IFX Brokers vs Webull

IFX Brokers vs. Webull

We spent many hours thoroughly examining the best-in-class Forex brokers for 2023. Here, we take a closer look at IFX Brokers and Webull.

Which offers better pricing – IFX Brokers or Webull?

IFX Brokers and Webull both offer competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency. Webull does not offer trading in forex but specializes in shares and stocks.

IFX Brokers charges competitive commissions of USD6 per round turn, while Webull does not appear to charge any commissions on any of its trading options.

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.

Webull is US based company that also operates in South Africa. In addition, Webull also operates in the UK, Australia, Singapore, Japan, and Hong Kong.

As such it operates under the regulatory bodies of the country it operates in. Webull in South Africa is regulated by the Financial Sector Conduct Authority (FSCA). In Australia, the broker is regulated by the Australian Securities Investments Commission (ASIC).

In other countries brokerage services are provided by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC). It is also a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange, Inc (CBOE EDGX).

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.

Webull does not offer trading on the popular and well known MT4 and MT5, but offers trading on its own proprietary platform. 

Do these brokers both offer MetaTrader?

IFX Brokers offers access to both MetaTrader4 and MetaTrader5. Webull has its own in-house platform.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs. Webull does not offer trading in forex pairs but focusses on US shares and stocks.

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 Webull?

Yes, Webull is also regulated by the FSCA in South Africa, so that local traders will receive full deposit security and a transparent trading environment. In addition, it is also regulated and registered with ASIC in Australia, FINRA, SIPC, and SEC.

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 best thing about the whole thing 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 Webull?

Webull is a leading digital US investment platform built on next-generation global infrastructure. At present the broker serve tens of millions of users from over 180 countries. Webull is licensed in the US, UK, Australia, Singapore, Japan, Hong Kong, and South Africa.

In South Africa, Webull Securities South Africa Pty Ltd is an Authorised Financial Services Provider (FSP) and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.

In Australia, Webull Securities (Australia) Pty. Ltd. is an Australian Financial Services firm licensed and regulated by the Australian Securities Investments Commission (ASIC).

In the US, brokerage services are provided by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC), who is also a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange, Inc (CBOE EDGX). Due to the membership with SIPC, securities of its members is protected up to $500,000.

Thus, the broker stands on a sustainable background being a reliable broker to trade. It also offers a good choice of trading software including a mobile app and a web-based platform. This allows trade in various financial instruments such as stocks, ETFs, options, ADRs and fractional shares.

Traders have access to advanced trading tools and the commission-free structure accesses a variety of trading products without incurring trading fees, potentially saving costs over time. Using fractional share trading allows you to buy fractional shares from as little as $ 5, with 0 commissions, to invest in the stocks of your favourite companies.

Webull offers two different types of accounts, namely an Individual Brokerage Account and a IRA account, which include Traditional IRAs, Roth IRAs, and Rollover IRAs. Webull allows both cash and margin accounts for individual accounts. A trader may possess one of each.

A benefit for US traders is the company’s provision of a tool called Paper Trading. Without putting real money at risk on the stock exchange, traders can test their tactics in a virtual setting that mimics real market conditions. This is similar to demo accounts provided by most other financial brokers.

The broker does not offer a wide variety of funding methods and may also vary based on your location. Some of the most common options provided by Webull include Bank Transfers, Wire Transfers, ACH Transfers, and Mobile Check Deposits.

Although not comprehensive, Webull does provide some educational material to assist new and more advanced traders. As far as providing research tools, with Webull, traders have access to a screener, analyst ratings, price targets, company news, and lists out ETFs that include the stock as a holding.

Overall, Webull is a reliable and trustworthy broker that provides traders with ample digital tools.