IronFX Review 2024: Is it right for you?

IronFX Review 2024: Is it right for you? title=

This Trading Platform is available in Ukraine

3.1/5

IronFX has garnered mixed reviews from users across various platforms. Some traders have praised the broker for its diverse range of trading instruments and user-friendly platform, appreciating the access to global markets it provides. However, a significant number of clients have raised concerns about withdrawal issues and customer service responsiveness. While there are positive comments about educational resources and research tools available, complaints regarding account management and transparency seem to persist. Overall, potential clients might want to weigh the reported advantages against the drawbacks pointed out by some reviewers before deciding to trade with IronFX.

Min. deposit
$100
Website address
Demo account
Yes
Currency
AUDBTCEURGBPJPYUSD
Supported languages
AraChiEngIndPorRusSpaThaVie
Active
Yes
Payment Methods
Bank WireCredit/Debit cardsFasaPayNetellerSkrill
Pros
  • Regulated by multiple authorities
  • Wide range of instruments
  • MT4 and MT5 platforms
  • Various account types
Cons
  • Inactivity fee
  • No US clients
  • Limited crypto offerings
Awards
Best Customer Service Provider 2015, Most Trustworthy Forex Broker 2014
Bonus
Variable promotions and bonus offers
Instruments
CommoditiesForexFuturesIndicesMetalsStocks
Min. trade price
Depends on account type
Regulated By
ASICCySECFCA (UK)FSCA
MetaTrader 4
Yes
MetaTrader 5
Yes
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
Yes
Autochartist
Yes
eSignal
No
STP Account
No
ECN Account
Yes
DMA Account
No
MAM Account
Yes
PAMM Account
No
LAMM Account
No
Demat Account
No
Mobile Apps
Yes
Margin Trading
Yes
Volatility Index
No
Spot Trading
No
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
No
P2P Trading
No
Negative Balance Protection
Yes
VPS Hosting
Yes
Tournaments
No
Demo Competitions
No
Managed Accounts
Yes
Market Maker
Yes
Auto Trading
Yes
Social Trading
No
Copy Trading
No
Trade Signals
Yes
Islamic Account
No
Inactivity Fee
Yes
Guaranteed Stop Loss
No
Stock Exchanges
Not applicable
Commodities
Gold, Silver, Oil, and others
Forex Trading
Yes
Forex GBPUSD Spread
Variable
Forex EURUSD Spread
Variable
Forex EURGBP Spread
Variable
Forex Assets
Over 120 currency pairs
Crypto Spread
Variable
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
BTC, ETH, LTC, XRP
Binary Options
No
Payout Percent
Not applicable
Expiry Times
Not applicable
Ladder Options
No
Boundary Options
No
Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 3.1,
according to 658 reviews

4.5 Stars
Arne Steuber
Arne Steuber
stars
ph
Tell me that I’m not the only one who thinks trading major currencies is much easier than minor and exotic pairs. Major currencies have big trading volumes and it’s always easy to predict at what side the price will go. Luckily, when I need to hold positions for a long time, IronFX doesn’t charge high swap commissions.

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Luke Farrell
Luke Farrell
stars
gb
The trading conditions here are quite favorable which makes it very profitable to trade any asset of my choice. I trade gold and it’s profitable.

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Lisa King
Lisa King
stars
gb
I’ve been using it via IronFX for over a year now, and it’s been very smooth. No major lags and freezes of orders during news events. I like how all my orders always execute instantly.

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Egan Marcas
Egan Marcas
stars
gb
No hasstle withdrawals are becoming a rare thing, which is a bit concerning. At no point did they ask me to complete any conditions before I can make a payment request or anything of the sort. I did have to resort to using bank wire though. Well, at least there is no commission on that

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Steve Bailey
Steve Bailey
stars
gb
Let me start with a recommendation… this is a reliable platform that runs smoothly without any weird surprises or hiccups. The account options are their strong suit. There are really interesting account types, innovative and unique, with creative trading conditions. And of course if you are not into this, the standard account is doing an excellent job. Also, I must admit that I was impressed by their trading academy… I wish there were brokers like this when I was starting out with my trading journey, it would have made everything easier for me

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Sandra
Sandra
stars
gb
MetaTrader 4 is not really something you expect to see from a broker in 2025, especially as the only platfrom option. But what it really excels at is algo trading, which is exactly what I use ironfx for. Tip: if you want to try and do the same, the VPS account is much better suited for running bots since you don't have to the program on your PC constantly running

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Content

IronFX is a leading online brokerage platform established in 2010, boasting a range of financial services. With over 1.5 million registered users, IronFX has gained a strong market presence. It is regulated by the Financial Conduct Authority (FCA) and The Australian Securities and Investments Commission (ASIC), ensuring compliance and security.

