IFS Markets Review (2022) Review

FS Markets is a Sydney-based Forex broker. They have been operating on the market for at least 15 years now as their registration license was first approved in 2006. Although it has a long history of 15 years it is not very well-known because the company’s activity is primarily focused on Australian clients.

They offer a wide range of flexible funding options. Deposits are a minimum of $100. The accessible instruments are a little more than 50 containing Currency pairs, indices, and Commodities. Surprisingly there are only two available account types and the fees are low, plus the broker does not charge any inactivity fees. IFS Markets offer a demo account.

Trading instruments and what can you trade?

You can trade:

• Forex
• Indices
• Commodities
• Metals
• Cryptocurrencies
• CFD`s

The standard in context with what other brokers offer.

The account types are made to suit different traders so that they can customise their trading experience to their needs.

Regulation

Registered by a trading name of Forex Financial Services Pty Ltd. and they are part of the IFS Group of companies. It holds client funds in a segregated bank account with 2 of the top banks in Australia, National Australia Bank (NAB) & Westpac.

The broker doesn’t avoid disclosing legal information, such as their regulation license number and various other features, such as their registration name and address. Everything can be found and downloaded on their website.

IFS Markets demo account

Very easy to find your way around and register for a demo account. The demo account is free of charge and it’s kept open for 30 days. The demo account has a virtual cash balance of $50,000. This allows you to try the different platforms, brokers service and practice your trading strategies.

Registering for an account

The “register” button is simply everywhere on their website. no problem in finding the action. A very simple form appears for me to fill in. It took me all together about 2 minutes. Then a message popped up with my account name, password and CTA to download the platform.

And I received the welcome email in a second with my password, login details and next steps how to get started. I appreciate this, as I am a beginner and always need some assurance on how to start or where to download the platform etc. I had it all in my email in a second.

And that is when I found out, that the DEMO account is not only for 30 days, free of charge but that it can only be used on the MT4 platform, my computer didn`t allow to download the platform, so I had problems loading up the demo to try and test. Difficult for a beginner I think and also, I gave up.

IFS Markets fees

IFS Markets does not charge any inactivity fees. Fees will be charged when using certain payment methods. Some payment systems have transaction limits, restrictions, and requirements which are indicated on their respective websites.

The only information about fees and commissions I found was in their FAQ. Their answer was: “IFS Markets on the standard account derives revenue from the small difference between the bid and the ask. On the “Pro account” the charge is a flat commission plus a smaller spread than the standard.”. But in other reviews I found, that IFS Markets fees are one of the lowest.

Trading platforms

The broker offers a few different trading platforms. Two of them are more popular:

• MetaTrader 4
• WebTrader
• MAM
• MT4 White Label

I liked that they had many platform tutorials, so although I couldn’t use the DEMO account, I went through the picture step by step tutorials.

IFS Markets website

My first impression of the website was good. You can see style and the time taken, to create a website like this. The transfer between pages is fast and the layout of the information is straightforward. CTA “open a live account” or “open a demo account” are everywhere, no need to look for them. In the top panel, you can go through options that open up like a list:

• Why IFS Markets
• Trading (here you can find what options you have – Forex, CFDs etc.)
• Partnership (This option has been made to award those individuals or companies that refer new clients).
• Platforms
• Trading recourses (News, economic calendar, platform tutorials, trading tools and trading central).Trading central screen shots:

And much more.

Social networks

I looked through the web, the header and footer and the FAQ and found no sign of them being active on any social networks. I found their address and telephone numbers several times. I also haven’t found a chat bot or live chat either. They have a contact form you fill in and send.

Advantages and disadvantages

IFS Markets is a regulated broker, with long history. They have a reasonable choice of instruments and platforms. Their website is very intuitive, fast and stylish. They offer picture step by step tutorials, economic calendar and news on their website, too. They are very transparent with their Legal Documentation & Disclosures, which you can download from their website.

What I found disappointing is the fact, I couldn`t try out the demo account. They`re not active on social networks, that does make things a bit unsatisfying for those, who “live” on social networks and share their opinions, experiences and create a small society.

Pros

• stylish website
• regulated
• since 2006
• choice of platforms

Cons

• no live chat
• no social networks
• demo account difficult to open
• no video tutorials

Our Score