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IronFX Broker Review

Author Author:  Alison Heyerdahl Published: September 6, 2019
Editor Editor:  Chris Cammack Updated: September 18, 2023

Last Updated On September 18, 2023

Alison Heyerdahl
Broker Score
3.64 3.64 / 5
Rated #64 of 77 Recommended Brokers
🏦  Min. DepositGBP 50
🛡️  Regulated By
💵  Trading Cost 
USD 22
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only MT4 platform supported. IronFX is regulated by CySEC, FCA, ASIC, and the FSCA.

Last Updated On September 18, 2023

Alison Heyerdahl

60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

Our verdict on IronFX

With oversight from some of the top international regulators, enhanced platform functionality, and a wide range of flexible account choices, IronFX appeals to traders looking for a well-regulated MT4 broker with a low-deposit Cent Account and a large number of Forex pairs.

Founded in 2010, IronFX maintains regulatory oversight from CySEC, ASIC, the FCA, and the FSCA, an impressive list of highly regarded regulators.  Trading is offered on multiple assets, including commodities, indices, metals, futures, shares, and over 80 Forex pairs, a larger range than is typically seen at other brokers.

Platform support is limited to MT4, but IronFX offers an upgraded package labeled MT4 Advanced, which transforms MT4 into a state-of-the-art trading terminal. Traders can also choose between nine live flexible accounts, including a low-deposit Cent Account that appeals to beginners who prefer to make smaller trades measured in micro-lots. 

A drawback for beginner traders considering IronFX is the lack of educational and market analysis materials available, forcing traders to self-educate with other third-party platforms.

🏦  Min. DepositGBP 50
🛡️  Regulated By
💵  Trading Cost 
USD 22
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Trust Rating
111115/ 5
Trading Conditions
111003/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
1110.503.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Welcome Bonus

Account Information

Base Currencies
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK
Number of FX Pairs
83
Crypto Pairs
0
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Account Name
STP/ECN Absolute Zero
Trading Desk
Commission
On select STP/ECN Accounts
EUR/USD
0.00 pips
GBP/USD
0.00 pips
USD/JPY
0.00 pips
Negative Balance Protection

Company Details

Company Name
Notesco UK Limited
Founded
2010
Website Language
English, Arabic, Japanese, Portuguese
Support Language
English, Japanese, Arabic, Portuguese, Chinese
Office Locations
Cyprus, United Kingdom, South Africa, Australia

Pros

  • Well regulated
  • Tight spreads
  • Wide range of assets

Cons

  • Expensive withdrawals

Is IronFX Safe?

With a long history of responsible behaviour, some of the strongest international regulation, we consider IronFX to be a safe broker to trade with.

Founded in 2010 and headquartered in Limassol, Cyprus, IronFX is the trading name of Notesco Financial Services.  According to its website, IronFX states that it is home to 1,200 000 traders from 180 countries. 

IronFX has oversight from every major regulator in the world, including the Financial Conduct Authority(FCA), the Cyprus Securities and Exchange Commission (CySEC),  the Australian Securities and Investments Commission (ASIC).  It is also regulated by the Financial Services Commission Authority (FSCA) of South Africa and is registered in Bermuda.  See below for more details:

  • Notesco Ltd (UK) is authorised and regulated by the FCA in the United Kingdom, license 585561.
  • Notesco Financial Services Limited is authorised and regulated by CySEC in Cyprus, license 125/10.
  • Notesco SA (Pty) Limited is authorised and regulated by the Financial Sector Conduct Authority (FSP no. 45276).
  • Notesco Pty Limited is authorised and regulated by ASIC in Australia, AFSL no. 417482.
  • Notesco Limited is registered in Bermuda under the Bermuda Monetary authority (BMA) with registration number 51491.

UK residents will be trading under the subsidiary, Notesco Ltd (UK), authorised and regulated by the FCA in the United Kingdom.  Known as one of the strictest regulators in the world, the FCA ensures that brokers segregate all client funds, offer clients negative balance protection and that brokers regularly submit externally audited statements.  

In line with the strict regulatory environment under which IronFX operates, all client funds are kept segregated from operational accounts and all European traders will have negative balance protection. As IronFX operates instant execution accounts, there remains the potential for conflict of interest; but the availability of market execution accounts should satisfy any concerned traders.

