INFINOX Review – Unbiased Look at Pros, Cons and Fees

Are you a seasoned trader seeking tight spreads? Or perhaps a beginner looking for a user-friendly platform to navigate the forex market? This Infinox review dives deep into the features, offerings, and overall experience of trading with Infinox. We’ll uncover its strengths and weaknesses to help you decide if it’s the right forex broker for you also unveil potential drawbacks like limited crypto options and wider spreads during market storms. Infinox offers ECN and STP execution, but its crypto selection might leave you wanting more. We crack open this forex broker to see if it offers the tools you need to conquer the market, or if you’ll be left swimming with the cryptocurrencies it doesn’t offer.

Review Transparency

Regulation & Safety

INFINOX a well-established player that has been operating since 2009 in the forex brokerage scene. INFINOX operates under the regulations of several Tier-1 financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Financial Services Commission (FSC) in British Virgin Islands.

Tier-1 regulations are considered the most stringent, offering Day traders & investors a higher level of protection. Additionally, some INFINOX entities offer client investor protection schemes, further safeguarding client funds.

Negative Balance Protection

Negative balance protection is a feature offered by some brokers that limits potential losses to the amount of funds deposited in your account. While not a guaranteed feature across all INFINOX entities, it’s worth checking with your specific account provider to see if negative balance protection applies.

My Overall Take: Negative balance protection can provide peace of mind, especially for beginner traders. However, it shouldn’t be seen as a substitute for proper risk management practices.

Trading Platforms

INFINOX provides traders with access to two popular trading platforms:

• MetaTrader 4 (MT4): A widely used and well-established platform known for its user-friendly interface, extensive customization options, and automated trading capabilities (Expert Advisors or EAs).
• IX Social: INFINOX’s proprietary platform specifically designed for social and copy trading. It allows users to follow and copy the trades of experienced traders, potentially simplifying the trading process for beginners.

My Experience: I found MT4 to be a reliable and versatile platform, offering a wide range of technical indicators, charting tools, and automated trading functionality. For those new to forex trading, IX Social’s user-friendly interface and copy trading features could be a valuable resource.

Account Types

INFINOX offers a variety of account types to cater to different trading styles and experience levels. Here’s a breakdown of the key options:

• Standard Account: This basic account type is suitable for beginners, offering commission-free trading with slightly wider spreads.
• ECN Account: Ideal for experienced traders who prioritize tight spreads and direct market access. ECN accounts come with a commission fee per trade.
• STP Account: This account bridges the gap between Standard and ECN, providing a good balance between spreads and commission costs.

My Experience: Choosing the right account type depends on your trading goals. I found the STP account to be a good middle ground, offering competitive spreads without significant commission charges. Average EUR/USD spread of 1.2 pips on the STP account, which is competitive compared to other brokers in the category

Tradable Instruments

INFINOX provides access to a wide range of tradable assets, including:

• Forex: Major, minor, and exotic currency pairs
• Commodities: Gold, oil, natural gas, and other commodities
• Indices: Leading stock market indices like the S&P 500 and FTSE 100
• Stocks: Shares of individual companies from various global exchanges
• Cryptocurrencies: A limited selection of popular cryptocurrencies (availability may vary depending on regulations)

My Opinion: The variety of assets offered by INFINOX allows traders to diversify their portfolios and capitalize on various market opportunities. I particularly appreciated the availability of popular stock indices and a limited selection of cryptocurrencies.

Fees and Pricing

Transaction costs are a crucial factor to consider when choosing a forex broker. Here’s a breakdown of INFINOX’s fee structure:

• Spreads: Spreads can vary depending on the account type, market conditions, and the specific asset being traded. (See Spreads Section for detailed comparison)
• Commissions: Applicable on ECN and STP accounts, charged per trade.
• Swap Rates: (See Swap Section for details)
• Inactivity Fees: May apply to accounts that haven’t been used for an extended period.

INFINOX charges a commission fee per trade, with the exact amount varying depending on the account type and the traded instrument. Here’s a general breakdown:

• ECN Account: Expect to pay a commission fee in the range of $7.5 per 100,000 units of base currency (standard lot).
• STP Account: Commission fees on STP accounts are typically lower than ECN accounts, often around $5 per 100,000 units of base currency.

