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IFS Markets Review - is it scam or safe?

IFS Markets Review - is ifsmarkets.com.au scam or good forex broker?

RATING: 3 / 1 REVIEWS ForexBrokerz IFS Markets
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Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Standard  $1 1:400 1.1 pips – 1.5 pips
Pro  $1 1:400 raw spread + commission

 

IFS Markets is an Australian forex brokerage. It holds an ASIC license and offers its clients a choice of two account types and trading on the MetaTrader4. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with IFS Markets.

 

 

IFS Markets Advantages:

 

Sound regulation

IFS Markets is a brand, owned by Forex Financial Services Pty Ltd., which also operates DV Markets. The company is registered in Australia and regulated by the Australian Securities and Investments Commission (ASIC) – one of the most respected financial watchdogs worldwide.

 

Click on the image to view larger.

 

Sound regulation is key for the security of any investment on the forex and CFD markets and all legit and properly licensed brokers like IFS Markets are obliged to follow strict fiscal and ethical rules. 

 

For example, ASIC requires licensed financial services providers to hold at least AUD 1 000 000 in net tangible assets and to implement stringent internal procedures for risk management, staff training, accounting and audits. The regulator also requires all client funds to be held at fully segregated client trust accounts, so that it is guaranteed that this money will not be used to pay back creditors, if a licensed broker becomes insolvent.

 

Generous leverage, no initial deposit requirement

The maximum ratios offered by IFS Markets are quite high, reaching 1:400. While many traders consider this as a good opportunity for quick and big profits, it is certainly not for everybody. Keep in mind, trading with high leverage does not guarantee better results – in fact, most newbies lose more than they have deposited this way.

Furthermore, we should point out that one can open an account with IFS Markets by investing just $1. The broker has set no minimum deposit requirement, which allows anyone to enter the forex market and try out their services.

 

Trading on the MT4, demo spreads not bad

As was mentioned above, the broker offers access to the ever-popular MetaTrader 4 platform (MT4). This platform is highly praised by traders of all skill levels for its ease of use, functionality and lightness. It has one of the best charting packages, but probably the most prominent MT4 feature is the automated trading, known as Expert Advisors (EAs).

 

 

>> Check out the top-rated MT4 brokers <<

 

 

Besides, when we tested IFS Markets’ MT4 in demo mode, we found the benchmark EUR/USD spread floating around 1.2 – 1.5 pips, which is more or less within the market averages.

 

 

Click on the image to zoom in.

 

 

IFS Markets Disadvantages

 

Spreads not disclosed on website

IFS Markets has not fully disclosed its trading conditions on the website, which doesn’t leave a good impression, especially on the part of a licensed financial services provider. All decent brokerages specify the reference spreads on the websites as a part of their transparent pricing policy.

 

No stock and cryptocurrency CFDs

This is not a major flaw, yet we decided to mention it. When we tested the broker’s platform, we noticed that IFS Markets’ CFD offering is not as comprehensive as that of other brokerages. It offers trading in CFDs on precious metals, commodities and indices like UK100, US30, however one cannot trade any stocks, nor cryptocurrencies like Bitcoin.

 

 

Conclusion

 

Overall, IFS Markets appears like a solid forex broker – they are licensed by ASIC, which guarantees their compliance with the laws and reliability, and the trading conditions seem quite good.

 

Below, you may also check out our list of recommended forex brokers that are also licensed in Australia:

 

 

>> Find the best ASIC-licensed brokers <<

 

 

To sum up the review on IFS Markets in a few words:

 

Pros Cons
Licensed in Australia Spreads not disclosed on website
Generous leverage No stock and crypto CFDs
Trading on the MT4, demo spreads not bad  
Low initial deposit  

 

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Traders` reviews for IFS Markets

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