IronFX has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money. In the very same announcement, the company also showed that they have closed offices in a number of countries including China, Nigeria and Russia. The Forex Peace Army has set up a special thread with instructions for traders who are having trouble withdrawing their money from IronFx. To deposit your money is easy, but to withdraw it, they do everything to block you, supposedly illegible documents, then it’s not the right email address, then it’s not the right amount.

Spreads drop significantly on major Forex pairs between Micro and VIP tiers but minor pairs show no variation. In addition, tiers apply only to forex, with all account types paying similar spreads and/or commissions when trading CFD or spot instruments. Several pages not properly linked to the main site announce the availability of cryptocurrency trading but our reviewer found no contract, spread, or fee information. IronFX is a globally recognised award-winning CFD broker offering a great range of trading products and services to retail traders and institutional investors.

Fast account opening and market execution, based on my experience I would say that IronFX are one of the better brokers available right now. Excellent broker, I deposited into my real account and it only took a couple of hours. After that I started trading and made my withdrawal request instantly. I have been trading with IronFX in spot metals for over a year now, so far no complaintswith the company, organised infrastructure, great returns & multiple platforms to work upon.

Trading Conditions

Finally, we found IC Markets to provide better mobile trading apps. The broker’s account diversity is impressive, with a tiered structure that includes floating vs. fixed and commission vs. no commission fee schedules. They round out their services with a variety of professional accounts, introducing broker branding and a portfolio management program. They recently added cryptocurrency coverage to a broad selection of forex, spot, and CFD trading products. Earlier in 2018, IronFX announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date hasn’t been announced.

It is still very difficult to operate with this broker because the spreads are too high. For a person who is just starting to operate it is very difficult to generate profits… Also this broker uses real people to influence you to work with the broker where you they join a vip telegram group and send you signals all day long and very few end in profit… These influential people are in charge of brainwashing you by promoting luxuries and profits that they have generated through trading, but this is only to influence people to invest in the broker… For those of you who are of Muslim faith, I am pleased to say that the broker does have swap-free accounts which comply with Sharia law. It’s great that they serve clients from all different backgrounds and with different religious beliefs.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. If you prefer a fixed spread for your trading strategy then you could consider a no commission account. These tend to have higher marked up spreads but you do not pay a commission on trades. It is actually quite rare to find a broker that has fixed spread account which is often a choice for traders who are running scalping strategies that need consistent spreads at all times. These tools can be used to assist with finding potential trading opportunities, analysing the markets, risk management and more. I was especially impressed with the market analysis and research tools.

Choose your Deposit Booster

The experiences about customer service, deposit, withdraw are not so efficient. For example, you need to wait for several hours when using credit card deposit. I’ve send the documents asked to get my account verified but made a big mistake of depositing 1K € before getting my account verified. IronFx claims that the company asked Cysec to help them investigate cheating clients. The FPA is astonished that anyone at that broker would have the nerve to make such an obviously false statement.

We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. The broker provides you with top class global customer support in over 30 different languages. Friendly representatives are hand to answer all of your questions 24 hours a day, 5 days a week via phone, email, and online chat. The responses arrive in a prompt and efficient manner from my experience. You can buy and sell CFDs on spot commodities with best-of-market spreads and spot execution without having additional foreign exchange exposure. There are all of the major agriculture and energy commodities that you would expect to find with a top broker like IronFX.

Getting money into the account was a bit tricky but I got help from their support person and it was fine in the end. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.

Both IC Markets and IronFX offer MetaTrader 4 .IC Markets and IronFX both offer copy trading. Withdrawals from IronFX are always done with the same method used for the deposit. IronFX does not charge deposit fees, but banks may for wire transfers. Credit and debit cards have a maximum transaction of $50,000 and have a withdrawal fee of up to 1.5 euros. Deposits and withdrawals with Skrill cannot exceed $50,000, and withdrawal fees stand at 1 percent (up to $10,000).

It is very user friendly with an abundance of implemented trading tools for efficient markets analysis and trade management. MT4 has a short learning curve whilst there are plenty of online tutorials that can help to familiarise new users to the platform. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. IronFX are renowned for their high-quality trading execution which they consistently look to improve by investing in technology advancements. The trading process is automated which keeps manual intervention to a minimum and thus helps to maximise efficiency and effectiveness.

For ironfx review specific to IronFX, you can find support 24/5 with a live chat and the option to request a callback from any page on the website. There is also email contact information for client funding queries as well as email and phone support for the trading desk, customer support, and IronFX contracts, the last of which also has a fax number. The IronFX FAQ section should be enough to answer most questions as it has categories for opening accounts, client funding, trading, and the trading platform. Minimum EUR/USD spread is listed at 0.7 pips while average spread is listed at 1.2 pips. These numbers may be deceiving, given the broad variety of accounts, fees, and routing choices.

IronFX Academy provides impressive educational features for smaller and less-skilled traders. The portal would benefit from more advanced topics but the narrow focus on newer traders makes sense as a marketing tool. A webinar section was locked, leading to a live account application, while the seminar section contained just two non-English programs in MP4 format. IronFX is a Cyprus-based broker providing access for speculators to the retail foreign exchange market. The company holds licenses from the Financial Conduct Authority in the United Kingdom, the Cyprus Securities and Exchange Commission in Cyprus and the Financial Services Board in South Africa. Selecting the withdrawal option tells you that the server is not available for any means of withdrawal.

