IFX Markets is a division of City Index Limited which is one of United Kingdom’s leading providers of retail derivative trading services. The registered office of this brokerage company is located in London, UK.
It is a specialist provider of a forex trading platform which offers 24 hour commission-free trading with tight spreads.
This broker functions under Financial Services Authority regulations of United Kingdom and therefore their products are appropriate from an investment point of view.
IFX Markets offer clients the facility of having Individual, Partnership and Institutional accounts. In addition to spot forex trading, IFX provides the facility to do swaps in matched and mismatched amounts and also trade Exchange for physical contracts. (EFPs). You could also trade non-deliverable forwards (NDFs).
IFX also offers a full OTC options service where you can trade both variable and exotic options. This makes this brokerage company’s market position unique in terms of forex offerings.
Free demo account is available to the client via downloadable software from the company’s website. Step-by-step instructions to install the software are also provided.
IFX Markets take their price feed directly from the inter-bank market and consequently the currency price quotes offered is highly competitive and accurate.
The spreads on major currencies and their crosses are typically 2-3 pips.
IFX Markets additionally provide a telephone service to interested clients. Using this service, clients can trade options on forex and Bullion in market amounts.
IFX Markets provides stable margin rates that do not fluctuate to reflect increased risks especially when markets remain closed over the weekend.
They provide low margin rates from just 1% and small minimum trading sizes.
An important feature is that IFX pays interest on deposits placed with them for margin purposes.
It also provides the facility to trade in a 24-hour environment without any stoppages.
The Company’s product is known as the IFX Direct and is the dealing platform for Spot forex and Exchange for physical (EFP) currency futures. It is application-based, and runs securely over the Internet. IFX Direct the electronic trading platform of IFX Markets offer you real time tradable prices in 48 spot currency pairs, apart from Gold, Silver, and 40 different IMM and Finex EFP contracts.
The trading platform has to be downloaded from the company’s site. However as a client you will have to ensure that Microsoft.Net Framework software is installed in your computer. If not, the IFX Direct installation will install the Framework software for you. This could turn out to be a slightly cumbersome process.
Technical analysis and commentaries on the market situations are readily available to the users in the platform.
IFX Markets provides a 24- hour back office and technical support for the dealer. With this broker you can be confident of getting support functions whenever you need them.
It is truly a market leader in the electronic forex trading platform segment, especially from the trader support point of view.
The IFX Market website is not congested with advertisements and therefore easy to navigate.
Free demo account is a welcome feature
2-3 pip spreads on major currencies without variations
Information depicted on the site is easily understood.
The facility of making an online application for opening an account is available.
All contact details of the company are provided. This includes email and telephone numbers.
Trading fees are levied at $1.25 per 10,000 lot traded.