Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is IFC Markets？

IFC Markets is an international online broker that provides a wide range of financial instruments and trading services to clients worldwide. The company offers various trading instruments, including currency pairs, commodities, indices, stocks, and cryptocurrencies through multiple trading platforms, including NetTradeX, MetaTrader 4, and MetaTrader 5. However, IFC Markets operates as an unregulated broker, and traders should exercise caution and conduct thorough research before engaging in any trading activities.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

IFC Markets offers a wide range of trading instruments, multiple trading platforms, and educational resources, providing traders with flexibility and opportunities for learning. The availability of various deposit and withdrawal methods, as well as 24/7 customer support, adds convenience for traders.

However, the lack of regulation raises concerns about investor protection and the reported instances of scams and withdrawal issues highlight potential risks. The limited information on spreads and commissions may also make it difficult for traders to assess trading costs accurately.

Please note that the information provided is based on the available data and may not reflect the complete picture of the pros and cons of IFC Markets. It's always recommended to conduct thorough research and exercise caution when choosing a broker for trading activities.

IFC Markets Alternative Brokers

There are many alternative brokers to IFC Markets depending on the specific needs and preferences of the trader. Some popular options include:

• Trading 212 - for traders seeking a user-friendly platform with a wide range of tradable instruments and a commission-free trading model.

• TrioMarkets - for experienced traders looking for competitive spreads, multiple account types, and access to various trading platforms.

• XGLOBAL Markets - for traders who prioritize competitive pricing, fast execution, and a diverse range of financial instruments for trading.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is IFC Markets Safe or Scam？

IFC Markets is a forex and CFD broker that holds licenses from various regulatory authorities, including CySEC (Cyprus Securities and Exchange Commission), FSC (British Virgin Islands Financial Services Commission), and LFSA (Labuan Financial Services Authority). However, the CySEC license is exceeded, the FSC license is from an offshore jurisdiction, and the LFSA license is a suspicious clone.

It's important to note that having multiple licenses does not necessarily guarantee the safety or legitimacy of a broker. Traders should exercise caution when dealing with brokers that have offshore licenses or licenses from less reputable jurisdictions. It's recommended to conduct thorough research, consider the broker's reputation, and carefully assess the risks before engaging in any trading activities.

Market Instruments

IFC Markets provides a wide range of trading instruments to cater to the diverse needs of its clients. Traders can access over 650 instruments, including currency pairs, precious metals like gold and silver, continuous index CFDs, stock CFDs, and cryptocurrency CFDs.

Currency pairs offer opportunities to trade major, minor, and exotic pairs, allowing traders to participate in the global forex market. Precious metals provide an alternative investment option and a hedge against inflation. Continuous index CFDs enable traders to speculate on the performance of popular stock indices, while stock CFDs allow for trading on the price movements of individual company shares. Additionally, the inclusion of cryptocurrency CFDs allows traders to gain exposure to the volatile and rapidly evolving digital asset market.

Accounts

To meet different types of investors' investment needs and trading experience, IFC Markets offers two live account types. The Beginner account is designed for novice traders and requires a minimum deposit of 1 USD, 1 EUR, or 100 JPY. This account type provides access to a range of trading instruments and features, allowing beginners to start their trading journey with a smaller initial investment.

The Standard account, on the other hand, is suitable for more experienced traders and requires a minimum deposit of 1000 USD, 1000 EUR, or 100,000 JPY. It offers additional benefits and features, including access to more trading instruments, tighter spreads, and personalized customer support.

In addition to live accounts, IFC Markets also offers demo accounts for practice and testing strategies, as well as Islamic Accounts/SWAP-free accounts for clients who adhere to Islamic finance principles. These account options provide flexibility and cater to the diverse needs of traders at different skill levels.

Leverage

IFC Markets provides its clients with leverage options of up to 1:400. Leverage allows traders to control larger positions in the market with a smaller amount of capital. With a leverage ratio of 1:400, traders can amplify their potential profits or losses by 400 times. While leverage can enhance trading opportunities, it is important to note that it also carries higher risks. Higher leverage increases the potential for both gains and losses, and traders should exercise caution and employ risk management strategies when utilizing leverage.

