IFX Brokers vs. Exness: A Quick Comparison

Overview of Exness and IFX Brokers

Exness is the brand name of the global brokerage firm that offers its services through offices located around the globe. Exness is a multiple-award-winning broker that provides a variety of account types to meet the needs of each trader.

Exness has been operating since 2008 and is regulated by FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, and FCA. Exness has a trust score of 97 and features a choice between several account types.

IFX Brokers has been operating since 2018 and is well-regulated by the FSCA in South Africa. With a trust score of 93, IFX Brokers is a safe option for South African traders, offering 70 forex pairs and several other CFD instruments across asset classes.

Side-by-Side Comparison of Exness and IFX Brokers

  IFX Brokers Exness Regulation FSCA FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA Trading Platform MetaTrader 4MetaTrader 5 MetaTrader 4MetaTrader 5Exness AppExness Terminal Withdrawal Fee No No Demo Account Yes Yes Min Deposit $10 $10 Leverage 1:500 Unlimited Spread Variable, from 0.5 pips Variable, from 0.0 pips Commissions From $6 From $0.1 per side, per lot Margin Call/Stop-Out M – 40% - 60%S/O – 10% - 30% 60%/0% Order Execution Market Market No-Deposit Bonus No No Cent Accounts Yes Yes Account Types IFX Cent AccountIFX Standard AccountIFX Premium AccountIFX VIP AccountIFX Islamic Account Standard AccountStandard Cent AccountRaw Spread AccountZero AccountPro Account FSCA Regulation Yes Yes ZAR Deposits Yes Yes ZAR Account Yes Yes Customer Service Hours 24/5 24/7 Retail Investor Accounts 5 5 Islamic Account Yes Yes Minimum Trade Size 0.01 lots 0.01 lots Maximum Trade Size 100 lots Unlimited Minimum Withdrawal Time Instant Instant Maximum Estimated Withdrawal Time 5 working days Up to 72 hours Instant Deposits and Instant Withdrawals? Yes Yes

Spreads and Fees

IFX Brokers

• Minimum deposits range from 10 USD to 1,000 USD.
• Spreads start from 0.5 pips EUR/USD on the IFX VIP Account.
• Commissions start from 6 USD round turn.
• IFX Brokers charges a 2.5% deposit fee on bank wire.
• IFX Brokers charges an inactivity fee on dormant accounts.
• Currency conversion fees are charged if deposit/withdrawal currencies differ from the account base currency.

Exness

• Minimum deposits range from 10 USD to 500 USD.
• Spreads start from 0.0 pips EUR/USD on the Raw Spread and Zero Accounts.
• Commissions start from 0.1 USD on shares.
• Exness does not charge any deposit or withdrawal fees.
• Exness does not charge any inactivity fees.
• Currency conversion fees are charged if deposit/withdrawal currencies differ from the account base currency.

Deposits and Withdrawals

IFX Brokers

IFX Brokers offers these payment methods for deposits and withdrawals:

• Ozow
• PayFast
• Debit/Credit Card
• Wire Transfer
• Skrill
• Neteller
• Cryptocurrencies

Exness

Exness offers these payment methods for deposits and withdrawals:

• Bitcoin
• Debit Card
• Credit Card
• Internet Banking
• Skrill
• Neteller
• Perfect Money
• Tether (USDT OMNI)
• WebMoney
• Mybux
• Ozow

Final Thoughts

IFX Brokers, an FSCA-authorized broker, is a favorite among South African traders thanks to its variety of ZAR accounts and support for trading on MetaTrader 4 and MetaTrader 5.

Exness is a good all-around broker for most traders. It has 24/7 customer assistance, low-cost starter accounts, favorable trading terms for Pro Accounts, and support for the MetaTrader 4, MetaTrader 5, and its unique platform.

Also read: Is it safe to trade forex in South Africa?