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IronFX Review 2024

7.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • 100$
Trading platform:
  • WebTrader
  • MetaTrader4
Regulation:
  • CySEC
  • FCA
  • FSCA
Foundation year:
  • 2010
Updated:
7.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • 100$
Trading platform:
  • WebTrader
  • MetaTrader4
Regulation:
  • CySEC
  • FCA
  • FSCA
Foundation year:
  • 2010
57*
people picked this broker on the Traders Union website over the last 3 months
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IronFX isn't available in United States
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Our Evaluation of IronFX

7.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

IronFX is a reliable broker with the TU Overall Score of 7.16 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IronFX clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.

The broker is focused on cooperation with active traders, regardless of their trading experience.

Brief Look at IronFX

IronFX was launched in January 2010 by a team of specialists in finance and software development. Today, IronFX has grown to be among the industry leaders that provide online trading services globally. Customers can use the MT4 advanced trading platforms and trade more than 300 tools from 6 various asset classes. IronFX serves individual as well as corporate clients from over 180 countries. IronFX is highly valued for providing cutting-edge technological innovation on trading platforms and trading tools.

Advantages of trading with IronFX:
  • round-the-clock communication with a multilingual support TEAM on weekdays;
  • wide range of trading assets;
Disadvantages of IronFX:
  • the verification procedure can be repeated;

TU Expert Advice

Anton Kharitonov

Financial expert and analyst at Traders Union

Over the years of cooperation with Traders Union, IronFX has established itself as a partner that strictly fulfills its obligations. The broker offers accounts for both beginners and professionals.

The IronFX website has a convenient multilingual interface. Data on trading conditions are presented in full and described in as much detail as possible.

In the process of working with IronFX, clients can trade the following financial instruments: currencies, metals, indices, commodities, futures, and stocks.

Trade with this broker, if:
  • Regulatory approval is crucial for you, as IronFX is a regulated broker holding licenses from authorities such as CySEC, FCA, ASIC, and FSCA.
  • You are interested in a wide range of trading instruments, including over 200 Forex pairs, metals, indices, commodities, futures, shares, and cryptocurrencies. IronFX provides access to these assets on various platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, and the IronFX mobile app.
Do not trade with this broker, if:
  • You are from a select set of countries, as IronFX does not accept clients from the USA, Canada, Iran, Cuba, Sudan, Syria, and North Korea.
  • A history of fines concerns you, as IronFX has faced fines from regulators in the past for violations of trading laws, although the broker claims to have resolved most of these issues.

IronFX Summary

Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

💻 Trading platform: MetaTrader 4
📊 Accounts: Live Floating/Live Fixed: Standard, Premium, VIP, Zero Fixed; STP/ECN Accounts: No commission, Zero Spread, Absolute Zero
💰 Account currency: USD, EUR, GBP, AUD, JPY, PLN, CZK JPY, PLN, and CZK
💵 Replenishment / Withdrawal: Wire bank transfers, Local bank transfers, credit/debit cards, payment apps (Skrill, Neteller, etc.)
🚀 Minimum deposit: $100
⚖️ Leverage: 1:30 (FCA), 1:30 (CySEC), 1:1000 (FSCA)
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 Spread: Floating or fixed, from 0 pips
🔧 Instruments: Forex, Commodities, Indices, Stocks, Metals, Futures (ALL CFDs)
💹 Margin Call / Stop Out: Depending on the trading instrument
🏛 Liquidity provider: Not indicated
📱 Mobile trading: Android, iOS, WebTrader
➕ Affiliate program: Yes
📋 Orders execution: ECN, STP, Market Maker
⭐ Trading features: Indicators; Advanced Terminal.
🎁 Contests and bonuses: No

IronFX is regulated by multiple reliable bodies, in particular CySEC, FCA, FSCA. IronFX provides clients with the best terms for active trading. The minimum amount for replenishing an account is $100, the leverage is 1:30. IronFX offers demo accounts so traders can test the platform and practice strategies. The Company serves retail and institutional customers from over 180 countries.

