Forex Trading

IronFX Review & Rating by Traders, Submit a Review

IronFX customers can choose from a good range of deposit and withdrawal methods. The company’s past and present sponsorships with global brands, such as the Korean diving team and sailing athlete Marilena Makri, have set it apart from other brokers. IronFX has prepared a range of carefully selected and high-quality informational videos offering a valuable insight into the trading environment. IronFX offers a host of possibilities for those who would like to enhance their experience. Webinars, seminars, Forex encyclopedia, educational videos and a Forex eBook are just a few examples. I want to caution beginner traders when using demo trading as a simulation tool, and they should consider the limitations.

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Besides, shares, especially when traded from long-term positions, are very stable and provide a reliable generation of profit. IronFX supports only forex and CFD trading on multiple assets. The lack of trading in equities and options besides the share CFDs might disappoint stock and options traders, although IronFX might be suitable for traders who only want to trade in these markets.

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  1. Compare the markets and instruments offered by IronFX and its competitors.
  2. We believe that education is an important aspect of successful trading, and we’re here to support you every step of the way.
  3. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners.
  4. We at IronFX aim to provide the best services to all our clients!
  5. The online broker offers several different account types and trading platforms, as well as a blog, research material and educational resources.
  6. I liked the accounts mainly, because I believe traders are different and all of them have various demands and preferences.

Traders have eight account options at IronFX, where the minimum deposit is $0 for most. CFDs on indices give traders exposure to the global markets and great opportunities to profit from some of the most popular indices in the US, UK, Germany, China, etc. Indices represent the collective value of underlying publicly-traded companies.

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The other alternative is to use the Personal Multi Account Manager (PMAM) but it is available only to professional traders and money managers. It must be installed on PCs working under Windows 98 or higher. The platform allows clients to manage unlimited accounts but as we have said, it is designed for professional traders only.

An account type to suit a good range of traders

You can trade through the market-leading MT4 platform with a range of forex market research tools. That said, commission charges in the zero-spread accounts are high, starting from $13.50 per lot. The Absolute Zero Account is an STP account and has no commissions on trades.

It takes just $100 to open a Micro account, increasing to $2,500 for a Premium account and $20,000 for a VIP account. Well-documented account subheadings outline fee schedules and side-by-side comparisons for floating vs. fixed, commission vs. no commission, and dealing desk vs. direct interbank trading. All withdrawals incur fees that vary among credit cards, electronic tellers, and bank transfers/locations.

With tight spreads as low as 0.04 and 1% margin requirements, IronFX offers its clients a great opportunity to profit from the global gold and silver markets. The spreads on platinum and palladium are, of course, higher since palladium is not only 30 times as rare as gold but also more valuable than gold. While IronFX offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market. IronFX offers a great fit for traders at low to medium skill levels, with flexible account types that suit many investment and trading styles.

The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency. With CFD on shares, traders can invest in some of the largest and most successful companies in the world without actually owning any company stock. This type of trading allows investors to speculate and make a profit by taking long or short positions, use leverage and enjoy tight spreads and a 0.10% commission taken by IronFX.

Bespoke technologies empower our clients to trade with precision, without slippage and re-quotes. Our team were also pleased to see that the broker offers negative balance protection, meaning traders cannot lose more than their account balance. Traders can choose between floating/fixed spread Standard, Premium, and VIP accounts. Alternatively, the Live Zero Fixed Spread account comes with zero spreads, but traders will have to pay a commission. IronFX was set up in 2010 by a team of finance and software experts.

Only verified trading accounts can deposit and withdraw, and the name on the payment processor must match the IronFX account name. Some payment processors have geographic restrictions, but ironfx review the IronFX back office will only list the ones available to traders. Traders can open an IronFX account via the online application form, which follows well-established industry standards.

Our broker ratings are also informed by the experience of our researchers during the evaluation process. adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

There are no internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. The range of assets at IronFX exceeds 500+ trading instruments. IronFX notes the availability of 80+ currency pairs, making it an ideal Forex broker. Traders also get 15+ commodity CFDs, 20+ index CFDs, 30+ futures, and 150+ equity CFDs. I find the well-balanced asset selection suitable for most retail Forex and equity traders requiring fewer but highly liquid trading instruments, like day traders. I also like the IronFX fractional share dealing, which is excellent for smaller portfolios.

For a wider range of asset classes, you might want to look for a different online broker. With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus. The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker. Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts.

Clients can also download MT4 Advanced, which comes equipped with front-end terminals and back-office reporting functions, as well as automated strategies and the ability to use Expert Advisors (EA). EAs are automated trading bots, which can be customized by the trader and used for robot trading based on preset rules and conditions. While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need.

The broker is regulated in multiple jurisdictions, including Cyprus where it has a license from CySEC. For clients based in the United Kingdom, it is regulated by the Financial Conduct Authority (FCA), which is among the most respected financial regulators in the world. The FCA has issued a license to 8Safe UK Limited, which operates IronFX in the country. You can reach customer support directly on the IronFX website through its live chat feature. The broker also provides email and telephone support on a 24/5 basis throughout the trading week in 45 different languages.

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