IronFX has excellent credibility within the industry, having won over 40 awards since its inception.  Awards include Best Online Trading and Financial Services Company 2020 (AI Global), International Business Magazine 2020, Most Outstanding Online Trading Solutions Provider 2020 (AI), Most Trustworthy Global Broker 2019 (Global Venture), Best Global Online Trading Platform 2017 (M&A Awards), Best Online Forex Trading Platform 2017 (International Finance Awards), and Best of the Best in European Finance 2016, among others.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
FCA
ASIC
FSCA
Market Maker
ECN/DMA
2010
Cyprus, United Kingdom, South Africa, Australia
Inactivity Fee

Overall, because of its strong regulation with some of the best international, a long history of responsible behaviour, and wide industry acclaim, IronFX is considered a safe broker to trade with.

Trading Fees

IronFX’s trading fees are significantly higher than most other brokers, and it has a complicated account structure.

Unlike most other Forex brokers that offer trading on up to three account types with tighter spreads linked to higher minimum deposits, IronFX offers trading on seven different accounts that have a very complicated account structure. IronFX offers four instant execution accounts and three market execution accounts, with various spread/commission combinations.  To make matters more complicated, traders can choose between fixed or floating spreads on the instant execution accounts.  

Additionally, the overall trading costs are higher than average across all seven accounts, though the accounts themselves do offer more benefits tied to higher minimum deposits. Minimum deposits are higher than average across all the account types too, with most accounts requiring at least 500 USD.  

For some unknown reason, IronFX does not publish the minimum deposits associated with each account, and it was very difficult to extract this information from customer service.  

In order to establish how low or high IronFX’s trading costs are, we compared the various account types to each other, and then to the average charged by other brokers.  

IronFX’s costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission. 

When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. 

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

IronFX Accounts

As you can see from the table above, in most cases IronFx’s trading costs are built into the spread – though the Zero Fixed Account and ECN Zero Spread Accounts carry an 18 USD commission in exchange for spreads of 0 pips on the EUR/USD. Additionally, it should be noted that the average trading costs at most other brokers tend to be 9 USD or lower.  Trading costs on all account options at IronFX are significantly higher than this average – at between 11 and 22 USD per lot traded.

Swap Fees

The final trading cost to consider at IronFX is the swap rate charged on positions held overnight.   Interest is paid (or received) for each night a position is held.  In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded.  IronFX’s swap rates are published on its website for each financial instrument, and the exchange is automatically converted to the base currency of the trading account of the client.  

The following calculation can be used to determine the swap rates:

Swap (FX) = tick size (0.00001 for 5 decimals) * volume * contract size * number of days

Traders can access the current swap rates following these steps:

  1. Right-click on the desired symbol in the Market Watch window and select Symbols.
  2. Select the desired currency and then click on Properties located on the right side.
  3. Scroll down until you see Swap Long and Swap Short.

For example, a swap of 5.96 USD is charged per lot on a long position of EUR/USD and 1.95 USD on a short position. 

On the whole, the ongoing trading costs are higher than average across all seven accounts, with most accounts requiring a minimum initial deposit of at least 500 USD.  The only exception is the Standard Live Floating/Live Fixed Spread Account with a minimum deposit of 100 USD, but with spreads of between 1.8 and 2.2 pips on the EUR/USD, it will be unpalatable for most traders.  

IronFx’s Non-trading Fees

IronFx’s non-trading fees are high compared to other brokers, including expensive withdrawals.

Although IronFX does not charge fees for deposits, it charges high fees for some withdrawal methods.  For example, there is a fee of 50 USD for withdrawals via bank transfer lower than 300 USD. For more on IronFX’s deposit and withdrawal methods and fees, click here.

In addition, should there be no activity for 12 months, a 50 USD annual fixed administrative fee will be charged, and should the account balance be below 50 USD, the remainder of the balance will be taken and the account closed.

Also, if there are only deposits and withdrawals on the account with no trading activity, IronFX will take up to 3% of the account balance as an administrative fee to cover costs incurred.

Overall, IronFX’s non-trading fees are high when compared to other brokers.

Opening an Account at IronFX

The account opening process at IronFX is fast, fully digital, and hassle-free.

All British traders are eligible to open an account at IronFX as long as they meet the minimum deposit requirements.  These are:

Live Fixed/Floating Spread Accounts:

Micro Account: 50 USD

Standard Account 100 USD

Premium Account: 1000 USD

VIP Account: 10000 USD.

