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IronFX: Review, Analysis and Complete Guide

IronFX is an online broker with a special emphasis on Contracts for Difference or CFD trading, and offers more than 200 trading instruments and the main currencies on the Forex market.

With offices in more than 20 countries, IronFX offers the possibility of investing in indices, commodities, metals, stocks, futures, currency pairs, and has recently incorporated crypto-currencies such as Bitcoin and Bitcoin Cash.

This variety of underlying assets allows you to diversify investments across the major platforms used worldwide and from multiple navigation devices for secure investing.

We will now explain the different features of this online broker that will allow you to decide if this is the right broker for your investments in CFDs, Forex, crypto-currencies such as Bitcoin or Ethereum and all other available options.

IronFX Pros and Cons

Pros

  • Good offer of CFDs.
  • Good trading platforms.
  • Welcome bonus: 35 euros free.
  • Compensation fund.
  • Customer service.

Cons

  • Delayed retreats.
  • Scarce educational resources on their website.

IronFX Financial Products

IronFX offers a wide range of financial products for investing, such as trading in Forex, metals, indices, commodities, futures and stocks, and the latest addition of crypto currencies such as Bitcoin.

Stocks and Financial Products

Forex: More than $5 trillion is traded daily in the Forex market with currency pairs. The most common pairs are EUR/USD, USD/JPY and GBP/USD.

At IronFX you can access the Forex market 24 hours a day, except on weekends, with exclusive news, online rates and technical analysis from experts that will enable you to make better decisions when trading in the Forex market.

The IronFX website provides accurate data on: spreads, leverage levels, swaps and contract details for all tradable currency pairs in the Forex market.

Productos financieros de IronFX

Spot Metal CFDs: At IronFX you can trade gold and silver with spot execution. This type of trading is similar to currency trading in the Forex market where investors take short or long positions on metal prices.

This is an ideal field to start with a demo account and test trading strategies before investing in the real world. This will limit your risk exposure and make your subsequent trading safer.

The broker’s website provides accurate data on: swaps, spreads, and contract details for CFDs on metals.

CFDs on spot indices: IronFX allows CFD trading on indices with a very low margin (1%). Traders benefit from these investment opportunities because they trade in the global market with higher volatility compared to other financial instruments.

IronFX provides the ability to trade UK100, NASDAQ and Germany 30 on the MT4 platform ensuring direct access to the best trading environment for investing.

The IronFX website provides accurate data on: trading conditions, swaps, and index CFD contract details.

Spot Commodity CFDs: These trades offer an opportunity to invest at very low cost, with greater leverage and profit potential. In addition, IronFX offers a trading environment that could help increase the variety of trading strategies for trading.

The average margin for the total contract value is about 5-10%, which is much lower than for other asset classes. In markets with higher liquidity and low inflation, this asset class is very attractive to invest in.

It is possible to trade oil, coffee and sugar on IronFX with tight spreads and lower commissions. The IronFX website provides accurate data on: trading conditions, contract details and swaps for spot commodity CFDs.

CFDs on futures: these contracts allow you to earn margin prices prior to a specific future closing date. The greatest advantage is the ease of entering this market and the rapid execution of transactions.

At IronFX it is possible to take advantage of a wide range of trading products and diversify your investment, whether trading in an equity index or any other futures instrument, using one of the available trading platforms.

It is possible to operate coffee, natural gas and Eurodollars in operations with instantaneous execution and without reconnections. The IronFX website provides accurate data on: swaps, contract details, trading conditions and futures trading.

Stock CFDs: IronFX allows you to trade stocks by taking “short” or “long” positions on a specific stock. Similar to futures and other commodities, there is no need to take a real stake.

These operations require a minimum investment and a simple operation. The most reliable assets are long term positions. The high liquidity of these assets guarantees the possibility of buying and selling quickly.

Today the most popular actions are those of Lloyd’s, Apple and Google. The IronFX website provides accurate information on: trading conditions and contract details.

Crypto currencies

IronFX has its own in-house crypto exchange “IronX Exchange” where it is possible to trade the following crypto currencies: Bitcoin, Ethereum, Litecoin and Ripple. User feedback sees this addition as very positive.

Clients can have their own crypto account (e.g. at Bitcoins) and benefit from all the advantages of IronFX.

Traders can trade these crypto-currencies directly on the Metatrader platform with margins of up to 20%. In addition, two of the IronFX accounts can have Bitcoin as their base currency.

Tipos de cuentas de Trading en IronFX

The leverage of crypto-currencies like Bitcoin is 1:5 and it is possible to deposit, trade and withdraw in crypto-currencies like Bitcoin or Ethereum. In IronFX it is possible to Trade several cryptosystems including Bitcoin, Ethereum, ADA and IRX with leverage options.

