Author:
hannah
Last Updated on:
16.09.2024
Topic:
Review
Topic:
Review
Highlights
Highlights
CryptoIFX Review – Are They Safe or a Scam?
Our CryptoIFX Review 2024
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.
Table of Content
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.
CryptoIFX Forex
Our CryptoIFX review of the Forex product returned decent results and we were pleased to see how many trading pairs were available. All Forex trades are completed as CFDs. And this removes the need to purchase and own any of the trading currencies. In effect, you are speculating on the rise and fall of the two currencies against each other. Forex trade lots are usually much larger than commodities, for example, as movements in the market are very small. All of the regular pairs are here including EUR/GBP, USD/YEN, AUD/USD, USD/EUR and many others. CryptoIFX also has a range of exotic trades on offer such as USD/NOK. These markets can be more volatile but give traders the chance to see more sizable movements.
There aren’t any unnecessary commissions charged by the brand for regular trading. They work in a traditional fashion whereby profits are made from the spread without any need to pass on costs to the customer. However, it is possible that additional interest can be charged in certain circumstances and close attention to the terms and conditions should be paid.
Inactivity on the account or accounts that do not meet the statistical requirements can be subject to various charges. But this is not the only instance of a brand adding these charges; we’ve seen it in many other brand reviews. Getting money into trading accounts is free so there are no additional costs for using your credit card or e-wallet to send cash in either direction.
For Forex trading, there is a decent 1:400 leverage offered by the brand. This is much larger than some platforms provide. This gives traders the opportunity to access much larger investments than they would ordinarily find. Every dollar in your account exposes you to $400 worth of trading. The tools available make it simple to select your pairs and this process is assisted with the use of valuable insights. This data is essential for anyone looking to see how the markets have moved recently. Our CryptoIFX review was satisfied with the conditions controlling the platform as a whole.
For a new trading platform, CryptoIFX has gotten many things right. The low-latency trades and high leverage for Forex make this an interesting product that is worth your consideration. Clarity surrounding potential interest would be nice but there is an extensive T&Cs .PDF that holds lots of info on commissions and other charges. Getting up and running is super-fast and doesn’t cause any unnecessary headaches along the way. The range of accounts and trading tools is fantastic. The range of currency pairings may not be as extensive as some platforms but it should satisfy most traders.
CryptoIFX Crypto
Many traders love the idea of investing in cryptocurrency. However, this highly volatile market can make it a very unstable choice for those who aren’t 100% sure about how to keep their trades safe. The prices rise and fall throughout the day, weeks and months and many people have made a lot of money investing in Ethereum and Bitcoin, for example, in a short space of time. But the flip side of that is that plenty of others have experienced the negative effects.
The simple solution to this is to trade in cryptocurrency as a contract for difference giving you exposure to the markets without purchasing the currency in the first place. The advantages of this are not only that you can get in and out quickly but you don’t have to worry about owning a crypto wallet and learning the intricacies of this product either. It’s the perfect solution for all types of currency traders.
As with all of CryptoIFX’s assets, there is a spread to overcome before you can see a profit or loss on your investment. But this gives the investor a great advantage in that they do not need to pay additional fees to use the services that this brand offers. You get to trade daily without paying brokerage fees and the brand takes its cut as you speculate.
There are no hidden costs for getting cash in and out of your account. And once you have your minimum deposit requirement satisfied, you are able to begin trading on any of the cryptocurrencies available. Running your account may incur interest payments if you do not meet the minimum requirements set out by the company. More information can be found on this in their full terms and conditions which are available through the website.
The trading conditions are very favorable here for those looking to invest in cryptocurrencies. Crypto FX crypto products are simple to access and one-click trades come as standard. There is extremely low latency on this platform and that means that trades are executed quickly allowing you to benefit from the very latest market prices. The problem we have found with other brands in the past is that crypto markets move at an extremely high pace. And this can leave an investor short on a trade when the previous calculations had indicated better profits.
You won’t have those issues here. There are many cryptocurrency types available for customers and all of these trades can be placed using the downloadable desktop and mobile applications. There is also a trading platform that runs directly through the website if you would prefer to use that.
Our CryptoIFX review found a solid product that is perfect for anyone looking to invest in these highly volatile products. Remember that prices can go up and down and may do so quickly with these types of trades. We advise everybody to do their homework before embarking on a cryptocurrency trading adventure.
🤝 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.
CryptoIFX Forex
T&Cs apply, 18+
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