Ifexcapital Review: Is It a Safe Broker or a Scam?

I present to your attention the Ifexcapital review, where you will learn information available about this company. You should not rush to open a brokerage account just anywhere before you have studied all the terms and conditions.

Ifexcapital General Information

Website	https://www.ifexcapital.com/
Phone Number	+442070978456
Email	support@Ifexcapital.com
Address	Suite 803, 8th Floor, Hennessy Tower, Pope Hennessy Street, Port Louis, 11328, Mauritius
License	FSCM
Minimum Deposit	—
Assets	Forex, cryptocurrencies, metals, stocks, commodities, indices
Leverage	1:500
Trading Platform	WebTrader

Is Ifexcapital Broker a Safe Option for Traders?

A quick glance of 1-2 minutes already gave me the impression that the platform looks suspicious and dangerous. However, each aspect needs to be studied thoroughly, which I will do in the next few minutes. The firm requires careful verification, including the facts of its activities, trading conditions, and platform.

How Transparent Is Ifexcapital Broker Regarding Regulations?

Let me begin the review of ifexcapital.com with the most important questions:

• Is the broker officially registered?
• Does it operate under a license? Which regulator issued it?
• Where are the company’s offices located?
• How long has the firm existed and provided services?

So, on the official website we see the following facts:

1. The trade name Ifexcapital is used by Zenith Origin Holding Ltd, a company registered in Mauritius and operating under the control of the FSCM regulator.
2. The website is operated by Tranzacta Services Limited, registered in Cyprus.

Let’s start by verifying the information about Zenith Origin Holding Ltd. Indeed, this company appears in the business registry of Mauritius. It is registered under number C183397 on October 22, 2021, and remains active to this day.

A check of the FSCM license registry shows:

• Zenith Origin Holding Ltd. has indeed received a license from the regulator.
• The type of license: SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting).
• Date of issue: October 25, 2021.
• The recipient’s address matches the registered company address.

Now I am confident: the company is officially registered and its activities are regulated by the FSCM. Everything else raised some questions for me.

1. The only confirmation that the firm uses the trade name Ifexcapital comes from the broker itself (more precisely, from the footer of its official website). But is this true?

I found no proof of this. The license registry provides no data on affiliated websites or trade names, nor does it list any contact information for the company.

What would count as proof that Ifexcapital operates under the aforementioned license? I’d accept, for example:

• A scan or photo of the license held next to a sheet showing the current date. It’s unlikely the company would hand it to just anyone for copying, and fake documents are relatively easy to detect today using graphic analysis.
• A properly formalized resolution by the shareholders of Zenith Origin Holding Ltd about using the new trade name.
• An entry in the Regulator’s License Registry or other documents confirming that the trade name has been approved by the regulator. By the way, it would be helpful to see in which jurisdictions this name has been authorized for use.

Some may argue that the firm’s trade names are a commercial secret and should not be disclosed. That’s complete nonsense.

• First, Ifexcapital itself discloses it on its website.
• Second, reputable regulators like the FCA (UK), ASIC (Australia), and CySEC (Cyprus) publish all licensed trade names (as FCA does), website addresses (as CySEC does), or both (as ASIC does) in public registers. If we analyze the legislation, we’ll see that confidentiality standards in those countries are much stricter than in the Republic of Mauritius.

2. I received an email supposedly from Zenith Origin Holding Ltd (sent from one of the email addresses hosted on the zenith-markets.com domain), confirming that Ifexcapital belongs to this firm. Why didn’t it convince me?

I had plenty of reasons to be skeptical:

• If https://www.zenith-markets.com/ really belongs to Zenith Origin Holding Ltd, why would it need another site under a different trade name?
• Does zenith-markets.com truly belong to the company? Again, the same problem: I only read that on the site itself, without any official or independent confirmation.

The facts I found about the company and this website are quite interesting. Earlier, I included a screenshot from the license registry and gave the firm’s registration details. Both mention October 2021. According to the Whois service, the domain zenith-markets.com was registered in July of that same year. That would seem to align perfectly.

But things aren’t so neat. It turns out that back in February 2023, the domain was being offered for sale by the registrar GoDaddy. This is confirmed by an archived snapshot preserved by the Wayback Machine.

Unfortunately, the service didn’t capture any snapshots before early 2024. The obvious reason is a lack of any activity. I state a proven fact: a year and a half passed after the company’s registration, and the domain allegedly belonging to it still hadn’t been purchased. Maybe the company doesn’t own it even now?

