IronFX

IronFX Review

IronFX is a financial market company that provides forex trading to interested speculators, among other assets. The company has been around since 2010, and it has managed to rack up a couple of awards for its platform and brokerage. In 2014, IronFX won an award for “Best Mobile Platform,” and, that same year, won “Best Forex Broker.” IronFX is licensed and regulated by CySec, with licenses in other countries across the globe.

With IronFX, there are a number of different account options, sizes, and trading specifities from which an interested speculator can choose. Whether you’re an individual or business investor, this award-winning broker has something for you. It also offers multiple platforms from which you can trade, all of which run pretty smoothly.

Tradeable Assets

Though IronFX is best known for its forex trading, it offers several other assets, including precious metals, indices, futures, and shares. For the precious metals (base metals are also available), the brokerage offers best-of-market spreads and spot pricing. IronFX offers CFDs on these spot metals in two currencies: US and EUR. Spot indices and spot commodities are also popular, letting you have easy access to the market and, in the case of indices, no commissions and tight spreads. Futures and shares are two other areas the company specialises in, allowing you to diversify your portfolio as much as possible. And, of course, IronFX lets you trade foreign currencies with tight spreads as low as 0 pips. 24/5, clients can trade 120 different major, minor, and exotic currencies. Clients can also pick their own leverage, ranging from 1:1 to 1:500. Lastly, you can also trade cryptocurrency with IronFX.

IronFX Cryptocurrency Trading

IronFX has joined the line of brokers allowing you to trade in cryptocurrencies, which are extremely volatile and can potentially yield high returns for investors. The crypto available for trade includes Bitcoin, Ethereum, Litecoin, and Ripple. The pairs all have a margin requirement of 20%, though their minimum spreads vary widely. The currencies can pair with USD, JPY, and EUR, depending on your choice.

Account Types

IronFX’s account type selection is another high mark for this company. If you are an individual investor, you can choose from a micro, premium, VIP, STP/ECN, Zero Fixed Spread, or Mirror Account. The micro, STP, and Zero Fixed Spread accounts all require a minimum deposit of $500. The premium account’s minimum is $2,500, and it comes with an account manager. The VIP account minimum deposit is $20,000. The mirror account has lower levels of stop-outs and leverage up to 1:200. The accounts also differ as to which allow you to trade micro-lots, which base currencies they possess, and spread amounts, among other things. If you’re a business or enterprise, you can choose between an affiliate, affiliate plus, business, or managed account, each of which comes with individualised perks and benefits that will suit your business needs.

Regulation

IronFX is regulated by CySec. It is also authorised by Australia’s SDIC and the UK’s FCA, as well as South Africa’s Financial Services Board.

Platforms

Different platforms, including mobile, web, and download, are available to trade on, each with strong software backing. IronFX WebTrader is the web platform, requiring no download or installation. It gives clients access to all the services associated with the IronFX. MetaTrader 4, a download backed by the very popular MetaTrader software, is available that gives clients access to a wider range of tools, indicators, and market information. IronFX Personal Multi-Account Manager (PMAM) is for clients who want all their tools and accounts to come under the umbrella of one master manager. Lastly, IronFX mobile trading is an on-the-go platform, as discussed below.

IronFX Mobile Trading

IronFX’s mobile app won an award in 2014 for its stellar quality. It is available for most mobile devices, including Android, iPhone, tablets, and Blackberry. The mobile trading service offers almost the act same features as the standard web platform; the two are barely distinguishable in terms of content.

Promotions

There is a whole section of the website devoted to contests and promotions. Loyal customers are rewarded at this broker. An example of one of their competitions is for live or demo trading, and, if you win and achieve whichever trade goal IronFX sets, you can pick between either a “supercar” or $150,000 in cash. There is also a VIP account promo that gives VIPs the lowest spreads out of all IronFX clients. An IronFX card is available for ATM use as well, if you meet certain qualifying conditions. These unique promos advantage IronFX in its quest to stand out from other brokers.

Deposit Options

Using the client portal, you can deposit funds into your account through credit/debit card, bank wire, Neteller, Skrill, Fasapay, China Union, DotPay, and mail/telephone order. Deposits usually take three business days to clear, and there are no fees for any methods except for bank wire, and that amount is dependent upon your bank. There are different limits for deposits for each payment method, so make sure you know what the maximum you can deposit for your chosen method is.

Withdrawal Methods

At IronFX, you can withdraw funds if you have open positions on your platform. Your margin needs to exceed the amount you want to withdraw. Withdrawal of profits can only be done using bank wire transfer.

Customer Support

Customer support includes telephone and email. There is also a fax line for certain inquiries, and the brokerage has brick-and-mortar locations in four different major cities (London, Sydney, Johannesburg, and Limassol). There’s also a live chat option.

Ease of Use

IronFX’s website is easy to use and well-laid-out. Everything is clearly labelled, and there isn’t any confusion with how to manoeuvre around the site. IronFX makes things clear for customers, particularly when it comes to pips, spreads, and leverage, as well as the different limits and fees associated with deposit/payment methods. Between the clear site, smooth-running platforms, and many customer service resources, the company gives customers a reliable, easy-to-use trading system.

Why Trade at IronFX

IronFX is fully licensed and regulated, and it is a premier forex broker. Furthermore, the brokerage offers many different assets at tight spreads, giving clients some of the best deals in the market. IronFX is award-winning, and it has a lot to offer traders at every level, particularly those who want a lot of different options when it comes to picking an account type.

To see how IronFX ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.