For this INFINOX review, we have opened a standard account with the broker and deposited over €4,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 9 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is INFINOX

INFINOX is a United Kingdom-headquartered forex and contracts for differences (CFDs) broker, founded in 2009.

INFINOX is a multi-asset broker with offerings of forex, indices, commodities, cryptocurrencies, and stock CFDs instruments. It is regulated in the United Kingdom, South Africa, Bahamas, and Mauritius.

Some of the highlights of INFINOX are:

🗺️ Authorised & Regulated inUK, South Africa, Bahamas, Mauritius
🛡️ Is INFINOX safeYes
💰 EUR/USD Spread1.2
💳 Minimum deposit$0
💰 Withdrawal feeDepends on the payment method
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities, Futures, Cryptocurrencies
📉 Number of Products90 (depends on the jurisdiction)

Licenses and Regulations

INFINOX holds 4 regulatory licenses.

The broker is regulated in the United Kingdom, Bahamas, South Africa, and Mauritius.

The full list of INFINOX licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
Infinox Capital LtdUnited KingdomFinancial Conduct Authority (FCA)501057European Union£85,000
IX Capital Group LimitedBahamasSecurities Commission of The Bahamas (SCB)SIA F-188GlobalNo compensation scheme
INFINOX CAPITAL LIMITED SA (PTY) LTDSouth AfricaFinancial Sector Conduct Authority (FSCA)50506South AfricaNo compensation scheme
INFINOX LimitedMauritiusFinancial Services Commission (FSC)GB20025832GlobalNo compensation scheme
INFINOX FCA Registration
INFINOX FCA Registration

Is INFINOX Safe

Yes, INFINOX is a safe broker from a regulatory standpoint.

The broker is regulated in four jurisdictions, including the UK’s FCA, which is deemed as one of the top financial regulators. The FCA also offers a compensation scheme of £85,000 to protect the clients’ funds.

For our tests, we opened an STP MT4 account with Infinox Capital Ltd, which is regulated by FCA in the UK.

Fees and Commissions

INFINOX fees are mostly built into spreads, but it charges commission on trades executed from ECN accounts.

Spreads on our trades were lower than the industry average benchmark.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Spreads for our trades varied but remained within a reasonable bound.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.151.11.21.2
IndicesFTSE 1001111
CommoditiesGold1.92.352.42.2

Our testing finds that INFINOX spreads across all assets are much lower than the industry average.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.21.6
IndicesFTSE 10011.5
CommoditiesGold2.23.8

Other Fees

INFINOX does not have any deposit fees. The broker offers one free withdrawal every month but charges fees after that.

Withdrawal fees after the first free withdrawal:

  • For USD withdrawals: $15
  • For EUR withdrawals: €7

It does not have any inactivity or account maintenance fees.

Account Types

INFINOX primarily offers two account types to retail traders.

STP AccountECN Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyUSD, GBP, EUR, AUDUSD, GBP, EUR, AUD
Minimum deposit00
CommissionNone£5 or €5.5 or $7.5
Order executionMarket ExecutionMarket Execution
SpreadFrom 0.9From 0.2

INFINOX also offers the following accounts:

Account Opening

Our overall experience of opening a new account with INFINOX was overall positive. But we faced some setbacks.

We opened an STP account with MT4 trading platform for our tests under the FCA-regulated entity.

The process of registration of a new INFINOX account:

  1. Choose the platform and the account type, and enter details like country of residence, name, email, password, mobile number, account currency, leverage levels, and preferred mode of communication.
  2. Provide details of place of birth, nationality, date of birth, and national passport number.
  3. Enter a current residential address.
  4. Provide details on employment and financial statuses like occupation industry, job title, source of wealth, or the value of savings and assets. Also, declare if you are a US citizen or resident.
  5. Provide some details on trading experience.

We encountered a small glitch during the registration.

The pages took a while to load and the form was not accepting our passport number. We contacted customer service and they told us to skip that page and the process went smooth after.

We submitted the following documents to verify our INFINOX account:

  1. Copy of national identification (both front and back)
  2. Copy of passport

The registration process took around 34 minutesOur account was verified in 2 working days.

Our account was registered on April 28, 2021, and approved on April 30, 2021.

Our overall account opening experience was positive, only with a minor issue.

INFINOX Account Opening
INFINOX Account Opening

Deposit and Withdrawal

Deposits and withdrawals on INFINOX are easy and fast.

The broker offers one free withdrawal every month but charges $15 or €7 after that for each withdrawal request.

Minimum Deposit

INFINOX does not have a minimum deposit on any account type.

Deposit

INFINOX allows deposits using bank transfers, credit and debit cards, and other online wallets like Skrill, and Neteller.

