Our IronFX Review
Introduction
Since its establishment in 2010, Iron FX has become one of the most trusted brokers among the retail traders. And according to IronFX reviews by the Forex traders, both the popularity and reliability of this broker is increasing every day. This online broker is owned by IronFX Global Limited which is a reputed investment farm of Cyprus and also the owner of another reputed broker FX Giants. But now this broker spreads its operation to UK & Australia and you can open your financial account & make your trades from anywhere in the world.
IronFX Regulations & Background
Although, IronFX first started its journey under Cyprus based IronFX global, right now it is running its operation in UK under the business name 8 Safe UK Ltd. & in Australia under the business name GVS Pty Ltd. At the time of its operation with IronFX global in Cyprus, it has a regulatory issue with CySEC. But now it is regulated by UK’s most famous Financial Conduct Authority or FCA in UK and Australian Securities and Investment Commission or ASIC in Australia. Both of these regulatory bodies are highly popular among the brokers and traders around the world.
IronFX Reliability & Safety of Funds
This broker has been running their operation since 2010 and tons of online traders are making their trades with full trust. Although you may find some scam reports, it is obvious because giving financial service to millions of people is not so easy. But if you consider the whole reputation in a nutshell, you’ll get positive feedback few times than the negatives.
Additionally, if you want your fund safety, they have also some schemes for both individuals and teams. The most awesome and notable feature of this broker is that the trader’s financial accounts are protected under the rules of Financial Services Compensation Scheme in UK and Investor Compensation Scheme in Cyprus. It means if IronFX breaks any commitment to the retailers they’ve to compensate the loss. According to this scheme, trader accounts are protected up to 50,000 pounds and the maximum amount of compensation is 20,000 euros.
IronFX Trading Platforms & Software
IronFX provides three trading platforms for the retailers. They are:
- Meta Trader 4 or MT4
- Multi Account Manager or PMAM
- Web Trader 4
Among them, MT4 has the following 4 software package for different operating system and environment:
- MT4 for PC
- MT4 for Mac
- MT4 for Mobile (Android, IOS & Windows Phone)
- MT4 for Tablet
Using MT4, you’ll get the following updates:
- Activity Report of your Trade
- Real Time News & Price Feed
- Charts and Statistics up to Advanced Level
- Enormous Ranges of Built in Technical Indicators
- Supports Various Order Types & EAs.
For the money makers IronFX also provides MT4 PMAM platform which will give you the following facilities:
- Activity Reports
- Live News & Updates Prices
- One Click Easy Trading
- Manage Multiple Accounts & funds
- User Friendly Online Order & Portfolio Management Feature.
On the other hand, Web Trader 4 only supports Windows & Mac PC environment. There is no support for mobile or tablets.
IronFX Deposits & Withdrawals Options
It supports a wide range of deposit and withdrawal methods. Almost all kinds of common payment methods are supported by IronFX. For deposit & withdrawal you’ll have the following options:
- Bank Transfer
- Credit Card
- Master / Maestro / Visa Card
- Wire Transfer
- Web Money
- Skrill
- Neteller
- FasaPay
- Union Pay
- Dot Pay
- China Union
- Mail Order or Telephone Order (M.O.T.O) etc.
The only drawback of this broker is that it doesn’t support PayPal for deposit or withdrawal. And if you are a PayPal lover, then you can also check PayPal Brokers here.
Minimum Initial Deposit & Leverage
The minimum initial deposit is $100 for micro accounts & leverages varies from 1:1 to 1:1200 depends on the account type. However, you can also make custom agreement to them.
IronFX Commissions & Spreads
Both fixed and variable spreads are available in IronFX. That means, you can check the spread before your trading and also get your spread in the middle of your trading. Besides, a small commission is also charged by IronFX for certain types of trading.
IronFX Trade Types/Instruments
There are more than 200 types of instruments available in IronFX and you can make money by trading spot forex, spot metals, spot commodities, spot indices, futures and shares.
IronFX Account Types
There are different account types to start making money from IronFX. Some of them are illustrated below:
| Account Type | Minimum Deposit | Spread | Support |
| Micro Account | $100 | – Fixed & Variable | – Dedicated Account Manager. |
| Premium Account | $2500 | – Fixed & Variable | – Dealing Department Hotline.
