IFC Markets Review 2025 - 4.9/5

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IFC Markets in brief

Our opinion of IFC Markets

We particularly liked the variety of trading instruments offered by IFC Markets, including forex, stocks, commodities, indices, ETFs, and cryptocurrencies. The availability of MetaTrader 4, MetaTrader 5, and the proprietary NetTradeX platform gives traders multiple choices for executing trades, making the platform suitable for both beginners and experienced traders.

Additionally, the ability to create custom trading instruments (PCI Technology) is a standout feature that is rarely found among other brokers.

We would have liked to see stronger regulatory oversight from Tier-1 financial authorities such as the FCA, ASIC, or IIROC, which would further enhance trust and security for Canadian traders. While the spreads are competitive, the presence of withdrawal fees on certain methods is something traders should consider.

Additionally, the lack of built-in copy trading features makes the platform less appealing for passive investors who prefer social or automated trading solutions.

Who is IFC Markets designed for?

IFC Markets is best suited for traders who are looking for a diverse range of tradable assets, competitive spreads, and flexible trading platforms. It is a strong choice for active forex and CFD traders, but those seeking direct stock investments or advanced automation features may find it lacking.

Let's find out more about our test results.

Security and reliability 4.3/5

IFC Markets is an established forex and CFD broker that has been operating since 2006, providing access to over 600 financial instruments, including forex, stocks, commodities, indices, ETFs, and cryptocurrencies.

The broker serves tens of thousands of traders worldwide and is recognized for its proprietary trading technology, particularly its PCI (Portfolio Quoting Method), which allows traders to create custom trading instruments.

While IFC Markets has not won major industry awards, it is known for competitive spreads, multiple platform offerings (MT4, MT5, NetTradeX), and flexible account options, including Islamic accounts.

Is IFC Markets Reliable for Canadian Traders?

IFC Markets is regulated by two offshore financial authorities:

• BVI FSC (British Virgin Islands Financial Services Commission)
• LFSA (Labuan Financial Services Authority, Malaysia)

However, it is not regulated by Canadian financial authorities, meaning it is not registered with the Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC), or the Alberta Securities Commission (ASC). This means that while Canadian traders can access the platform, they do not have local investor protection under IIROC or CIPF.

Risk Management Features

To ensure secure trading, IFC Markets provides several risk management tools:

• Negative Balance Protection, ensuring traders do not lose more than their account balance.
• Fixed and floating spreads, allowing traders to choose the pricing model that suits their strategy.
• Stop-loss and take-profit orders to help manage risk on every trade.
• Leverage up to 1:400, which can increase both potential profits and risks.

Market and asset diversity 4.5/5

IFC Markets is positioned as a multi-asset broker offering a broad range of tradable instruments, including forex, stocks, commodities, indices, ETFs, bonds, and cryptocurrencies. It stands out by providing both direct market access (DMA) and CFD trading, allowing traders to speculate on price movements or invest in real assets depending on their strategy. The broker offers over 600 trading instruments, which is above the market average for forex and CFD brokers.

One of IFC Markets’ key strengths is its Portfolio Quoting Method (PCI Technology), which allows traders to create custom synthetic trading instruments by combining different assets. This is a unique feature not commonly found among brokers, giving traders additional flexibility in portfolio management.

However, despite its strong asset variety, IFC Markets does not provide direct access to global stock exchanges, meaning traders can only buy stock CFDs rather than actual shares. Additionally, the number of cryptocurrency CFDs is lower than at some competitors, which may limit options for crypto-focused traders.

Our opinion on the diversity of IFC Markets offerings

IFC Markets offers a good selection of forex, indices, commodities, and ETFs, making it a solid choice for traders looking for diverse market exposure. The Portfolio Quoting Method (PCI Technology) is a unique feature that provides additional flexibility. However, the lack of direct stock trading and a relatively small number of crypto assets slightly lower its diversity rating compared to brokers with a broader selection of equities and digital currencies.

Platforms and tools 4.9/5

IFC Markets provides access to three trading platforms, giving traders flexibility in choosing the best option for their strategy. Whether traders prefer industry-standard platforms like MetaTrader 4 & MetaTrader 5 or a proprietary solution like NetTradeX, IFC Markets covers a broad range of needs.

📊 MetaTrader 4 (MT4)

• One of the most popular platforms in the forex and CFD industry.
• Includes 30+ built-in technical indicators, multiple chart types, and automated trading via Expert Advisors (EAs).
• Supports hedging, but lacks Depth of Market (DOM) functionality and advanced order types.
• Available on desktop, web, and mobile (iOS and Android).

📈 MetaTrader 5 (MT5)

• More advanced than MT4, offering 38+ built-in indicators and 21 timeframes for detailed market analysis.
• Includes Depth of Market (DOM), allowing traders to see real-time order book activity.
• Supports both hedging and netting, making it a flexible platform for various trading strategies.
• Features more order types, including stop-limit orders, which are not available on MT4.

