3.97 53 Reviews

Iron FX Review Summary

IronFX was founded in 2010, in Cyprus, where the broker has it also has its headquarters, although the broker has offices in Sydney, Johannesburg, and London. IronFX is licensed and regulated by various regulators such as CySEC , FSCA, ASIC, and FCA. IronFX offers over 200 financial assets for trading to its customers such as Forex, futures, indices, shares, etc. IronFX operates in over 180 countries globally, but unfortunately, the reputation of IronFX is definitely not the most solid in the industry. The broker has received multiple fines and financial penalties from CySEC for not following regulations. Most of the broker’s issues were related to clients’ fund withdrawal.

Iron FX Review Highlights

Trading Platform: MT4
Cryptocurrencies Yes
Regulator CySEC, FCA, FSCA and AISC
Minimum Initial Deposit $100
Leverage Up to 1:30

Pros & Cons

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IronFX only offers the MT4 (MetaTrader 4), which is the preferred platform of most traders. MT4 is amongst the most reliable and popular platforms; it offers all the crucial tools and resources needed for successfully trading online. MT4 is supported by most operating systems like Windows, Mac OS, iPhone/iPad, Android, and any internet browser.

MT4 allows you to:

  • Manage positions and orders
  • Execute all order types through various execution methods
  • Monitor financial instruments’ prices and forex rates
  • Use charts and indicators
  • Streaming online news
  • Use activity reports
  • Use automated strategies
  • Use built-in EAs (Expert Advisors)

IronFX also offers WeTrader4 as well as mobile trading. IronFX MT4 is an easy platform to use with plenty of extra features that are quite helpful.

Opening an account type with IronFX

IronFX allows different account types to their clients, such as ECN, VIP, Premium, and Micro accounts. Each of the account types has its own unique features that fit different brokers.

To open an ECN account, you need to deposit $500 minimum. Spreads vary, the average being 1.7 pips but IronFX also offers absolute zero spreads as much as 0.3. The lowest minimum deposit is $100 and is available only for Micro accounts. The leverage within all the account types of IronFX is capped at 1:30 as by ESMA restrictions. IronFX does charge commission fees based on the types of trades.

It’s quite simple to open an account with IronFX. The broker does not do accept traders from countries like the USA, Cuba, Sudan, Syria, and North Korea. In order to open a live account, clients need to register and follow standard KYC procedures like identity confirmation (passport, governmental ID, or driver’s license) as well as proof of residency (utility bill or bank statement). Clients can deposit funds by bank wire, credit/debit card as well as popular e-wallets such as:

  • Neteller
  • Skrill
  • QIWI
  • Yandex
  • Webmoney

IronFX offers live trading competitions to their clients throughout the year based on the regulations in their jurisdiction.

Live Floating/Live Fixed Accounts

STP/ECN Accounts

IronFX also offers VIP accounts for sophisticated investors and the minimum deposit to open such accounts is $20,000. VIP accounts charge no commission and offer very low spreads.

Education and Research

IronFX has a blog that includes market insights, previously is was regularly updated regularly but at the moment there have not been too many updates.

IronFX also previously had a section called ‘IronFX Academy’ which offered some basic education tools like videos and webinars. At the moment, it’s not available.

Customer Support

IronFX offers good customer support as their team is multilingual and responded to with relevant, and to the point feedback. Clients can reach customer support through different methods such as:
• Phone
• Callbacks
• Email
• Forum
• Live chat
• Skype

Official Iron FX Review Registration

Founded: 2010
Broker Type: STP/ECN
Languages Supported: Various like EN, FR, ES, DE, RU, PL, HE and ZH
Trading Instruments: Forex, cryptocurrencies, indicies, shares...
Account Types: Live floating/fixed and STP/ECN accounts
Expert Advisors: Yes
Social Trading: Yes
Hedging: Yes
Scalping: Yes
Commission: Yes, variable
Inactivity Fee: Yes, Minimum
Swap-Free Account: Yes
Mobile Apps: Yes
Demo Account: Yes
Prohibited Countries: USA
Trading Fees: Yes, variable
Withdrawal Fees: Yes, minimal
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Iron FX Reviews

53 Reviews for Iron FX

  • Stephen says:

    Iron FX is by far the best trading website I have used and it’s pricing is very competitive. I have no complaints; they have been very cooperative handling all of my questions. Have been with them for 3+ years now. Highly recommend them. I see their charting but don’t really trade with it but it is a good reference for me.

  • Vaughton says:

    The website is great, and the fact that you can copy good (or very good) traders allows you to make money without lifting a finger. It works great if you choose the right people. Plus, you can trade on your own and learn the ways quite easily (make sur to know the diff. between BUY and SELL…).

  • Steve Ian says:

    Whilst Iron FX is a good platform to use, there’s a lot to be said for their spreads and the numerous occasions that trading has been halted under volatility triggering sl’s / tp’s. I still use the platform but try make it work for me around the aforementioned issues.

  • Mazahir says:

    Takes far too long to close trades.

  • Khan Global says:

    Polite and helpful chat, unfortunately had to escalate my issue to a ticket and wait time was around 15 minutes

  • Francis Sarceda says:

    fast withdrawal and deposit, low spread, good costumer service… the only downside of this broker is no negative protection…

  • Eugene says:

    I have to say they have been very helpful when any problems have arose. I would recommend them for any trader starting

  • Thread says:

    Fast and good assistance in HelpDesk

  • Steve says:

    Expensive brokerage rates approx 5%.
    About $3,000 down at the moment.
    Should have bought shares in Iron FX

  • |Reimer says:

    I’m a new trader of Iron Fx. Still, I’m satisfied with online support plus market execution of what I need…I hope it will continue up to the withdraw…

  • Marina says:

    So far, so good. I have been approved, No trading still in real account. In demo account I am concerned about common error and market execution in MT4 that sometimes happen, not letting you enter a trade. At the same time, in another broker, I can execute the trade with no problem. Very good chat support.

  • Taga Yuki says:

    I don’t like the glitchy bugs they some times have with the system and login and they need a better more interactive customer service / support.

  • Yacine Milan says:

    Good support but wait a little bit long.

  • Liam K says:

    platform ok but slow to answer questions or resolve issues

  • Thomas S says:

    Excelente team of support. And i never get problems to make withdraws.

  • David B says:

    Well known old brokerage. I can say for sure, based on my own experience, if you have a good strategy you can work profitably with this broker.

  • Kenan Sinclair says:

    Very good customer service. First transaction was flawless. Would recommend.

  • Gerald says:

    Best broker for intraday trading. I tested few of them and Iron FX have best execution and spread

  • Pieux says:

    Low spreads. Not much options. No inquiry/support by email.

  • Malik K says:

    I am happy with this broker, everything works nice and easy, very low spreads, all strategies allowed, helpful customer support, no withdraw/depositing problems,

  • Kim says:

    Costumer Service are friendly and helpful.
    I like Iron Fx as my FX broker.

  • Johnson M says:

    I am satisfied

  • Tom Yuki says:

    Need to offer rebates or rewards to clients.
    Seems to be all take no give.

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