Infinox Review 2023: Scam Or Legit? Read In-depth Analysis Report

Infinox Review Scam Or legit Read This In-depth Analysis Report

Infinox is a leading Forex and CFD trading platform, offering to trade in a whopping 900+ instruments. The broker has been operating since 2009 and so far has increased its presence in over 15 countries. But Is it the one you’re searching for? And How about its regulations? To find out, read the in-depth analysis report of this broker through our research-backed Infinox Review. 

Last week, we received so many requests to review the Infinox broker. So, to reaffirm our promise to get our readers the best, we quickly started researching this broker. Without skipping any aspects, we have made an analysis report based on Infinox’s services, regulations, fees, products, and user interface.

This factual Infinox review will surely help you determine whether the platform is worth your deposit if you’re seriously planning to start trading with it. 

What Is Infinox?

Infinox is a multi-asset and one of the oldest trading platforms in the world. The availability of advanced MT4 & MT5 platforms, higher leverage up to 1:1000 and a long list of tradable products all these features give a leading edge to this broker. 

The brokerage platform, along with other subsidiaries – INFINOX Limited, INFINOX Capital Ltd, INFINOX Capital Ltd SA, and INFINOX Limited (UK) – are owned and operated by IX Capital Group Limited, an SCB-registered company in the Bahamas. 

So far in its journey from 2009, the broker has won several industry awards for its excellence and customer-centric services, which majorly include 

  • Ultimate Fintech awards 2021 
  • Best Forex Broker for Long-Term Trading 2022
  • Best Forex Copy Trading Platform – Africa 2021 
  • Best Forex Copy trading platform – Middle East 2021 
  • Best Trading Account Margin Rates 2020 

Can Infinox Be Trusted Or Is It A Scam?

Infinox is a multi-regulated brokerage firm, making it one of the most trusted and safe forex brokers. Its parent group – IX Capital Group Limited itself, is regulated by the Securities Commission of The Bahamas (‘the SCB’) under Registration Number SIA F-188. 

Along with this, it also has distinct entities operating in several jurisdictions and being regulated by countries’ respective regulators. Here’s a list of the broker’s regulatory licenses: 

  • Mauritius – Financial Services Commission (FSC) under License Number GB20025832.
  • Bahamas – The Securities Commission of The Bahamas (‘the SCB’) under Registration Number SIA F-188. 
  • South Africa – Financial Services Conduct Authority under FSP No 50506.
  • United Kingdom – Financial Conduct Authority under Registration Number 501057.

Along with strict regulations, the broker is also a member of FSCS, which covers deposit insurance up to £85,000. Overall, the broker can be trusted. 

Available Trading Markets & Products Information

The product offering of the platform is considerable, as it claims to offer 900+ trading instruments across all major asset classes, including

Asset Classes Instruments
Forex 43+
Stocks CFD 8
Futures 7
Indices & Commodities – STP 30
Cryptocurrencies 43
Indices & Commodities – ECN 19

The number of available instruments and asset classes may vary depending on the jurisdiction. For instance, the UK’s entity limits the trading of stocks and cryptocurrencies. 

Infinox Account Types Reviewed

The broker primarily offers two types of Individual accounts, along with a joint and corporate account type. While much information regarding joint and corporate accounts is unavailable on the platform, let’s talk about its individual account types. 

The two available individual account types include ECN and STP. The features of both these platforms seem similar, with the exception of commission and spread charges. Let’s understand the features of each account type with the help of the below table. 

STP Account ECN Account
Account Currency  USD, GBP, EUR, AUD USD, GBP, EUR, AUD
Minimum deposit 0 0
Trading Platforms MetaTrader 4, MetaTrader 5 MetaTrader 4, MetaTrader 5
Commission 0 £5 or €5.5 or $7.5
Order Execution Speed Market Execution Market Execution
Spread From 0.9 From 0.2

Demo Trading Account

The demo trading account is a free-to-use account that lets you trade virtually in real market conditions. The best part is there is no risk of losing capital as all trades go in virtual funds only. 

How To Open An Account On Infinox?

Our overall experience of opening an account on the platform was positive. It took exactly 1 hour for account activation and two days for verification. Here’s a step-by-step registration process for opening a live trading account:

  • On the homepage, tap on the Sign-Up icon. On the Sign-Up page, choose the platform and the account type
  • Now, enter your basic details like country, name, email, password, mobile number, account currency, and leverage.
  • Enter a current residential address. After that, provide your employment and financial details.
  • Complete the questionnaire part on trading experience and submit it. Your account will be activated in 1 hour. 

Deposits & Withdrawals

In terms of deposits & withdrawals, the broker supports numerous payment methods. While deposits are free, there are charges for withdrawals, i.e., $15 or €7 after one free withdrawal every month. 

