IFXBanc Review: A Bother Forex Scam Shown

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IFXBanc Review: A Bother Forex Scam Shown

IFXBanc ( is an online broker scam claiming to offer personalized trading services. IFX Banc is claiming to give members an opportunity to manage their investments. The platform also offers to give members premium webinars and a trading mentor. These claims could be helpful if only the broker offered real trading services. Members are up in arms after getting disappointed with the platform. Read this genuine IFXBANC Review for more.

IFXBanc Review

About IFXBanc

According to their about us page, they claim to be a world renowned financial service provider. These are false claims as no one seems to know who actually owns the platform. Disclaimer at the footer of their homepage claims Ankor Group Investment Ltd operates the platform. The company is apparently located in Sofia Bulgaria. We went ahead and searched the company register and could not find this company. These scam artists are using a false company to fool investors. Stay safe by using approved and vetted brokers who are backed by industry professionals.

Scam artists will do or say anything to try and make their platforms appear legit. And this is what IFXBanc is trying to do with their address claims. These scam artists use European cities to try and entice investors from this region. Thanks to our years of investing and trading, we do know how to track down platforms. The website lacks vital information regarding the actual owners of the website. Who are the founding and staff members of the platform? Such information is crucial in helping traders determine who is held responsible with funds.

Asset Index

IFXBanc is using commodities, Forex, Indices, and stocks as their asset of choice. When it comes to Forex services, the leverage set according to their Forex page is 1:200. Some of the most popular assets with IFX Banc include AUD/USD, EUR/GBP, CHF/USD, and NZD/USD. When it comes to commodities, the assets include Coffee, Gold, Oil, and Silver. Indices available include DAX, FTSE 100, NASDAQ, and S&P 500. Some of the stocks mentioned are from leading companies such as Alibaba, Apple, Coca-Cola, and Microsoft.

Domain Details

According to the trusted domain register, the website was recently created. Information shows was created on 30th April 2019. It makes the platform barely a year old. Claims of offering online trading for the last five years are false. Scam artists will usually claim to have a strong online reputation to pull investors. Thanks to our keen eye, we have concrete proof that refutes their claims. These are scam artists who will stop at nothing to have your deposit.

Educational Materials

When a broker wants to entice newbie traders, they also claim to offer free training programs. IFXBanc is no different as they claim to offer several educational materials. Some of them include eBooks, Video courses, and webinars. The problem with their video courses is that they are copied from other reputable sources. Once you use them, they are not helpful in using their platform. A true broker will offer real time training on how to trade on their terminal and other important aspects.

License and Registration of IFXBanc

Since the platform claims to be located in Bulgaria, we had to reach out to officials in that region. The Forex regulator in Bulgaria is known as Bulgarian Financial Supervision Commission. And the results we got is that IFXBanc is NOT LICENSED OR REGULATED by the BFSC. With this bold statement, it means the platform is operating without a valid trading license. Traders who open an account with this platform are putting their funds at risk. Such brokers never insure deposits made by traders as dictated by Forex regulations.

To confirm our fears, we also reached out to various online regulators. The regulators include ASIC, CNMV, CONSOB, CySEC, FCA, FSC, and NFA. None of them has ever heard of this platform. These scam artists have also used a random company registration number. The number 205655321 is the number they use as their company registration number. These scam artists have used a random number to try and fool investors. Most investors won’t bother to check or validate the number, but we do.

Limitations of IFXBanc

Account Plans

IFXBanc Accounts Available

IFXBanc is furnishing traders with three account types on their platform. Accounts listed include Bronze, Silver, and Gold. Minimum deposit with these accounts is $250, $2,500, and $10,000. Other features include having 24/5 support and educational center. Gold account holders get the more notable features such as account manager, personalized trading strategy, and price alerts. These are not strong enough reasons to deposit $10,000 with a broker who is far from being licensed.

Contact Details

When it comes to communicating with the platform, IFXBanc is using calls and emails. They have posted a number which is ever busy and not reliable. Once you call, you will be asked to leave your contact details and wait for an account manager to call. The email option is not efficient as members claim to wait for weeks before receiving any communication. Once you send in your withdrawal request via email, you have to wait for over two weeks. And this is one of the reasons why we don’t recommend the use of unlicensed entities.

Deposit and Withdrawal

These scam artists have covered the deposit department with ease. A lot of depository channels have been listed such as AstroPay, MasterCard, Neteller, Skrill, Visa, and Yandex. The main problem with IFXBanc is no one has been able to withdraw even a single cent. These scam artists will use excuses as to why funds don’t appear in your bank account. Some of the claims include your bank account not accepting their system. These are reasons why you will not be able to withdraw any funds with IFX Banc.

Personal Account Manager

Another problem with IFX Banc is using an account manager who has no trading experience. These scam artists have hired call agents to act as account managers. Calls received will most likely be the account manager asking for more deposits. They claim that the more you deposit, the higher your chances of winning. Stay away from such platforms as these account managers take control of accounts and lose. Members who give control to these account managers end up losing way more.

Trading Platform

IFXBanc is claiming to have a platform that combines simplicity with sophistication. Other claims include having a platform that is compatible to both desktop and mobile devices. Advanced tools they claim to have include economic calendar, live charts, price alerts, and risk management. Their trading platform lacks one essential item, security. The platform has no DDoS protection and SSL encryption which makes it an easy target for third parties. Hackers will easily take over and steal valuable data such as credit card information.

Safety of funds with IFXBanc

When it comes to how safe funds are with the platform, all hell breaks loose. The number of complaints has risen significantly. IFX Banc does not segregate accounts which is against set industry rules. Instead, they are pooling funds in one account putting deposits at risk. Members of this platform should not expect any compensation as the platform does not participate in a compensatory scheme. Stay away from their illicit trading platform as no one is able to make headway with their accounts.

Scam or legit IFXBanc

IFXBanc Contact Details

The evidence is out in the open for all to see, IFXBanc is a scam waiting to pounce on unsuspecting investors. Make sure to stay away by marking their promotional emails and videos as spam. Stay away and warn your family and friends from joining any of their affiliate programs.

Bottom line

We have to add this platform to our blacklist to help protect our readers. Stay safe and use industry recommended products such as vetted Forex trading robots. With trusted Forex trading products, you are guaranteed of a safe trading experience.

Continue reading our reviews and get to know more about online trading products and services.

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