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IronFX Review 2022

Updated:
4.2
Trust
3.6
Fees
3.5
Platforms and Tools
4.8
Customer Support
4.5
Tradable Instruments
4.9
Account Types and Terms
4.9
Deposit and Withdrawal
5.0
Research
3.0
Education
3.6

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please Note: The IronFX review is based on a Standard Account, using the MetaTrader 4 desktop and mobile platforms, opened with Notesco Limited.

The Big Picture

Founded in 2010, IronFX offers trading in forex, commodities, indices, stocks, and cryptocurrencies.

The company provides its services via four entities: Notesco Financial Services Ltd (Cyprus), Notesco UK Limited (UK), Notesco (SA) Pty Ltd (South Africa), and Notesco Limited (Bermuda).

The broker offers the highly popular MetaTrader 4 platform.Traders have seven types of accounts to choose from. Three accounts offer the option to choose between the fixed and the floating spread. There is an Islamic Account option for four types of accounts.

IronFX offers a high number of forex pairs, commodities, and indices. The cryptocurrency offering is also interesting. The number of available stocks is medium.

There are plenty of options for deposits and withdrawals. Traders can use various base currencies.

9 IronFX Key Takeaways For 2022

  • We evaluated IronFX across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
  • IronFX received a high score in the Instruments category due to the high number of forex pairs, commodities, and indices.
  • In the Deposit and Withdrawal category, IronFX received a perfect score. There are many options to choose from, and there are no deposit and withdrawal fees.
  • With the highly popular MetaTrader 4, IronFX scored highly in the Platform and Tools category.
  • IronFX received a below-average score in the Trust and Stability category as the unregulated entity in Bermuda hurt the score.
  • The broker got a below-average score in the Fees category. High spreads for several instruments had a negative impact on the score.
  • IronFX got a below-average score in the Research and Education categories. The company decided to focus on video content for beginner traders, and some important parts of educational & research support are not available.
  • Despite the fact that IronFX received a below-average score in the Education category, beginner traders would benefit from the educational webinars available in multiple languages.
  • Advanced traders will have plenty of account options to choose from.

Who is IronFX For?

Beginner traders will benefit from the low minimum deposit ($50) and educational webinars. Advanced traders will have plenty of account options to choose from. The number of available forex pairs, indices, and commodities is high, which is also suitable for advanced traders.

IronFX Pros and Cons

Pros Cons
  • Seven accounts to choose from.
  • Multiple deposit and withdrawal options.
  • Islamic account option for four accounts.
  • An unregulated entity in Bermuda.
  • Weak research support.
  • High spreads for some instruments.

 

broker

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

 

About the Author

Vladimir Zernov
Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
IronFX Main Features
☑️
Regulations
FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa)
🗺
Supported Languages
English, Spanish, German, French, Arabic, Russian, Portuguese, Japanese, Chinese, Czech, Polish, Korean, Italian
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
💵
Min Deposit
$100
💹
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA)
🖥
Trading Desk Type
Bank, ECN, STP
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Check if...
unknownIronFX accepts clients from your country:
Choose your country:

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

IronFX Full Review

Trust

3.6
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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IronFX has entities that are regulated by CySEC, FCA, and FSCA. The broker also has an unregulated entity based in Bermuda, which led to a below-average score in our rating.

IronFX Regulations

IronFX operates under four entities:

IronFX license record on CySEC
IronFX license record on CySEC

Why is It Important to Know Where Your Broker Subsidiary Is Regulated?

Each regulator has its requirements for brokers, which may differ materially. Traders must understand these differences to evaluate whether the broker suits their needs.

In the IronFX case, traders will likely choose the entity based on their location. For example, EU-based clients who open an account with Notesco Financial Services Ltd will benefit from the oversight of CySEC, a Tier 1 regulator.

Traders who open an account with Notesco UK Limited will benefit from the oversight of FCA, which is also a Tier 1 regulator. Meanwhile, clients who open an account with Notesco (SA) Pty Ltd will be protected by the regulatory oversight of FSCA, a Tier 2 regulator.

It should be noted that most global clients will likely open an account with Notesco Limited, which is an unregulated company registered in Bermuda.

All entities hold clients’ accounts segregated from the firm’s accounts, which means that clients’ funds are safe in case the broker has financial problems.