Wide Range of Products

Overall my experience was fine and my review is here just to provide context. To all Muslim traders, please stay away from this scam broker as far as you can. This broker will take advantage from you whenever you get profit. Discover countless Forex Trading opportunities with 80+ currency pairs, Including Major, Minor and Exotic or trade a multitude of Commodities, Metals Indices, Shares and Futures. Improve your trading strategies with free expert training for both beginner and professional traders.

Social and copy trading options are limited, with no dedicated third-party platform. They do offer a Mirror account, but that’s a hedging tool, not a social trading interface. The website Trader’s Dashboard shows the positioning of other clients, updated hourly, but account holders will need to use Metatrader’s limited social functionality to take advantage of the information. They will tell you that you are investing in the licensed version in your country such as Ironfx.com.au in Australia, but they will put you into Ironfx.com which has no license.

IronFX review: multiple regulatory warnings and guilty votes by traders court.

Fasapay has a transaction limit of $5,000 with a withdrawal fee of 0.5 percent (up to $5). China Union has a transaction limit of 360,000 CNY with a withdrawal fee of 20 CNY. Finally, you can make a deposit via mail or over the phone without a fee. I ran the account up about 60% over 7 months, and then was able to withdraw the money fairly easily. They needed an additional document which I provided, and I got the money in my account via bank transfer in 2 days which I believe is completely fine. I don’t want to discount the experience of others here who look they’ve had a really horrible time, but just want to relay that my experience with IronFX was average.

• These products may not be suitable for everyone and you should ensure that you understand the risks involved.
• That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.
• The IronFX FAQ section should be enough to answer most questions as it has categories for opening accounts, client funding, trading, and the trading platform.

A history of fake positive reviews submitted from inside IronFx’s offices. This was after IronFx tried to claim that the CySEC investigation was to investigate cheating clients. Later, the Cyprus Consumer Protection office decided against IronFx regarding allegations of contractual unfairness.

MetaTrader 4 is a straightforward platform that allows for efficient trading for all skill levels. Beginners can stick to the regular version of MT4, the WebTrader, or the mobile version. The MT4 Advanced platform will be the choice of advanced traders who want these enhanced charting tools, which include the built-in EA ability, automated strategies, live monitors, and more. The Personal Multi-Account Manager is also highly advanced, making it possible to trade several MT4 accounts at the same time and offer the same advanced charting tools. The broker has licensing from the Cyprus Securities and Exchange Commission , the Financial Conduct Authority , the Australian Securities and Investments Commission , and the FSP .

IC Markets vs IronFX Comparison

Those who are not fond of MT4 for some reason will not want to use IronFX since this is the only supported platform, but most traders should be very happy with its offerings. Beginners will appreciate the IronFX Academy with its educational materials while even advanced traders can benefit from seminars and webinars. The range of MT4 platforms supported by IronFX allows this platform to appeal to traders of all skill levels. Beginners may stick to MT4 Standard while experienced traders will use MT4 Advanced and professionals or money managers will use the Personal Multi-Account Manager. IronFX offers a great fit for traders at low to medium skill levels, with flexible account types that suit many investment and trading styles.

https://forexhero.info/ is an award-winning global online trading broker that offers STP/ECN services to retail and institutional investors alike. I found the broker to have rapid trade execution speeds and competitive costs. You can trade a great selection of over 300 financial instruments with a wide variety of account types to choose from, spreads as low as 0.0 pips and support in over 30 languages. I think they can be a good choice for beginners as there are plenty of educational resources and free demo accounts so that you can practice trading online. The minimum deposit required to open an account is only $100 which is great when you consider the industry leading trading platforms and conditions they offer.

IronFX

Based on our thorough annual assessment, IC Markets offers better pricing overall for traders. It takes just $100 to open a Micro account, increasing to $2,500 for a Premium account and $20,000 for a VIP account. Well-documented account subheadings outline fee schedules and side-by-side comparisons for floating vs. fixed, commission vs. no commission, and dealing desk vs. direct interbank trading. All withdrawals incur fees that vary among credit cards, electronic tellers, and bank transfers/locations. Metatrader 4 and 5 for Android, iOS, and Windows Mobile provide easy integration with desktop and tablet versions. They also offer the free IronFX Research app, which has no trading functions.

The trading platforms used by IronFX include MetaTrader 4, Multi-Account Manager for PC, and WebTrader 4, with the latter two being just variations of MT4. As such, IronFX does not have its own proprietary platform but does offer the full range of MetaTrader 4 platforms. In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. Broker research materials have been neglected, generating the biggest black mark in our review. The free IronFX Research app allows clients to look at stock market data, financial viewpoints, and videos in an easy-to-use format.

Because of the size of the broker, IronFX can offer competitive pricing. Spreads vary from as low as 0.5 to 1.7 for live floating spreads with EUR/USD or 1.6 to 2.8 for fixed spreads, depending on account type. ECN and Zero Spread accounts have no spread and charge a commission based on the number of lots traded instead. Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts. Where many brokers only offer a few accounts, IronFX have a great range of different trading accounts to cater to the needs of many different styles of traders. There are accounts with floating spreads, fixed spreads, no commission and spreads starting from zero.

Or international phone number, forcing potential charges for calls made to Cyprus or other satellite offices. You can trade spot metals with no currency exposure, some of the most competitive spreads and industry leading trading conditions. Clients are supported in over 30 languages, 24/5, and can access their personal trading account from MT4 on desktop or trade on the go. In addition, the broker offers daily, updated educational and market news delivered by a multi-lingual professional research team. Entering the financial markets with IronFX is simple, transparent and supportive for all levels of investors.