InfyFX (InfyFX.com) Broker Review by WikiFX

What exactly is WikiFX？

WikiFX has over 37,000 regulated and unregistered brokers listed. This simply implies that WikiFX is committed to providing its users with reliable information. WikiFX has collaborated with over 30 financial authorities.

Wikifx is a platform for searching worldwide company financial information. Its primary duty is to give the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.

The data in the WikiFX database is sourced from legitimate regulatory bodies like the FCA, ASIC, and others. Fairness, impartiality, and facts are also emphasized in the released information. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up to date.

Let's take a look at one of the mentioned brokers, InfyFX, in this post.

What exactly is InfyX？

InfyFX is an online Forex trading broker that promises to provide our customers with the greatest trading environment, the broadest product choice, narrow spreads, quickest executions, leverage options, in-depth research, and unrivaled support. It also promises to provide our customers and partners with one of the safest and finest online Forex trading platforms available.

InfyFX wants traders to know that they employ cutting-edge technology as well as extensive expertise in forex trading to service customers in line with their demands.

There are five account types: Standard, Premier, Elite, and Professional, each with a different minimum deposit and spread. While transaction sizes range from 0.01 to 100 across all accounts, leverage starts at 1:400 on the regular account.

The regular account requires a minimum deposit of $100, and spreads begin at 2.6pips. The minimum deposit to create a Premier, Elite, or Professional account is $1000, $5000, or $100,000, respectively, with spreads starting at 1.6pips, 1.2pips, and 0.4pip.

With a swap, all of their account kinds are commission-free. Hedging is permitted with a 100% margin call and an 80% stop-out.

Is InfyFX a reputable broker？

Before investing cash in this firm, you should consider if InfyFX is regulated.

The firm has a UK address, implying that it is registered with the Financial Conduct Authority (FCA), the UK financial watchdog.

However, when I visit the FCA website, I cannot see the name InfyFX in their database.

In other words, InfyFX is an unlicensed firm that provides investing services and expects clients to trust them.

In terms of legislation, we would like to remind you that Forex brokers in the United Kingdom are regulated by the Financial Conduct Authority (FCA).

The requirements are stringent, and a rogue broker like InfyFX will never fulfill the criteria that these financial authorities need.

It's all for the benefit of investors who struggle to earn money and want to protect their wealth when they decide to invest.

According to InfyFX's statement, the firm is based in the United Kingdom. This, however, is not the case!

To operate in the UK, every corporation must get a license from the UK regulator, the FCA. InfyFX is unable to acquire a license since it violates FCA regulations. All traders may use leverage greater than 1:30 on the exchange. As a consequence, trader safeguards offered by UK brokers, such as Negative Balance Protection and Guaranteed Funds, are not accessible with InfyFX. It is worth noting that, in the absence of a business license, this broker cannot even establish that it is not a hoax!

Another venue for the firm is the island country of St. Vincent and the Grenadines, which is infamous for its frauds. InfyFX is almost certainly a fraudulent broker.

St. Vincent's difficulty is that it has refused to control the foreign currency market. You will be unable to determine if a firm functioning here is a sham. Even if the organization is not a fraud, the majority of the brokers listed here are unsuitable for trading in the risky forex market. Companies, these exchanges sometimes go bankrupt within a few weeks, departing with consumer money.

Is it possible to generate money using InfyFX？

It is difficult to profit from InfyFX. The preceding has shown that InfyFX is not a legitimate broker and has also highlighted why trading with such a broker is not lucrative. It is more beneficial to employ the services of legal firms than those such as InfyFX. Furthermore, even if you do earn a profit, InfyFX does not mention the withdrawal procedure at all in its Terms and Conditions. Typically, this implies that the broker would either charge exorbitant withdrawal costs or complicate the withdrawal process to hold as much of the trader's assets as possible!

InfyFX employs what kind of leverage？

InfyFX provides leverage of up to 1:400. Which is much too much leverage for retail traders in the United Kingdom. Most authorities have prohibited such large leverage. As a consequence, the majority of brokers who provide this amount of leverage are currently unlicensed and do so only to attract new customers - generally InfyFX!

InfyFX on WikFX

Some reviews from reliable websites regarding InfyFX.

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Risk Management at WikiFX

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