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IronFX

Cyprus|10-15 years| Benchmark AA|
Market Making(MM)|

https://www.ironfx.com/en/

Website

Rating Index

Benchmark

Benchmark

AA

Average transaction speed (ms)

410.3 Good

MT4/5

Full License

IronFX-Demo1

Netherlands
MT4
1391

Benchmark

Speed:AA

Slippage:AA

Cost:C

Disconnected:C

Rollover:AA

MT4/5 Identification

MT4/5 Identification

Full License

1391
Server Name
IronFX-Demo1 MT4
Server Location Netherlands

Contact

+357 25027212
support@ironfx.com
https://www.ironfx.com/en/
https://www.linkedin.com/company/ironfxglobal
  • 100% Mediation in the complaints

    Response of EMC during7working days

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+357 25027212

Other ways of contact

Broker Information

More

Broker Name IronFX
Registered in Cyprus
Regulated by CYSEC, FCA
Year(s) of establishment 2010
Trading instruments 300+ instruments, including Forex, Metals, Indices, Commodities, Futures and Shares
Minimum Initial Deposit Information not available
Maximum Leverage 1:30
Minimum spread 0.0 pips onwards
Trading platform MT4, WebTrader
Deposit and withdrawal method VISAMasterCardMaestroSkrillNetellerDotPay
Customer Service 24/5, Email, phone number
Fraud Complaints Exposure No for now

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of IronFX

Pros:

  • Wide range of trading instruments including Forex, Metals, Shares, Futures and Cryptocurrencies.

  • Multiple account types including STP/ECN, Zero Spread and VIP accounts.

  • Various deposit and withdrawal methods with no fees from IronFX's side.

  • Availability of Islamic accounts for traders adhering to Shariah law.

  • Customer support is available 24/5 via phone and email.

Cons:

  • Educational resources are not available, which may be a disadvantage for beginner traders.

  • The maximum leverage is limited to 1:30, which may not be suitable for high-risk traders seeking higher leverage.

  • Limited regulatory oversight, with the company being regulated by only one top-tier regulator.

  • High commissions for some account types and instruments, which may result in higher trading costs for traders.

  • Limited availability in certain countries, which may restrict access for some potential clients.

What type of broker is IronFX?

Pro Con
IronFX offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, IronFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

IronFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IronFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that IronFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with IronFX or any other MM broker.

What is IronFX?

IronFX is a global online trading platform that provides access to forex, stocks, metals, commodities, and indices. Founded in 2010, IronFX is regulated by multiple financial authorities and provides clients with access to various trading platforms, including MetaTrader 4 and WebTrader. The company offers a range of account types, trading tools, and educational resources to cater to the needs of traders with different levels of experience. IronFX has won numerous awards for its products and services, including Best FX Broker, Best Trading Platform, and Best Customer Service Provider.

What is IronFX?

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Is IronFX Safe?

IronFX, operated by Notesco Financial Services Ltd in Cyprus, is currently regulated by the Cyprus Securities and Exchange Commission (CYSEC), holding an Market Making (MM) License, with license no. 125/10.

Is IronFX Safe?

IronFX's UK entity, NOTESCO UK Limited, is currently regulated by the Financial Conduct Authority (FCA) in the UK, holding an STP license under license no.585561.

Is IronFX Safe?

Market instruments

Pros Cons
  • Various instruments
  • Some instruments may have low liquidity
  • Opportunity for diversification
  • Some instruments may have wide spreads
  • Variety of currency pairs
  • Trading too many instruments can be overwhelming
  • Access to different asset classes
  • Complexity of tracking multiple instruments

IronFX offers access to 500 trading instruments from 6 asset classes, covering forex, metals, indices, commodities, futures, and shares. With over 80 currency pairs, including major, minor, and exotic pairs, IronFX provides access to a range of global markets. While some traders may find the number of available instruments overwhelming, this variety provides numerous trading options and the opportunity to capitalize on different market trends. However, some instruments may have low liquidity, leading to wider bid-ask spreads, and high volatility, leading to greater risk exposure. Additionally, trading a large number of instruments may require a greater amount of research and analysis, and some instruments may have high margin requirements, leading to greater risk and capital requirements.

