IronFX is a multi-award-winning Forex and CFDs broker (150+ awards) that offers services to clients in 180 countries.
This broker offers 4 account types with fixed and floating spreads from 0.0 pips, 1:1000 leverage, and a $10 commission.
IronFX Broker Company Information and Regulation
IronFX has established itself as a global force in the online trading industry. With over a decade of experience, this broker has built a reputation for providing top-notch trading services to retail and institutional clients worldwide.
Key highlights of IronFX include:
- Regulated by multiple authorities: CySEC (Cyprus), FCA (UK), FSCA (Africa), and ASIC (Australia)
- Access to 500+ tradable instruments across 6 asset classes
- Award-winning customer service and educational resources
- MetaTrader 4 platform support, including mobile and web-based versions
- Comprehensive educational library featuring webinars, podcasts, and market analysis
The broker claims that it has won over 150 awards in 10 years, including:
- Best Islamic Forex Broker
- Best CFD Brokerage Firm
- Best Forex Brand
- Best Multi-Asset Broker
- And so on
While IronFX has faced some controversies in the past related to client complaints and regulatory issues, the company has made significant strides in improving transparency, customer service, and overall reputation.
IronFX Summary of Specifications
IronFX has carved out a niche in online trading since its inception in 2010. Let's give you a quick overview of its features:
Broker | IronFX |
Account Types | Standard, Premium, VIP, Live Zero Fixed Spread |
Regulating Authorities | ASIC, FCA, CySEC, FSCA |
Based Currencies | USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK |
Minimum Deposit | $100 |
Deposit Methods | Visa/ Master Card, Skrill, Neteller, Crypto, USDT, Bank Wire |
Withdrawal Methods | Visa/ Master Card, Skrill, Neteller, Crypto, USDT, Bank Wire |
Minimum Order | 0.01 |
Maximum Leverage | 1:1000 |
Investment Options | TradeCopier |
Trading Platforms & Apps | MT4 |
Markets | Forex, metals, indices, commodities, futures, shares |
Spread | Fixed and Floating |
Commission | $18 per 100,000 units |
Orders Execution | STP, ECN, market maker |
Margin Call/Stop Out | Depends on the Trading instrument |
Trading Features | Demo account, economic calendar |
Affiliate Program | Yes |
Bonus & Promotions | Yes |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Livechat, ticket, phone, email |
Customer Support Hours | 24/5 |
IronFX Broker Account Types
IronFX offers a diverse range of account types to accommodate various trading styles and preferences. The first set of live floating and live fixed accounts includes:
Account Type | Standard | Premium | VIP | Live Zero Fixed Spread |
Spread | Floating from 1.6 Fixed to 1.9 | Floating from 1.4 Fixed to 1.7 | Floating from 1.2 Fixed to 1.5 | Fixed to 0 |
Commission | No | No | No | $18 per 100,000 units |
Leverage | 1000 | 1000 | 1000 | 500 |
Base currency | USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK | USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK | USD | USD, EUR |
Minimum lot size | 0.01 | 0.01 | 0.01 | 0.01 |
These account types are ideal for traders who prefer not to pay commissions on their trades.
The second set of account types is STP/ECN accounts, which include:
Account Type | No Commission | Zero Spread | Absolute Zero |
Minimum Lot Size | 0.01 | 0.01 | 0.01 |
Spread from | 0.9 | 0 | 0 |
Leverage | 500 | 500 | 200 |
instruments | Forex, Metals, Indices, Commodities | Forex, Metals, Indices, Commodities | Forex, Metals, Indices, Commodities |
These account types are perfect for high-volume traders.
Advantages and Disadvantages of the IronFX broker
When considering IronFX as your broker, weighing both the pros and cons is crucial. Let's break down the key advantages and disadvantages:
Advantages | Disadvantages |
Wide range of tradable instruments | Higher than average spreads |
Up to 1:1000 leverage | Lack of the MetaTrader 5 platform offering |
Top-tier regulation | - |
Copy trading | - |
Various bonuses | - |
IronFX Broker Sign-Up & Verification Guide
Opening an account with the reviewed broker is a straightforward process designed to enable you to start trading while ensuring compliance with regulatory requirements. The IronFX registration process is explained in the following sections.
