INTFX Broker Review
INTFX is an online forex broker that offers internet trading services to their clients. If you are interested in registering with INTFX. Take some time to read our INTFX review before you register.
Review of the Trading Platform
The INTFX forex broker utilizes the highly popular mT4 platform for their trading services. This is no surprise as the mT4 platform is widely popular and offers tremendous value to traders no matter their experience.
However, we noticed that the MT4 platform download available on the INTFX website has a number of issues surrounding connectivity. It is easy to download but the installation stalls on several computers and when we do get it to install, it crashes quite often. They also offer a mobile version but a mobile platform is not enough to fully compensate for a desktop platform.
We hope INTFX fixes these issues among others.
INTFX Account Types
INFX currently offers three types of accounts:
- ECN Mini ($25 minimum deposit)
- ECN Classic ($100 (minimum deposit)
- ECN Premium ($1000 minimum deposit)
The base currencies for each account type are USD, GBP, and EUR. The spreads for the ECN Mini and ECN Classic are the same at 2.0 while spreads for ECN Premium are 0.1. The spread type for each account is a variable and the leverage for the ECN Mini and the ECN Classic are 1:500 while the leverage for the ECN Premium is 1:100.
ECN Mini and ECN Classic account types both use NDD and ECN order execution while the ECN Premium account type uses NDD, ECN, and STP order execution. There is no commission per million for the ECN Mini and ECN Classic accounts but the ECN Premium account has a commission per million of 40 USD on turnover.
All account types have access to the same number of trading instruments as well as the option of becoming an Islamic Swap-free account.
But that’s not all, they also share a number of other similarities which include mobile trading, access to EAs, 24/5 customer service and more. Except the ECN Mini does not have access to promotions unlike the ECN Classic and ECN Premium.
INTFX Bonus Offers
INTFX currently offers two bonus options:
- 100% Bonus with $3 Cash Rebate
- 30% Welcome Bonus
100% Bonus with $3 Cash Rebate
This bonus only applies to accounts with a minimum deposit of $500 and a maximum deposit of $50,000. IF you take part in this bonus, then you are not eligible for any other bonus promotion being offered by the INTFX broker. This bonus is only credit for trading and while it can be used to increase leverage, if your equity reaches or falls below the bonus then it will be removed from your account. Also, INTFX can withdraw the bonus at any time without any justification whatsoever. The promotional period will also run for 90 days after you’ve received the bonus.
This is how the rebate rewards system works:
1-199 lots = 2USD per lot
200 – 499 lots = 2.5USD per lot
Over 500 lots = 3USD per lot
For example, if you were to trade 400 lots, the rebate will be calculated as:
(199 lots x $2) + (201 lots x $2.5) = $900.50
The maximum which you can earn is 10,000 USD
The main problem we find with this is that INTFX can remove this bonus at any time it sees fit.
30% Welcome Bonus
This welcome bonus only applies to accounts with a maximum deposit of 10,000 USD. It like the 100% Bonus runs for 90 days and prevents you from taking part in any other bonus. INTFX can also remove this bonus from your account whenever they see fit and the funds are only credit, not cash. If you meet a certain trading requirement, you will receive a certain amount as a non-withdrawable deposit. How it works is that for every standard lot traded, 2 USD of the bonus funds will be sent to your account. This can only occur during the 90 days promotion timeframe.
INTFX Customer Support
INTFX customer support is among the poorest we have ever experienced before in our days of broker reviews.
They several different contact methods available:
- Online Form
Our biggest problem was with the livechat. No matter what time we tried to contact INTFX’s customer support agents via livechat, there was no one available. We left countless messages but until this day, we have not received any reply.
It does not get any better with their online form or email responses either. It seems INTFX opinion is that current or potential clients’ queries and issues do not warrant any form of reply whatsoever.
Their telephone line is also a dead end. There does not seem to be any available agents at any time of the day, any day of the week. It makes us seriously question the type of business INTFX is running and how their actual traders are being treated if any of them have stayed with INTFX that is.
Deposit and Withdrawal
INTFX offers a number of different ways to deposit and withdraw money:
- Perfect Money
- Wire Transfer
- Internal Transfer
INTFX Review Conclusion
INTFX may be regulated by CySec but their poor customer support and defective platforms is a serious deterrent. Given the nature of trading, we recommend you register with a broker you can rely on especially when that reliability is what you’ll need the most.