IFX brokers is a very famous broker in South Africa. South Africa has become the center of attention for Forex traders in the region. Several brokers are stepping into the Forex market, which has raised the competition in the region.
In this article, we will review the IFX brokers deposit bonus and sign-up bonus program.
IFX brokers history and reputation
IFX brokers is a well-established broker in South Africa. It has been providing services for over a decade. IFX brokers has a good reputation in Forex trading circles.
FSCA regulates IFX brokers. FSCA is the South African government’s watchdog for financial companies. FSCA has licensed IFX brokers, and the broker has never lost its license.
IFX Brokers bonus programs
At the moment, IFX brokers is offering two bonus programs.
- Referral bonus
- Deposit bonus
Both bonus programs are good for traders. However, the focus of this review will be on the deposit bonus program.
Deposit bonus
The deposit bonus program is considered the most impactful program in Forex trading. A large number of new users are specifically looking for a broker with a decent bonus program.
IFX brokers’ bonus program is good and bad. It has a very attractive bonus scheme. However, the bonus program has a few limitations, which makes it a less ideal option for several traders.
The details of the bonus program
IFX brokers deposit bonus program is a 100 percent bonus for new traders. Your account has to be freshly made with IFX brokers. Additionally, your account should not be three years old. If your account has already been registered with IFX brokers, you will not be eligible for the bonus amount. The details of the bonus program in a nutshell are;
- 100 percent bonus on the deposit amount
- Account has to be new
- The account can request bonus amount within three months
The good
The good stuff about the IFX brokers bonus program is that it offers higher than usual bonus rates. Several brokers who offer deposit bonuses are capped at 50 percent bonus at most. The bonus scheme is legit as well. Hence, you can trust the bonus program.
- Higher than usual 100 percent bonus
- Legit bonus scheme
The bad
The not-so-good stuff about IFX brokers is the limitations to their bonus program. The bonus is limited to the minimum deposit limit.
- 250 USD /3500 ZAR deposit limit
- Lack of bonus for demo accounts
- High deposit account limit
To receive and qualify your account for the bonus you need to deposit at least 250 USD. However, you will not get a bonus amount for deposits over 1000 USD.
Frequently asked questions
Is IFX brokers a regulated broker?
Yes, IFX brokers is regulated broker by FSCA.
Does IFX Brokers have a referral bonus program?
Yes, IFX brokers is offering a referral bonus program.
What is the minimum and maximum deposit limit amount for IFX brokers?
The minimum deposit amount for IFX brokers is 250 USD, and the maximum deposit amount eligible for the bonus is 1000 USD.
Final Word
Overall in our opinion, IFX brokers’ deposit bonus program is not for everyone. However, people who pursue Forex trading professionally should consider IFX brokers. In that case, the bonus program is a nice cherry on top.
