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XM vs IronFX - Fees Review included

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Which broker is better XM or IronFX? Our expert assessment conducted according to TU’s own methodology showed that XM is one of the top brokers in the financial market with the TU Overall Score of 9 out of 10. IronFX is one of the top brokers in the financial market with the TU Overall Score of 7.13 out of 10. Find out more about TU Overall Score.

Feature XM IronFX

Overall

4.5

3.5

Regulation

4.9

2.1

Fees

4.3

2.9

Trading Assets

4.4

4.2

Investment Instruments

4.4

4.6

Platforms and Charting Tools

4.6

4.4

Deposit and Withdrawal

4.7

3.7

Research

5

3.9

Education

5

4.7

Support

4.6

3.9

Bonuses

5

4.8

XM review

IronFX review

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XM vs IronFX: Pros and Cons

XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.

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.

XM IronFX
Overall Pros Well-Regulated broker wide range of trading assets
Strong research tools variety of bonus programs and promotions
Strong education
Big Forex bonuses
Free deposit and withdrawal
Instant withdrawal
1000+ trading assets
Overall Cons High spreads Poor regulation
the information published on the site is incomplete
there are frequent slippages
periodic delay in withdrawing funds
High spreads and ECN trading fees

XM vs IronFX: Safety and Regulation

XM IronFX

Max. Regulation Level

Tier-1

Tier-1

Investor protection

£85,000 €20,000

€20,000 £85,000

FCA UK Regulation

No

Yes

FINRA (U.S)

No

No

BaFin (Germany)

No

No

ASIC (Australia)

No

No

CFTC (U.S)

No

No

MAS

No

No

FSCA SA

Yes

No

BVI FSC

No

No

VFSC

No

No

FSA (Seychelles)

Yes

No

XM vs IronFX: Trading Conditions

Trading Conditions XM IronFX

Minimum Deposit

$5

$50

Trading Platforms

MT4, MT5

MetaTrader 4, WebTrader

Max Leverage (Futures)

1:888, 1:30 (for EU, UK clients)

1-1000

Supported Markets

Forex, CFDs on indices, commodities, crypto, metals, stocks

Currency pairs, stocks, metals, indices, futures, commodities, and cryptocurrencies

Trading assets

1300+

300+

Trading Accounts

Micro, Standard, Ultra Low, Zero

Micro, Premium, VIP, Zero Fixed, No commission, Zero Spread, Absolute Zero, demo account

Base Account Currencies

USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR

USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, and CZK

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XM vs IronFX: Fees

XM IronFX

Standard acc. spread EUR/USD, min pips

0,7

0,7

Standard acc. spread EUR/USD, max pips

1,2

1,2

ECN Commission

3,5

2

ECN Spread EUR/USD

0,2

0,4

Deposit fee, %

No

No

Withdrawal fee, %

No

No

Withdrawal fee, USD

No

No

Inactivity fee, $

10

No

A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.

XM vs IronFX: Trading Assets

Asset Name XM IronFX

Overall

1300+

300+

Forex

Yes

Yes

Stocks

Yes

Yes (CFD)

Metals

Yes (CFD)

Yes (CFD)

Cryptocurrencies

Yes (CFD)

Yes (CFD)

Energy

Yes (CFD)

Yes (CFD)

Indices

Yes (CFD)

Yes (CFD)

ETFs

Yes (CFD)

No

Bonds

No

No

Mutual funds

No

No

Stock options

No

No

Futures Trading

No

No

Binary Options

No

No

XM or IronFX: Investment Programs

Asset Name XM IronFX

Copy Trading

Yes

Yes

MAM/PAMM

No

Yes

Managed Accounts

No

No

Other

No

No

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Trading Platforms: IronFX or XM

XM IronFX

MT4

Yes

Yes

MT5

Yes

Yes

cTrader

No

No

Appropriate platform

No

No

Others

No

No

XM review

IronFX review

Open an account

Your capital is at risk.

Open an account

Your capital is at risk.

XM vs IronFX: Deposit and Withdrawal Methods

XM IronFX

Bank Wire

Yes

Yes

Bank Card

Yes

Yes

Neteller

Yes

Yes

BTC

Yes

Yes

Wise

No

No

Payoneer

No

No

USDT

Yes

Yes

XM vs IronFX: Research

Research Type XM IronFX

News Feed

Yes

Yes

Fundamental Data

Yes

No

Chart Analysis

Yes

Yes

Trading Ideas

Yes

Yes

E-Mail Reports

Yes

No

XM vs IronFX: Education

Education Type XM IronFX

Demo-account/Paper Trading

Yes

Yes

Webinars

Yes

Yes

Articles

Yes

Yes

Videos

Yes

Yes

Cent account

Yes

No

IronFX vs XM: Support

Support Features XM IronFX

Working Days

24/5

24/5

E-mail

Yes

Yes

Phone

Yes

Yes

Online chat

Yes

Yes

Other

No

No

XM vs IronFX: Forex Bonuses and Promo

Promo XM IronFX

Forex Bonus

up to $5000 forex bonus, up to 100% forex deposit bonus

"100% Unlimited Sharing Bonus" The "40% Power Bonus up to $4,000" "20% Iron Bonus up to $2,000"

Affiliate Program

Multi tier 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.

