IronFX Review 2022

IronFX Video Review

Investor Protection & Regulations

“IronFX is a trade name of Notesco Limited which is a company registered in Bermuda. IronFX.com is not regulated by any financial body. Upon logging on to the IronFX website users are asked if they would like to visit their EU regulated website which is regulated by FCA (UK), ASIC (Australia) and CySEC (Cyprus). The non-regulated IronFX products and services are the subject of this review.”

IronFX is a trade name of Notesco Limited which is a company registered in Bermuda, as detailed on the broker’s website.

As such, IronFX.com is not regulated by any financial body and is not directed at EU residents. Having said that, depending on a user’s geographical region they can visit the IronFX website which is regulated by the FCA (UK), ASIC (Australia) and CySEC (Cyprus).

The option is presented when logging on to the IronFX.com website, as shown below:

Tradable Products

“IronFX offers users the ability to trade on more than 200+ financial instruments from 6 asset classes, covering Forex, Metals, Indices, Commodities, Futures and Shares.”

IronFX offers users the ability to trade on more than 200+ financial instruments from 6 asset classes, covering Forex, Metals, Indices, Commodities, Futures and Shares.

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the IronFX website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened and are covered further down this review.

Account Opening

“IronFX offers users the ability to choose from 7 different account types. The Micro, Premium, VIP and Zero Fixed Accounts offer live floating/fixed spreads. The No Commission, Zero Spread and Absolute Zero Accounts offer STP/ECN trading. Users can also open a free demo trading account, as well as a swap-free account.”

IronFX offers users the ability to choose from 7 different account types, as well as a free demo trading account and swap-free account.

The Micro, Premium, VIP and Zero Fixed Accounts offer live floating/fixed spreads with leverage up to 1:1000 or 1:500 and varying minimum deposit amounts, as shown below:

The No Commission, Zero Spread and Absolute Zero Accounts offer STP/ECN trading with a maximum leverage of 1:200 and a 500 USD minimum deposit amount, as shown below:

To open an account, users simply need to click on the Register button which will redirect you to an application page:

From here, users simply need to fill in their name, email, phone and trading account information. Users can also select the account type they want to open, any bonus offers they would like to take part in, the base currency of the account and password. Once this is done users are automatically redirected to the IronFX customer dashboard, as shown below:

To gain full access, users will need to upload proof of identification and address documents, as shown below:

IronFX does not offer its services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria and North Korea.

Deposit & Withdrawals options

“IronFX offers a variety of ways to deposit and withdraw funds which include credit and debit cards, bank wire transfer, China Union Pay, FasaPay, Neteller, Skrill, Paysafe Deposit, Perfect Money, BitWallet, UnionPay International, WebMoney, Crypto and more.”

IronFX offers a variety of ways to deposit funds which include credit and debit cards, bank wire transfer, China Union Pay, FasaPay, Neteller, Skrill, Paysafe Deposit, Perfect Money, BitWallet, UnionPay International, WebMoney, Crypto and more. The deposit methods can be found when logging in to the IronFX customer dashboard area, as shown below:

According to the broker’s FAQ section, deposits are fee-free:

The broker also lists a variety of withdrawal methods in the withdrawal section of the customer dashboard:

Only the initial deposit can be withdrawn via the payment used. Any trading profits can only be withdrawn via bank wire, as shown in the IronFX.com FAQ section below:

Web & Desktop Trading Platforms

“IronFX offers users the ability to trade on the MetaTrader 4 trading platform for PC, Mac and Web.”

IronFX offers users the ability to trade on the globally-recognised MetaTrader 4 trading platform for PC, Mac and Web. Download links can be found in the customer dashboard area or directly from the broker’s website:

The IronFX MetaTrader 4 trading platform allows users to

• View real-time prices
• Access multiple markets
• Trade from the chart

The MT4 Webtrader platform also provides several different features as shown on the broker’s website:

Below is a screenshot of the MetaTrader 4 trading platform for PC with more details covered in the video review of the platform:

Mobile Trading Platforms

“IronFX offers users the ability to trade on the globally-recognised MetaTrader 4 mobile trading app for Android and iOS users.”