IronFX Key Parameters Evaluation

Score:
7.24/10

Trading Account Opening

We suggest you study the registration procedure closely and take a virtual tour of your personal account to know how to become a client.

1

Follow the Traders Union website, go through a short registration, follow the referral link to the broker's website. Click on the "Register" or "Start Trading" button on the main page.

IronFX Review — Registration
IronFX Review — Registration
IronFX Review — Registration
2

Fill in the form with personal data, indicate the country of residence, select the type of account, leverage, and base currency. NOTE: Fill in the personal data in English only.

IronFX Review — Personal data entry
IronFX Review — Personal data entry
IronFX Review — Personal data entry
3

Come up with a password for your personal account and confirm the registration by clicking on the "Open your trading account" button.

IronFX Review — Login
IronFX Review — Login
IronFX Review — Login
4

Your application for opening an account will be sent for confirmation. Then the broker will send you your account login information to your email address. Upon confirmation of the application, you will instantly be allowed to access your personal account.

IronFX Review — Personal account
IronFX Review — Personal account
IronFX Review — Personal account
5

In your personal account, you will have access to the following functions: financial transactions — account funds replenishment/withdrawal/transfer between accounts.

Also, the personal account allows the client to access useful extra functions from the following sections:

  • "My profile". Changing your personal account settings;

  • "My accounts". Managing current accounts and creating new ones;

  • “Trading platforms”. Select and customize the platforms;

  • "Trade requests". Trading account settings, bonus information, password collection, and recovery;

  • “Instruments”. Search bar to speed up the process;

  • "IronFX Card". Card information, card request, card review.

Score:
8.87/10

Regulation and Safety

IronFX is an international broker, operating in various jurisdictions around the world to support each client. Companies operating under IronFX trademark are:

  • Notesco Financial Services Limited - regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number: 125/10.

  • Notesco (SA) Pty Ltd - is regulated by the Financial Sector Conduct Authority (FSCA) with license number: 45276.

  • Notesco UK Limited - authorized by the Financial Conduct Authority (FCA) with reference number: 585561.

Advantages

  • Wide range of trading assets;

Disadvantages

  • the verification procedure can be repeated
Score:
7.23/10

Commissions & Fees

Information
Trading terms at IronFX were analyzed by specialists at the Traders Union for trading and non-trading commissions. There are no hidden trading fees and no commission is charged for deposits or withdrawals. An exception may be the transfer fee set by the payment system.
Account type Spread (minimum value) Withdrawal commission
Standard from $18 No
Premium from $16 No
VIP from $14 No
Zero Fixed from $0 No
No commission from $17 No
Zero Spread from $0 No
Absolute Zero from $3 No

There is a broker’s commission for transferring positions to the next day (swap). A function to disable swaps is offered for Muslim clients.
Trading commission indicators at IronFX and its competitors were also analyzed. Based on the results obtained, each of the brokers was assigned a low, medium, or high commission level.

Broker Average commission Level
$9.71
High
$1
Low
$8.5
Medium
Score:
8.10/10

Account Types

The broker offers a wide range of trading accounts, including accounts for novice traders in the foreign exchange market and more experienced participants. The differences are in the base currency, spread size, minimum volume of transactions and, a commission for the transaction.

