Welcome to our series of reviews of trading websites. Today we are going to be looking into the IFCMarkets website – design, services, trading platform, etc. Enjoy!
IFCMarkets has gone for a serious and conservative web design. There is both a limited amount of text and colors. Navigation around the web is quite simple, although some of the pages are a bit too long.
News and other information
This website has a news section based on technical analysis. Frequency of posts Is one very day. There are also short- and medium-term forecasts available. All of this is written in fairly technical terms, so newbie investors may feel a little out of their league. Also offered are several tools such as economic calendar and live prices. There is a fairly large section of education. There is a set of articles detailing the basic concepts of trading. Supplementing this are several video tutorials. Those interested in more details can download some eBook.
IFCMarkets focuses principally on CFD’s of various instruments such precious metals or indices. You can also trade forex or gold. There are two accounts offered based on initial deposit which can go as low as 1 dollar. This broker also offers Islamic accounts that the broker claims are compatible with sharia law. There are no universal trading conditions, every instrument has its own spread. Maximum leverage offered is 1:400, but if you take this offer, remember to exercise caution. There is no clear information about what fees are applicable.
Investors can choose between 3 different platforms (Nettrade X Metatrader 4 and 5), which means that customers can trade via web, desktop or smartphone. There is a possibility to open a demo account that is not limited by time, but fairly limited by instruments available. We have tried Metatrader 5 web version. The client has a rather spartan interface, but is simple to use. Trading is possible with one click, which is a blessing if you want to set up multiple different trades but can lead to unwanted orders.
Conclusion and information about broker
This is a solid looking broker, the only exception we take is that there is no clear information on exactly what fees will be charged. Trading client is sparse, and some new traders can feel a bit lost, but the education section should be able to help them. IFCMarkets parent company is registered at British Virgin Islands, which means a medium level of regulation is applicable. This broker can be contacted by phone, mail or via help service.
Overall assessment: 1-