Compare IFC Markets vs Orbex
What is IFC Markets? What is Orbex?
IFC Markets is an online broker that offers trading services in forex, CFDs, stocks, commodities, indices and cryptocurrencies. IFC Markets was founded in 2006 and is regulated by the British Virgin Islands Financial Services Commission (BVI FSC) and the Cyprus Securities and Exchange Commission (CySEC) .
Orbex is an online broker that offers trading services in forex, CFDs, metals, energies, indices and futures. Orbex was founded in 2010 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Mauritius Financial Services Commission (FSC) .
IFC Markets vs Orbex Regulation Comparison
Both brokers are regulated by CySEC, which means they have to comply with strict rules regarding client funds protection, fair trading practices, anti-money laundering and financial reporting. CySEC also offers a compensation scheme that covers up to €20,000 per client in case of broker insolvency . However, IFC Markets also holds a license from the BVI FSC, which is a less reputable regulator that does not offer much oversight or protection for traders. Orbex also holds a license from the Mauritius FSC, which is a more credible regulator that offers a compensation scheme of up to $20,000 per client in case of broker default .
IFC Markets vs Orbex Trading Assets Comparison
Both brokers offer a wide range of trading assets, including forex, CFDs, metals, energies, indices and futures. However, IFC Markets has a larger selection of CFDs, as it offers over 600 instruments, including stocks, commodities and cryptocurrencies. Orbex only offers 36 CFDs on stocks and indices .
IFC Markets vs Orbex Trading Fees Comparison
Both brokers charge variable spreads on their trading accounts, which depend on the market conditions and the account type. IFC Markets offers four account types: NetTradeX Beginner, NetTradeX Standard, MT4 Micro and MT4 Standard. Orbex offers three account types: Classic, Standard and Premium . According to the information on their websites, the average spreads for some of the major currency pairs are as follows:
| Currency Pair | IFC Markets | Orbex |
|---|---|---|
| EUR/USD | 1.8 pips | 1.5 pips |
| GBP/USD | 2.9 pips | 2 pips |
| USD/JPY | 2 pips | 1.6 pips |
| AUD/USD | 2.5 pips | 1.9 pips |
As you can see, Orbex generally offers lower spreads than IFC Markets on these pairs . However, both brokers also charge commissions on some of their account types. IFC Markets charges $15 per lot on its NetTradeX Beginner account and $6 per lot on its NetTradeX Standard account. Orbex charges $8 per lot on its Premium account . Therefore, you should also consider the commission fees when comparing the trading costs of these brokers.
IFC Markets vs Orbex Account Types Comparison
Both brokers offer different account types with different features and requirements. Here is a brief overview of each account type:
- NetTradeX Beginner (IFC Markets): This account is designed for beginners who want to trade with small volumes and low risk. The minimum deposit is $1 and the maximum leverage is 1:400. The account offers fixed spreads from 1.8 pips and charges a commission of $15 per lot .
- NetTradeX Standard (IFC Markets): This account is suitable for experienced traders who want to trade with larger volumes and higher risk. The minimum deposit is $1000 and the maximum leverage is 1:200. The account offers floating spreads from 0 pips and charges a commission of $6 per lot .
- MT4 Micro (IFC Markets): This account is similar to the NetTradeX Beginner account, but it uses the popular MetaTrader 4 platform instead of the proprietary NetTradeX platform. The minimum deposit is $1 and the maximum leverage is 1:400. The account offers fixed spreads from 1.8 pips and does not charge any commission .
- MT4 Standard (IFC Markets): This account is similar to the NetTradeX Standard account, but it uses the MetaTrader 4 platform instead of the NetTradeX platform. The minimum deposit is $1000 and the maximum leverage is 1:200. The account offers floating spreads from 0 pips and does not charge any commission .
- Classic (Orbex): This account is designed for beginners who want to trade with low risk and no commission. The minimum deposit is $200 and the maximum leverage is 1:500. The account offers fixed spreads from 1.5 pips and does not charge any commission .
- Standard (Orbex): This account is suitable for intermediate traders who want to trade with moderate risk and low commission. The minimum deposit is $500 and the maximum leverage is 1:300. The account offers variable spreads from 1.3 pips and does not charge any commission .
- Premium (Orbex): This account is ideal for advanced traders who want to trade with high risk and tight spreads. The minimum deposit is $5000 and the maximum leverage is 1:100. The account offers variable spreads from 0.8 pips and charges a commission of $8 per lot .
As you can see, both brokers offer a range of account types to suit different trading styles and preferences. However, Orbex has lower minimum deposit requirements and higher maximum leverage levels than IFC Markets on most of its accounts .
