Trade commodities at Plus500 CFD Service. 80.6% lose money. Dismiss
Review

IronFX Review: Can You Trust Them?

WARNING: We do not recommend IronFX. This is due to a history of fines and sanctions in various countries. Please consider one of the alternative CFD brokers below.

BrokerOur Trust ScoreSign up
plus500logo
www.plus500.com
90/100Start TradingCFD Service. 80.6% lose money.
Plus500 Review

City Index Logo
www.CityIndex.co.uk
100/100Start Trading
72% of clients lose money. Capital at risk.
City Index Review

www.eToro.com
90/100Start Trading65% of retail investor accounts lose money when trading CFDs with this provider.*
eToro Review

Overview

Risk Warning: Your Capital is at Risk

PLEASE NOTE: At present, we do not recommend IronFX (See Why). Please consider one of our other regulated brokers.

IronFX is an online broker that provides a platform for Contracts for Difference (CFDs) trading. CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts. IronFX offers over 200 tradable CFD instruments on forex, spot metals, spot indices, spot commodities, futures, shares and cryptocurrencies.

IronFX traders have access to three platforms:

WebTrader4: A web-based platform developed in-house for trading multiple classes of assets.

MetaTrader4 (MT4): An industry-standard platform with advanced charting features.

Personal Multi-Account Manager (PMAM): A platform for money managers that enables them to manage and trade on multiple MT4 accounts simultaneously.

Please remember, losses can exceed deposits. CFD trading is for experienced traders.

This IronFX review will cover all of the important details about the broker and discuss its major advantages and disadvantages.

IronFX - Essential Information

 IronFX Logo
www.IronFX.com
OverviewAward-winning global leader in online trading
Our Overall Rating
Broker Trust Rating20/100
Founded2010
Number of Customers100,000+ worldwide
ProductCFDs
MarketsForex
Spot Metals
Spot Indices
Shares
Cryptocurrencies
Spot Commodities
Futures
Countries Served180+ (Full list below)
Minimum DepositDepends on the type of account being opened (varies from $10 to $20,000)
FeesIronFX receives its compensation through market bid/ask spread and commissions - depending on the type of account you have. (See below). IronFX charges no deposit fees and withdrawal fees depend on the method used. See here for full list of fees
Regulator(s)Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC)
Customer Support24/5 email, phone, fax and live chat
AwardsVarious awards including Best Forex Educators 2015 (UK Forex Awards)
Demo AccountYes, four are available that imitate the live platforms

History of IronFX

IronFX was founded in Limassol, Cyprus in December 2010 when it obtained an authorization by the Cyprus Securities and Exchange Commission (CySEC).

The broker expanded to Australia in 2013 where its subsidiary received a license from the Australian Securities and Investment Commission (ASIC). The firm later opened an office in the United Kingdom where it fell under the regulatory auspices of the Financial Conduct Authority (FCA).

In 2014, IronFX expanded its presence in London when it opened another office in the financial hub.

IronFX also opened an office in South Africa in 2014 and became authorized and regulated by the Financial Services Board (FSB).

IronFX has staffed offices in London, Sydney and Johannesburg and a business address in Limassol, Cyprus. Its major regulatory licenses include the following:

  • IronFX is a trade name of Notesco Financial Services Limited (formerly IronFX Global Ltd). Notesco Financial Services Limited is authorized and regulated by Cyprus Securities and Exchange Commission (CySEC License no. 125/10).
  • 8Safe UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561)
  • GVS (AU) Pty Limited is authorized and regulated by ASIC (AFSL no. 417482)

IronFX provides customers dedicated 24/5 customer support to retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America. The broker provides customer support in over 30 different languages. Traders can contact IronFX customer service by phone, email, fax or live chat. Traders can view the IronFX website in English, Spanish, German, Italian, Arabic, Korean, Portuguese, Slovak, Czech, French, Chines, Polish, Russian and Japanese.

Where Does IronFX Operate?