My Opinion: Infinox’s commission structure is fairly standard. However, high-volume traders who generate a significant number of trades might find lower commission fees offered by other brokers more appealing.

Spreads: A Closer Look

Spreads are a significant cost for forex traders. Here’s a comparison of INFINOX’s spreads for major forex pairs across different account types:

My Analysis: As expected, ECN accounts offer the tightest spreads, while Standard accounts have wider spreads. The STP account provides a good balance for traders who prioritize a mix of competitive spreads and lower commission fees.

Remember: Spread figures can change frequently.

Swap Rates

INFINOX offers swap-free accounts on certain instruments, catering to traders who prefer not to incur overnight financing costs.

My Experience: I found INFINOX’s swap rates to be generally competitive with other brokers. The availability of swap-free accounts is a positive aspect for traders who employ short-term trading strategies.

Leverage & Margin

Leverage allows traders to control a larger position size than their account balance. While it can amplify profits, it also magnifies losses. INFINOX offers varying leverage limits depending on the instrument being traded. For major forex pairs, leverage can be as high as 1:30, while for certain stocks or indices, it might be lower.

Order Execution Model

INFINOX operates as a hybrid model, offering both ECN (Electronic Communication Network) and STP (Straight Through Processing) execution for different account types.

My Opinion: The ECN and STP execution models offered by INFINOX provide greater transparency and potentially tighter spreads compared to a market maker or dealing desk model. This can be advantageous for experienced traders who value direct market access.

Slippage & Requotes

Slippage occurs when the execution price of a trade differs from the requested price. This can happen due to high market volatility or low liquidity. INFINOX strives to minimize slippage; however, it’s an inherent risk of trading in fast-moving markets.

Requotes, where the broker asks for confirmation on a trade due to sudden price movements, can also occur.

My Experience: During my trading experience with INFINOX, I encountered occasional slippage, particularly during major news events that caused market volatility. However, requotes were infrequent.

Margin call & stop out level

A stop-out level is the point at which your broker automatically closes your position to prevent your account equity from falling below a certain threshold (margin level). Margin calls occur before the stop-out level is reached, alerting you to add more funds to your account or close positions to maintain the required margin.

My Suggestion: Having clear stop-out and margin call levels helps traders manage risk and avoid potential account liquidation. It’s important to familiarize yourself with INFINOX’s margin requirements for different instruments before initiating trades.

Copy Trading with INFINOX

As mentioned earlier, INFINOX offers IX Social, a platform specifically designed for social and copy trading. This can be particularly appealing to beginner traders who are still developing their own trading strategies. Here’s a closer look:

• How it Works: IX Social allows users to follow and copy the trades of experienced traders (signal providers). You can choose signal providers based on various factors like their performance history and risk tolerance.
• Benefits: Copy trading can potentially simplify the trading process and allow beginners to benefit from the strategies of experienced traders.
• Drawbacks: Past performance is not necessarily indicative of future results. There’s always a risk that the signal provider’s strategy may not perform well in the future. It’s crucial to carefully evaluate signal providers before copying their trades.

My Take on Copy Trading: Copy trading can be a useful tool, but it shouldn’t be a substitute for developing your own understanding of the forex market. Always conduct your own research and maintain control over your trading activity.

Bonus Offers

INFINOX may occasionally offer bonus promotions or discounts to attract new clients. While these bonuses can be enticing, it’s important to focus on the core features and services offered by the broker, not just the bonus itself.

Here’s why:

• Bonus Terms & Conditions: Bonuses often come with terms and conditions, such as minimum trading volume requirements. Make sure you understand the conditions before claiming a bonus.
• Focus on Value: Don’t let a bonus overshadow the importance of factors like platform functionality, spreads, and customer support.

Rebates & Cashback

Some brokers offer rebates or cashback programs that reward traders for their activity. While INFINOX doesn’t currently have a formal cashback program, they may offer occasional promotions or discounts.

My Suggestion: While rebates and cashback can be a nice perk, it shouldn’t be the primary factor when choosing a forex broker. Focus on factors like trading costs, platform functionality, and customer service.

