Fair
50 out of 100 · 92% checked
Our investigation rated it high risk and could not verify it, and our investigation found it is high risk and could not be verified.
Capped at 50 · High risk, unverified
We checked iFX Brokers on 2026-10-28 across its company record, client terms, trading offer and service, and could verify 92% of its record. The score was held at 50 because our investigation rated it high risk and could not verify it. What would move the score: withdrawal rails, all-in eurusd cost, wikilix community. Our published investigation found it is high risk and could not be verified, with 9.7 years of track record. Its client terms carry moderate risk, with 6 critical clauses.
Score last calculated 2026/10/28
Wikilix independent safety report
No. iFX Brokers is not a scam, and we found no evidence of fraud by this company. It is a real South African brokerage with licences confirmed on the regulator's own registers. The risk we found is a…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
What Wikilix has recorded about iFX Brokers: its history, the licences it holds, its trading conditions and its fees.
iFX Brokers is the trading brand of iFX Brokers Holdings (Pty) Ltd, a South African company registered under number 2017/027249/07 and based at 32 Blaaukrans Street, Fountains Business Estate, Jeffrey's Bay. It offers forex, indices, commodities, shares and cryptocurrency CFDs on MetaTrader 4 and MetaTrader 5 across six account tiers, with entry minimums from USD 10. The company states that it issues those CFDs itself and acts as counterparty to client trades, and that its distribution and market conduct is regulated by the Financial Sector Conduct Authority as authorised financial services provider 48021. Funding is built around the South African market and is executed in rand.
The operating entity is iFX Brokers Holdings (Pty) Ltd, and its states that the company is an Authorised Financial Services Provider and OTC derivatives provider with number 48021 under the Financial Sector Conduct Authority (FSCA) of South Africa, that the FSCA regulates its distribution and market conduct, and that the issuance of its CFDs is regulated under the Financial Markets Act, 2012. The same statement identifies the company as the issuer of the CFDs it sells and the counterparty to client transactions, so a client trades against the company rather than on an exchange. The company registration number 2017/027249/07 and the legal entity identifier 984500467FB5AC92C405 that the site also publishes are corporate records and are not financial regulation.
iFX Brokers presents itself as regulated in South Africa, by the Financial Sector Conduct Authority, and it names no other authority anywhere on its site. What that covers is narrow by design: one South African company, so a client in any country contracts with that single entity, and the site names South African law as governing use of the website. The site also publishes the jurisdictions it will not serve, and the list is long, including the United States, Canada, the United Kingdom, Norway, Iceland, Liechtenstein, the United Arab Emirates, Indonesia and the member states of the European Union.
Regulation alone does not answer this, because the terms the broker publishes give it wide discretion over client money. In its favour, the company is openly identified, with a registration number, a legal entity identifier, a physical address in Jeffrey's Bay, a published telephone number and a dedicated complaints address. Against it, the company is the counterparty to every client trade; withdrawals are paid only back to the account or card the money came from, are processed only during South African office hours, and are subject to the company's absolute discretion where a request is incomplete; and the broker's own documents do not agree on whether a 10 percent handling fee applies to a withdrawal made without trading. Those are terms to read in full rather than risks a licence number settles.
Six live tiers are offered, all of them on both MetaTrader platforms, in rand, dollars, pounds or euros, from 0.01 lots:
The entry minimums are not stated consistently: the Client Funding and Withdrawal Policy says a Standard account requires no minimum deposit at all and names only Premium at USD 250 and VIP at USD 1000, while the accounts page gives the figures above. The Islamic tier is also not opened directly, the broker's FAQ saying a standard account is opened first and converted on request.
Spreads are variable, starting at 0 pips on the Raw tier and reaching 1.6 pips on Cent, and the USD 6 commission applies to the Raw and Vip tiers only, with the other four advertised as commission free. On the funding side the costs that matter are the 2.5 percent fee on a bank or wire transfer deposit, and currency conversion, where the broker adjusts the Reserve Bank rate by 5 cents against the client on a deposit and by 5 cents against the client on a withdrawal. It states that it charges nothing itself to send money to a client but passes on bank, card, processor and e-wallet costs, and that it may change funding commissions at any time. One fee is unresolved in the broker's own documents: the February 2024 client agreement PDF that its legal documents page still publishes reserves a 10 percent handling fee on a withdrawal where no trading has taken place, and the current web version of the client agreement does not contain that clause at all.
The highest leverage advertised is 1:1000, on the iFX Cent tier only, with every other tier capped at 1:500. The broker contradicts itself on the point: an answer in its own FAQ states that the maximum leverage on all of its accounts is 1:500.
