IMMFX Review 2024

2 / 5
IMMFX is #108 in our CFD broker rankings.

I have found that IMMFX is best suited to novice traders looking for zero-spread STP accounts, online educational courses, 24/7 support and a practice profile. However, the single offshore regulatory license is a major weak point for me.

- Daytrading Review Team

IMMFX is an online CFD broker offering several asset classes including forex, stocks, and commodities. The broker offers STP accounts with no dealing desk intervention, leverage up to 1:500 and transparent pricing with spreads from 0 pips. The broker is regulated offshore in the Marshall Islands.

CFDs, Forex, Stocks, Cryptos, Commodities
20% Deposit Bonus
Western Union, Wire Transfer, FasaPay, Perfect Money, Sticpay, UnionPay, Paysafecard, MoneyGram, Bitcoin Payments

Forex Trading

I like that IMMFX offers a decent list of 60+ forex pairs with raw spreads and low latency execution. I found that you can trade with leverage up to 1:500 on major pairs with a minimum volume of 0.01 lots.

Stock Trading

I am disappointed to find only 60+ US and EU stocks at IMMFX, including Amazon, Procter & Gamble and McDonald’s. Stocks can be traded via CFDs with a 10% margin and low commission fees of 0.8%.

CFD Trading

I found a comparably small range of 200+ CFDs including forex, stocks, indices and crypto on the MT4 terminal. That said, I appreciated the low spreads from 0 pips, alongside 24/7 customer support.

Crypto Trading

I think IMMFX scores better when it comes to its crypto offering, with 30+ crypto/crypto and crypto/fiat pairs such as ETH/BTC, BTC/USD and DASH/USD. Cryptos can be traded 24/5 with a 20% margin on popular tokens.

✓ Pros

  • The 15+ commission-free deposit methods make it easy and cheap for global traders to deposit funds. I was able to access Western Union, Payeer, PayPal, crypto deposits and more
  • Alongside the powerful MT5 desktop terminal and mobile app, I found that IMMFX offers daily technical analysis and signals on popular assets like WTI crude oil and EUR/USD
  • I found a good selection of online educational content with integrated videos and courses for those looking to gain basic knowledge and advanced strategies
  • I was fairly impressed by the broker's 24/7 customer support via email, phone and live chat, since many firms only offer 24/5 support
  • I was pleased to find an MT4 demo account with real price conditions and a decent virtual sum of $100,000

✗ Cons

  • It's unfortunate that IMMFX is regulated offshore with no guarantee of top-tier financial protection for clients
  • I think the withdrawal fees are quite expensive for some payment methods including a 6% charge for credit/debit cards
  • I find the broker's asset line-up is quite limited compared to top brands and not sufficient for experienced traders to build a diversified portfolio

IMMFX is an online broker offering forex, stocks, and commodity CFDs through the MetaTrader 4 (MT4) platform. In this review, we cover the login process, spreads, leverage, regulation, and more. Read on to find out whether you should open a trading account with IMMFX.

IMMFX Headlines

IMMFX is a veteran online broker, having opened its virtual doors in 2006. The parent company – IMM Group Ltd, is registered offshore in the Marshall Islands and regulated by the Financial Services Authority (GLOFSA). The brokerage has offices in 15 locations across the globe, with registered addresses in London, New York, Toronto, Frankfurt, and Vanuatu (as well as St. Vincent). The company accepts both retail and corporate customers.

IMMFX is an STP (straight-through-processing) forex broker, meaning clients’ orders are placed through a third-party liquidity provider, such as a major bank or other institution. This is often the preferred model for traders, as there is no conflict of interest when brokers take the other side of a trade.

Trading Platforms


IMMFX uses the MetaTrader 4 platform, which is highly regarded by forex traders for its reliability, speed, and range of features. It can be accessed on both Windows and Mac PCs, with a mobile version available for iOS and Android users.

