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IronFX Review & Rating [yyyy]

IronFX Review & Rating 2022

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Is IronFX a reliable Forex broker? At AtoZMarkets.com, we have a readers-first policy. It means we always put our readers' safety as a priority in our business line, not just satisfying ourselves with a broker's public information. Therefore, we use direct interaction with the broker, public opinion analysis, live and demo account testing, and even the accuracy of the price chart. Read our IronFx review.

IronFX is a specialized broker that offers traders access to global CFD and FX markets. With the world-class MT4 trading platform. Moreover, the variety in account types, low spread, PMAM, and MT4 multi-terminal makes the broker unique. 

Ironfx review

image credit: IronFx

However, there is more to know about this broker. Is it wise to make an account here? Continue reading AtoZ Markets' full IronFX broker review to learn more.

Overview

Company
9/10
Trust
8/10
Trading Platform
8/10
Account Types
9/10
Costs
9/10
Customer Support
8/10
Regulation
9/10

Company

9 /10

IronFX complies with international regulatory standards, and different entities in the group are authorized and regulated by the FCA (UK), ASIC (Australia), FSCA (South Africa), and CySEC (Cyprus).

IronFX is an award-winning forex broker with ten different trading platforms and more than 300 trading instruments in forex, spot metals, futures, shares, spot indices, and commodities.

IronFX clients can benefit from round-the-clock coverage delivered by one of the world's largest and most accomplished global client coverage teams. The IronFX customer-centric model offers top trading functionalities through its platforms combined with the broadest suite of products at the best pricing and execution. Daily market news feed and insightful research give clients access to the best information and data to make informed trading decisions.

Trading Products

IronFx Products

The IronFX customer-centric model combines trading functionality with the best pricing, execution, and liquidity. There are more than 300 financial instruments, including the forex, spot metals, stocks, futures, spot indices and commodities with best-of-market spreads from just 0 pips. You can access all instruments from a single account from any of the 10 Platforms.

Forex

IronFX facilitates clients the opportunity to trade forex through multiple trading platforms. Traders can trade more than 120 forex pairs, including majors, minors, and exotics 24 hours a day, five days a week. IronFX offers the tightest spread in the market, starting from 0 pips with the leverage starting from 1:1 up to 1:30.

Spot Metals

IronFX offers CFDs on spot metals in both USD and EUR. A 1% margin is required for spot metals benefiting from the industry's best trading conditions.

Spot Indices

IronFX allows you to invest in various market segments across the globe, with tight spreads and low margin requirements. Therefore, you can get the advantage of their exceptional volatility and robust market liquidity, with simple, intuitive platforms.

Spot Commodities

IronFX enables you to start commodity trading online, via a wide range of different commodities available for trading.

Futures

There are many CFDs on equity indices, agricultural commodities, base metals, oil, and energy products. Clients can take advantage of the most comprehensive range of trading instruments to diversify their portfolio.

Shares

In the IronFX platform, you can take advantage of strong liquidity and reliable execution to trade some of the most well-known and liquid shares.

Pros and Cons of IronFx

Pros

  • FCA, ASIC, FSCA, and CySEC regulated Brokers.
  • Lots of trading instruments including forex, metals, indices, and shares.
  • World-class MT4 trading platform
  • Built-in VPS hosting opportunity.
  • Variety in trading account types to cover traders' needs.
  • IronFx is that the website is easy to navigate.
  • It's also very user-friendly, which makes it a great choice for beginners.

Cons

  • Do not have MT5 and cTrader.
  • The research and news resources are a bit stale.
  • IronFx does not have integrated cryptocurrency trading.

Bonuses and Promotions

IronFX rewards and promotes new traders by providing deposit bonuses to any new traders who register an account with us. You can begin trading and experimenting with new techniques and trading styles by opening an account and depositing funds. You can benefit from some unique opportunities if you are willing to take advantage of Forex trading bonuses. If you're a beginner, make sure you've familiarized yourself with the market by opening a demo trading account and learning how to trade and manage risk.

100% Unlimited Sharing Bonus

See the below two examples to under 100% deposit bonus.

Example A

You Initial Deposit: US$10,000

Bonus: (Initial Deposit * Bonus) = (US$10,000 * 100%) = $10,000

Starting Equity: US$20,000

You made Profit: US$10,000

Your Balance (after trading): US$30,000 (Profit + Starting Equity)

Your Eligible Withdrawal Amount: Balance/2 = 30000/2=15000

Example B

Your Initial Deposit: US$10,000

Bonus: (Initial Deposit * Bonus) = (US$10,000 * 100%) = $10,000

Your Starting Equity Now: US$20,000

You made Loss: US$10,000

Balance (after trading): US$10,000 (Starting Equity - Loss)

Eligible Withdrawal Amount: Balance/2 = 10000/2=5000

Trust

8 /10

Is it trustable

IronFX is a trading name of Notesco UK Limited. Notesco UK Limited is authorized and regulated by the Financial Conduct Authority (FCA No. 585561). Notesco Limited, registered in Bermuda, operates IronFX BM. 