Market instruments

Spreads and commissions for trading with IronFX

Pros Cons
  • Low spreads on certain account types and instruments
  • Lack of transparency on minimum deposit
  • Competitive commissions for certain account types
  • Lack of information on swap rates
  • No commissions on certain account types and instruments
  • Limited information on other trading costs such as slippage or overnight fees
  • Wide range of instruments to trade

IronFX offers a range of spreads, commissions, and other costs depending on the account type and instrument traded. For example, the live floating spreads of EURUSD in VIP account can be as low as 0.6 pips, which is highly competitive. Additionally, IronFX provides competitive commissions for certain account types, such as $10 per lot on STP/ECN Zero Spread account for trading EURUSD. On the other hand, IronFX lacks transparency in providing information on minimum deposit and swap rates, which may be a disadvantage for traders. Additionally, the lack of information on other trading costs such as slippage or overnight fees may be a drawback for traders who want to accurately assess the total cost of trading with IronFX. Despite these drawbacks, IronFX offers a wide range of instruments to trade, providing traders with multiple options to diversify their portfolio.

Promotions & Bonuses

Iron FX is hosting a trading competition running from April 1, 2024, to June 30, 2024, with a massive $500,000 prize pool up for grabs. Traders can participate by opening a competition account and meeting the minimum deposit requirement for each round. The competition provides an opportunity for traders to showcase their skills and compete for substantial cash prizes. Detailed information regarding the competition, including rules, prize structure, and registration process, is available on the Iron FX official website.

Promotions & Bonuses

Trading Accounts

Pros Cons
  • Various account types to choose from
  • Minimum initial deposit not disclosed
  • Multiple base currency options
  • Zero fixed spread account may have high commission fees
  • Flexible leverage up to 1:30
  • Commission-free trading available

IronFX seems to offer an innovative yet professional account structure to its traders.

For live floating or live fixed spreads trading, Iron FX offers Standard, Premium, VIP, and Live Zero Fixed Spread accounts for CFDs across forex, metals, indices, commodities, futures, and shares (except Live Zero). Minimum lot size is 0.01 with multiple base currencies. Spreads range from 1.6 pips (Standard) to 1.2 pips (VIP) floating or fixed (Live Zero) with/without commissions. Leverage up to 1000:1, 20%/50% stop-out, swap-free options available. All accounts include dedicated account managers, dealing desk support, and 24/5 assistance.

Trading Accounts

For traders who want to try the STP or ECN model, three specilized account options are on offer: No commission, Zero Spread, and Absolute Zero. These accounts provide access to CFDs on forex, metals, indices, and commodities, with a minimum lot size of 0.01. Base currency options include USD, EUR, JPY, GBP, and BTC.

The No Commission account features spreads starting from 0.9 pips without any commission charges. Conversely, the Zero Spread account has zero spreads but includes commissions on trades. The Absolute Zero account combines the best of both worlds, offering zero spreads and no commissions, albeit with a lower leverage cap of 200:1 compared to 500:1 for the other two account types.

Trading Accounts

Trading Platform(s) that IronFX offers

IronFX's trading platforms cater to various trader preferences, offering a range of web-based, mobile, and social trading solutions. The MT4 platform provides advanced functionality, while the WebTrader and Web App offer user-friendly interfaces. The VPS service ensures continuous trading capabilities, and the mobile app allows for on-the-go access. Additionally, the PAMM and TradeCopier features facilitate social trading and strategy copying, providing traders with opportunities to learn from and follow successful peers.

Pros Cons
  • Two platform options: MT4 and WebTrader
  • Limited platform options compared to other brokers
  • MT4 is a widely recognized and popular platform with advanced charting and technical analysis tools
  • WebTrader may have limited features compared to the desktop version of MT4
  • MT4 allows for customization with the use of Expert Advisors (EAs) and indicators
  • No proprietary platform offered
  • MT4 has a large online community where traders can share ideas and strategies
  • Learning curve may be steep for new traders unfamiliar with MT4
  • MT4 is available on desktop, mobile, and tablet devices for convenient access

MetaTrader 4 and WebTrader

  • MetaTrader 4 (MT4) - The industry-standard platform offering advanced charting, technical analysis tools, Expert Advisors (EAs), and customizable interfaces.

