IFGM Trade Review 2024
Website: www.ifgm.com
Min. Deposit: US$ 200
Leverage: 1:500
Trading Platforms: MT4, IFGM WebTrader
Regulation: ASIC
Headquarters: Australia
Founded: 2012
Regulatory Licenses:
- Intelligent Financial Markets Pty Ltd (IFM) - authorized by ASIC (Australia) registration no. AFS 426359 ABN 48 155 185 014 (no longer active)
Updated on March 14, 2024
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Yes, IFGM is a safe broker. Since its inception in 2012, IFGM has established itself as one of the most experienced and reputable MT4 brokerage services. It operates under the stringent regulations of the Australian Securities and Investment Commission (ASIC), ensuring a high level of safety and reliability for its clients. IFGM has implemented various protective measures, including but not limited to, the segregation of traders' funds at the Commonwealth Bank, one of the largest banks. The broker also participates in schemes and employs transaction encryption, in addition to complying with internal procedures such as risk management, audits, and accounting. The regulatory status IFGM holds with ASIC, a reputable authority in a popular investment destination, significantly reduces the risk of scams. However, traders should always conduct their diligence to verify the legitimacy of a broker's incorporation information and avoid those that may falsify their status.
The trading platform offered by IFGM is the well-known MetaTrader4, available in desktop and mobile versions, alongside IFGM's WebTrader, which enables trading directly from a web browser. The platforms are compatible across all operating systems and devices, providing access to a wide range of trading instruments under unparalleled conditions. They feature almost identical functionalities, supporting all trading strategies, including Hedging, Expert Advisors, and one-click trading. Despite the platform's advanced capabilities, it is essential to be equipped with the latest trading tools. IFGM continuously works to provide up-to-date tools that enhance trading capabilities, such as multiple chart types for comprehensive analysis and a vast array of technical analysis tools with numerous indicators. Moreover, IFGM offers PAMM and MAM accounts, along with the opportunity to engage in Futures and Options trading, including Automated Futures. The futures trading systems are provided by a US third-party and are fully automated software that executes orders at high speeds using algorithms.
Another critical aspect to consider when selecting a broker is the trading fees and account features. Therefore, let's delve into the offerings of IFGM. The broker provides accounts tailored to accommodate various trader types, offering three account types: Standard Account, Pro Account, and Islamic Account. These accounts offer maximum leverage up to 1:500 alongside variable tight spreads. For trading costs, Standard account holders face spreads with access to nearly all instruments. Pro accounts, aimed at active and professional traders, incur a commission for traded instruments in addition to interbank spreads starting from 0.0 pips. The Islamic Account, catering to day traders in adherence to Sharia law, operates without any swap charges or commissions.
IFGM's spread table for the most traded instruments offers an example of minimum spreads. These costs are not guaranteed and are presented for reference only, as fees may fluctuate due to market conditions and liquidity. Additionally, IFGM's fees can be compared with those of its competitor, FBS. For instance, the minimum spreads for some of the assets are as follows: EUR/USD at 1.1 pips, Gold at 0.50, and BTC/USD at 50. It's also important to consider IFGM's overnight fee, which is charged in addition to the trading fee for holding a long-leveraged position overnight. For example, the overnight fee for buying 1 lot of EUR/USD is -1.22, while selling is 0.62.
The broker has also established the IFGM Prestige Client Club, which offers benefits and additional opportunities for profit. VIP club members enjoy reduced ultra-low trading costs, negotiable spreads, access to more advanced education through private courses, and a personal dedicated account manager. Membership to this exclusive club requires a balance of $100,000 and a minimum trading volume of 50 lots per month, providing a selective opportunity for traders to turn their account into a VIP account.
Leverage, often referred to as a financial boost provided by the broker to the trader, opens up a plethora of trading opportunities. This is because it allows traders to operate with a capital size far exceeding their initial investment, thus offering access to a wider range of trading options. However, it's essential to note that while leverage can significantly amplify potential gains, it simultaneously escalates the level of risk. Particularly at its highest settings, leverage can be perilous if not correctly managed due to the amplified risks involved. Despite regulatory restrictions imposing limits on leverage ratios worldwide, IFGM continues to offer a high leverage level of 1:500 for Forex instruments. This is possible as the Australian Securities and Investments Commission (ASIC) still permits Australian traders to utilize such levels.
IFGM offers a variety of funding methods, providing flexibility and convenience for account funding at any time. The options established by IFGM include credit and debit cards, bank wire transfers, local bank transfers, UnionPay, and e-payments such as PayPal, Skrill, Neteller, and BPay, POLi. The minimum deposit for a Standard Account begins at $200, catering primarily to novice traders. Conversely, the Pro Account, which is tailored for more active traders, boasts more competitive conditions but requires a maintenance deposit of $1,000. Regarding withdrawals, IFGM covers all deposit and withdrawal fees from the company's side, which is a significant advantage for clients. All financial transactions are conducted through a secure connection via the Client Portal.
The comprehensive review of IFGM reveals that the brokerage firm is a trustworthy entity that adheres strictly to regulatory guidelines and laws. This adherence ensures a level of security and peace of mind for traders, allowing them to focus solely on their trading activities. IFGM offers a diverse selection of trading instruments, and its platform and technical solutions are both advanced and continuously evolving. The brokerage also provides various account types, which allow traders to start with relatively small deposits. Additionally, it extends support and educational materials alongside reward programs. The company also provides a VIP Club service and some unique offerings like Automated Futures and Options trading. Collectively, these features make IFGM an attractive option for traders. However, it's worth noting that the official IFGM website is currently inactive, leading to the brokerage being considered inactive. Despite this, the trading name registration remains in the ASIC listing. It is advisable to conduct thorough research before engaging with any offers from IFGM or its registered company, and to remain cautious. Your thoughts and experiences with IFGM are welcome in the comment section below.