IFC Markets' offering of high leverage provides traders with the flexibility to adjust their trading strategies and access a larger market exposure, but it is crucial for traders to have a thorough understanding of leverage and its implications before engaging in leveraged trading activities.

Spreads & Commissions

IFC Markets offers competitive spreads to its clients. Traders have the option to choose between fixed spreads and floating spreads. The fixed spreads start from 1.8 pips, providing traders with a clear and consistent cost of trading. On the other hand, the floating spreads start from as low as 0.4 pips, allowing traders to potentially benefit from tighter spreads during periods of market volatility or when liquidity is high.

One advantage of trading with IFC Markets is that they do not charge any hidden commissions on trades. This means that traders can have greater transparency and clarity regarding their trading costs. By offering competitive spreads and transparent fee structures, IFC Markets aims to provide traders with a cost-effective trading environment.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that spreads and commissions can vary depending on market conditions, account type, and trading platform. It is always advisable to check with the broker directly for the most accurate and up-to-date information regarding spreads and commissions.

Trading Platforms

IFC Markets offers traders NetTradeX, the market-leading MT4 and MT5 trading platforms. Both MT4 and MT5 are the most popular forex trading platforms on the market, and both support iOS, Android, and tablet versions, allowing traders to trade flexibly. NetTradeX is IFC Markets' proprietary trading platform, offering a user-friendly interface and a range of advanced trading tools. It is designed to cater to the needs of both beginner and experienced traders.

MT4 and MT5, on the other hand, are popular and widely used platforms in the industry. They offer comprehensive charting capabilities, advanced order management tools, and a wide range of technical indicators and expert advisors for automated trading.

The availability of multiple platforms allows traders to choose the one that best suits their trading preferences and strategies.

See the trading platform comparison table below:

Please note that this information is subject to change, and it's always recommended to verify the availability of specific trading platforms with the respective brokers directly.

Deposits & Withdrawals

IFC Markets offers a diverse range of deposit and withdrawal options to cater to the needs of its clients. Traders can choose from various methods such as International Bank Transfer, bank cards (Visa/MasterCard), Pasargad Novin, Cryptocurrencies, TopChange, Perfect Money, Boleto, Bitwallet, WebMoney, ADVCash, and Fasapay.

IFC Markets minimum deposit vs other brokers

The minimum deposit and withdrawal amounts, fees, and processing times may vary depending on the chosen method. It is recommended to refer to the provided screenshots or consult the IFC Markets website for detailed information on each payment option.

Customer Service

IFC Markets is committed to providing comprehensive customer support to assist its clients. With 24/7 availability, traders can reach out to the support team through various channels, including 19 languages live chat, phone, email, Skype, WhatsApp, Telegram, Messenger, or by requesting a callback. This wide range of communication options ensures that clients can choose the method that is most convenient for them.

Additionally, IFC Markets maintains an active presence on popular social media platforms such as Twitter, Facebook, Instagram, YouTube, and LinkedIn, allowing clients to stay updated on the latest news and developments. Furthermore, an FAQ section is available on the website, providing answers to frequently asked questions and assisting traders in finding quick solutions to common queries.

Overall, IFC Markets' customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Education

IFC Markets places great emphasis on providing educational resources to support traders of all skill levels. Their educational offerings include a variety of materials designed to enhance traders' knowledge and skills. Video tutorials are available, offering step-by-step guidance on various trading topics. Additionally, Forex and CFD trading books provide in-depth information and insights into market analysis, trading strategies, and risk management.

Traders can also benefit from the Trader's Glossary, which contains a comprehensive list of terms and definitions commonly used in the financial markets. For those who seek a more structured learning experience, the IFCM Trading Academy offers courses tailored to different levels of expertise, including beginner, intermediate, and expert.

User Exposure on WikiFX

On our website, you can see that some reports of scams and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

In conclusion, IFC Markets offers a diverse range of trading instruments, multiple trading platforms, and educational resources, providing traders with opportunities for growth and flexibility. The availability of various deposit and withdrawal methods, along with responsive customer support, adds convenience to the trading experience.