IFC Markets vs Orbex Deposit Options Comparison
| Method | IFC Markets | Orbex |
|---|---|---|
| Bank Wire Transfer | No fees for deposits; $20-$50 fee for withdrawals | No fees for deposits; $40 fee for withdrawals |
| Credit/Debit Cards | No fees for deposits; 2% fee for withdrawals | No fees for deposits; no fees for withdrawals |
| Skrill | No fees for deposits; 2% fee for withdrawals | No fees for deposits; no fees for withdrawals |
| Neteller | No fees for deposits; 2% fee for withdrawals | No fees for deposits; no fees for withdrawals |
| WebMoney | No fees for deposits; 0.8% fee for withdrawals | No fees for deposits; no fees for withdrawals |
IFC Markets vs Orbex Trading Platforms Comparison
Both brokers offer two main trading platforms: MetaTrader 4 (MT4) and their own proprietary platforms. MT4 is a widely used platform that offers advanced charting tools, technical indicators, automated trading systems, market news and more. Both brokers also offer mobile versions of MT4 for iOS and Android devices .
However, each broker also has its own unique platform that offers some additional features and benefits. IFC Markets has NetTradeX, which is a multi-functional platform that allows traders to create their own synthetic instruments, trade with fractional lots, access advanced order types, use multiple charts and more . Orbex has Orbex TradeLab, which is a social trading platform that allows traders to follow and copy the trades of other successful traders, share their own trading ideas, access market signals, interact with other traders and more .
IFC Markets vs Orbex Analytical Tools Comparison
Both brokers provide various analytical tools and resources to help their clients make informed trading decisions, such as market analysis, economic calendar, trading signals, webinars, ebooks, videos and more .
However, each broker also has some unique tools that may appeal to different types of traders. IFC Markets has Portfolio Quoting Method (PQM), which is a method that allows traders to create their own synthetic instruments by combining different assets in a portfolio and analyzing their performance .Orbex has Orbex Strategizer, which is a tool that allows traders to create their own automated trading strategies without any coding skills by using a simple drag-and-drop interface. Traders can also backtest and optimize their strategies, as well as monitor their performance in real time .
IFC Markets vs Orbex. Which forex broker is better? Which forex broker should you choose?
The best forex broker for you depends on your personal preferences, trading goals, risk appetite, budget and level of experience. There is no one-size-fits-all solution when it comes to choosing a forex broker. However, you can consider some general suggestions that can help you narrow down your options. Here are some factors you can consider when choosing between IFC Markets and Orbex:
- Regulation: Both brokers are regulated by CySEC, which is a reputable regulator that offers some protection and security for traders. However, Orbex also holds a license from the Mauritius FSC, which is a more credible regulator than the BVI FSC that IFC Markets holds. Therefore, Orbex may have an edge over IFC Markets in terms of regulation.
- Trading Assets: Both brokers offer a wide range of trading assets, including forex, CFDs, metals, energies, indices and futures. However, IFC Markets has a larger selection of CFDs, as it offers over 600 instruments, including stocks, commodities and cryptocurrencies. Therefore, IFC Markets may have an edge over Orbex in terms of trading assets.
- Trading Fees: Both brokers charge variable spreads on their trading accounts, which depend on the market conditions and the account type. However, Orbex generally offers lower spreads than IFC Markets on most of the major currency pairs. Therefore, Orbex may have an edge over IFC Markets in terms of trading fees.
- Account Types: Both brokers offer different account types with different features and requirements. However, Orbex has lower minimum deposit requirements and higher maximum leverage levels than IFC Markets on most of its accounts. Therefore, Orbex may have an edge over IFC Markets in terms of account types.
- Deposit and Withdrawal Options: Both brokers offer various methods for depositing and withdrawing funds from their trading accounts, such as bank wire transfer, credit/debit cards, e-wallets and local payment methods. However, Orbex does not charge any fees for credit/debit card withdrawals, while IFC Markets does. Therefore, Orbex may have an edge over IFC Markets in terms of deposit and withdrawal options.
- Trading Platforms: Both brokers offer two main trading platforms: MetaTrader 4 (MT4) and their own proprietary platforms. MT4 is a widely used platform that offers advanced charting tools, technical indicators, automated trading systems, market news and more. However, each broker also has its own unique platform that offers some additional features and benefits. IFC Markets has NetTradeX, which is a multi-functional platform that allows traders to create their own synthetic instruments, trade with fractional lots, access advanced order types, use multiple charts and more. Orbex has Orbex TradeLab, which is a social trading platform that allows traders to follow and copy the trades of other successful traders, share their own trading ideas, access market signals, interact with other traders and more. Therefore, both brokers have their own advantages and disadvantages in terms of trading platforms.
- Analytical Tools: Both brokers provide various analytical tools and resources to help their clients make informed trading decisions, such as market analysis, economic calendar, trading signals, webinars, ebooks, videos and more. However, each broker also has some unique tools that may appeal to different types of traders. IFC Markets has Portfolio Quoting Method (PQM), which is a method that allows traders to create their own synthetic instruments by combining different assets in a portfolio and analyzing their performance.
