Introducing the Global Leader in Online Trading – Read our IronFX Forex broker Review
IronFX is an online Forex broker that enables traders to access a wide variety of markets. It offers 10 trading platforms, and more than 200 tradable instruments including Forex, metals, futures, and shares. This well known broker has both retail and institutional customers from more than 180 countries, including Asia, Europe, Africa, the Middle East, and Latin America. It provides support in more than 45 different languages, from more than 8 worldwide offices. In 2014, it announced a partnership with renowned football club FC Barcelona, and become another Forex broker that appreciated the importance of a sporting connection. But not everything is rosy in the IronFX camp, as we found a number of negative reviews when writing our IronFX review. However, many of the complaints online seemed to be related to customer withdrawals, which is always a tricky part of online trading. As not everyone reads the terms and conditions carefully, and understand the requirements for making a withdrawal. Which is one reason why we often mention that reading a company’s terms and conditions is important.
Best and most trusted forex brokers in July 2020
All the brokers below are available in:
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker, DMA
Platform for trading Forex, analysing financial markets and using expert advisors.
Multi-asset platform for trading Forex and CFDs.
Trade online without downloading any software.
Wire Transfer, Bank Transfer, Credit or Debit Cards, PayPal
Based in Cyprus, and licensed and regulated by CySEC, IronFX complies with the most important regulatory standards, and is also recognized and regulated by a number of other country specific bodies. These include FCA (under the name of 8SafeUK Ltd), AFM, AMF, CNB, FI, KNF, as well as being compliant with the latest EU directive for investment services MiFID. The company was founded in 2010, and has offices in South Africa, Sydney, London, and Limassol, among others. 2015, wasn’t a good year for IronFX, as a number of Chinese affiliates filed 160 complaints. Followed by media complaints in Hungary. CySEC decided to make its own investigation, but charges against IronFX were settled. However, the broker decided to leave the jurisdiction of certain regulatory bodies, and a number of its offices were closed.
IronFX offers a range of trading platforms
IronFX is able to cater to the needs of a wide variety of traders, as it offers a number of different trading platforms. These include:
MetaTrader 4 (MT4) – Many of you reading this IronFX review will be pleased to learn that the ever popular MT4 trading platform is available. With it comes a full suite of trading tools, market indicators, the use of Expert Advisors, along with technical analysis tools.
IronFX WebTrader – This is the in-house trading platform offered by IronFX, and requires no download or software installation. All it takes is a few minutes and you’ll be ready to trade. Traders get full access to the range of financial services on offer from IronFX.
PMAM – This stands for Personal Multi-Account Manager, and is designed for traders who prefer to integrate their trading under one master account.
IronFX mobile platform – There are always traders who prefer to trade on the move, and this section of clients are covered with the IronFX mobile MT4 platform.
Autotrade with myFXbook – IronFX are committed to keeping their customers in touch with the latest advances in the industry and have recently introduced a new AutoTrade copy-trade platform called myFXbook.
A range of account options for retail and business traders
Retail investors have a great choice of accounts with IronFX. These include:
Micro account – Minimum deposit of $500, flexible leverage from 1:1 up to 1:500 , fixed or variable spreads dedicated account manager available 24/5
Premium account – Minimum deposit of $2,500, dedicated account manager available 24/5, 10 base currencies, dealing department hotline transaction
VIP account – $20,000 minimum deposit, available in USD, mini lots available for trading
STP/ECN account – $500 minimum deposit, flexible leverage, micro lots can be traded, traders can choose between STP No Commission and STP Zero Spread
Zero fixed spread account – $500 minimum deposit, low commissions per lot
Mirror account – Stop out levels lower, leverage up to 1:200 n STP account, instant internal transfers
Institution and business customers have a choice between the following:
Affiliate plus account
IronFX awards new and regular clients with a great range of IronFX bonuses
It’s always interesting to learn about the various bonuses offered by the brokers we’re reviewing, and IronFX pipped many of the other brokers with its great range of promotions and offers. These included, at the time of writing:
Double bonus – Includes a 100% sharing bonus on up to $10,000 and a 40% power bonus on up to $4,000
Cash rebate bonus – $3 on every lot traded
VIP account promo – Including the promise of the lowest spreads, a IronFX Welcome bonus, and up to $2,000 cashback for trades made via IronFX Global
Refer a friend program – The IronFX bonus amount depends on friends deposit, but can be as much as $200.
There are also a number of competitions for real money and demo account holders with great cash prizes as well as iPhone’s and iPad’s. IronFX takes the problems of its customers seriously and customer support is available by chat, telephone and email. In more than 45 different languages. A number of payment methods are supported by IronFX including major credit cards, bank wire and a range of online payment methods such as Skrill, Neteller and WebMoney. IronFX is definitely a Forex broker we’d recommend you try, but as with everything we suggest you start with a demo account, and begin with small trades if you feel ready to risk some of your hard earned cash.