For just a minimum deposit of $1.00, a trader could already start trading with IFS Markets; such a low minimum deposit for a brokerage that undergoes regulation by a trusted financial authority.
But of course, this is just an obvious come on. What really caught the attention of the review team is the absence of negative reviews. Most of what had been found relating to its services is the soundness of its Withdrawal and Deposit processes, its provision of commission-free accounts, FIX API trading, and of course the low minimum payment requirement.
To get a pulse on whether the good reviews about the firm are indeed legitimate, the review team had opted to conduct a review of its own to bring the readers a pointed and informed assessment of the brokerage’s capabilities. This review had focused on the following facets:
- The regulatory body that sanctions all of AAFX’s trading activities
- The trading instruments accessible through the firm
- The trading accounts the firm provides to its clients
- The trading platforms that AAFX offers
This review is a result of months spent with the IFS Markets. Throughout the period, the team had conducted an exhaustive review of its offers and services so as to aid the readers of this review to whether or not they should sign up for the brokerage.
About IFS Markets
An online trading firm, IFS Markets specializes in trading Foreign Exchange Currency pairs and CFDs. But what the brokerage really aims at being known for is its provision of an efficient and reliable customer support service.
The brokerage works on its reliability by declaring the regulatory body that it is sanctioned by. IFS Markets follows the stringent guidelines set by the Australian Securities and Investments Commission (ASIC).
IFS Markets is registered under the trading name, Forex Financial Services Pty. Ltd. and is among the companies under the umbrella of the IFS Group of companies.
While a global trading company, IFS Markets is not available for traders in the United States much like many of its contemporaries.
Offers and Services
Accessible Trading Instruments
A total of 60 foreign exchange currency pairs are availed of IFS Markets clients. In addition to this, raw spreads start from 0 on major currencies. Apart from Forex, the brokerage also gives its clients access to Indices, Commodities, metals, Crypto, and CFDs markets.
Available Trading Accounts
A Live Account in the context of IFS Markets are defined as being any of the following:
The ECN/STP Accounts (Pro Account)
For this account a charge of $3.50 is charged per lot per side is asked, making it commission based.
Standard Account
This type of account is Spread-based.
However, the review team had observed that the offerings for both accounts are somewhat similar. The review team’s experience leans toward the more negative given that trading with a Standard Account had only rendered bad trading conditions compelling the team to just enlist for the Pro Account.
Offered Trading Platforms
IFS Markets offers two trading platforms:
MetaTrader 4 (MT4)
The landmark product by trading solutions provider MetaQuotes, MetaTrader 4 is known for the offering of a myriad of features that help foster good trading conditions. Through the platform, traders are provided with real-time charts, a total of 30 Technical Indicators, 33 analytical objects, Expert Advisors, and notifications through SMS and email.
ZuluTrade
ZuluTrade is a trading platform meant for Social Trading. The most notable feature of this software is the ZuluRank which allows traders to know the rank of other traders in accordance to their trading history. ZuluTrade users are also given the capability of managing their accounts through the account management scheme that can be customized. This management scheme also has ZuluGuard, the platform’s risk management feature.
IFS Markets clients are also offered the Multi Account Manager or simply MAM. True to its name, the MAM technology allows for the coordination of multiple personal accounts and executes block trades across a number of MT4 accounts through a single account.
This is a smart feature from the IFS Markets as it fosters greater trading speed and over-all reliability.
A Financial Information Exchange API or FIX API is also provided. Through this additional feature, traders are given the capability of communicating between client and trader in real-time. Holistic control is given to clients to share without the need of a third party software. Trading experience can be customized through the FIX API.
Trading with IFS Markets
While the trading accounts have undeniably rendered unpleasant experiences, the matters stands that the following offerings are sound:
- The asset classifications that are being offered by the firm
- The reliable trading platforms that IFS Markets makes available
- The broker’s legitimacy through the regulatory body that it takes cues from
However, practicing further diligence in searching for more reviews about how IFS Markets works is still recommended.