Forex trading with crypto currencies through IronFX has the following features:

  • Insurance
  • Easy conversion between currencies
  • Multilingual Support Team
  • Access to the Forex market with the highest possible liquidity
  • Platform that allows detailed market analysis

Unique Programs

IronFX Introducing Brokers Program:

This program allows those just starting out in the world of financial investments to associate with a strong broker and benefit from commissions. In this way the trader will be able to take advantage of exclusive packages with high returns.

It will also have other advantages such as:

  • Flexible leverage up to 1:1000
  • Attractive welcome bonus
  • Online trading competitions with excellent prizes
  • Exclusive marketing materials

IronFX Affiilates Program:

The goal of this program is to promote IronFX services and get new customers to open an account and deposit funds, through affiliates who can use various marketing tools to attract customers.

The program offers its members an excellent commission system through which the affiliate receives a fixed, one-time payment for each referred trader who opens an account with IronFX and deposits funds to invest.

Both the registration and the use of the marketing tools are completely free of charge, which means that at no time will the associate have to make any payment. However, you must open an account with IronFX to receive payment of your commissions.

IronFX “White Label” program

This is a program developed by IronFX’s internal team for financial institutions and individuals looking to grow their online retail business.

The tool offers a secure competitive trading environment with an advanced financing structure. The client has an assigned account manager available throughout the implementation of the program.

IronFX offers access to a liquid group and a pool of risk management and analysis experts in a secure environment.

How to Open an IronFX Account

Opening an IronFX account is very easy and is done in three simple steps. First you fill out a registration form with personal information such as email, first and last name and phone number.

After registration, in the next step, the broker asks for more personal data, financial situation and trading experience. Next, the account type, base currency and leverage level must be selected. Finally a username and password are selected.

In the next step, the broker requires proof of identity and residence. After accepting the IronFX conditions, the application and documentation is sent for review. Once the account is validated, it is possible to start investing.

IronFX offers a wide range of accounts. One of the most basic is the “Micro” account with zero spread but high commission rate, where the investor cannot choose between fixed or variable spreads.

Cómo abrir una cuenta de trading en IronFX

In addition, it offers the Premium and VIP. These accounts are available in the following currencies: USD, EUR, JPY, GBP, AUD, CHF, PLN, RUB, HUF, with the exception of the VIP account, which can only be traded in USD. Finally you have STP accounts, which can be either commission or spread accounts.

Requirements and verification

The Micro account requires a minimum deposit of $100 and is available in 10 base currencies: USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, CZK and HUF. For Premium and VIP accounts a minimum deposit of USD 2,500 and USD 20,000 respectively is required.

To open an IronFX account, verification of the client’s identity and residence is required. To do this, it is necessary to send the identity document and a document certifying the address of residence via the web.

The validation of the account is quick, it only depends on the time and day when the process is started. In case the validation is positive, IronFX will send a confirmation email, or request supporting documentation.

Demo Account

IronFX offers the possibility of testing its platform through a free demo account for an unlimited time. Thanks to this type of account some traders can implement trading strategies and feel more secure, especially in the world of Forex and Bitcoins…

In fact, the demo account allows you to learn how the Forex market or stock market works. With the IronFX demo account you can trade all types of underlying assets (shares, indices, currencies, commodities, cryptosystems such as Bitcoin or Ethereum, etc.)

IronFX offers trading competitions using the demo account with the aim of intensifying trading actions and obtaining prizes.

Available Countries

IronFX serves clients in over 180 countries in Europe, Asia, the Middle East, Africa and Latin America where they can safely invest.

IronFX does not operate in countries such as the United States, Cuba, Iran, Syria, North Korea and Sudan due to certain local restrictions.

How to Use IronFX

IronFX offers the possibility of trading with 4 trading platforms: (MT4, PMAM, Webtrader 4 and MT4 MultiTerminal), either through Windows or MAC. In addition, MT4 can be downloaded for free from the IronFX website for mobile devices and Tablets (iOS and Android).

Desktop Platform

MT4’s Webtrader trading platform is online and has been internally adapted to work for IronFX. It can be used from any terminal and operating system. Users’ feedback values this adaptation.

Its interface is composed of a top bar from which the main functions are accessed, a bottom bar with more specific tools such as creating charts or opening positions in the Forex market.

It also has functions to study the assets with their respective purchase and sale prices, adjust parameters and obtain various information. Furthermore, from here you can directly access MetaTrader 5 for desktop.

