IronFX Review 2022

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IronFX offers online trading in forex, stocks, futures and commodities

Current Promotions

IronFX Offers 100% Unlimited Sharing Bonus

  • Best Forex Educators 2015
  • Best Customer Provider 2015
  • Best Forex Research Reports 2014
  • Most Trustworthy Forex Broker 2014
Bonus100% Sharing Bonus - double first deposit ($200 Min)
InstrumentsForex, indices, shares, futures, commodities, and metals
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 lots
MetaTrader 4Yes
MetaTrader 5No
Trading CentralYes
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountYes
Demat AccountNo
Mobile AppsYes
Margin TradingNo
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingYes - EAs work with MT4
Social TradingYes
Copy TradingNo
Trade SignalsYes
Islamic AccountYes
CFD TradingYes
Forex TradingIronFX offers trading in major currency pairs, plus minors and exotic pairs
Forex GBPUSD Spread0.8
Forex EURUSD Spread0.7
Forex EURGBP Spread0.7
Forex Assets83
Risk Warning – Your capital is at risk

IronFX is an online, multi-asset broker best known for forex trading. Once registered, users can access the popular MetaTrader 4 (MT4) trading platform, flexible leverage and ultra-low spreads starting from as low as 0.0 pips. This review will fully report IronFX’s offering, including exclusive deposit bonuses, demo accounts and fast deposit and withdrawal methods.

IronFX Overview

IronFX has created a solid reputation as a trusted and reliable broker. Its past and present sponsorships with global brands such as FC Barcelona, IronFX Racing Yacht team and the Korean Freediving Team, have set it apart from other brokers.

Its financial products and trading platforms are accessible in over 180 countries with more than 1,200,000 users signing up to the platform to trade.

Trading Platform

IronFX uses the MetaTrader 4 trading platform. The software is considered one of the best in industry, especially for forex trading. It’s geared towards beginners and intermediates, promising easy-to-use features and straightforward portfolio management.

IronFX trading platform
IronFX trading platform

Traders can use the free MT4 download to install the platform on desktop devices, including Mac. Alternatively, you can trade directly through MetaTrader’s WebTrader.

Armed with account login details, you’ll get straightforward order execution, with instant execution and pending orders available.

MT4 promises advanced charts with nine timeframes, over 30 built-in technical indicators, real-time news, plus automated trading capabilities. The MT4 platform can also be upgraded through MetaTrader’s Market and Signals, where users can buy technical indicators, add-ons, and signals for copy trading.

IronFX also offers a Personal Multi-Account Manager (PMAM) system, which lets traders manage multiple MT4 accounts at the same time.

The broker has recently launched TradeCopier with which traders can either register as Strategy Providers, get copied and earn a performance fee or as Strategy Followers, where they can copy top-performing strategies and get rewarded.


IronFX offers over 300 tradable financial instruments across:

Spreads & Commissions

Lowest Spreads on Majors for Live Account Types start from 0.7 Pips, with the Daily Average being at 1.2 Pips. Of course, spreads do widen during periods of volatility and low trading volume.

Spreads get more competitive as you move up the account tier structure, with the VIP account offering the best value for money. Overall, spreads and commission fees are competitive.

However, there are additional trading fees to be aware of. For example, IronFX charges a $50 inactivity fee for trading accounts sat idle for over a year. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.


IronFX offers flexible leverage up to 1:1000. This enables traders with limited bankroll to take larger positions. A margin calculator is available on the website to see how much you leverage you can access.

Note, trading on leverage amplifies not only potential returns, but also potential losses.

Mobile Apps

IronFX’s MetaTrader 4 trading platform is available via a mobile app for Android, iOS, and Windows devices. The app can be downloaded from the respective app stores. Mobile users benefit from total trade management without having to sacrifice functionality.

The mobile offering also comes with the IronFX Research app which gives users an overview of the financial markets and major news events.

IronFX mobile trading app platform
IronFX mobile trading app

Payment Methods

IronFX customers can choose from several deposit and withdrawal methods.


There are no deposit fees (coverage for wire transfer charges for deposits over 10k USD)


Generally, no fees apply todeposits or withdrawals.
Withdrawal options include:

The withdrawal process is straightforward. From the client portal, navigate to “Transactions”, select ‘withdraw’ and follow the instructions.