Details of payment methods are listed below:

  • Credit Card
  • Finrax
  • Mifinity
  • Neteller
  • Perfect Money
  • Skrill
  • SticPay
  • ZotaPay

How Do I Fund My Infinox Account?

With the availability of several payment methods, it becomes easy to fund your account. In case you’re still facing issues making initial deposits, follow these steps:

  • Login to your account and click on ‘Deposit.’
  • Enter the amount and select the payment method.
  • Confirm the information and click on the submit icon.

How To Withdraw Funds?

Withdrawing funds from your account is easy and quick. All you need to do is follow the instructions below:

  • Sign in to your account and choose ‘Withdraw Funds.’
  • Enter the amount and choose the withdrawal method.
  • Confirm the information and click on the submit icon.
  • Track the status of withdrawal through your Dashboard.

Infinox Fees, Spreads & Commissions

Based on our findings from the Infinox review, the fee structure of the platform is quite transparent and low in comparison to other ECN and STP brokers. 

Meanwhile, the commissions and spreads charges vary depending on the account type and trading instrument. 

Fee Type ECN  STP
Infinox Spread Charges Starts from 0.4 Pips Starts From 1.2 Pips
Commission  $7.5 per 100k Included in Spreads
Inactivity Fee
SWAP Charges Charge of $9.71 (Long); Credit of $4.28 (Short) Charge of $9.71 (Long); Credit of $4.28 (Short)

Maximum Leverage Offered

The leverage offering of the platform greatly depends on the country, account type and your chosen trading instrument. As a result, different Infinox entities offer varied leverage ratios, understand further through the table:

Markets Infinox Capital Ltd IX Capital Group Ltd INFINOX Lt INFINOX CAPITAL LIMITED SA (PTY) LTD
Major Currency Pairs 30:1 500:1 500:1 500:1
Non-Major Currency Pairs 20:1 200:1 500:1 500:1
Commodities 10:1 200:1 100:1 400:1
Gold 20:1 200:1 200:1 400:1
Stocks 5:1 25:1 5:1 20:1
Indices 5:1 20:1 100:1 200:1
Cryptocurrencies N/A 2:1 5:1 10:1

What Trading Platforms Does Infinox Offer?

The broker offers services through the most power-packed trading platforms – MetaTrader4 & MetaTrader5, which can easily be downloaded on both desktops and smartphones. Along with them, it offers several advanced indicators and technical analysis tools, making the trading experience even smoother. So, let’s find out all the features of trading platforms:

MetaTrader4 (MT4)

  • 9-time frames
  • 4 Pending orders
  • MQL4 Script
  • Hedging
  • 30 Indicators

MetaTrader5 (MT5)

  • 21-time frames
  • 6 Pending orders
  • MQL5 Script
  • Hedging & Netting
  • 38 Indicators
  • Market Depth
  • Economic Calendar

Infinox App

The mobile application is specially designed for traders’ convenience so they can trade and track their positions anywhere, anytime. The mobile app comes with the following features:

  • Compatible with both iOS and Android
  • Interactive and Touch Screen
  • One Click Trading
  • 21-time frames
  • 6 Pending orders
  • MQL5 Script
  • Hedging & Netting
  • 38 Indicators
  • Market Depth
  • Economic Calendar

IX Social 

The best feature we came across while writing Infinox review was its dedicated platform for social trading services. The platform allows beginner traders to mirror the trades of professional traders and earn considerable returns. 

Infinox Affiliate & Partner Programs

The platform extends partnerships through its lucrative programs like Introducing Brokers and Affiliate Programs. Let’s look at the benefits of the broker’s partner programs in brief:

Introducing Brokers (IB) Program

Just sign into your account with Infinox IB login and enjoy the below-mentioned benefits:

  • Bespoke Infinox Partner Portal
  • Live Client Tracking
  • Regular Rebate
  • Partnership Manager
  • Dedicated Tracking Links

Affiliate Program 

  • CPA up to 1200 USD
  • Low qualifying volume
  • Low FTD
  • Live Client Tracking
  • Regular Rebate
  • Partnership Manager
  • Dedicated Tracking Links

Availability Of Research & Educational Tools

The platform offers high-quality research tools for traders. However, the educational support extended by the broker is not-so-good as we supposed it to be. 

As research tools, it offers:

  • Charting tools
  • Remote VPS servers
  • Market analysis by experts
  • Trading signals with Autochartist
  • Economic calendar
  • Market Notifications
  • Rollovers

For educational purposes, the available tools include

  • Basic guides on trading
  • Guides on trading platforms

Customer Support Service 

The best part of the customer support services of the platform remains its availability in 6+ languages and dedicated phone support in over 17+ countries. 