Strangely enough, this timeline aligns perfectly with the appearance of ifexcapital.com. That domain, by the way, is also not new and was also bought via GoDaddy. In fact, at the end of February 2023, it was still listed for sale, and by June, the Wayback Machine already showed a snapshot of a fully functional website — almost identical to the current version.

Let me be blunt: I know dozens of examples where scam brokers use the names of real, licensed companies to pass off their operations as legitimate and compliant. They don’t fear claims from the actual firms, regulatory sanctions, or prosecution by law enforcement. But in this case, they really have nothing to fear. They exist only in virtual space, and domain registration and hosting services are easily obtained using drop documents.

I’m inclined to view both Ifexcapital’s activity and the zenith-markets.com website from the same perspective.

3. According to the information once published on the Ifexcapital website, the site is operated by a Cypriot company called Tranzacta Services Limited. Why use such a setup?

There’s no mention of this in the current version of the site. And the term “site operator” is so vague that it’s impossible to determine the scope of its role. However, the company name allows us to assume it acts as a payment processing service. We found confirmation of this in snapshots of the earlier versions of the Ifexcapital website.

It turns out Tranzacta Services Limited processes payments on behalf of Zenith Origin Holding Ltd. Why wouldn’t a licensed broker handle this directly? Personally, I suspect the real company has nothing to do with the site where these transactions take place. Hence the appearance of an intermediary firm that provides its own details. Where traders’ money ends up, of course, will remain undisclosed — classified as “commercial secrecy.” By the way, this fits perfectly into the scheme of using someone else’s name and license.

But things get even more curious when we look at Tranzacta Services Limited.

First of all, our research showed that this company, too, was established only in 2023, around the same time the so-called trade names Ifexcapital and Zenith Markets became active.

What’s more suspicious is that Tranzacta is barely mentioned anywhere online except in connection with Zenith Markets. This kind of information vacuum is typical for shell entities created to serve a very narrow, often opaque, purpose.

And here comes the most alarming discovery. The founder and company secretary of Tranzacta Services Limited are associated with nearly 30 other legal entities! You can verify this yourself via the Cyprus company register https://companiesregistry.cy/company-details/tranzacta-services-limited-444503/.

This is a textbook example of a mass incorporation scheme, where one or two individuals create dozens of legal entities to facilitate gray operations, such as payment processing, tax evasion, or hiding beneficial ownership. These companies often act as legal fronts, giving the appearance of legitimacy to operations that would otherwise be highly suspicious or outright illegal.

Tranzacta doesn’t just process payments. It plays a critical role in masking the financial trail behind Ifexcapital’s business, further distancing the licensed company from the actual website and its operations.

Interesting! While writing this review, I discovered that the broker has another website: https://www.ifexcapital.net/. The domain in this zone was registered quite recently: March 6, 2025. It’s curious, why did the platform need a mirror site? Could it be that the main site started getting blocked due to client complaints or blacklisting by regulators? Because, for instance, I find reviews like this one quite striking.

As you can see, no license was able to prevent the company from acting dishonestly toward this man and his family.

Even more interesting! After spending a little time searching, I found a website (or rather, a placeholder for one) at https://luxrencapital.devawove.com/en/. Know what makes it noteworthy? Its footer contains a full copy of Ifexcapital’s disclaimers.

This suggests that the company is preparing to operate under a third trade name, Luxren Capital, or is planning a rebranding. The reasons for this could vary, but the most plausible one is an attempt to distance the business from the growing number of negative reviews and complaints associated with the Ifexcapital name. A fresh name gives the impression of a new, trustworthy platform, while in reality, the operation behind it may remain exactly the same.

Trading Conditions Breakdown: What to Expect?

My next step is to analyze the broker’s trading conditions. This is exactly the stage where you can assess how profitable the trading can be — and estimate the level of risk for the client.

Ifexcapital offers three main types of trading accounts: Silver, Gold, and Platinum. Additionally, clients can open a VIP account, and users who follow Sharia law are offered an Islamic (swap-free) account.

There are several general conditions common to all plans:

• More than 250 assets (CFD);
• Account currencies include EUR, GBP, USD, AUD, CHF, CAD, and NZD;
• Technical support available 24/5;
• Zero сommission.

