Isandisofx.com appeared online in August 2023 inviting people to explore the global markets with their service in order to enjoy exceptional trading conditions. The broker runs an MT5 trading platform, offering its clients generous leverage of up to 1:400. There is greater emphasis on “zero-pip” pricing model while they also proclaim to uphold transparency and equity in how they deduct fees. These claims pique our curiosity and we’re about to put IsandisoFX to the test to see where the truth is.

IsandisoFX company information

Company website	https://isandisofx.com/
Location	South Africa
Phone number	+27 031 576 0403
Email	service@isandisofx.com
Company name	Isandiso Sethu Investments (Pty) Ltd
License	🛑 None
Assets	Forex, Indices, Commodities, Metal CFDs
Platform	MT5 and MT5 WebTrader

Assessing the IsandisoFX official website

The website of IsandisoFX is modest in appearance but user-friendly since the links to the most important pages are placed right before your eyes for improved navigational ability. The broker chose green and white color combination which seems to work for them well. However, scarce information about IsandisoFX broker seems to be the major problem plaquing its website. The about page consists of a short paragraph with information about the broker’s license. Surprisingly, they’ve also chosen to put their contact page in this section of the menu.

As usual, this broker depends on marketing cliche to drive their point home. These statements are promotional in nature and would require diligent investigations rather than just believing them blindly.

The sign up procedure requires us to jump through a few hoops. After submitting our name, email, country, phone number and password, IsandisoFX wants us to submit KYC documents right there on the spot. The KYC verification involves uploading an ID, password or a driver’s license document in addition to confirming your name, gender, nationality, date of birth and identification number.

Next we choose our trading account which in this case is the IsandisoFX MT5 platform. It has to be a standard account and we also have to choose leverage (maximum is 1:400). The remarks section is optional.

Lastly, IsandisoFX wants us to verify that our information is correct before submitting. Therefore, an online form will be presented to you to cross-check before proceeding to the next phase which is OTP verification. They send the OTP to your email after which you can proceed to register and receive a message letting you know that the registration was successful.

❗ In as much as registration was successful, we needed the adminstrator on the other end to verify our application before letting us in.

The wait time is unfortunately a great inconvenience. We also noted how cumbersome the registration process was.

Inside the client portal of IsandisoFX

The client portal is user-friendly and provides all the functionality that you’d expect from a broker who subjects you to a cumbersome registration process. Features include trading history, user information editing, deposit and withdraw as well as a link to the trading platform. In this case, IsandisoFX provides MT5 trading terminal.

Having replaced MT4, the MT5 is the latest and most popular trading platform among retail traders who depend on brokers to connect to the global forex markets. It’s versatile and refined such that you can even use your own third party indicators or expert advisors to auto-trade the markets. We find this trading platform to be the best that retail brokers can offer. Therefore, this is a plus for IsandisoFX.

What are the trading conditions for this broker?

They profess to be a broker with the “best trading conditions”. Now it’s time to assess these conditions to find out whether IsandisoFX lives up to the standards. They provide 3 account types namely mini, standard and managed. The minimum deposit is $1 but for the other 2 account plans, it is $100. Pips is standard as they quote 1.2 for all account types. In addition to this, leverage is 1:400 but during sign up process, we were able to select standard account where leverage starts at 1:100.

What it means by trading on 1:400 leverage is that IsandisoFX doesn’t pass your executions to the regulated global financial markets since that kind of leverage isn’t found at that level. Turns out that this broker is a market-maker instead of a true ECN or STP. This could be considered evidence of the broker trading against their clients.

Terms and conditions for fees, bonuses and other requirements as stipulated by IsandisoFX

The broker professes transparency and equity but their website lacks a terms and conditions page. This page is used to publish information regarding the broker’s requirements, what they can tolerate and what they can’t condon, fees, commission and other kinds of policies. It’s unfortunate that IsandisoFX is portraying itself as a big brand when their website doesn’t provide this page to its clients. We feel that this is contrary to the spirit of transparency and equity.

The legal status of IsandisoFX

A company in South Africa which is registered as Isandiso Sethu Investments (Pty) Ltd is in charge of the affairs of this broker. A quick online check reveals that Isandiso Sethu Investments (Pty) Ltd is not a company and there is no business in South Africa which is registered by this name.

The broker further claims that they’re licensed by the FSCA (South African financial regulator). They went ahead to provide their licensing number which is allegedly FSP No: 52985. We were not able to verify this information with the FSCA since at the time of writing this review, the website of the regulator was not working. This is somehow strange, considering that FSCA is entrusted with the role of overseeing the conduct of brokers in South Africa. In fact, they have several brokers in their database whose activities they control. So how is it that the regulator is unable to maintain their website?

The Pros and Cons

Summary of IsandisoFX broker review

We still find that this broker is lacking in terms of introductions, company details and even their licensing status is still questionable. A broker that can lie about their company will definitely mislead you when you ask them about their license. Also, it appears that this broker doesn’t have a lot of client feedback online. They just came into the limelight because of sponsored reviews and press release which this company directly pays for. In our opinion, we wouldn’t recommend this broker for your trading.

Let us know what you think in the comment section.