IMMFX Forex Brokers Reviews & Ratings!

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IMMFX is an online forex trading brand that is owned by the IMM Group Ltd. They are based on the islands of Saint Vincent and the Grenadines and are licensed and regulated by the Financial Service Provider Commission (FSPC). The company operates according to the regulatory guidelines issued by the Saint Vincent and the Grenadines Financial Service Authority (SVGFSA) of the Eastern Caribbean States (CELAC) and (CARICOM). Established by a group of experienced and professional traders, IMMFX acts as an STP broker providing online retail traders the opportunity to trade in spot forex and Contracts for Difference (CFDs).

To provide their clients with access to the currency and CFDs markets, IMMFX uses the trading platform developed by MetaQuotes Software, the MetaTrader 4 or MT4 for short. Used by brokers and traders all over the world, the MT4 platform has earned a reputation as being one of the most reliable and efficient ever developed for trading forex and CFDs. In fact, it is often regarded as the industry standard trading platform due to its popularity.

With its professional grade charts and numerous technical indicators, the MT4 is the only trading platform that traders will ever need. In addition to the wide array of tools integrated onto the trading platform, the MT4 also comes with a built-in programming language editor which traders can use to develop their own Expert Advisors (EAs).

Apart from the standalone version of the MT4, IMMFX also provide the Multi Account Manager (MAM) platform for the benefit of money managers who have to manage several trading accounts at a time. Also available is the mobile version of the MT4 which is optimized for mobile devices such as iPhones and iPads.

Account Types

As for the types of trading accounts available at IMMFX, there are 3 types for traders to choose from namely Micro Account, Standard Account or Pro Account. The minimum deposit requirement for each type of trading account is $200, $500 and $1000 respectively. Currently, IMMFX is offering traders who make their first deposit a 20% deposit bonus.

Commission & Spreads

IMMFX doesn’t charge any commission on trades made with them. Instead, traders are required to pay a small spread above the market price. The spreads payable depend on the type of account as well as the instrument traded. For micro account, the spread on forex starts from a minimum of 2.1 points, 1.3 points for standard accounts and 0.7 points on pro accounts.  For CFDs, the minimum spreads start from 4 points on micro accounts, 3 points on standard accounts and 2 points on pro accounts.

 Customer Support

Customer support services at IMMFX can be accessed using email, live chat and the telephone. Unlike most forex brokers which offer support only during the trading week, IMMFX offers support 24 hours a day, 7 days a week. In addition, traders in the U.S, Canada, UK and Germany get to enjoy localized support. For the benefit of traders whose mother tongue is not English, IMMFX’s website is also available in 21 other languages:

  • Arabic
  • Chinese
  • Czech
  • Danish
  • Dutch
  • Finnish
  • French
  • German
  • Hindi
  • Indonesian
  • Italian
  • Japanese
  • Korean
  • Polish
  • Russian
  • Slovak
  • Slovenian
  • Spanish
  • Turkish
  • Urdu
  • Vietnamese 

 Pros

24/7 Support hours

High Leverage

Large Selection of Funding Methods

Market Analysis provided on 24/5 basis

Multiple choices of trading accounts

Recurring Bonuses

Cons

No ECN Access

No web based platform

Not Regulated in Europe

Social Trading not available

Spreads higher than average

 

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