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IronFX Review 2023

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Our Rating

3.8
/ 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.

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Trusted

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Demo Account

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Copy Trading

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Beginner Friendly

Minimum Deposit $100

Trading Platforms MT4, AutoChartist, TradingCentral

Instruments Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs)

Bonus Offer 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.

Account Currencies USD, EUR, GBP, AUD, JPY, PLN, CZK

Payment Options Neteller, Bitcoin Payments, Debit Card, Credit Card, Wire Transfer
and 4 more

All IronFX Details

Compare IronFX

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 Funds can be withdrawn at any time.

Awards

• 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

• IronFX holds licenses with top-tier regulators
• A choice of welcome bonuses is available to new users
• The TradeCopier platform facilitates beginner-friendly copy trading
• Fixed and floating spread trading accounts are available
• High leverage up to 1:1000 is offered (location dependent)

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:

• Notesco Financial Services Ltd – regulated by the CySEC
• Notesco UK Limited – regulated by the FCA
• Notesco (SA) Pty Ltd – regulated by the FSCA
• Notesco Limited – registered in BMA / Bermuda

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.

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:

• 80 forex pairs
• 30 commodities
• 30 indices
• 30 futures
• 150 stocks

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.

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.

Deposits

• Local transfer solutions – Maximum deposit varies based on country and solution
• Bank wire transfer – Maximum deposit varies among banks
• Credit & debit cards – Maximum deposit $50,000
• Skrill – Maximum deposit $50,000
• Neteller – Maximum deposit $50,000
• FasaPay – Maximum deposit $5,000
• China Union – Maximum deposit CNY 360,000
• IronFX Card – Maximum PLN $99,000
• Perfect Money – Maximum deposit $50,000
• Digital Assets – No Maximum

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.

Withdrawals

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

• Credit & debit cards
• China Union Pay
• Bank Transfer
• Perfect Money
• Digital Assets
• IronFX Card
• Fasapay
• Nether
• Skrill

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:

• 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 an excellent 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

TradeCopier

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 Account Types

Multiple trading accounts are available at IronFX.

Live floating/live fixed account types:

• Standard – Floating spreads start from 1.6 pips, fixed spreads to 2, leverage up to 1:1000
• Premium – Floating spreads start from 1.4 pips, fixed spreads to 1.8, leverage up to 1:1000
• VIP – Floating spreads start from 1.2 pips, fixed spreads to 1.6, leverage up to 1:1000
• Live Zero Fixed Spread – Fixed spreads to 0 + commission, leverage up to 1:500

Islamic trading accounts are also available.

STP/ECN trading account types:

• No Commission – Spreads start from 1.7 pips, leverage up to 1:200
• Zero Spread – Spreads start from 0 pips + commission, leverage up to 1:200
• Absolute Zero – Spreads start from 0 pips, leverage up to 1:200

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:

• Notesco Financial Services Limited – regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 125/10
• Notesco (SA) Pty Ltd – regulated by the Financial Sector Conduct Authority (FSCA), license number 45276
• Notesco UK Limited – regulated by the Financial Conduct Authority (FCA), license number 585561
• Notesco Limited – authorized in Bermuda, registration number 51491

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:

• Email address – support@IronFX.eu (Cyprus/EU), support@IronFX.com (Bermuda, South Africa), support@ironfx.co.uk (UK)
• Telephone contact numbers – +357 25027212 (Cyprus/EU), +27 11 0176600 (South Africa), +44 (0) 207 416 6670 (UK)
• Live chat – Chat support is accessible from the bottom right of the broker’s website
• FAQs – Available in the ‘Contact Us’ section, the FAQs can answer queries on any number of topics, from payment questions to instructions on how to close an account

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

• Facebook
• Twitter
• Instagram
• YouTube
• LinkedIn
• Telegram
• Medium (coming soon)

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

• Neteller
• Skrill
• FasaPay
• Perfect Money
• Bitcoin Payments
• UnionPay
• Debit Card
• Credit Card
• Wire Transfer

IronFX Details

CFD Trading Details

Forex Trading Details

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 is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
   Go to IG Group
2. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
   Go to Forex.com
3. Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
   Go to Just2Trade

IronFX Comparison Table

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IronFX vs Other Brokers

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FAQ

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