The IFC Markets account types available to traders will differ depending on your chosen trading platform, and whether you opt for fixed or floating spreads. The trading platform choice will influence the IFC Markets fees significantly. An IFC Markets demo account is available to all traders. Read my in-depth analysis of IFC Markets account types to ensure you pick the best one for your intended trading approach and avoid overpaying when it comes to potential trading costs.
IFC Markets Account Types
IFC Markets Account Types Features | NetTradeX Standard Fixed Spread | NetTradeX Standard Floating Spread |
Minimum Deposit | $1,000 ($1 for beginner accounts) | $1,000 ($1 for beginner accounts) |
Minimum Forex Spreads | 1.8 pips | 0.4 pips |
Commissions | Commission-free | Commission-free |
Maximum Leverage | 1:200 (1:400 for beginner accounts) | 1:200 (1:400 for beginner accounts) |
Minimum Trade Size | 0.10 lots (0.001 lots for beginner accounts) | 0.10 lots (0.001 lots for beginner accounts) |
Account Base Currencies | USD, EUR, JPY, and BTC | USD, EUR, JPY, and BTC |
IFC Markets Account Types Features | MT4 Standard Fixed Spread | MT4 Micro Fixed Spread |
Minimum Deposit | $1,000 | $1 |
Minimum Forex Spreads | 1.8 pips | 1.8 pips |
Commissions | Commission-free | Commission-free |
Maximum Leverage | 1:200 | 1:400 |
Minimum Trade Size | 0.10 lots | 0.01 lots |
Account Base Currencies | USD, EUR, JPY, and BTC | USD, EUR, JPY, and BTC |
IFC Markets Account Types Features | MT5 Standard Fixed Spread | MT5 Micro Fixed Spread |
Minimum Deposit | $1,000 | $1 |
Minimum Forex Spreads | 0.4 pips | 0.4 pips |
Commissions | Commission-free | Commission-free |
Maximum Leverage | 1:200 | 1:400 |
Minimum Trade Size | 0.10 lots | 0.01 lots |
Account Base Currencies | USD, EUR, JPY, and BTC | USD, EUR, JPY, and BTC |
How to Open an IFC Markets Account - Step by Step
In conducting my IFC Markets broker review I found that traders can open their chosen IFC Markets account type via a user-friendly online application.
Below is a step-by-step guide on how to open IFC Markets accounts:
1. Click “Open Account” or “Start Trading” on the IFC Markets homepage.
2. Fill out your name, e-mail address, desired password, country of residence, and phone number. Click “Register.” Traders can also use Facebook ID to register quickly.
3. Follow the on-screen instructions to choose your deposit amount and payment processor and download your trading platform.
4. IFC Markets complies with global AML/KYC standards, making account verification mandatory. Most traders will satisfy this requirement by uploading a copy of a government-issued ID and one recent proof of residency document.
Restricted countries:
- IFC Markets does not provide a detailed list of accepted countries, but the footer of its homepage lists the United States, the Russian Federation, BVI, and Japan as restricted countries.
IFC Markets Account Features
The IFC Markets minimum initial deposit is $1,000 or a currency equivalent for its standard account and $1 for its micro account type. The latter has an equity limit of $5,000 before converting it to a standard account is required. IFC Markets withdrawal methods are identical for all IFC Markets account types. The trading platform choice impacts IFC Markets trading fees, with the MT4 platform at a notable pricing disadvantage.
All IFC Markets account types offer traders the following:
- MT4, MT5, and NetTradeX trading platforms
- Algorithmic trading
- Maximum Forex leverage of 1:200 (1:400 for micro accounts)
- Negative balance protection
- Unrestricted, customizable IFC Markets demo accounts
- USD, EUR, JPY, and BTC as account base currencies
- Swap-free Islamic accounts with 14 days time-limited positions
- An account balance above $50,000 automatically results in an upgrade to VIP status with preferred trading terms, including free VPS hosting
The primary differences between the IFC Markets account types are the IFC Markets fees charged, the minimum lot size requirements, and the IFC Markets minimum deposit requirement.
How the IFC Markets Account Types Differ
IFC Markets Account Types Features | NetTradeX Standard Fixed Spread | NetTradeX Standard Floating Spread |
Minimum Deposit | $1,000 ($1 for beginner accounts) | $1,000 ($1 for beginner accounts) |
Minimum Forex Spreads | 1.8 pips | 0.4 pips |
Commissions | Commission-free | Commission-free |
Total Fees per 1.0 standard round lot | $18.00 | $4.00 |
Minimum trade size | 0.10 lots | 0.01 lots |
IFC Markets Account Types Features | MT4 Standard Fixed Spread | MT4 Micro Fixed Spread |
Minimum Deposit | $1,000 | $1 |
Minimum Forex Spreads | 1.8 pips | 1.8 pips |
Commissions | Commission-free | Commission-free |
Total Fees per 1.0 standard round lot | $18.00 | $18.00 |
Minimum trade size | 0.10 lots | 0.01 lots |
IFC Markets Account Types Features | MT5 Standard Fixed Spread | MT5 Micro Fixed Spread |
Minimum Deposit | $1,000 | $1 |
Minimum Forex Spreads | 0.4 pips | 0.4 pips |
Commissions | Commission-free | Commission-free |
Total Fees per 1.0 standard round lot | $4.00 | $4.00 |
Minimum trade size | 0.10 lots | 0.01 lots |
IFC Markets Account Pros and Cons
Traders should consider the pros and cons of the different IFC Markets account types before funding a live account.
The Pros of the IFC Markets Account Types
- Three trading platform choices
- Algorithmic trading
- PAMM accounts for MT4/MT5 for traditional account management services
- 1:200 maximum leverage with negative balance protection
- Balanced asset selection
- Creation of synthetic assets through the unique Portfolio Quoting Method
- A choice of payment processors, including the use of cryptocurrencies
The Cons of the IFC Markets Account Types
- The trading platform choice impacts IFC Markets fees, with MT4 being more expensive than MT5 and NetTradeX
- Expensive IFC Markets fees for trading instruments except the following currency pairs AUD/USD, EUR/USD, USD/CAD, USD/CHF, and USD/JPY
Bottom Line
The various IFC Markets account types have different fees based on the trading platform selected. For example, the standard account compared to other account types offered by IFC Markets has a higher minimum deposit requirement of $1,000 with a minimum trade size of 0.10 lots. While traders benefit from the unique Portfolio Quoting Method, they must accept higher trading fees for some assets. However, this is not the case for the AUD/USD, EUR/USD, USD/CAD, USD/CHF, and USD/JPY currency pairs. Traders can trust IFC Markets, a well-regulated broker with 18+ years of experience, compliant with competent regulators, offering third-party insurance by Hamilton Group’s Syndicate 4000, negative balance protection, and segregation of client deposits from corporate funds. The lot size is the primary difference between micro and standard accounts, with a standard lot equaling 100,000 currency units and a micro lot 1,000 currency units. IFC Markets is an STP-type broker with plans to offer an ECN setup soon. A commission-based account, with raw spreads, low commissions, volume-based rebates, and algorithmic trading functionality is the best account type for Forex traders. The IFC Markets minimum deposit requirement is $1,000 for standard accounts and $1 for micro account types. Anyone over 18 who does not reside in a restricted country identified by IFC Markets can open an IFC Markets account. Yes. IFC Markets has a micro account with a $1 minimum deposit requirement and a minimum trade size of just 0.001 lots.FAQs
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