⚙️ NetTradeX (Proprietary Platform)

• Exclusive to IFC Markets, offering custom trading instruments through PCI (Portfolio Quoting Method).
• Allows traders to combine multiple assets into a single trading instrument, a unique feature not available in MT4 or MT5.
• Offers deep analytical tools and advanced risk management settings.
• Available on Windows, Android, and iOS but lacks third-party integrations like Expert Advisors found in MetaTrader.

Analysis Tools and Decision Aids

✅ Technical Analysis Tools – All platforms provide customizable charts, multiple timeframes, and a range of technical indicators.
✅ Automated Trading – MT4 and MT5 allow Expert Advisors (EAs) and algorithmic trading, but NetTradeX does not support automated scripts.
✅ Economic Calendar – Traders can track important financial events that impact the market.
✅ Depth of Market (DOM) – Available only on MT5, providing insight into real-time market liquidity.
✅ Custom Trading Instruments (PCI) – Unique to NetTradeX, allowing traders to build their own synthetic assets.
✅ Risk Management Tools – Includes stop-loss, take-profit, and trailing stops for better trade execution.

Fees, spreads and commissions 4.3/5

IFC Markets positions itself as a low-cost trading broker with tight spreads and competitive fees, particularly in forex and CFD trading. The broker offers both fixed and floating spreads, giving traders flexibility in choosing their preferred pricing model. With no commissions on most instruments, IFC Markets aims to provide a cost-effective trading environment for both beginners and experienced traders.

However, some withdrawal methods incur fees, and overnight financing (swap fees) applies to leveraged positions, which is standard for most CFD brokers. While spreads on forex pairs are competitive, cryptocurrency spreads tend to be higher than the market average, making it less attractive for crypto traders.

Comparison of IFC Markets Fees vs. Market Average

Other Fees

✅ Deposit Fees: Free for most methods (bank transfer, e-wallets, crypto payments).
❌ Withdrawal Fees: Varies by method – bank wire withdrawals incur a fee, while some e-wallets are free.
❌ Overnight Fees (Swaps): Applies to leveraged positions held overnight, varying by asset.
❌ Inactivity Fee: No inactivity fee, unlike some competitors.

How is IFC Markets's price positioning?

IFC Markets offers competitive spreads, particularly in forex and indices, making it a strong choice for cost-conscious traders. The lack of commissions on most assets is a plus, but higher-than-average spreads on cryptocurrency CFDs and some withdrawal fees slightly reduce its cost efficiency. Overall, traders looking for low spreads in forex and indices will find IFC Markets to be an affordable broker, but those focusing on crypto might find better alternatives elsewhere.

Customer reviews 3.7/5

IFC Markets has a Trustpilot rating of 3.7/5 based on 525 reviews, reflecting a mix of positive and critical feedback. Many traders appreciate its low forex spreads and platform choices, while some have noted issues with withdrawal fees and customer service response times.

Here are some recent testimonials from Canadian users:

• Kevin R (Toronto, ON - January 8, 2025):  "I've been using IFC Markets for over a year, and my experience has been mostly positive. Their spreads on forex pairs like EUR/USD are some of the lowest I’ve seen, and I appreciate the ability to choose between fixed and floating spreads. The NetTradeX platform is a nice addition, though I personally stick with MT5. Withdrawals take a couple of days, but I haven’t had any major issues so far."
• Sophie L (Vancouver, BC - December 15, 2024): "I like the variety of assets available on IFC Markets, especially the ability to trade both forex and stock CFDs in one place. However, I did run into a small issue when trying to withdraw funds via wire transfer—the fees were higher than I expected, and it took almost five days to process. Other than that, the trading conditions are great, and their customer support was helpful when I had platform-related questions."
• James T (Montreal, QC - November 28, 2024): "IFC Markets is decent for forex trading, but it has its downsides. The spreads are competitive, and I’ve made some good trades, but I find their cryptocurrency spreads too high compared to other brokers. Also, the mobile app needs improvement—it sometimes lags when placing trades. I’d recommend it for forex and indices, but if you’re looking to trade crypto, there are better options out there."

How is IFC Markets positioned in relation to its competitors?

Conclusion of our review on IFC Markets

IFC Markets stands out as a flexible and cost-effective broker for traders looking for forex, CFDs, and commodity trading. With low deposit requirements, commission-free trading on most assets, and access to both MetaTrader and its proprietary NetTradeX platform, it offers a versatile experience for active traders. Its unique Portfolio Quoting Method (PCI Technology) allows traders to create custom instruments, setting it apart from many competitors.

While the broker does not provide copy trading and lacks Tier-1 regulation, it still maintains a secure trading environment with negative balance protection and competitive spreads. Traders seeking a broad range of assets and a mix of industry-standard and proprietary trading platforms will find IFC Markets to be a strong option.

Before opening a IFC Markets account, take the time to compare the best brokers in Canada.

What types of accounts are available with IFC Markets in Canada?