Trading is on MetaTrader 4 and MetaTrader 5 only, each offered for Windows, Mac, web, iOS and Android, with installers and mobile links published on the broker's platforms page. The platform comparison the broker publishes marks hedging, scalping and transfers between accounts as available to institutional clients only. A client should check this against the strategy they intend to run.
Deposits are accepted by Visa and Mastercard, the South African instant EFT services PayFast and OZOW, bank or wire transfer, Skrill, Neteller and digital currencies, with thirteen coins named including Bitcoin, Ethereum and Tether. All of those carry no deposit fee and are listed as instant except bank transfer, which carries the 2.5 percent fee and up to 48 business hours for verification and allocation. Skrill, Neteller and digital currency deposits carry a provider minimum of USD 250, while the cards, the local rails and bank transfer state none. Money lands in an iFX Brokers wallet first and is then moved to a trading account. Withdrawals are requested in the client area and paid in rand, only back to the account or card the deposit came from. The minimum is ZAR 50.
Published withdrawal times do not agree with one another. The deposits page gives 2 to 4 hours for South African clients and up to 5 working days for international clients, one FAQ answer gives 4 hours and same day payment, another FAQ answer on the same page gives 24 hours, and the Client Funding and Withdrawal Policy gives one working day with up to 3 working days for an amount over ZAR 100,000. Payouts run only during office hours from Monday to Friday, and bank details must be verified before a first withdrawal, which the broker says can take up to 24 business hours.
Support is in English, by telephone on +27 87 944 7273 and by email to support@ifxbrokers.com, with separate addresses for documents, proof of payment, partner enquiries and complaints. The desk is open 07:30 to 16:30 GMT Monday to Thursday and 07:30 to 16:00 GMT on Friday, with the complaints desk on 08:00 to 16:00 Monday to Friday, so there is no weekend cover.
Strengths: a named South African operating company with a registration number, an address and a published FSCA authorisation number; a USD 10 entry point on three of the six tiers; raw spreads from 0 pips with a flat USD 6 commission; MetaTrader 4 and MetaTrader 5 on every major device; and instant local funding at no deposit fee for South African clients.
Limitations: the broker is the counterparty to client trades; funding and payouts are executed in rand with a conversion adjustment in both directions; bank transfer deposits carry 2.5 percent; withdrawal timing and the 10 percent no trading handling fee are stated inconsistently across the broker's own documents; the maximum leverage is published as both 1:1000 and 1:500; payouts are limited to office hours and to the originating account; and a long list of jurisdictions is not served.
iFX Brokers is a South Africa focused CFD broker with a conventional MetaTrader offering, a low entry point and local funding rails, operating under the single South African authorisation it states it holds. The thing to settle before funding an account is the paperwork rather than the platform, because the broker's own pages publish more than one answer on withdrawal timing, on maximum leverage and on whether a 10 percent handling fee can be charged on a withdrawal made without trading, and its terms reserve wide discretion over payouts. Read the client agreement and the Client Funding and Withdrawal Policy, and get the figures that apply to your own tier confirmed in writing.
6 full-page captures of iFX Brokers's own site, archived so what they said can still be read after the pages change.
We have not confirmed any regulation for iFX Brokers. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
We have not confirmed any regulation for iFX Brokers. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
6 account types on record. Minimum deposit from USD 10. Leverage up to 1:1000.