However, other conditions depend on the type of account. For example, the maximum leverage is 1:500, but it’s available only to VIP account holders. The better the plan, the better the spreads. By default, spreads start from 0.065 pips, but on the Gold account they are 20% lower, and on the Platinum account — 30% lower. More expensive packages also offer up to 50% discounts on swaps. Platinum and VIP account holders receive free VPS, news alerts, and hedging options.

Maximum leverage also varies depending on the account type and the specific trading instrument. The broker provides a table with detailed information.

Now let me share the conclusions I’ve drawn from analyzing Ifexcapital’s trading conditions.

1. The leverage is extremely high, and the client risks exceed acceptable levels. Let’s return to analogies: reputable regulators (FCA, CySEC, etc.) limit retail leverage to 1:20–1:40, raising it to 1:200–1:500 only for professional traders. That’s specifically due to the level of risk. Up to 75% of retail traders lose their deposits even under such lenient conditions, simply because they don’t know, don’t understand, and don’t care to apply risk and money management rules. How many of them will burn through their funds in the first few trades at 1:200 leverage — or worse, at 1:400 like this platform offers? It’s also worth noting, as the minimum deposit size grows, traders don’t magically gain experience or knowledge. And for example, major currency pairs and crosses are instruments with completely different liquidity and volatility levels. If a trader suffers tolerable losses on the majors, then on the crosses — with all else being equal — they might very well lose the entire deposit.
2. The stated minimum spreads are basically for decoration. On which instruments in the Silver account can we actually see such spreads? On EUR/USD, maybe? What about spreads in trades involving Bitcoin, oil, or Apple shares? In the trading terminal, even for EUR/USD, I never saw the Bid/Ask difference drop to the stated levels. But I did clearly see how, at 10:00 GMT (a relatively quiet time in the market), the spread exceeded 2 pips for EUR and 3 pips for GBP in USD pairs. Aren’t the broker’s appetites a bit too large?
3. Swaps are not shown at all — just mentions of discounts depending on the account type. Without them, it’s impossible to assess trading costs and the likelihood of profitability in the long term.

Here’s a simple example for illustration (those who find numbers boring can skip it). Let’s imagine a beginner trader making about 10 trades a week: 5 with potential profit of 20 pips, and 5 with potential loss of 10 pips (he’s learned the 2:1 reward/risk ratio). The expected value (EV) is: 0.5 * 20 – 0.5 * 10 = 5 pips per trade (a great result for a newbie!). But not so fast. From those 5 pips, we need to subtract: average (not minimum!) spread, swaps, slippage, human error (e.g., taking profit too early).

How much will remain of those 5 pips? With Ifexcapital’s approach to disclosing trading conditions, it’s impossible to evaluate. How hard would it have been to publish contract specifications with all the essential parameters? Why didn’t the broker do it?

We have only one answer: the platform’s owners are directly interested in trader losses, because they turn into company profits. Indeed, if the expected value turns negative, there’s no need to steal a client’s deposit — sooner or later, it will quietly settle in the broker’s account. The conclusion is clear. This is a conflict of interest, and the NDD (No Dealing Desk) technology has absolutely nothing to do with this company. Hence the outrageous leverage and its increase for accounts with larger deposits (since bigger sums need to be drained faster).

Platform Performance

The terminal does not require downloading and installation on a computer because it is available in the WebTrader format. The broker highlights the following advantages of its platform:

• One-click trading.
• Full types of orders, including stop-losses and take-profits.
• Multiple chart layout.
• Easy search among hundreds of assets.
• 24/7 market updates.

Having seen the terminal with my own eyes, I can confirm that the description of the platform on the website is accurate, but I cannot say that it is advanced and professional software.

To prove this point, I will mention just one flaw that can outweigh a thousand advantages. The terminal is integrated with the client’s personal account, and logging into it automatically provides access to personal data and non-trading operations. Overall, this is already a breach of security — an attacker who gains access to the login credentials can do virtually anything: drain the deposit or submit a withdrawal request.

Moreover, Ifexcapital sends these credentials in a welcome email after a new client registers. As you all know, the most common reason for information leaks is email hacking. Accordingly, the security issue of the trading platform becomes critical!

Enabling 2FA could help mitigate this problem. However, the broker does not require it by default. You can also use the company’s mobile app for trading, but then the question arises about its protection against hacking.

Additionally, mobile software is always inferior to desktop (even in web-based form) in terms of functionality and convenience. This means that the number of user errors will inevitably increase. Should I remind you about expected value, deposit loss, and conflict of interest? At the same time, I have a question: could this be the reason why the company is so eager to push its apps onto clients?

