CryptoIFX Review – Are They Safe or a Scam?
Our CryptoIFX Review 2023
The CryptoIFX trading platform is the most recent of all online derivatives trading products to enter the market. As such, it isn’t easy for potential clients to find decent info and decide if they like the brand. Enter CryptoParrot!
Our team of specialists has been assessing and reporting on all of the latest platforms for a long time and we never let a new brand go unnoticed. We’ve done a deep dive and compiled a thorough CryptoIFX review to show you just how their promise of 1:400 leverage, 500+ assets and fair spreads stack up in a real-world test.
It isn’t impossible to find promotional offers for new customers with online trading platforms. However, the vast majority decide to go down the route of offering a full and thorough trading product for all investors rather than bonus deals for new customers. In our experience, having a feature-rich trading tool from the get-go far outweighs any potential introductory offer. The CryptoIFX brand has decided to skip the new customer deals and go straight for the full working platform for all new customers as well.
What you can expect
New clients here will find loads of added extras to get them started on their online trading journey. Our CryptoIFX review found over 500 assets including Forex, cryptocurrencies, commodities and indices with a max 1:400 leverage on some products. In addition, there is a range of accounts to choose from with varying deposit requirements and benefits to be had.
Client funds are kept safe and all payments are securely managed online, which is similar to the info we found during our FXRevenues review as well. Plus, there are several ways to make deposits too. There is a range of insights to help stay ahead of the curve and CryptoIFX also gives access to the trading platform in various ways and across most devices. It’s a decent offering from this new brand and should be a valuable tool for both new and experienced traders.
If you are new to online trading, then the simple approach that CryptoIFX has adopted is going to please you. Getting started with this website is super easy and you will find all of the key areas laid out in a logical fashion. Before you unlock the trading products, there’s lots of information on the website to reassure you of the fantastic range of tools and safety protocols that this brand implements.
The menu bar offers links to information about the company and how they keep funds secure. This is in addition to access to all of the trading products that our CryptoIFX review found along with insights and support areas as well. The site is available in a range of languages including English, Dutch and Spanish to name but a few. Getting onto the trading platform can be done in a few different ways. It is possible to activate and cancel trades on desktops and mobile devices as well. A range of different operating systems are covered as standard giving complete coverage to the majority of interested investors.
Anyone looking to get started in a modest way will be pleased with the various accounts that are available. The rookie account has a minimum deposit of just $250 and includes a 0.01 minimum lot size, which is fairly standard as shown in our Maxiwyse review.
The rookie account gives you full access to the trading platform which includes mobile trades throughout the designated operating hours. Moving on, there is a basic, elite, elite plus and VIP offering as well. They all have varying levels of benefits and have distinct deposit levels too. From the basic account up, you will have the option to create an Islamic account, which removes all interest charges and stops you from gaining an advantage from these at the same time. Contact the site if you are interested in this.
Connection to the trading platform is fast thanks to the webtrader link. This will bring up all of the necessary tools and market information right there through your web browser. However, CryptoIFX hasn’t stopped there. They’ve also made it possible to download a desktop application as well as mobile apps available for Android and Apple.
Our CryptoIFX review found no evidence of proprietary software in place. Instead, one of the main off-the-shelf trading platforms is in use behind the scenes. Throughout our Kaarat review, we found that this is fairly standard for new trading platforms to offer their products in this way. These platforms will give you access to standard tools that allow you to begin trades, place stop losses and explore the various assets available quickly and simply. It is a one-stop trading gateway to global exchange markets and even rookie investors will be able to begin without any problems.
The various minimum deposits can be funded through the major payment providers: Visa, MasterCard and Bitcoin are available. It’s possible to make credit and debit card payments into your account as well as the various e-wallet options online. CryptoIFX also accepts bank transfers.
There are no additional fees for making payments into your account and with some gateways, the value will be reflected in your deposit almost instantly. Bear in mind that when you begin trading with this brand you will need to satisfy various anti-money laundering and know your customer protocols. This is fairly standard and may cause a small delay while waiting to verify your account.
CryptoIFX review of additional fees
While trading with this brand, you won’t incur any irregular fees for investing in Forex pairs, commodities or any of the other standard assets. However, it’s always worth checking out the commissions and fees section of the terms and conditions to familiarize yourself with any potential costs along the way.
As our Stockoza review showed us, percentage rates can be added to customer balances in certain circumstances with online trading platforms like these. The basic requirements are to keep your account current with a trading balance available at all times. If you do not meet their statistical requirements or leave the account idle, then it is possible that you can incur annual interest rates up to 4%. Incomplete trades may also suffer penalties between 1.8% and 6.4%. so make sure that any investments you make are followed through or canceled within the required time.
Contacting the team is nice and straightforward and can be done in several ways. To get hold of the support desk directly, there is a live chat service. Simply click on the message icon to send them your inquiry. Our research showed in our Greendax review that this is the preferred method of contact for most. Beyond that, there is also an online form available on the website as well as an email address and phone number too. During trading hours, they should get back to you quite swiftly but be prepared to wait a little longer if you’re contacting them at the weekend.
The brand is registered in St Vincent and the Grenadines and follows AML and KYC protocols rigorously. Payments are encrypted using the latest 256-bit SSL technology to ensure that your data is not compromised. Deposit funds are kept separately from the company funds. So they are protected in the event that the trading platform experiences any financial difficulties of its own.
One of the best additions to this brand is the insights and economic calendar that are available. This data shows you how things are looking on the markets at present along with previous and forecasted results as well. You can select the date to take a look at historical data which may well help you with your investment choices.
🤝 Is CryptoIFX reliable?
The extensive range of new products coming onto the online trading market does make it difficult to know who you can trust, our CryptoIFX review will answer all your questions and let you decide if it’s right for you.
❓What is CryptoIFX?
Understanding how the latest Forex products work can be a tricky business. We aim to provide all the info you need to take online investment to the next level.
💰 Have there been any CryptoIFX scams?
Any news and info regarding this brand will feature throughout our comprehensive review. Armed with these details, you can decide if you’d like to have an account here.
CryptoIFX reviews consistently report on a reliable product that’s easy to use for both newbies and experienced traders alike. The range of tools offers a flexible approach to investing in various markets and the insights can prove to be invaluable in the process. There are several account options and these should be sufficient to satisfy most requirements. It’s free to get started, and once your account is verified, you’ll have access to over 500 trade types to keep you occupied. We were also happy to see that the brand uses the latest encryption tech to keep personal and payment details safe while trading online.