IFC Markets – Get the Scoop on This Offshore Broker
IFC Markets – Get the Scoop on This Offshore Broker

IFC Markets is an online broker dealing in forex and CFDs. It is the brand name under which the company IFC Markets Corp operates. This company has its address listed as in the British Virgin Islands. The broker maintains current registration with the Financial Services Commission there. This is a common jurisdiction for brokers to register in to avoid the stricter rules of other regulators. The broker is part of a larger group called the IFCM Group, which includes brokers in several different nations.

IFC Markets 2023 – Fresh Perspective About the Broker

Let’s take a look at IFC Markets from a fresh angle of 2023. What has changed, and what remains the same?

First of all, IFC Markets Group currently consists of IFC Markets Ltd., registered in Labuan, and IFCMARKETS CORP., registered in the British Virgin Islands. Both entities have regulations in their respective regions obtained from LFSA and BVIFSC. However, the issue lies in their credibility. None of these authorities belongs to a Tier 1 zone, where we can put FCA, ASIC, BaFin, or CONSOB. Hence, reduced fund safety.

In addition to warnings issued in Canada, this broker received an official ban in Italy. Namely, Italian regulator CONSOB republished the BCSC warning after receiving complaints from Italian citizens. Since we know that offshore brokers don’t comply with European regulatory regimes and risk limitations, it’s no wonder CONSOB has decided to put an end to their business.

IFC Markets Warning From Consob

In addition, there are a number of concerning reviews lately appearing on social media and Trustpilot. While the broker still has a solid score, if you check out the most recent writings, you will find lots of issues with trading systems, withdrawals, and other problems that shouldn’t occur with licensed investment firms.

With everything being said, we must ask – does IFC Markets still seem safe? We don’t think so. A rising number of regulators and investors are expressing their concerns, so we can only listen and advise customers to find Tier 1 licensed companies with transparent terms and firm liquidity providers.

Misleadingly Low Micro Deposit

While IFC Markets technically offers a Micro account with a minimum deposit of just $1, the minimum deposit to access most features through a Standard account is $1000. Most similar brokers require only $100, with some going as high as $250.


The broker offers fixed spreads that are mostly middle of the road, with the EUR/USD pair running at 1.8 pips. Leverage is available up to 1:400, a dangerously high level that could lead to new traders losing everything before they know it. The ESMA only allows brokers within the EU maximum leverage of 1:30.

Trading Platforms Available with IFC Markets

There are several platforms to choose from when investing with IFC Markets. They have both MetaTrader 4 and MetaTrader 5. These two are the industry standard for online forex and CFD brokers. Most traders are familiar with their extensive range of features. The broker also has its own platform called NetTradeX. This platform was initially launched in 2006. There is a version for Windows and apps available for both iOS and Android devices.

Warnings from Canadian Provincial Regulators

ifc markets review

The provincial financial regulator for the Canadian province of Manitoba, the MSC, issued a warning against doing business with IFC Markets in April 2020. The broker does not have the required registration to offer financial services to Canadian services. The regulator claims that, despite this, the broker has been targeting residents of Manitoba through online classifieds.
The provincial regulator for British Columbia, the BCSC, issued a similar warning in May 2020. They stress that IFC Markets does not have the registration to trade or advise on securities or derivatives in Canada. The regulator says that they know that the broker has been accepting Canadian residents as clients, despite having no registration.

Fight Back Against Offshore Brokers

There isn’t much that traditional methods can do to help you with an offshore broker. Banks and payment processors likely won’t be able to help. Any international cases would take years to handle through the courts. Let our experienced team handle this for you. Contact us today for a free consultation and to start recovering your funds.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
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