IronFX vs ZFX - Fees Review included
Which broker is better IronFX or ZFX? Our expert assessment conducted according to TU’s own methodology showed that IronFX is one of the top brokers in the financial market with the TU Overall Score of 7.64 out of 10. ZFX is one of the top brokers in the financial market with the TU Overall Score of 4.78 out of 10. Find out more about TU Overall Score.
| Feature | IronFX | ZFX |
|---|---|---|
Overall |
3.5 |
2.3 |
2.1 |
5 |
|
2.9 |
3.1 |
|
4.2 |
2.3 |
|
Investment Instruments |
4.6 |
1 |
Platforms and Charting Tools |
4.4 |
2.8 |
Deposit and Withdrawal |
3.7 |
2.5 |
Research |
3.9 |
1 |
Education |
4.7 |
1 |
Support |
3.9 |
2.7 |
Bonuses |
4.8 |
1 |
|
|
|
IronFX vs ZFX: Pros and Cons
The IronFX broker has been serving clients globally for over 10 years. It offers terms for both active and passive income. The company is registered in Bermuda, and there are no regulatory bodies and no licenses. During its tenure, the broker has received over 30 awards but doesn’t provide data on nominations. When asked about regulation, the broker's support service says that there are several licenses, including the permits of the CySEC (Cyprus) and FCA (Great Britain) regulators. Indeed, a detailed analysis reveals inconsistencies, which are described in more detail in the "Security and protection for clients of IronFX " section. Please note, that the absence of a license means that there is no protection against a broker not fulfilling its obligations and that there is no guarantee of protecting the interests of investors.
The ZFX is an NDD, STP, and ECN broker headquartered in London. It has been providing online FX and CFD trading services since 2016. It is regulated by the British FCA and Seychelles supervisory authority FSA. Traders from Europe, Asia, and Africa can trade currency pairs, indices, stocks, and commodities on the ZFX platform. The broker is part of the Zeal Group of fintech companies specializing in liquidity solutions for regulated markets in major regions of the world
| IronFX | ZFX | |
|---|---|---|
| Overall Pros | wide range of trading assets | Execution of trades without going through a dealing center and liquidity from major financial institutions |
| variety of bonus programs and promotions | Regulation by the FCA (UK) and the FSA (Seychelles) | |
| High leverage (up to 1:100) on standard and ECN accounts | ||
| Tighter spreads (from 0.2 pips) on ECN accounts | ||
| Ability to trade over 100 assets, including Forex, stock indices, commodities (precious metals and crude oil), and stocks | ||
| High leverage (up to 1:100) on standard and ECN accounts | ||
| Overall Cons | Poor regulation | Lack of a web-based trading platform |
| the information published on the site is incomplete | Hefty $1,000 deposit for retail traders on ECN accounts | |
| there are frequent slippages | The maximum number of open positions in Standard and ECN accounts is limited and cannot exceed 200 | |
| periodic delay in withdrawing funds | ||
| High spreads and ECN trading fees |
IronFX vs ZFX: Safety and Regulation
| Regulated By: | IronFX | ZFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Bermuda - registration number 51491 |
FSA (Seychelles) |
IronFX vs ZFX: Trading Conditions
| Trading Conditions | IronFX | ZFX |
|---|---|---|
Minimum Deposit |
$50 |
$1000 |
Trading Platforms |
MetaTrader 4, WebTrader |
Zeal MT4 (for PC, Mac, Android and iOS) |
Max Leverage (Futures) |
1-1000 |
1-100 |
Supported Markets |
Currency pairs, stocks, metals, indices, futures, commodities, and cryptocurrencies |
Forex, Commodities, Global Indices and Cryptocurrencies |
Trading assets |
300+ |
100+ |
Trading Accounts |
Micro, Premium, VIP, Zero Fixed, No commission, Zero Spread, Absolute Zero, demo account |
Zeal Standard Trading Account, Zeal ECN Trading Account |
Base Account Currencies |
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, and CZK |
USD, GBP |
IronFX vs ZFX: Fees
Forex Trading Fees
| Fee | IronFX | ZFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.8 pips |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Zero Spread account - $13.5/Lot |
Acording Specification |
ECN Account EUR Average Spread |
0.0 pips |
0.2 pips |
CFD Trading Fees
| Fee | IronFX | ZFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IronFX | ZFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
3% ‘no trading’ fee when a trader has deposited and requested to withdraw funds without ever entering one trade |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IronFX vs ZFX: Trading Assets
| Asset Name | IronFX | ZFX |
