A minimum deposit is the minimum amount of money required by IronFX to open a new online brokerage account with them. You can sign up for a demo account to acquaint yourself with IronFX platform. 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. As IronFX only offers MT4, on mobile as well as desktop, the mobile trading experience is limited compared to other brokers. 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.
Minimum deposits are higher than average across all the account types too, with most accounts requiring at least 500 USD. 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. IronFX is a strong all-round broker with a reliable platform, low fees, high leverage, and a selection of welcome bonuses.
Special Features
All payments made to IronFX by traders are securely held in a segregated bank account. We aim to provide you with all the information in this IronFX review you need to determine if IronFX is the right fit for you. But we don’t stop there – we also offer valuable insights into other great alternatives to IronFX, so you can make a more informed decision and compare other brokers against IronFX.
- Choosing the right broker is essential to ensure your IronFX investments grow and flourish.
- Cryptoasset investing is highly volatile and unregulated in some EU countries.
- This review will fully report IronFX’s offering, including exclusive deposit bonuses, demo accounts and fast deposit and withdrawal methods.
- Therefore, you should only risk trading when you understand that your capital is at risk at any time.
Note that while users may be able to trade 24 hours a day, spreads are less competitive during periods of low liquidity. Finally, investors benefit from the latest features from Trading Central via the Client Portal as well as from trading widgets including a currency converter, a pip, margin and profit calculator. For any withdrawal problems, contact customer support on one of the channels described further below. Payments typically take up to 24 hours, though wire transfers may take up to five business days. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.
IronFX withdrawal and funding methods
This platform has most of the features of the MT4 desktop software, and it works on both Android and iOS mobile devices and tablets. The IronFX Trading School will focus on trading materials tailored specifically to the needs of both beginner and professional traders, according to the firm. Despite the Covid-19 pandemic, the IronFX team noted that it has worked hard to respond to its traders’ needs and will continue to do so, as the company has seen exponential growth over the last months. Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe,
Australia, South East Asia, South Africa and the Middle East.
Professionals trading their own accounts may wish to look elsewhere, despite tiered pricing, due to the lack of volume discounts or a proprietary high-end trading platform. Minimum EUR/USD spread is listed at 0.7 pips while average spread is listed at 1.2 pips. These numbers may be deceiving, given the broad variety of accounts, fees, and routing choices. Spreads drop significantly on major Forex pairs between Micro and VIP tiers but minor pairs show no variation.
Compare Forex Brokers
IronFX Academy provides impressive educational features for smaller and less-skilled traders. The portal would benefit from more advanced topics but the narrow focus on newer traders makes sense as a marketing tool. A webinar section was locked, leading to a live account application, while the seminar section contained just two non-English programs in MP4 format. ironfx school While IronFX offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market.
So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position. The next step involves submitting identification documents for IronFX account validation and making a deposit. Once completed, IronFX users can download the trading platform of their choice. To open a trading account with IronFX, individuals can sign up on the IronFX website.
Research and Analysis
If you are unsatisfied with IronFX or want to explore other options, we recommend checking out our carefully curated list of highly-rated IronFX alternatives. Follow the links below to learn more about these IronFX broker alternatives and choose the one that best suits your trading needs. We tested the effectiveness of communicating with IronFX support in multiple languages and countries. Our customer issues were resolved promptly by the IronFX support team, proving their ability to efficiently and effectively support customers in diverse locations and languages. On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Like other brokers, IronFX margin requirements can differ depending on the traded instrument.
Please note that Comparebrokers.co may have financial relationships with some of the merchants mentioned here and may be compensated if consumers choose to click the links located throughout the content on this site. IronFX withdrawal fees vary on payment method.IronFX doesn’t charge inactivity fees. If you’re interested in comparing IronFX against other popular brokers in the industry, check out our IronFX Vs pages. Our team has compiled a series of detailed IronFX comparison articles, pitting the IronFX platform against some of the best-rated IronFX competitors in the market. Dive into our informative IronFX Vs pages below to find out how IronFX stacks up against other leading brokers.
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. IronFX’s trading fees are significantly higher than most other brokers, and it has a complicated account structure.
Tools & Features
Tier 1 is the official measure of a bank’s financial health and strength.Trading with IronFX is risky, and because the market is so volatile, losses could happen at any time. Do not invest with IronFX unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Brokerage firms like IronFX may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms.