REVIEWS
CryptoIFX Review 2022
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CryptoIFX is an online forex and CFD broker that was founded in 2022 and is currently based in St. Vincent and the Grenadines.
The broker’s focus in the industry is to empower traders with services that unfold hundreds of opportunities in the global market, with more than 10,000+ tradable assets in CFDs across forex, commodities, metals, shares, and cryptocurrencies.
At CryptoIFX, they prioritize their clients’ interests and financial goals by providing excellent trading services. They offer absolute, goal-oriented, and professional investment guidance; as well as a secured and user-friendly online trading platform.
| CryptoIFX Main Features | |
|---|---|
| 🗺️Established in: | 2021 |
| 🏢Headquarters: | St. Vincent and the Grenadines |
| ⚖️Regulations: | SVGFSA |
| ⚖️Country of regulation: | St. Vincent and the Grenadines |
| 💰Minimum Deposit: | $250 |
| 🖥Platforms: | Proprietary Web-Based Platform |
| 🎮Demo Account Available: | Yes |
| 💱Leverage: | 1:400 |
| 💰Withdrawal fee amount: | No |
| 💰Inactivity Fee: | No |
| Pros | Cons |
|---|---|
| • Great proprietary trading platform | • High CFD fees |
| • The broad product portfolio of more than 500+ CFDs | • High minimum deposit |
| • Execution Transparency | • No 24/7 support availability |
| • Higher Leverage |
Global markets are more accessible than one might think. CryptoIFX allows its clients to trade more than just currencies. Using their proprietary platform, you access American and European markets, allowing you to trade stocks and indices as well.
The forex broker offers the best-traded indices such as DAX, Dow Jones, FTSE, and S&P. Traders can access the energy markets and other commodities, along with global stock companies in without complexity.
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Safety & Regulation
CryptoIFX is a new broker in the market and still doesn’t hold any major license from top-tier regulators like the FCA, ASIC, or CySEC. However, its operation is monitored by the SVGFSA, and the broker is obligated to follow all standard AML and KYC policies.
Is CryptoIFX Safe or a Scam?
Even though the broker is not regulated by a top-tier regulator, CryptoIFX is considered a safe broker to trade with as it maintains all safety, AML, and KYC standards. The company is also very straightforward and transparent with its execution policy.
The broker also offers negative balance protection to its VIP clients.
Furthermore, there is no trail of bad history or malicious misconduct towards clients, or any manipulation of funds.
Accepted Countries
CryptoIFX can offer its services to everyone, except residents of the USA, North Korea, and Iraq.
Keep in mind that, you are responsible for ensuring that all services and activities of CryptoIFX.com are authorized in your jurisdiction.
CryptoIFX is a new broker in the market and still doesn’t hold any major license from top-tier regulators.
Fees
CryptoIFX has relatively high trading fees overall. The fee structure differs among various account types, and it is not very transparent in order to calculate costs easily.
Also, you are required a higher minimum deposit to get access to lower spreads and better service. This contradicts the statement for support, new traders, to gain access to the market easily. Furthermore, the broker does not charge any commission for trading.
Leverage
The maximum leverage level of CryptoIFX is 1:400, which is considered relatively high and offers a good trading advantage.
What is CryptoIFX’s Minimum Deposit?
The minimum deposit required is $250 or equivalent. However, in order to get access to better service and lower spreads the minimum deposit goes up to $100,000.
CryptoIFX has relatively high trading fees overall.
Account Opening
This online broker provides five different trading accounts for its clients, the Rookie Account, the Basic Account, the Elite Account, the Elite Plus Account, and the VIP account. Based on the account type, traders can get access to better spreads and leverage levels.
At CryptoIFX, all possible measures are taken to ensure that client funds and data remain secure.
Here are the account types in more detail:
Rookie Account Account
- MIN. DEPOSIT $250
- 0.01 MIN LOT SIZE
- PLATFORM
- MOBILE TRADING
- 24 HOUR TRADING
Basic Account
- MIN. DEPOSIT $2,500
- 0.01 MIN. LOT SIZE
- PLATFORM
- MOBILE TRADING
- 24 HOUR TRADING
- ISLAMIC ACCOUNT
Elite Account
- MIN. DEPOSIT $10,000
- 0.01 MIN. LOT SIZE
- PLATFORM
- DAILY ANALYSIS
- MOBILE TRADING
- ISLAMIC ACCOUNT
- ACCOUNT MANAGER
Elite Plus Account
- MIN. DEPOSIT $25,000
- 0.01 MIN. LOT SIZE
- PLATFORM
- MOBILE TRADING
- ACCOUNT MANAGER
- DAILY ANALYSIS
VIP Account
Account protection with the lowest market price differences and personalized trading portfolio. For a customized service though, you can contact your personal account manager
- MIN. DEPOSIT $25,000
- 0.01 MIN. LOT SIZE
- PLATFORM
- MOBILE TRADING
- ACCOUNT MANAGER
- DAILY ANALYSIS
Deposit & Withdrawal
Account Base Currencies
The accounts are only in USD
Deposit Methods available
- Credit\Debit Card
- Bank Transfer
- E-wallets
How to make a deposit?
There are several payment methods offered, from Credit Card, Wire Transfer, as well as several forms of e-payment.
- The first step is logging into your account, then go to the ‘Deposit’ section
- Click on your preferred method, enter the amount you wish to deposit, and add the payment method details into the fields
- Click on ‘Deposit’
Trading Platforms
While most of the new brokers out there use the vanilla and most used MetaTrader 4(MT4) or MetaTrader 5(MT5) platforms, CryptoIFX has had time to invest in creating its own proprietary investing platform.
The broker has invested massive amounts of time and resources into creating a platform that benefits traders the most. The interface is easy to understand, and the technical analysis tools are extremely powerful, especially for new traders.
However, the platform is only available via a web browser and can work on both mobile and desktop versions.
Markets & Financial Instruments
The broker offers CFD trading in more than 10,000+ assets, with more being added constantly. These individual assets fall under the following asset classes:
- Currencies
- Stocks
- Indices
- Commodities
- Cryptocurrencies
The offerings are more than sufficient to have something for everyone, and never miss a market opportunity. Whether you like to trade fiat currencies or cryptocurrencies, stocks or indices, or even volatile commodities, there is something to trade on the platform.
Customer Service
CryptoIFX offers several different means of communication for you to reach out to their customer support team.
You will find that most means of communication provide lively and fast responses from a team who are highly trained to accommodate all traders’ needs, regardless of the client’s trading experience.
Means Of Communication
- Live Chat
- Email Support ([email protected])
- Phone Support (+18008268126)
CryptoIFX offers several different means of communication for you to reach out to their customer support team.
Client Education
Client education is a very important part of a trader’s journey and CryptoIFX takes that seriously.
Once the minimum deposit is met, clients get access to the company’s education center and resources, which are equipped with everything a trader needs to educate himself with new techniques and strategies.
Client education is a very important part of a trader’s journey and CryptoIFX takes that seriously.
Conclusion
CryptoIFX is a CFD and Forex broker that was founded in 2021 and is headquartered in St. Vincent and the Grenadines. This Forex trading broker provides five different trading accounts and floating spreads, along with access to more than 10,000+ different financial assets.
Overall, CryptoIFX is a legitimate online broker that is worth trading with.
Methodology
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Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
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While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.