Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.

Gallery

Contact

+1-800-456-478-23

411 University St, Seattle

maxbizz@mail.com

Infinox review

Infinox Review: How Safe is Infinox for Traders?

Infinox and similar traders have warnings on their sites alerting you that online trading is a risky venture and that a majority of traders end up losing money. That’s an honest warning. Lots of people lose money because they lack the necessary knowledge on trading. 

But there is a bigger threat that you should be worried about—scam brokers. They unethically retain your money through huge fees, misadvising you, or denying your request to withdraw.

If you have lost your money to such scammers, don’t lose hope yet. Reach out today for a free consultation session and get free guidance on how you can get your money back.

Is Infinox one of the scam brokers using these or other tactics to steal from innocent traders, or is it a genuine broker helping traders build wealth? In this Infinox review, we assess its business practices to verify its genuineness as a broker.

Infinox Review: An overview

Infinox was founded in 2009 and is registered by the Financial Conduct Authority of the UK, the Security Commission of Bahamas (SCB), and the Financial Sector Conduct Authority (FSCA) of South Africa. The company claims to be a global brand with a presence in 15 other countries.

Infinox offers a range of instruments for you to trade on, including: currency pairs, equities, indices, commodities, and futures.

The firm and its affiliates have won several awards in the fields of trading, finance, and technology. The latest of this is the Professional Traders Award, in which Infinox was ranked as the company with the best trading account margin rates. 

The company, therefore, has quite a glamourous broker profile if we are to go by the information offered on its website. But this does not prove Infinox is not a scam. No con is going to parade shortcomings on its website. Always dig deeper.

Infinox Accounts and Platforms

Infinox offers demo and live accounts. The demo account helps you familiarize yourself with the basics of trading. You receive $10,000 in virtual funds to run the account for a limited period of 30 days.

For live accounts, you can choose an Individual Account, Joint Account, or Corporate Account. The Joint Account allows you to trade on the same account with a partner. The Corporate Account is designed for those who want to trade as a business entity and is ideal for hedging. 

Infinox trading accounts

Under each of the above accounts, you can choose either an STP or CTN account. The STP accounts don’t charge a commission but have higher spreads while the CTN accounts charge a commission on the trades while keeping the spread lower.

For traders in the UK, the leverage is up to 1:30 in accordance with the local regulations. For other territories, the leverage can go up to 1:500.

Infinox also offers a CQG Account for Futures traders.

You can access all these accounts on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which you can use on your desktop and mobile devices. For the CQG Futures account holders, the broker has the CQG desktop platform.

Licensing and Regulation

You can tell the likelihood of a broker being a scam by just looking at its business license. A broker registered in countries with strong regulatory agencies and trader-friendly laws is more likely to be trustworthy. Countries and regions such as the USA, the United Kingdom, Australia, and the European Free Trade area have set laws that protect the traders from scam brokers.

On the flip side, if a broker is registered in regions with weak regulations, it is most probably a scam broker. This is usually the case when the company has made extra effort to register in those regions. Sometimes they also pick countries without extradition treaties with the US, UK, and other stricter countries. 

Infinox licensing and regulation

With its headquarters in London, Infinox Limited (UK) is registered with the Financial Conduct Authority (FCA). The FCA is one of the strongest regulatory agencies in the world and protects traders in the United Kingdom from scam brokers. There is also no record of the company having any legal problems with the FCA.

Normally, an FCA license and such a clean history would be enough to clear a broker. But with Infinox, there is more to consider. Infinox indicates that it has a presence in 15 other countries. So, do the traders in other countries get the same protection UK traders get through FCA? 

While describing its South African branch, Infinox Capital Limited SA, the broker indicates that it is licensed by the Financial Services Conduct Authority (FSCA) of South Africa. Further, it states that Infinox SA is licensed to act as an intermediary for Infinox Capital, which is the registered tradename of IX Capital Group, a company registered in the Bahamas and regulated by the Securities Commission of the Bahamas (SCB). Infinox Limited is also licensed to operate in Mauritius.

In the description of Infinox Limited (UK), just adjacent to the above description, there is no mention of the Bahamas or Mauritius connection. It, therefore, appears that this are operated as different entities, and the branches outside the UK do not adhere to the strict rules implemented by the FCA.

This suggests that Infinox has registered its operations in the UK to comply with the FCA regulations. But the traders outside the UK do not get the same terms and conditions. Therefore, they may be scammed by the broker.

Reviews from Infinox Traders 

Infinox has received mixed comments from traders that have tried their platform. Some traders on the Forex Peace Army site claim it is a genuine broker, while others claim to have been scammed. Unfortunately, it was not possible to determine which comments were from traders in the UK to compare with those from other territories. 

One such user claims that Infinox scammed them by manipulating the charts. This often happens when the company has a proprietary trading platform. Infinox did not respond to the complaint.

Infinox scam

Another trader wrote that he was almost scammed by Infinox, who tried to withhold some of his money when he wanted to withdraw. It appears that they finally let him withdraw all the amount but the attempt itself is a red flag.

Infinox withdrawal issues

Is Infinox a Scam Broker?

The FCA license gives Infinox Limited some considerable credibility. FCA is one of the strictest and most efficient regulators when it comes to protecting traders. However, the company’s attempt to create a complex web of licenses for other territories leaves traders from other territories unprotected.

If you are a trader outside the UK, your account will probably be under the regulations of Bahamas or another region with weak trader-protection laws. This makes Infinox a regulated scam.

Research properly on the rights you are entitled to from your country’s regulator before committing your money to any broker. Avoid any fishy or scammy brokers like Infinox.

Have you or someone you know been scammed by a broker? Don’t let them get away with your money. Get a free consultation session today with experts on wealth recovery and start the process of reclaiming your cash.

Author

Alan Tepfer

Alan Tepfer has been a pioneer of funds recovery for the victims of online trading scam victims for almost five years. His experience in chargebacks, online trading, and banking spans for close to a decade.

Leave a comment

Your email address will not be published.

Call Now ButtonCall Now!