General Information & Regulation
ITFX presents itself as a financial and technological company registered in the United Kingdom that claims to provide its clients with 250 tradable financial instruments with leverage up to 1:200, floating spreads from 0.2 pips and 0% commission on the MT5 trading platform, as well as 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that ITFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.15/10. Please be aware of the risk.
Market Instruments
ITFX advertises that it offers access to 250 trading instruments in financial markets which include forex, commodities, indices, stocks and cryptocurrencies.
Account Types
ITFX appears to offer demo MT5 and live account types, however, it says nothing about the minimum initial deposit requirement to open an account.
Leverage
The leverage provided by ITFX is up to 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
ITFX claims that the EUR/USD spread is as low as 0.2 pips. As for commissions, there is a 0% commission and the broker also says to compensate its clients commission for funds withdrawal twice a month.
Trading Platform Available
Platforms available for trading at ITFX are MT5 for Windows, Android, iOS and WebTrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
ITFX says to work with numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, Maestro, Skrill, Neteller, Bank Wire Transfer and Online Banking. Receiving costs are said to be covered by ITFX. The minimum deposit amount may vary based on the payment service provider selected.
As for the processing time of deposit and withdrawal requests, deposits are immediate while withdrawals can be processed within 24 hours. However, Bank wire deposits may take between 1-4 working days to reach ITFX. Also, the time required for your funds to reach your account depends on your banks timeframe as well as the method used to withdraw.
Customer Support
ITFX‘s company address: Level 30, 1 Canada Square, Canary Wharaf, London E14 5AB, UK. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
