InfinitasFX is a forex and CFD broker, which also provides binary options. The company’s website is full of unclear information, especially on topics, such as the trading conditions. Even one of the account types is only partially mentioned.
The Company. Security of Funds
InfinitasFX is a trade brand of INFINITAS Securities Ltd, a company registered in Vanuatu. The firm is regulated by the Vanuatu Financial Services Commission (VFSC), which isn’t that impressive. We advice proceeding with caution when dealing with off-shore brokers, as the legal environment in which they operate is often not that demanding.
That being said, Vanuatu is probably the destination, offering the loosest regulatory conditions. In order to register a forex broker there, one must prove to have capital holdings of merely $2,000. This is a very small amount, especially compared to the €730,000, which CySEC requires.
The aforementioned Cyprus Securities and Exchange Commission (CySEC) regulates a lot of forex brokers, as the island attracts a lot of them. While Vanuatu-based companies can be very shady, the ones regulated in Cyprus follow strict rules. From a trader’s point of view two of them are the most important. First of all, client funds are kept in segregated accounts. This means a broker can not freely access your investment and “re-purpose” it. The second key ruling is the mandatory participation in the Investor Compensation Fund. This is a mechanism, which guarantees clients’ money against their broker going bankrupt. If you trade with a CySEC regulated firm, your account will be covered by this scheme up to £50,000.
Minimum Initial Deposit
There is no information on the minimum initial deposit at InfinitasFX, which isn’t that surprising, given the overall state of their website. At the same time, other brokers use the minimum deposit as a marketing tool. For instance, you can open a cent-account with FXTM, by depositing only $5.
Average spreads & Commissions
Spreads at InfinitasFX are floating. They claim to be targeting a level around 0.5 pips, which would be impressive. On the other hand, actual spreads average around 1.6 pips. This is slightly worse than the current industry standard. Did you know, you can check what some of the world’s leading forex brokers are offering, in real-time, at our spread-comparison page?
Although there are multiple account types at InfinitasFX, their specifications aren’t very clear. The average and target spread appear to be the same for all account types, but in reality conditions will probably vary.
InfinitasFX offers leverage up to 1:400 for the smaller account type. Although this is a very high level, it is nothing unusual, as many brokers offer 1:500 ore even more. At least the levels provided by InfinitasFX, go lower, with the more capital you have in your account.
Keep in mind higher leverage only allows you to take bigger risks. This may sound attractive, but we would advice proceeding with caution. Familiarize yourself with how much a pip’s wort of movement is actually worth with the size you intend to trade, before placing an order.
InfinitasFX provides its services via MetaTrader4 (MT4). This is the world’s most popular trading platform, at least when it comes to forex trading. It has great charting potential, with all the analytical tools you would ever need (and probably more). If there is a technical indicator, which isn’t available by default, it is probably already created and available at the MQL marketplace. This is a broker independent online store, where people buy, sell, test and rent custom made tools, such as technical indicators and automated trading systems.
The platform has a web-based version, which can be accessed form anywhere, as well as a mobile app. The latter is amazing, for a small-screen solution, as it is packed with most of the functionality of the desktop program. In fact we would go as far as to say, you should first fully familiarize yourself with the desktop version, before looking at the app. It is so complicated, it may confuse new users.
Sadly, we couldn’t open an account with InfinitasFX, in order to test their iteration of MT4.
Methods of Payment
InfinitasFX accepts several payment methods. They include: Bank Transfer, Credit/Debit Card, Neteller, Skrill and China UnionPay. This is a pretty decent line-up which covers popular e-wallets.
InfinitasFX Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about InfinitasFX Review.