We tested the deposit process on INFINOX using a debit card, Skrill, and Neteller.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2021-05-102021-05-10Instant0
Skrill2021-05-102021-05-10Instant0
Neteller2021-05-102021-05-10Instant0
INFINOX Deposit Methods
INFINOX Deposits

Withdrawal

INFINOX allows withdrawals with bank transfers, credit and debit cards, online wallets, and other methods that are supported for deposits.

Overall, our experience with the INFINOX withdrawal process was positive.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Debit card2021-05-112021-05-172021-05-175 working days0
Skrill2021-05-112021-05-122021-05-121 working day€7
Neteller2021-05-112021-05-112021-05-116 hours€7

INFINOX offers one free withdrawal every month and charges a flat €7 or $15 for every consecutive withdrawal.

Markets and Products

INFINOX offers CFDs trading services with forex, indices, stocks, and commodities, and cryptocurrencies. The UK entity does not offer trading with stocks and cryptocurrencies.

The complete list of INFINOX’s offerings are:

MarketsInstruments
Forex39
Indices30
Stocks8
Commodities8
Cryptocurrencies5

The markets and the number of offered instruments will depend on the account jurisdiction.

Trading Conditions

INFINOX offers excellent trading conditions. The broker allows hedging and scalping strategies and traders can change leverage levels as well.

However, the UK-registered entity does not allow scalping and only allows professional traders to change leverage levels.

Trading MethodAllowed
HedgingYes
ScalpingYes (Not under the UK entity)
Change LeverageYes (Only professional traders under the UK entity)

Leverage

Leverages offered by the various entities of INFINOX are detailed below:

MarketsInfinox Capital LtdIX Capital Group LimitedINFINOX LimitedINFINOX CAPITAL LIMITED SA (PTY) LTD
Major Currency Pairs30:1500:1500:1500:1
Non-Major Currency Pairs20:1200:1500:1500:1
Gold20:1200:1200:1400:1
Other Commodities (except Gold)10:1200:1100:1400:1
Indices5:120:1100:1200:1
Stocks5:125:15:120:1
CryptocurrenciesNA2:15:110:1

Trading Platform

INFINOX offers the two trading platforms:

  • MetaTrader 4
  • MetaTrader 5

MetaTrader 4 and MetaTrader 5 are developed by MetaQuotes Software and are used extensively within the trading industry.

MetaTrader 5 platform is not available under the UK entity.

We executed our trades on the MetaTrader 4 trading platform.

INFONOX Trading Platform - MT4 and MT5
INFONOX Trading Platform

Copy Trading

INFINOX offers copy trading services with its service called IX Social. This service is not available to traders registered under the UK entity.

INFINOX IX Social - copy trading services
INFINOX IX Social

Research and Tools

INFINOX offers a decent set of market research and analysis tools

Tools offered by the broker include:

  • Charting tools
  • Trading signals with Autochartist
  • Economic calendar
  • Remote VPS servers
  • Market analysis by experts
INFINOX Market Analysis
INFINOX Market Analysis

Education

INFINOX offers not-so-great educational resources. Its guides are only limited to very basics.

The broker’s educational materials only include:

  • Basic guides on trading
  • Guides on trading platforms
  • Demo account
INFINOX Educational Material
INFINOX Educational Guides

Customer Service

INFINOX offers good customer support.

Traders can contact the broker via:

  • Live chat
  • Email
  • Phone

The support staff is available 24/7.

Our experience with INFINOX customer support was overall positive.

Contact methodQuestionResponse TimeQuality of reply
Live ChatAsked about the relevant entity for us to open an account.1 minuteClear and direct
EmailAsked several general information about INFINOX’s regulation, account type, leverage, trading conditions7 hoursWe were redirected to the UK entity as our account was opened under that entity. Overall response was clear and accurate
EmailAsked if we are allowed to trade Bitcoin and Apple stock and do we need to open a MT5 account to trade them.20 minutesRedirected to a sales representative.

Live Chat only worked once when we first visit INFINOX’s UK page before our registration. It never worked again after we logged in. The live chat window just kept loading with no response.

INFINOX Customer Support
INFINOX Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with INFINOX was positive, but we found many limitations under the FCA-registered entity.

The spreads charged on our forex and commodities trades were lower than the industry average with fast order execution. Indices for indices were too stable though.

INFINOX allows hedging and scalping, but traders under the UK entity cannot run scalping. The FCA-registered entity only offers an MT4 trading platform without equities trading support, which is a major drawback.

Deposits with the broker were instant and without any fees. Only one withdrawal per month is free, after that the broker charges a flat €7 or $15 for each consecutive withdrawal.

The customer support was also decent, but most of our queries were redirected which we found a bit odd.

We recommend INFINOX to non-European forex traders who run EA and other trading strategies.


Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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