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INFLYX Review - is it scam or safe?

INFLYX Review - is inflyx.com scam or good forex broker?

RATING: 3 / 0 REVIEWS INFLYX
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INFLYX is a forex and CFD broker licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC) – a well known regulator, which along with the Financial Conduct Authority (FCA) in the UK harbors most brokers on the European market.

 

Trading account  Min. deposit Max. leverage Spread
Standard Account n/a 1:30 raw spread + $8/lot

 

INFLYX Advantages:

 

Sound regulation

 

INFLYX is a trade name of ICC Intercertus Capital Limited, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). 

 

 

A license issued by the CySEC ensures that the broker will abide by strict financial and ethical rules, so that you do not have to worry about the safety of your funds. 

 

The financial requirements range from a minimum operational capital of no less than 730 000 EUR to the obligation for the broker to file regular reports and to allow external audits.

 

Also all CySEC brokers should provide a negative balance protection to their clients and to keep their money in a segregated, protected form creditors, trust account. On top of that all CySEC brokers are obliged to participate in a client compensation fund, basically insuring the deposited funds for up to 20 000 EUR, payable in the unlikely event your broker files for bankruptcy.

 

So here you may also check our list of brokers regulated in Cyprus:

 

>>Forex brokers in Cyprus<<

 

Over 50 currency pairs and a good variety of CFDs

 

With INFLYX the choice of trading instruments includes over 50  currency pairs from major ones like Euro and USD to exotics like the offshore renminbi (CNY), the Philippine Peso (PHP) and the Hungarian Forint forint (HUF). 

 

And you may also trade CFDs with 14 different indices, representing all of the world’s major stock markets, as well as crude oil, precious metals and even crypto coins like Bitcoin, Ethereum and Litecoin. Here you may check our list of brokers, trading with bitcoin CFDs as well:

 

>>Bitcoin Forex Brokers<<

 

INFLYX accepts alternative payment methods

 

INFLYX accepts payments with a bank wire, but says that they are willing to discuss any other payment method, that might be more convenient to a client. For example many brokers accept payments with major cards like VISA and MasterCard, e-wallets like NetellerSkrill and PayPal and even bitcoins. Here you may check as well our list of brokers, where you can pay with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTrader4 and MetaTrader5 available

 

INFLYX offers a choice between two of the most widely used trading platforms - MetaTrader4 and MetaTrader5. Both are developed by MetaQuotes Software, and are highly reliable and versatile, featuring numerous market indicators and modifiable trading robots, called Expert Advisors, which can help you run algorithmic trading sessions. And both MT4 and MT5 are equipped with an excellent set of advanced charting tools, so here you may also check our list of brokers supporting the MT4 – the more popular of the two platforms: 

 

>>MT4 Brokers<<

 

INFLYX Disadvantages:

 

No demo account

 

We were not able open a demo account immediately so we can not comment on the spreads INFLYX offers. We just know that the broker takes a trading commission of 8 USD per standard lot round trip, which basically adds another 0,8 pips to the actual spread. In any case, we should note that we like spreads starting below 1,5 pips with a standard account and below 1 pip with a premium account. Here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conservative leverage

 

To its retail clients INFLYX offers leverage of up to 1:30, and this is in line with the guidelines adopted by the European Securities and Markets Authority (ESMA) in August 2018. Similar rules were adopted by the financial authorities in the U.S., Canada and Japan as well, and that basically leaves Australia the only major regulatory hub, where traders can still enjoy virtually unrestricted leverage. 

 

Here you may check our list of brokers regulated by the Australian Securities and Investments Commission (ASIC):

 

>>Brokers regulated in Australia<<

 

No information about the minimum deposit requirement

 

INFLYX does not specify what is their minimum deposit requirement. Just bear in mind that most brokers want you to deposit about 250 USD, while some big names like FBS and IG will let you start trading with virtually 5 USD or even less.

 

Conclusion:

 

INFLYX is a reliable broker, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). Unfortunately we miss some key information in their presentation, regarding their trading conditions and minimum deposit requirement. Still, the broker offers one of the best trading platforms – the MetaTrader4 and a great selection of trading instruments so we are giving them a good grade.

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Traders` reviews for INFLYX

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