Inefex

Basic Information

• Registered Region
  

  Mauritius
• Operation Status
  Abnormal
• Operating Period
  2020-01-20
• Deposit Methods
  Not disclosed
• Website
  https://inefex.com/international
• Market Type
  Foreign exchange
• Support Languges
  

  English
• Main Business
  Currencies, cryptocurrencies, commodities, stocks, indices, CFDs
• Business Type
  Multi-asset broker
• Social Media
• Contact Details
  info@inefex.com

  +230 52971917
• Type of Accounts
  Basic (min €250), Gold (min €25,000), Platinum (min €100,000), VIP (min €250,000)
• Trading Platforms
  Inefex Web Trader
• Withdraw Methods
  Bank Transfer
• Auto Trading
  Not supported

Pros and Cons

Pros: High leverage of up to 1:400; No fees for deposits and withdrawals; Multiple account types available. Cons: Unregulated status raises significant risk; Minimum deposit requirement of €250 may be high for beginners; Numerous complaints regarding withdrawal difficulties.

Company Background

Inefex is operated by Novir Markets Ltd and commenced its operations in Mauritius from January 20, 2020. The brokerage offers a frontend for retail trading, presenting itself as a multi-asset trading platform. However, it does not hold a valid regulatory license, which is a major concern for potential customers and traders seeking protection and oversight in their trading activities.

Fund Security

As an unregulated broker, Inefex does not offer the same level of fund security that regulated brokers do. There are no segregated accounts or compensation schemes disclosed for protecting client funds. Additionally, the absence of regulatory oversight presents a higher risk of fraud and abuse, as there is no governing authority to enforce compliance with industry standards.

Account Opening

Clients can choose from four account types: Basic, Gold, Platinum, and VIP, each requiring different minimum deposits. The basic account necessitates a €250 deposit. The verification process is unspecified, suggesting that users should contact customer support for details. Features across account types include various spreads and leverage options but specifics on account features remain largely undisclosed.

Trading Fees

Inefex offers a variable spread that depends on the account tier: 3.0 pips for the Basic account on the EUR/USD, decreasing as the account type increases. Other fees such as commissions, deposit fees, and withdrawal fees are stated as free; however, no details are given regarding potential inactivity fees or other costs. This lack of transparency could be a risk for traders.

Trading Instruments

The broker provides a diverse range of trading instruments, including major and minor currency pairs, cryptocurrencies, commodities, and indices via CFDs. For example, clients can trade popular pairs like EUR/USD and commodities like crude oil. However, it does not support ETFs or bonds. This variety appeals to a broad spectrum of traders looking for different market opportunities.

Trading Technology

Inefex incorporates its proprietary trading platform, known as Inefex Web Trader, which is accessible via both PC and mobile devices. The specific features such as execution speed, order types, technical analysis tools, and mobile app functionalities are not detailed, making it challenging for users to evaluate its effectiveness and reliability.

Research and Education

The resources available for research and education at Inefex seem limited, with no mention of market analysis, webinars, or educational materials. This could potentially hinder new traders from developing their skills or making informed trading decisions, highlighting a significant area for improvement in service offerings.

Customer Support

Customer support is accessible via email and phone, but the service availability is not specified, which may concern traders needing timely assistance. Overall feedback on support has been mixed, particularly with reports of insufficient responses in critical situations, reflecting potential weaknesses in service quality and reliability.