IronFX also offers negative balance protection in all entities. Negative balance protection means that clients cannot lose more money than they have in their accounts.

We have summarized key aspects of the broker’s entities in terms of regulation and safety in the table below:

Notesco Financial Services Ltd Notesco UK Limited Notesco SA Pty Ltd Notesco Limited
Country/Region CySEC (Cyprus) FCA (UK) FSCA (South Africa) Bermuda
Regulation Tier 1 Tier 1 Tier 2 Unregulated
Segregated Funds Yes Yes Yes Yes
Negative Balance Protection Yes Yes Yes Yes
Compensation Scheme Up to €20,000 Up to £85,000 No No
Standard Leverage Up to 1:30 Up to 1:30 Up to 1:500 Up to 1:1000

Is IronFX Safe to Trade With?

IronFX has entities regulated by Tier 1 regulators (CySEC and FCA), a Tier 2 regulator (FSCA), and an unregulated entity registered in Bermuda. All entities hold their client’s funds separately from the company’s funds and offer negative balance protection. Clients of Notesco Financial Services Ltd (CySEC) and Notesco UK Limited (FCA) are also protected by the compensation schemes offered by regulators. Traders should note that Notesco Limited (Bermuda) is unregulated.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available.

The key legal documents can be found in a separate section of the company’s website. These documents include Terms of Business, Privacy Policy, and Anti-Money Laundering Policy.

At the same time, it should be noted that the information about all company’s entities is not readily available on the IronFX website. To learn about other entities, traders should go to the Notesco website.

To get information about available accounts and typical spreads, traders should visit the account types and spread comparison pages.

In summary, our findings indicate that IronFX can be regarded as having a below-average level of trust and stability due to a combination of the following factors:

  • One of the four entities is unregulated.
  • Traders must do some digging to find information about all entities.
  • More than 12 years in business, which speaks to the stability of the company .

Fees

3.5
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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IronFX received a below-average score in the Fees category due to high spreads for Oil, Dax, and Dow Jones.

IronFX Trading Fees

For this review, we tested the IronFX Standard Account. In this trading account, IronFX charges spreads and swap/rollover fees. Spreads are variable and depend on the liquidity situation in each instrument at a certain point in time. Swaps fees can be found in the MetaTrader platform.

Traders should note that IronFX offers various types of accounts. Most of these accounts are spread-based, so traders will not have to pay a commission. Two accounts are commission-based.

IronFX Spreads

We tested the spread on the IronFX standard account during the London open at 8am UK time and just after the US open at 2.45pm UK time. These are the most actively traded times.

Instrument Live spread AM Live spread PM
EURUSD 0.9 1.1
GBPJPY 3.9 3.6
Gold (XAUUSD) 48 38
WTI Oil 0.07 0.06
DAX 30 5.5 4.5
Dow Jones 30 9 10
Apple n/a 0.31
Tesla n/a 0.53

IronFX spread levels vary greatly between instruments. For example, spreads for Gold and Apple are low. Spreads for EUR/USD, GBP/JPY, and Tesla are medium. Meanwhile, spreads for Oil, Dax, and Dow are high.

In this light, traders will have to do their homework and check spreads for all instruments that they are trading. Depending on individual preferences, IronFX will be a good deal for some traders, while others (like traders who are focused on Oil, Dax, and Dow) may want to check other options.

Swap Fees

Instrument Swap Long Swap Short
EUR/USD -9.96 1.01
GBP/JPY 1.26 -12.98

The swap fees for EUR/USD are medium, while the swap fees for GBP/JPY are low. Please note that there is a major difference between swap long and swap short rates in the instruments we measured. This factor should be taken into account when trading, as swap fees impact your performance.

Are IronFX Trading Fees Good?

IronFX received a below-average score in the Fees category in our rating. The spreads we measured were low for some instruments, medium and high for others. Due to the big difference in the spread levels between various instruments, traders should monitor the spreads for the instruments they want to work this and decide whether IronFX suits them.

Non-Trading Fees

IronFX has a 3% “no trading” fee, which is applied in case the trader deposits and withdraws funds without ever making a trade. There is no inactivity fee, so your account will not be charged if you are not trading for several months after making your previous trade.

Platforms and Tools

4.8
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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IronFX received a high score for Platforms and Tools in our rating as it offers the highly popular MetaTrader 4 platform. The WebTrader version is also available.

IronFX Desktop and Web Platforms

In this review, we tested the MetaTrader 4 platform. MetaTrader 4 is a well-known platform that offers a wide range of indicators and timeframes for technical analysis. MT4 is offered by various brokers, so many traders have some experience with this platform.

In general, MT4 charts are easy to configure even for novice traders after some prep work, and they surely have enough options for advanced traders who could also download and install additional indicators if needed.

MetaTrader 4 Desktop
MetaTrader 4 Desktop

General Ease of Use

lMT4 is a very popular trading platform that suits beginners and advanced traders alike. While beginners may have some work to do to get accustomed to the platform, the information is readily available on the web, both in text and video forms, so those willing to study trading will face no material problems with MT4.

MT4 offers customizable watchlists and charts, which could be tailored to traders’ needs. The trading platform also provides copy trading and automated trading features. Traders who are new to the platform will need to spend some time learning the ropes, but the navigation is logical, so it would not be a problem.

Charts

MT4 offers:

  • 51 indicators
  • 31 drawing tools
  • 9 timeframes

Both beginners and advanced traders will have plenty of options to choose from when developing their trading strategy.

Indicators include:

  • Trend indicators
  • Oscillators
  • Volumes
  • Bill Williams
  • Custom indicators

Available time frames include 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, and monthly. Some platforms offer a wider range of timeframes, but the number of timeframes provided by MT4 is more than sufficient for practical purposes.

MT4 also supports objects:

  • Lines
  • Channels
  • Gann Tools
  • Fibonacci Tools
  • Shapes
  • Arrows

Please note that there are no Elliott Waves, an essential indicator for many pro-level traders. This indicator could be purchased from third parties.

Each chart could be displayed as a bar chart, a candlesticks chart, and a line chart. While candlesticks are generally more popular among traders as there is an abundance of candlesticks patterns used to make trading decisions, other types of charts also have their fans.

Orders

MT4 provides access to main order types that you will need when trading:

  • Market order, which is used to buy or sell the instrument at the current marketplace. This order is used when a trader wants to establish a position as fast as possible. Typically, this order is necessary when the instrument’s price begins to move quickly. The main risk of this order is that you pay a spread, which is the difference between the bid price and the ask price.
  • Limit order, which is used to buy or sell the instrument at a preset price, or better. This order is used when the trader wants to establish a position at a certain level and is not willing to pay current market prices. Using limit orders is a good way to control risks because the trader controls the price that will be paid. In case of a fast breakout, the limit order may be used as an “upgraded” market order when the limit price is placed above the current market price.
  • Stop loss order, which is used to exit the position when the price is moving in the wrong way. This order is triggered when the price reaches a specified price point.
  • Trailing stop order, which is used to set a stop order that will move in case open position trends in the right direction. This order is used to protect a trader’s profits if the market direction reverses.

IronFX Mobile App

IronFX offers the MT4 versions for Android and iOS. In this review, we tested IronFX Mobile App for Android.

General Ease of Use

The MT4 mobile app is rather easy to use. It provides charts, quotes, account balance info, economic calendar, news, and other tools to provide traders with an opportunity to make informed trading decisions.

The mobile app does not provide all the options offered by the desktop version, but it is sufficient enough to satisfy the needs of traders who must make their decisions on the go. The app is intuitive so traders should not have problems with it. Also, there are many videos and tutorials available on the web in case you have questions about certain features of the app.

Devices

IronFX offers the MT4 version for iOS and Android.

Charts

MT4 mobile app offers:

  • 30 technical indicators
  • 24 drawing tools
  • 9 timeframes
  • 3 chart types

This selection of options is more than sufficient enough for mobile-based trading. Typically, the mobile app is used when the trader does not have access to the desktop platform but needs to monitor the market and open positions. While the app is helpful in certain circumstances, it cannot beat the speed of work that could be achieved using the desktop platform, which is the primary solution for active trading.

Orders

In an MT4 mobile app, you can set market orders, limit orders, and stop orders. Trailing stops are not available on mobile trading terminals.

Tradable Instruments

4.9
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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IronFX received a very high score for Tradable Instruments in our rating as the broker offers a high number of forex pairs, commodities, and indices.

