IronFX Review
💲 Min Deposit $100
⌛ Year Established 2010
💼 Regulation
💡 Min Position 0.01 lot
🌐 Website www.ironfx.com
🌎 Country
⚖ Max Leverage 1:30
💰 Bonuses
👨💻 PAMM
🏆 Trading contests
📁 Segregated accounts
📈 Managed accounts
📊 MAM
📖 Free education
🗺 Vps
IronFX is a well-established broker since 2010. IronFX has headquarters in Cyprus, Australia, United Kingdom and South Africa. IronFX to provide their Forex/CFD trading services to global clients.
This broker has also been regulated by CySEC 125/10, ASIC 417482, FCA 585561 and FSCA 45276.
Extensive Review
IronFX is part of the International Financial Services Group, which began to exist since 2010. Operating under Notesco Financial Services Limited, this broker is always trying to expand its market to reach as many clients as possible. Since 2012, IronFX has expanded its market to more than 20 countries.
IronFX has a strong legality guarantee because it has a license from FCA, ASIC, and CySEC. Regulation becomes one of the important factors by traders when choosing brokers. Because it already has elite class regulations, it's no wonder that the company has won the trust of clients from all over the world. At present, there are around 1.2 million clients registered in IronFX.
There are around 200 instruments that can be traded in IronFX. Not only currency pairs, opening an account in IronFX also allows CFD trading on stocks, commodities, and metals.
There are two types of accounts provided by IronFX. Traders can choose between Live and STP/ECN trading accounts. Live Floating/Live Fixed is divided into 4 accounts, including Micro, Premium, VIP, and Zero Fixed. Meanwhile, STP/ECN is divided into 3 accounts, including STP/ECN No Commission, STP/ECN Zero Spread, and STP/ECN Absolute Zero.
Despite having many types of accounts, the cost of trading in IronFX is quite high. This broker does offer a zero fixed spread option, but there is still a fairly large commission expense each Lot when trading with this broker. Traders must pay a maximum commission of USD43 each standard lot.
IronFX is a broker with advanced technology. Traders have the opportunity to trade on 15 platforms at once with only one account. They can enjoy the benefits of forex trading through the industry-leading MT4 online trading platform. MetaTrader 4 is supported in Windows, Mac OS, Linux, iPhone/iPad, Android, and any internet browsers.
Traders are also presented with the most flexible and advanced platforms, PMAM. It's recommended for both professional traders and money managers. With PMAM, clients will get some benefits and trading features, such as managing orders and positions, one-click order entry, unlimited account manager, and monitoring of financial instruments' prices and forex rates.
Traders can open positions with a minimum order of 0.01 lots, deposit starts from USD500, and flexible leverage up to 1: 1,000. IronFX is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies which include AUD, USD, EUR, PLN, GBP, CHF, JPY, RUB, CZK, and HUF. The language used on their website also varies. Not only English, but there are also Arabic, Czech, French, Italian, Polish, Portuguese, Russian, Spanish, and many more.
For deposit and withdrawal, IronFX has developed what is known as a bespoke interface, which means that the interface is adjusted to each client's particular needs. IronFX does not accept cash for deposits. However, for other types of deposits, the Client Portal is completely automatic and allows clients to make both deposits and withdrawals in one simple interface. The deposit and withdrawal methods range from Bank Wire, credit/debit card, to FasaPay, Neteller, and Skrill.
Clients have the opportunity to gain more earnings from IronFX by joining partnership programs like Introducing Brokers (IB), Affiliates, and White Labels. This broker also offers a notable bonus package, with incentives that currently includes a 100% sharing bonus if traders can deposit USD10,000, and a 20% bonus if traders can deposit up to USD2,000. Terms and conditions do apply and none of this bonus cash can be taken out of traders' accounts.
For beginner traders, IronFX provides a wide variety of forex educational materials, such as videos, webinars, and seminars. Another important IronFX offering is its new social trading facility. Furthermore, the company's customer support is designed to offer the highest level of service through email, live chat, and phone support in more than 30 languages.
Overall, IronFX considers itself to be the leading online broker and seems to be recovering well from past regulatory issues. It supports optimized trading in MetaTrader 4 and offers its clients an easy way to make deposits and withdrawals through its proprietary Client Portal.
Account Information
Apart from the forex demo account, this broker offers Zero fixed spread, STP/ECN, Micro and Premium. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by IronFX is up to 1: 30. Meanwhile, you can open an account with a starting capital of $100.
Min Deposit
$100
Max Leverage
1:30
Spread
Fixed and Variable
Commission
$18
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $500
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission $18
Instruments Traded
Besides lots of currency pair, IronFX also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Zero fixed spread account, IronFX specifically provides it with the following instruments and leverage:
Forex
1:30
💲 Min Deposit $500
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, IronFX also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for STP/ECN account, IronFX specifically provides it with the following instruments and leverage:
Forex
1:30
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, IronFX also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Micro account, IronFX specifically provides it with the following instruments and leverage:
Forex
1:30
💲 Min Deposit $1000
💡 Min Position 0.1 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, IronFX also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Premium account, IronFX specifically provides it with the following instruments and leverage:
Forex
1:30
Payment Methods
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.
