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IFA FX Review - is it scam or safe?

IFA FX Review - is ifafx.com scam or good forex broker?

RATING: 1.5 / 2 REVIEWS ForexBrokerz IFA FX
IFA FX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $1 0.01 1:100 From 0.8 pips

 

The broker claims that it offers a variety of account packages to suit all traders of all levels of experience, but we did not find information about those, so we assume that there is a single account type, which we will refer to as “Standard” for convenience.

 

In addition, IFA FX offers swap-free accounts for clients of Islamic belief and says that no maintenance fees apply, but the minimum investment required is $500. As regards the Standard account type, there is no minimum initial deposit set for e-payments, but is you use bank wire, you will need to start out with at least $200.

 

According to the limited information provided on the IFA FX’s website, the Standard account type is commission-free with variable spreads, leverage up to 1:100 and the option to use micro tradeable lots.

 

IFA FX’s conditions seem attractive – trading costs seem low, there is no minimum initial deposit required, and besides, the broker claims to follow a pure STP model. But things with FX brokers oftentimes are not what they seem. We could not test IFA FX’s demo account (there is no MT4 available for download, and when we opened a demo account the activation link sent by the broker did not work), which immediately raised a red flag. Another fact that makes us suspicious about IFA FX is that its registered office is in Belize.

 

The Company. Security of Funds

 

Company

Country

Regulation

IFA FX ltd.

Belize

N/A

 

IFA FX is one of the many forex and CFD brokerages that are registered offshore. We do not recommend investing with non-regulated or offshore brokers in general, and this one specifically. These companies can basically do whatever their like with your trades and your money. That is why you’d better select among FCA-regulated brokerages, or companies licensed in Cyprus, where the respective financial watchdogs are always on alert and your money will be safer.

 

Trading Platforms

 

IFA FX supports the most widely used forex trading platform – MetaTrader 4 (MT4), available as a desktop version and mobile apps. However, as we have mentioned above, IFA FX’s is not available for download.

 

The MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting tools and trading automatization options with the most commonly used trading robots (EAs), as well as with options to create new ones.

 

Keep in mind that the broker may, at its sole discretion, disable specific EAs considered to be violating company risk management parameters.

 

Methods of Payment

 

IFA FX supports the following payment methods: credit/debit cards, bank wire transfer, Skrill, Neteller.

 

Conclusion

 

IFA FX is an offshore MT4 brokerage that has not shared much relevant information on its website. Apart from the fact that it is not properly regulated, it does not offer demo accounts. To sum up the above:

 

 

Pros Cons
MT4 available Not regulated
Commission-free trading No demo accounts
  Limited info on website

 

Latest news about IFA FX
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Traders` reviews for IFA FX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

هذه الشركة ifa-fxنصابة سرقت250الف

هذه الشركة ifa-fxنصابة سرقت250الف دولار وانا ابحث عنها أريد حقى

Translated by Google:

This company ifa-fx steal stolen 250 thousand dollars and I am looking for I want my right

Apdulaziz mjrshi 11/10/2019

withdrawal processed

Your withdrawal was processed late due to a lack of id documents on your account.

Please contact us directly before leaving comments on third party websites.

Michael Smitz

IFA-FX.COM

Michael Smitz 01/12/2019

Al Riyadh

إنا إسمosman saed أنا من يوم بدأت مع شركة هدأ عندي سنة ونوس
وفي حسابي كان عندي 5499.56دولار بعد ما وسأل حسابي هذا المبلغ سخروا من حسابي و
وكن هونك مديرحسبات ومستندات اسم عمر المصري ورقم الهاتف المحمول حقو0
00447455919228

Translated by Google:

I name osman saed from the day I started with a company I calmed down for years and months
In my account I had $ 5499.56 after what I asked my account for that amount they made fun of my account and
Hoonk was the account manager and the name of Omar Al Masri and the mobile phone number 0
00447455919228

Kaman saed 12/19/2018
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