Types of accounts:

Account Type
Description
Standard
The spread starts from 1.8 pips, the leverage is at 1:30. It is possible to trade micro-lots with a volume of 0.01. There is no commission;
Premium
Advanced trading conditions for novice traders. The account is available in USD, EUR, GBP, AUD, JPY, PLN, CZK, and the size of the spread starts from 1.6 pips.
VIP
The account is available only in USD, and the size of the spread starts from 1.4 pips. Other terms and conditions are the same as for Standard and Premium accounts;
Zero Fixed
This account is for more advanced users. Trading with 0.01 lots is also available here, but the level of spreads starts from 0 pips, and you can open a trading account only in USD. The leverage is at 1:30. No commission for transactions is charged;
No commission
Option for experienced traders. You can open an account in USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK. The spread starts from 1.7 pips, the leverage is 1:30. Trading in micro-lots is allowed, there is no commission;
Zero Spread
Professional account. Available for opening in USD, EUR, GBP, AUD, CHF, PLN, CZK and JPY, trading in lots with a volume of 0.01 is allowed. Spread starts from 0,01 pips. A commission for each transaction is charged;
Absolute Zero
Account for professional trading. Opens in USD, EUR, JPY, which makes it possible to trade micro-lots. The spread level starts from 0 pips, and the leverage is at 1:30. There is no commission.

Score:
7.89/10

Deposit and Withdrawal

  • To withdraw funds, you have to submit an appropriate application in your personal account, in the section "Operations", "Withdrawal". The number of withdrawal requests is not limited, and the broker doesn’t charge a commission for this operation but the trading fee may be provided by the payment system.

  • You can use credit and debit cards or electronic payment systems such as Neteller, Skrill, and DotPay to deposit and withdraw money from your trading account.

  • All methods, except for bank transfers, require funds to be credited to the user's account within 24 hours. Processing by the payment system can take from 5 to 7 business days when using a bank transfer.

  • Withdrawals and deposits are available in these currencies: USD, EUR, GBP, AUD, JPY, PLN, CZK JPY, PLN, and CZK.

  • Verify your account to carry out financial transactions.

How to withdraw money from your IronFX account | Firsthand experience of Traders Union experts

IronFX Trading tested by Rinat Gismatullin
Score:
8.36/10

Investment Programs, Available Markets and Products of the Broker

IronFX offers the TradeCopier platform as a passive income option. Beginners can use the platform to copy strategies of experienced traders. After registering as a Follower, users can access the rating of the most effective IronFX clients called Strategy Providers. At the initial stage, a Follower can choose one Strategy Provider for copying. However, once the platform is used actively, connecting to several traders from the rating becomes available.

To start copying trades on the TradeCopier platform, follow these steps:

  • Register as a Follower. The registration form can be found in the section of the website with information about TradeCopier. Provide your first name, last name, email, choose the Copy Trade account type and its base currency, and create a password;

  • Pass verification (provide documents to confirm identity and place of residence) and make a deposit;

  • Choose a Strategy Provider from the general list of providers and connect to their account.

The TradeCopier platform is not available in all countries. For example, it is not offered by the FCA-regulated branch in the United Kingdom. As an alternative, traders can use the signal copying service directly in the MetaTrader 4 platform. All conditions of its operation are described on the MT4 website in the Signals section.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Score:
6.53/10

Additional Trading Tools

IronFX offers clients a range of services and tools to enhance their trading efficiency. These include:

  • Personal Multi Account Manager (PMAM) platform. With its help, professional traders can manage multiple accounts of connected investors and conduct block trading on them. The PMAM platform is not available in all countries.

    Useful tools of IronFX - Personal Multi Account Manager (PMAM) Platform
    Useful tools of IronFX - Personal Multi Account Manager (PMAM) Platform
  • Forex Blog. It features market news, tips for beginner traders, analysis, and research from IronFX financial experts.

    Useful tools of IronFX - Forex Blog
    Useful tools of IronFX - Forex Blog
  • Webinars and Seminars. The company offers online training and conducts group Forex sessions in various countries with the opportunity to interact with the lecturer. Participation in IronFX seminars and webinars is exclusively reserved for the broker's clients.

    Useful tools of IronFX - Webinars and Seminars
    Useful tools of IronFX - Webinars and Seminars
  • Live TV. From Monday to Friday, from 9:00 to 11:00 (GMT), live online sessions and streams with IronFX experts are available on the broker's YouTube channel.

