IFC Markets Review 2024: Read This Before Opening an Account

IFC Market homepage

Summary of IFC Markets Forex Broker

Established in 2006 and based in Cyprus, IFC Markets is a forex and CFD broker with a reputation for reliability and transparency. It was also one of the first brokers to offer continuous CFDs on commodities, indices, and stocks.

IFC Markets has secured a US parent and earned multiple awards. It is regulated by the British Virgin Islands Financial Services Commission (BVIFSC) and backed by professional insurance. It also ensures the security of client funds through negative balance protection.

IFC Markets earns a TB (Trading.Biz) evaluation score of 6.3 after being carefully reviewed across multiple parameters. 

Pros and Cons

Evaluating High Impact Factors

Trade with IFC Markets If:

• You want an innovative and reliable forex broker
• You want access to multiple trading assets
• You’d like to test different trading strategies
• You want access to great educational resources

Don’t Trade with IFC Markets If:

• You’re looking to generate passive income
• You want a broker that is available to a large market

Verified Office Address

Verified Office of IFC Market

IFC Markets is located at Arch. Leontiou 187, 4th floor, 3020, Limassol, Cyprus.

Regulation and Security

Regulation and Security of the IFC Market

Regulation

IFC Markets is overseen by reputable authorities, like:

• The Cyprus Securities and Exchange Commission (CySEC)
• The British Virgin Island Financial Services Commission (FSC)

These regulators ensure the broker adheres to legal requirements and keeps its clients’ funds secure.

Security

IFC Markets protects its clients’ funds by holding them in trust accounts that are entirely separate from the company’s funds.

Electronic payments through the platform are processed using SSL (Secure Socket Layer) technology and are encrypted to guarantee security. This keeps your payment information safe and private.

Expert Opinions on IFC Markets

BD Droid Tech Review of IFC Market 

BD Droid Tech spoke extensively about IFC Markets’ features, including its numerous trading instruments, supported languages, trading accounts, spreads, and trading tools.

SA Shares Review of IFC Market 

SA Shares likewise highlighted the platform’s leading features, such as trading assets and trading accounts. They conclude:

“IFC Markets has established itself as a distinguished player in the forex industry. IFC Markets offers a dynamic environment for both novice and established traders.”

Expert Review of IFC Markets

I was very satisfied with the wide variety of trading assets and the Personal Composite Instrument (PCI) on IFC Markets.

However, the customer support was a bit of a letdown. They did get back to me and resolved my queries, but their response times were slow.

Signing Up with IFC Markets

Signup process for IFC Market

To sign up with IFC Markets, head to the official site and follow these steps:

• Provide your full name
• Add your email address
• Create a password
• Select your country of residence
• Enter your mobile number
• Click “Register”

To save time, you can also sign up through Facebook.

After signing up, you still need to verify your account. This will allow you to access all the platform’s features. To do this, simply:

• Log into your IFC Markets account
• Provide your personal information
• Submit the documents they request
• Follow up on any additional steps

IFC Markets Dashboard

IFC Markets dashboard

I was pretty impressed with the dashboard’s clean design. Its interface was intuitive and easy to navigate, and I was able to locate every feature quickly.

From the dashboard, I could access:

• Account overview and account balance
• Operation history
• Transaction records
• Available trading platforms
• Trading tools
• PAMM accounts
• Educational materials
• Customer support
• News and analytics

Deposits and Withdrawals on IFC Markets

Deposits

IFC Markets requires a minimum deposit of just $1, making it affordable for all traders, no matter their budget.

Most deposit options are free, but a few do incur a charge.

Depositing funds on IFC Markets

Each deposit option also comes with different processing times. Some funds show up in your account instantly, while others can take up to 3 business days.

Here are the deposit methods available on IFC Markets:

• International Bank Transfers: $100 minimum deposit, 2-3 business days to process, deposit fees vary depending on your bank
• E-wallets (Skrill, Neteller): Instant processing time
• Credit and Debit Cards: $100 minimum deposit, instant processing, no deposit fees
• Interac e-Transfer: $100 minimum deposit, processed within one business day, no deposit fees
• Cryptocurrencies (BTC, USDT, ETH): Instant processing and no deposit fees

Withdrawals

Withdrawing funds from IFC Market

To withdraw funds from your IFC Markets account, simply fill out the withdrawal form on the website. Depending on your payment method, withdrawals can take up to 5 business days.

