IFX Brokers vs Varianse

10 Best Forex Brokers in South Africa that accept Crypto

Overall Comparison

FEATURE

IFX Brokers

Varianse

General comparison

4/5

4/5

Regulation

5/5

4/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

4/5

Trading Apps

4/5

4/5

Analytical Tools

4/5

2/5

Educational Resources

5/5

2/5

Trust Score

93

75

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

Varianse

Trust score

93

75

Year Founded

2018

2015

Publically Traded

No

No

Licensed in South Africa

Yes

No

Assets Comparison

FEATURE

IFX Brokers

Varianse

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

44

US Stock Trading

No

No

International Stock Trading

No

No

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

Varianse

Average Spread for EUR/USD

0.2 pips

0.6 pips

Commissions Charged

Yes

Yes

ECN Execution

Yes

Yes

Market Maker Execution

No

No

Deposit Options Comparison

FEATURE

IFX Brokers

Varianse

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

Yes

Minimum Deposit

$100

$500

Trading Platforms Comparison

FEATURE

IFX Brokers

Varianse

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

No

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

No

cTrader

No

Yes

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

No

Analytical Tools Comparison

FEATURE

IFX Brokers

Varianse

Economic Calendar

Yes

No

Social Sentiment

Yes

No

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

No

Daily Market Commentary

Yes

No

Educational Resources Comparison

FEATURE

IFX Brokers

Varianse

Offers education

Yes

No

Webinars

Yes

No

Beginner training videos

Yes

No

Advanced training videos

Yes

No

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

Varianse

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. Varianse

We devoted several hours to a comprehensive analysis of the top Forex brokers for 2024. This article compares IFX Brokers and Varianse.

 

Which offers better pricing – IFX Brokers or Varianse?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. Varianse offers a spread of 0.6 pips, which is very competitive with most brokers.

IFX Brokers charge commission which apply on certain accounts. Varianse offers a choice between three live account types, namely Classic ECN, ECNpro and Prime ECN. It does not charge commission on the Classic account, but charges $3.50 per lot per side on the ECNpro and Prime accounts.

 

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.

Varianse is a broker that was founded in the United Kingdom in 2015 and falls under the strict regulations of the Financial Conduct Authority (FCA). For clients from the Middle East and Africa, the broker is regulated by the Financial Services Commission (FSC) of Mauritius. Varianse is also regulated through the Lubuan Financial Services Authority (LFSA) in Malaysia where it offers its services to clients of the Asia Pacific region 

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.

Varianse also offers trading on the popular and globally known MetaTrader 4 which is preferred by beginner and novice clients. In addition, it also offers trading on the cTrader platform. Both these platforms are available on desktop, all mobile devices and the web.

 

Do these brokers both offer MetaTrader?

IFX Brokers offers trading on both MetaTrader 4 and MetaTrader 5 platforms, but Varianse only offers trading on the MetaTrader 4 platform.

 

How many Forex pairs can I expect from these brokers?

IFX Brokers offers trading in about 60 forex pairs, where Varianse offers trading in over 44 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 Varianse?

Although Varianse is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa it is regulated in most of the other countries it operates in, which ensures the safety to trade with this broker.

Varianse is a UK based STP broker and thus falls under the strict regulations of the Financial Conduct Authority (FCA). In addition, it is also regulated through the Financial Services Commission (FSA) in Mauritius and the Lubuan Financial Services Authority (LSFA) in Malaysia.

 All client funds are kept in segregated custody accounts with Barclays Bank and it accepts clients from South Africa.

 

Who is IFX Brokers?

The South African foreign exchange broker, IFX Brokers is subject to the oversight of the Financial Sector Conduct Authority. The ability of any broker firm to continue operating is significantly impacted by the various regulations and limits they must adhere to. Because businesses have legal safeguards in place, there is less of a chance that they will become victims of fraud or other financial misdeeds.

IFX Brokers give its customers access to the MetaTrader 4 and MetaTrader 5 platforms, which are considered to be two of the most widely used and well-known platforms in the foreign exchange market. This is done in order to facilitate the speedy completion of foreign currency transactions.