IronFX offers users the ability to trade on the go, directly from their mobile phones with the globally-recognised MetaTrader 4 mobile trading app for Android and iOS users. Users can find download links for the app in the IronFX customer dashboard, once logged in, on the broker’s website or in the Google Playstore or Apple Appstore.

The MT 4 mobile trading app allows users to:

• View 3 chart types
• Access 30 technical trading indicators
• Trade on real-time prices
• Manage orders and positions from your phone

The IronFX MetaTrader 4 mobile trading app is covered in more detail in the video review.

Trading Features

“IronFX offers users additional trading features in the form of MetaTrader 4 Advanced, a free MetaTrader VPS (subject to terms and conditions) and access to Trading Central services such as Technical Analysis and a MetaTrader plugin, as well as access to copy trading via AutoTrade from myFXbook.”

IronFX provides users with an Advanced MT4 version which can be downloaded directly from the broker’s website:

The broker also provides access to a free VPS service subject to terms and conditions, as shown below:

Users can also access copy trading services via AutoTrade, as shown below:

Users can also access a variety of tools from the IronFX customer dashboard area, as shown below:

This includes access to trading calculators, MT4 indicators and technical analysis from Trading Central.

Commissions & Spreads

“Trading costs with IronFX vary depending on the market being traded and the account type opened. Some accounts offer commission-free trading and others commission-based.”

Trading costs with IronFX vary depending on the market being traded and the account type opened. The Micro, Premium, VIP and No Commission account offer commission-free trading, while the Zero Fixed and Zero Spread offer commission-based trading.

The broker also offers a mixture of live floating spread accounts and live fixed spread accounts. However, spread information can be found directly on the broker’s website as shown below:

IronFX Forex Trading

IronFX Indices Trading

IronFX Futures Trading

IronFX Metals Trading

IronFX Shares Trading

Swap rates can be found in the MetaTrader 4 trading platform under Specification on the symbol you are trading. It’s also worthwhile remembering there are fees for inactivity – a fixed, annual 50 USD administrative fee and an administration fee of 3% as shown in the broker’s Terms of Business document:

Bonus & Promotions

“As IronFX.com is not regulated by any financial body, there are no restrictions to offering bonus and promotion schemes such as live trading competitions and deposit booster bonuses.’’

IronFX offers several bonuses and promotion schemes. At the time of writing, they are offering a live trading competition to attend the 2020 Olympic games or win a cash reward, as shown below:

IronFX also offers trading bonuses for deposits, as shown below:

Customer Support

“IronFX provides customer support 24 hours a day, 5 days a week in the form of email, live chat, a telephone support line and an FAQ section.”

IronFX provides customer support 24 hours a day, 5 days a week in the form of email, live chat, a telephone support line and an FAQ section.

After testing the live chat feature, we were connected with an agent in around three minutes in which they answered the question, as the transcript shows below:

Contact Information:

• Address: Notesco Limited, Veritas Place, 6th Floor, 65 Court Street, Hamilton, HM 12 Bermuda.
• Email: support@IronFX.com
• Phone: +44(0) 203 282 7777
• Social Media:
  • https://www.facebook.com/IronFX/
  • https://twitter.com/IronFXGlobal
  • https://www.linkedin.com/company/ironfxglobal/
  • https://www.youtube.com/user/IronFXMarketing

Research

“IronFX provides research through their Market Insights blog, daily market videos on YouTube and through Trading Central tools.’’

IronFX provides research through its Market Insights blog, as shown below:

The broker’s YouTube page also features a daily market outlook video blog, as shown below:

The broker also provides research via Trading Central tools which can be accessed when logged in to the IronFX customer dashboard, as shown below:

Users can also access an economic calendar, trading calculators and WebTV from the IronFX customer dashboard area.

Trader Education

“While IronFX does not provide any trader education from their website, users can access education on-demand videos through the broker’s Trading Central tool.’’