IronFX also provides payment with UnionPay, Perfect Money, Local bank transfer, Ethereum, Crypto and Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, IronFX offers you MetaTrader 4 and MetaTrader 5.
Customer Support
Do you have any question or find any trouble related to IronFX? If you do, you should reach IronFX's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About IronFX
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if IronFX is a good broker for you or not by reviewing the criteria. In general, IronFX provides trading service in Forex . As for the payment methods, you can choose between Skrill, Wire transfer, Credit/debit cards, Neteller, UnionPay, Perfect Money, Local bank transfer, FasaPay, Crypto and Ethereum. The customer support is available via Email, Phone, Live chat and Office.
The starting capital in IronFX is $$100.
IronFX is regulated by CySEC 125/10, ASIC 417482, FCA 585561 and FSCA 45276. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
IronFX is a brokerage company offering trading services for clients since 2010 with offices in Cyprus, Australia, United Kingdom and South Africa.
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10 Comments
Ratnam Raman
Jun 1 2023
IronFX is like having a personal shopping assistant that is always on the lookout for the best trades to invest in with price alerts and similar features. It could although, strive to offer simpler account types because these ones are a bit complex,. While IronFX makes it easy to stay on top of your trades and not miss any moment, It could do better to craft a more effective customer support, to make it the ultimate trading destination. Have you had a positive experience with IronFX as your broker?
Irfan Bakri
Feb 13 2024
@Ratnam Raman: I could agree with you about the simplicity of the accounts. I think there are too many. However, the customer support of the company is top notch. They respond quickly, they are polite and friendly, and they are always helpful. I have had a very good experience with the broker, especially with the frequent webinars. They offer a lot of insight into trading and even present trading ideas.
Baalkrishan Srinivasan
Oct 4 2023
I don't want to say my age but I started school again :)
Now I'm learning how to make money from trading on financial markets.
And the most important thing is that this training I am doing on my broker's services. That is, I opened a trading account with Ironfx and started learning.
I am still trading on a demo account and trying to realize in trading the knowledge that I received in the broker's Academy.
I started recently, but I can already feel the result.
Borislav Koledin
Dec 21 2023
Maximum leverage is 1:30? I like this article but the information about leverage seems to be false one. As far as I know there's a flexible leverage up to 1:1000 and it depends on the account type you choose as some of them are confied with 1:500 or even 1:200.
The fact that the company possesses many regulations is a big plus, it means it's recognized by the financial entities across the world and that's awesome. So, speaking of it, maybe the author is from another jurisdiction? Perhaps, as again, leverage is way higher.
K. Honigswald
Feb 24 2024
Over 300 trading instruments. This was my "highlight" of joining IronFX in November last year. I am not even going to lie, my previous brokers only offered a few trading instruments, and sure there would be others that offer more instruments, but I only speak on what I know and have used.
Some of the markets that I have access to are the forex market, metals, indices, commodities, futures, shares, and probably some others. Under these asset classes are several assets. It's a web of assets.
Padathan Muniandy
Feb 28 2024
I trade with IronFX. for more than a year actually. they successfully offer everything that is mentioned in this review and then some. Pretty good operation. Pretty good execution, pretty good platforms, executions, assets, you name it. You have flexibility to try out different strategies, and broker is reliable from the standpoint of regulation and safety.
Rewien Vervoort
Mar 30 2024
The broker provides a wide range of financial services that every trader can choose from. They offer seven types of trading accounts with favorable conditions and it was insane for me. I chose the "Live Zero Fixed Spread" account because it suits my strategy perfectly. I prefer to trade in a volatile market and I don't like when at that time the spreads of currency pairs become wider, so that's why I say it is perfect for me.
The trading platform is multifunctional and it has many advanced features for fundamental and technical analysis. Personally, I recommend this broker to all my friends!
Nathan Melgares
Mar 31 2024
Trading here and so far no intetion to move away! My orders are executed fast.
And the costs from them are low thanks to tight spreads.
Hats off to customer support guys - they always get back on time.
Samuel Vargas
Apr 16 2024
I like the wide range of financial instruments provided by this broker and also how Customer - centric it is. It also lets its traders improve on their trading knowledge for free with its educational resources. IronFX is a good place to protect your capital, especially now with inflation rates to the ceiling.
John Kathigasu
Apr 23 2024
The great broker that cares about the development of traders and they do everything for that. They hold a lot of seminars in different countries and I remember how I visited one of them in Malaysia last year in October. It was quite interesting and I found out many new things about financial markets. I had the opportunity to chat with the professional traders and exchange some ideas and opinions. I had a great experience and I am going to visit one more time in the future!