Infinox

Infinox is an online forex and CFD broker that operates on the values of integrity, ambition, inspiration and excellence. It began operations since 2009 and for over a decade, it has improved in size, services and trading resources. Infinox asserts that it is an ECN and STP broker, so, its pricing is sourced from the best liquidity providers. Clients are offered competitive spreads and swift trade executions. Over the years, Infinox has won several awards for its outstanding performance in several areas of operation.

Infinox Security and Regulation

Infinox is regulated in the following jurisdictions:

• Infinox Ltd (UK) is authorized and regulated by the Financial Conduct Authority (FCA).
• INFINOX Capital Ltd SA is authorized and regulated by the Financial Services Conduct Authority (FSCA)
• INFINOX Capital is the trading name of ‘IX Capital Group The Limited’; a company that is authorised and regulated by the Securities Commission of Bahamas (SCB)
• INFINOX Limited is authorised and regulated as an Investment Dealer by the Financial Services Commission (FSC) of Mauritius.

All clients’ funds are held in segregated bank accounts maintained with the top rated banks. This means that Infinox does not use clients’ funds to run its own operations.

Clients from UK regulated region are protected by the Financial Services Compensation Scheme (FSCS). This scheme will pay clients up to £85,000 if Infinox goes bankrupt in the future.

Furthermore, Infinox has bought an insurance policy covering all its clients in case the broker goes bankrupt. The insurance policy was bought from Lloyd’s of London and traders are insured up to $500,000 per client.

Trading Instruments

Infinox offers the following trading instruments:

• 49 forex pairs
• 14  indices
• 20 commodities
• Stocks CFDs from several countries
• Futures CFDs
• 5 cryptocurrencies

Opening an account

You can harness the power of Infinox in 3 steps; register, fund and trade. The first step is to click ‘sign up’ from any webpage on the Infinox website, a registration form displays.

Choose an account type and enter your name, email, phone number, account currency, etc and click ‘next’. Enter your date of birth, address and personal details; click next. Answer questions about your profession, trading knowledge, capital and source of funds. Accept terms and conditions and submit the form. You will be logged into the Infinox’s client area where you can upload verification documents, make deposits and start trading.

Fees and account types

Infinox account types are broadly grouped into individual, joint and corporate accounts. Clients can either trade on the MT4 or MT5 trading platforms. The maximum leverage is 1:500 and the minimum account balance is $1. The accounts are further classified as Straight-through processing (STP) and Electronic communications Network (ECN); depending on the execution model.

Below are the types of individual accounts available

• MT4 STP account: spreads for the benchmark EURUSD starts from 1.1 pips.
• MT5 STP account: EURUSD spread starts from 0.8 pips.
• MT4 ECN account: EURUSD spread starts from 0.2 pips.
• MT5 ECN account: EURUSD spread starts from 0.3 pips.

For the STP accounts, no commissions are charged because the brokerage fees are incorporated into the spreads. ECN spreads start from 0.2 pips but commission of $7.5/€5/£5 is charged on Forex trades.

Islamic account

Swap free Sharia compliant accounts are available. First, create a normal account and then request its conversion to Islamic account in the clients’ area. These accounts do not incur swap fees when you leave a position open throughout the night.

Demo accounts

Practice accounts can be opened on any of the account types. You can complete a simple form on the website to open a demo account. The accounts are preloaded with funds for practice purposes. Alternatively, you can open a demo account via telegram or Facebook messenger.

Infinox Trading platforms

Infinox offers its clients access to trade CFDs on the MetaTrader platforms; MT4 and MT5. Both platforms were developed by ‘Meta Quotes Software Corporation’ which is a fintech software firm with head office in Cyprus. MT4 was released in 2005 while the MT5 followed in 2010. MT5 was supposed to replace the MT4 but because both software’s are not compatible, you can run both of them simultaneously on a system. Also, numerous plugin apps and trading robots known as Expert advisors (EAs) that have been running on the MT4 cannot run on MT5.

In terms of performance, both platforms are great though the MT5 is more powerful and have more features, MT4 has remained the most popular. Both platforms look exactly the same in terms of software interface, flexibility and scalability. Both of them support the automation of strategies, expansion of inbuilt features using plugin apps, chart analysis, one-click trading, etc. Economic calendar is exclusive to the MT5. MT4 has 4 pending orders while MT5 have 6, MT4 charts can be viewed on 9 time frames while MT5 is 21 time frames. MT4 comes with 30 technical indicators while MT5 comes with 38; but more indicators can be added on both platforms via plugin apps.