Deposit & Withdrawal

INFINOX offers a variety of deposit and withdrawal methods, including:

• Credit/debit cards: A convenient option for quick deposits, but some banks may charge fees for international transactions.
• Bank wire transfers: Generally slower than credit cards but may have lower fees for larger transfers.
• E-wallets: Popular e-wallets like Skrill and Neteller are often accepted, offering fast and convenient transactions.

Minimum Deposit: The minimum deposit amount can vary depending on the account type and your region. However, it’s generally quite affordable, making INFINOX accessible to a broad range of traders.

My Experience: Deposits were processed quickly and efficiently in my experience. Withdrawal times can vary depending on the chosen method, but they typically fell within the industry standard. It’s always a good idea to check INFINOX’s website or contact customer support for the latest information on processing times and any associated fees.

Customer Support

A reliable and responsive customer support team is crucial for any forex broker. INFINOX offers 24/5 multilingual customer support via live chat, email, and phone.

My Experience: While I didn’t require extensive customer support during my trading experience, the few times I did contact them, the response was prompt and professional.

Educational Resources

INFINOX provides a variety of educational resources to help traders of all experience levels improve their knowledge and skills. These resources include:

• Webinars: Live and recorded webinars covering various forex trading topics.
• Trading guides: In-depth guides on forex trading basics, technical analysis, and fundamental analysis.
• Glossary: Definitions of key forex trading terms.

My Opinion: The availability of educational resources demonstrates INFINOX’s commitment to trader education. These resources can be a valuable tool for beginners or those looking to expand their forex trading knowledge.

Market Analysis

INFINOX offers market analysis tools and research reports from third-party providers. These resources can help traders stay up-to-date on market trends and make informed trading decisions.

My Suggestion: While external market analysis can be helpful, it shouldn’t be the sole basis for your trading decisions. Always conduct your own research and develop your own trading strategies.

Infinox Vs Top Alternatives

Evaluation 

Cons of INFINOX

While INFINOX offers a compelling platform for forex traders, there are a few areas for improvement:

• Limited Cryptocurrency Selection: The selection of tradable cryptocurrencies is currently limited compared to some other brokers.
• No Loyalty Programs: There are currently no formal rebate or cashback programs offered.
• Limited Educational Resources: While educational resources are available, the depth and breadth of content could be expanded.
• Potential for Wider Spreads During Volatility: Spreads can widen during periods of high market volatility, impacting trading costs.
• Customer Support Hours: 24/5 customer support, while adequate, might not be ideal for traders in certain time zones.

Pros of INFINOX

Despite the aforementioned drawbacks, INFINOX offers several advantages for forex traders:

• Regulated Broker: Operates under the regulations of Tier-1 financial authorities, ensuring security and trust.
• Variety of Account Types: Caters to different trading styles and experience levels.
• ECN & STP Execution: Offers greater transparency and potentially tighter spreads.
• MT4 & IX Social Platforms: Provides both a popular industry-standard platform and a user-friendly platform for social trading.
• Competitive Fees: Generally competitive spreads and commissions, with the option of swap-free accounts.
• Educational Resources: Offers educational materials to help traders improve their skills.

Who Should Choose Infinox?

Infinox is a suitable choice for:

• Beginner Traders: User-friendly platforms and educational resources can be helpful for newcomers.
• Social Traders: IX Social simplifies copy trading.
• Traders Who Value Regulation: Operates under Tier-1 financial authorities.
• Traders Who Need Variety: Offers various account types and a good selection of tradable assets (except for limited cryptocurrencies).

Who Might Consider Other Brokers?

While Infinox offers a well-rounded platform, some traders might find better options elsewhere:

• High-Volume Traders: May benefit from brokers with lower commission structures.
• Cryptocurrency Enthusiasts: Limited selection of cryptocurrencies compared to some competitors.
• Advanced Traders: Might prefer platforms with a wider range of advanced order types or trading tools.
• 24/7 Customer Support Needed: Infinox’s customer service is not available 24/7.

The Final Verdict

In my experience, Infinox is a decent forex broker with a good selection of features, but it’s not perfect. While the ECN and STP execution models, popular platforms, and educational resources are all pluses, the limited crypto selection and wider spreads during volatile times could be dealbreakers for some traders. Ultimately, whether or not Infinox is a good fit for you depends on your individual trading needs and preferences.