General Information & Regulation
IV4X, a brand name of EdgeFX Limited, is allegedly an ECN broker registered in South Africa that claims to provide its clients with various tradable financial instruments with leverage capped at 1:500 and variable spreads from 0.1 pips on the leading MetaTrader5 trading platform, as well as a choice of three different live account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, IV4X says it is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, however, it has been verified that IV4X does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.12/10. Please be aware of the risk.
Market Instruments
IV4X advertises that it offers access to a wide range of trading instruments in financial markets, including forex, shares, indices and cryptocurrencies.
Account Types
IV4X claims to offer three types of trading accounts, namely Standard, 100% Bonus and Razor. The minimum initial deposit amount is only $25 for the Standard account, while the other two account types have much higher minimum initial capital requirements of $100 and $1,000 respectively.
Leverage
A leverage ratio of up to 1:500 is offered by IV4X, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
IV4X claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard and 100% Bonus accounts start from 1.8 pips, while only the Razor account holders can enjoy spreads from 0.1 pips.
Trading Platform Available
The platform available for trading at IV4X is said to be the worlds most widely-used MetaTrader5, compatible with desktop and mobile devices. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
IV4X says to offer a full list of deposit options such as EFT, Card, MPESA, Bitcoin and Perfect Money. The minimum initial deposit requirement is said to be only $25, while there is no mention of what the minimum withdrawal amount is. As for the processing time of deposit and withdrawal requests, deposits are instant while withdrawals usually take up to 8 hours.
Customer Support
Unluckily, we didn‘t find any useful information about IV4X’s customer support on the Internet. Generally, regulated brokers will reveal their telephone numbers, email or company address to let their clients get in touch with them.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
