IronFX Review 2023

/ 5
IronFX is #43 in our CFD broker rankings.

IronFX offers CFD trading in forex, stocks, indices, commodities and futures with high leverage, a choice of bonuses, plus the reliable MT4 platform.


Demo Account

Copy Trading

Beginner Friendly
MT4, AutoChartist, TradingCentral
Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs)
Traders can choose between: 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.
Neteller, Bitcoin Payments, Debit Card, Credit Card, Wire Transfer
and 4 more

Forex Trading

IronFX offers trading in major currency pairs, plus minors and exotic pairs.

Stocks Trading

IronFX offers trading on popular stock indices and shares in large companies.

CFD Trading

Go long or short on 300+ CFDs with high leverage.

Crypto Trading

Not Available

Copy Trading

TradeCopier allows aspiring investors to copy the strategies of top traders in real-time. Funds can be withdrawn at any time.


  • Best Online Trading Platform (2019)
  • Best Broker of the Year (2019)
  • Most Trustworthy Forex Broker Global (2019)
  • Best Online Trading & Financial Services Company (2020)
  • Best Online Forex Trading Platform (2021)
  • International Online Currency Trading Platform of the Year (2021)
  • Most Outstanding Online Trading Partners Program (2022)

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 0.0 pips. This review will fully report IronFX’s offering, including exclusive deposit bonuses, demo accounts and fast deposit and withdrawal methods.

Key Takeaways

Company Details

IronFX was set up in 2010 by a team of finance and software experts. Today, the company employs more than 450 people and has created a solid reputation as a trusted and reliable broker. Its 200+ instruments and multiple platforms are accessible in 180+ countries with 50,000+ retail traders worldwide.

The company’s past and present sponsorships with global brands, such as the Korean diving team and sailing athlete Marilena Makri, have set it apart from other brokers.

The brokerage operates through four entities:

Trading Platform

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

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.

IronFX MT4 ratings
MetaTrader 4

Armed with account login details, you will 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.

While using IronFX, our traders also found a Personal Multi-Account Manager (PAMM) system, which lets clients manage multiple MT4 accounts at the same time.

Note, the broker is planning to introduce MetaTrader 5 (MT5) to its platform offering, which will bring more advanced analysis tools and trading features for experienced traders.

Markets & Instruments

IronFX offers over 300+ CFD assets spanning:

On the downside, direct stock trading is not available. Also the broker does not offer trading on cryptos, ETFs, bonds or options.

IronFX operates through ECN, STP and market maker trading desks.

Spreads & Commissions

Traders can choose between floating/fixed spread Standard, Premium, and VIP accounts. Alternatively, the Live Zero Fixed Spread account comes with zero spreads, but traders will have to pay a commission.

Spreads also 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 fees to be aware of. For example, IronFX charges a 3% account inactivity fee. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.

IronFX Leverage

IronFX offers flexible leverage up to 1:1000 (Bermuda), 1:500 (FSCA), and 1:30 (FCA & CySEC). This enables traders with a limited bankroll to take larger positions. A margin calculator is available on the website to see how much leverage you can access.

Note, leverage trading 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 and iOS devices. The app can be downloaded from the respective app stores. Alternatively, the MT4 platform is available on mobile browsers.

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 Trading App
IronFX Trading App

Payment Methods

IronFX customers can choose from a good range of deposit and withdrawal methods.

Accepted base currencies include USD, EUR, GBP, AUD, JPY, BTC, PLN, and CZK.


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

Payments typically take up to 24 hours, though wire transfers may take up to five business days. The minimum deposit is 100 USD.


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

How To Make A Withdrawal

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

For any withdrawal problems, contact customer support on one of the channels described further below.

Demo Accounts

IronFX offers demo accounts so traders can test the platform and practice strategies. There are two demo accounts available:

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

Bonuses & Promotions

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

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


The broker 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.

The copy trading tool is excellent for beginners looking to learn from seasoned traders while experienced investors can generate an additional revenue stream. New users can get started with TradeCopier in four easy steps.

Research & Education

IronFX offers the Trading School, where both beginners and professionals can benefit from e-books and tutorial videos, a glossary, an 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. In addition, a VPS is available for $30 per month or with a minimum deposit of $5,000.

Finally, investors benefit from the latest features from Trading Central via the Client Portal as well as from trading widgets including a currency converter, a pip, margin and profit calculator.

