Reviews of the best Forex brokers on the market.

IronFX

IronFX Review

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Review of: IronFX
Product by:
Forex Brokers Hub

Reviewed by:
Rating:
4

Summary:

Being of the newest brokers on the market of forex brokerage services IronFX has managed to climb the top quite fast. The amount of IronFX regulations is impressive while the variety of trading accounts and instruments can satisfy the needs of every trader. Although the spreads of this broker are above average, but the 50% welcome bonus is generally compensating it.

IronFX is one of the new comers to the forex brokerage services. Founded in 2010 IronFX has managed to achieve notability and a large client database within such a short amount of time. Within the last years IronFX managed to collect a great set of the licenses from the most prominent regulators – FCA, ASIC, FSP, CRFIN and CySEC. Having such an outstanding amount of regulators truly make IronFX a safe place to put your funds at. Besides regulations this broker is registered in over ten financial authorities in Europe including MiFiD, a directive valid in 30 European countries. IronFX, as most of the other brokers, is based in the forex land of Europe – Cyprus.
  • MetaTrader 4
  • MetaTrader 5
  • Live Support
  • Islamic Account
  • US Traders


IronFX Review

Key IronFX Features

IronFX makes forex trading available for the traders of any kind. Such flexibility in trading conditions and the general quality of the services are the result of the following features:

  • MetaTrader 4 and MetaTrader 5 trading platforms, available as a desktop application, web service, phone apps and even multi terminal.
  • Live chat, e-mail support and website in more than 30 languages
  • Forex contests for both live accounts and demo accounts
  • Daily analytical reports
  • Refer a friend program and various bonus campaign and promotions
  • VPS Hosting
  • Mini accounts
  • VIP accounts

Holders of various account types are offered different benefits, generally the bigger your deposit is the more you get. The main offers from IronFX include dedicated account manager, lower spreads and smaller trade sizes.

IronFX Weak Points

IronFX spreads are not the lowest on the market, thus if you are a professional scalper we would recommend you taking a look at another broker. Nevertheless, if you are excited about trading with IronFX, the good news is that IronFX provides a welcome bonus of 50% from your deposit, which can substitute the cost of the spread to some extend.

IronFX 50% Bonus

Upon opening an account with IronFX you are granted a superior opportunity to make your trading safer with 50% Bonus. Once you have your IronFX account deposited, it will be credited with additional 50% Bonus up to 9,000 USD. What could be better? A redeposit bonus for every deposit larger than 500 USD. Such a promotion enables traders to leverage our their investment size extensively.

IronFX Trading Accounts

To satisfy the needs of every trader IronFX offers six account types. Each of the accounts has it’s own unique features that make them exactly suitable for you. On top of this IronFX provides a chance to get to know the services on demo accounts with no commitment involved.

  • Demo Account

Most of the brokers provide demo accounts nowadays. What makes IronFX special is the fact that it gives access to four account types – Standard Account, No Commission STP Account, Zero Spread STP Account and Zero Fixed Spread Account. All of the accounts come with a flexible leverage from 1:2 to 1:500 and a custom virtual deposit.

  • Micro Account

This account type allows trading Micro lots – positions that consist out of as little as 1000 currency units. Such an account type is mostly suitable for the beginners or if your deposit size is not large enough to get access to another account. These accounts come with no commission included in your trades, so whenever you are opening a position the spread is your only cost. As for the instruments, you can trade Forex, spot metals, CFDs on commodities, indices, shares and binary options. Spreads at Micro Account start at 0.8 pips.

  • Premium Account

The minimum deposit for this account type starts at 2,500 USD. In return you are provided with a dedicated account manager available 24/7 and spreads starting from 0.4 pips. The amount of instruments stays the same as in the previous account type.

  • VIP Account

VIP service comes at a cost, and in order to be eligible for a VIP account you have to fund you trading account with at least 20,000 USD. On top of everything included in the platinum account you are provided with Telephone trading and the spreads starting from 0.2 pips.

  • Business Account

Should you be looking for a Corporate, Institutional or a Trust account – IronFX can assist you on this. The conditions of these accounts as well as the minimum funding size are the subject to discuss with Corporate Account Manager.

  • Managed Accounts

While some of us do not have enough time to dedicate to the trading, IronFX still offers an opportunity to such people to benefit from trading Forex with its Managed Accounts. By opening a Managed Account with IronFX you will be entitled to let one of the dozens talented traders to manage your funds.

  • STP/ECN Micro Account

If you are a scalper, then STP/ECN Micro Account is the best choice for you. This account allows you to get advantage from trading 0.01 lots with leverage up to 1:500 and is available for the deposits up to 50,000 USD. Scalper’s paradise!

  • STP/ECN Standard Account

Like the previous account, STP/ECN Standard Account has uninterrupted execution. The spreads start at 0 pips or Zero Commission is charged at this account type. The leverage at this account cannot be larger than 1:200.