IronFX provides access to 84 forex pairs, 7 FX futures, 31 commodities, 149 stocks, 33 indices, and 32 cryptocurrencies. The number of available forex pairs is high. It should be noted that IronFX offers a high number of minor and exotic forex pairs. In addition, traders have access to 7 forex futures.

The broker’s commodity offering is also strong. It includes commodity futures and spot contracts. The number of available indices is also high and includes spot indices and index futures.

The number of available stocks is medium. Traders will have access to U.S. stocks, UK stocks, as well as several stocks from European markets.

The cryptocurrency offering includes pairs with different currencies, including U.S. dollar, Japanese yen, British pound, and euro.

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. In this light, CFDs are very popular in short-term trading.

What Can You Trade with IronFX?

  • 84 forex pairs. Traders can work with popular pairs like EUR/USD and GBPJPY, as well as exotic options like AUD/PLN (Australian dollar/ Polish Zloty) or EUR/CZK (Euro/ Czech Koruna).
  • 31 commodities. The list includes WTI Oil, Natural Gas, Corn, Copper, Coffee, and other commodities.
  • 149 stocks. Traders have access to popular names like Amazon, Apple, and Tesla.
  • 33 indices. Major indices like S&P 500 and Nikkei 225, as well as less popular indexes from Italy, Portugal, and Poland are available.
  • 32 cryptocurrencies. As mentioned above, crypto pairs with various currencies are available for trading.
Major forex pairs available at IronFX
Major forex pairs available at IronFX
Forex Shares
EUR/USD | GBP/JPY | AUD/PLN Amazon | Apple | Tesla
Indices Cryptocurrencies
S&P 500 | Nikkei 225 | Italy 40 BTC/USD | DOGE/JPY | ETH/GBP
Commodities
Corn | Copper | WTI Oil

IronFX offers plenty of assets to choose from. The number of available forex pairs is high, so traders interested in this segment should take a closer look at what IronFX has to offer.

The selection of indices and commodities is also rich and includes both spot and futures instruments.

The number of available stocks is medium. Traders who are mostly interested in stocks may take a look at other options available at the marketplace.

IronFX also provides access to cryptocurrency pairs, including rather exotic options like XRP/JPY and ETH/GBP.

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

Customer Support

4.5
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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IronFX provides support via online chat, phone, and e-mail. IronFX received a high score for Customer Support in our rating due to professional and timely responses and multiple supported languages.

IronFX Customer Support Test

We have contacted IronFX customer support several times through the online chat. We asked about deposit and withdrawal methods, as well as about the amount of the minimum deposit. The support team reacted quickly, and their answers were clear and professional.

Chat support at IronFX.
Chat support at IronFX.

Deposit and Withdrawal

5.0
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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IronFX clients can deposit and withdraw money from their accounts via Visa, Mastercard, China Union Pay, Wire Transfer, Bitwallet, FasaPay, Digital Assets, Iron FX Card, Perfect Money, and PaySafe Card.

IronFX received a high score in the Deposit and Withdrawal category in our rating. The company provides a sufficient number of deposit and withdrawal options. There are no fees for deposits and withdrawals, except for fees for bank wires under $300. There are plenty of base currencies to choose from, which is good for clients.

IronFX Deposits

Deposit Method Base Currencies Fees Processing Time
Visa AUD, CAD, CHF, CZK, EUR, GBP, HUF, INR, JPY, PLN, RUB, USD No 24 hours
Mastercard AUD, CAD, CHF, CZK, EUR, GBP, HUF, INR, JPY, PLN, RUB, USD No 24 hours
China Union Pay USD No 24 hours
Wire Transfer USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUF, INR No Up to 3 working days
BitWallet AUD, EUR, JPY, USD No 24 hours
Digital Assets BTC, USDT No 24 hours
FasaPay USD, IDR No 24 hours
Perfect Money EUR, USD No 24 hours
Open Banking EUR No 24 hours
Paysafe Card AUD, CAD, EUR, GBP, SEK, USD No 24 hours
IronFX Cards EUR, USD No 24 hours

IronFX provides a sufficient number of options to deposit your funds into the account. Please note that IronFX does not provide all the details on their website. You can contact the support team to learn more about deposit options before you open a real account. Clients should also note that their payment providers may charge fees.