MT4 has been particularly praised for offering a wide range of timeframes, a large number of technical indicators, and interactive charting. Through the platform, users can access robots for automated trading strategies, known as Expert Advisors. These can be created from scratch by traders with coding know-how or bought off-the-shelf. Other benefits of MT4 include:

MT4 Web Trader

MT4 also has a web-based version, known as Web Trader. This allows IMMFX clients to execute orders from any computer with a browser and internet connection. The platform is considered highly reliable and safe to use. MT4 Web Trader has almost identical features to the downloadable desktop app, though some trading tools may not be available.

Mobile App

MT4 can be downloaded on both iOS and Android tablets or smartphone devices. The app features interactive charts, hundreds of financial instruments, and a full set of trade orders. This allows customers to execute positions on the go, from any location.

While feature-rich, most traders prefer to complete their analysis on the desktop terminal, since the small screen size can be difficult for analysing markets effectively.


IMMFX specialises in forex and CFD trading, offering a decent product range. There are over 60 currency pairs on its platform, including majors, crosses, and exotics. This is a fairly typical range size compared to competitors. CFD trading is supported on indices, cryptocurrencies and stocks, as well as commodities like oil and raw metals.

In total, IMMFX offers around 200 financial instruments:

However, not all asset types are available. IMMFX does not support trading on ETFs or options. Some strategies are also not supported  For example, hedging with zero margin is permitted, but scalping is not.

IMMFX analysis indicators
MetaTrader 4 Charts


IMMFX advertises tight spreads starting at an average of 0.1 pips for the EUR/USD pair. Other major currency pairs have average spreads of less than 1 pip, such as 0.4 and 0.6 pips for the GBP/USD and USD/CAD pairs, respectively. Crosses tend to have wider average spreads, at around 1 pip or higher, from 0.5 pips for EUR/GBP to 1.8 pips for GPB/NZD.

Average spreads for stock market index CFDs vary from 2 points (for AUS200) to 13 points (NGAS), generally sitting around the 5 points mark. Individual stocks vary depending on market conditions.

IMMFX uses a variable spread system, meaning the actual figure may be higher than that quoted. However, the brokerage promises competitive prices, with forex spreads generally lower than the industry average of 1.5 pips.

One major downside of IMMFX is the commission charge on withdrawals. The exact rate depends on the transfer method, but fees generally sit at around 5% or below (for instance, 3% for bitcoin transfers and 5.8% for ePay). However, some withdrawal methods can be more expensive, for example, an 8.8% fee is charged for Western Union. Customers can also be charged up to $80 for wire transfers. The amount of commission charged by IMMFX is generally higher than most brokers.


IMMFX offers leverages from 1:2 up to 1:200. Traders should be aware that highly leveraged trades are risky, so we advise caution when trading at the higher end of this scale. Leverage on currencies and precious metals are optional, and can be set by the trader in the IMMFX Back Office.

Note, oil, gas, and stock market indices have fixed leverage rates available.

Deposits & Withdrawals

IMMFX offers a wide range of deposit and withdrawal options. The payment methods are listed below, together with the minimum deposit amount, and withdrawal fee:

Deposits can be processed instantly using all methods except UAE Exchange and wire transfer, which may take up to 5 working days. 1% commission is charged on Khdamti and Advcash deposits, all other payment methods are free. Withdrawals take 1-5 banking days, regardless of the transfer method.


IMMFX offers a 20% deposit bonus to new or existing customers. Clients can access this bonus upon login by emailing It should be noted that this promotion is not a free gift, as customers cannot actually withdraw the bonus. Traders should consider whether the bonus is in line with their trading strategy, as it may prevent you from withdrawing your profits on your deposited funds.

IMMFX also reserves the right to cancel the bonus if certain activity criteria are not met. Several reviews online allege that the broker refused to provide the bonus without giving a reason, which is disappointing.

Live Accounts

Apart from the demo account, IMMFX offers only one account type: the Prime Account. Spreads on this account start at 0.2 pips and leverage is offered up to 1:200. The minimum deposit for the Prime Account is $100. Most trading strategies are permitted, including automated trading using expert advisors. The minimum lot size is 0.01 lot on most instruments, with a standard lot being 100,000 units of the base currency.

Demo Account

IMMFX offers a demo account with up to $100,000 in virtual capital. There is no time limit on its usage, providing a platform for new traders to learn the basics or experienced traders to test new strategies. However, note that while the demo account closely simulates real-life trading conditions, there are claims that the demo account is more profitable than live trading.