  • WebTrader - IRON FX's proprietary web-based platform providing a user-friendly interface and access to various trading instruments.

  • VPS (Virtual Private Server) - Allows traders to run automated trading strategies and EAs on a dedicated virtual server, ensuring continuous connectivity.

  • PAMM (Percent Allocation Management Module) - Allows traders to allocate funds to successful money managers and participate in their trading strategies.

MetaTrader 4 and WebTrader

Mobile Apps:

  • New mobile app (iOS and Android) - IRON FX's newly launched mobile application, enabling traders to monitor their accounts, place trades, and access real-time market data on-the-go.

Mobile Apps:
  • Web App - The next generation, web-based Web Trader app is a powerful app that is easy to use and syncs effortlessly with the MT4 platform.

Mobile Apps

Social Trading Features:

  • TradeCopier - A social trading feature that enables traders to automatically copy the trades of other successful traders, mirroring their strategies and positions.

Social Trading Features

Maximum Leverage of IronFX

Pros Cons
  • Allows traders to increase potential profits with a smaller initial investment
  • High leverage can increase potential losses
  • Provides flexibility to trade larger positions
  • Requires strict risk management and trading discipline
  • Can be suitable for experienced traders with a solid understanding of leverage
  • Inappropriate use of leverage can lead to margin calls and account liquidation
  • Can offer opportunities for diversification and risk management
  • Not suitable for all traders, especially beginners

IronFX offers a maximum leverage of up to 1:30, which allows traders to increase potential profits with a smaller initial investment and provides flexibility to trade larger positions. However, high leverage can increase potential losses, and requires strict risk management and trading discipline to avoid margin calls and account liquidation. Although leverage can offer opportunities for diversification and risk management, it is not suitable for all traders, especially beginners who may not have a solid understanding of leverage. Therefore, traders must carefully consider their risk appetite and experience level before deciding to trade with leverage.

Deposit and Withdrawal: Methods & Fees

IronFX offers a variety of deposit and withdrawal options for traders. Bank wire transfers have no deposit fees, but may be subject to corresponding and intermediary bank fees. Credit/debit card deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals may have fees up to EUR 1.5 per transaction. Skrill and Neteller deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals have a maximum transaction amount of USD 50,000 per transaction and Neteller withdrawals have a minimum fee of USD 1.00 per transaction. DotPay withdrawals have a maximum transaction amount of PLN 200,000 with no associated withdrawal fees.

Deposit

Credit Card/Debit Card Deposit Fees Maximum transaction amount
VISA None USD 50,000 per transaction
MasterCard None USD 50,000 per transaction
Maestro None USD 50,000 per transaction
Bank Wire Deposit Fees
Bank wire Depends on the corresponding and intermediary banks.IronFX does not apply any fees.
Skrill Deposit Fees Maximum transaction amount
USD 50,000 per transaction
Neteller Deposit Fees Maximum transaction amount
USD 50,000 per transaction
DotPay Deposit Fees Maximum transaction amount
PLN 200,000

Withdrawal

Credit Card/Debit Card Withdrawal Fees Maximum transaction amount
VISA up to EUR 1.5 per transaction USD 50,000 per transaction
MasterCard up to EUR 1.5 per transaction USD 50,000 per transaction
Maestro up to EUR 1.5 per transaction USD 50,000 per transaction
Skrill Withdrawal Fees Maximum transaction amount
1% capped to USD 10,000 USD 50,000 per transaction
Neteller Withdrawal Fees Maximum transaction amount
2% capped to USD 30.00 / minimum USD 1.00 per transaction USD 50,000 per transaction
DotPay Withdrawal Fees Maximum transaction amount
N/A PLN 200,000

Educational Resources in IronFX

Iron FX offers a comprehensive educational suite including VIP market analysis, webinars, seminars, podcasts, trading psychology resources, financial news, video tutorials, and an economic calendar. These rich educational resources can potentially help traders seek knowledge enhancement across various topics, strategies, market updates, and psychological aspects of trading, ensuring a well-rounded learning experience for all skill levels.

Educational Resources

Customer Service of IronFX

Pros Cons
24/5 support line No 24/7 support
Email support with response within 24 hours on business days No live chat support

IronFX offers customer care services through email support and a support line that is available to answer calls 24/5. Customers can expect to receive a response within 24 hours during business days when they send an email to the support team. However, there is no live chat support available, and customer care services are not available 24/7. Also, the language support provided is limited, which may be a disadvantage for some customers.

Conclusion

Overall, IronFX is a well-established and regulated online brokerage firm offering a wide range of trading instruments, including forex, metals, indices, commodities, and shares, to its clients. The company offers multiple account types and trading platforms, catering to the needs of different types of traders. It also provides its clients with access to various deposit and withdrawal options, as well as a dedicated customer support team. However, the lack of educational resources and limited research tools may make it less suitable for novice traders. Additionally, the high minimum deposit requirement and relatively high fees may make it less accessible for some traders. Nonetheless, IronFX's strong regulation, multiple trading instruments, and flexible account options make it a competitive choice for experienced traders.

Frequently asked questions about IronFX ( FAQs)

Is Iron FX suitable for beginners?

IronFX can be a decent starting point for beginners. This broker provides educational resources and a user-friendly platform (MetaTrader 4).

Is Iron FX safe to trade with?

IronFX can be safe if you use their entities regulated by UK's FCA, Cyprus' CySEC or South Africa's FSCA. But check forex broker safety ratings before starting.

Does Iron FX offer some unique features?

IronFX offers a social trading platform (“Tradecopier”) to copy experienced traders, potentially helpful for beginners.

Check whenever you want

Download App for complete information

WikiFX Verification

IronFX · WikiFX Survey
IronFX · Benchmark
Average transaction speed(ms)
410.3 Good
The highest transaction speed(ms)
79 Great
The highest speed of opening positions(ms)
78 Great
The highest speed of closing position(ms)
234
The lowest speed of opening positions(ms)
1996 Poor
The lowest speed of closing position(ms)
1874
20.11USD/Lot Poor
39.07USD/Lot
Long: -9.75USD/Lot    Short: 1.01USD/Lot Poor
Long: -16.95USD/Lot    Short: 14.1USD/Lot Great
Average slippage
-0.1 Great
Maximum transaction slippage
13 Good
Maximum positive slippage
-1 Good
Maximum negative slippage
13 Good
Average disconnection frequency (times/day)
0.6 Great
Average reconnection time (millisecond/per request)
15.2
Ranking: 48 / 134
Test user 228
Orders 3,996
Ocuppied margin $31,845,391 USD
Data Source WikiFX Data provide
Updated: 2024-11-04 01:00:00
Sources
Language
Mkt. Analysis
Creatives

IronFX · Company profile

Broker Name IronFX
Registered in Cyprus
Regulated by CYSEC, FCA
Year(s) of establishment 2010
Trading instruments 300+ instruments, including Forex, Metals, Indices, Commodities, Futures and Shares
Minimum Initial Deposit Information not available
Maximum Leverage 1:30
Minimum spread 0.0 pips onwards
Trading platform MT4, WebTrader
Deposit and withdrawal method VISAMasterCardMaestroSkrillNetellerDotPay
Customer Service 24/5, Email, phone number
Fraud Complaints Exposure No for now

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of IronFX

Pros:

  • Wide range of trading instruments including Forex, Metals, Shares, Futures and Cryptocurrencies.

  • Multiple account types including STP/ECN, Zero Spread and VIP accounts.

  • Various deposit and withdrawal methods with no fees from IronFX's side.

  • Availability of Islamic accounts for traders adhering to Shariah law.

  • Customer support is available 24/5 via phone and email.

Cons:

  • Educational resources are not available, which may be a disadvantage for beginner traders.

  • The maximum leverage is limited to 1:30, which may not be suitable for high-risk traders seeking higher leverage.

  • Limited regulatory oversight, with the company being regulated by only one top-tier regulator.

  • High commissions for some account types and instruments, which may result in higher trading costs for traders.