Zero Fixed Account: 500 USD

STP/ECN Accounts:

No Commission Account: 500 USD

Zero Spread Account: 500 USD

Absolute Zero Account: 500 USD

The four-step account opening process is fully digital and accounts are generally ready for trading in one day.  IronFX offers individual, joint, and corporate accounts, but we will focus on opening an individual account.

How to open an account at IronFX:

  1. Click on the ‘Register’ button and register your email address and password.  Additionally, traders need to select the account type, base currency, bonus, and level of leverage.  
  2. Next traders are will have to wait for the IronFX personnel to confirm the account.
  3. The third step requires depositing money through the client portal.  
  4. The last step is to confirm your identity in order to make withdrawals.  IronFX will need two documents from you:
    1. A photo ID (passport, driver’s license, or national ID card) and; 
    2. A secondary ID (a bank or utility statement with your full name and address dated in the last three months).

We suggest you read IronFX’s risk disclosure, customer agreement, and terms of business before you start trading.

Compared to other similar brokers, IronFX’s account opening process is fast, generally hassle-free, and fully digital. 

IronFX Accounts

While IronFX offers more account types than most brokers, they have both high minimum deposits and high trading costs – making them unsuitable for beginner traders and unpalatable for experienced traders.

IronFX supports two execution models and a range of account options – four instant execution accounts and three market execution accounts.  Maximum leverage is up to 30:1 for major pairs on all accounts.  Minimum trade sizes are 0.01 lots, and all clients have access to a dedicated account manager.  Additionally, IronFX offers a low-deposit Micro Account for beginner traders who don’t want to risk large sums of capital.   IronFX allows all trading strategies, including hedging, scalping, and algorithmic trading, and it also offers Islamic swap-free accounts. 

Trading conditions at IronFX are generally poor, with high minimum deposit requirements on most account options and high trading costs across all seven accounts. Spreads average 2.2 pips (EUR/USD) on its entry-level account, which requires a minimum deposit of 50USD. Most other brokers will offer an average spread of 1 pip (EUR/USD). 

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Account Types
Min. Deposit
Max. Leverage
Min. Spread
Commission
Live Standard Fixed Spread
USD 50
30:1
2.20
Spread Only
Account Details
Live Standard Floating Spread
USD 50
30:1
1.80
Spread Only
Account Details
Live Premium Fixed Spread
USD 1000
30:1
1.80
Spread Only
Account Details
Live Premium Floating Spread
USD 1000
30:1
1.60
Spread Only
Account Details
Live VIP Fixed Spread
USD 10000
30:1
1.60
Spread Only
Account Details
Live VIP Floating Spread
USD 10000
30:1
1.40
Spread Only
Account Details
Live Zero Fixed
USD 500
30:1
0.0
18 USD / lot
Account Details
STP/ECN Absolute Zero
USD 500
30:1
1.10
Spread Only
Account Details
STP/ECN No Commission
USD 500
30:1
1.70
Spread Only
Account Details
STP/ECN Zero Spread
USD 500
30:1
0.0
18 USD / lot
Account Details

It is difficult to find any advantages with IronFX’s accounts, either for experienced or beginner traders. As mentioned above, the entry-level account has both higher initial and ongoing costs than similar accounts at other brokers. In addition, IronFX’s other accounts request very high minimum deposits and don’t deliver the lower ongoing trading costs that more experienced traders would be looking for.  See below for details on IronFX’s accounts:

  • The Live Floating/Live Fixed Accounts: These are instant execution commission-free accounts with Standard, Premium, and VIP tiers.  Leverage is up to 30:1 and traders can choose between floating or fixed spreads:
     
    • Standard Account: With a minimum deposit of 100 USD, fixed spreads start at 2.2 pips on the EUR/USD or 1.8 pips on the floating-spread option, which is much wider than other similar brokers.  Accounts are denominated in USD, EUR, GBP, AUD, JPY, BTC, PLN, and CZK.  Note the Standard Account is available as a Micro Account with a minimum deposit of only 50 USD.
    • Premium Account: The minimum deposit requirement on this account is 1000 USD. Fixed spreads start at 1.8 pips on the EUR/USD and start at 1.6 pips if one chooses the floating spread option. Again, these spreads are wider than other similar brokers. Accounts are denominated in USD, EUR, GBP, AUD, JPY, BTC, PLN, and CZK.
    • VIP account: The minimum deposit requirement on this account is 10,000 USD. Fixed spreads start at 1.6 pips on the EUR/USD and start at 1.4 pips if one chooses the floating spread option.  Accounts are only denominated in USD.  Even with the high minimum deposit, traders will be disappointed with these wide spreads. 

