Advantages of Trading with Ibex Markets
iBex Markets is a Forex and CFD broker offering a variety of live account types and multiple assets to trade from their cTrader platform. If you’re thinking about opening a live account with iBex Markets, be sure to read this.
iBex Markets regulation
IBex Markets seems to have a registered company in the United Kingdom which acts as a local agent, this also might be an approach for a future FCA regulation.
We checked iBex Markets’ terms and conditions, and we’ve seen that IBex holds a broker license from Dominica under TBC International Markets. When we opened an account with IBex Markets, we received the option to choose between a semi managed account or a fully managed account. Naturally, education from a broker can only be provided to clients under a few licenses, Dominica is one of them.
Their leverage is up to 1:1000
Having a higher leverage definitely helps traders score a higher profit. But nevertheless you should keep in mind that a higher leverage also equals a higher risk of losing funds faster. Professional traders and brokers are well aware of the risk and seldom trade with a leverage exceeding of 1:100.
The basic and bronze accounts have a leverage of 1:100, which you can start on as a beginner. Their silver account is 1:200, while their Gold Account is about 1:400 and lastly their Platinum is around 1:500.
They have competitive spreads
iBex Markets mentions in their website that their spreads can start at 0.1 pip with all account types, which is promising. Upon testing on this, we tried to make a demo account. We chose the EUR/USD spread which started at about 0.2 pip – which is almost close and we’ve noticed that there were no commissions taken on the trade.
Trade Bitcoin and Pay Bitcoin
Since the popularity of this digital coin,it is definitely advantageous for a trader if their brokerage offers this digital currency. Bex Markets let their crypto traders deposit and/or withdraw funds using credit or debit cards like MasterCard, Visa, e-wallets like EPAY and Paypal, bank wire and even with Bitcoin.
Choose from a variety of crypto currencies
Since opening a demo account, we’ve encountered a good variety of crypto CFDs including Bitcoin and other coins like Litecoin, Ethereum, Ripple, Bitcoin and Dash. This brokerage also offers an option of a special crypto currency account with a minimum deposit of 500 USD.
iBex Markets’ Disadvantages
A huge minimum deposit for basic live account
When opening an account with iBex Markets, you have to invest at about 500 EUR, which is a bit too much as most Forex and CFD brokerages can offer a starting account with a few hundred dollars or less. This can be a bit of an disadvantage for starting traders who have a specific budget.
Support for other Trading Platforms
Although iBex Markets offer the cTrader platform – which is a well-known and highly renowned trading platform, suitable for even for beginner or experienced traders, there are some traders that prefer other platforms like MetaTrader4.
Still, trading with a cTrader platform is quite a good stepping stone since it supports automated trading and has a variety of in-build market indicators. Not to mention, it’s available for iOS and Android users, who are typically on the go.
Trading with iBex Markets can be an excellent trading brokerage for people who have a general knowledge of Forex trading. Nevertheless it is always important to read and understand any brokerage you are planning to open an account to.
Practice risk management and trade responsibly. For more information regarding the website, you can visit them at www.ibexmarkets.com
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