IFC Markets

Introduction to IFC Markets

IFC Markets is a brokerage firm that has been in operation since 2006. It offers a wide range of trading instruments, including forex, commodities, indices, and stocks. In addition, the platform provides clients with the opportunity to trade Contract for Differences (CFDs) on a variety of financial instruments. IFC Markets is regulated by the British Virgin Islands Financial Services Commission (BVI FSC), which offers a certain degree of assurance to traders regarding the legitimacy of the platform.

Trading Platforms

NetTradeX

IFC Markets offers two in-house trading platforms, NetTradeX and MetaTrader 4/5. NetTradeX is a proprietary platform developed by IFC Markets. It is designed for CFD and forex trading and is known for its user-friendly interface and advanced charting tools. However, it lacks the community support and extensive add-on marketplace that some traders appreciate in more established platforms like MetaTrader.

MetaTrader 4/5

In addition to NetTradeX, IFC Markets also supports the MetaTrader 4 and MetaTrader 5 platforms. These platforms are widely used and recognized in the trading industry, known for their robust features, technical analysis tools, and automated trading capabilities. However, some users have reported difficulties with the integration of these platforms with IFC Markets, leading to occasional technical glitches.

Account Types

IFC Markets offers three types of accounts: Beginner, Standard, and Unlimited. The Beginner account is designed for novice traders, offering minimal trading volumes and simplified functionality. The Standard account is geared towards experienced traders and offers a wider range of trading instruments. The Unlimited account is for professional traders, offering full functionality and the widest range of trading instruments. However, the firm’s account structure has been criticized for being overly complicated and not offering enough differentiation between account levels.

Customer Service

IFC Markets provides customer service through email, live chat, and phone support. While the firm offers support in multiple languages and aims to provide 24/7 assistance, there have been complaints about slow response times and lack of effective resolution to customer queries.

Regulation and Safety

As mentioned earlier, IFC Markets is regulated by the BVI FSC. While this provides some level of security, it is worth noting that the BVI FSC is not considered a top-tier financial regulator. Therefore, the protection offered to traders is not as strong as it would be with brokers regulated by more reputable authorities like the UK’s Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC).

Conclusion

IFC Markets offers a wide range of trading instruments and platforms, which may appeal to a broad spectrum of traders. However, the firm’s regulatory status, customer service issues, and complicated account structure may deter some potential clients. It is recommended that traders do thorough research and consider all factors before choosing to trade with IFC Markets.