Notably, IronFX prioritizes client education and support, offering valuable resources such as educational materials, market analysis, and round-the-clock multilingual customer assistance.

unbiased-2023-review-of-ironfx-trading-platform

Without a doubt, IronFX remains at the forefront of top brokers, delivering a reliable and unparalleled trading experience. Its quality is underscored by positive feedback from satisfied clients. Let’s take a look at what users like and dislike about the broker, to help you decide if it may be worth checking out for yourself.

What is IronFX?

IronFX is a brokerage company that originated in Cyprus in 2010; after years of operating in the financial market, it has expanded into 180 of the 195 world countries. The rapid growth of the broker can be associated with several strategies implemented in the early days.

At the moment, IronFX has thirty (30) offices in several locations, including South Africa and the United Kingdom (UK), which provides convenient access.

IronFX Regulatory Compliance

The role of the regulatory authorities is non-negotiable when discussing the reliability of any broker. For those who find the information about IronFX’s security insufficient and are searching for other “green flags” that stand as strong proof of reliability, I’ve compiled a list of authorities under which IronFX is under their supervision.

  • FCA (FCA No. 585561). The regulator for financial management and supervision in the UK.
  • CySEC (License No. 125/10) – Cyprus Securities and Exchange Commission.
  • ASIC (AFSL No. 417482) – Australian controller for exchanges and securities.
  • FSCA (FSP No. 45276) – Financial Sector Conduct Authority, the regulator in South Africa.

There are also compensation schemes provided for UK and Cyprus traders; the former has up to £500,000 in protection through the Financial Services Compensation Scheme (FSCS), and if you’re a Cyprus trader, you are eligible for up to €20,000 in protection through Cyprus’ Investor Compensation Fund (ICF).

Unlike Ayondo, IronFX has ensured to dot the i’s and cross the t’s concerning regulation. Recognized and notable authorities have licensed them across continents like Europe and Africa. This shows the broker’s commitment to transparency to all its clients.

IronFX Trading Terms

Just looking at IronFX’s trading terms, it’s easy to tell why its clients and users are so loyal to the broker. Some of the features that users love:

  • The minimum deposit amount is $100.
  • Transactions – 0.01 lot.
  • Leverage – 1:1000
  • 24/7 multilingual service.
  • The main currencies of trading accounts are the euro, Australian and American dollars, Swiss francs, Russian rubles, British pounds, and Japanese yen. You might find other base currencies there as well.
  • The affiliate program works effectively.
  • Full list of supported languages: Arabic, Chinese, Czech, English, French, German, Italian, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese.

Tradable Assets & Instruments

If a broker checks the boxes of security/regulatory and trading terms, the next thing I search for is the number of assets and Instruments available.

For IronFX, there are just six assets: forex, metal, indices, commodities, futures, and shares.

tradable-assets-instruments

Different instruments are available for trade on the forex market, including currency pairs and Contracts For Difference (CFD). As a client of IronFX, you can trade precious and base metals such as gold CFDs, silver CFDs, and platinum CFDs on metal. Overall, there is a wide range of instruments, with over 300 trading instruments.

The trading conditions on each of these pairs are customer-centric, and the market execution is fast.

wide-range-of-products

Regardless of what asset class you choose to trade, every beginner or experienced trader needs to realize that it carries some risk and needs to trade cautiously by employing proper risk management and understanding how the market works.

Account Types Available On IronFX

Two different types of accounts are currently offered on IronFX: Live floating/live fixed and STP/ECN trading accounts. 

Under each account type, there are subsets of the accounts below with different benefits attached. Under Live floating/live fixed account, there are:

  • Micro
  • Premium
  • VIP, and
  • Zero Fixed.

While for STP/ECN trading accounts, clients get to select from three account types:

  • Zero commission
  • Zero spread, and
  • Absolute Zero.

The difference between both account types is that the floating/live fixed uses instant execution with re-quotes, and STP/ECN trading accounts and market execution, so no re-quotes are involved. Each of these accounts has flexible leverage and tight spreads as well.

account-types-available-on-ironfx

User Security On IronFx

Security is paramount and arguably one of the most important features of any financial platform; this is largely due to the many personal details that are potentially vulnerable, not to mention your assets.