  • The Live Zero Fixed Spread Account also uses instant execution, but spreads are fixed at 0 pips for the EUR/USD, and a commission of 18 USD round turn/lot is charged for major FX pairs and 23 USD round turn/lot on minor pairs.  These commissions are some of the highest in the industry. Accounts are denominated in USD and EUR.

STP/ECN Accounts:

These accounts are market-execution accounts with a leverage of up to 30:1:

  • The STP/ECN No Commission Account is a market execution account, with a minimum deposit requirement of 500 USD.  No commission is charged, and fees are included in the spreads, which start at 1.7 pips on the EUR/USD.  Again, even though traders have direct market access, these spreads are unusually wide, and the minimum deposit requirement is high. Accounts are denominated in EUR, USD, JPY, and BTC.

  • The STP/ECN Zero Spread Account offers spreads as low as 0 pips on the EUR/USD, and a commission is charged per lot traded. The commission is 18 USD per lot on major pairs, and 23 USD per lot on minors.  The minimum deposit requirement on this account is also 500 USD.  Again, the commissions on this account make it unpalatable for most traders.  Accounts are denominated in USD, EUR, and JPY.

  • The STP/ECN Absolute Zero Account is a fully customisable market execution account, where 1.1 pip average spreads on the EUR/USD are offered with no commission in exchange for a minimum deposit of 500 USD. Accounts are only denominated in USD, EUR, and JPY. This account offers the lowest ongoing trading costs of all the accounts at IronFX, but with a spread of 1.1 pips on the EUR/USD, is still wider than those found at other brokers. 
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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
IronFX
111003/ 5
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK
2.20 pips
USD 22
0.00 pips
0.00 pips
0.00 pips
USD 0
Axitrader
11110.54.5/ 5
AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD
1.00 pips
USD 10
0.00 pips
0.10 pips
0.10 pips
USD 0
FxPro
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0

Demo Accounts

IronFX offers demo accounts so traders can test the platform and practice strategies. There are four demo accounts available:

  • Demo Floating Spread
  • Demo STP/ECN Zero Spread
  • Demo STP/ECN Absolute Zero
  • Demo STP/ECN No Commission

Each demo account imitates actual trading conditions and comes loaded with 100,000 of the base currency of your choosing.  Demo accounts expire after three weeks of inactivity and cannot be reactivated.  Most other brokers have demo accounts that don’t expire, so this is an unusual move on the part of the broker.

Overall, the ongoing and initial costs on all of IronFX’s account types are higher than other similar brokers, making it difficult to find any advantages for either beginners or more experienced traders.  

Deposits and Withdrawals

IronFX offers a wide range of deposit and withdrawal methods, and while no fees are charged for most methods, withdrawals by bank wire transfer are expensive.  Additionally, IronFX does not publish any details about deposits or withdrawals on its website.

In line with Anti-Money Laundering rules, IronFX does not process payments to third-party accounts. All withdrawal requests from a trading account will be funded to a bank account or source in the trader’s name.   

IronFX offers a range of account funding and deposit methods, including local bank transfers, debit cards/credit cards, Bitcoin payments, and various eWallets.  Deposits are free on all funding methods and are processed within 24 hours, which is around the industry average.  However, it takes 48 hours on average for IronFX to process withdrawals, which is longer than most other brokers.  IronFX charges admin fees on some withdrawal methods in addition to a fee of 50 USD for bank transfers under 300 USD. 

Traders should note that IronFX does not publish the list of deposit and withdrawal methods it supports – one has to register an account to find this information.  This is unusual and not consumer-friendly, as most brokers publish their withdrawal and deposit fees on their websites.  

IronFX supports the following payment methods:

  • Credit cards
  • Debit cards
  • Bank Transfer
  • Skrill 
  • Neteller
  • Digital Assets
  • Bit Wallet
  • Fasapay
  • Perfect Money

Overall, IronFX offers a wide range of deposit and withdrawal methods, but it charges a fee of 50 USD for bank transfers under 300 USD, which is relatively expensive.  Additionally, it is not transparent about its deposit or withdrawal fees. 