IronFX Withdrawals

Withdrawal Method Base Currencies Fees Processing Time
Visa Account base currency No 24 hours
Mastercard Account base currency No 24 hours
China Union Pay Account base currency No 24 hours
Wire Transfer Account base currency No Up to 3 working days
BitWallet Account base currency No 24 hours
Digital Assets Account base currency No 24 hours
Fasa Pay Account base currency No 24 hours
Perfect Money Account base currency No 24 hours
IronFX Cards Account base currency No 24 hours

For withdrawals, IronFX clients can use most of the options that were used to deposit funds. The withdrawal is made in the base currency of the account. There are no withdrawal fees for all options except for wire transfers under $300, but clients’ payment providers may charge such fees.

As usual, the maximum amount that could be withdrawn by each payment method cannot exceed the amount you deposited. The only exception is the wire transfer, which should be used to withdraw profits. This is done to comply with the AML standards.

Account Types and Terms

4.9
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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IronFX received a high score for the Account Types and Terms category in our rating. The broker offers seven types of accounts. The Islamic Account option is available for four types.

IronFX clients can choose between floating/fixed spread Standard, Premium, and VIP accounts. Live Zero Fixed Spread account offers zero spreads, but traders will have to pay a commission.

Traders also have access to three STP/ECN accounts.STP means “straight-through processing”, when orders’ are routed to liquidity providers. ECN means “electronic communication network”, when the network is used to match orders between buyers and sellers. A hybrid STP/ECN model is a combination of STP and ECN, which improves customer service.

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. Typically, the trader should focus on base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit size.

What Account Types does IronFX Offer?

Standard Account Premium Account VIP Account Live Zero Account STP/ECN No Commission STP/ECN Zero Spread STP/ECN Absolute Zero
Commission No No No Yes No Yes No
Spread Floating from 1.8 Fixed to 2.2 Floating from 1.6 Fixed to 1.8 Floating from 1.4 Fixed to 1.6 Fixed to 0 From 1.7 0 0
Minimum Deposit $50 $50 $50 $50 $50 $50 $50
Leverage Up to 1:1000 Up to 1:1000 Up to 1:1000 Up to 1:500 Up to 1:200 Up to 1:200 Up to 1:200
Islamic Account Yes Yes Yes Yes No No No
Demo Account Yes Yes Yes No No No Yes

IronFX clients will choose from seven types of accounts. Clients should note that both fixed and floating spreads are available for Standard, Premium, and VIP accounts.

Due to the wide range of available accounts, beginner traders would likely prefer to consult with the company’s support team. Advanced traders have plenty of options to choose from Standard, Premium, and VIP accounts offer leverage of up to 1:1000. Live Zero Fixed Spread account comes with a leverage of 1:500. STP/ECN accounts offer leverage of up to 1:200.

What is CFD leverage?

CFD Leverage allows you to avoid paying the full value of the position. Instead, you pay a deposit, which is called margin, while the remaining funds are borrowed.

In the IronFX case, different accounts offer different leverage. Traders should note that all maximum leverage levels in the company’s accounts are high. Using the leverage of 1:200 is risky, while trading with a leverage of 1:1000 is extremely risky. Traders should always pay attention to their leverage levels and use appropriate risk management techniques.

IronFX Account Opening Process

To open an account with IronFX, click on the “register” button on the main page of the IronFX website.

  • Step 1: Enter your first name, last name, e-mail, country of residence, and mobile phone.
  • Step 2: Choose the trading account, base currency, and leverage.
  • Step 3: Create your password.
  • Step 4: Once your account has been created, verify your identity by providing a driver’s license, passport, or national identity card.

What is a demo account?

A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to human psychology, as traders find themselves under pressure when the real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform, but do not spend too much time on the demo.

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

Research

3.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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IronFX received a low score in our rating due to a lack of trading ideas, written analysis & opinion, and third-party tools.

Like most brokers, IronFX offers an economic calendar. Traders also have access to financial news. The news is published on a daily basis and contains the key highlights of the trading day. It may also contain a short video or some technical analysis.

It should be noted that the broker lacks written analysis and trading ideas. Such analysis and ideas are useful for beginner traders who can watch the whole process of the creation of a trading plan.

Education

3.6
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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IronFX received a below-average score in the Education category in our rating due to the absence of trading courses and platform tutorial videos, as well as a low number of articles. At the same time, the broker offers a wide range of trading webinars, available in multiple languages.

