IronFX Broker Review 2018
IronFX does not accept new customers from US.
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- US Traders
- 83+ Pairs
- 1 Day Payouts
- Mobile Friendly
- Low Deposit
Launched in 2010 by a larger company that has been established since 1972, IronFX are committed to offering a personalised service to their many clients across the globe. With a clear company vision and mission to provide a high level of service, using only the best financial products, they have built the platform to offer what traders need.
As well as the choice of 10 trading platforms, there are a number of accounts to choose from. From the novice trader to the high net worth investors, there is something for everyone. For those who want to trade but have no access to the internet, they have live operators on standby and they claim to offer best of market spreads.
While on the surface, this broker seems to tick all the boxes it can be difficult to know what makes them stand out above the others. Are the claims that they make substantiated and what do they offer? We have carried out an extensive review of this broker to ensure that the information we present to you helps you to make your choice.
Are you considering opening an account with IronFX? In this review you will discover:
- Everything about the company including their licensing and regulation
- The different account types and the various trading platforms on offer
- What, if any, special trading features make this broker stand out above
There are a great deal of account types all offering different benefits and different experiences. The standard accounts include the Micro, Premium and VIP Accounts. While these might suit the more traditional Forex trader there are also others to consider:
The deposit required to open a Micro Account is $100. In return, you get to trade in 10 base currencies, trade in micro lots and choose fixed or variable spreads with leverage from up to 1:200.
A Premium Account requires a greater deposit of $2,500 and gives you the same benefits of a Micro Account with the addition of a dealing department hotline transaction.
For those who like to invest more, the VIP Account requires a deposit of $20,000 and offers additional benefits to the Micro and Premium Account.
Absolute Zero Account
This account is available in USD and EUR and offers spreads from as little as 0 pips.
9 base currencies available to trade, spreads from 0 pips and flexible leverage from 1:1 to 1:200. A deposit of $500 is required.
Zero Fixed Spreads Account
Minimum deposit requires is $500 and max. Leverage can be 1:100 when account leverage is 1:500. You can trade in micro lots.
The Mirror Account is a lower risk, total return strategy. You can enjoy lower stop-out levels and get instant internal transfers with greater leverage up to 1:200.
Absolute Zero Plus Account
Spreads from as little as 0 pips, leverage of up to 1:200 with up to $10 IB commission can be enjoyed with the Absolute Zero Account.
In addition to the extensive choice of live trading accounts you can also take advantage of the IronFX demo account.
Trade Features And Payouts
What will you find trading with IronFX in terms of payouts, leverage and other platform features?
The amount of leverage that you can use is up to 1:200. This does vary depending on the type of account that you choose but generally is the figure associated with most types of accounts.
You can choose from fixed and variable spreads with most types of accounts and IronFX claim to have best of market spreads. The spreads start from as low as 0 pips but these tend to be reserved for the higher investors.
If you want to limit your losses, Stop Loss allows you to set a limit on each trade. This means you don't have to be sat in front of a screen to exit a trade. Simply set the point at which you wish to exit the trade.
There are a number of trading platforms to choose from. Many of them are based around the MetaTrader4 platform and there doesn't seem to be the option to use the MetaTrader5 as with many brokers. The MT4 is great for those of you that are new to trading as it allows you to have a minimalistic view of the platform without too many charts, graphics and data. The following platforms are available:
Simply choose the platform, or platforms that you wish to use which will largely depend on the device you are using.
Latest Winning Payouts
Bonuses And Promotions
Often you will find that brokers offer a bonus to encourage you to sign up with them. This isn't the case with IronFX. They do offer benefits to their VIP Account holders though and they also offer a range of contests. The contests that you will find involve both the live trading platforms and the demo platforms.
The demo contests can be used by anyone that opens a new demo account and are great for winning money without risking your own capital. They also give you a good chance to practise trading. In fact, you can turn your virtual funds into cash prizes of up to $30,000. The contests are not running all of the time so you will need to check details of the next one.
