IFX brokers is a constantly growing broker in South Africa. Since the spike of Forex trading in South Africa, several brokers have started to fight neck to neck to get many new traders on their platform.
IFX brokers has been in the Forex trading market for many years now. If you are a new trader who wants to know about Forex trading, odds are you have already considered IFX brokers. For many years IFX brokers has been the go-to broker for South African traders. However, things have changed. Especially, the influx of young traders has been the prime reason for the decrease in minimum deposit limits.
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IFX brokers introduction
IFX brokers is one of the leading brokers in South Africa. Especially since the restrictions of coronavirus, a large number of people have started to use IFX brokers. IFX brokers is a reputed broker in Forex circles.
IFX brokers minimum deposit
IFX brokers has a minimum deposit limit of 100 USD across standard accounts. However, the minimum deposit limit is not uniform across all account types.
The deposit limit is higher than most brokers in South Africa.
Currently, IFX brokers is offering three account types on their platform. Each account type is specific for different types of users. Let’s take a look at the account types and their trading conditions before dive into the minimum deposit limit of these accounts.
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- IFX standard account
- IFX raw account
- IFX Islamic account
IFX standard account offers 0.01 lots and spreads of 0.8 pips. The vast majority of traders use standard IFX account. It is perfect for new traders who are looking to invest in volatile currency pairs. Additionally, the leverage offered by IFX brokers is also attractive to new users.
IFX raw account is best suited for professional and institutional traders. If you have started to take Forex trading seriously and you are going to invest large sums of money, IFX brokers RAW is the way to go. With the Raw account, you get even tighter spreads of 0.8 pips with the value of the same lot of 0.01.
IFX Islamic account is a standard account, but it has the advantage of a no-interest policy. It is revamped on the Islamic banking system.
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IFX brokers deposit methods
The deposit method across all IFX accounts is the same and standard. The deposit method;
- Open an account with IFX brokers
- Go to the deposit funds section
- Select a payment method
- Transfer funds
You can deposit funds into your IFX brokers accounts in these few simple steps.
If you don’t have an IFX brokers account, then you can make an account in the following steps;
- Open IFX brokers website
- Go to the sign-up section
- Enter the required information
- Verify your account
- Then deposit funds
The deposit ways of IFX brokers are the common ones in the Forex market;
- Bank transfer
- Wire transfer
- Credit card transfer (VISA, Master Card)
The wire transfer can sometimes take a few hours to show up.
IFX brokers deposit limit is higher on the spectrum. However, the deposit methods are standard across the platform. If you wish to learn more, then go check out this website.