IFS Markets – what we know and have as facts about it; IFS Markets is a registered trading name of Forex Financial Services Pty Ltd, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 323193. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Product Disclosure Statement that the company is acting as principal to clients and so is responsible for setting the prices of opening and closing contracts and IFS does not act as a client’s agent to find them the best prices. There is also written: ‘ We may enter into OTC transactions as principal with a number of reputable counterparties to hedge some of the market risk arising from our transactions with you (and our other clients). We may in our discretion, choose not to hedge our transactions with you in which case you will be wholly reliant on our ability to meet our counterparty obligations to you to settle the contract.’ This means the company is a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
So far, we have not received any complaints from customers of IFS Markets. If you have any criticism to share with us or feel annoyed by IFS Markets, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and IFS Markets if you wish.