While IronFX does not provide any trader education from their website, users can access education on-demand videos through the broker’s Trading Central services which can be found from the IronFX customer dashboard, under Tools, as shown below:

After clicking on Technical Analysis, users are redirected to Trading Central where they can access educational videos.

Trading Experience

“IronFX provides users with the ability to trade on the globally-recognised MetaTrader 4 trading with additional trading features from Trading Central. They also provide a wide selection of markets and trading accounts with varying commissions, spreads and costs, albeit as an unregulated entity.”

IronFX provides users with the ability to trade on the globally-recognised MetaTrader 4 trading platform which is beneficial for beginner and advanced traders due to the global support of the platform.

The broker also provides a wide selection of trading accounts with varying commissions, spreads and costs. Advanced traders may enjoy the flexibility of the offering, as well as access to zero spreads but the broker is unregulated.

However, the broker does provide a range of additional trading tools such as features from Trading Central and a MetaTrader 4 Advanced plugin. As the broker is not regulated by any financial body, they also provide a range of bonus and promotion offers.

FAQ

Is IronFX regulated?

No.

Where is IronFX based?

IronFX is a trade name of Notesco Limited which is based at Veritas Place, 6th Floor, 65 Court Street, Hamilton, HM 12 Bermuda.

How does IronFX make money?

IronFX makes money mainly through spreads, swaps and commissions on certain tradable asset classes and commissions on certain trading accounts.

How do I deposit in IronFX account?

Funds can be deposited into a trading account via credit and debit cards, bank wire transfer, China Union Pay, FasaPay, Neteller, Skrill, Paysafe Deposit, Perfect Money, BitWallet, UnionPay International, WebMoney, Crypto and more.

What is the min. deposit for IronFX?

The minimum deposit is $100.

How do I withdraw money from IronFX?

Initial deposits can be withdrawn via the same method deposited and any trading profits withdrawn via bank wire transfer.

What is the max leverage in IronFX?

The maximum leverage offered by IronFX is 1:1000.

How do I open an account with IronFX?

An account can be opened at the click of a button on the IronFX website and can be done in just a few steps.

Does IronFX use MetaTrader?

Yes, MetaTrader 4.

Conclusion

“IronFX is a trade name of Notesco Limited which is a company based in Bermuda, offering a multi-asset class Forex and CFD trading experience with 7 different account types to trade on 200+ financial instruments covering Forex, Metals, Indices, Commodities, Futures and Shares on the MetaTrader 4 trading platform for PC, Mac, Web, Android and iOS.”

IronFX was founded in 2010 and is a trade name of Notesco Limited which is a company registered in Bermuda. Accounts can be opened with the non-regulated entity located in Bermuda, or with the broker’s regulated entity from the UK Financial Conduct Authority – depending on the user’s geographical location. This review is based on www.IronFX.com/en which is the non-regulated arm.

Users are offered 7 different types of trading accounts. The Micro, Premium, VIP and Zero Fixed accounts offer a blend of live floating or fixed spreads. The No Commission, Zero Spread and Absolute Zero accounts offer ECN/STP trading. Across the different account types, users are offered a blend of commission-free and commission-based trading with a maximum leverage of 1:1000, 1:200 or 1:500 depending on the account chosen.

The broker offers users the ability to trade on more than 200+ financial instruments covering Forex, Metals, Indices, Commodities, Futures and Shares, on the globally-recognised MetaTrader 4 trading platform for PC, Mac, Web, Android and iOS operating systems. IronFX also offers free VPS hosting, subject to terms and conditions, as well as a copy trading facility called AutoTrade via myFXbook.

While the broker does not offer any type of educational resources they do provide live research and analysis via their Market Insights blog and Daily Market Outlook videos on YouTube. Users can also access Trading Central features such as technical analysis and education on-demand videos. They also offer a variety of different bonus and promotional offers such as live trading competitions and deposit boosters.

• STP/ECN trading accounts available.
• 200+ trading instruments to trade on.
• MetaTrader 4 available for PC, Mac, Web, Android and iOS.
• Additional trading features from Trading Central available.