IFGM Trade spreads start from 0.0 pips, and only charges commissions on the IFGM Pro Account. IFGM Trade does not charge deposit fees or withdrawal fees. IFGM Trade does not document any inactive fees.
Finding a reputable list about IFGM Trade Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below are an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
IFGM Trade offers variable spreads that start from 0.0 pips on EUR/USD.
The IFGM commission and product schedule offered by the broker are transparent as well as competitive. Commissions that traders can expect when trading with IFGM Trade is as follows:
- On the Standard Account fees for the products on offer are built into the price of the contract when you seek to transact with the broker.
- The price offered to you may depend upon several factors including transaction size, the term of the product, the prevailing market rates, and the different interest rates applicable to the currency pair involved in a forward foreign exchange transaction.
- On the Pro Account, the price of products will be calculated as the market price plus any applicable commissions. Commissions are payable on both sides of a trade, meaning at open and close.
- The Islamic Account will operate in the same manner as a Standard Account, with the following exceptions: It will not attract any swap charges or swap benefits, commissions, or interest.
An Administrative Fee is calculated and deducted from the balance of the account every two days at midnight coordinated universal time.
Additional Trading Fees
When trading financial instruments such as forex, traders can often expect that overnight, or swap fees will be charged when positions are held for longer than a trading day.
It is not clear what the swap fees are with IFGM Trade for short or long positions which are held overnight. These are usually calculated based on the one-month interbank rate minus 2%.
For more information on the swaps that traders can expect, traders should contact customer services.
IFGM Trade makes provision for an Islamic Account for Muslim traders who follow the Sharia Law, and thus prohibited from earning or paying interest where the holding of open positions is concerned.
IFGM Trade does not offer spread betting and thus spread betting fees do not apply.
IFGM Trade does not charge deposit fees or withdrawal fees on any of the payment methods used. the following payment methods used:
Traders should, however, ensure that they verify additional charges which may be waived by their financial institution. Besides, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
Pros and Cons
|✔️ PROS||❌ CONS|
|Transparent fee schedule||Spreads are not the tightest|
|Zero commissions charged on the Standard account|
|Low commissions charged|
|Competitive trading conditions|
|Islamic Account/Swap-free provided for Muslim traders|
|Deposit fees or withdrawal fees not charged|
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How many instruments can I trade with IFGM Trade?
IFGM Trade offers trading in 28 Forex, 9 Indices, 2 Precious metals, and 1 Commodity.
Which platforms are supported by IFGM Trade?
MetaTrader 4, IFGM WebTrader and MAM / PAMM.
Does IFGM Trade offer leverage?
Yes. Leverage of up to 1: 500.
What spreads can I expect with IFGM Trade?
You can expect spreads that start from 0.0 on EUR/USD when using the Standard Account. The Islamic account, however, features wider spreads depending on the financial instrument and several other factors.
Does IFGM Trade charge commission?
Yes. IFGM Trade only charges commissions on the IFGM Pro Account.
Is IFGM Trade regulated?
Yes. IFGM Trade is regulated by ASIC.
Is IFGM Trade a recommended forex trading broker for experts and beginners?
Yes. IFGM Trade caters to both beginners and experts.
What is the overall rating out of 10 for IFGM Trades?