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Review of the illegal broker IFX - reviews of the illegal activities of the forex kitchen
IFX Brokers is a company focused on providing services in the field of trade and investment to both private and institutional clients. They promise to provide access to global markets and various asset classes and trading instruments. Despite all the statements of the project founders, cases of fraud related to the activities of this company are actively discussed on the RuNet.
|Year of foundation
|Regulation and jurisdiction
South Africa, FSCA
Fraudsters falsify important documents. They forged the certificate of incorporation and financial regulation licenses.
IFX Brokers Holdings (Pty) Ltd
Reg No: 2017/027249/07
- MT4/MT5 support
- Loyal minimum deposit requirements
- Fake license
- Doesn't pay money
- The office uses the name of another broker
|Types of accounts
Standard, Premium, VIP, Islamic, Cent
|Order execution type
|Trading account currencies
ZAR, USD, GBP, EUR
What is known about the IFX broker
The office’s website says that the company was founded in 2017. The company’s registered office is in South Africa. The scammers even published the number of the certificate of incorporation. The check did not confirm the authenticity of the document. The scammers took the certificate of an organization that has long ceased its activities and has never had anything to do with brokerage services.
The company is supposedly regulated by the South African auditor FSCA, but this is another lie. There are several problems for potential traders. Firstly, South Africa is far from the most reliable jurisdiction. Secondly, the claimed license is another fake fromIFX Brokers official website the project gives extremely false information.
The site of the fake brokerage firm does not provide specific information about the managers. However, it is mentioned that the directors have many years of practical experience and knowledge gained from senior positions in international companies. Another water without any specifics. All scammers operate on this principle.
Scammers have published a lot of fake information to attract the attention of gullible newcomers:
- the office allegedly has an international presence, although a specific number of countries is not mentioned;
- the company provides customer support, but the exact number of languages is not specified;
- Specific figures regarding the number of active trading accounts are not provided, it is only stated that there are a lot of them.
All activities of the organization are built on lies. This is a standard scenario for a scam. Beginners should not get involved in the adventure of opening an account with an illegal broker. In Russia, sharaga also operates illegally; there is no license from the Central Bank of the Russian Federation.
Terms of trading with IFX broker
The broker offers two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 is known for its simplicity and the ability to customize the interface according to the individual needs of the user. MT5 is its successor and offers additional trading features, including the ability to trade futures and shares. This platform provides more time frames for market analysis and advanced technical analysis capabilities, including over 2,000 free custom indicators and unlimited charting.
Do not delude yourself, because transparent trade will still not be the fault IFX Brokers Investments in trading are doomed to fail, because the fraudster hides information about liquidity providers. Sharaga prefers to manage quotes independently.
After registration, the trader must select one of the offered accounts:
- Standard: The minimum deposit is only $10. This account offers full access to all markets with no commissions or hidden costs. Users can choose between MT4 and MT5 platforms;
- Premium: initial deposit of $250. Similar to a standard account, but without support for trading bonuses and with more attractive trading conditions;
- VIP: A $1,000 deposit is required to open. The account offers raw spreads, competitive commission structures and the best trading conditions;
- Islamic: swap-free and completely free account, excluding normal swap fees for positions held overnight or over weekends;
- Cent: Ideal for beginners, it allows you to trade with real funds and significantly less risk.
The description is rather superficial. Scammers say nothing about spreads and margin trading conditions. Contract specifications are hidden. The scammers did not really explain which assets can be used to open transactions. A superficial description of a commercial offer is also a sign of fraud.
IFX broker exposed
BrokerIFX, founded in 1995 and regulated by the FCA (UK), has initially established itself as a reliable player in the forex trading market. However, over time, the company faced serious financial problems. In 2006, the project was acquired by broker City Index, and in 2014 by GAIN Capital Holdings. This period was marked by the loss of significant funds by clients, many of whom fell into debt and went bankrupt.
There were certain signs of fraud associated with the activities of the office. For example, in the last years of the company’s existence, a redirect to City Index was activated on its official website. This caused confusion among customers and made the withdrawal process difficult. In addition, the scam offered leverage of up to 1:400, which was unusually high for the UK and could result in significant financial losses, especially for unskilled traders.
After closing IFX many scammers began to use his name for their scams. They created fake companies with similar names, such as IFX Capital and IFX Global, and registered them in the UK to create the appearance of legitimacy. These scammers actively used phishing and other fraudulent schemes to attract customers and steal their funds. The IFX Brokers trademark is now actively used.
For investors dealing with such fraudulent schemes, the risks were enormous. Many of them lost their investments, as scammers imitated trading and manipulated data in terminals. Fraudsters often demanded additional payments for fictitious services such as commissions, taxes and insurance fees, resulting in additional financial losses.
The founders of the project claim many years of experience in financial markets and international status in the field of brokerage services, but their words are worthless. In reality, this is the most ordinary Forex kitchen, created to pump money out of gullible people. That’s why you can’t trust a scamIFX Brokers personal account this site will give nothing but losses.
Analysis of reviews about the IFX broker
Users are unhappy with the activityIFX Brokers reviews indicate systematic problems with cashout. Scammers refuse to approve requests to withdraw money, hiding behind the most stupid and illogical excuses. There are no positive comments. No one will be able to receive payments from the scam yet.
Sergey emphasizes that the broker does not have a license, which is a sufficient reason for mistrust. Problems with legal documentation are often associated with lack of legitimacy and high risks for investors.
Eva and Marina express their disappointment at the impossibility of withdrawing funds. Marina also points out problems with technical support, which is delaying the solution to the problem. This is a typical complaint related to fraudulent brokers where clients are unable to get their funds back.
TraderX describes technical glitches and server unavailability at critical times, which undermines confidence in the broker’s reliability and efficiency. He also mentions endless excuses when trying to withdraw funds, which is consistent with other reviews.
Igor talks about his attempts to withdraw funds and the lack of adequate support from the broker, which once again confirms the problems with cashout and insufficient customer support.
Alexey and Nikita mention confusion and the possibility of encountering fake IFX. This indicates the existence of fraudulent schemes that use the name of a famous brand to deceive customers.
The comments reviewed only confirm the validity of concerns regarding reliabilityIFX Brokers review complaints from practicing traders clearly demonstrates why you should not mess with this charaga.
Facts indicate the fraudulent origin of the project IFX Brokers. It makes no sense for beginners to spend their investment resources on an anonymous charade. If you have already suffered at the hands of scammers because you made a deposit, contact our chargeback specialists for help, they will tell you in detail, how to take money from a scammer.
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Customer reviews are one of the main criteria influencing the reputation and position of a broker in the ranking of reliable companies. You can view reviews about IFX Brokers on the main broker profile page.
You must register on the official Forex Rating website. This procedure is free and will take very little of your time. To confirm your registration, you will receive an email with a link where you will find detailed instructions on how to leave a review about IFX Brokers.
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