For the latter, regarding users’ funds,  IronFX claims safety is ensured as it keeps all of its user’s funds in a segregated account that a third-party bank controls. When I did more digging, I found that IronFX relies on well-recognized banks. The banks used by IronFX are some of the most reliable, such as Bank of America Merrill, BNP Paribas, Raiffeisen Bank, and others.

You should know that in a situation where IronFX experiences bankruptcy, you can be guaranteed to receive your funds back as a result of the company’s engagement with the aid of the Compensation Protection Fund, which protects a trader’s assets by specifying a return window in which the broker must return funds if requested.

The time frame is stipulated via a bilateral agreement.

The security measures above are enough to boost confidence in you on how the company has been very deliberate over the security of its users. It’s also not surprising that the IronFX uses advanced technology such as the Security Sockets Layer (SSL) and has an anti-money laundry system which is industry standard.

Organizations that control the activities of participants in the global financial market check their reporting documentation, capitalization, development rates, and other indicators by which you can learn about the financial status of this service, its reliability, and its development prospects in the near future.

Training and User Education

One thing you’ll appreciate about IronFX is its deep commitment to educating its users with several resources for traders. On the site, users are loaded with an extensive library of resources that go into in-depth how to trade for traders regardless of their understanding of how the market works.

IronFX’s site has a special segment referring to IronFX School, with multiple other pages that treat specific topics:

  • Trading Ebook
  • Academy
  • VIP room
  • Market Trend Report
  • Seminars
  • Webinars
  • Podcasts
  • Economic Calendar
  • Financial News
  • Trading videos
  • Glossary

There’s also a particular section called the “blog,” which covers general topics about the financial market and how to trade, such as technical analysis, forex trading technology, what’s a central bank, etc., and reports and summaries of events in the market.

The fact that content on this site is reviewed occasionally to ensure they are up-to-date and contains concise information needed is very useful to help you develop your trading style, decisions, and trading strategies.

The website also has a Demo option for users to practice their theoretical trading skills knowledge to help improve and hone their skill set and competitive edge. You can open a range of products and larger positions as well, but you need to be aware of the risk warning of doing this and how it can affect your trading mentality since there are potential losses.

Positive reviews from users attest to this. Scouring through the internet, there are close to no negative reviews about the training section of the broker; I’ve seen far more 5-star reviews.

training-and-user-education

Supported Trading Platform

The support for a trading tool or platform by a broker is key as it offers flexibility and, more importantly, increases the potential for use by advanced and beginner traders.

IronFX doesn’t relent in this end, just as it didn’t with others mentioned above. IronFX has many platforms plugged into it, with some serving different purposes.

Meaning you will find a suitable trading platform such as MetaTrader 4 with advanced charts available, a copy/social trading platform such as TradeCopier, a trade management platform called PMAM, and finally, VPS hosting. I find this to be a great approach to lure more traders.

In total, the number of supported trading platforms listed on the website includes IronFX Mobile Trading App, IronFX Web Trading App, MetaTrader 4 (MT4), WebTrader, Virtual Private Server (VPS) Hosting, Personal Multi Account Manager (PMAM), and TradeCopier.

Some of them serve entirely different services. Honestly, this is a good selection of trading terminals any trader can work with.

supported-trading-platform

Further reading

IRONFX BROKER: TRADING CONDITIONS

To work in the market of currencies, raw materials, securities, cryptocurrency, or other new/promising products, it’s unnecessary to slave away at a computer for 10 hours a day or be glued to your mobile device.

To be successful, you need the ability to analyze relevant market information and find new facts explaining the change in the exchange rate and the value of the leading financial assets. Depositing and withdrawing should be seamless, too; the customer experience should be top-notch, and the promotion and affiliate scheme should be helpful to you.

Further reading

Deposit Replenishment and Cash Withdrawal

Multiple depositing and withdrawal methods are integrated into IronFX, leaving users to find the best method for them. It’s worth noting that with this broker, each payment method comes with a deposit or withdrawal fee charged on every transaction.

When depositing, several methods are used, such as bank wire transfer, credit and debit cards, IronFX cards, Skrill, Neteller, China Union, FasaPay, etc. Generally, the processing time is fast for some of this.

IronFX deposit and withdrawal illustration

To withdraw takes a different approach from depositing; however, the withdrawal process might be delayed, sometimes up to seven days. The only available option here for withdrawing is through a bank wire transfer. The minimum withdrawal wasn’t made obvious from the information on the site.