IFC Markets charges fees on withdrawals, with the amount varying depending on the payment method.

There are a number of withdrawal options to give you more flexibility and convenience in accessing your funds:

• Wire Transfer: $50 minimum withdrawal, $20 commission plus bank fees, about 2 – 3 business days to process
• WebMoney: $1 minimum withdrawal, 0.8% commission, processes in minutes
• Bank Cards: $10 minimum withdrawal ($1,000 maximum), varied commissions, about 1 – 5 business days to process
• Perfect Money: $1 minimum withdrawal ($5,000 maximum), 0.5% commission, processes in minutes
• Cryptocurrencies: $20 minimum withdrawal, varied commissions, processed within one business day
• Transfers Between Accounts: $1 minimum, zero commission, processes in minutes
• Mobile Money: $5 minimum withdrawal ($500 maximum), $1 to $2 commission

Trading Conditions on IFC Markets

Trading conditions on IFC Markets

IFC Markets offers trading conditions that cater to the needs of different types of traders:

• Multiple trading platforms (MT4, MT5, and NetTradeX)
• Spreads starting at 0.4 pips
• Islamic accounts (swap-free accounts)
• VIP trading accounts with dedicated account managers
• Innovative trading methods, like synthetic instruments and the GeWorko method

Platforms on IFC Markets

Demo Accounts

IFC Markets offers demo accounts for traders who want to practice different techniques without risking any real funds. These accounts are also great for beginners who want to get a feel of the trading environment before engaging in live trading.

Live Accounts

There are three types of live accounts on IFC Markets:

• Micro Account: A beginner-friendly account that enables micro-lot trading. Perfect for traders who prefer sticking to minor positions and smaller deposits (as low as $5).
• Standard Account: Suitable for experienced traders, offering different leverage and spread options.
• VIP Account: Comes with top-notch features, lower spreads, and personalized services. Ideal for professional traders.

How to Start Trading on IFC Markets

How to start trading on IFC Markets

To start trading on IFC Markets, log into your account and click the “Deposit” option. After funding your account, choose between a live account or a demo account and start trading.

I would advise against starting with the live option unless you’re fairly experienced.

Either way, you should:

• Analyze and research the market
• Choose a trading platform (NetTradeX, MT4, or MT5)
• Place and manage a trade position
• Review your trade

Useful Tools for Traders on IFC Markets

Useful tools for traders on IFC Markets

There are various tools on IFC Markets that traders will find highly valuable, including:

• Trading Calculators: For making quick calculations related to your trades
• Analytical Tools: To help you study the financial market and make knowledgeable decisions
• Personal Composite Instrument (PCI) Technology: Enables the creation of custom instruments for trading with clients
• Economic Calendar: Keeps you updated on notable events and releases that could influence the market
• MT4 and MT5 Platforms: Renowned platforms with advanced features that can improve your trading experience

IFC Markets offers its users a comprehensive range of trading assets. However, the availability of these assets may differ based on your location and account type.

Investing Opportunities on IFC Markets

Copy Trading on IFC Markets

IFC Markets has a copy trading platform (IFCM Invest) that allows users to select seasoned traders, transfer funds, and earn based on those experts’ trading activities.

In my opinion, that’s a win-win. Experienced investors can amplify their earnings, while newer users can trade with the pros.

You can also earn up to 7% annual interest on your free margin. That means the funds sitting in your account can fetch you an additional profit instead of remaining idle.

IFC Markets Affiliate Program

IFC Markets affiliate program

IFC Markets has an affiliate program that gives its partners a chance to earn commissions by referring new clients to the broker. It has a few attractive features:

• Two-Tiered System: Earn commissions from referred users, then earn up to 50% of their commission when they recruit someone to the platform
• Commission Structure: Earn up to $15 per lot traded by your referred clients
• No Upper Limit on Earnings: There is no barrier to how much commission you can make through referrals

Conclusion

IFC Markets has been at the top of the pyramid for over 17 years, a testament to its reliability and excellence in the forex market. And it continues to improve its services, ensuring that it will reach even greater heights.

The platform offers multiple ways to earn, various trading tools, and instant trade execution – all while prioritizing the security of its clients’ funds.

While IFC Markets is primarily a forex and CFD broker, it has also expanded into cryptocurrencies. However, its market range still pales in comparison to other forex brokers.

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