2012: Another forums account created by an IFC employee posing as a happy customer. On the same day, a fake client review was left from the same location. September - 2 more fake "client" reviews have been left from IFC's offices.
The FPA recommends a very high level of caution dealing with IFC Markets.
Somehow it is related to InfinMarkets.com
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$1|
|Address:||Tortola, British Virgin Islands, VG1110, United Kingdom|
|Contact:||firstname.lastname@example.org, +44 20 8123 1920|
|Regulators:||BVI FSC #SIBA/L/14/1073|
|Trading platforms:||MT4, MT5, NetTradeX|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|CFD:||(620+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities|
|News Trading:||✅ Yes|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, bitwallet, CASHU, Neteller, Pasargad Novin, Skrill, TC Pay (TopChange), Unistream, WebMoney, Western Union|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, bitwallet, CASHU, Neteller, Skrill, TC Pay (TopChange), WebMoney, Western Union|
Scam Broker with Scammer Employees
I will tell my story with them in last few days,
I opened MT4 account with IFCMarkets with fixed spread and with 400 leverages, I made deposit 310$
I was going to trade with OIL, WTI and Brent,
First thing I faced, in the demo account the spread is 6 pips, and I surprised when I open real account I found the spread for OIL is 12 pips, I inquired about that, they told me it was mistake from them that the spread was changed in real accounts but they didn't do same in demo accounts :)
Second thing I faced, in the trading hours sheet, I saw the OIL market will close with them on Friday at 24:00 in my time, and I surprised that the market closed at 23:00,
I inquired about that, the live chat couldn't give me any answer, they told me their office will answer me on next monday, and I got email from them saying the OIL market should close at 23:00, but they didn't give me answer why it mentioned in their trading hours sheet the OIL market will close at 24:00
NOW The big story
Last Friday, I tried to open trade 1.75 lot in Brent, and when I click on icon to open the trade, I surprised that it gave me only 1 lot and it skip the 0.75 of the lot, I inquired about that but no body give me any answer, they said they don't know why that happened, and I need to check with their office which will open on next Monday at 7am.
The 1 lot of Brent need 89.1$ of margin because I have 400 leverage in Oil, and 120$ for 12 pips spread, which mean I have free margin 99$
I really felt bad about that, the company never say anything correct and they are scam broker, then I decided to withdraw from them, I had free margin 99$, I made withdraw the 94$, it cut from my account, and operation was pending and in process.
After few hours I got email from them saying that, the withdraw rejected, because I don't have enough margin, and the amount will return back to my account !!!!
When I entered to my account I surprised again I saw that I have free margin only 10.45$ ???? where is the 99$ ???
I checked why of that !!!!!
The BIG SURPRICED
The company changed my leverage from 400 to 200 without informing me, and because of that change, the 1 lot margin need 178.2$ , with the 120$ for spread, which mean, the only free margin I have is 10.45.
I tried 10s times to contact via live chat support, they refused to help me, they said they can't do anything and I need to talk with office on Monday 7am.
The Game is Disclose
Now the market open and my account wiped !!!!
Be carful from the broker IFCMARKETS
Intentional break-down of the platform & other issues
Terrible service manner
MOVE AWAY-COMPLAINTS AGAINST IFC MARCKETS
They have a weak choice of stocks to trade, their spreads and prices are not competitive and this is not a broker.
The staff is arrogant, lies and never use any polite sentences to close their emails.
There are many problems about withdrawals as they pretend to make wire transfers using a very strange bank (Arm Swiss Bank based in Armenia!) and withdraws were not received on accounts!
Several members of IFC Markets and Arm Swiss Bank staff are reported to prosecutor and FSA!
If you want to make withdraws and to close your account, IFC Markets changes the rule and allows you to make them only by wire transfers instead of crediting credit cards or Skrill.
These process and method are unfair and abusive.
A complaint is on the way against IFC and their very doubtful bank for fraud, embezzlement, misleading advertising and illgal practices.
We also see that the poor staff blocked the profile on the chat and became very rude and totally disrespectful by email.
Such a company won't stay a long time on the market and must be banned.
We have several others brokers largely better, cheaper and really professionals with never a problem with withdraws.
Actually, more than 2000 euros of our funds are missing because of failure of their withdraw process and both companies will have serious
problems if they do not pay back our funds.
So if they can kick a client for such small money, you must definitely stay away from them.
please stay away because the prices are no real.
Stay away from this broker
they opened a trade with higher lot size on the live signal. My I informed them when I notice but they said they can't help me. they agreed that they do not know how it came about and with different IP address from another location that is not Nigeria. Immediately the trade was opened by 1:30pm (their MT4 terminal time), the server got freezed on me, so I could do nothing. The funniest part of it was that the the position was back-timed to 12:30pm (their MT4 terminal time) whereas it was opened by 1:30PM(their MT4 terminal time) before my very eyes. I contacted the broker through chat, and they called me and they confirmed that the position was opened from different location based on the IP address and that my trading account might have been compromised not even minding that the trade was back-timed. They said that they cannot close the position that I had to close it myself but I can't since they freeze my account. I was totally robbed. BEWARE OF THIS BROKER. I got devastated today that I could not think of anything trading.
Frequently Asked Questions
What is the minimum deposit for IFCMarkets?
- NetTradeX Beginner and MetaTrader 4, 5 Micro accounts: No minimum.
- Standard account in NetTrader: $1000.
- Standard account in MetaTrader 4 and MetaTrader 5: $1000/€1000/JP¥100 000
Is IFCMarkets regulated?
- Category 1: Dealing in Investments
- Sub-category B: Dealing as Principal
- Category 2: Arranging Deals in Investments
What leverages does IFC Markets offer?
- NetTradeX Demo 1:1 - 1:400
- NetTradeX Beginner 1:1 - 1:400
- NetTradeX Standard 1:1 - 1:200
- MetaTrader 4, 5 Demo 1:1 - 1:400
- MetaTrader 4,5 Micro 1:1 - 1:400
- MetaTrader 4,5 Standard 1:1 - 1:200