IFC Markets offers multiple account types to cater to different trader profiles, from beginners to advanced users. The broker provides Micro and Standard accounts, with options for both fixed and floating spreads. Additionally, it supports Islamic accounts (swap-free) and offers a demo account for practice trading. Below is a comparison of the available account types.

Micro Account

The Micro Account is designed for beginners or traders who want to test strategies with smaller trade sizes. With a minimum deposit of just $1, it allows new traders to start with minimal risk. The account offers both fixed and floating spreads, making it flexible for different trading strategies. Leverage of up to 1:400 is available, which can help amplify profits but also increases risk.

Standard Account

The Standard Account is suitable for experienced traders who require larger trade sizes and more market exposure. A minimum deposit of $100 is required, and traders can choose between fixed or floating spreads. The account supports MetaTrader 4, MetaTrader 5, and NetTradeX, giving users access to advanced trading tools. It also offers the same range of assets as the Micro Account.

Islamic Account (Swap-Free)

The Islamic Account is a swap-free version of the Standard or Micro Account, designed for traders who follow Sharia-compliant investing. It operates without overnight interest fees (swaps), making it compliant with Islamic finance principles. Other trading conditions, such as spreads, leverage, and platform access, remain the same as the corresponding Micro or Standard account.

Demo Account

The Demo Account is available for traders who want to practice trading without financial risk. It provides access to virtual funds, allowing users to trade in real market conditions with simulated spreads. The demo account supports MetaTrader 4, MetaTrader 5, and NetTradeX and has unlimited usage, making it a great tool for beginners and strategy testing.

Deposits and withdrawals at IFC Markets: How does it work?

IFC Markets provides a solid range of deposit and withdrawal methods, covering traditional banking, e-wallets, and cryptocurrencies. Deposits are generally instant for most methods, except for bank transfers, which take a few business days. While deposits are mostly free, some withdrawal methods incur processing fees, which is common in the industry but may be a drawback for cost-conscious traders.

Compared to competitors that offer free withdrawals on most methods, IFC Markets' withdrawal fees on certain payment options may be less attractive. However, the broker compensates for this with fast processing times for e-wallets and crypto transactions, making it a convenient choice for traders who prioritize quick fund access.

While some brokers support local Canadian payment options like Interac, IFC Markets does not currently provide this, which may be a limitation for Canadian traders.

Does IFC Markets offer copy trading?

IFC Markets does not offer built-in copy trading or social trading features on its platforms. Unlike some brokers that provide direct access to copy trading networks such as ZuluTrade or Myfxbook AutoTrade, IFC Markets does not have an integrated service for automatically replicating trades from professional traders.

However, traders using MetaTrader 4 (MT4) or MetaTrader 5 (MT5) can manually integrate third-party copy trading solutions by connecting their accounts to external providers. This requires setting up an Expert Advisor (EA) or subscribing to a signal provider, but it is not as seamless as brokers that offer built-in social trading platforms.

Since IFC Markets does not natively support copy trading, there are no additional fees or commissions associated with it. Traders who prefer social or automated trading strategies may need to explore third-party platforms to enable this functionality. 

What is the tax treatment of income generated by IFC Markets?

The tax treatment of income generated by trading via IFC Markets in Canada depends on the type of income earned and whether the Canada Revenue Agency (CRA) classifies you as an investor or a trader.

Capital Gains vs. Business Income

• Capital Gains: If you trade occasionally and hold assets for a longer period, 50% of the profit is taxable, and it is reported as capital gains on your tax return.
• Business Income: If you trade frequently, use leverage, or operate similarly to a day trader, the CRA may classify your income as business income, meaning 100% of your profits are taxable.

Tax Treatment Based on Account Type

• Registered Accounts (TFSA, RRSP, RESP): Profits inside a TFSA are completely tax-free, while RRSP gains are tax-deferred until withdrawal.
• Non-Registered Accounts: All profits from trading forex, CFDs, or stocks in a non-registered account are subject to taxation, either as capital gains or business income.

How to declare your trading income

• Capital Gains: Reported on Schedule 3 of the T1 General Tax Return.
• Business Income: Declared as self-employment income on Form T2125 (Statement of Business or Professional Activities).
• Foreign Investments (if holdings exceed CAD $100,000): Requires filing Form T1135 (Foreign Income Verification Statement).

Tax Withholding and Foreign Trading Considerations

• IFC Markets is not a Canadian-regulated broker, so it does not withhold taxes on profits. Traders are responsible for self-reporting all earnings to the CRA.
• If you earn dividends or interest from foreign assets, they may be subject to foreign withholding taxes, which could be eligible for a foreign tax credit.

Points to remember on filing your taxes

• Use a TFSA for tax-free investing (CFDs and forex may not be eligible).
• Hold investments longer to benefit from capital gains taxation instead of business income treatment.
• Keep accurate trading records, including entry/exit prices, commissions, and exchange rates for forex trades.
• Consult a tax professional if trading frequently or dealing with complex tax situations.

Contact: How do I contact IFC Markets customer service?

FAQs

Nishadh Mohammed

Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.