IronFX started in January 2010, created by experts in finance and software. It has grown to be a top provider of online trading services worldwide. Customers can use the advanced MT4 trading platforms to trade over 300 tools from six different asset classes. IronFX broker serves both individual and corporate clients in more than 180 countries. It is known for its innovative trading platforms and tools. This article will explore all aspects of this broker, offering clear and organized information. If you’re interested, keep reading.
| 🏢 Headquarters | Limassol, Cyprus |
| 📅 Year founded | 2010 |
| 🗺️ Regulation | FSCA, CySEC, FCA |
| 💻 Trading platform: | MetaTrader 4, WebTrader, IronFX Web Trader App, VPS Hosting, PMAM, TradeCopier |
| 💰 Account currency: | USD, EUR, GBP, AUD, JPY, PLN, CZK JPY, PLN, and CZK |
| 📊 Accounts: | Live Floating/Live Fixed: Standard, Premium, VIP, Zero Fixed; STP/ECN Accounts: No commission, Zero Spread, Absolute Zero |
| 💵 Withdrawal options: | Wire bank transfers, Local bank transfers, credit/debit cards, payment apps (Skrill, Neteller, etc.) |
| 💵 Deposit options: | FasaPay, Cryptocurrencies, PerfectMoney, Wire Transfer, Skrill, China UnionPay, Neteller, Credit Card, E-wallets, Paysafe, SafetyPay |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:30 (FCA), 1:30 (CySEC), 1:1000 (FSCA) |
| ☪️ Islamic account (swap free) | Yes |
| 🎮 Demo Account | Yes |
| 💱 Spread: | Floating or fixed, from 0 pips |
| 🔧 Instruments: | Forex, Commodities, Indices, Stocks, Metals, Futures (ALL CFDs) |
| 📋 Orders execution: | Market Maker, ECN, STP |
| ☎ Customer Support: | 24/7 |
| 📚 Education | Yes |
Fees
We checked IronFX’s trading and non-trading fees. There are no hidden fees, and you don’t pay any commission for deposits or withdrawals. However, the payment system might charge a transfer fee. The broker charges a fee (called a swap) for carrying over positions to the next day. Muslim clients can use a feature to disable swaps.
Pros and Cons
| Pros | Cons |
|---|---|
| 24/5 communication with a multilingual support team | You might need to repeat the verification process |
| Many trading assets | Limited number of currency pairs (36) for Pro, Pro-Cent, ECN, and Prime accounts |
| Various account options | Phone support is only for active clients |
| Great research and educational materials | |
| Fast order execution |
Regulation and Safety
IronFX is an international broker that operates in different countries to support its clients. Here are the companies under the IronFX trademark:
- Notesco Financial Services Limited: Regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 125/10.
- Notesco (SA) Pty Ltd: Regulated by the Financial Sector Conduct Authority (FSCA) with license number 45276.
- Notesco UK Limited: Authorized by the Financial Conduct Authority (FCA) with reference number 585561.
Is IronFX Safe and trusted?
IronFX is a trusted broker. It protects clients’ personal information with SSL encryption.
Account Types
The broker offers several types of trading accounts for both new and experienced traders. The differences among them include the base currency, spread size, minimum transaction volume, and commission fees.
Standard
- Spread starts at 1.8 pips
- Leverage is 1:30
- Allows trading with micro-lots (0.01 volume)
- No commission
Premium
- Better conditions for new traders
- Available in USD, EUR, GBP, AUD, JPY, PLN, CZK
- Spread starts at 1.6 pips
VIP
- Available only in USD
- Spread starts at 1.4 pips
- Same terms as Standard and Premium accounts
Zero Fixed
- For advanced traders
- Allows trading with micro-lots (0.01 volume)
- Spread starts at 0 pips
- Only available in USD
- Leverage is 1:30
- No commission
No Commission
- For experienced traders
- Available in USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK
- Spread starts at 1.7 pips
- Leverage is 1:30
- Allows trading with micro-lots
- No commission
Zero Spread
- Professional account
- Available in USD, EUR, GBP, AUD, CHF, PLN, CZK, JPY
- Allows trading with micro-lots (0.01 volume)
- Spread starts at 0.01 pips
- Commission per transaction
Absolute Zero
- For professional trading
- Available in USD, EUR, JPY
- Allows trading with micro-lots
- Spread starts at 0 pips
- Leverage is 1:30
- No commission
Deposits and Withdrawals
To withdraw funds, go to your personal account, find the “Operations” section, and select “Withdrawal.” You can make as many withdrawal requests as you like, and the broker won’t charge a fee, but the payment system might. You can use credit or debit cards, or electronic payment systems like Neteller, Skrill, and DotPay to deposit or withdraw money from your trading account. Most methods, except bank transfers, will add funds to your account within 24 hours. Bank transfers might take 5 to 7 business days to process. You can handle deposits and withdrawals in USD, EUR, GBP, AUD, JPY, PLN, and CZK. Make sure to verify your account to perform financial transactions. Be aware of possible third-party processing fees and currency conversion costs. Only verified accounts can make deposits or withdrawals, and the payment processor’s name must match the name on your IronFX account. Some payment processors have geographic restrictions, but the IronFX back office will show only the ones available to you.
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Trading Platform
IronFX provides Metatrader 4 and 5 but does not have its own trading platform. Social and copy trading options are limited, and there’s no special third-party platform available. They do offer a Mirror account, which is a tool for hedging, not a social trading feature. The Trader’s Dashboard on the website shows the positions of other clients, updated every hour. However, account holders will need to use Metatrader’s limited social features to make use of this information. Although Metatrader 4 and 5 may seem outdated and somewhat clunky, they offer the reliability and extensive features that frequent traders need.
Education
IronFX Academy offers great educational resources for beginner and less-experienced traders. It includes educational videos, an encyclopedia, and five e-books covering a wide range of topics like market analysis, trading psychology, strategies, signals, CFDs, and technical indicators. The Academy would be better with more advanced topics, but its focus on new traders is a smart marketing strategy. The webinar section was locked and required a live account application, and the seminar section had only two non-English programs in MP4 format.
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Customer Support
IronFX provides customer care through email and a support line that’s open 24/5. When customers email the support team, they can expect a reply within 24 hours on business days. However, there is no live chat support, and customer care is not available around the clock. Additionally, the language support is limited, which might be a downside for some customers.
Conclusion
IronFX is a well-regulated online brokerage firm offering a variety of trading options, such as forex, metals, indices, commodities, and shares. It provides different account types and trading platforms to suit various traders. Clients can choose from multiple deposit and withdrawal methods and receive support from a dedicated customer service team. However, the firm lacks educational resources and research tools, which might not be ideal for beginners. High minimum deposit requirements and fees could also be a barrier for some traders. Despite these drawbacks, IronFX remains a strong option for experienced traders due to its regulation and diverse trading choices.
FAQs
Is IronFX good for beginners?
IronFX can be a good choice for beginners. They offer educational resources and a user-friendly platform (MetaTrader 4) to help you get started.
Is IronFX safe to use?
IronFX can be safe if you trade through entities regulated by the UK’s FCA, Cyprus’ CySEC, or South Africa’s FSCA. Always check forex broker safety ratings before you start.
Does IronFX have any special features?
IronFX has a social trading platform called “Tradecopier” that lets you copy the trades of experienced traders. This can be useful for beginners.