If you are new to trading online, then you will be pleased to find a demo account option. This can be the perfect way to get used to using the platforms and for testing your trading strategies in a risk-free environment. This is not something exclusive to this broker, you will find most have a demo account available. For some of its account types, including the Standard and Premium accounts, IronFX BM offers Bitcoin denominated accounts (as well as fiat currency accounts) which may be funded and withdrawn from in Bitcoin. Additionally Ethereum (ETH) denominated accounts are available as well as accounts denominated is Cardano (ADA).
Several pages not properly linked to the main site announce the availability of cryptocurrency trading but our reviewer found no contract, spread, or fee information. If you prefer a fixed spread for your trading strategy then you could consider a no commission account. These tend to have higher marked up spreads but you do not pay a commission on trades. It is actually quite rare to find a broker that has fixed spread account which is often a choice for traders who are running scalping strategies that need consistent spreads at all times.
In this light, traders will have to do their homework and check spreads for all instruments that they are trading. Depending on individual preferences, IronFX will be a good deal for some traders, while others (like traders who are focused on Oil, Dax, and Dow) may want to check other options. Traders have eight account options at IronFX, where the minimum deposit is $100 for most. The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
Hi Hamedah,We are sorry to hear about your negative experience with our customer service and your deposit issue. We take all complaints very seriously and would like to investigate this issue further. Available instruments include forex pairs, commodities, indices, stocks, and cryptocurrencies. The number of available forex pairs, commodities, and indices is high, while the number of available stocks is medium. It should be noted that the broker lacks written analysis and trading ideas.
Also, there are many videos and tutorials available on the web in case you have questions about certain features of the app. IronFX has a 3% “no trading” fee, which is applied in case the trader deposits and withdraws funds without ever making a trade. There is no inactivity fee, so your account will not be charged if you are not trading for several months after making your previous trade. Iron Fx offers MT4 trading platform available as desktop, mobile or web trader versions.
IronFX incorporate advanced order execution with a vast amount of liquidity from liquidity providers (LP’s), low fees and competitive spreads (from just 0 pips) and 24-hour multilingual customer support. The broker was setup way back in 2010 and is part of an established international financial group that was formed in 1972 which provides a high level of trust and confidence to clients due to its longevity. They take a customer focused approach and are committed to providing the highest standard of services with full transparency to clients. Each client is treated with the upmost esteem and as a valued partner. IronFX customers are able to benefit from over 200 trading tools, very tight spreads and perfect trading conditions ensured by “One Account, Fifteen Platforms” feature.
For the purposes of this review, we found the customer support responsive but uninformed. They were unable to answer many of our questions and seemed generally confused. IronFX’s blog content is curated by IronFx’s in-house analysts and is updated frequently.
- The cornerstone of the content is live weekly webinars, which are available in several languages, including English, Spanish, Portuguese, Farsi, and Italian.
- IronFX’s trading fees are significantly higher than most other brokers, and it has a complicated account structure.
- Negative balance protection means that clients cannot lose more money than they have in their accounts.
- In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing.
- It asks for name, e-mail, phone number, country of residence and knowledge and experience.
There are no withdrawal fees for all options except for wire transfers under $300, but clients’ payment providers may charge such fees. MT4 offers customizable watchlists and charts, which could be tailored to traders’ needs. The trading platform also provides copy trading and automated trading features.
Is IronFX a regulated broker?
IronFX offers Metatrader 4 and 5 but no dedicated or proprietary trading platform. Social and copy trading options are limited, with no dedicated third-party platform. They do offer a Mirror account, but that’s a hedging tool, not a social trading interface. The website Trader’s Dashboard shows the positioning of other clients, updated hourly, but account holders will need to use Metatrader’s limited social functionality to take advantage of the information.
All entities hold their client’s funds separately from the company’s funds and offer negative balance protection. Clients of Notesco Financial Services Ltd (CySEC) and Notesco UK Limited (FCA) are also protected by the compensation schemes offered by regulators. Traders should note that Notesco Limited (Bermuda) is unregulated. If you have an account with this broker, the FPA recommends you try to withdraw your funds immediately. Low trading fees and quality education for beginners from an industry leader. Success in online trading and investing depends on proper planning based on solid information and useful market insight.
MT4 broker with 24/7 Crypto trading and support for social and copy trading
IronFX allows accounts to be denominated in 13 different base currencies, depending on the account chosen. This is a wider range than is typically seen at most other brokers. The four-step account opening process is fully digital and accounts are generally ready for trading in one day. IronFX offers individual, joint, and corporate accounts, but we will focus on opening an individual account. Overall, IronFX’s non-trading fees are high when compared to other brokers.