  • Limited availability in certain countries, which may restrict access for some potential clients.

What type of broker is IronFX?

Pro Con
IronFX offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, IronFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

IronFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IronFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that IronFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with IronFX or any other MM broker.

What is IronFX?

IronFX is a global online trading platform that provides access to forex, stocks, metals, commodities, and indices. Founded in 2010, IronFX is regulated by multiple financial authorities and provides clients with access to various trading platforms, including MetaTrader 4 and WebTrader. The company offers a range of account types, trading tools, and educational resources to cater to the needs of traders with different levels of experience. IronFX has won numerous awards for its products and services, including Best FX Broker, Best Trading Platform, and Best Customer Service Provider.

What is IronFX?

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Is IronFX Safe?

IronFX, operated by Notesco Financial Services Ltd in Cyprus, is currently regulated by the Cyprus Securities and Exchange Commission (CYSEC), holding an Market Making (MM) License, with license no. 125/10.

Is IronFX Safe?

IronFX's UK entity, NOTESCO UK Limited, is currently regulated by the Financial Conduct Authority (FCA) in the UK, holding an STP license under license no.585561.

Is IronFX Safe?

Market instruments

Pros Cons
  • Various instruments
  • Some instruments may have low liquidity
  • Opportunity for diversification
  • Some instruments may have wide spreads
  • Variety of currency pairs
  • Trading too many instruments can be overwhelming
  • Access to different asset classes
  • Complexity of tracking multiple instruments

IronFX offers access to 500 trading instruments from 6 asset classes, covering forex, metals, indices, commodities, futures, and shares. With over 80 currency pairs, including major, minor, and exotic pairs, IronFX provides access to a range of global markets. While some traders may find the number of available instruments overwhelming, this variety provides numerous trading options and the opportunity to capitalize on different market trends. However, some instruments may have low liquidity, leading to wider bid-ask spreads, and high volatility, leading to greater risk exposure. Additionally, trading a large number of instruments may require a greater amount of research and analysis, and some instruments may have high margin requirements, leading to greater risk and capital requirements.

Market instruments

Spreads and commissions for trading with IronFX

Pros Cons
  • Low spreads on certain account types and instruments
  • Lack of transparency on minimum deposit
  • Competitive commissions for certain account types
  • Lack of information on swap rates
  • No commissions on certain account types and instruments
  • Limited information on other trading costs such as slippage or overnight fees
  • Wide range of instruments to trade

IronFX offers a range of spreads, commissions, and other costs depending on the account type and instrument traded. For example, the live floating spreads of EURUSD in VIP account can be as low as 0.6 pips, which is highly competitive. Additionally, IronFX provides competitive commissions for certain account types, such as $10 per lot on STP/ECN Zero Spread account for trading EURUSD. On the other hand, IronFX lacks transparency in providing information on minimum deposit and swap rates, which may be a disadvantage for traders. Additionally, the lack of information on other trading costs such as slippage or overnight fees may be a drawback for traders who want to accurately assess the total cost of trading with IronFX. Despite these drawbacks, IronFX offers a wide range of instruments to trade, providing traders with multiple options to diversify their portfolio.

Promotions & Bonuses

Iron FX is hosting a trading competition running from April 1, 2024, to June 30, 2024, with a massive $500,000 prize pool up for grabs. Traders can participate by opening a competition account and meeting the minimum deposit requirement for each round. The competition provides an opportunity for traders to showcase their skills and compete for substantial cash prizes. Detailed information regarding the competition, including rules, prize structure, and registration process, is available on the Iron FX official website.

Promotions & Bonuses

Trading Accounts

Pros Cons
  • Various account types to choose from
  • Minimum initial deposit not disclosed
  • Multiple base currency options
  • Zero fixed spread account may have high commission fees
  • Flexible leverage up to 1:30
  • Commission-free trading available

IronFX seems to offer an innovative yet professional account structure to its traders.