Without a decent mobile offering a broker simply cannot compete. Many brokers offer a trading platform specifically designed for mobile devices and IronFX is no exception. Using the MT4 trading platform they have built an offering for both mobiles and tablets in both iOS and Android.
All you need to do is visit the App Store or Google Play and download the recent app. If you have a mobile device you can then trade on the go. If you are stuck without access to the internet you can use one of their live operators who are on standby to execute trades for you.
Deposits And Withdrawals
IronFX accept all the usual methods of funding your account including Visa, Mastercard, Neteller, Skrill, Union Pay and Wire Transfer. While some funds will be available immediately, Union Pay and Wire Transfer may take a bit longer to clear.
IronFX also offer a prepaid Mastercard that you can use to deposit funds and make withdrawals. While there are no fees for using the card, there may be a currency conversion fee. Withdrawals from your trading account will be sent back to the same source of the deposit although depending on the type of deposit account, funds make take longer to process for some accounts.
What sets apart brokers from the competition are usually the special features that they offer. What do they do that makes them different to all of the other Forex brokers? Well in today's trading environment it can be quite difficult to be unique however there are some special features offered by IronFX:
Expert Broker Reviews
There are many ways in which to get in touch with the support team, the most prominent of which is the live chat button. When you visit the website, the live chat box will automatically pop up to see if you need any assistance. If you prefer not to see it, you can minimise it.
In addition to this there are various contact numbers, email addresses and support is available in 30 different languages. IronFX take their commitment to customer service seriously and also include a link in a prominent position to their complaints procedure. There are also social media links should you feel the need to publicly complain.
Apart from no obvious deposit bonus, this broker seems to tick all of the boxes for both new and experience traders. Their trading platform is strong and suitable for all levels of traders. They have a number of account options to choose from and they offer plenty of useful insights into the world of Forex trading.
They have a number of special features and offer competitive spreads. If you need to get hold of someone, their customer support team are contactable in a number of ways and they seem committed to their mission to provide a personal service to their clients. With licensing and regulation from some of the world's most recognised financial regulators they are definitely one to consider.
Reviewed by: ForexTradingExpert.net
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Frequently Asked Questions
Is IronFX legit, will they scam me?
Having licensing and regulation from bodies like the FCA, CySEC and ASIC make this broker a trusted and reliable choice for investing. In addition to this there are so many ways to get in touch as well as a comprehensive complaints and dispute procedure. Having been established since 2010, and with a global following, there is no reason to suggest there is anything untoward about this broker.
Do they have a decent mobile or tablet app?IronFX are committed to providing a personal service to their customers and have made sure their trading platform is accessible on all devices. Whether you have a mobile phone or a tablet and whether it is iOS or Android, there is an app to suit. You can also choose to trade from the web function on your mobile phone as the website is fully responsive. If you can't get on to the internet you can still trade with the support of their live operators.
What bonus do they offer for new traders?
There isn't a specific bonus offered at the time of this review however many Forex brokers operate timed bonuses. It is worth checking out their promotions to tab to see what they are offering. They do however run contests on the both the live platform and the demo platform. If you are using the demo platform this is a good way to practise your trading skills before you commit your own funds.
Can I start trading on a free demo account?
There is a demo account available to all traders and you don't have to stick to just the one account. The broker also offers demo contests. Trade with virtual funds and win real cash! These contests are great for those who want to sharpen up their trading skills without investing a fortune and do lead to real cash prizes of up to $30,000. To sign up for a demo account simply enter your details and you are good to go then keep your eye out for contests.
What's the min. deposit and ideal trade amount?
There are a number of deposit amounts required which depend on the account type you open however it seems that $100 is the lowest you can deposit in return for a Micro Account. When it comes to how much you should trade it is recommended that you should invest 1% of your balance. If you deposit $100 then each trade should be $1. This is a good idea for those who are new to trading as it minimises the risk.