| Account | Min Deposit | Max Leverage | Commission |
|---|---|---|---|
| iFX StandardStandard | USD 10 | 1:500 | No commission |
| iFX PremiumPremium · VIP | USD 250 | 1:500 | No commission |
| iFX VipVIP | USD 1,000 | 1:500 | USD 6 commission |
| iFX IslamicIslamic · Swap-Free | USD 10 | 1:500 | No commission |
| iFX CentCent | USD 10 | 1:1000 | No commission |
| iFX RawRAW · ECN | USD 250 | 1:500 | USD 6 commission |
Where iFX Brokers says it will and won't take clients
Confirmed blocked
Named in the broker's own terms
Likely blocked
Reported, not verified against a primary source
Covered by a parent block
Territories a blocked country carries with it
Explicitly accepted
Named as accepted — not a full list of served markets
7 ways to fund an account. 6 with no deposit fee. 6 credit instantly. The costliest way in is Bank/Wire Transfer at 2.5%.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Bank Cards (Visa, Mastercard)Credit CardThe deposits page lists Mastercard and Visa as two separate lines, both marked SUPPORTED BY PAYFAST, in ZAR, no fee, instant; the Client Funding and Withdrawal Policy lists them as a single Visa Mastercard line on identical terms, so they are held here as one row. No per-channel minimum deposit is stated for cards: the FAQ says the broker imposes no minimum deposit and that only some payment providers require one, and the policy's USD250 asterisk is attached to Skrill, Neteller and digital currencies only. The stored USD250 on this row was corrected off for that reason. Minimum withdrawal ZAR50 (policy, Withdrawal of Client funds). Withdrawals are paid in ZAR and only to the originating account or card; any other destination is at the company's absolute discretion. The company states it charges no fee to transfer funds to a client, but costs charged by the Reserve Bank, bank, card company, payment processor or e-wallet are borne by the client, and it reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The downloadable client agreement PDF of February 2024 additionally reserves a 10% handling fee on withdrawals where no trading activity is present (clause 37.5); the current web client agreement omits that clause and defers all pricing to the funding policy. Currency conversions carry a +5c adjustment on deposits and -5c on withdrawals. Third-party payments are not accepted and the payer name must match the account holder. Not all methods are available in every country. | Free | Not recorded | Not recorded | ZAR 50Not recorded | Instant |
PayFastE-WalletListed on both the deposits page and the Client Funding and Withdrawal Policy in ZAR at no deposit fee, instant. No minimum deposit is stated for this channel. The FAQ confirms PayFast supports instant funding and names it among the broker's current payment providers. Minimum withdrawal ZAR50 (policy). Withdrawals are paid in ZAR and only to the originating account; any other destination is at the company's absolute discretion. The company states it charges no transfer fee itself but passes on third-party costs and reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Deposits go to the iFX Brokers wallet first and then move to a trading account. Third-party payments are not accepted. Not all methods are available in every country. | Free | Not recorded | Not recorded | ZAR 50Not recorded | Instant |
OZOWE-WalletListed on both the deposits page and the Client Funding and Withdrawal Policy in ZAR at no deposit fee, instant, and named in the FAQ among the broker's current payment providers. No minimum deposit is stated for this channel. Minimum withdrawal ZAR50 (policy). Withdrawals are paid in ZAR and only to the originating account; any other destination is at the company's absolute discretion. The company states it charges no transfer fee itself but passes on third-party costs and reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Deposits are allocated to the iFX Brokers wallet first. Third-party payments are not accepted. Regional rail, in practice South Africa only. | Free | Not recorded | Not recorded | ZAR 50Not recorded | Instant |
SkrillE-WalletThe Client Funding and Withdrawal Policy lists Skrill with no deposit fee, accepted currencies ZAR, USD, EUR and GBP, instant, and an explicit asterisk: minimum deposit of USD250. The FAQ corroborates that the broker imposes no minimum deposit of its own and that some payment providers require one, so the USD250 is the provider's minimum. Minimum withdrawal ZAR50 (policy). Withdrawals are paid in ZAR and only to the originating account; any other destination is at the company's absolute discretion. The company states it charges no transfer fee itself but passes on third-party costs and reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Third-party payments are not accepted. Not all methods are available in every country. | Free | Not recorded | USD 250 | ZAR 50Not recorded | Instant |
NetellerE-WalletThe Client Funding and Withdrawal Policy lists Neteller with no deposit fee, accepted currencies ZAR, USD, EUR and GBP, instant, and an explicit asterisk: minimum deposit of USD250. The FAQ corroborates that the broker imposes no minimum deposit of its own and that some payment providers require one, so the USD250 is the provider's minimum. Minimum withdrawal ZAR50 (policy). Withdrawals are paid in ZAR and only to the originating account; any other destination is at the company's absolute discretion. The company states it charges no transfer fee itself but passes on third-party costs and reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Third-party payments are not accepted. Not all methods are available in every country. | Free | Not recorded | USD 250 | ZAR 50Not recorded | Instant |