Iron FX customers can sign up for an account in dozens of countries:

See all the countries IronFX operates in

  • Afghanistan
  • Albania
  • Algeria
  • Andorra
  • Angola
  • Anguilla
  • Antarctica
  • Antigua/Barbuda
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Botswana
  • Bouvet Islands
  • Brit.Ind.Oc.Ter
  • Brit.Virgin Is.
  • Brunei Daruss.
  • Bulgaria
  • Burkina Faso
  • Burma
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • CAR
  • Cayman Islands
  • Chad
  • Chile
  • China
  • Christmas Island
  • Coconut Islands
  • Colombia
  • Comoros
  • Cook Islands
  • Costa Rica
  • Cote d’Ivoire
  • Croatia
  • Curacao
  • Czech Republic
  • Dem. Rep. Congo
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Rep.
  • Dutch Antilles
  • East Timor
  • East Timor
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guin
  • Eritrea
  • Estonia
  • Ethiopia
  • Falkland Islands
  • Faroe Islands
  • Fiji
  • Finland
  • France
  • French Guayana
  • French S.Territ
  • Frenc.Polynesia
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guadeloupe
  • Guam
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Heard/McDon.Isl
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iraq
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Kuwait
  • Kyrgyzstan
  • Laos
  • Latvia
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macau
  • Macedonia
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Martinique
  • Mauretania
  • Mauritius
  • Mayotte
  • Mexico
  • Micronesia
  • Minor Outl.Isl.
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • New Caledonia
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • N.Mariana Island
  • Norfolk Islands
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestine
  • Panama
  • Pap. New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Pitcairn Islands
  • Poland
  • Portugal
  • Puerto Rico
  • Qatar
  • Rep.of Congo
  • Republic of Ireland
  • Reunion
  • Romania
  • Russian Fed.
  • Rwanda
  • Saint Helena
  • Samoa
  • Samoa, America
  • San Marino
  • Saudi Arabia
  • Senegal
  • Serbia
  • Serbia/Monten.
  • Seychelles
  • Sierra Leone
  • Singapore
  • Slovakia
  • Slovenia
  • Solomon Islands
  • Somalia
  • South Africa
  • South Korea
  • Spain
  • Sri Lanka
  • Sandwich Ins
  • St Kitts&Nevis
  • St. Lucia
  • S.Tome, Principe
  • St.Pier, Miquel.
  • St. Vincent
  • Suriname
  • Svalbard
  • Swaziland
  • Sweden
  • Switzerland
  • Taiwan
  • Tajikistan
  • Tanzania
  • Thailand
  • Togo
  • Tokelau Islands
  • Tonga
  • Trinidad, Tobago
  • Tunisia
  • Turkmenistan
  • Turks and Caicos
  • Tuvalu
  • Ukraine
  • United Kingdom
  • Uruguay
  • U.S. Virgin Islands
  • Utd.Arab Emir.
  • Uzbekistan
  • Vatican City
  • Venezuela
  • Vietnam
  • Wallis, Futuna
  • West Sahara
  • Zambia
  • Zimbabwe

IronFX does not offer its services to residents of certain jurisdictions:

  • USA
  • Iran
  • Cuba
  • Sudan
  • Syria
  • North Korea

IMPORTANT: CFDs are not available in the USA due to local regulation, and this regulated CFD broker does not accept US citizens or US residents as clients.

Customer support is available in 30 languages.

Can I Trust IronFX?

IronFX is regulated in multiple jurisdictions including the Financial Conduct Authority (FCA), Cyprus Securities Exchange (CySEC) and Australian Securities and Investment Commission (ASIC). The Markets in Financial Directive (MiFID) allows the company to passport its services and operate as a regulated entity throughout the European Union.

However, the company has a recent history of fines, sanctions and problems with customers and regulatory agencies:

YearIncidentFine Amount
2015
  • The company’s Chinese customers and introducing brokers (IBs) brought 160 complaints against IronFX in a legal case in the District Court of Limassol
  • The plaintiffs alleged that IronFX denied withdrawal requests totaling $1.25 million
  • N/A
    2015
  • In August 2015 CySEC announced an investigation related to IronFX
  • In November 2015, CySEC settled all charges against the firm, agreeing to a €335,000 settlement
  • CySEC noted that it has the “power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable suspicion that a person has committed in violation of the provisions of CySEC’s supervised legislation.”
  • €335,000
    2015IronFx officially informed leading industry websites that they had voluntarily left four regulators in June 2015:
  • The Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) in Russia
  • The Federal Financial Supervisory Authority (BaFiN) in Germany
  • The Italian Companies and Exchange Commission (CONSOB)
  • Financial Services Provider Register (FSP) of New Zealand
  • N/A

    In 2016, CySEC issued a statement discussing the corrective measures the agency mandated for IronFX:

    Following the issuance of financial penalties on IronFX for non-compliance relating to the withdrawal of client funds and bonus promotions, the firm is subject to supervisory checks to ensure it implements the corrective measures needed to uphold full trader protection.