– Dedicated Account Manager. |
| 0 Fixed Spread Account | $500 | – Low Commission Per Lot | – Dedicated Account Manager. |
| STP / ECN No Commission Account | $500 | – STP No Commission | – Dedicated Account Manager. |
| STP / ECN 0 Account | $500 | – STP Zero Spread | – Dedicated Account Manager. |
Mobile Trading
IronFX login is also available for mobile. So, if you’ve no PC or Mac, or if you remain busy in outside most of the time, you will have no problems because only a smart phone is quite enough to manage and analyze your trades. However, only MT4 is available for your android or ISO device. Web Trader 4 is available only for PC. But you shouldn’t be worried because only MT4 can fulfill almost all your trading queries and activities.
IronFX Customer Support
You can reach IronFX by email, live chat & phone number. Besides, they arrange webinars, seminars and web-based training program regularly. For newbies, there are lots of resources uploaded to their website so that a new trader can train him/her by own selves. And if you are a non-English speaker, you can also be hassle free because the official site of IronFX is multilingual and supports dozens of languages.
Bonuses and Promotions
To gain more trust from the money makers and spread the business, IronFX provides different types of bonuses and promotions. Like other brokers they’ve the following common promotional bonuses:
- IronFX Affiliates Bonus
- Cash back bonus
- Cash Rebate Bonus
- Reward points.
Besides, they also arrange trading competitions to attract and motivate the FX traders. For instance, IronFX arranged the biggest competition in the industry in 2013 where the grand winner was awarded by a super car or $1,50,000 in cash.
However, IronFX doesn’t provide any no deposit bonus, but for loyal clients they’ve the following two trading bonuses:
- 40% power bonus up to $4,000
- 100% Sharing Bonus up to $10,000
IronFX Pros & Cons
| PROS | CONS |
| IronFX is properly regulated by FCA in UK & ASIC in Australia | IronFX doesn’t support PayPal. |
| The funds of retail traders are protected under the rule of Financial Services Compensation Scheme in IronFX UK. | |
| There lots of deposit methods like bank transfer, wire transfer, skill, Neteller, FasaPay etc. |
Conclusion
May be you will find many myths, IronFX scam stories in the Forex market. But in terms of regulations, fund protections, multilingual support and other factors IronFX is one of the most prominent and reliable Forex Broker around the world. And you can make money from anywhere in the world. For example, IronFX is not physically located Vietnam. But you can still make your account, verify yourself and start your trade from IronFX Vietnam. This is the power of virtual market and the reliability of IronFX has made it one of the powerful brokers in this powerful virtual market.
Frequently Asked Questions (FAQ)
- Is IronFX regulated?
Yes, it is. Iron FX is regulated by Financial Conduct Authority (FCA) in UK & Australian Securities and Investment Commission (ASIC) in Australia.
- Where is IronFX based?
IronFX is mainly based on Cyprus. But right now, it has taken licenses individually from UK & Australia to run their operations on those countries.
- How does IronFX make money?
Like other brokers, IronFX makes money from mainly spreads & commissions from the registered money makers.
- How to deposit in IronFX account?
You can use your Master/Maestro/Visa cards, Neteller, FasaPay, Skrill, Union Pay, Dot Pay and bank wire to deposit in your IronFX account.
- How to withdraw money from FX Giants?
The withdrawal is also simple by Neteller, FasaPay, Skrill, Dot Pay, Master / Maestro / Visa cards etc.
- How to open an account with IronFX?
Opening an account is as simple as opening an email. You just need to go to the official site of IronFX and fill the signup form. After signing up, you need to send your identity documents and they’ll verify your account. And then, you’ll be up for make your trades.
- Is IronFX reliable?
Iron FX is properly regulated by FCA and ASIC. Besides, it also protects the trader’s funds under Financial Services Compensation Scheme in UK and Investor Compensation Scheme in Cyprus.
- Does IronFX use MetaTrader?
Yes, it used MT4 for PC, Mac, Mobile & Tablets. Additionally, it also provides PMAM & Web Trader 4 for the retailers.
- Is IronFX a scam?
Though there are such claims by many retail traders, according to most of the IronFX reviews you can rely on this broker. But still, don’t forget to read the terms.
- How safe is IronFX?
As a trader, probably the main safety is the safety of your fund. And the good news is your funds are safe under Financial Services Compensation Scheme in UK and Investor Compensation Scheme in Cyprus up to 50,000 pounds.
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