    Useful tools on IronFX - Live TV
    Useful tools on IronFX - Live TV
Score:
7.03/10

Customer Support

Information

If any problems or questions arise, you can contact the broker's support service, which works around the clock, 5 days a week.

Advantages

  • Multilingual support
  • A large number of communication methods

Disadvantages

  • The support doesn’t work on weekends
  • No callback function

This broker provides the following communication channels for existing clients and potential investors:

  • by email;

  • call the hotline;

  • message to online chat;

  • search for answers in the FAQs section.

Communication with the support service is carried out both from your personal account and directly from the broker's website.

Contacts

Foundation date 2010
Registration address Iapetou 2, Agios Athanasios, 4101, Limassol, Cyprus
Regulation CySEC, FCA, FSCA
Official site https://www.ironfx.eu/
Contacts
+357 25027212, +27 11 017660, +44 (0) 207 416 6670
Score:
3.88/10

Education

Information

A section on the official website of the IronFX is devoted to Forex trading education. It offers a wealth of useful content for novice traders, including articles, tutorials, and educational podcasts. Additionally, to assist clients in adapting their trading strategies to market changes, the company publishes market trends and financial news.

Information available in the Education section
Information not available in the Education section
Glossary of terms
Trading psychology
Courses on trading in over-the-counter markets
Explanations of the basics of fundamental analysis
Videos of past webinars
How to use the economic calendar
Tutorials on getting started with the IronFX broker
Forex market trading education in the format of e-books

To reinforce theory with practice, traders can use the demo account provided by the broker on MT4. The risks of losing funds are eliminated since the trader uses virtual money. The available amount of virtual deposit is $100,000.

Comparison of IronFX with other Brokers

IronFX RoboForex Eightcap Exness FreshForex 4XC
Trading
platform
WebTrader, MetaTrader4 MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MT4, MT5 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MT4, MobileTrading MT5, MT4, WebTrader
Min deposit $100 $10 $100 $10 No $50
Leverage From 1:30 From 1:1
to 1:2000
From 1:30
to 1:500
From 1:1
to 1:2000
From 1:1
to 1:2000
From 1:1
to 1:500
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 0 points From 0 points From 0 points From 1 point From 0 points From 0 points
Level of margin call
/ stop out
40%  /  20% 60%  /  40% 80%  /  50% No  /  60% 40%  /  20% 100%  /  50%
Execution of orders STP, Market Maker, ECN Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution, Instant Execution Market Execution
No deposit bonus No No No No $30 $50
Cent accounts No Yes No No Yes No

Detailed Review of IronFx

IronFX provides its services to traders globally. The broker considers its main goal to provide clients with the most comfortable trading terms. The broker allows its clients to engage in active trading. For traders with different needs, the company provides a wide range of trading instruments —from standard to exotic currency pairs, stocks, metals, and commodities.

IronFX by the numbers:

  • over 1,200,000 traders have opened accounts here.

  • communication with the support service and personal managers is carried out 24/5;

  • during 10 years of work, the broker has received over 30 local and international awards;

  • over 300 trading assets are available for trading.

IronFX is one of the best solutions for active trading

IronFX is an online trading broker that offers wide functionality and comfortable trading terms for both novice and professional traders. The company offers a choice of demo account and 7 types of real accounts. There are micro-accounts for novice traders and classic and professional trading accounts. The main feature of the professional accounts is the STP/ECN mechanism for bringing transactions to the interbank market, which makes it possible to increase the speed of order execution.

For trading, you can choose a trading platform of your choice: from the classic MetaTrader 4 to the portable version of WebTrader.

Advantages:

1

wide range of trading accounts;

2

a trader can choose the best trading platform for himself;

Latest IronFX News

22.03.2024
Mirjan Hipolito
Trading bonuses from IronFx – boost your deposit!
​Online trading broker IronFX offers traders the opportunity to uplift their deposit with trading bonuses. By choosing to trade with IronFX, traders
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