IFX Brokers vs TMGM

IFX Brokers vs. TMGM

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

Which offers better pricing – IFX Brokers or TMGM?

IFX Brokers and TMGM both offer tight, competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency pair, while TMGM offers variable spreads depending on the account type that you open, though these can start as low as 0.1 pip.

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.

TMGM’s stringent regulation in a number of different jurisdictions has given no reason to doubt their reliability with client money. Since they are obligated by law to adhere to the many safeguards set in place for traders, new clients should have no qualms about engaging in business with them.

That said, South African traders should keep in mind that TMGM is not regulated or licensed in South Africa by the FSCA, which means that local traders will not have recourse to an overseeing body in case of any disputes.

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.

TMGM also provides access to both MetaTrader 4 and MetaTrader 5, as well as IRESS trader and their own proprietary trading platform called HubX.  

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and TMGM provide access to the full MetaQuotes suite, consisting of MetaTrader 4 and MetaTrader 5.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while TMGM only provides access to 50 currency pairs.

Is it safe to trade with IFX Brokers?

If you’re looking for a Forex broker that operates out of South Africa and has a full FSCA licence, IFX Brokers is your best bet. The Financial Sector Conduct Authority regulates the many banks and other financial organisations around the country (FSCA).

The Financial Sector Conduct Authority (FSCA) was set up to safeguard investors through the promotion of fair treatment and the dissemination of relevant financial information, as well as to promote and maintain the efficiency and integrity of financial markets.

Is it safe to trade with TMGM?

Yes, TMGM’s stringent regulation in a number of different jurisdictions has given no reason to doubt their reliability with client money. Since they are obligated by law to adhere to the many safeguards set in place for traders, new clients should have no qualms about engaging in business with them.

However, South African traders should keep in mind that TMGM is not regulated or licensed in South Africa by the FSCA, which means that local traders will not have recourse to an overseeing body in case of any disputes.

That said, TMGM keeps client monies in a “pooled” client trust account that is kept entirely separate from the business’s operating funds. This is wonderful news since it ensures that your money will be spent only as intended. Any potential problems should prevent the company from having access to these funds.

Who is IFX Brokers?

The well-regulated and popular South African forex broker IFX Brokers has many customers. Traders with IFX brokers have access to two of the most well-known and profitable trading platforms in the world: MetaTrader 4 and MetaTrader 5.

These platforms include more advanced charting capabilities, cutting-edge order management systems, and a bilingual user interface that enables many chart layouts.

On iOS and Android devices, MetaTrader 4 or 5 can be utilised without the need to install any additional software.

Trades can be made on a wide range of trading instruments by IFX Brokers’ clients. Currency, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies are a few of these financial items.

Additionally, 60 different currency pairs, precious metals (gold, silver, platinum, and palladium), natural gas, and oil can all be traded by IFX brokers’ customers.

Although a basic account requires a minimum deposit of $100 in US currency, the smallest deal size is 0.01 lot. The account basis currencies are, from least to most valuable, South African Rand, US Dollars, and Euros.

Instead of a real account, you can alternatively utilise a “practise account.”

Customers of IFX brokers can quickly deposit money into and withdraw money from their accounts using a variety of methods, including Pay Quick, Visa, or MasterCard credit cards.

The best part of it all is that there are no costs associated with deposits or withdrawals. For South African consumers, the withdrawal procedure can be completed in as short as two to five hours.

For consumers outside the country, the withdrawal process takes four to five business days to complete.

Who is TMGM?

Trading with TMGM is simple on the robust and user-friendly MetaTrader 4, MetaTrader 5, Iress ViewPoint, and HubX trading platforms, and includes access to thousands of trading instruments, such as forex and CFDs on metals, indices, energy, commodities, crypto, stocks, and shares.

The broker offers competitive rates, fast trade execution, and reasonable fees and spreads. An account with the broker can be opened in a matter of minutes with a deposit of as little as $100. Additionally, you can try online trading with no cost by signing up for a free sample account.

Online forex and CFD trading products and services from Trademax Global Markets (TMGM) are among the best available, and are accessible to both individual traders and institutional investors.

It was in Australia that TMGM’s founders set up shop in 2018. There is a highly trained and impartial technical staff working around the clock to ensure that your trading goes off without a hitch.

Because the broker uses an ECN execution methodology, you have constant and unfettered access to the best market pricing and lightning-fast trade executions with virtually no slippage. They offer a variety of account kinds and a wide variety of funding sources, as well as a technical support staff that is both knowledgeable and impartial, making them an excellent fit for any sort of trader.

With a leverage of up to 1:500, you can trade with a lot of freedom compared to other regulated brokers.

TMGM offers a wide variety of trading instruments for investing in a wide range of assets. Many pairs of currencies are available for trading, including some that are major, minor, and exotic.

Through the MetaTrader platform, you may trade a wide variety of commodities CFDs, giving you access to these markets whenever and wherever you like. Gold, silver, platinum, West Texas Intermediate, and Brent are all available as commodities.

The broker provides access to a wide variety of Indices, including the DJIA, S&P 500, and FTSE 100. The broker’s selection of trading accounts is comprehensive, allowing investors of all skill levels and preferences to choose a suitable account.

They have you covered whether you’re a discretionary trader, expert advisor (EA) user, long-term investor, scalper, or day trader.