Cryptocurrency (BTC, ETH, USDT)CryptocurrencyThe deposits page lists digital currencies in USD, no fee, instant. The Client Funding and Withdrawal Policy adds an explicit asterisk: minimum deposit of USD250, and names the accepted coins as BTC Bitcoin, PAX Paxos Standard, BCH Bitcoin Cash, ADA Cardano, USDTTRC20, ZEC Zcash, XRP Ripple, ETH Ethereum, USDT Tether ERC20, TUSD TrueUSD, LTC Litecoin, DASH Dash and USDC USD Coin; the deposits page gives the same list without USDTTRC20. The stored processing time of hours was corrected to instant, which is what both pages state. The FAQ confirms digital currency deposits are verified and approved instantly. Minimum withdrawal ZAR50 (policy), and the client agreement states withdrawals are paid in South African Rand. Withdrawals go only to the originating account; any other destination is at the company's absolute discretion. Blockchain network costs are third-party costs borne by the client, and the company reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Third-party payments are not accepted. | Free | Not recorded | USD 250 | ZAR 50Not recorded | Instant |
Bank/Wire TransferWire TransferThe deposits page gives wire transfer as ZAR, 2.50%, 24-48 business hours, and the FAQ says to allow up to 48 hours for verification and allocation, so the stored processing time of 3 days was corrected to 48 hours. The Client Funding and Withdrawal Policy states the fee as 2.5% of the deposit amount and gives First National Bank, Johannesburg, branch code 250655, account 62776923742, SWIFT FIRNZAJJ. No minimum deposit is stated for this channel: the policy's USD250 asterisk is attached to Skrill, Neteller and digital currencies only, and the FAQ says the broker imposes no minimum deposit of its own, so the stored USD250 on this row was corrected off. Proof of payment must be emailed to pop@ifxbrokers.com or uploaded in the client portal, using the client's CU number as the payment reference. Deposits are only processed in working hours, 07:00 to 17:00 Monday to Friday. Minimum withdrawal ZAR50. Withdrawals over ZAR100,000 can take up to 3 working days from request to payment and are only processed during office hours Monday to Friday; the policy says bank transfers are routinely processed within a day but may take up to 48 working hours to be credited. The company states it charges no transfer fee itself but passes on third-party bank costs and reserves the right to change funding commissions, so the withdrawal fee is left unset rather than zero. The February 2024 client agreement PDF reserves a 10% handling fee on withdrawals with no trading activity (clause 37.5), which the current web client agreement omits. Third-party payments are not accepted. | 2.5% | Not recorded | Not recorded | ZAR 50Not recorded | Up to 48 hours |
2 trading platforms on record: MetaTrader 5 and MetaTrader 4.
Offered on Windows desktop, Mac, web, iOS and Android, with 21 timeframes, 6 pending order types, netting and an economic calendar. Hedging, scalping and transfers between accounts are marked available only to institutional clients.
Offered on Windows desktop, Mac, web, iOS and Android, with 9 timeframes, 4 pending order types and MQL4 expert advisors. The platform comparison marks hedging and scalping as available only to institutional clients.
One domain on record. All active and served over HTTPS.
One legal entity behind the iFX Brokers brand.
The operating company is IFX BROKERS HOLDINGS (PTY) LTD. Registered in South Africa. Registration number 2017/027249/07.
3 other brokers on the record share what iFX Brokers offers — its country, regulator, account types or platforms — set beside it on the same measures.
Common questions about iFX Brokers
The bonus is credited as equity on the iFX Standard and iFX Islamic tiers and cannot itself be withdrawn, although profits made while trading with it can be. The broker's FAQ caps it at USD 5000 per household, and a client who does not want it can ask for the option to be removed. Its conditions are published as a separate document from the client agreement.
By telephone on +27 87 944 7273 or by email to support@ifxbrokers.com, in English. There are separate addresses for documents, proof of payment and partner enquiries, and complaints go to complaints@ifxbrokers.com. The desk is open 07:30 to 16:30 GMT Monday to Thursday and 07:30 to 16:00 GMT on Friday, with the complaints desk on 08:00 to 16:00 Monday to Friday, so there is no weekend cover.
Forex, indices, commodities, shares and cryptocurrency, all as CFDs. It lists 54 currency pairs, 73 other CFDs and 3 cryptocurrencies. Trade sizes run from 0.01 lots to a maximum of 100 lots per trade, and the iFX Cent tier is restricted to forex only.
Yes, the iFX Islamic tier, which starts at USD 10 with leverage to 1:500 and spreads from 1.3 pips. Its swap free treatment is limited: the broker applies it to forex and commodities only, so positions in other markets can still carry overnight charges. The account cannot be opened directly either; the broker's FAQ says a standard account is opened first and then converted on request, and that it reserves the right to ask for proof of religion.
It depends which of the broker's own documents you read, and that is the problem. The Client Funding and Withdrawal Policy and the current web version of the client agreement set out no withdrawal fee, while the February 2024 client agreement PDF that the legal documents page still publishes reserves a 10 percent handling fee on any withdrawal where no trading has taken place. Both documents are live on the site. Separately, the broker says it charges nothing itself to transfer funds but passes on bank, card, processor, e-wallet and network costs, and it adjusts the Reserve Bank conversion rate by 5 cents against the client on a deposit and by 5 cents against the client on a withdrawal.
