Iron FX Review Summary
Iron FX Review Highlights
Pros & Cons
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:
IronFX offers live trading competitions to their clients throughout the year based on the regulations in their jurisdiction.
Live Floating/Live Fixed 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.
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:
• Live chat
Official Iron FX Review Registration
If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.