We have contacted IronFX customer support several times through the online chat. We asked about deposit and withdrawal methods, as well as about the amount of the minimum deposit. The support team reacted quickly, and their answers were clear and professional. IronFX provides access to 84 forex pairs, 7 FX futures, 31 commodities, 149 stocks, 33 indices, and 32 cryptocurrencies. It should be noted that IronFX offers a high number of minor and exotic forex pairs. The IronFX minimum deposit is $100, the same as the minimum withdrawal amount.
IronFX Forex Broker Review
The webinar project is new, and the current schedule suggests that more advanced topics like “Multi Time Frame Analysis” and “Advanced Moving Average Strategies” are coming soon. Traders will have access to U.S. stocks, UK stocks, as well as several stocks from European markets. It should be noted that most global clients will likely open an account with Notesco Limited, which is an unregulated company registered in Bermuda.
Is IronFX a regulated broker?
IronFX is regulated by CySEC, FCA, ASIC, and the FSCA. 75.35% of traders lose money with this provider.
To get information about available accounts and typical spreads, traders should visit the account types and spread comparison pages. IronFX offers a high number of forex pairs, commodities, and indices. Please read IronFx https://forexhero.info/ reviews below before investing with this broker and share your own live trading experiences with your fellow traders. Choose between Live and STP/ECN trading accounts, offering both floating and fixed spreads.
IronFX accepts traders resident in most countries except the USA, Iran, Cuba, Sudan, Syria, and North Korea. IronFX has traders from 180 countries, making it one of the most accessible brokers. The minimum deposit at IronFX is $100 for most accounts, except for the Zero Spread option, which requires $500.
Is IronFX better than IC Markets?
Is IC Markets better than IronFX? In our analysis of 23 international regulators across 62 of the best forex brokers, IC Markets is considered average-risk, with an overall Trust Score of 86 out of 99. IronFX is considered average-risk, with an overall Trust Score of 84 out of 99. Learn more about Trust Score.
IronFX received a high score in the Deposit and Withdrawal category in our rating. The company provides a sufficient number of deposit and withdrawal options. There are no fees for deposits and withdrawals, except for fees for bank wires under $300. There are plenty of base currencies to choose from, which is good for clients. Traders should note that IronFX offers various types of accounts. Most of these accounts are spread-based, so traders will not have to pay a commission.
We appreciate your trust in our services and hope to continue providing you with the best possible trading experience. Hello chandru,We are sorry to hear about your negative experience, but we would like to clarify that IronFX is not related ironfx review to a business named HelpyFX as mentioned in your review. Also, we take all claims of fraudulent activity seriously and investigate them thoroughly. However, we would need more information to locate your account and investigate your claims.
Thank you for choosing IronFX as your broker and we look forward to continue serving you in the future! Hi Mukul,Thank you for taking the time to share your positive experience with IronFX.🤩 We are thrilled to hear that you are enjoying the benefits of our STP/ECN account! 🥳 We strive to provide our clients with the best trading experience possible, and we are pleased to know that you are satisfied with our services. If you have any questions or concerns in the future, please do not hesitate to contact our customer support team at IronFX 🚀🦾Solid Trading. IronFX offers two demo accounts, the Demo Floating Spread and the Demo STP/ECN Absolute Zero.
However, it takes 48 hours on average for IronFX to process withdrawals, which is longer than most other brokers. IronFX charges admin fees on some withdrawal methods in addition to a fee of 50 USD for bank transfers under 300 USD. I think traders that are clients of this broker value it not just for its decent trading conditions and reliability.
Some options depend on the geographic location and account type. This is another area in which the broker really excels in my opinion. You will find that they have an excellent variety of convenient deposit and withdrawal methods to meet everyone’s needs. Some clients may find the online payment processors more convenient and faster. I personally use digital wallets as they allow me to move my funds around faster. This can be vital if there is a scenario where there is some major market news that I need to try and capitalise on.
IronFX Strengthens Its Position as Forex Trading Booms During COVID-19 – Crypto Mode
IronFX Strengthens Its Position as Forex Trading Booms During COVID-19.
Posted: Sun, 30 Aug 2020 07:00:00 GMT [source]
Myfxbook in an online trading platform which supports social and copy trading. When social trading, the trader has access to the ideas and actions of other traders, but when copy trading the trader copies the trades of a selected trader into their own account. Traders who are performing well, may not continue to perform well, however social and copy trading can allow the trader to see the ideas or copy the traders of more experienced traders. IronFX Academy provides impressive educational features for smaller and less-skilled traders.
Can you withdraw money from IronFX?
You can withdraw your profits only through the Bank Wire. You can receive your initial deposit via the payment method initially used and then all excess funds (profits) will be sent to your bank account. In order for the above to take effect, you need to apply for a bank withdrawal from your client portal.