In our IronFX review, we will look at how well the platform works. The interface is very intuitive, and the website offers a variety of options for transferring funds. We’ll also examine the live-chat support, which is provided by the company. It’s a good sign that these are available around the clock, but we wish they offered more options. The downside of the service is that it’s not as comprehensive as other similar forex brokers.
There are a number of advantages of IronFX. First, it’s free to open an account. This means that you can deposit money with no additional fees, and you’ll never pay commissions. Additionally, you can use your credit card, debit card, or wire transfer to fund your account. If you’re a professional trader, you can also use the Affiliate Program, which allows you to earn money from copying the trades of professional traders. The only downside is the fact that this service has a lot of features, but these features do make it a very attractive option for investors.
IronFX has a couple of different types of trading accounts, including a Demo account. It offers several payment methods, including Bitcoin, and has several base currencies. The review will highlight some of the features of each of these accounts and provide an overview of the pros and cons of each. The company was established in 2011 and operates globally in 180 countries. The company is based in Bermuda but does not offer services in the US, Cuba, or North Korea.
Despite its relatively short life, IronFX has been in the news in recent years. The company has partnered with global brands, including FC Barcelona and Adidas. In 2015, the company shut down its offices in Russia, Italy, Nigeria, and New Zealand, and concentrated on the traditional markets. In 2018, the CySEC fined the company EUR2,000 for failing to submit financial statements. In response to the CySEC fine, they have implemented more transparency measures.
Customer support is an important feature that many more brokers lack. They do not have a dedicated research division but do offer some helpful tutorials and free demo accounts. The site provides 24/5 customer support and an account manager. There is an extensive FAQ, but it doesn’t include a U.K. phone number or an international number. We highly recommend that you try IronFX before you make your final decision. You’ll be happy you did.
Trading Instruments ⭐⭐⭐
Primarily focused on Forex & CFD IronFx will let you trade CFDs on commodities, indexes and most popular US Stocks.
|ForexCFDs on Indexes, Commodities, StocksFuturesCryptos||No Bonds, OptionsNo Stock & ETFs|
CFDs, Forex & Crypto
You can trade CFDs on US, UK, French, German & Spanish stocks (shares according to IronFX), as well as most popular commodities and indexes.
|Stock Index CFDs||16||34|
Account Opening ⭐⭐⭐⭐⭐
The account opening is one of the fastest in this category of brokers. You account should be good to go in a matter of one business day.
|Pros ?||Cons ?|
|Fast On-boarding (fully digital)Customer-friendly||Unclear how to select proper legal entity|
You are fine as long as you don’t currently reside in the following countries:
Despite the numerous benefits of its trading platform, it is still unregulated and is not suitable for all traders. While there are a variety of reviews available online, there is no guarantee that they are honest. You’ll want to read a few reviews and see for yourself how it works before you sign up. It’s a good idea to know what you’re getting yourself into before you open an account. It’s important to make sure you’re comfortable with the risks and rewards of using a forex broker.
As far as the company’s payment methods are concerned, it’s pretty standard. It accepts a variety of payment methods including debit cards and credit cards. They also support multiple base currencies. This means you can choose from eight different currencies and trade in several different markets. It’s important to know that, as a beginner, you should only consider ironFX as an option if you’re trading in the forex market.
Besides a wide range of account types, IronFX is also flexible and accessible to all types of traders. Its flexible account types will suit different investment and trading styles. You can use a personal multi-account manager or a series of Metatrader accounts to manage multiple accounts. Nevertheless, if you’re looking for a premium trading platform and volume discounts, this might not be the right option for you.
Aside, from its streamlined registration process, one of the most impressive features of this broker is its ability to offer leveraged products. While these are not suitable for all investors, they do have some benefits. For example, you can get access to a personalized account manager, which is crucial in any Forex trading system. Another key feature is that you can withdraw your money, and IronFX is a secure platform. If you’re looking for a way to profit from the market, this broker can help.
BEST BROKER for CFD trading
? We recommend IronFx for FOREX and CFD trading, for it’s flexible leverage types (up to 1:1000) and local support.
|parameter||Pros ?||Cons ?||Rate|
|Overall||Prompt Account Opening & D/WLocal SupportThird Party Extensions||Limited to forex & cfdNo volume discountsBasic Research & Education||⭐⭐⭐⭐|
|Fees||Zero Spread on some accountsNo withdrawal fee||Inactivity FeeConvoluted Fees Structure||⭐⭐⭐|
|Trading Instruments||Spread Betting (UK only)ForexCFDs on Indexes, Commodities, Metals, StocksFutures||No Bonds, OptionsNo Stock & ETFs||⭐⭐⭐⭐|
|Account Opening||Fast On-boarding (fully digital)Customer-friendly||Unclear how to select proper legal entity||⭐⭐⭐⭐⭐|
|Deposit & Withdrawal||Quick D/WNo Wire Transfer FeesMultiple Payment Methods||High electronic wallet fees||⭐⭐⭐⭐|
|Platform & Trading||Native MetaTrader for macOSPMAM SoftwareMT4 Advanced||Limited Web Trader Functionality||⭐⭐⭐⭐|
|Customer Service||Phone SupportLive ChartProfessional & RelevantSupport in Local language||No weekend supportSometimes Slow email support||⭐⭐⭐⭐⭐|
|Research & Education||Research Application (iOS, Android)Economic CalendarBeginner-friendly tutorials and ebooksDaily Fundamental overview||Basic Technical AnalysisNo Advanced EducationWebinar page but no webinars scheduledNo wave analysisNo full scale technical analysis||⭐⭐⭐|
|Regulation & Safety||Highly Regulated (FSCA, FCA, ASIC & Cysec)||None||⭐⭐⭐⭐|
Affordable, but depending on execution type, trading fees may increase.
|Zero Spread on some accountsNo withdrawal fee||Inactivity Fee but only if trader deposits and withdraws without tradingConvoluted Fees Structure|
|CFD on US Stock||Average||0.10%; Swap Long: €0.01042; Swap Short: €0.00125 (swaps are regularly changing)|
|EURUSD||Average||Long: 9.8; Short: €5.35 + spread (depending on account type)|
|Inactivity FEE||Above average||3% of “deposited funds” (but only if trader deposits and withdraws without trading)|
IronFx, despite its limitations in product offerings and pale education and analysis offers flexible Forex and CFD trading conditions through its legal entities and local support throughout the world.
Its high commission structure, multiple execution types and low deposit/withdrawal fee positions it at the top of European brokers.
IronFx Brief Overview
|? Country of regulation||UK, Australia, Cyprus, South African Republic|
|? Trading fees class||Average|
|? Inactivity fee charged||Yes (only with deposit and no trading)|
|? Withdrawal fee amount||$0|
|? Minimum deposit||$100|
|⏰ Time to open an account||1 day|
|? Deposit with credit card||Available|
|? Depositing with electronic wallet||Available|
|? Number of base currencies supported||14|
|? Demo account provided||Yes|
|? Products offered||CFDs on Stocks, Commodities, Metals, Forex, Futures, Cryptos|