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IFS Markets is a global online FX and CFD broker. The company has been operating in the market since 2008. It is regulated by one of the most respected authorities in the world, the Australian Securities and Investments Commission (ASIC). Thus, the broker has a good and credible reputation. The company is focused mainly on Australian clients. That is why it is little known in the global market. Nevertheless, the IFS Markets team serves clients from all over the world, except for residents from the United States, Canada, and Iran. Customer funds are held in segregated accounts with the National Bank of Australia, the leading bank of the country.
Trading conditions
IFS Markets clients can trade currencies, indices, and CFDs on commodities through the MetaTrader 4 (MT4) trading platform. Moreover, traders can obtain simultaneous access to several markets with the help of one platform. Each of them has its own benefits such as charts and up-to-date news reports. Besides, the broker uses the following trading platforms: MetaTrader 4 Mobile, WEB, and FIX API.
Through MT4, users have access to trading tools and signals, the MetaTrader market as well as the global trader community. However, clients should be aware that MT4 is incompatible with the MacOS versions later than Mojave 10.14 and will not run on MacOS Catalina 10.15 Update.
Trading instruments:
- Forex
- Commodities
- Indices
CFDs on commodities include gold, silver, and energy, while CFDs on indices - 14 of the most popular stock indices from markets all over the world.
IFS Markets account types:
- Standard account
- Pro account
- Demo account for beginners
With the help of a demo account, novice traders can try their hand at trading using virtual money.
In order to open a Standard account, traders must deposit at least A$5. This account type features competitive spreads for all major currencies. No commission is charged and the leverage level is 1:400. A Pro account is no different from a Standard one. It requires a minimum deposit of A$5 but has more competitive spreads starting from 0.3 pip (in this case, a commission fee will be charged).
Please note that IFS Markets may charge transaction fees for deposits and withdrawals depending on the payment method chosen. The transaction fee for depositing funds is around 2% (depending on the payment method).
Support service
IFS Markets clients can contact the support team by phone or email. The company has offices in Sydney and Kingstown. The broker also has a resource center aimed at keeping clients informed about the latest economic reports and market statistics. The content feed data is updated every 2 minutes and covers news from all financial markets.
Feedback from traders
There are both negative and positive comments from traders on the web. Investors complain about disruption to the system, problems with withdrawing funds, and poor support service performance. Some traders, on the contrary, note the high speed of order execution as well as the absence of cancellation of orders and problems with funds withdrawal (although they mentioned some rare delays).
Advantages and disadvantages
Advantages:
- good reputation of ASIC
- wide range of trading instruments
- MT4 functions meeting the needs of traders of different levels
- integration of FIX API, MAM, Zulu Trade
- no hidden commission fees
- training video courses and trading guides aimed at improving trading skills
- quick registration process
- great choice of deposit methods
- competitive commissions (increased spreads for non-commission accounts)
Disadvantages:
- long withdrawal process
- order failures
- negative reviews
