Finding the most reliable deposit list for a local or global IFX broker can be a daunting process, especially finding an extensive list from a trusted source. Below is a minimal investment analysis of this regulated Forex company to help traders make the right decisions when funding their trading accounts.
How much is the minimum deposit?
The minimum investment required to open a broker account with IFX brokers is $ 100. This amount is minimal compared to most other industry standards and should be available to new traders. The minimum investment for new traders may vary depending on the type of trading account chosen. You can activate your transaction within 72 hours.
Although the sector offers good deposit and withdrawal policies, unfortunately, the options for making payments are still limited, only three in particular:
- Wire transfer
Each payment method has its own processing time. The only downside to IFX brokers is that it is difficult for traders to find quick ways to trade on this platform. This is even more unfair to traders in South Africa. This is due to the fact that withdrawal processing time can be increased up to 3-4 hours, and bank transfers can take up to 4-5 business days.
Regulations for deposits in IFX broker
- The broker does not charge any deposit fees. However, traders should be aware that international payments and international banks may charge.
- In terms of deposit currencies, the broker accepts a variety of major currencies including AUD, USD, NZ, JPY, CAD, and ZAR / Rand.
- Money received in other currencies can be changed before crediting to your account. Buyers can contact the broker’s shipper for details of these applicable conversion rates.
- Due to third party policies, money will not be credited to a bank account compatible with your IFX trading account. If you are an authorized person, bank accounts are accepted.
What is the benefit of an IFX VIP account?
Traders are already benefiting from IFX brokers without minimizing investment or withdrawal costs. However, the fees they incur on international transactions are paid from their bank accounts and they want to avoid this as much as possible. IFX VIP accounts have solutions for these additional costs. With VIP accounts, buyers do not have to bear the costs of international trade, brokers themselves bear these costs.
How to deposit the minimum amount?
Novice traders should consider how to withdraw funds from their IFX trading account. This method is simple and safe, and the buyer does not solve any technical problems in the process. Following are the steps you should follow to fund IFX Brokers’ minimum deposit:
- On the official IFX broker website, traders must visit the account portal.
- The next step is to select the login option with the correct credentials.
- There is an option for a fund account and traders need to click on the account and choose the best method to deposit.
- Finally, you need to enter your deposit amount and confirm your transaction.