For live floating or live fixed spreads trading, Iron FX offers Standard, Premium, VIP, and Live Zero Fixed Spread accounts for CFDs across forex, metals, indices, commodities, futures, and shares (except Live Zero). Minimum lot size is 0.01 with multiple base currencies. Spreads range from 1.6 pips (Standard) to 1.2 pips (VIP) floating or fixed (Live Zero) with/without commissions. Leverage up to 1000:1, 20%/50% stop-out, swap-free options available. All accounts include dedicated account managers, dealing desk support, and 24/5 assistance.

Trading Accounts

For traders who want to try the STP or ECN model, three specilized account options are on offer: No commission, Zero Spread, and Absolute Zero. These accounts provide access to CFDs on forex, metals, indices, and commodities, with a minimum lot size of 0.01. Base currency options include USD, EUR, JPY, GBP, and BTC.

The No Commission account features spreads starting from 0.9 pips without any commission charges. Conversely, the Zero Spread account has zero spreads but includes commissions on trades. The Absolute Zero account combines the best of both worlds, offering zero spreads and no commissions, albeit with a lower leverage cap of 200:1 compared to 500:1 for the other two account types.

Trading Accounts

Trading Platform(s) that IronFX offers

IronFX's trading platforms cater to various trader preferences, offering a range of web-based, mobile, and social trading solutions. The MT4 platform provides advanced functionality, while the WebTrader and Web App offer user-friendly interfaces. The VPS service ensures continuous trading capabilities, and the mobile app allows for on-the-go access. Additionally, the PAMM and TradeCopier features facilitate social trading and strategy copying, providing traders with opportunities to learn from and follow successful peers.

Pros Cons
  • Two platform options: MT4 and WebTrader
  • Limited platform options compared to other brokers
  • MT4 is a widely recognized and popular platform with advanced charting and technical analysis tools
  • WebTrader may have limited features compared to the desktop version of MT4
  • MT4 allows for customization with the use of Expert Advisors (EAs) and indicators
  • No proprietary platform offered
  • MT4 has a large online community where traders can share ideas and strategies
  • Learning curve may be steep for new traders unfamiliar with MT4
  • MT4 is available on desktop, mobile, and tablet devices for convenient access

MetaTrader 4 and WebTrader

  • MetaTrader 4 (MT4) - The industry-standard platform offering advanced charting, technical analysis tools, Expert Advisors (EAs), and customizable interfaces.

  • WebTrader - IRON FX's proprietary web-based platform providing a user-friendly interface and access to various trading instruments.

  • VPS (Virtual Private Server) - Allows traders to run automated trading strategies and EAs on a dedicated virtual server, ensuring continuous connectivity.

  • PAMM (Percent Allocation Management Module) - Allows traders to allocate funds to successful money managers and participate in their trading strategies.

MetaTrader 4 and WebTrader

Mobile Apps:

  • New mobile app (iOS and Android) - IRON FX's newly launched mobile application, enabling traders to monitor their accounts, place trades, and access real-time market data on-the-go.

Mobile Apps:
  • Web App - The next generation, web-based Web Trader app is a powerful app that is easy to use and syncs effortlessly with the MT4 platform.

Mobile Apps

Social Trading Features:

  • TradeCopier - A social trading feature that enables traders to automatically copy the trades of other successful traders, mirroring their strategies and positions.

Social Trading Features

Maximum Leverage of IronFX

Pros Cons
  • Allows traders to increase potential profits with a smaller initial investment
  • High leverage can increase potential losses
  • Provides flexibility to trade larger positions
  • Requires strict risk management and trading discipline
  • Can be suitable for experienced traders with a solid understanding of leverage
  • Inappropriate use of leverage can lead to margin calls and account liquidation
  • Can offer opportunities for diversification and risk management
  • Not suitable for all traders, especially beginners

IronFX offers a maximum leverage of up to 1:30, which allows traders to increase potential profits with a smaller initial investment and provides flexibility to trade larger positions. However, high leverage can increase potential losses, and requires strict risk management and trading discipline to avoid margin calls and account liquidation. Although leverage can offer opportunities for diversification and risk management, it is not suitable for all traders, especially beginners who may not have a solid understanding of leverage. Therefore, traders must carefully consider their risk appetite and experience level before deciding to trade with leverage.