    – CySEC spokesperson

    The following are the major regulators that oversee the activities of IronFX:

    RegulatorCountries CoveredProtection OfferedAdditional Protection Offered
    Financial Conduct Authority (FCA)Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.All client funds are held in a segregated client bank accountFinancial Services Compensation Scheme (FSCS) may cover up to £50,000 if IronFX fails.
    Cyprus Securities Exchange (CySEC)Andorra, Argentina, Austria, Bahrain, Belgium, Bulgaria, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Hungary, Iceland, Isle of Man, Israel, Italy, Kuwait, Latvia, Liechenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, The Netherlands, Norway, Oman, Poland, Portugal, Qatar, Romania, Saudi Arabia, Slovakia, Slovenia, Spain, South Africa, Sweden, Switzerland, United Arab Emirates and Uruguay.

    A provision of services is also offered to a number of countries.
    All client funds are held in a segregated client bank accountThe Investor Compensation Fund may provide up to €20,000 if IronFX fails.
    Australian Securities & Investments Commission (ASIC)Australia, New Zealand and South AfricaAll client funds are held in a segregated client bank account

    The UK’s Financial Conduct Agency (FCA) regulates IronFX’s activities in the UK.

    The FCA is widely respected as a leader in financial regulation. In addition, the UK scores highly in Transparency International’s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption. IronFX’s customers in the UK are protected by the UK based scheme Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail. FSCS pays compensation up to £50k to customers in the UK if IronFX is unable to pay.

    8Safe UK Limited, the company that operates IronFX in the United Kingdom, is authorized and regulated by the Financial Conduct Authority (FCA no. 585561)

    The Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory agency of Cyprus.

    Cyprus is a European Union member and is a financial services industry hub. Customers in countries regulated by CySEC are eligible for compensation of up to €20,000 if IronFX fails. IronFX is a trade name of Notesco Financial Services Limited (formerly IronFX Global Ltd). Notesco Financial Services Limited is authorized and regulated by Cyprus Securities and Exchange Commission (CySEC License no. 125/10).

    The Australian Securities and Investments Commission (ASIC) covers IronFX’s activities in Australia, New Zealand and South Africa.

    ASIC’s oversight of IronFX means that client money is held in a trust and completely separate from IronFX’s own money. Unlike other jurisdictions, however, if you are based in Australia or South Africa, there is no additional compensation scheme in place to cover your deposit. That doesn’t mean it isn’t safe to deposit with IronFX if you’re in Australia or South Africa. Rather, you are offered only the legal protection afforded by the Australian legal system. That being said, money held in trust in Australia is highly regulated and covered by the Corporations Act.

    GVS (AU) Pty Limited, the company that operates IronFX in Australia, is authorized and regulated by ASIC (AFSL no. 417482)

    Who Runs IronFX?

    The CEO of IronFX is Mr. Markos Andreas Kashiouris. He founded IronFX Global Limited in 2010 and has been its Chief Executive Officer since March 2014.

    Mr. Kashiouris also co-owns IBIH Limited and serves as an Executive Director of Agua Terra Limited. He previously served as the latter’s Chief Executive Officer. He previously was a broker for JP Morgan and Commerzbank Securities in London. He holds a Bachelor’s Degree from the University of Manchester and a Master’s Degree from the Victoria University of Manchester.

    IronFX Trading Products

    IronFX offers its customers financial instruments to trade that span seven categories: forex, spot metals, spot indices, spot commodities, futures, shares and cryptocurrencies.

    IronFX notes that its spreads are applicable under normal trading conditions during day trading sessions. However, there may be instances when market conditions cause spreads to widen beyond the typical average spreads shown below.