The broker publishes four different answers, so there is no single figure to rely on. Its deposits and withdrawals page says 2 to 4 hours for South African clients and up to 5 working days for international clients; one FAQ answer says within 4 hours and paid the same day; another FAQ answer on the same page says within 24 hours; and the Client Funding and Withdrawal Policy says one working day, with up to 3 working days for an amount over ZAR 100,000. In every version payouts are processed only during office hours from Monday to Friday, which the headline promise of fast withdrawals around the clock does not mention.
Six: iFX Standard from USD 10 with spreads from 1.3 pips, iFX Cent from USD 10 with leverage to 1:1000 but forex only, iFX Islamic from USD 10 and swap free on forex and commodities, iFX Premium from USD 250 with spreads from 1 pip, iFX Raw from USD 250 with spreads from 0 pips and a USD 6 commission, and iFX Vip from USD 1000 with spreads from 0.5 pips and the same USD 6 commission. All six run on MetaTrader 4 and MetaTrader 5, in rand, dollars, pounds or euros, from 0.01 lots. The Islamic tier is not opened directly: the broker's FAQ says a standard account is opened first and converted on request.
The highest leverage advertised is 1:1000, and it applies to the iFX Cent account only. The other five tiers are capped at 1:500. The broker contradicts itself here: an answer in its own FAQ says the maximum leverage on all of its accounts is 1:500, so confirm the cap for the tier you intend to open before funding it.
iFX Brokers is the trading name of iFX Brokers Holdings (Pty) Ltd, a South African company with registration number 2017/027249/07. It gives its address as 32 Blaaukrans Street, Fountains Business Estate, Jeffrey's Bay, 6330, South Africa, and publishes the legal entity identifier 984500467FB5AC92C405. No second entity, group parent or offshore company is named anywhere on its site, so a client deals with that one South African company.
Yes, and the list is long. iFX Brokers Holdings (Pty) Ltd states on its own site that it does not offer its services to residents of Afghanistan, Canada, the Democratic People's Republic of Korea, the member states of the European Union, Ghana, Iceland, Indonesia, Iran, Iraq, Liechtenstein, Libya, Mongolia, Myanmar, Nicaragua, Norway, Panama, Somalia, the Syrian Arab Republic, Uganda, the United Arab Emirates, the United Kingdom, the United States, the United States Minor Outlying Islands, Yemen and Zimbabwe. Clients elsewhere contract with a single South African company, and the site names South African law as governing use of the website. The local funding rails OZOW and PayFast are South African services, so they are of no use to a client outside South Africa.
The lowest minimum deposit is USD 10, on the iFX Standard, iFX Islamic and iFX Cent tiers. iFX Premium and iFX Raw are listed at USD 250 and iFX Vip at USD 1000. The broker is not consistent about this: its Client Funding and Withdrawal Policy states that a Standard account requires no minimum deposit at all and names only Premium at USD 250 and VIP at USD 1000, while its accounts page gives the figures above. Separately, Skrill, Neteller and digital currency deposits carry a provider minimum of USD 250, while cards, the local rails and bank transfer state none.
Deposits are accepted by Visa and Mastercard, the South African instant EFT services PayFast and OZOW, bank or wire transfer, Skrill, Neteller and digital currencies including Bitcoin, Ethereum and Tether. All of those carry no deposit fee and are listed as instant except bank transfer, which carries a 2.5 percent deposit fee and up to 48 business hours for verification. Withdrawals are requested in the client area, paid in South African rand, and paid only back to the account or card the deposit came from, with a minimum of ZAR 50. The broker states it charges nothing itself to send funds but passes on bank, card, processor and e-wallet costs, and it adjusts the conversion rate by 5 cents against the client in each direction.
iFX Brokers states that it is an Authorised Financial Services Provider with number 48021 under South Africa's Financial Sector Conduct Authority, and that the issuance of its CFDs is regulated under the Financial Markets Act, 2012. That is the only authority it names, and the authorisation sits with one company, iFX Brokers Holdings (Pty) Ltd, registered in South Africa as 2017/027249/07. Being authorised is not the same as being safe: the same company is the issuer of the CFDs and the counterparty to every client trade, and its withdrawal terms pay only back to the originating account, run only during South African office hours, and reserve absolute discretion where a request is incomplete. Read the client agreement and the Client Funding and Withdrawal Policy before funding an account.
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