These systems give its users access to an extensive variety of charting capabilities, a user-friendly interface that is able to handle many chart layouts and is available in two languages, and efficient order administration software.

MetaTrader versions 4 and 5 can not only be used on personal computers, but they are also compatible with mobile devices that run the iOS and Android operating systems and do not require the installation of any additional software.

The clients of IFX Brokers have access to an incredibly wide variety of trading alternatives and financial marketplaces to trade in. Products such as spot metals, energy, commodities, contracts for difference, stock indices, foreign currency, and virtual currencies are included in this category.

In addition to providing access to sixty different currency pairings, IFX brokers provide its customers with the opportunity to trade in natural gas, oil, and precious metals such as gold, silver, platinum, and palladium.

The lowest amount of money that must be deposited into a regular account is $100, and the smallest possible trade size is one hundredth of a lot. The U.S. dollar, the euro, and the South African rand are the primary currencies that can be used with this account.

In addition, the organization provides a demo account for potential customers to test out.

Customers of IFX brokers have access to a variety of easy methods, such as Pay Quick, Visa, and MasterCard credit cards, for depositing funds into and withdrawing funds from their accounts.

The fact that there are no costs associated with either deposits or withdrawals is the best aspect. Customers who are located in South Africa normally need between two and five hours to finish the withdrawal process.

On the other hand, it is common practice for businesses serving foreign customers to require a period of four or five working days to finish the withdrawal process.

 

Who is Varianse?

Varianse was established in 2015 and headquarters in London. The broker is the innovation of former engineers and traders from the world’s top tier-1 banks. The main goal of Varianse is to make institutional grade trading services and market research available online to every trader through the use of the latest and best technology.

Varianse offers its services to clients in more than 100 countries and offer brokerage in six different asset classes. Trading is offered in over 200 instruments in forex, crypto, metals, energy, equities and indices.

According to the broker’s website they have accumulated a wealth of experience from tier-1 investment banks, global asset managers, and the tech sector. Since its inception, Varianse has received eight industry awards which include the best broker for professional and algorithmic traders.

The broker is also well regulated and clients can rest assured that it is a safe and trusted broker. It is internationally trusted and licensed by the FCA, FSC and LFSA and funds are kept in 3 Tier-1 Banks namely Barclays, Maybank and MauBank.

Clients have a choice between three account types. With the Classic ECN Account, clients gain access to the global markets and trade commission free with no fees, on FX, metals and commodities. This account offers forex spreads from just 1 pip. It is the best forex account for both novice and experienced traders who wish to keep control of their trading costs with an all-inclusive FX pricing.

The ECNpro account offers spreads starting from 0 pips, and is the best account type in offer for algorithmic, high frequency and day traders who require the sharpest forex spreads to execute their trading strategies. The account executes efficiently with full market depth available giving you a transparent view of the market. It has a low commissions charge of just $3.50 per lot per side. The ECNpro account is the most popular and recommended account of Varianse.

The third account type is the Prime ECN Account which is the best forex account type for high net worth, institutional and execution conscious clients who demand d both elevated trading services and razor-sharp forex spreads. It offers tailored liquidity streams customized to each client’s requirements, full post trade transparency, and customizable post trade execution metrics derived directly from our matching engine.

Traders are offered two trading platforms to choose from. Both are available on desktop devices as well as the web and all mobile devices. cTrader is a powerful, modern and dynamic platform that allows full market depth and volume. It has built-in copy trade strategies for money managers and investors.

MetaTrader 4 need no introduction. It is the one platform that is offered by most financial brokers and globally trusted and preferred. It has easy to use powerful online trading software for trader and the advanced trading technologies allows you trade under any market condition. The platform is also specifically adapted to handle high volume concurrent execution. It supports multiple order types and execution modes.

The one aspect that is lacking with Varianse is educational and research tool. No indication of any such services was found on the broker’s website with the exception of some questions and answers posted under the help link. It does offer a demo account which is very useful for especially beginner traders although many advanced traders also prefer to test a brokers trading conditions through the demo account.

Overall, Varianse is a trustworthy broker and comes highly recommended by clients who have already put it to the test.