Currently, IronFX content is mostly focused on beginner traders. However, advanced traders may also find something interesting in the videos.

The cornerstone of the content is live weekly webinars, which are available in several languages, including English, Spanish, Portuguese, Farsi, and Italian. Webinars include topics like “Technical Analysis 101”, “Fundamental Analysis 101”, “Support & Resistance” and other beginner-oriented topics. The webinar project is new, and the current schedule suggests that more advanced topics like “Multi Time Frame Analysis” and “Advanced Moving Average Strategies” are coming soon. IronFX also has educational podcasts.

Webinars at IronFX.
Webinars at IronFX.

The Bottom Line

Founded in 2010, IronFX has been in business for more than 12 years, indicating that it is a stable broker and offers a high level of transparency. Traders can find the necessary legal documents on its website. The information about account types and typical spreads is also readily available. Traders should note that IronFX offers many account options, so it may be a good idea to ask some account-related questions to the support team.

IronFX offers the highly popular MetaTrader 4 platform. All accounts have multiple base currency options. For some accounts, Bitcoin is available as a base currency.

Traders can open an account with four entities: Notesco Financial Services Ltd (Cyprus), Notesco UK Limited (UK), Notesco (SA) Pty Ltd (South Africa), and Notesco Limited (Bermuda).

Available instruments include forex pairs, commodities, indices, stocks, and cryptocurrencies. The number of available forex pairs, commodities, and indices is high, while the number of available stocks is medium.

Among the instruments we have tested, the spreads for Gold and Apple are low, while the spreads for Oil, Dax, and Dow are high.

For beginner traders, the broker offers a minimum deposit of $50 and educational webinars, which are available in multiple languages. Advanced traders will benefit from multiple account options and multiple base currencies.

FAQ

Where is IronFX based?
IronFX is based in Cyprus.

Is IronFX safe?
Clients of Notesco Financial Services Ltd will benefit from the oversight of CySEC, a Tier 1 regulator. Notesco UK Limited is regulated by FCA, a Tier 1 regulator. Clients of Notesco (SA) Pty Ltd will benefit from the oversight of FSCA, a Tier 2 regulator. Notesco Limited is unregulated.

How does IronFX make money?
IronFX makes money from spreads, commissions, and swaps that it charges traders.

How do I deposit funds in an IronFX account?
Traders can deposit money via Visa, Mastercard, China Union Pay, Wire Transfer, BitWallet, FasaPay, Digital Assets, IronFX Card, Perfect Money, and PaySafe Card.

What is the minimum deposit for IronFX?
The minimum deposit is $50.

How do I withdraw money from IronFX?
Traders can withdraw money via Visa, Mastercard, China Union Pay, Wire Transfer, BitWallet, FasaPay, Digital Assets, IronFX Card, and Perfect Money.

How long does it take to withdraw money from an account at IronFX?
Withdrawal can take up to 3 working days if you are using Wire Transfer.

How much is the maximum leverage at IronFX?
The maximum leverage is 1:1000.

How can I open an account with IronFX?
To open an account with IronFX, go to the main page of the broker’s website and click on “register.”

What platforms does IronFX offer?
IronFX offers MetaTrader 4 platform.

Is IronFX suitable for beginners?
IronFX has a minimum deposit of $50, which is good for beginner traders. The broker also offers educational webinars for beginners.

Does IronFX offer a demo account?
Yes, IronFX offers a demo account.

broker

IronFX is a trade name of Notesco Limited. Notesco Limited with registration number 51491 is a company registered in Bermuda. Note: Services displayed in this website are provided by Notesco Limited and not by any affiliate entity. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. IronFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.

See IronFX Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
2010
Regulations
FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa)
Publicly Traded
No
Number Of Employees
570
Trading Desk Type
Bank, ECN, STP
Trading platforms
MT4
Restricted Countries
United States, Cuba, North Korea, Syria, Sudan
Supported Languages
English, Spanish, German, French, Arabic, Russian, Portuguese, Japanese, Chinese, Czech, Polish, Korean, Italian
Min Deposit
$100
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA)
Deposit Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller, E-wallets, FasaPay, SafetyPay, PerfectMoney, China UnionPay
Withdrawal Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller, E-wallets, FasaPay, PerfectMoney, China UnionPay
Cryptocurrencies
Bitcoin, Dogecoin, Ethereum
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
No
Managed Account
No

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