Infinox Review - Deposit, Withdrawal, Regulation

Infinox Review: Deposit, Withdrawal, Regulation and Trading conditions
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Account type  Minimum deposit Minimum trade size  Maximum leverage Spreads 
STP £100 0.01 1:300 from 1.2 pips on EUR/USD
ECN £1,000 0.01 1:300 from 0.4 pips on EUR/USD + commission £5.50/$7.50 per standard lot

 

Infinox Capital Ltd. offers two account types – STP and ECN. Both are for the still very popular MetaTrader 4 platform. The STP account  requires a minimum deposit of £100 or currency equivalent deposit, spreads from 1.2 pips and a minimum lot of 0.01. There is no commission.


The ECN account offers spreads from 0.4 pips and a minimum trade size of 0.1 lots. The minimum deposit is bigger than that of GO Trader - £1000. There is also a commission of £5.50/€6.50/$7.50 (Per 100k).

 

The broker allows all trading styles, including news trading, scalping, hedging and automated (EA) trading.

 

The company


Infinox Capital Ltd. is the new name of the Go Markets UK Trading Limited forex broker. It was established in 2009. Between then and 2014 it was using the brand name VantageFX, under an agreement with the Australian broker VantageFX, which had its own license from UK's Financial Conduct Authority (FCA). In 2014 it was rebranded to GO Markets UK.

The broker is based in London and regulated by the FCA. It also has offices in Melbourne and Shanghai. The company offers trading in 46+ currency pairs and CFDs on silver, oil and global indices, as well as physical bullion.


Security of funds


As per the strict requirements of the FCA regarding client funds that customer money be kept in segregated accounts, Infinox Capital does so – in  Barclays Bank PLC UK.

 

Furthermore, the broker is a member of the  Financial Services Compensation Scheme (FCSC), which provides brokers and customers alike with a safety net in case of company insolvency. Under the scheme, a compensation of up to £50 000 for eligible investments is available.

 

Another FCA requirement is that in order to prove good financial standing, the regulated brokers must hold net tangible assets amounting to at least €730 000.

 

Trading Conditions

 

Minimum initial deposit

Infinox Capital requires a minimum initial deposit of £100 to open an account of the GO Trader account. This is an average sum. AxiTrader (an Australian-regulated broker, which also holds an FCA license), requires an initial minimum deposit of $200.


Average spreads & Commissions

Infinox Capital offers floating spreads depending of the type of account. The one on the GO Trader account start from 1.2 pips, which is pretty much standard. For one of the most popular currency pairs – EUR/USD the spread is 1.5, which is in the upper end of average. At the same time, the spread on the GO Pure ECN account start at 0.4 pips. In theory they are much lower, but in practice for this type of account the broker charges a commission of $7.50 round turn and thus the costs for trading with this account amounts to at least 1.2 pips.

If we compare Infinox Capital to Axi Trader once more, we can see that the latter offers typical spreads of 1.4 pips on EUR/USD on its commission-free accounts. The average spread of AxiTrader on its ECN trading accounts is 0.4 pips, plus a commission of $7 round turn. If you need more information, you can look up and compare real-time spreads of 15 leading brokers.

 

Leverage

Infinox Capital offers a maximum leverage of 1:300, which is also in the average, though there are FCA-regulated forex brokers who offer higher leverage rates. AxiTrader, for example, offers leverage of up to 1:400 and FxPro – up to 1:500. In general, there are forex brokers offering even higher leverages of 1:3000 or even unlimited, like Exness. Here is a list of forex brokers offering a leverage of 1:500 or more.

Please, bear in mind that investing in over-the-counter derivatives is a risky business and the higher the leverage, the greater the risk of loss.

 

Trading Platform

Infinox Capital offers trading on a customized version of MetaQuotes Software's popular trading platform MetaTrader 4 (MT4), called MT4 One. In spite the recent massive upgrade of MT4's successor – MT5 and the final introduction of hedging on it, MT4 is still preferred by the majority of brokers and experienced traders. It provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). MT4 is also suitable for novice traders, thanks to its user-firendly interface and ease of use, and they can find their way around it fairly easily. The MT4 also has a web version and applications for mobile devices running Android and iOS.

 

MT4 One is also equipped with Expert Advisors, market manager and extras like Sentiment Trader, Alarm Manager and Session Map.

 

The broker also offers the Autochartist plugin for automated technical analysis and provides a VPS in partnership with 4XSolutions. The VPS is located in the same data-center as the broker's trading servers and liquidity providers - the Equinix LD4-EFX1. The VPS service costs £14.97 per month. It can be for free, if you fund your account with at least £1,000 or trade a minimum of 10 standard FX lots round turn per month.

 

Promotions

 

At the time of writing this review, Infinox Capital offers a 20% Deposit Bonus + $2 Rebate for STP accounts. In order to obtain it, you have to deposit at least GBP 500 (or the account currency equivalent) and opt-in to obtain the bonus by completing a form.

 

There is also a “Trading Tools Offer” for GO Markets accounts – for the Trading Central and the Autochartist tools. If you fund it with at least GBP 500 (or the account currency equivalent), you will get 1 trading tool. If you put GBP 1000 (or the account currency equivalent), you can receive both Trading Central and Autochartist.

 

Summary


Infinox Capital is a solid, well-regulated broker with average conditions. It offers trading in forex, CFDs and physical bullion.

 

Pros  Cons
Strong regulation No choice of trading platforms
MT4 available  No Islamic accounts
Advanced tools on MT4   
STP/ECN model   

 

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