However, the lack of regulatory licenses and reports of scams and withdrawal issues raise concerns about the safety and reliability of the broker. Traders should carefully evaluate the risks associated with trading on an unregulated platform and consider alternative options with stronger regulatory oversight.

Frequently Asked Questions (FAQs)

What is World Forex？

World Forex, a brokerage firm based in Saint Vincent and the Grenadines and operates all over the world including countries such as Thailand, British, Saint Lucia and Russia. It provides a variety of market instruments, including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency, to traders globally. However, it's important to consider that World Forex is currently under no valid regulations from any recognized authorities.

In the following article, we will analyze the characteristics of this broker from multiple perspectives, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also make a brief summary so that you can understand the broker's characteristics at a glance.

Pros & Cons

World Forex spells strength with a variety of offerings that cater to traders of all levels. They extend a selection of multiple account types, suiting diverse trading styles and strategies. The popular MT4/5 trading platforms, with their wide range of tools and features, are available to users across different devices. The acceptable minimum deposit at just $1 and the provision of floating spreads make trading accessible and competitive. Further benefits include abundant customer support channels for comprehensive assistance, an option for a demo account for risk-free practice, and flexible leverage ratios ranging 1:33- 1:1000 catering to risk-tolerant and risk-averse traders alike.

However, potential traders need to be aware of a few aspects. The most significant concern is that World Forex is unregulated, which can raise doubt over its credibility and security measures. Moreover, it doesn't accept clients from certain jurisdictions due to regulatory considerations.

Is World Forex Safe or Scam？

When considering the safety of a brokerage like World Forex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

• Regulatory sight: The broker operates with an unregulated status, signifying potential risks as it lacks the assurance of full protection for traders trading on its platform.

• User feedback: You can gain valuable insights into the experiences of other clients by reviewing their opinions and feedback about the brokerage. It's advisable to look for these reviews on trustworthy websites and discussion platforms to ensure the credibility of the information.

• Security measures: World Forex prioritizes security through anti-money laundering and privacy policies, ensuring compliance with financial regulations and protecting clients' personal data. These measures in some extent enhance the safety and confidentiality of the trading environment.

Ultimately, the decision of whether or not to trade with World Forex is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

World Forex offers a comprehensive range of market instruments, including:

Forex: The broker enables access to a wide variety of 52 currency pairs, from major to exotic, for forex trading.

CFDs for American Shares: Trade Contracts for Difference (CFDs) on U.S. stocks with this broker which allows you to speculate on price movements without owning the underlying assets.

Precious Metals: Investment options in gold and silver, commonly considered safe-haven assets is another choice.

Oil: Opportunities to trade in the oil market, including WTI and Brent Crude.

Cryptocurrency: Trading access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.

This diverse array of instruments caters to the preferences and strategies of traders, offering exposure to various financial markets.

Account Types

World Forex presents a wide array of account types, each serving different trading needs. They offer a Demo Account for practice and skill development, alongside various other accounts named W-CENT-fix, W-CENT, W-PROFI-fix, W-PROFI, W-CRYPTO, and W-DIGITAL. These accounts vary in features and are tailored to suit different trading scenarios and preferences.

Uniquely, World Forex has kept the entry barrier minimalistic, with a petite minimum deposit requirement of only USD 1 across these accounts. This makes World Forex's offerings readily accessible to a broad range of individuals interested in exploring the trading universe.

Furthermore, Islamic or 'swap-free' Account is also available. Traders just need to choose a trading account like W-PROFI or W-CENT and simply tick the 'swap-free' option during the account opening process.

Leverage

World Forex provides its clients with a dynamic trading leverage structure, which varies significantly from 1:33 to a whopping 1:1000. The concept of leverage in trading means that traders can essentially 'borrow' funds to place larger trades than their actual deposit. The dynamic range in leverage of this broker lets traders pick a comfortable risk level while allowing potentially higher returns.

However, it's also important to note that while higher leverage can lead to amplified profits if the market moves in favor, it equally amplifies the potential losses if the market takes a downturn. Hence, effective risk management is crucial while using leverage.

Spreads & Commissions

World Forexs wide array of accounts feature different types of spreads and commission structures.

Both the W-CENT-fix and W-PROFI-fix Accounts provide a fixed spread starting from 1.8 pips and impose no commission.