#1 Go to the Official IronFX Registration Page
Access the IronFX website directly or TradingFinder. Click Register to begin the process.
#2 Enter Details and Set Trading Preferences
Complete the form with these details:
- Full name
- Mobile number
- Country
Then select your preferred account type, leverage ratio, and base currency. Create a strong password with a mix of characters, then submit the form.
#3 Verify Your Identity
Complete the KYC (Know Your Customer) Process by uploading proof of ID and proof of address documents.
IronFX Trading Platforms
IronFX provides traders with the MetaTrader 4 trading platform on various devices, including Android, iOS, Desktop, and Mac. This platform is also available on web browsers for traders who prefer not to download external apps.
Key features of MT4 include:
- Industry-standard platform with over 30 years of reliability
- Features include advanced charting tools, expert advisors, and customizable indicators
- 9 different time frames
- Easy-to-understand platform
Links
- MT4 Android
- MT4 iOS
- Desktop
- Mac
IronFX Broker Spreads and Commissions
Understanding the cost structure is crucial when choosing a broker. IronFX offers competitive pricing, but it's important to note the variations across different account types and instruments. Here's a breakdown of IronFX's spreads and commissions:
Account Type | Spread | Commission |
Standard | Floating from 1.6 Fixed to 1.9 | No |
Premium | Floating from 1.4 Fixed to 1.7 | No |
VIP | Floating from 1.2 Fixed to 1.5 | No |
Live Zero Fixed Spread | Fixed to 0 | $18 per 100,000 traded units |
No Commission | 0.9 | No |
Zero Spread | 0 | $10 round turn |
Absolute Zero | 0 | No |
It’s important to note that IronFX doesn't have inactivity, deposit, or withdrawal fees. However, it incurs swap fees for maintaining positions open overnight.
IronFX Deposit & Withdrawal
IronFX offers a variety of convenient options for depositing and withdrawing funds, catering to traders from different regions and with varying preferences. These methods include:
- Bank Wire Transfer
- Credit/Debit Cards (Visa, MasterCard)
- E-wallets (Skrill, Neteller, etc.)
- Cryptocurrencies (BTC, USDT, etc.)
To withdrawal money from IronFX, follow these steps:
- Enter client portal;
- Click on withdrawal tab;
- Choose your preferred withdrawal option;
- Follow the process to submit your request.
Remember, while IronFX strives to process all transactions quickly, external factors like bank processing times can affect the speed of withdrawals. It's always a good idea to plan and allow for potential delays, especially when using bank transfers.
Copy Trading & Investment Options Offered on IronFX Broker
IronFX offers an innovative copy trading solution through its TradeCopier platform. This allows traders to leverage the expertise of successful traders or share their own strategies with others.
TradeCopier Platform allows automatic replication of trades from experienced traders in real-time, which is suitable for beginners, time-constrained traders, or those looking to diversify strategies.
TradeCopier has customizable settings, including adjustable risk levels and investment amounts for each copied strategy, stop-loss orders to limit potential losses, and the option to manually close copied trades if desired.
Benefits of copy trading with IronFX:
- Access to a wide range of trading strategies
- Opportunity to learn from experienced traders
- Time-saving solution for busy individuals
- Potential for diversification across multiple strategies and markets
- Ability to earn as a Strategy Provider by sharing successful trades
IronFX Broker Tradable Markets & Symbols
IronFX provides traders with access to a diverse range of financial markets and instruments, catering to various trading preferences and strategies. Here's an overview of the tradable markets and symbols offered:
- Forex Market
- Metals
- Indices
- Commodities
- Futures
- Shares
IronFX Broker Bonuses and Promotions
It's time to go through bonuses and promotions in our IronFX review. IronFX offers various deposit bonuses:
- 100% Unlimited Sharing Bonus
- 40% Power Bonus
- 20% Iron Bonus
These bonuses can significantly boost your trading capital, allowing you to explore new strategies with less risk. Traders should also know that these bonuses can't be withdrawn.