However, the limitation of its customer service to just 6 days a week availability can be counted as its drawback. Here’s how you can connect with the support team:

  • Live Chat
  • Email: [email protected] 
  • Customer Care: 0-800-060-8744
  • Singapore Toll-Free: 800-492-2338
  • Egypt Toll-Free: 0800-000-0908
  • Portugal Toll-Free (Mobile Enabled): 800-180-842
  • United Arab Emirates Toll-Free: 8000-3203-88
  • Poland Toll-Free: 0-0-800-141-0332
  • Infinox Thailand Toll-Free: 1 800 012 244
  • Germany Toll-Free (Mobile Enabled): 0800-184-4823
  • Brazil Toll-Free (Mobile Enabled): 0-800-761-1622
  • Hong Kong Toll-Free: 800-906-577
  • Spain Toll-Free (Mobile Enabled): 900-984988
  • Vietnam – Ho Chi Minh: (+84) 028 9998 8669
  • Bahamas Toll-Free: 1-855-269-0574
  • Hungary Toll-Free (Mobile Enabled): 800-88-177
  • Italy Toll-Free (Mobile Enabled): 800-581-461
  • UK Toll-Free 800: 0-800-060-8744
  • Nigeria WhatsApp: 00234 7040 094902

Pros & Cons

Pros Cons
Trusted & hold multiple regulations Lack of educational support
Competitive trading conditions Sophisticated platforms, beginners may find it hard to navigate
Advanced technical & analytical tools
Quality customer support with live chat and dedicated phone support
Wide range of deposit & withdrawal methods

Final Words On Infinox Review

Concluding this Infinox review, we can term this broker to be fully fitted for both beginner & professional traders. It offers clients the ability to trade a wide variety of asset classes. Customer service was good, but its limitation to 24×6 is a point of concern. 

On the negative side, the educational support was not up to the mark and spread charges seemed higher than global standards. So, if choosing a low-cost broker is your top concern, consider choosing Capitalix. The broker offers the tightest spreads that start from 0.1 Pips and has interactive educational and research sections. 

FAQs

Is Infinox Good For Trading?

Yes, the broker is good for CFD trading on Forex, Commodities, Cryptocurrencies, Indices, and Stock. The platform is well-regulated and offers robust safety to users’ data and funds. 

How Do You Trade With Infinox?

The platform allows CFD and spot trading on 90+ tradable instruments across all global financial markets, including Forex, Commodities, Cryptocurrencies, Indices, and Stocks.

How Do I Link Infinox To MT4?

Follow the steps below to understand the process:

  • Sign up for a trading account on the platform.
  • Select your preferred CFD trading platform. In the case of MetaTrader, choose MT4.
  • Complete the account registration.
  • Click on the Infinox MT4 download.
  • Log in to MT4 and start trading through the broker’s servers.

Is Infinox Regulated?

The platform operates under IX Capital Group Limited, which is regulated by the Securities Commission of The Bahamas (‘the SCB’) under Registration Number SIA F-188. 

Is Infinox A Regulated Broker In Nigeria?

The broker is regulated by multiple regulators; however, it lacks regulatory approvals in Nigeria. But it doesn’t make it unregulated in the country. It legally operates in Nigeria. 

How Long Does It Take To Withdraw From Infinox?

While the majority of withdrawals are processed instantly, the longer expected time for withdrawals is anything between 3-5 business days. 

Who Is The Owner Of Infinox Broker?

The platform is owned by IX Capital Group Limited, an SCB-regulated company registered in the Bahamas.

What Is The Minimum Deposit For Infinox?

The minimum deposit for the platform is set at $1 or equivalent in your base currency. 

How Long Is Infinox Withdrawal?

The expected time for withdrawals is anything between 3-5 business days. 

Who Is The Best Regulated Forex Broker?

Capitalix is probably the best-regulated forex broker holding top-tier FSA regulations to operate in the European and Asian regions. 

What Is The Best Broker For Forex In Nigeria?

Infinox is the best forex broker in Nigeria because of its multi-regulatory approvals, wide range of product offerings, high leverage and prompt customer support. 

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Karla brings over 16+ years of experience in the online brokerage industry. She is a finance graduate from Birmingham University, UK, and a forex market enthusiast. Being a true writing fanatic, she pens research-backed reviews for traders to analyse trading strategies and indicators. She has also authored a wide range of educational articles covering the forex industry. Karla is quite interested in checking brokerage companies and studying their performance and growth. Her aim is to describe complex investment mechanisms in an accessible way for traders of any level. Apart from finance, her interests mainly include reading books, fitness, and writing in her journal. Karla believes in the power of writing and wants to write for every layman who knows nothing about finance.
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