In IronFX it is possible to manage several MetaTrader 4 accounts simultaneously, for which the Personal Multi-Account Management (PMAM) version is available.

Plataforma de Trading online segura

Mobile Platform

In IronFX, the MT4 platform is available for download from mobile devices and tablets (iOS and Android).

IronFX platforms are available for Blackberry Trader, MT4 iPhone Trader, MTS Android App, MT4 Android App, MT4 Mobile Trader, Smartphone Trader, MTS iPhone Trader mobile phones.

Research and Visualization Tools

According to some users, the “Market Research” section of IronFX is quite insufficient and outdated. Customers receive market news via email, in addition to appearing on the website.

In addition, IronFX offers the following tools, which are highly valued by users:

  • Workbench: this tool gives the trader an overview of the market situation at a certain point in time and of their trades for better performance.
  • Margin Calculator: This tool is used to calculate exactly how much margin you need to have in order to maintain an open position, without running the risk of automatic closures and monitoring that the account balance is not exceeded.
  • IronFX Research App: this tool is a free, customised IronFX application that sends the trader real-time financial information via videos, charts, alerts, and more.

IronFX Deposits, Withdrawals, Fees and Limits

Deposit Methods and Minimum Deposit

The deposit methods accepted by Ironx are: bank transfer, Neteller, Skrill, Fasapay, China Union and DotPay. In addition, IronFX has a system for making offline deposits through a phone call.

The IronFX customer portal allows deposits and withdrawals using a simple, easy-to-use interface. Deposits can take up to 24 hours to process depending on the method chosen. Wire transfers can take up to 3 business days, depending on the bank.

The currencies you can deposit in depend on the payment method you choose. The main currencies are USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB and HUF. Deposits in different currencies will be converted to the base currency at the current rate.

The IronFX Micro account requires a minimum deposit of $100 and is available in 10 base currencies: USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, CZK and HUF. Premium and VIP accounts require a minimum deposit of $2,500 and $20,000 respectively.

Withdrawal Methods

Withdrawal methods at IronFX are the same as deposit methods. Please note that before you can make a withdrawal your identity must be validated and your residence for the last six months verified.

At IronFX it is possible to withdraw funds if the trader has open positions on his platform, taking into account that free margin must exceed the amount specified in the withdrawal instruction. The trader will not be able to make a request if he does not have sufficient funds.

The customer portal allows deposits and withdrawals using a simple and easy to use interface. Profits can only be withdrawn via bank transfer. All excess funds or winnings will be sent to your bank account.

Fees and Commissions

IronFX does not charge a fee for deposits or withdrawals. However, banks or payment providers may charge additional fees. This broker also does not charge fees for account maintenance or inactivity.

This operator has an automatic risk management and monitoring system that prevents negative balances in the account and therefore no more debts will be generated for the trader.

Tarifas y comisiones de trading online

Limits

IronFX offers a number of features that are very useful in managing irrigation, including stop losses and limit order. This allows you to trade more safely.

With stop-loss the trader can limit losses when trading with an open position. Many traders use this feature to protect themselves from losses unless the trade is covered by another trade or there is no leverage.

Is IronFX Safe?

Although recently, according to some users’ opinions, there have been delays in the withdrawal process, we can say that IronFX is a safe broker.

This is because, in addition to being regulated and belonging to a compensation scheme, the funds deposited by its clients are deposited in segregated bank accounts, so they cannot be used or seized by any creditor of the company in the event of a possible bankruptcy.

We also say it is safe because IronFX is subject to compliance with the most stringent investor protection regulations such as the MiFID (Markets in Financial Instruments Directive). This makes it a safe and reliable broker.

Regulation

The website is owned by Notesco Limited, a company registered in Bermuda under number 51491. It is also regulated by the following entities: FCA (Financial Conduct Authority), AFSL (Australian Securities and Investment Commission) and the CySEC (Cyprus Securities and Exchange Commission) under registration 125/10.

It is also regulated by some financial regulatory authorities in Europe such as the Authority for the Financial Markets in the Netherlands, the Autorité des marchés financiers in France, the Czech National Bank in the Czech Republic and the Comissão do Mercado de Valores Mobiliários in Portugal.

Other authorities include the Finnish Finansinspektionen, the Polish Financial Supervision Authority, the Italian Commissione Nazionale per le Società e la Borsa, the Hungarian Financial Supervisory Authority, the German Federal Financial Supervisory Authority and the Spanish CNMV.

Even though some users have noticed irregular situations in their withdrawals, all these regulations support the broker’s situation and make their responsiveness and return of funds a little more secure.