|---|---|---|
Overall |
300+ |
100+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
IronFX or ZFX: Investment Programs
| Asset Name | IronFX | ZFX |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: ZFX or IronFX
| IronFX | ZFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
IronFX vs ZFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IronFX | ZFX |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
no |
No |
IronFX vs ZFX: Research
| Research Type | IronFX | ZFX |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
IronFX vs ZFX: Education
| Education Type | IronFX | ZFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
No |
Cent account |
No |
No |
ZFX vs IronFX: Support
| Support Features | IronFX | ZFX |
|---|---|---|
Working Days |
24/5 |
8/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
IronFX vs ZFX: Forex Bonuses and Promo
| Promo | IronFX | ZFX |
|---|---|---|
Forex Bonus |
"100% Unlimited Sharing Bonus" The "40% Power Bonus up to $4,000" "20% Iron Bonus up to $2,000" |
No |
Affiliate Program |
“Introducing Broker” (IB). Opening a personal account as a broker's representative gives you an advantage in the form of extra bonuses, contests, more favorable trading terms, and rebates. |
No |
Other Promos |
||
|
|
|
Top 5 Reviews on ZFX
-
Comment
For me personally, the conditions at ZFX Broker are quite satisfactory. Although the minimum account was a bit expensive. Not everyone is ready to check a broker with a minimum deposit like this. However, I took a risk and I don’t regret it. I trade normally, everything works well, and I successfully withdrew funds twice without delays.
-
Comment
ZFXBroker is a scammer and deceiver, its first priority is profit and it profits mainly from those who invest a lot. I deposited a small amount at first, checked them, and it seemed to be a normal broker. But as soon as I deposited $900, they immediately started playing on my account. These scammers drained my entire balance. And their technical support said that I lost everything myself.
-
Comment
This is not a broker! Not only does ZFX Broker limit the ability to open trades, but it also closes trades at its own discretion. Like, there is a suspicion that I don’t have enough margin to support the trade. Four trades in a row - and all go into negative due to the fact that ZFX Broker closes trades on its own, without me.
-
Comment
I can’t give ZFX Broker a high score. I argued with technical support more than once, and I memorized the regulations so that I knew all my rights. I will say that there are a lot of things in the regulations that can put the client in an uncomfortable position. And I think that ZFX Broker, when compared with others, is not in the top of traders’ trust. And this is understandable.
-
Comment
Slippage of 30 pips on ZFX Broker platform is a normal occurrence. Therefore, it turns out that when you try to open an order, spread and slippage already bring a big loss. If there is a price movement in the market, you can win back such a loss. But most often such orders bring problems in the form of financial losses. Therefore, I had to change ZFX Broker to another company.
Top 5 Reviews on IronFX
-
Comment
IronFX is a good broker even for novice traders. In fact, it has everything you need. It can even assign a manager to assist you in trading, if required. I learned to trade here and continue to trade with the broker. Everything is fine.
-
Comment
IronFX is currently one of the best brokers — everything works well, without any delays. I withdrew to Skrill a couple of times and the money came almost immediately.
-
Comment
I would like to leave a review of ironfx. This company makes me happy! I’ve been working with them for six months now. It is profitable to do business with them! It’s hard to find such good conditions! Trading has already brought me $2,400. I withdraw it without delays. The user account is very convenient. The broker is priceless!
-
Comment
I've been piping for 5 months with this company. I can note that trades have never been canceled. And in general, IronFX does not interfere with trading. There were no problems with withdrawals. It’s an ordinary normal company, I didn’t find anything critical in it. Trading conditions correspond to the market.
-
Comment
I’ve been trading with Iron FX for a while now and have had no problems so far. Among the advantages are good performance and a good personal manager. I’m trading here with a small deposit, but I think that there won’t be any problems and I’ll deposit a decent amount to earn more.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.