RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Company information & Rebranding history
Founded in Australia, the company behind the Infinox brand has been around since 2009. At first, it used the brand name VantageFX under an agreement with the Sidney-based broker VantageFX, which was licensed by FCA back then. In 2014 the company was rebranded to GO Markets UK and operated on the basis of its own license from UK financial watchdog (as well as such from the Australian Securities & Investments Commission).
Since July 2016, Go Markets UK Trading Limited officially rebranded as Infinox Capital Ltd. It offers trading in 46 currency pairs and CFDs on commodities, indices and precious metals, and is duly authorized and regulated by the Financial Conduct Authority (FCA).
Security of Funds
If you choose to invest in a FCA-regulated FX broker, you can be quite certain that your money is safe. The UK watchdog applies strict rules and requirements to license holders: they must keep client funds in segregated accounts, report regularly to the commission and maintain net tangible assets amounting to at least €730 000 (as a proof of good financial standing).
What is probably most important with regards to security of funds, clients of UK brokers are covered by the Financial Services Compensation Scheme (FSCS). In the event of a company insolvency, FSCS is able pay compensation up to a maximum of £50,000 per person.
What is more, although the Brits have voted to the leave the EU in June this year, the MiFID is still in force, allowing companies regulated in their “home state” to provide services to customers in other EU member states under the Passporting Regime.
Overall, the conditions offered by Infinox Capital are good. The broker utilizes a STP/ECN model with market execution. All trading styles are allowed, including news trading, scalping, hedging and automated trading (Expert Advisers).
Key trading information:
- the minimum initial deposit is £100, which is average;
- leverage up to 1:300, which is also typical for the market;
- trading in micro lots available (on STP account);
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Spreads|
|STP||£100||0.01||1:300||from 1.2 pips on EUR/USD, typical 1.5|
|ECN||£1000||0.1||1:300||from 0.4 pips on EUR/USD + commission £5.50/$6.50/$7.50 per standard lot|
There are two account types with Infinox Capital: Straight Through Processing (STP) and Electronic Communication Network (ECN). Like with most brokers, traders may choose between commission free-trading and lower spread involving commission fee.
Average spreads & Commissions
Infinox Capital offers floating spreads, which vary by account category. The typical ones on the STP account amount to around 1.5 pips on EUR/USD, which is on the upper end of average, while the ones on the ECN account are dramatically lower – starting from 0.4 pips on EUR/USD. The ECN account, however, involves a commission of $7.50 round turn, so trading costs amount to at least 1.2 pips for this pair, commission included, which is standard for the forex market.
In fact, large volume traders are offered lower commission fee – £5.50/$6.50 per standard lot round-turn.
Infinox Capital offers the most widely used platform in forex trading – MetaTrader 4, developed by MetaQuotes. MT4 is the preferred choice of most experienced traders, because it provides advanced charting package, a number of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs), allowing full automatization of trades. Newbies usually also find their way around the MT4 quite easily, due to the user-friendly interface of the software.
Clients of Infinox Capital who want improved competitive edge, greater efficiency and better risk management, may upgrade to the broker’s customized version of MT4, called Infinox MT4 Expert.
It is equipped with some extra features, such as Sentiment Trader, Alarm Manager and Session Map. Besides, Infinox Capital has teamed up with 4XSolutions to provide traders with a VPS that is located in the same Data-Centre as their Trading Servers and Liquidity Providers: The Equinix LD4-EFX1.
At the time of writing this review, Infinox Capital offers a 20% Deposit Bonus ($2 Rebate) up to $20 000 on deposits of at least $500.
Methods of Payment
Clients of Infinox Capital can make deposits to and withdrawals from their accounts via credit/debit cards, (Visa, MasterCard, Maestro), bank wire, Skrill, Neteller, and China UnionPay.
The broker enables clients to open accounts and deposit funds in GBP, EUR, USD, YEN, AUD.
Infinox Capital is a reliable and well-regulated NDD broker, offering trading in various currency pairs and CFDs on the popular MT4 platform. In a nutshell, here are the advantages and disadvantages with regards to this broker:
Strong regulation No choice of trading platforms
STP/ECN model No Islamic swap-free accounts
Advanced tools on MT4