Other Promos

XM review

IronFX review

Open an account

Your capital is at risk.

Open an account

Your capital is at risk.

Top 5 Reviews on IronFX

  • IronFX

    basscoltenp1uq4fc@gmail.com

    10.07.2025

    Comment

    I use it as part of my 'broker portfolio', and I recommend for all to do the same. No reason to have 1 broker for everything. This is great for gold and metals, mby some commodities, and definitely majors trading. For everything else , I just prefer not to use it, and have fun elsewhere.

  • IronFX

    michellema424@gmail.com

    04.07.2025

    Comment

    If there wasnt such a huge history behind them, they would be just one of many, but with so many people having been first experience with them, they're obviously pretty culturaly significant, to this space. Still continuing to offer decent spreads, still #1 in terms of account number, good promos, good academy. But the support and the keeping up with whats happening inside could be better I think, they could be more proactive, and not just sit on the laurels.

  • IronFX

    Fasiuddin86676@gmail.com

    04.07.2025

    Comment

    IronFX offers trading conditions suitable for both beginners and experienced speculators. You can choose between fixed and floating spreads. Personally, I prefer working with floating spreads starting from 0.0 pips. MT4, AutoTrade, and VPS support are available — everything needed for stable trading. I’ll also highlight that the broker offers leverage up to 1:1000 on CFDs for silver and oil, which is quite rare. Despite the offshore registration, everything has been fine so far — withdrawals are stable, and I haven’t encountered any issues.

  • IronFX

    vluk2004@gmail.com

    20.06.2025

    Comment

    IronFX offers a unique TradeCopier service that lets you tap into the experience of other traders. Everything is automated, with customizable risk settings. I also liked their mobile terminal, which integrates with the client dashboard and supports VPS — convenient for trading via smartphone or tablet. The promotions and bonuses didn’t disappoint either: I received a $150 bonus on a $500 deposit. Withdrawals went smoothly — the funds were on my card within 48 hours.

  • IronFX

    valenciaadisonhigxkck@gmail.com

    18.06.2025

    Comment

    Overall, smooth trading there. Reliable broker that has something to offer for the beginners. I did not spend much time learning the ropes.

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Top 5 Reviews on XM

  • XM Group

    mcduffieeustacia@gmail.com

    09.07.2025

    Comment

    Account setup was quick and simple. I choose their MT4 trading app and can say it works pretty well. The execution speed is solid, and the spreads on the standard account are within the standards. Overall it’s been a solid experience and must say that the service here is great…

  • XM Group

    yogawithmeditation8287@gmail.com

    08.07.2025

    Comment

    I discovered XM Group because of their trade copying program through MQL5. It’s very convenient for beginners: the service is integrated into MetaTrader, allowing automatic copying of top traders’ deals. I’m subscribed to one ranked trader myself — the results have been positive for three consecutive months, with an average monthly return of 8–12% at moderate risk. I paid a fixed commission for copying, and after a month, I can opt out — very convenient.

  • XM Group

    susanhughes1990@gmail.com

    04.07.2025

    Comment

    It’s a cool broker and it works really well especially because the support are helpful, professional and available 24/7.

  • XM Group

    msttlouis4@gmail.com

    04.07.2025

    Comment

    I discovered XM Group through the Traders Union rankings — the company ranked among the top brokers. I was impressed by the range of instruments: over 1,000 tradable assets, including 55+ currency pairs, stocks, indices, commodities, and even palladium and platinum. Spreads are very tight, with no markup on most pairs. I especially appreciated the execution speed: 99.35% of orders are filled in less than a second, and I can confirm that personally — I haven’t experienced any delays or requotes. Over the past four months, I’ve made around $700 trading currencies and commodities.

  • XM Group

    guptakavita210819@gmail.com

    30.06.2025

    Comment

    I've been trading with XM Group for just over a year. I chose this broker based on reviews and the fact that it holds multiple licenses — ASIC, CySEC, FSC, and DFSA. I really liked the low minimum deposit of just $5, which meant I didn’t have to risk a large amount. I started with a micro account where 1 lot equals 1,000 units — perfect for beginners. I’m satisfied with the spreads: on EUR/USD they start from 0.8 pips, and there are no fees for deposits or withdrawals, which is quite rare. Over the year, I’ve withdrawn about $900 in profit — the funds arrived quickly, with a maximum wait of 2 days.

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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
Author at Traders Union

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.