IronFX profit calculator

IronFX Account Types

Multiple trading accounts are available at IronFX.

Live floating/live fixed account types:

Islamic trading accounts are also available.

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 fewer funds and smaller lot sizes. In addition, an institutional account is available.

An account manager is available with all of IronFX’s trading accounts. When we used IronFX, our experts also found that scalping, hedging, intraday trading and swing trading are all accepted.

Regulation & Licensing

IronFX is regulated by multiple financial agencies through its various trading entities:

Our team were also pleased to see that the broker offers negative balance protection, meaning traders cannot lose more than their account balance.

Trading Hours

IronFX trading hours run around the clock. Users can trade from 00:00 Monday through to 24:00 on Friday. The IronFX sever time runs on GMT+2, + DST

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 over 20 different languages:

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

Security & Safety

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 primarily relate to Notesco Ltd , which is registered in Bermuda with registration number 51491.

Accepted Countries

IronFX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use IronFX from United States, Cuba, Sudan, Syria, Korea.

Payment Methods

IronFX Details

Minimum Trade 0.01 lots
Regulated By CySEC, FCA, FSCA, BMA / Bermuda
Account Types
  • STP
  • ECN
  • MAM
  • PAMM
  • LAMM
Islamic Account Yes
Mobile Apps Android, iOS, WebTrader
Margin Trading Yes
Volatility Index No
Spot Trading Yes
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection Yes
VPS Hosting Yes
Tournaments Yes
Demo Competitions No
Managed Accounts No
Market Maker Yes
Auto Trading EAs
Social Trading Yes
Trade Signals Yes
Inactivity Fee 3%
Guaranteed Stop Loss No
Stock Exchanges
  • Australian Securities Exchange
  • Borsa Italiana
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
  • SIX Swiss Exchange
  • Cocoa
  • Coffee
  • Copper
  • Corn
  • Cotton
  • Gold
  • Natural Gas
  • Oil
  • Palladium
  • Platinum
  • Silver
  • Soybeans
  • Sugar
  • Wheat

CFD Trading Details

FTSE Spread From 140
GBPUSD Spread From 0.8
Oil Spread From 3
Stocks Spread Variable
Leverage 1:30 (FCA) 1:30 (CySEC) 1:500 (FSCA) 1:1000 (BM)

Forex Trading Details

GBPUSD Spread From 0.8
EURUSD Spread From 0.7
EURGBP Spread From 0.9
Assets 80+

Compare IronFX

Compare IronFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to IronFX:

  1. 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.
    Go to IG Group
  2. Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
    Go to Just2Trade
  3. – 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.
    Go to

IronFX Comparison Table

Compare IronFX With Similar Brokers
IronFX IG Group Just2Trade
Rating 3.8 4.4 3.5 4.5
Markets Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting Stocks, ADRs, ETFs, futures, options, commodities, bonds Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 £250 $100 $100
Minimum Trade 0.01 lots 0.1 lots 0.01 $1
Bonus Traders can choose between: 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. Up to $2,000 for professional accounts No
Education Yes Yes No Yes
Platforms MT4, AutoChartist, TradingCentral MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:30 (FCA) 1:30 (CySEC) 1:500 (FSCA) 1:1000 (BM) 1:30 1:5 to 1:20 1:200
Payment Methods 9 6 20 8
Visit Visit Visit Visit
Review IronFX
IG Group

Compare Trading Instruments

Compare the markets and instruments offered by IronFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare IronFX Trading Instruments
IronFX IG Group Just2Trade
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No No
Silver Yes Yes Yes Yes
Corn Yes No No No
Crypto No Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

IronFX vs Other Brokers

Compare IronFX with any other broker by selecting the other broker below.

IronFX vs


Is IronFX A Good Broker?

IronFX is a strong all-round broker with a reliable platform, low fees, high leverage, and a selection of welcome bonuses. Traders can also get started with a $100 minimum deposit while the group has good reviews from other users online.

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 At IronFX?

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 platform is not currently available at IronFX. Instead, customers have access to the MetaTrader 4 platform. With that said, the brokerage does have plans to introduce MT5 in the future.

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 CFD trading in forex, stocks, indices, commodities and futures with high leverage, a choice of bonuses, plus the reliable MT4 platform.