Withdrawal times vary depending on the banking provider but range from the same day to seven days. For any withdrawal problems, contact customer support on one of the channels described further below.

The minimum withdrawal via bank wire is $100. Withdrawals below $300 will have a fee of $55 per transaction.

Demo Accounts

IronFX offers demo accounts so traders can test the platform and practice strategies. There are two demo accounts available:
Demo Floating Spread
Demo STP/ECN Absolute Zero

Each demo account imitates real trading conditions, the only difference is virtual money is used.

Bonuses & Promotions

Traders have a choice of welcome bonuses when they sign up for an account at IronFX:

100% unlimited Sharing Bonus – minimum $200 deposit.

40% Power Bonus up to $4,000 – minimum $500 deposit

20% Iron Bonus up to $2,000 – minimum $100 deposit

Note, bonuses cannot be withdrawn. Offers also vary depending on the country you’re signing up from. Finally, check any minimum deposit bonus terms and conditions when you register for an account as they are subject to change.

Additional Features

IronFX offers the Trading School, where both beginners and professionals can benefit from e-books and tutorial videos, glossary, economic calendar as well as tips for forex trading and developing a forex strategy.
The broker also offers an advanced blog section with numerous articles on the markets.

Traders can also benefit from Trading Central’s latest features offered via the Client Portal as well as from trading widgets including a Currency Converter, a pip, margin and profit calculator.

IronFX profit calculator
IronFX profit calculator

Account Types

Seven trading accounts are available at IronFX.

Live floating/live fixed account types:

STP/ECN trading account types:

The primary difference between live floating/live fixed trading accounts and the ECN/STP model is market execution. Real accounts use instant execution with re-quotes, whereas STP/ECN accounts use market execution, so no re-quotes are involved.

IronFX also offers the Cent account with which clients can start with less funds and smaller lot size.

Note, an account manager is available with all of IronFX’s trading accounts. Also, the broker has an Islamic swap-free trading account.


There are several benefits to signing up with IronFX:


There are certain limitations to IronFX’s offering:

Trading Hours

IronFX trading hours run around the clock. Users can trade from 00:00 Monday through to 24:00 on a Friday. IronFX market hours run on GMT + 2 with GMT + 3 applying during daylight saving/summertime.

Note that while users may be able to trade 24 hours a day, spreads are less competitive during periods of low liquidity.

Customer Support

The IronFX customer support team is available 24/5 in 30 different languages:

To keep up with the latest IronFX news, you can also find the broker on social media:


IronFX uses standard security features to keep clients’ personal information secure, including website encryption. The MT4 trading platform uses MetaTrader’s one-time password. Security could be bolstered through the use of dual-factor platform authentication.

IronFX Verdict

IronFX is a good broker for novices up to intermediates. They offer the reliable MT4 trading platform, a range of products, plus competitive spreads and leverage levels. The choice of account types will also suit varying trading styles and capital needs.

Disclaimer: The offerings in this review relate to Notesco Ltd , which is registered in Bermuda with registration number 51491

Accepted Countries

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Alternatives to IronFX

If you are looking for alternatives to IronFX we have compiled a list of the top 5 brokers that are similar to IronFX below. This list of brokers like IronFX is in order of similarity and only includes companies that accept traders from your location.

  1. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  2. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  3. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
  4. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  5. – boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.


Does IronFX offer negative balance protection?

Yes – IronFX does offer negative balance protection to all users. This ensures traders do not lose more than their initial deposit.

Can I cancel an instant order request?

If the server has already received and processed the order, it may not be possible to cancel an instant order request. If this is the case, you will receive a pop-up to warn you that your order may not be cancelled.

Can I use MetaTrader 5 at IronFX?

The MetaTrader 5 trading platform is not currently available at IronFX. Instead, customers have access to the MetaTrader 4 platform. See here for a review of MetaTrader 4.

Can I use Expert Advisors at IronFX?

Expert Advisors (EAs) are supported on the MetaTrader 4 platform, so automated trading is possible.

Does IronFX offer sign-up bonuses?

Welcome bonuses are available at IronFX when you register for a new account. However, they do change over time and vary between countries, so check the current offers available when you sign up.

IronFX offers online trading in forex, stocks, futures and commodities

IronFX vs Other Brokers

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