    1) Forex

    See all IronFX’s Forex

    Currency PairMinimum SpreadTypical Average Spread
    AUD/CAD5.76
    Australian Dollar VS Canadian Dollar
    AUD/CHF66.1
    Australian Dollar VS Swiss Franc
    AUD/JPY44.1
    Australian Dollar VS Japanese Yen
    AUD/DKK3035
    Australian Dollar VS Danish Krone
    AUD/HUF200200
    Australian Dollar vs Hungarian Forint
    AUD/NZD7.59.5
    Australian Dollar VS New Zealand Dollar
    AUD/PLN3035
    Australian Dollar VS Polish Zloty
    AUD/SGD8.89.8
    Australian Dollar VS Singapore Dollar
    AUD/USD11.2
    Australian Dollar VS US Dollar
    CAD/CHF66.8
    Canadian Dollar vs Swiss Franc
    CAD/JPY3.93.9
    Canadian Dollar vs Japanese Yen
    CAD/NOK6572
    Canadian Dollar vs Norwegian Krone
    CAD/SEK6573
    Canadian Dollar vs Swedish Krona
    CHF/JPY33
    Swiss Franc vs Japanese Yen
    CHF/HUF2022
    Swiss Franc vs Hungarian Forint
    CHF/NOK3334
    Swiss Franc vs Norwegian Krone
    CHF/PLN1529
    Swiss Franc vs Polish zloty
    CHF/SGD810
    Swiss Franc vs Singapore Dollar
    EUR/AUD55.2
    Euro vs Australian Dollar
    EUR/CAD5.25.2
    Euro vs Canadian Dollar
    EUR/CHF12.2
    Euro vs Swiss Franc
    EUR/CNH2234
    Euro vs Chinese Renminbi
    EUR/CZK400400
    Euro vs Czech Koruna
    EUR/DKK55
    Euro vs Danish Krone
    EUR/GBP0.91
    Euro vs British Pound
    EUR/HKD2020
    Euro vs Hong Kong Dollar
    EUR/HUF4545
    Euro vs Hungarian Forint
    EUR/JPY1.12.3
    Euro vs Japanese Yen
    EUR/MXN80110
    Euro vs Mexican Peso
    EUR/NOK5050
    Euro vs Norwegian Krone
    EUR/NZD1212
    Euro vs New Zealand Dollar
    EUR/PLN3838
    Euro vs Polish Zloty
    EUR/RUB100350
    Euro vs Russian Ruble
    EUR/SEK5050
    Euro vs Swedish Krona
    EUR/SGD1010
    Euro vs Singapore Dollar
    EUR/TRY1414
    Euro vs Turkish Lira
    EUR/USD0.71.2
    Euro vs US Dollar
    EUR/ZAR100100
    Euro vs South Africa Rand
    GBP/AUD67.1
    British Pound vs Australian Dollar
    GBP/CAD66
    British Pound vs Canadian Dollar
    GBP/CHF45
    British Pound vs Swiss Franc
    GBP/DKK4045
    British Pound vs Danish Krone
    GBP/JPY44.5
    British Pound vs Japanese Yen
    GBP/HUF3542
    British Pound vs Hungarian Forint
    GBP/NOK100100
    British Pound vs Norwegian Krone
    GBP/NZD1515
    British Pound vs New Zealand Dollar
    GBP/PLN2532
    British Pound vs Polish zloty
    GBP/SEK100100
    British Pound vs Swedish Krona
    GBP/SGD1516
    British Pound vs Singapore Dollar
    GBP/TRY2121
    British Pound vs Turkish Lira
    GBP/USD0.81.3
    British Pound vs US Dollar
    GBP/ZAR300300
    British Pound vs South African Rand
    HKD/JPY35
    Hong Kong Dollar vs Japanese Yen
    NZD/CAD7.79
    New Zealand Dollar vs Canadian Dollar
    NZD/CHF67
    New Zealand Dollar vs Swiss Franc
    NZD/HUF3843
    New Zealand Dollar vs Hungarian Forint
    NZD/JPY44
    New Zealand Dollar vs Japanese Yen
    NZD/SGD1011.5
    New Zealand Dollar vs Singapore Dollar
    NZD/USD2.82.8
    New Zealand Dollar vs US Dollar
    NOK/JPY79
    Norwegian Krone vs Japanese Yen
    NOK/SEK79
    Norwegian Krone vs Swedish Krona
    PLN/JPY45
    Polish Zloty vs Japanese Yen
    SEK/JPY3.23.7
    Swedish Krona vs Japanese Yen
    SGD/JPY55
    Singapore Dollar vs Japanese Yen
    TRY/JPY68
    Turkish Lira vs Japanese Yen
    USD/BRL4040
    US Dollar vs Brazilian Real
    USD/CHF1.31.4
    US Dollar vs Swiss Franc
    USD/CNH1720
    US Dollar vs Chinese Renminbi
    USD/CZK3030
    US Dollar vs Czech Koruna
    USD/DKK3030
    US Dollar vs Danish Krone
    USD/HKD88
    US Dollar vs Hong Kong Dollar
    USD/HUF5050
    US Dollar vs Hungarian Forint
    USD/JPY0.40.9
    US Dollar vs Japanese Yen
    USD/MXN5080
    US Dollar vs Mexican Pesos
    USD/NOK5050
    US Dollar vs Norwegian Krone
    USD/PLN3333
    US Dollar vs Polish Zloty
    USD/CAD1.31.5
    US Dollar vs Canadian Dollar
    USD/RUB100350
    US Dollar vs Russian Ruble
    USD/SEK5050
    US Dollar vs Swedish Krona
    USD/SGD55
    US Dollar vs Singapore Dollar
    USD/TRY1313
    US Dollar vs Turkish Lira
    USD/ZAR140140
    US Dollar vs South African Rand
    ZAR/JPY35
    South African Rand vs Japanese Yen