Further reading

Customer Support

The customer support on IronFX is a significant component of the company’s smooth operation. You can reach out to the broker via email, with IronFX promising to respond to every email within 24 hours of business days; clients can also use the live chat support to lodge complaints or make inquiries or use the FAQ to find answers to questions.

Users with questions or concerns may also place a call to the official Telephone contact or reach out to the company via its social media community on Facebook, Instagram, Twitter, and YouTube.

The support team is on the ground to answer all your questions 24/5 and in an impressive 30 different languages. The reach of the customer support team is wide range, and the response time is quick.

customer-support

Further reading

Promotion and Affiliate Programs

IronFX opens the opportunity for you as a user to earn from its exclusive trading competition that comes with cash prices and unique rewards.

In its last trading competition, tagged “The Global Trading Race,” which spanned three months, luxury cars were won, and cash prizes from a huge prize pool of $500,000 were shared with winners.

Other bonuses come from depositing into a trading account; there’s the 100% unlimited sharing bonus that doubles the initial deposit, the 40% Power Bonus up to $4,000 that gives an exclusive booster, and the 20% Iron Bonus up to $2,000 that gets the most out of the Iron Bonus.

promotion-and-affiliate-programs

promotion-and-affiliate-programs-1

This opportunity allows traders using IronFX to earn both from trading via the platform and through the bonus packages – a genius move, if you ask me. Several brokers are now taking bonuses seriously, including ExpertOptions.

Further reading

All You Need To Know About IronFX

With over 1.5 million registered users on the company’s platform, it is easy to tell that IronFX has top-notch marketing savvy; this includes its several partnership deals with prominent football clubs like Barcelona and Manchester United. Under the range of markets and trading assets, you’ll find many complex instruments for active trading on the platform.

The innovativeness of the IronFX platform sets it apart from others. Also, the brokers have strong regulatory backing from authorities such as Financial Conduct Authority (FCA) and The Australian Securities and Investments Commission (ASIC), which instill user confidence. Factors like the absence of commission fees and the low spreads have also assisted in the firm’s expansion.

The forex broker, which is accessible to both Android and iOS users, offers six different asset classes with hundreds of instruments to trade. It offers a lucrative affiliate scheme, has good training resources, supported trading platforms, trading account types, and a great customer support team. IronFX stands out from many brokers operating in the online trading arena.

Further reading

Pros And Cons

Here are some of the noticeable trading features I found using IronFX:

Pros 

  • The platform is regulated by authorities of different tiers, which indicates reliability.
  • A very robust and comprehensive training resource to educate users on how to use the platforms and the financial market.
  • Supports multiple languages that help facilitate and onboard multiple users to the platform.

Cons 

  • Navigating through the website for information can be a hassle, especially when the information is not consistent across the site.

Further reading

Frequently Asked Questions 

Is IronFX a Legitimate Broker?

Based on the years of play in the industry and IronFX ticking important checkboxes like advanced security implementation, regulatory compliance with tier-1 authorities, account features and types, and robust training, one can say they are a legitimate broker. However, it’s critical to be cautious. If you encounter any issues, reach out to their customer support team to guide you.

How To Withdraw on IronFX?

There is one available option for making withdrawals of profits on IronFX, which is via bank wire transfers. This limits the prospect of IronFX.

How many Account Types are Available one IronFX?

There are two types of accounts on IronFX, with subsets of accounts under them. You choose a live floating / live fixed account or STP/ECN trading account. If you’re starting your trading journey, you should consider IronFX.

How Fast Can I Withdraw From IronFX?

The speed of withdrawing funds from IronFX depends on the selected withdrawal method. Some methods can take up to 7 working days. It’s highly recommended to read about the terms and conditions between your method chosen and IronFX.

How many instruments can I trade on IronFX?

There are 300 tradable instruments available on IronFX, giving you a wide range of choices. These assets are divided between six asset classes, including forex and indices.

What are the trading hours for IronFX?

IronFX operates a 24-hour service from Monday to Friday. However, trading may be halted during holidays or other events.

Further reading

Final Thoughts

IronFX has set a clear standard of what a broker should aim for. It plays by the rules of regulatory authorities, which has boosted the confidence of its users, grown its client base, and built a formidable reputation that puts it on the global stage.

final-thoughts-ironfx

From having a well-designed site that supports multiple trading platforms to different account types with competitive spread. Whether you’re a novice, intermediate, or professional trader, IronFX is the go-to choice that satisfies your needs. Positive reviews from the internet might indicate you need to try the broker out. There are negative reviews as well, but they are minimal.

It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.

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