Base Currencies (Trading Account Currencies)

IronFX allows accounts to be denominated in 13 different base currencies, depending on the account chosen.  This is a wider range than is typically seen at most other brokers.

Accounts can be denominated in the following base currencies: EUR, GBP, USD, JPY, PLN, AUD, BTC, IRX, ADA, PMA, CZK, ETH, CHF.

IronFX offers accounts denominated in GBP, which means that UK residents will not have to pay currency conversion fees.  Additionally, because IronFX offers such a range of trading account currencies, British traders can open multiple trading accounts with different base currencies to avoid paying fees on every trade, especially if trading on an instrument with a different base currency, such as the EUR/USD. 

Trading Platforms

With support for Metatrader 4 only, IronFX’s trading platform choice is severely limited compared to most other brokers, but it offers the MT4  Advanced.

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Broker
Platform Choice
Copy Trading
Platforms
IronFX
111104/ 5
Axitrader
111104/ 5
FxPro
111115/ 5
FxProEdge

IronFX offers the standard out-of-the-box MT4 platform together with an upgraded package labeled MT4 Advanced. The added functionality transforms MT4 into a state-of-the-art trading platform, allowing access to the industry’s latest trading features such as permitted automated strategies and built-in ability to use EAs (Expert Advisors).  A multi-page PDF is available to explain the added functionality.

As a trading platform, MT4 remains one of the most popular for its wide community support, trade execution speeds, charting tools, and customisability. Additionally, traders can take their own customised version of the platform with them should they decide to migrate to another broker.

IronFX MT4

Mobile Trading Platforms

As IronFX only offers MT4, on mobile as well as desktop, the mobile trading experience is limited compared to other brokers.

IronFX only offers MT4 on a mobile trading platform, but it is available for both Android and iOS. Although there is slightly limited functionality compared to the desktop version of the platform, with reduced timeframes and fewer charting options, traders will still have access to analytics with technical indicators, graphical objects, and a full set of trading orders.  

Additionally, spotty mobile connections can lead to a poor overall trading experience. Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions.

Trading Tools

IronFX’s trading tools are limited compared to what’s available at other brokers.

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Broker
Autochartist
Trading Central
Trading View
IronFX
Axitrader
FxPro

IronFX offers a VPS service, various trading calculators, and PMAM accounts:

VPS: IronFX offers VPS hosting through third-party providers free of charge for accounts above 5,000 USD. For those accounts which do not meet that threshold, a 30 USD monthly fee will apply.  VPS enables you to upload and run your MT4 Expert Advisors and cAlgo Robots 24 hours a day, without needing to keep your trading terminal running.  VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges.

PMAM: A Personal Multi-Account Manager (PMAM) is available, an in-house version of the MT4 Multi Account Manager (MAM) and the Percentage Allocation Management Module (PAMM) usually seen at other brokers. PMAM accounts are those on which a manager trades on the behalf of investors.  

IronFX also offers a range of trading calculators, including a currency converter, a pip calculator, a margin calculator, and a profit calculator.

Overall, IronFX’s tools are severely limited and its VPS service requires a high minimum deposit. 

Trading Instruments

IronFX’s range of financial instruments to trade is limited compared to most other brokers, but it offers over 80 Forex pairs.

IronFX offers tradable assets across five categories, including Forex, metals, indices, shares, and futures:

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Financial Instrument
Number of Assets
Leverage
Commodities
9
20:1
Stock CFDs
145
10:1
Forex
83
30:1
Futures
26
20:1
Indices
16
20:1
Metals
6
20:1
  • Forex: IronFX offers 83 forex pairs for trading, an extraordinary range compared to most other brokers.  These include majors, minors, and exotics.  Leverage is up to 1:30 on all accounts for major pairs.
  • Indices: IronFX offers trading on 16 indices, which is a combination of the shares of some of the largest and globally acknowledged companies. These include EU50Cash, JPY335Cash, Aus200Cash, and the US100Cash, among others.  Leverage is up to 1:20 on indices.
  • Share CFDs: IronFX only offers trading on 145 share CFDs, which is much fewer than most other brokers. The selection available includes some of the major US, French, German, and Spanish shares on the market. Leverage on share CFDs is up to 1:10.
  • Future CFDs: IronFX has an impressive range of futures, with 26 available for trading. Traders can choose between currencies, commodities, and energies,  Leverage is up to 1:10. 
  • Metals: IronFX offers trading on 6 energies, which is average compared to most other brokers.  These include silver, gold, palladium, and platinum.  Leverage is up to 1:20 on metals.

