iFX Brokers

Regulation

iFX Brokers Holdings (Pty) Ltd is a South African Financial Services Provider authorised by the Financial Sector Conduct Authority (FSP 48021) under the FAIS Act, and holds an Authorised Over-the-Counter Derivative Provider (OTC/ODP) designation for issuing CFDs under the Financial Markets Act, 2012. The use of the website is governed by South African law. Because the broker is locally regulated, an unresolved complaint can be escalated to the FAIS Ombud after the broker's own procedure. Services are not offered to residents of the EU, United Kingdom, United States, Canada and several other jurisdictions.

Platforms and instruments

Tradeable instruments cover forex, metals, energy and indices. iFX Brokers Holdings (Pty) Ltd is the issuer of the CFDs and acts as counterparty to client trades. Negative balance protection is applied: after a stop-out the account balance is reset to zero and cannot go negative.

Account types

• Standard: deposit from $10, spread from 1.3 pips, no commission
• Premium: deposit from $250, spread from 1.0 pip, no commission
• VIP: deposit from $1,000, spread from 0.5 pips, commission $6 per lot
• Raw: deposit from $250, spread from 0.0 pips, commission $6 per lot, MetaTrader 5
• Cent: deposit from $10, spread from 1.6 pips, forex only, cent lots

Leverage is selectable up to 1:500 on the standard accounts and up to 1:1000 on the Cent account. Minimum trade size is 0.01 lots and order execution is market execution on London servers. Account base currencies are ZAR, USD, GBP and EUR; the Cent account also offers USC.

Payments for clients from South Africa

Local South African deposit methods include Payfast, Ozow and First National Bank transfers, all in ZAR. Deposits carry no broker fee, except bank wire at 2.5% of the amount, and are instant. The minimum deposit is $10 by card, Payfast or Ozow; Neteller, Skrill and crypto require a minimum of $250. Withdrawals are paid only to a bank account in the client's own name, regardless of the deposit method used.

Withdrawal

Withdrawals are requested in the myiFXBrokers client area and paid to a bank account in the client's own name; a joint account is accepted if the client is a mandated signatory. A bank account is verified once, which can take up to 24 business hours. Withdrawals are processed during working hours, Monday to Friday: for South African clients typically within 2-4 hours, while international withdrawals are processed immediately but can take up to five working days to reach the bank.

Localisation and support

The website is in English, the primary language of financial services in South Africa. Support is available by phone at +27 87 944 7273 and email at [email protected], from 07:30 to 16:30 GMT Monday to Thursday and 07:30 to 16:00 GMT on Friday. A mobile app is available on Google Play and the App Store.

Additional programmes

iFX Brokers offers a 100% deposit bonus on first-time and recurring deposits, with a maximum active bonus of USD 5,000. The bonus is available on the Standard account. Bonus arbitrage (opening opposite positions within thirty minutes) and hedging across correlated accounts are prohibited, and the bonus is removed on withdrawal or after a stop-out.

Public sources

No regulatory fines against iFX Brokers have been recorded.