Pros & cons of Infinox

Infinox Fact sheet

Safety is the number one issue with today's emerging information technologies. Check for broker’s licenses and regulations before even considering trading with them is a must. 

Infinox is regulated by four different regulatory bodies FSC, SCB, FSCA, and FCA which adds to its security. From all the information researched, Infinox seems a legitimate and highly regulated broker. 

Policies of Infinox broker

For traders, it is crucial that their broker saves their funds in segregated accounts. So that brokers can not use clients’ money for the running of their businesses. Infinox saves clients’ money on segregated accounts. This is a very important requirement for a broker to be evaluated as trustworthy.

One more important thing is not to lose more than your account balance. This can happen when trading with high leverage. Especially when trading CFDs with high leverage. Infinox offers up to 1:1000 leverage, which means clients' funds have 1000 times the buying power and a $100 account can open a position of almost $100 000. This accelerates profits and losses greatly, and it’s easy to lose more than the account balance. Negative balance protection prevents that. Infinox has negative balance protection in place to protect its traders and is also a part of an investor compensation fund while always offering all security and protective measures required by regulators.

Infinox offers more than 866 instruments for trading, including Forex and CFDs for various assets. This is a good number and ensures that traders can find their favorite trading instruments easily. 

There are more than 800 CFDs available. CFDs or contracts for difference are derivatives that represent the underlying asset. CFDs offer the ability for traders to trade underlying instruments without owning them, making potential profits in both downside and upside market movements. This makes CFDs suitable for speculative actions and is great when used wisely. Since more than 75% of CFD traders lose their money, it is important to exercise caution when using them in trading, especially with up to 1:1000 leverage and high margin requirements, CFDs can drain user funds as quickly as they can make profits. 

Forex trading on Infinox

There are a total of 43 currency pairs available at Infinox for trading which is a good amount. Forex is probably the most popular and well-known trading market and it is also very old with trillions of dollars traded every 24 hours. 

The leverage offered is a staggering 1:1000 with spreads starting from 0.2 pips for STP accounts. That being said, there is a catch, the required margin and margin call on this leverage are very deceptive and traders should be careful not to open high-volume trades with just a 100 dollars account. At Infinox, a margin call takes place at 80% of the margin required. So, make sure that you have more than 80% of the required margin before deciding to open a trade with high volumes compared to your account size. This little aspect can dramatically change the outcome of the trading experience as there is the risk of losing money even with profitable trading strategies.

Cryptocurrencies trading on Infinox

Cryptocurrencies are becoming increasingly popular trading and investment assets. Due to its underlying blockchain technology, they offer unique financial abilities when compared to traditional financial systems. Because of their relatively young age, crypto prices sometimes act in an extremely volatile way. For example, you could see prices swinging by thousands of dollars within minutes for Bitcoin. This attracts traders who want to catch these moves. Infinox offers a total of 43 cryptocurrencies for trading. But, cryptos also have one downside, as each transaction needs to be approved by the blockchain network which can take up to hours for BTC. This is where CFDs come to traders’ aid. Crypto CFDs will offer traders the ability to instantly short-sell or buy the desired crypto without missing important price movements. Leverage is 1:33 to 99% of cryptos, the only exception being the XET/USD pair with 1:200 leverage. This leverage size is very safe and moderate to trade cryptos without fear of wiping out the account balance in just one move.

CFDs trading on Infinox

As mentioned above, CFDs offer great value for speculative trading and even enable traders to instantly buy and sell cryptos without owning the actual underlying asset. While CFDs are great instruments for short-term and medium-term trading, they are riskier. Traders should trade CFDs with a high level of caution and control the margin and account balance all the time. 

Infinox offers CFDs in cryptos, futures, and equities. 

There are numerous equities CFDs available, including exchanges like the NASDAQ, blue chips, etc. All these offer traders flexibility to quickly select and trade specified assets. 

Depending on the initial capital and trading style each trader needs different things from their broker, and the ability to choose from different account types is very important. Infinox offers multiple account types for individual and corporate accounts, and joint accounts as well. There are ECN and STP account types available for Infinox traders.

Pros and cons of Infinox account types

Infinox Demo Account

As with many other brokers, Infinox also provides a free Demo account. Demo accounts are very useful when testing new trading strategies and for beginners as well. It is impossible to not start live trading without first learning basic trading skills on a Demo account. The Demo account is similar to a live account with one key difference; the funds are virtual or fake on a Demo account, so trading is possible without losing actual funds. In all other aspects, live and Demo accounts are almost identical. 

It takes a few clicks to set up a Demo account on Infinox and then download the MetaTrader platform and start trading. After this step, it is possible to test your strategies and even Expert Advisors or EAs which are automated trading robots. MetaTrader 4 (MT4) and 5 (MT5) have similar features and functionality, but MT4 is more focused on FX trading. 

Infinox STP account

STP or Straight Through Processing refers to technology where trades are routed from broker to exchanges that provide liquidity for the broker and its clients. STP requires no dealing desk, as all trades are routed to liquidity providers and orders are filled at the best possible price. Because of these, spreads are usually relatively high for STP accounts as opposed to ECN accounts. 

The main features of the Infinox STP account include:

• Spreads - from 0.9 pips
• Commission - 0
• Platforms - MT4, MT5
• Leverage Up to - 1:1000
• Min Trade Size - 0.0 lots

Infinox ECN account

ECN technology refers to the Electronic Communication Network and is used mainly by pros who want to get more favorable trading terms. With an ECN account, buyers and sellers can trade directly with each other without middlemen like liquidity providers in STP’s case. 

