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IronFX Review

IronFX is an award winning online trading brokerage that serves both retail and institutional clients from over 180 countries and provides support in over 30 different languages.

IronFX review
Overall
InvestorGreg upholds the most rigorous standards for testing of brokers. We may receive compensation for advertising or for links that feature inside our reviews. Learn more about our methodology and review process.

Introduction

IronFX is a highly reputable and very well-established online trading brokerage that provides traders with 10 different trading platforms and over 200 tradeable instruments across the global markets. IronFX is based out of Cyprus with their headquarters located at 2, Iapetou Str., Agios Athanasios, 4101 Limassol, Cyprus. Also, due to IronFX’s international presence, the brokerage has 3 other global offices located in London England, Sydney Australia, and Johannesburg South Africa.

The IronFX brokerage is very accommodating to different types of traders of all experience levels. They provide more than enough trading platforms, tools, and resources to benefit all traders and help them to become better and more successful traders. All in all, it’s hard to see anything wrong with the IronFX broker, but what exactly makes them so great and what kind of trading services do they provide? Find out in our in-depth IronFX Broker Review where we delve deep into all aspects of this lucrative trading brokerage and lay out the results for your viewing.

Overall Rating

Products & Fees
5
Security
5
Tools
5
Desktop Experience
5
Mobile Experience
5
Banking
4
Customer Support
5
Education
4

Pros

  • Excellent Trading Platforms

    Traders can choose from a wide array of sophisticated trading platforms that accommodate the needs of every kind of trader.

  • Wide selection of Tradeable Assets

    IronFX traders have full access to more than 200 financial instruments across the global markets.

  • Highly Regulated and Reputable

    IronFX is licensed and regulated by 4 different authorities and has an impeccable reputation.

Cons

  • Fees & Commissions can be high

    For the smaller trading accounts, the fees and commissions can be high.

  • No Spread Betting

    IronFX does not offer spread betting as part of its product lineup.

The IronFX customer-centric model combines bespoke trading functionality through its platforms with the widest suite of products to offer the best pricing, execution and liquidity.

Commissions & Fees

The spreads and commissions imposed on traders at IronFX vary greatly depending on the account type and trading volume of the trader. Overall, the average commissions are higher than industry standards for smaller account sizes but are very favorable for larger accounts. For instance, for the EUR/USD forex currency pair, the minimum floating spreads are 1.1 pips for the Micro Account, 0.7 pips for the Premium Account and 0.5 pips for the VIP Account. As you can see the spreads decrease significantly with the larger accounts.

Also, the spreads and commissions vary between account types. Traders can choose from accounts with floating spreads and commissions, fixed spreads and commissions, fixed spreads with zero commissions, no commission STP/ECN, zero spread STP/ECN, and absolute zero STP/ECN accounts. Therefore, traders have many options to choose from and can choose the account with the fee structure that best suites them and their trading needs.

Commissions & Fees
Stock
Forex Spreads
Futures
Metals
Cryptocurrency
 
IronFX
Spreads from 0.3 pips, commissions of 0.10%
From 0.5 pips
Spreads from 0.5 pips
Spreads from 0.04 pips
Spreads from 100 pips
Binomo
N/A
N/A
N/A
N/A
N/A
HYCM
Spreads vary
Spreads from 0.2 pips
N/A
Spreads from 30 pips
Spreads at 70 pips
More HYCM fees
PaxForex
Spreads from 5 pips
Spreads from 0.4 pips
N/A
Spreads from 50 pips
Spreads from 95 pips
Interactive Brokers
$0.005
0.20 basis points
$0.85 per contract
0.15 basis points
$5 per contract
Webull
Commission Free
N/A
N/A
N/A
N/A

Platform & Tools

IronFX provides their traders with the most practical, powerful, and efficient trading platforms and tools. Traders can choose from the entire suite of MetaTrader 4 (MT4) platforms including the desktop, WebTrader, and the Multi-Account Manager (PMAM) trading platforms. The MT4 trading platform is very advanced and well suited for experienced traders who require all of the tools and features needed for conducting in-depth technical analysis and executing highly sophisticated trading strategies. The MT4 platform is also intuitively designed to accommodate the needs of beginner traders as well, especially with the web-based version of the platform. All in all, traders of all kinds are sure to be satisfied with trading platforms and tools featured at the IronFX trading brokerage.