Infinox clients can trade on the MetaTrader platforms via:

• MT4 WebTrader
• MT4 windows desktop application
• MT4 for Mac desktop application
• MT5 windows desktop application
• MT4 android app
• MT5 android app
• MT4 iOS app
• MT5 iOS app

Deposits and Withdrawals

Infinox does not accept third party deposits; all funds must emanate from an account belonging to the trader. Accounts can be maintained in any of the following currencies: USD, EUR, AUD and GBP. Withdrawal requests are processed within a day and it is sent back to the source; meaning that the method used for funding the account will also be used for withdrawals. The payment method available to you depends on your country of residence; first select your country from the drop-down arrow to display the options available.  

Below are the popular payment methods acceptable:

Bank transfer

Clients can transfer funds from their own personal bank account to Infinox trading accounts. The process takes 2-7 days to complete.

Credit/Debit cards

You can use the major cards such as Visa, Maestro and MasterCard to fund your trading account. Deposits are processed instantly.

ePayments

AstroPay cards, Skrill, Neteller, Perfect Money, MiFinity, SticPay and ZotaPay are the available ePayment options. Online payments are also available in different countries; e.g. Online Naira for Nigerians, Swiffy Pay for South Africans. These payment methods are processed immediately or at most 24 hours.

Cryptocurrencies

Infinox clients can deposit and withdraw in more than 20 crypto coins including: Bitcoin, Ethereum, Bitcoin cash, DASH, etc. It is powered by Finrax; the crypto payment gateway. Generally, deposits take 5-15 minutes depending on the crypto coin and the amount. Withdrawals are processed within 24 hours and the coin is deposited back into your wallet.

Research and tools

IX Social trading

IX Social is a platform and community where traders interact, compete and copy the trades of other expert traders. New traders and investors can access the ‘Leader board’; which lists the expert traders and their performances. They can see the traders with most followers, most profits, most trades, etc. From there, they can choose a trader whose trades to copy automatically via the inbuilt ‘Auto-copy’ function. If you consider yourself an expert trader, you can choose to broadcast your strategies, gain some followers or copiers and earn commissions.

To gain access, download and install ‘IX Social’ mobile app on android and iOS from the respective app stores.

MAMM and PAMM

Money managers are offered a MAMM/PAMM solution that enables them to trade and manage accounts on behalf of other clients. From the software, managers can on-board new accounts, allocate trades, manage risks, open and close positions on multiple accounts with just one click.

Autochartist

This is a leading software that scans the charts, recognizes patterns and trading opportunities and then alerts the trader to place his trades. The software can be customized to suit the trader’s style and preferences. It is available as MT4 and MT5 plugin apps as well as on the web.

Virtual Private Server (VPS)

Traders who use auto-copy or EAs often require VPS to ensure fast, steady or reliable connection to Infinox’s servers. To assist its traders, Infinox has partnered with 4XSolutions to provide affordable and reliable VPS directly connected to its trading servers.

Platform tools

Apart from the analytical tools that come with the MetaTrader platforms, they also come with other features, tools and access to the MQL community. Directly from the platform or MetaQuotes websites, you can access trading signals, buy indicators, EAs, or tools from the market and also participate in the forum.  

Customer support

Infinox has a multilingual client support desk that is always ready to attend to the clients’ problems or questions. On the support Webpage, you can fill out the form and they will respond within 24 hours. Alternatively, you can send an email to support@infinox.com. If you prefer speaking, there are toll free numbers for clients from 15 countries such as UK, Egypt, Thailand, Brazil, Germany, Hong Kong, Spain, Vietnam, Bahamas, etc. You can also chat with a representative via web chat.

Conclusion

Infinox is a regulated and experienced broker that has been operating for over 10 years. It has gained global recognition with presence in over 15 counties and a global clientele. In compliance with the regulatory provisions, the broker segregates clients’ funds, verifies every client using KYC procedures and does not accept third-party payments. Additional insurance has been purchased and it covers clients’ funds up to $500,000.

The MetaTrader platforms are available for all clients’ trades. There are no restrictions of strategies and no account restrictions. In fact, only $1 is required to open trading accounts. Traders are supported with multiple tools such as Autochartist, VPS, etc. Investors and expert traders can take advantage of the IX social trading platform and app as well as MAM and PAMM accounts.  

But, in comparison with the top-rated brokers, Infinox has a limited range of trading instruments. Also, there are no in-house team of analysts that provides up to date market news and in-depth analysis. Infinox does not have a comprehensive trading academy with structured courses to train a newbie up to a reasonable level.

In summary, though a regulated and multiple awards winning broker, Infinox still have some areas to improve its brand but it is a genuine and reliable Forex/CFD broker.