Additional Features

IMMFX offers a strong range of educational and tools, including a currency converter and trading calculator (covering pips, margins, pivot points, CFD profit loss, and stop-loss limits). The platform also has regularly-updated signals, trading charts, and an economic calendar.

IMMFX trading tools
Economic Calendar

The educational offering consists of webinars, video libraries, and a financial news section. However, the VPS (Virtual Private Server) service is currently unavailable.

Customer Support

IMMFX’s customer support team can be contacted via the following channels:

The company’s offices are open 24 hours from 19:00 Sunday – 20:00 Friday (GMT).


As an offshore broker, IMMFX is not subject to strict regulation and therefore your funds do not have the same level of protection as other brokers offer. Despite this, the company promises client funds are segregated from its operational cash. The firm also uses international auditors, though there is no further detail about the company used.

Trading Hours

The trading hours for each asset vary depending on the market opening times. For forex, markets are open 24 hours Monday – Friday. For other instruments, such as oil, gas and gold, times vary. Check the IMMFX website for details.

The broker also maintains an economic calendar with information about trading holidays.

IMMFX Verdict

IMMFX is an offshore forex broker with a decent range of currency pairs and competitively low spreads. The brokerage provides access to the MT4 platform, which is highly regarded in the trading community. However, we’d always suggest that you opt for a regulated broker where possible. Some IMMFX clients have been unhappy with the service provided and dispute resolution opportunities are limited with offshore providers.


Does IMMFX Use The MT4 Trading Platform?

Yes, IMMFX clients can access the desktop and web versions of the MT4 trading system. There is also a mobile app for iOS and Android devices.

Is IMMFX A Safe Broker?

IMMFX is based offshore, so your recourse options are limited if you’re unhappy with the service. Several reviews online allege unfair trading practices. However, the company does use segregated accounts and offers negative balance protection, practices that should provide traders with some peace of mind.

What Leverages Does IMMFX Offer?

IMMFX offers leverages up to 1:200 on its Prime Account. Inexperienced traders should be cautious when trading with leverage as it increases the likelihood of losses.

What Is IMMFX’s Minimum Deposit?

The IMMFX Prime account requires a minimum deposit of $100 USD. The minimum trade size on most assets is 0.01 lots.

Does IMMFX Offer Swap-Free Accounts?

Yes, IMMFX offers swap-free accounts for Muslim and non-Muslim traders. You can sign up for an Islamic-friendly account on the broker’s homepage.

Top 3 Alternatives to IMMFX

Compare IMMFX with the top 3 similar brokers that accept traders from your location.

  1. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  2. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
  3. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

IMMFX Comparison Table

Compare IMMFX With Similar Brokers
IMMFX AvaTrade Pepperstone Swissquote
Rating 2 4.9 4.8 4
Markets CFDs, Forex, Stocks, Cryptos, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent)
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $0 $1000
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus 20% Deposit Bonus
Education No Yes Yes No
Platforms MT4 WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade MT4, MT5, AutoChartist, TradingCentral
Leverage 1:200 1:30 (Retail) 1:400 (Pro) 1:30 (Retail), 1:500 (Pro) 1:30
Payment Methods 9 13 11 5
Visit Visit Visit Visit Visit
Review AvaTrade

Compare Trading Instruments

Compare the markets and instruments offered by IMMFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare IMMFX Trading Instruments
IMMFX AvaTrade Pepperstone Swissquote
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes Yes No
Silver Yes Yes Yes Yes
Corn No Yes Yes No
Crypto Yes Yes Yes Yes
Futures No Yes No Yes
Options No Yes No Yes
ETFs No Yes Yes Yes
Bonds No Yes No Yes
Warrants No No No No
Spreadbetting No Yes Yes No
Volatility Index No Yes Yes No

IMMFX vs Other Brokers

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IMMFX is an online CFD broker offering several asset classes including forex, stocks, and commodities. The broker offers STP accounts with no dealing desk intervention, leverage up to 1:500 and transparent pricing with spreads from 0 pips. The broker is regulated offshore in the Marshall Islands.