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Is IFX brokers’ bonus promotion program worth it?

IFX brokers is considered one of the most reputable brokers in South Africa. The south African Forex broker market has entered a tricky spot. Last year, due to covid restrictions several thousand people went out of work. Forex trading emerged as one of the leading businesses in this time. Subsequently, several new brokers entered the market, and they offered all kinds of bonuses to make a name for themselves. 

Most premium and established brokers don’t offer any bonus. However, IFX brokers is on the list of exceptions. IFX brokers offer two kinds of bonuses. In this article, we will be going over IFX brokers promotion bonus program. 

IFX brokers background

IFX brokers is considered mid-tier broker. What does it mean to be a mid-tier broker? As a mid marker broker, a broker is expected to offer average tools and functionality which is sustainable and reliable for new traders as well as professional traders. However, high-end traders find it a little difficult to trade in the trading environment of mid-tier brokers. 

Is IFX brokers’ bonus program a scam? 

IFX brokers is legitimate Forex broker. FSCA regulated and licensed IFX brokers in South Africa. Hence, traders can trust the IFX brokers bonus program and earn bonus amounts. 

IFX brokers bonuses

IFX brokers is offering two types of bonus programs.

  • Sign-up deposit bonus
  • Referral bonus

We will explain both bonus programs and the method to attain them as well.

Sign-up bonus

Most new traders are interested in sign-up bonuses. There are several reasons for the success of sign-up bonuses. 

  • New traders are always entering the market.
  • Existing traders switch their brokers all the time
  • The sign-up bonus is an attractive and easy way to get a bonus 
  • It is a good marketing strategy
  • It is a win-win situation for traders as well as broker.

IFX brokers is offering a 100 percent deposit bonus for new traders. Hence, if anyone makes a new account with IFX brokers and deposit a certain amount of money, they are entitled to a 100 percent bonus by IFX brokers. We don’t often see a 100 percent bonus. Most brokers offer a 10 percent or 50 percent bonus. Thus, we can observe a great number of traders who are interested in making an account on IFX brokers just because of the bonus promotion. 

Limitations 

The hundred percent bonus is a great deal nonetheless. But there are a few limitations that come along with the bonus program. 

The first limitation is the unavailability of bonus deals on demo accounts. This is not something strange. Almost no broker offers a bonus on demo accounts.

The biggest catch is the deposit limits. You will not receive a bonus just by signing up on IFX brokers. You need to deposit a substantial amount of money into your account. This is where it gets tricky; the minimum deposit limit that qualifies for a bonus is 250 USD or 3500 ZAR. 

Summary

The most attractive bonus by IFX brokers is the deposit bonus. Make sure to follow our steps to achieve a 100 percent bonus. 

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