IronFX is a forex broker company founded in 2010 and based in Cyprus. It is providing online Forex trading services.
IronFX is a member of an established international financial services group set up in the 70s that was standing at the origins of Forex market and online currency exchange trading in general.
The experience the group gathered over decades became a strong foundation for establishing IronFX.
Currently the company serves traders from 200 countries and has offices in 60 countries.
IronFX is offering a wide range of trading instruments and convenient platforms. The company is committed to providing the best trading environment to its customers.
IronFX has many awards, including:
- Best Trading Execution Global 2013;
- Most Trustworthy Broker from SINA Forex Billboard 2013.
Deposits and Withdrawals
To create the best conditions for trading and asset management, the company is offering an extensive range of trading, information and financial instruments. In particular, IronFx’s clients have the following options of depositing and withdrawing their money:
- Bank transfer;
- VISA and MasterCard credit cards;
- Skrill (MoneyBookers), Neteller, OkPay, WebMoney, QIWI, FASAPAY, Yandex Money E-Wallets.
Bank transfers take 2-5 working days, credit cards payments are processed in 1-2 working days, payments through online payment systems are made within one banking day.
IronFX is authorized and regulated by the following regulatory bodies:
- ASIC. Australian Securities and Investments Commission;
- CRFIN. Russian Center for Regulating OTC Financial Instruments and Technologies;
- FCA. Financial Conduct Authority of the UK;
- CySEC. Cyprus Securities and Exchange Commission;
- FSP. Financial Service Providers Register, New Zealand.
Moreover, opening offices in different countries, the company fully complies with regulatory standards of those countries. Thus, its activity is also regulated by AFM, BaFin, Banque de France, Comisión Nacional del Mercado de Valores, CNB, CMVM, Consob, Finansinspektionen, KNF, MiFID, PSZAF etc.
To secure safety of clients’ funds, IronFX is widely using segregated accounts allowing to keep the company’s funds separate from those of its clients. This ensures customers’ funds against any risks from operations of the company.
Regarding safety of customers’ funds as well as strict and prompt execution of financial operations, it is noteworthy that IronFX is closely cooperating with the world’s leading banks, namely:
- Bank of America Merrill;
- BNP Paribas;
- Raiffeisen Bank;
Apart from keeping the funds secured, the above banks also provide liquidity, which is a strong proof of the broker’s reliability.
Bonuses and Promotions
IronFX pays bonuses to its clients for each deposit to an account. The bonus is 5-15% of the amount deposited but cannot exceed $2 500 USD . Withdrawal terms are not clearly specified but as practice shows bonus money are intended for trade operations.
Trading Accounts Types
IronFX offers three types of trading accounts to its clients:
- Micro Accounts. Minimum deposit is $500 USD;
- Premium Accounts. Minimum deposit is $2 500 USD;
- VIP Accounts. Minimum deposit is $20 000 USD.
VIP account can be opened only in US dollars. Live Micro and Premium accounts can be opened in the following currencies:
- US Dollar (USD);
- Euro (EUR);
- British Pound (GBP);
- Australian Dollar (AUD);
- Japanese Yen (JPY);
- Swiss Franc (CHF);
- Polish Zloty (PLN);
- Russian Rouble (RUB);
- Hungarian Forint (HUF).
Owners of Premium and VIP accounts can use a special channel for trading (“hot line”).
There are more differences among trading accounts. Owners of all types of accounts can choose the type of the spread.
Also, the company’s clients can use three ECN Accounts:
- STP/ECN Zero (the spread can be chosen);
- STP/ECN (fixed spread);
- Zero Fixed (zero spread but with commission).
Minimum deposit for all ECN Accounts is $500 USD.
The range of trading instruments is similar for all the accounts and includes:
- Currency pairs;
- CFD contracts;
- Options and futures;
- Precious metals;
The minimum size of a transaction is 0.01 of a standard lot for all types of accounts. The leverage is from 1:1 to 500:1.
Trading Platforms Types
On the basis of the most popular trading platform MT4, IronFX specialists developed 15 platforms and integrated them into a unique system “1 account, 15 platforms”. You can have a detailed look at this unique software solution and duly appreciate its widest functional capabilities on the company’s official website.
IronFX customer service center is undoubtedly a unique, in its power and grace, team of highly-skilled professionals.
Customer service is available 24/7 and supports up to 46 languages.
You can contact the support center using a multi-line phone (for countries where the company has representative offices), by email or live chat on the company’s official website.
There are the Academy web pages on the company website providing a variety of resources for traders of all levels.
Customer service team presents unique educational videos and regularly hosts seminars.
Pros of Trading with IronFX
To sum up all the above, the main advantages of choosing IronFX are as follows:
- Wide range of trading instruments;
- Narrow spreads;
- Strict execution of orders;
- Partnership with major liquidity providers;
- Convenient trading platforms;
- Best customer support service;
- Wide choice of trading accounts.
A complicated procedure of registration and verification of clients can be regarded as a disadvantage. It can take from 2 to 6 weeks to study documents and sign an agreement.
Beynor Dan: It’s an excellent broker. I highly recommend it. No other has such a great variety of instruments. I’ve been working with the company for a year and have nothing to complain of. Orders are executed accurately, funds are withdrawn in time.
CanFxman: IronFx is a very reliable forex broker. Trading instruments are largely unique. No requotes and slippage. As a rule, money withdrawal is faster than stated in trading terms (bank transfer takes no more than 2 days, often even one day). I am very satisfied and want to thank the company team for good performance and all-round support to their customers.
It is unknown why the company name is Iron. In our opinion it is worth being named Perfect. As we know, there is no ideal but IronFX is so close to it that this distance is invisible for the naked eye.
In all areas of its activity the company conforms to the highest quality standards, most of which it set by itself.