Platform & Tools
Desktop Platform (Windows)
Desktop Platform (MacOS)
Web Platform
MT4
MT5
Research & Analysis
Social trading
Education
Demo account
 
IronFX
Binomo
HYCM
PaxForex
Interactive Brokers
Webull

Mobile App

The MetaTrader 4 platform is not only available for desktop computers but mobile devices such as smart phones and tablets. Traders can download the MT4 mobile trading app for free from the Apple App Store and the Google Play Store for their iOS or Android mobile device. Also, the platform can be downloaded from the Windows store for Windows mobile devices as well. The mobile platform is fully optimized for the small screen and supports most of the same tools and features as the desktop platforms. Traders can manage their portfolio and conduct basic technical analysis directly from their phone or tablet.

Account Types

IronFX does their best to accommodate all types of traders by offering an array of trading accounts to choose from. Each account offers a slightly different approach to trading the financial markets by offering a different spreads and commission structure among other things.

See the different accounts and their minimum deposits listed below.

Micro Account

  • Minimum deposit: $100

Premium Account

  • Minimum deposit: $2500

VIP Account

  • Minimum deposit: $20,000

Absolute Zero Account

  • Minimum deposit: Contact Account Manager

STP/ECN Accounts

  • Minimum deposit: $500

Zero Fixed Account

  • Minimum deposit: $500

Mirror Account

  • Minimum deposit: Contact Account Manager

Absolute Zero Plus Account

  • Minimum deposit: Contact Account Manager

Deposits & Withdrawals

IronFX offers an array of deposit and withdrawal options for their traders to choose from. All deposits are free of charge and arrive in the clients account nearly instantly. As for withdrawals all funds must be withdrawn via the same method as deposited up to the amount that you initially deposit. After that, all profits must be withdrawn via bank wire transfer.

See below, the available deposit and withdrawal methods.

  • Visa
  • MasterCard
  • Maestro
  • Bank Wire Transfer
  • Skrill
  • Neteller
  • FasaPay
  • China Union Pay
  • DotPay
  • MOTO
Deposits & Withdrawals
Minimum deposit
Withdrawal Time
Withdrawal Fee
IronFX
$100
1 - 5 business days
Free
Binomo
$5.00
Within 3 business days
Free
HYCM
$100
1 - 7 business days
Free
PaxForex
$10
Within 1 business day
Varies
Interactive Brokers
$0
3-5 days
$0
Webull
Zero
2 business days
$45 (International Wire)

Customer Support

The customer support provided by IronFX is exceptional. Traders can contact support representatives 24 hours a day, 5 days a week via phone, email, and live chat. As well, traders can interact with support reps via the brokerages various social media channels including LinkedIn, Twitter, Facebook, Google+, Instagram, and YouTube. Additional methods of support include an extensive FAQ page and education centre.

Security & Fairness

IronFX is an industry leader when it comes to broker security and they have an impeccable reputation in the online trading industry. IronFX is licensed and regulated by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Board (FSB) in South Africa, and the Cyprus Securities and Exchange Commission (CySEC). Therefore, IronFX is highly regulated and thus employs the best security measures and maintains a fair and transparent online trading environment. Also, IronFX holds their client funds in secure and segregated tier 1 bank accounts such as Westpac, Barclays, Santander, Unicredit, BNP Paribas, and other world-class banking institutions. To further protect their clients and their personal information, IronFX employs the latest and greatest security technologies such as advanced SSL (Secure Socket Layer) encryption technology and routine security checks. All in all, IronFX is a very secure, fair, and transparent online trading brokerage.

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IronFX User Reviews

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