Deposit and Withdrawal: Methods & Fees

IronFX offers a variety of deposit and withdrawal options for traders. Bank wire transfers have no deposit fees, but may be subject to corresponding and intermediary bank fees. Credit/debit card deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals may have fees up to EUR 1.5 per transaction. Skrill and Neteller deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals have a maximum transaction amount of USD 50,000 per transaction and Neteller withdrawals have a minimum fee of USD 1.00 per transaction. DotPay withdrawals have a maximum transaction amount of PLN 200,000 with no associated withdrawal fees.

Deposit

Credit Card/Debit Card Deposit Fees Maximum transaction amount
VISA None USD 50,000 per transaction
MasterCard None USD 50,000 per transaction
Maestro None USD 50,000 per transaction
Bank Wire Deposit Fees
Bank wire Depends on the corresponding and intermediary banks.IronFX does not apply any fees.
Skrill Deposit Fees Maximum transaction amount
USD 50,000 per transaction
Neteller Deposit Fees Maximum transaction amount
USD 50,000 per transaction
DotPay Deposit Fees Maximum transaction amount
PLN 200,000

Withdrawal

Credit Card/Debit Card Withdrawal Fees Maximum transaction amount
VISA up to EUR 1.5 per transaction USD 50,000 per transaction
MasterCard up to EUR 1.5 per transaction USD 50,000 per transaction
Maestro up to EUR 1.5 per transaction USD 50,000 per transaction
Skrill Withdrawal Fees Maximum transaction amount
1% capped to USD 10,000 USD 50,000 per transaction
Neteller Withdrawal Fees Maximum transaction amount
2% capped to USD 30.00 / minimum USD 1.00 per transaction USD 50,000 per transaction
DotPay Withdrawal Fees Maximum transaction amount
N/A PLN 200,000

Educational Resources in IronFX

Iron FX offers a comprehensive educational suite including VIP market analysis, webinars, seminars, podcasts, trading psychology resources, financial news, video tutorials, and an economic calendar. These rich educational resources can potentially help traders seek knowledge enhancement across various topics, strategies, market updates, and psychological aspects of trading, ensuring a well-rounded learning experience for all skill levels.

Educational Resources

Customer Service of IronFX

Pros Cons
24/5 support line No 24/7 support
Email support with response within 24 hours on business days No live chat support

IronFX offers customer care services through email support and a support line that is available to answer calls 24/5. Customers can expect to receive a response within 24 hours during business days when they send an email to the support team. However, there is no live chat support available, and customer care services are not available 24/7. Also, the language support provided is limited, which may be a disadvantage for some customers.

Conclusion

Overall, IronFX is a well-established and regulated online brokerage firm offering a wide range of trading instruments, including forex, metals, indices, commodities, and shares, to its clients. The company offers multiple account types and trading platforms, catering to the needs of different types of traders. It also provides its clients with access to various deposit and withdrawal options, as well as a dedicated customer support team. However, the lack of educational resources and limited research tools may make it less suitable for novice traders. Additionally, the high minimum deposit requirement and relatively high fees may make it less accessible for some traders. Nonetheless, IronFX's strong regulation, multiple trading instruments, and flexible account options make it a competitive choice for experienced traders.

Frequently asked questions about IronFX ( FAQs)

Is Iron FX suitable for beginners?

IronFX can be a decent starting point for beginners. This broker provides educational resources and a user-friendly platform (MetaTrader 4).

Is Iron FX safe to trade with?

IronFX can be safe if you use their entities regulated by UK's FCA, Cyprus' CySEC or South Africa's FSCA. But check forex broker safety ratings before starting.

Does Iron FX offer some unique features?

IronFX offers a social trading platform (“Tradecopier”) to copy experienced traders, potentially helpful for beginners.

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The markets were stunned by gold’s rally in Monday’s Asian session. The spike that drove gold’s price to record high levels tended to underscore the wide volatility characterizing its price action and the possibilities for gold traders. Today we are to discuss the fundamentals that underpinned the rally while also having a look at the challenges laid ahead for the precious metal, and we will be concluding this report with a technical analysis of gold’s daily chart.

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In today’s article, we are going to show you what IronFX looks like. WikiFX conducted a comprehension review on this broker to assist you in better understanding the truth.

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