IronFX also organized a Million-Dollar Competition in 2022. While this isn’t a regular occurrence, it demonstrates IronFX's commitment to rewarding its traders in grand style.
IronFX Broker Support
Reliable customer support is crucial for forex traders. IronFX understands this well, offering comprehensive support to its global clients. Here is how you can contact IronFX broker support:
- Live chat: Available on the main page of the website
- Email support: support@IronFX.eu
- Phone support: +357 25027212
- Send Tickets: available for various inquiries
IronFX support works 24 hours a day and 5 days a week to help traders solve their issues.
IronFX Restricted Countries
While IronFX operates globally, this broker doesn’t provide services in various countries and regions. Here is a list of countries that IronFX doesn't offer its services in them:
- USA
- Cuba
- Sudan
- Syria
- North Korea
IronFX Broker Trust Scores & Reviews
When choosing a broker, it's crucial to consider their reputation and trustworthiness. IronFX broker received a 4.7 rating from over 380 reviews on the REVIEWS.io website. Over 95% of reviewers recommend the broker on the mentioned website.
Based on user experiences, REVIEWS.io reports that queries with IronFX's customer service are usually resolved in under an hour, but rates the support department 2.5 out of 5.
It's worth noting that Trustpilot has detected and removed some fake reviews for IronFX, indicating they take review integrity seriously. As with any broker, it's advisable to conduct thorough due diligence before opening an account.
IronFX Broker Education
IronFX shines when it comes to trader education. They offer a comprehensive suite of educational resources designed to cater to traders of all levels:
- Beginner-Friendly Content: Clear, concise articles covering forex basics and "Trading for Newbies" to help newcomers get started.
- Advanced Courses: In-depth educational material on technical analysis, trading strategies, and monetary policy for more experienced traders.
- Diverse Learning Formats: Webinars, videos, podcasts, and eBooks covering a wide range of trading-related subjects.
By providing these free, easy-to-digest educational materials, IronFX aims to empower traders with the knowledge they need to navigate the financial markets confidently.
IronFX in Comparison to Other Brokers
The table below compares the discussed broker with its major peers:
Parameter | IronFX Broker | |||
Regulation | FSA, FCA, CySEC, LFSA, FSCA | FSA, CySEC, FCA, FSCA, CBCS, FSC, CMA | FCA, FSCA, CySEC, SCB | FSA, FCA, CySEC, LFSA, FSCA |
Minimum Spread | 0.0 pips | From 0.0 pips | 0.0 Pips | 0.0 Pips |
Commission | From $0 | From $0.2 | From $0 | From $0 |
Minimum Deposit | $100 | $10 | $100 | $100 |
Maximum Leverage | 1:1000 | Unlimited | 1:500 | 1:1000 |
Trading Platforms | Metatrader 4, Metatrader 5, Metatrader Web, Mobile App | Exness Trade (mobile), Exness Terminal (web), MT4, MT5 | MT4, MT5, cTrader, Web Trader, Mobile App | Metatrader 4, Metatrader 5, Metatrader Web, Mobile App |
Account Types | Classic, Raw | Standard, Standard Cent, pro, Raw Spread, Zero | Standard, Pro, Raw+, Elite | Classic, Raw |
Islamic Account | Yes | Yes | Yes | Yes |
Number of Tradable Assets | 500+ | 200+ | 2100+ | 600+ |
| Trade Execution | Market | Market, Instant | Market, Pending | Market |
TradingFinder Expert Suggestion
As mentioned earlier, IronFX’s support for over 500 instruments, copy trading services through TradeCopier, and over 10k competition prizes are the main benefits of trading with this broker.
However, IronFX broker's main weaknesses are its lack of offering MT5 trading platform and higher-than-average spreads on Standard (1.6 pips), Premium (1.4 pips), and VIP (1.2 pips).