In the unlikely event that Notesco UK Limited is unable to meet its financial obligations in respect of investment business, if you make a valid claim, you may be entitled to compensation from the FSCS in respect of your investment in IronFX. The scheme protects up to £85,000 per eligible person per regulated entity.

Moreover, in the risk disclosure section, the broker is very fair to provide reliable information regarding the risk associated with the financial market. 

Trading Platform

8 /10

Ironfx trading Platform

IronFx has the world famous MetaTrader 4 trading platform, MetaTrader 4 Web Trader, their proprietary Personal Multi Account Manager (PMAM), Virtual Private Server (VPS) Hosting upon request. They also have TradeCopier.

IronFX MT4 Trading Platforms

IronFX MetaTrader 4 is the most reliable platform used daily by traders worldwide. The platform provides the essential tools and resources needed to analyze the market and improve your trading performance. It is fully equipped with front-end terminals and back-office reporting functions.

Other features or IronFX MT4:

  • Orders, positions, equity, and online exposure management.
  • Live monitor for prices of financial instruments.
  • Advanced Charting
  • Online Streaming News
  • Activity Reports
  • 3 Different execution types.
  • Manual and automated trading.

Personal Multi-account Manager (PMAM)

Ironfx PAMM

In the Personal Multi-Account Management (PMAM) platform, you can simultaneously manage and trade on multiple MT4 accounts. The PMAM platform is one of the most flexible and advanced platforms in the industry today, used by Money Managers and professional traders alike. Some features of PMAM platform:

  • Orders, positions, equity, and online exposure management.
  • One-Click Order Entry.
  • Manage Unlimited Accounts
  • Create Multiple Funds
  • Live monitor for prices of financial instruments
  • Activity Reports

MetaTrader 4 Web Trading Platform

Ironfx Web Trader

image credit: IronFx

You can also trade on MetaTrader’s website. With account login details, orders will be executed easily with the immediate execution and waiting orders available. MT4 delivers advanced charts with nine timeframes, more than 20 integrated technical indicators, and live information.

Therefore, even if you don't have the platform installed on your PC, you can access it from the MT4 web trader. Moreover, the web trader has most of the functions that are present in the MT4 software.

Virtual Private Server (VPS)

Ironfx vps

You don't need to watch your automated transactions if you use a VPS because they can be executed even if your computer is switched off. VPS hosting from IronFX gives you the speed and security you need to trade Forex and CFDs with confidence. You may be confident that your system and transactions are always safeguarded and transmitted as rapidly as possible, eliminating delays and slippage. Join us and take advantage of our free VPS hosting, which is provided to guarantee that you get the most out of your trading with us.

IronFx VPS Specification

  • It has 2.4GHz Intel Xeon CPU with 2GB Ram
  • 30GB of HDD Storage Space
  • Microsoft Windows Server 2012 R2
  • Custom configurations available
  • Dedicated IP
  • Hosted in Secure Data Center
  • Available 24 hours

IronFx TradeCopier

IronFx copy trader

IronFx has TradeCopier. With this TradeCopier, you can begin to copy other traders, gaining access to their knowledge and expanding your own portfolio. You can also be a provider if you have good expertise in trading.

TradeCopier has two options:

  1. Strategy Follower

A trader can follow an experienced trader if he doesn't have the expertise or time to trade on the forex market? He can begin duplicating their Strategy Provider(s)' strategies and building their own portfolio.

  1. Strategy Provider

If you're an experienced and successful trader, you can join IronFx TradeCopier as a Provider.

With IronFX, you'll have access to all of the tools you'll need to get started, as well as the ability to interact with traders from all over the world. As a savvy trader, you can now put your trading experience to good use by allowing others to learn from your trading tactics.

Your Strategy Followers can help you earn more money.

Account Types

9 /10

IronFX has three account types that include ECN, fixed, and floating based. Traders from beginner to advanced levels have access to one of the most transparent trading environments in the industry.

Let's have a look at a short glimpse of IronFX account types:

Live Floating/ Live Fixed

In this trading account, the spread is fixed, and there is no extra trading cost like a commission, moreover, as per our finding, the spread is meager compared to the other brokers' trading account.