The W-CENT and W-PROFI Accounts present a floating spread starting from 0.6 pips, again with no commission charged.

Unique W-CRYPTO Account offers a floating spread beginning from 0 pips, but with a 0.5% commission involved.

Lastly, W-DIGITAL Account users experience a fixed spread starting from 1.8 pips specifically for 'Digital contract 0-100', alongside a hefty 40% commission for early closing, which applies exclusively to American digital contracts.

Trading Platforms

World Forex provides excellent versatility in terms of platform accessibility by offering MT4/5 renowned trading platforms, across a variety of devices and operating systems. Whether you're a Windows user, a macOS patron, an Android enthusiast, an iOS adherent, or even a Linux user, you can flawlessly operate and engage with your trading strategies. This broad compatibility ensures that trading activities remain uninterrupted and convenient, regardless of the operating system used by the trader. From desktop to handheld devices, World Forex makes seamless trading a reality, enabling traders to stay connected with markets anytime, anywhere, and through any device.

Trading Tools

World Forex provides traders with a set of powerful trading tools designed to enhance their trading experience.

First and foremost, their Economic Calendar is a key instrument that keeps traders informed about global economic events, allowing them to make well-informed trading decisions.

To facilitate uninterrupted and automated trading, they offer Virtual Private Server (VPS) services, ensuring consistency in trade execution without interruptions.

Next on the roaster is the MQL5 signal — a feature that allows traders to copy trades from successful signal providers, beneficial for those who may lack time to research and analyze the markets.

Last but not least, the Forex calculator enables traders to calculate various trading parameters with precision, such as margin requirements, profit, and conversion rates.

Copy Trading

World Forex enhances the trading experience by offering a “Copy Trading” option, which is a phenomenal feature particularly for novice traders or those who wish to diversify their strategies. With this feature, users have the advantage of copying the trades of experienced, successful traders directly into their own account.

This can not only save substantial time required for market analysis, but also helps new traders learn by observing strategies used by experienced ones.

Deposits & Withdrawals

World Forex provides diverse modes for transactions, ensuring convenient trading for clients.

The broker accepts Bank cards and Internet banking, adhering to users who prefer traditional methods of transactions. Moreover, modern Payment systems are also supported, including popular ones like Apple Pay and Google Pay. For large transactions, Bank transfer facilities are readily available. These avenues support different currencies, enhancing global accessibility.

Notably, each method has its specific minimum deposit request, processing time, and commission charges. Traders interested in exploring these specifics can visit the broker's official website at below link reach out to their broker directly for personalized assistance.

https://wforex.com/payment

Customer Service

World Forex optimizes client communication with multiple contact channels. Clients can get in touch with World Forex via Phone or Email for personalized assistance. The broker's physical Address for different branches is readily available for those looking for direct engagement. For details you can visit https://wforex.com/contacts.

They can also opt for real-time responses through the live chat feature. More so, World Forex extends its reach to various Social Media platforms such as Facebook, Twitter, Instagram and Trading View.

Lastly, the Contact Us form on their website offers an easy way to send in queries, suggestions, or feedback.

Education

World Forex is commendable in its approach to educating its traders. Included in their educational resources are the 'Knowledge Base' and the 'Glossary'.

The Knowledge Base is an extensive collection of articles and information crucial to understanding various aspects of trading. It is a great starting point for novices, covering topics from fundamental concepts to complex trading strategies.

The Glossary, on the other hand, is a comprehensive list of trading terminologies, assisting traders in understanding complex terms used in the trading world.

Together, these resources equip traders with the essential tools for navigating the trading landscape effectively and confidently.

Conclusion

World Forex, a brokerage firm based in Saint Vincent and the Grenadines who also operate in British, Russia, Thailand and Saint Lucia, offers a range of market instruments including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency.

However, potential investors should be wary of the fact that World Forex is currently unregulated. This represents a major red flag as regulated brokers conform to strict financial oversight, thereby protecting clients from potential misconduct.

As such, those considering World Forex as their broker should tread carefully, conduct thorough research and consider alternative, well-regulated brokers that prioritize transparency, security and client protection.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.