IMMFX Review 2019 | Is IMMFX a Scam or Legit Forex Broker?

Read our IMMFX review to find out if IMMFX is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
40% Complete (danger)
2.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
IMMFX
IMMFX Overview

Part of the IMM Group Ltd, IMMFX is a forex and CFDs broker that is based on the islands of Saint Vincent and the Grenadine. The broker is regulated by several financial regulatory agencies that cater mostly to offshore brokers such as IMMFX.

# Broker's Features IMMFX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review IMMFX.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. IMMFX offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Crypto.

Tradable Products: On offer by IMMFX are 49 currency pairs, 12 Indices and 5 energy products. While forex can be traded on the spot market, market indices and energy instruments are traded via CFDs.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. IMMFX is Bank, DMA, ECN, No dealing desk, STP.

Features: The MT4 trading platform at IMMFX offers traders a full trading experience. It allows traders to trade with virtual money or with real money depending on what mode the trading platform is operating in.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. IMMFX recommended minimum capital is $200.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. IMMFX is regulated by VFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: While IMMFX is said to be regulated by several regulatory bodies such as the VFSC, SVGFSA and FSPC, it should be noted that these bodies are not known to have strong enforcement of breaches of regulatory requirements. In fact, the Financial Market Authority of New Zealand issued a cautionary warning regarding the legitimacy of the FSPC.

Languages Available: Next lets have a look at each broker's different Language options. IMMFX offers Arabic, Bulgarian, Chinese, Croatian, Czech, Dutch.

Payment methods: Next lets have a look at each broker's payment options. IMMFX offers Credit Card, Cryptocurrencies, Local Transfer, Western Union different payment methods for each account types.

Deposit and withdrawal: In terms of payment options, IMMFX supports close to a dozen different methods of payment options. These methods consist of ewallets, payment processors, wire transfer and cryptocurrencies wallets. However, there is no provision for accepting payments by credit/debit cards

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, IMMFX makes MetaTrader 4 available to clients.

Web & Desktop Trading Platforms: The mainstay of IMMFX trading platform is the industry proven MetaTrader 4 trading platform. The MT4 platform is well loved by traders and brokers alike as it is robust and is highly secured.
Mobile Trading Platforms: Catering to an increasing smartphone equipped trading community, IMMFX has also provided those who are interested in trading on the go with the MT4 app which they can download for free.

Other

Trader Education
Trader education at IMMFX comprises of educational videos and webinars. The videos are suitable for newbies and intermediates

Promotions
For a limited period, IMMFX is currently offering a welcome bonus of 20% for new accounts.

Support
The customer support service at IMMFX is available on a 24/5 basis. There are several ways which you can reach out to the support team.

Recup
IMMFX has been around since 2014 and although it is regulated in three jurisdictions, the regulatory authorities are not particularly stringent ones. The broker offers the MT4 platform but no proprietary platforms. The broker works on an ECN business model.

Final Thoughts
If deep regulation is important to you than you may want to avoid this broker, although they do offer enough measures to make cautions traders feel fairly reassured.

Trading Experience
Although IMMFX was just established in 2014, it has been able to provide its traders with a decent array of tools which caters to all categories of traders.

People Also Asked

Is IMMFX regulated?
Yes, IMMFX is regulated by top-tier regulators, VFSC inclusive.
Where is IMMFX based?
IMMFX is based in Kingstown St. Vincent and the Grenadines
How does IMMFX make money?
IMMFX charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in IMMFX account?
With IMMFX you can deposit money via the following means; Credit Card, Cryptocurrencies, Local Transfer, Western Union.
How do I withdrawal in IMMFX account?
IMMFX lets you request a withdrawal of funds from your account via the following means; Credit Card, Cryptocurrencies, Local Transfer, Wes.
What is the minimum deposit for IMMFX?
IMMFX has $200 minimum deposit.
What are the available account base currencies with IMMFX?
IMMFX trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in IMMFX?
IMMFX has a maximum leverage is 1:200 for professional traders.
How do I open an account with IMMFX?
Opening an account with IMMFX is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does IMMFX use MetaTrader?
IMMFX platforms: Yes, IMMFX use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is IMMFX?
IMMFX appears to be a Bank, DMA, ECN, No dealing desk, STP broker which offers market access to a variety of traders.
Does IMMFX accept US clients?
No
Does IMMFX offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with IMMFX: You can trade a wide variety of instruments with IMMFX: Currencies, Commodities, Indices, Crypto