Standard Account

  • Spread from: 1.8 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK
  • Min Lot Size: 0.01
  • Commission: No 
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

Premium Account

  • Spread from: 1.6 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK
  • Min Lot Size: 0.01
  • Commission: No 
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

VIP Account

  • Spread from: 1.4 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD
  • Min Lot Size: 0.01
  • Commission: No 
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

Zero Spread Account

  • Spread from: 0.0 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD
  • Min Lot Size: 0.01
  • Commission: Yes
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

STP/ ECN Account

Besides the fixed and floating account, the STP/ ECN account provides a more reliable and accurate price. Let’s see the account types:

No Commission Account

  • Spread from: 1.7 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK
  • Min Lot Size: 0.01
  • Commission: No
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

Zero Spread Account

  • Spread from: 0.0 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK
  • Min Lot Size: 0.01
  • Commission: Yes
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

Absolute Zero Account

  • Spread from: 0.3 pips
  • Flexible Leverage Up to 1:30
  • Base Currency: USD, EUR, JPY
  • Min Lot Size: 0.01
  • Commission: Yes
  • Dedicated Account Manager Available: 24/5
  • Dealing Department Transaction Hotline: Yes

Costs

9 /10

IronFX has several account types from the fixed spread, floating spread, and ECN. In the floating spread account, the minimum spread found was 0.4 is EURUSD. Moreover, the fixed spread of EURUSD is from 1.6 to 1.8 in three account types. 

Moreover, in the ECN account, there are commission-based, commission-free, and absolute zero trading accounts.

Customer Support

8 /10

Customer support

The IronFX contact function is straightforward. It has an integrated contact option on the website that shows the available contact method. Moreover, the website is provided in 4 languages, but there is no FAQ section in their UK variant. Other contact details are mentioned below:

  • Phone (Customer support): +44(0)2032827777
  • Phone (Trading Desk): +44(0)2033027222
  • Email (Customer Support): [email protected]
  • Email (Trading Desk): [email protected]
  • Physical Address: Broadgate Tower, 20 Primrose Street, London EC2A, United Kingdom. 

Regulation

9 /10

Is IronFx Regulated?

Ironfx Regulations

Yes, IronFX is a regulated broker. IronFX holds licenses for various jurisdictions through its trading name Notesco Financial Services Limited (formerly IronFX Global Limited).

Brokers are supervised by the UK financial regulatory authorities, (FCA). IronFX is registered in Cyprus by CySEC.

It is also regulated by ASIC and FSCA ( the Financial Sector Conduct Authority (FSP no. 45276). IronFX has been able to meet multiple regulatory requirements which has increased its protections for its customers.

Conclusion

To conclude our IronFx Review, we can say that IronFX is an FCA regulated award-winning broker that has enormous trading opportunities from beginner to advanced traders. The MT4 trading platform and MT4 multi trading platform allow traders to take trading decisions like the institutional traders. Moreover, the PMAM account is an exciting opportunity for traders and asset managers who want to manage multiple trading accounts from a single platform.

On the other hand, the variety in the trading account type with the presence of ECN/ STP fixed and floating spread, and trading becomes more flexible and reliable among traders. We have gone through every detail of the company during our review and found the broker reliable.

However, if you want to deposit this broker, you should observe their activity and start with a smaller deposit.

Thank you for reading our IronFx review. We hope it has helped you decide if this is the right Forex broker for you. If you have any questions, please don't hesitate to comment below. We're always happy to help!

Reviewed By

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  1. Wut Mahakayanant says:

    My account number is 12112765. IronFx tried to take advantage from Muslim account by complain about SWAP free abuse.
    I am a long term trader. IronFX Live chat allow me to hold position for maximum 10 days, so I hold my position for 10 days. I always ask before trading especially exotics currency. IronFX live chat said yes, no problem.
    On October 21, 2021, After I got profit $3710, IronFX took all my profit away, and complain about my SWAP free account. ???
    To all Muslim traders, please stay away from this scam broker as far as you can. IronFX will take advantage from you whenever you get profit.
    IronFX will find a way to reverse all your profit away. It is the way they run their business.

  2. pranchin says:

    Personally, I was not very impressed by trading with IronFX. Yes, the brokerage has very profitable and interesting trading conditions, but there is still a lot to work on.

  3. eshabela patani says:

    It is clear that ironfx.com does not have any license, it does not even pretend to have a license on it's website. The problem is that they ring people up and pretend that they have a license in the client's country. They have licenses in certain countries under slightly different names but they get the client to join ironfx.com which has no license. If you try to register with ironfx.com.au the website does not have Australia in the list of countries where you reside. They will tell you that they have transferred you to the version where you reside. If you email [email protected] to clarify where you stand, they will not reply.

  4. khusiya says:

    This broker is one of the worst no support and doesn't even reply to emails looks like ironfx is scam

  5. Iris says:

    "i opted for a withdrawal using my card 3 days ago, when exactly am i getting my money? Its look like scam now for me
    "

  6. suneha says:

    Ironfx is not a reliable broker. Still waiting for my withdrawal money.

  7. ethanchloe232 says:

    Reliability is up there with the best I have experienced in my trading career.

  8. harvi sharma says:

    account manager was very helpful and helped sort out a small issue I had.

  9. Ryan says:

    Fairly good, better than the last broker In was with.

  10. Easton says:

    Concur with what others have said, no perfect broker exists but these are not bad from my experience.

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