IronFX
Who is IronFX?
IronFX is an internationally recognised and regulated forex trading broker, offering services to more than 1.2 million clients around the world. Founded and established in 2010, the company has grown significantly, catering to traders from 180 countries and providing 24/5 support in over 30 different languages. Clients can access more than 300 tradable instruments from a total of six asset classes, including forex, metals, indices, commodities, futures, and shares. IronFX is fully authorised and regulated by several of the world’s leading industry bodies, including the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). The broker has been the recipient of more than 40 prestigious international investing and trading awards, further enhancing its global reputation as a reliable and trustworthy company.
Commissions and Fees
IronFX offers a great deal of transparency when it comes to properly displaying and listing all the various costs involved when trading with this broker. As with most other brokers, the exact commissions and fees vary, depending on the account type chosen and the exact trading volume. It is currently free to open a live trading account, while there are no fees for fund deposits. Meanwhile, the spread amount ranges from 1.4 to 1.8 pips for the Live Floating/Fixed accounts, with no commission. The Zero Fixed account offers spreads from 0 pips, while the STP/ECN accounts have a spread amount between 0 – 1.7. IronFX does not apply any penalty charges for inactive accounts, but there is a 3% account fee for clients who have yet to place a trade in their account.
Trading Accounts
Traders can quickly and easily open a forex trading account in a matter of minutes, with IronFX offering a solid range of account options, well-suited to the specific needs of traders with different experience levels. Clients can choose from Live Floating, Live Fixed, and STP/ECN accounts, with spreads starting as low as 0 pips and leverage up to 1:1000. IronFX has all the bases covered, including the option for traders to register for more than one trading account within the client portal upon signup.
Education and Research
This broker excels in this regard, offering a comprehensive trading school, packed with a diverse selection of educational tools and resources. There is something for everyone, from beginners to advanced-level, professional traders, with dedicated sections being tailored to meet the needs of individuals of all knowledge levels. Some of the key resources include an economic calendar, financial news and blog section, forex strategies, explainer sections for newbies and professionals, videos, ebooks, and a glossary of key terms. Each resource is skillfully crafted by IronFX’s research and content team, who offer their expert insight on a range of trading topics, with the goal of helping traders to be better informed on all matters concerning the markets.
Pros and Cons
The broker gives clients unlimited access to its trading school, with a variety of resources on the educational program being made available free of charge. There is also an impressive list of instruments that clients can trade on, totaling more than 300 across six asset classes. The promotions section is also very good, with many current bonus options available, and there is a maximum leverage of up to 1:1000 on offer with certain trading accounts. One minor negative is that the MetaTrader 5 (MT5) trading platform is currently not offered, but the best forex trading platform, MetaTrader 4 (MT4), is available.
About IronFX
IronFX is a respected international forex broker, with an excellent suite of educational resources, tradable instruments, account types, platforms, and a competitive commissions and fees structure. Compared to some of its nearest competitors, this broker has an impressive promotions section, with numerous deposit boosters and bonuses on offer to new clients. The company regularly runs live trading competitions, with IronFX clients being entered into draws to win exclusive prizes and experiences, as well as cash rewards.