Thinking of getting into business with InfyFX? Here is what you must know about this broker. Carefully read this review to find out if infyfx.com is the trading platform you will want to trade with.
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About InfyFX Broker
InfyFX is an offshore brokerage company with a lot of promises for traders. The broker is located in UK.
The broker claims to offer the following benefits for forex traders.
There are different account types InfyFX offers. See below.
In spite the trading instruments InfyFX claims to offer, forex traders must know they are dealing with an unknown broker which does not have a regulation over its head. The broker is actually from Saint-Vincent and the Grenadines, SVG, which is known for not regulating or monitoring forex brokers. Then, give room for scam broker.
infyfx.com: Reasons to Avoid This Broker
Firstly, infyfx.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, UK does not recognize this broker.
Secondly, we noticed infyfx.com has a demo account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
InfyFX does not specify what its charges are on every withdrawal forex traders make. This leaves us to believe that the broker has some hidden charges for any withdrawal.
Minimum Deposit
InfyFX minimum deposit from the account type shows $100.
As for the payment methods, we can make payment via Skrill, Neteller and other e- wallets. However, you should not consider making any payment with this broker because it is a risk. So beware!
InfyFX Platform
InfyFX offers MT5 (Industry standard trading platform) which is revered for its automated trading features, as well as its user-friendly interface.
As for the leverage, it can get up to 1:400. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
InfyFX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Minimum Trade Deposit $100
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is infyfx.com a Reliable Broker?
infyfx.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
