquidity sources price into the broker’s ECN. This helps to maintain low spreads and a high level of liquidity over the course of the market session.

As part of their IFX Academy program, the IFX Brokers make available a significant amount of pedagogical resources.

Within the academy, IFX provides instructional resources that are accessible to users at all levels of expertise, from novice to intermediate to advanced, in order to educate users about the world of trading.

You will receive all of the course materials and assignments in an electronic format, and you will have the freedom to determine the pace at which you finish each module.

The customer care department at IFX is open twenty-four hours a day, five days a week. In addition, the IFX website features a contact section that provides users with the option to list their phone numbers or registered addresses. Additionally, you are able to communicate with them through social media platforms such as Facebook, Instagram, and Twitter.

Who is Tickmill?

Tickmill is a reliable broker that supports both MT4 and MT5, and it also offers two trading accounts that are among the industry’s lowest commission rates. This makes it an ideal trading environment for serious novices as well as more experienced traders.

Tickmill is regulated by the South African Financial Sector Conduct Authority (FSCA). Despite this, South African traders will be onboarded through Tickmill’s Seychelles-based firm, which provides a lower level of security.

Tickmill offers two different commission-based accounts, both of which provide low spreads (0.0 pips on the EUR/USD) and some of the industry’s lowest commission rates.

There is also the option of opening a basic account, which does not charge a commission and has spreads on the EUR/USD that begin at 1.6 pips. Education and research of the market are both very beneficial, and seasoned traders will appreciate the extensive selection of currency pairs available.

Tickmill is a fantastic choice of broker for Metatrader users who are interested in switching brokers because it offers two accounts with low commission fees, despite the fact that its regular account is more expensive than those offered by other brokers offering comparable services.

Tickmill provides a remarkable assortment of reading and viewing content for educational purposes. Even though the vast majority of it is geared toward newcomers, there are certain parts that will be interesting to more seasoned traders. Traders can also take advantage of the company’s no-cost demo account to hone their skills on the company’s trading platforms before registering for a genuine account.

Tickmill provides its users with a variety of instructional tools, including as e-books that can be downloaded for free, video tutorials, infographics, and a lexicon of Forex terms. In addition to that, it routinely conducts webinars and seminars.