Does Ifexcapital Provide Educational Tools for Traders?

It is completely unclear whether there are educational programs and analytical resources for clients. The official website only has educational articles that discuss market classes, but nothing more.

In fact, this is an important aspect, as educational materials and analytics serve as auxiliary tools for both beginners and experienced traders. However, the broker does not offer such things, which can be considered another minus.

Hidden Fees and Charges: What Traders Need to Know?

Trading commissions at Ifexcapital are zero, but don’t celebrate and rush to register an account just yet based on such “favorable conditions.” When a broker talks about zero commissions and ultra-tight spreads, it means they’re hiding something.

The point is, the revenue of a legitimate brokerage operating in the Forex/CFD market comes from spreads, trading commissions, and swaps. If someone willingly reduces two out of three sources to zero, they’re either an altruist (which I somehow doubt), or they plan to compensate for the losses elsewhere.

I see only a couple of options. The first — promise tight spreads but never actually provide them, blaming asset volatility. That’s exactly how it works at Ifexcapital, I’ve seen it myself. The second, more effective one — turn the client’s entire deposit (or at least most of it) into platform revenue. And here we are again, back to the conflict of interest between broker and trader.

In both scenarios, there’s no need to violate any regulatory rules. It’s enough to skillfully manage spreads and swaps. And using someone else’s name and license solves this problem completely.

Also interesting! The company describes a remarkable algorithm for processing withdrawal requests via bank transfer. If the amount is less than €30, the request is rejected. For amounts between €30 and €50, the company reserves the right to charge an additional €30 commission, “which represents the bank charges.” There’s no information about amounts above €50. So, if you send €51, the “bank charges” magically disappear? Wouldn’t it have been simpler to just specify a minimum threshold and the bank’s fee? But apparently, even a couple of extra dollars still matter to Ifexcapital.

User Feedback: Insights from Existing Clients

Over the course of a year and a half, a decent number of Ifexcapital reviews have accumulated online. For example, there are 292 reviews on Trustpilot, with the first one appearing in November 2023 (which is why I refer to a period of a year and a half). Among these reviews, 30% contain strongly negative feedback from users about the broker’s activities.

I could understand a few isolated complaints from dissatisfied users — there will always be such people, nothing can be done about that. But 30% is too many. So, what exactly are the clients complaining about?

1. Numerous complaints about the company’s managers, who do everything they can to persuade beginners to deposit more money. A typical promise: “Get a Golf/Platinum account and your profits will grow faster.” When they succeed in convincing someone, everything usually ends quickly — the client is advised to open an obviously losing trade, and then no one contacts them again. Result: the deposit is gone, and the platform profits. By the way, most people who find themselves in this situation actually provide their full names, phone numbers, and the names of the broker’s staff who communicated with them.
2. Money sent to fund an account mysteriously never reaches it. According to some users, dealing with such issues and sending documents from the bank can take weeks.
3. Delays in withdrawals, and in some cases, withdrawal requests are simply not fulfilled.

All this is more than enough to once again confirm: the company clearly does not use NDD technology, there’s an obvious conflict of interest, and the payment processes are far from transparent (even though a third-party firm handles them). If I had read such reviews beforehand, I definitely wouldn’t have funded an account with Ifexcapital.

How Responsive Is Ifexcapital Broker’s Customer Support Team in Resolving Issues?

The company offers several options for contacting managers:

• Phone call.
• Email.
• Online chat.

The responsiveness and “professionalism” of the bot handling the online chat honestly amused me. To a very simple question, it gave a brilliant answer: it promised to notify my account manager, who will call me tomorrow as soon as possible. Exemplary efficiency!

Let me also say a few words about the phone number. It’s quite odd when a company claiming to be based in Mauritius suddenly provides a landline number in London. It immediately makes you feel like something’s not right. Or is it just me?

And finally, a point not exactly about responsiveness. The broker, at least under the trade name Ifexcapital, has been operating since 2023. I refuse to believe that the staff are unaware of the importance of social media in building reputation and attracting new clients. And yet — I found no links to any groups or channels on the website. Strange? Absolutely. Can this be explained? Sure, if you recall the theory about using someone else’s name and license. Too many people online would spot the forgery, and the chances are too high that the real company would find out. And we all know how that could end.

Pros and Cons

Frequently Asked Questions (FAQ)