Apart from no obvious deposit bonus, this broker seems to tick all of the boxes for both new and experienced traders. Their trading platform is reliable 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. With licensing and regulation from some of the world's most recognised financial regulators, they are one to consider.
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Launched in 2010 by a larger company that has been established since 1972, IronFX is committed to offering 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 several 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 challenging 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.
There is 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, micro-lots and choose fixed or variable spreads with leverage from up to 1:200.
A Premium Account requires a more significant 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 $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 the 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. Set the point at which you wish to exit the trade.
There are several 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 excellent 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.
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 provide 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 capital. They also give you an excellent chance to practise trading. 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.
The world is ever-changing, and with the significant increase of mobile users over the past decade, it is almost imperative for businesses to offer a mobile version of their service. Trading platforms are more and more commonplace, so it’s really up to a company to provide a stellar application that outshines the rest. IronFX launched its first mobile app using the MT4 trading platform for iOS/Android, and a solid 4-star rating, the app has a variety of great features for any investor.
Built so investors can make better, more informed decisions, the IronFX platform offers a clear and concise MM interface with a solid basis of crucial information. Available on any mobile device, you’ll be able to see the data you need, conveniently on the go. Even if you’re without an internet connection, they offer live operates who can execute trades on your behalf.
Their trading platform is robust and suitable for all levels of traders.
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 unique 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 challenging to be unique; however, there are some special features offered by IronFX:
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 takes its 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 complain publicly.
We want to help our readers in any way we can, but sometimes it's better to talk directly with your investing site to get the answers you need. For example if you have a specific query about your account you'll need to contact them in person due to security.
Alternatively, if you find that contacting your investing partner isn't working, you can contact us and we will be more than happy to try on your behalf. We have excellent working relationships with many of the sites we list and recommend.
Apart from no definite deposit bonus, this broker seems to tick all of the boxes for both new and experienced traders. Their trading platform is strong and suitable for all levels of traders. They have several account options to choose from, and they offer plenty of useful insights into the world of Forex trading.
They have many unique features and offer competitive spreads. If you need to get hold of someone, their customer support team are contactable in several 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 one to consider.
Our Review Rating System (More Info)
To ensure our readers know how our experts get to their conclusions, we feel it's essential to be transparent about the rating system we use. All our ratings focus on seven key factors which are shown below. Some of these factors carry more weight than others due to their importance. The importance of a factor has ultimately been decided by our readers and years of their feedback.
- Account Types
- Banking & Payouts
- Bonuses & Promotions
- Mobile Trading
- Trade Types
- Special Features
- Customer Support
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. There is no reason to suggest there is anything untoward about this broker.
Do they have a decent mobile or tablet app?
IronFX is committed to providing a personal service to its customers and has made sure their trading platform is accessible on all devices.
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 tab to see what's on offer.
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!
What's the min. deposit and ideal trade amount?
There are a few deposit amounts depending on your account type; however, it seems that $100 is the lowest you can deposit. It's recommended that you invest 1% of your balance.
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Contributing to the website since 2012 we are one of many consultancy projects Samuel works on. With 38 years of experience in finance, insurance and foreign exchange his combined knowledge makes him an effective operator.