These accounts offering may look so interesting to you that it makes it difficult to choose the most appealing one. The good news are that IronFX allows to experience all of the by making a single registration. To get access to all of the demo accounts and real accounts click here.

IronFX Trading Software

IronFX provides a powerful set of trading programs – MetaTrader 4 and MetaTrader 5. Trading currencies with IronFX is can be done via a browser, desktop and mobile phones or tablet devices. IronFX offers one of the widest ranges of mobile platforms to make sure that you can trade at any spot.

  • MetaTrader 4

MT4 is the most widely used platform to trade fx, it opens a full range of benefits for the traders:

  • High speed of execution
  • 1-click trading
  • Powerful charting tools
  • Multiple timeframes
  • Extensive amount of charts
  • Expert Advisors (Auto trading) coded in MQL4

IronFX MetaTrader 4

MetaTrader 4 is available in PC, Web and MAC editions. Also MT4 is supported on iPhone, iPad, Android devices and Windows Mobile. BlackBerry users can benefit from BlackBerry Trader.

  • MetaTrader 5

The latest platform from MetaQuotes is available at IronFX too. MT5 seems very similar to the MT4, however there are certain differences:

  • Increased amount of time frames
  • Integrated Market Depth
  • Increased amount of graphical objects and indicators
  • Significantly improved execution

While these features certainly make MT5 superior, MT5 doesn’t treat reverse positions of the same trading instrument as separate, which makes this platform not suitable for everyone.

Although MT5 gets more and more popular, there are still quite a significant number of brokers that do not offer trading through this platform and fortunately IronFX is not one of them. To get your MT5 account click here.

  • Multi Terminal and PAMM Accounts Platform

These are the platforms for slightly more advanced users. MetaTrader Multi Terminal is used to execute traders simultaneously on multiple accounts, while PAMM Accounts remain a unique development of IronFX and can be only provided on demand.

IronFX Trading Conditions

  • Forex

Trading Forex at IronFX can be done in over 60 ways because this broker offers trading in more than 60 pairs. Such services should be strongly welcomed by the Rubble, Singapore Dollar and Turkish Lira traders. IronFX spreads are a bit above the market average, but that’s the cost traders have to pay for the security of the funds and great execution.

The risk seekers find paradise at IronFX due to the leverage levels offered. Any account funded with less than 50,000 USD will receive a leverage of 1:500. The deposits between 50,000 USD and 100,000 USD are leveraged up to 1:200 and the big trader with over 100,000 on their bankroll trade with a leverage of 1:100.

  • Metals

IronFX offers some interesting trading when it comes to metals. Unlike most of the brokers that list XAGUSD and XAUUSD, IronFX also offers Silver and Gold quoted against EUR. In addition to this Platinum and Palladium can also be traded with this broker.

  • Futures

IronFX gives access to trading of over 20 types of futures. Indexes traders can fulfill their orders in S&P 500, NASDAQ 100, NIKKEI 225, FTSE 100, DAX 30 and other major indexes. Energy traders can benefit from trading Gas, Light Sweet and Brent Crude Oil. Corn, Soybeans, Wheat, Coffee, other commodities and major currency futures can be traded at IronFX too.

  • Shares

Trading US and UK Stock CFDs has never been so efficient as with IronFX. Although trading CFDs on shares cannot be compared to trading forex, it is necessary to note that IronFX provides fixed spread on shares and charges a 0.1% percent commission.

IronFX Deposits and Withdrawals Methods

IronFX accepts major credit cards and wire transfers. Also it is possible to use of the e-wallet systems like Skrill, Neteller and web-money. Newer e-wallets like JCB Card, QIKI and Yandex.Money are also available. Mail Order and Telephone Orders can be used to deposit funds to IronFX as well.

Usually the deposit takes from 1 hour to 1 business day and withdrawals take up from 3 to 7 business days depending on the method.

One of the main benefits of IronFX is that no fees are charged when depositing and withdrawing the funds.

IronFX Support

IronFX provides live support in 30 languages during the business hours and English support is available 24/5. The customer support of IronFX is quite helpful. While support mails and live chat can make your life easier, IronFX gives the premium and VIP traders an access to the personal account manager who can be also reached anytime. IronFX also supports call back option, so in case you would like to reach out to your broker and unable to contact your account manager or support for any reason, you can always ask them to contact you.

IronFX Review Summary

Being of the newest brokers on the market of forex brokerage services IronFX has managed to climb the top quite fast. The amount of IronFX regulations is impressive while the variety of trading accounts and instruments can satisfy the needs of every trader. Although the spreads of this broker are above average, but the 50% welcome bonus is generally compensating it.

To get qualified for this bonus you need to click here, register, apply for an appropriate account type and fund your account with a minimum of 500 USD. Short after this IronFX will credit you the 50% from your deposit. Hurry up because this campaign is only valid till the end of August 2013.

Both MT4 and MT5 trading platforms are available with this broker and they come not only in the Desktop Programs, but also these pieces of software can be applied on almost any mobile phone, tablet device or simply logged in from a browser.

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