Apart from the wide selection of Forex pairs, IronFX has a disappointing range of CFDs. This is mostly down to the limitations of the MT4 platform.  

Educational Material

IronFX’s educational materials are limited compared to other large international brokers. 

On the whole, other than the video material, blog content, and one downloadable e-book, IronFX’s educational materials lack depth and provide only a sweeping overview of the basics of forex trading.  

Videos: The video materials highlight IronFX’s market experts and analysts as they explain the basics of forex trading and fundamentals to risk management and advanced trading strategies.  They also cover concepts that interest more advanced traders. Some of the video material is only available for traders who open a live trading account and make a deposit.  However, the video material, while more comprehensive than other aspects of IronFX’s education section, is disorganized, and it’s difficult to find what you’re looking for.

IronFX’s blog content is curated by IronFx’s in-house analysts and is updated frequently.  The blog content is a mixture of educational materials, explaining concepts such as technical and fundamental analysis, and also provides an overview of the markets.  The blog content is updated every two to three days.  

IronFX used to offer webinars and seminars, but unfortunately, these are no longer available.  

Overall, although IronFX offers a wide range of informative video content, the materials generally lack substance and are not well-structured.

Research and Analysis

IronFX’s research and analysis materials are more comprehensive than its education section, but compared to other large international brokers, are still lacking.

A duo of in-house analysts provides market commentary on breaking news insights.  The presentation and depth of these materials are acceptable but fall short of what is on offer at other large brokers.  Additional market news can be found in the video section mentioned above. 

Live economic news, current rates, analysis, and economic calendar data are delivered directly into your trading platform to help you plan your trading day and uncover the most profitable opportunities.

Overall, while the market research is updated frequently, the breadth of the material trail many of IronFX’s competitors.  

Customer Support

Customer support is available 24/5, in 30 different languages to support clients from over 180 countries in Europe, Asia, the Middle East, Africa, and Latin America.

IronFX can be contacted on local toll-free phone numbers, live chat, and email.

For the purposes of this review, we found the customer support responsive but uninformed.  They were unable to answer many of our questions and seemed generally confused.

Live economic news, current rates, analysis, and economic calendar data are delivered directly into your trading platform to help you plan your trading day and uncover the most profitable opportunities.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IronFX offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. IronFX would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.35% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

IronFX is a globally-recognised, remarkably well-regulated Forex broker with a range of assets on offer, including over 80 Forex pairs, which is more than other brokers.  Trading conditions are poor across most account types, but IronFX allows traders to choose from a wide range of options, including the execution method that suits their trading strategy.  IronFX only offers support for the MT4 platform, including the MT4 Advanced package for a superior trading experience, but educational and market analysis materials are lacking, forcing traders to self-educate elsewhere. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

 

Vanessa Marcos
Financial Writer

Vanessa joined the team in 2023. Born and raised in southern Portugal, she has a BA in Journalism and a Master’s in Literary Theory, both from Lisbon University. Since 2011, she has worked in social media, copywriting, content management, ghost-writing, and SEO. Vanessa loves to write, and although she is a generalist in digital marketing, she always draws on her creativity in her work. She is constantly researching new subjects and finds the analytical depth of Forex trading fascinating.

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AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only MT4 platform supported. IronFX is regulated by CySEC, FCA, ASIC, and the FSCA.
  • Kirill says:

    Problems with withdrawals. You can deposit and trade, once you try to get your money back – they become reluctant and don’t process a withdrawal.

    • Finn B. says:

      Did you finish your account verification? It’s the number one problem that can cause these things. I myself had similar situations with several brokers in my life.

    • Ganesh Gopal says:

      Try to contact client support. I don’t think they want to steal your money. Usually it’s because of a lack of attentiveness from the trader’s side.
      Clent support resolves such issues very quickly.

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    3.64 3.64  / 5
    Rated #64 of 77 Recommended Brokers
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