Compensation Scheme

IronFX is registered with the FCA and therefore protected by the Financial Services Compensation Scheme. This means that the money deposited by each client is covered up to £50,000.

This coverage is assigned only for the money the client has in the account without investing, but does not cover the client’s investments that are his responsibility.

Customer Service

Customer service is available via email with a response within 24 hours if it is a business day. It is also possible to contact by phone 24/5 or by call back.

This broker offers live chat 24/5. To access it is necessary to complete a form with name, email, account number if you are already a client and the reason for the query.

The customer service is available in more than 30 languages and, according to the users’ opinions, it is a quite efficient service and the attention is dedicated.

IronFX Reviews

Next we will bring you the opinions of some users who are already operating or have been clients of this broker. These reviews will also help you decide if IronFX is the ideal online broker to invest your money.

Among the different opinions of users, Carla N. said: “IronFX has excellent coverage in the Forex market and in Bitcoin trading, and it’s also one of the few online brokers to have a welcome bonus.

Another opinion was that of José R. who stated: “I have worked with them for years and never had any problems, but in the last few months I have not been able to withdraw my funds. I am concerned about the situation.”

In addition to these opinions, Julia D. commented: “I value customer service and availability. I’m pleased with the addition of cryptodivisions they’ve made in recent years and their advice at Bitcoins was excellent.

Finally, one of the opinions given by another user was that of Carlos K. who expressed: “I am happy with IronFX. It doesn’t charge commissions and the platforms work perfectly in the apps”.

IronFX Alternatives and Competitors

If after reading all the features and reviews about IronFX you still need to know the reviews about other service options, you can also choose from other brokers. Currently, there are several companies offering the online broker service.

Here are some reviews from other brokers so you can rate and compare features and opinions:

Our Selection Best Broker Forex - 2020

1

Our Choice

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Free

No minimum deposit

2

Best Forex Broker

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Free

No minimum deposit

3

Best for Funds

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Free

No minimum deposit

4

Best for Bonds

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Free

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5

Best for CFDs

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Free

No minimum deposit

Conclusion

IronFX is a complete online broker, with a wide range of products, crypto-currencies such as Bitcoin and Ethereum and very attractive special programs. We must also highlight the number of accounts for all levels of traders.

However, attention should be paid before investing in this broker because there have been several complaints from users who have not been able to withdraw their funds. In any case, it is a safe broker and the number of entities that regulate it gives you peace of mind.

This operator offers good customer service with a variety of communication channels and in several languages, which facilitates the most direct contact with the customer.

IronFX Datasheet and Features

Main Features IronFX
VPN
Countries where it is regulated 180
Price Free
View offer
Minimum Deposit $100
Time to open account 1 day
Available currencies 30
Available products
Withdrawal fee $0
Inactivity fee 1
Trading Rates Low
Bank card deposit
Deposit with electronic wallet
Demo account available?
Easy to use platform?
View offer

IronFX Frequently Asked Questions

🔥 What is IronFX?

IronFX is a secure online broker with a special emphasis on Contracts for Difference or CFD trading, offering over 200 trading instruments and the main currencies on the Forex market. It operates with crypto-currencies such as Bitcoin through its own exchange house IronX.

➕ How does IronFX work? How can I use it?

You can start by using a live or demo account, through the wide variety of trading platforms offered by IronFX, from Windows or Mac computers, mobile phones or tablets. The most popular platforms are MetaTrader 4 (adapted to the broker) and the new MetaTrader 5.

✨ How to Sell on IronFX?

IronFX offers a wide range of accounts. One of the most basic is the “Micro” account with zero spread but high commission rate. In addition, it offers Premium and VIP accounts. All of them are available in various currencies. Finally there are STP accounts, which can be either commission or spread accounts.

➡ How to Make Money on IronFX

IronFX offers a wide variety of financial products for investing and making profit, such as trading in Forex, metals, indices, commodities, futures and stocks, and the latest addition of cryptosystems such as Bitcoin.

⭐Is IronFX Secure?

Although recently, according to the opinions of some users, there have been delays in the process of withdrawing funds, we can say that IronFX is a safe broker because, in addition to being regulated and belonging to a compensation scheme, the funds deposited by its clients are deposited in segregated bank accounts.

✅ Is IronFX regulated?

The website is owned by Notesco Limited, a company registered in Bermuda under number 51491. It is also regulated by the following entities: FCA (Financial Conduct Authority), AFSL (Australian Securities and Investment Commission) and the CySEC (Cyprus Securities and Exchange Commission) under registration 125/10.

IronFX User Experience and Feedback

Have you used IronFX services before? Would you recommend it? Tell us about your experience using an IronFX service in the comments.

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