Infinity FX review – 5 things you should know about infinityfxmarkets.com

Beware! Infinity FX is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Even at first glance, the website of Infinity FX, or Infinityfxmarkets, provides us with many clues that this is not a legitimate financial services provider. It lacks proper safety certificates, the brand is spelled in two different ways, and in some places even uses a completely different name –  Alain FX. These are hallmarks of online scams. Fact-checking proves that Infinity FX is just that.

Infinity FX Regulation and safety of funds

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Infinity FX is anonymous – no company name is given anywhere, nor is access to a Customer Agreement or Terms and Conditions provided.

The broker claims to be based in London. But a check of the records reveals no licence, but a warning that Infinity FX is a scam.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA).

They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Infinity FX Trading software

Infinity FX claims to offer the popular trading platform MetaTrader 5 (MT5). But there is no link on the website to download this or any other trading software. At the time of writing this review, it was not possible to register a new account or log into an existing one.

It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as leaders because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Infinity FX Trading instruments

Infinity FX advertises that it offers trading in all major financial asset classes. But we have no reason to believe that this fishy website offers real trading.

Infinity FX Spreads and cost of trading

The descriptions of the trading account types promise a spread of 2 pips, which is not very competitive. Given the lack of trading software and legal documentation, we have no idea what the cost of trading is.

Infinity FX Maximum leverage

Infinity FX offers leverage up to 1:500, which is also a clue that it is not a regulated broker.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Infinity FX Deposit and withdrawal methods

On the website we see the logos of many popular payment methods. But due to our inability to register an account, we were unable to ascertain what payment methods Infinity FX uses. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Infinity FX Minimum deposit

Infinity FX requires a minimum deposit of 100 USD. For the same or often lower amount, you could open a starter account with some of the industry’s top brands.

Infinity FX Withdrawal requirements

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.