iFX Brokers

iFX Brokers was registered in South Africa in 2017 under the legal name iFX Brokers Holdings (Pty) Ltd and operates under the supervision of South Africa's Financial Sector Conduct Authority (FSCA). The broker offers access to forex, indices, commodities, stocks and cryptocurrencies on MetaTrader 4 and 5, but its legal documents explicitly list Iran among its prohibited jurisdictions. Below, we review iFX Brokers based on Teagle's data.

What kind of broker is iFX Brokers?

iFX Brokers has about 9 years of history and, with six account types ranging from Cent to VIP and Raw, targets a wide range of traders. Cent account, ECN account, Islamic account, deposit insurance, copy trading, Expert Advisor use, news trading and phone trading are listed in its Teagle tags. Negative balance protection and fast trade execution are also among its stated advantages, and Teagle's expert describes its technical infrastructure as "powerful".

iFX Brokers licenses and credibility

Teagle's license list records one active license for iFX Brokers:

• FSCA South Africa (No. 2017/027249/07), active.

The FSCA is a recognized regulator, but in terms of strictness and client protection it is not considered on par with bodies such as the FCA or CySEC. Teagle's risk index is also based on this single license. Importantly, FSCA oversight requires the broker to strictly enforce geographic restrictions, which directly concerns Iranian users. To better understand regulator tiers, read the guide to broker regulation and its tiers .

Does iFX Brokers serve Iranians?

No. iFX Brokers has explicitly stated in its legal documents that it does not provide services to Iran. Its website does not support Persian, and accessing it from Iran requires changing your IP. For this reason, Iranian users trading with this broker face a high risk of account suspension, and Teagle's expert considers it "by no means a safe or suitable option" for traders inside Iran. For more on this type of risk, see the article brokers prohibited for Iranians and how to choose a safe broker .

iFX Brokers trading accounts

All accounts have floating spreads, leverage up to 1:500, access to MT4 and MT5, and no requotes:

• iFX Standard: Minimum deposit $10, spreads from 1.3 pips and no commission; margin call 50% and stop-out 30%.
• iFX Cent: Minimum deposit $10, spreads from 1.6 pips, forex pairs only.
• iFX Islamic: Minimum deposit $10, spreads from 1.3 pips and no swaps.
• iFX Premium: Minimum deposit $250, spreads from 1 pip and no commission; margin call 60% and stop-out 20%.
• iFX Raw: Minimum deposit $250, spreads from zero and a $6 commission.
• iFX Vip: Minimum deposit $1,000, spreads from 0.5 pips and a $6 commission; margin call 40% and stop-out 10%.

The broker's general specifications list maximum leverage of 1:1000, but the account table shows a cap of 1:500 for all accounts. For practicing with small capital, see the best brokers for cent accounts , and to choose between Raw and Premium, see the comparison of ECN accounts with other accounts . Teagle's expert does not consider this broker suitable for those who need hedging strategies on small accounts.

iFX Brokers platforms and services

Trading takes place on MetaTrader 4 and 5 for Windows, iOS and Android. Additional services include copy trading, Expert Advisors and trading robots, education, an economic calendar, rebates and bonuses; follow brokers' active bonuses on the bonuses page .

Deposits and withdrawals at iFX Brokers

Payment methods include bank wire, Visa and Mastercard cards, cryptocurrencies, Payfast, OZOW, Neteller and Skrill. The minimum deposit is $10 for most methods and $250 for Neteller and Skrill, and the minimum withdrawal is 50 rand. Bank wire deposits carry a 2.5% fee and take 24 to 48 hours; the other methods are instant and free (network fees apply for crypto). Withdrawals via most methods are processed within 4 business hours, and via bank wire within up to 2 days. The broker charges no fees, but if you withdraw from an account with no trading activity, a 10% processing fee is deducted, and intermediary bank charges are borne by the user.

iFX Brokers score and risk on Teagle

iFX Brokers' final score on Teagle is 1.98 out of 5, derived from only two sources: WikiFX 2.46 and Trustpilot 1.5; no Teagle expert or user scores have been recorded. Teagle Eye's risk index for this broker is 45 out of 100, in the "medium risk" category; the FSCA license and 9-year history keep it down, while weak credibility scores push it up.

iFX Brokers pros and cons

• Pro: active FSCA license and negative balance protection
• Pro: wide variety of accounts and a $10 minimum deposit
• Pro: MetaTrader 4 and 5 support and fast execution
• Con: no services for Iranians
• Con: no Persian language support
• Con: 10% processing fee on withdrawals from inactive accounts

Who is iFX Brokers suitable for?

According to Teagle's expert, iFX Brokers appeals to traders who are looking for deposit bonuses and the MetaTrader 4 and 5 platforms and who live in permitted countries. It is not a suitable option for residents of Iran. If you are outside Iran, weigh it against a more established competitor in the iFX Brokers vs HFM comparison .

Conclusion

iFX Brokers has good technical infrastructure and a variety of accounts, but it has explicitly excluded Iran from its services and its credibility scores are low. If you are permitted to use it, start with a small amount, pay attention to the 10% fee rule, make a test withdrawal and follow the investment risk warnings .