    2) Spot Metals

    See all IronFX’s Spot Metals

    SymbolMinimum SpreadTypical Average Spread
    XAGEUR0.040.05
    Spot Silver - EUR
    XAGUSD0.040.05
    Spot Silver - USD
    XAUEUR0.50.6
    Spot Gold - EUR
    XAUUSD0.50.5
    Spot Gold - USD
    XPTUSD44
    Spot Platinum - USD
    XPDUSD4.54.5
    Spot Palladium - USD

    3) Spot Indices and Spot Commodities

    See all IronFX’s Spot Indices and Spot Commodities

    Spot Equity IndicesMinimum Spread
    EU50Cash15
    JPY225Cash5
    US30Cash2
    FRA40Cash150
    AUS200Cash250
    GER30Cash150
    NETH25Cash110
    Spain35Cash800
    UK100Cash140
    US100Cash140
    US500Cash90
    SWE30Cash400
    Swiss20Cash200
    HK50Cash1200
    UK250Cash4500
    Italy40Cash10
    Spot Energy Commodities
    WTICash3
    BRENTCash4
    NAT.GASCash4

    4) Futures

    See all IronFX’s Futures

    SymbolSPREAD AS LOW AS
    US5000.5
    E-mini S&P 500
    US302
    E-mini Dow ($5)
    US1000.5
    E-mini NASDAQ-100
    JP22510
    NIKKEI 225 (Dollar)
    UK1001
    FTSE 100
    AUS20020
    ASX SPI 200 Index
    FRA402
    CAC 40 Index
    China5010
    FTSE China A50 Index
    ENERGY FUTURES
    USOIL0.02
    Light Sweet Crude Oil
    UKOIL
    Brent Crude
    NAT.GAS
    Natural Gas
    COMMODITY FUTURES
    Corn0.25
    Soybeans0.25
    Wheat0.25
    Coffee1
    Cocoa20
    Rice0.25
    Sugar0.05
    Cotton0.04
    BASE METAL FUTURES
    Copper0.002
    CURRENCY FUTURES
    EUR0.0002
    Euro Futures
    JPY0.0002
    Japanese Yen Futures
    AUD0.0002
    Australian Dollar Futures
    GBP0.0002
    British Pound Futures
    CHF0.0002
    Swiss Franc Futures
    USDIndex0.015
    Dollar Index

    5) Shares

    See all IronFX’s Shares

    SymbolMinimum Spread1
    #AA0.03
    Alcoa, Inc.
    #AIG0.03
    American International Group, Inc.
    #AXP0.03
    American Express
    #BA0.03
    Boeing
    #BABA0.07
    Alibaba Group Inc.
    #BAC0.03
    Bank of America
    #C0.03
    Citigroup, Inc.
    #CAT0.03
    Caterpillar, Inc.
    #CSCO0.03
    Cisco Systems, Inc.
    #CVX0.03
    Chevron Corporation
    #DD0.03
    DuPont
    #DIS0.03
    Walt Disney
    #GE0.03
    General Electric
    #HD0.03
    Home Depot, Inc.
    #HPQ 0.03
    Hewlett Packard Co.
    #IBM0.03
    IBM
    #VZ0.03
    Verizon Communications, Inc.
    #INTC0.03
    Intel Corporation
    #JNJ0.03
    Johnson & Johnson
    #JPM0.03
    JPMorgan Chase & Co.
    #KO0.03
    Coca-Cola
    #MCD0.03
    McDonald's Corporation
    #MMM0.03
    3M
    #MRK0.03
    Merck & Co, Inc.
    #MSFT0.03
    Microsoft Corporation
    #ORCL0.03
    Oracle Corp.
    #PFE0.03
    Pfizer, