Forex IFIC Bank Trading Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.6

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.8

Business 1.1

Risk Control 1.4

Software 2.1

Regulatory 1.6

Terminal Snapshot

IFIC Bank Trading Conditions

Registered Region Bangladesh

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email info@ificbankbd.com

Contact Number 09666716250

Website www.ificbank.com.bd

Balanced Review

Pros & Cons

Pros

Regulated by Bangladesh Bank
Diverse trading instruments: Forex, commodities, indices, stocks, cryptocurrencies
Multiple trading platforms: MT4, MT5, and web version
Competitive trading conditions with low spreads
24/5 customer support with multilingual assistance

Cons

Limited trading platforms with no MetaTrader support
No clear support for automated trading strategies
High interest rates on loans
Concerns over customer support responsiveness
Withdrawal methods lacking immediate options

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	IFIC Bank	NCC Bank	RGL	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Bangladesh	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.6/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does IFIC Bank Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Retail Account	Beginners and individual traders	Low spreads, user-friendly interface	Ideal for small-capital practice
Professional Account	Experienced traders	High leverage, advanced trading tools	Requires trading volume qualifications
Corporate Account	Corporate clients	Customized services, dedicated support	Requires corporate documentation
Islamic Account	Traders seeking Sharia-compliant options	Swap-free trading	Available for eligible clients
Demo Account	All trader levels	Practice trading without real money	Suitable for skill development

Account Opening Process

To open an account with IFIC Bank, applicants must submit their personal, employment, and financial information. Identity verification is essential, requiring documentation such as an ID and proof of address. The bank offers flexibility in its account structures, allowing users to upgrade to a professional account at a later stage if their trading needs evolve.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (EUR/USD)	0.8	$0 (ECN: $3.5/lot)	Tight spreads for majors
CFDs (S&P 500)	1.2	$0 (ECN: $5/lot)	Competitive pricing
Cryptos (BTC/USD)	1.0%	0.1%	Variable depending on volatility

Other Fees

Additional fees may include deposit and withdrawal fees, inactivity fees, and platform usage fees if applicable. Overnight interest (swap rates) may also apply, and currency conversion fees could be incurred during transactions.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

IFIC Bank User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Rahul Khan

Dhaka

★ ★ ★ ★ ★

IFIC Bank has been an excellent choice for my trading needs. The MT4 platform is user-friendly and the execution speed is impressive. I appreciate the competitive spreads on Forex trading, which have significantly benefitted my investment strategy. Highly recommend their services!

Anika Rahman

Chittagong

★ ★ ★ ★ ★

Overall, my experience with IFIC Bank has been positive. Their customer support is responsive, and I found the account opening process to be smooth. The demo account helped me practice before diving into real trades. Just wish there were more immediate withdrawal options available.

Mohammed Ali

Sylhet

★ ★ ★ ★ ★

I faced issues with the withdrawal process. It took longer than expected to get my funds. Additionally, I found the customer service to be less responsive during peak hours, which added to my frustration. Hoping they can improve on these aspects.

Fatima Sultana

Rajshahi

★ ★ ★ ★ ★

Terrible experience with IFIC Bank. I encountered multiple issues with my account, and the support team was unhelpful. It took forever to resolve my problems, and I felt neglected as a customer. I would not recommend this bank based on my experience.

Bangladesh Market