Infinox offers ECN accounts with lower spreads than STP but with higher commissions. The main ECN account features and terms are:

• Spreads - 0.2
• Commissions - £5/€5.5/7 USD
• Platforms - MT4, MT5
• Leverage up to - 1:1000
• Min trade size - 0.01 lots

Additional account types offered by Infinox

The other account types except ECN and STP are joint account and corporate accounts. Joint accounts are accounts that can be accessed by more than one individual. With a Joint account, partners can trade on a single account. Corporate accounts may be operated by legal entities for hedging and other benefits.

Getting started on Infinox - the main steps

It is important to easily register, verify and start trading when finding a reliable broker. The website has to be responsive, easy to navigate and provide all the necessary information in a clear manner. In case you want to open a trading account with Infinox we will provide all the necessary steps in this review. Infinox's website is very intuitive and fast.

Step 1: Open an account

Go to the Infinox website and click on the sign-up button in the upper right corner of the site. The website will quickly navigate you to the registration page. Here you can select your trading platform (MT4 or MT5) and provide some basic data about yourself, including your email address and phone number. After this, you are ready to start trading, the only thing remaining is account verification. It is a good practice to first verify your trading account and only then start trading with real funds. If you are a beginner trader, just open a Demo first, not a real account.

Step 2: Verify your account

Regulators force brokers to get KYC for their clients. KYC or Know your Client is a practice of providing additional information to your broker to verify your identity and address. Usually, this is an easy step and accounts are verified within 24 hours from the broker's side.

There are two main documents required for the verification, proof of identity and proof of address. For ID a valid current proof of identification, such as a passport, national ID card, or driver’s license is enough. For proof of address, a utility bill or bank statement with your name on it and no older than three months will suffice. After providing copies of these documents, verification will be pending and usually done within 24 hours. 

Step 3: Make your deposit and start trading

After all the bureaucracies and verification are out of the way, the next natural step is depositing money in your trading account. Infinox offers various deposit methods. There is no clear list of all the deposit methods available, as they are spread through different sections of the site. From what we have collected, the main deposit methods available are wire transfers, debit cards (Visa and Mastercard), and online wallets like Skrill and Neteller. The absence of PayPal is not a good sign, and Skrill and Neteller are not very reputable online payment systems as they are mainly focused on casinos. So, the most viable method could be a Visa or Mastercard. 

After depositing, the only thing remaining is trading itself. MetaTrader 4 and 5 will provide all the tools and indicators that you might need for comprehensive price analysis and trading. Both the MetaTrader platforms provide all professional and advanced capabilities, including custom indicators and trading robots. 

The fees are different for each account type, and we will always start with the lowest fee and spreads. For STP, spreads start from 0.9 pips, and commissions are zero. For ECN, spreads start from 0.2 pips, but there are commissions of around £5/€5.5/$7.In the case of scalping, lower spreads are key while for day trading with CFDs, lower commissions are more useful. Traders should select an account type depending on their trading strategy and style that fits their modus operandi.

Comparing Infinox fees with other brokers

There are no fees associated with deposits and withdrawals, and the inactivity fee is zero for Infinox. 

Infinox fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

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Infinox offers world-famous trading platforms i.e MT4 and MT5; they also have a proprietary trading platform for those who want to do some social and copy trading. This platform is called IX Social and can be downloaded for Android and iOS devices. IX social platform offers traders the ability to learn from successful traders and copy them, or by being copied. All three platforms offer all trading features. MT4 and 5 are well-known professional platforms and offer support for custom indicators and Expert Advisors (EAs). EAs are automated trading software that can provide users with alerts or can be used to fully automate trading processes. MT4 is still the most popular trading platform in the world and offers all the tools you might wish for when trading. 

MT4, MT5, and IX social trading platforms all offer mobile trading experiences as well. They can be downloaded from the Infinox website and used for trading while on the go. Mobile versions of MT4 and 5 offer limited capabilities when compared to their desktop version. They have a limited number of features but do include built-in indicators for those who are hard-core enough to trade using just their phone. They don't support custom indicators or EAs though but can be signed in to with the same credentials as on a desktop. As with other brokers, Infinox’s mobile trading platforms are also limited, offering only basic indicators and a limited number of tools. 

Educational materials are useful for new traders to understand more about financial markets, and some brokers provide a vast amount of resources. Resources available for studying on the Infinox website are moderate and consist of numerous articles and glossaries. Topics are very well labeled and it is easy to find needed information about Forex, CFDs, etc. The articles about Doji candlesticks, non-farm payroll, and monetary policy are especially interesting to read. 

Good customer support and assisting when in need is probably most critical in dealing with a broker, as every second could define a win or loss when something goes wrong or information is needed. Customer support is available via live chat, WhatsApp (for the global website), phone, and email. Live chat is the fastest of the bunch and the support team seems very responsive, polite, and well-educated. The website is available in 12 languages, but live chat only works in English. 

Infinox is a regulated Forex and CFDs broker that offers 850+ trading instruments. They are regulated by 4 independent regulatory bodies, adding to their legitimacy, as the FCA is one of these regulators. The chance of Infinox being untrustworthy is very low, and they offer needed security and client protection measures that are undertaken by all the top brokerage firms. Infinox is part of the Investor Compensation Fund, and also provides negative balance protection. This is very important as the leverage offered by the broker is 1:1000 and with CFDs the risk of losing more than your account balance is real. Negative balance protection will prevent traders from losing more than their balance. All clients' funds are kept in segregated accounts as required by regulators. There is one little catch with margin and leverage levels with Infinox. Although the broker offers leverage of up to 1:1000 and minimum lots from 0.01, and a minimum deposit of only $50; it is not possible to open high-volume trades without getting hit by a margin call if things go even just a little south. Traders must exercise extra caution before opening trades with high lot sizes if they have a low account balance. Other than this, Infinox seems a legit and regulated broker with moderate fees and spreads.