If you have recently started Forex trading in South Africa, you have likely heard about IFX brokers. IFX brokers is very effective broker for all kinds of traders. Beginner level traders are always looking for good minimum deposit deals.
IFX brokers has earned quite some reputation over the past years in the broker market. Especially in South Africa, we can see many Forex traders swell over the last couple of years.
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In this article, we will explain IFX brokers minimum deposit. We highly recommend new traders to find out information about deposit methods and minimum deposit details.
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IFX brokers background
IFX brokers were established over a decade ago. It is a regulated and local broker. IFX brokers offers competitive rates and bonuses. The FSCA regulates IFX brokers. Hence, it passes the essential requirements of being a good broker in South Africa. You can trust this broker, it is legit, and you are less likely to be scammed.
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IFX is regulated by FSCA. Thus, you have all the financial security offered by local laws. A few benefits of trading with a local broker are;
- Segregated funds
- Security of funds
- Immunity against bankruptcy
- Safety against scams
We always recommend new traders check the regulation of a broker before investing their money.
IFX minimum deposit
IFX minimum deposit is the least amount of money you have to deposit into your account. The minimum deposit limit depends on the account type. However, the minimum deposit limit across all accounts is 100 USD. You can visit here to know about the abovethenews. On the other hand, you can also get more essential info on dbfile. Here is the best news portal thoughtco where you can get the latest news around the world.
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IFX account types
IFX is currently offering three different types of accounts.
- IFX standard account
- IFX raw account
- IFX Islamic account
IFX standard account is for most basic kinds of users. It has all the basic features that most users would ever need. However, IFX brokers offer professional and institutional users a more advanced account type. IFX raw account is equipped with the most advanced and industry-leading standards. IFX Islamic account is very similar to IFX standard account with no-interest Islamic policy.
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Deposit limits for each account
IFX brokers has different requirements for all its accounts types.
- IFX Standard account – 100 USD
- IFX Raw account – 250 USD
- IFX Islamic account – 100 USD
If a new user opens a standard account, they have to submit at least 100 USD worth of funds into their account. If you are a Raw account user, the minimum deposit limit is extended to 250 USD. Islamic account users need to deposit 100 USD in their account like standard account users.
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Your deposit limit will also increase if you upgrade your account from a standard account to a raw account later. You should know that the bonus promotional limit also only applies to deposits of 250 USD. Thus, all users need to add the minimum amount of 250 USD to their accounts for bonus achievement.
IFX brokers’ minimum deposit limit is higher than the competition. But in our opinion, it is worth it, and it shouldn’t be a deal-breaker if you want to become a long-term trader on IFX brokers. You can visit here to know about the forexrenkocharts. On the other hand, you can also get more essential info on taylorsource. Here is the best news portal sttmag where you can get the latest news around the world views360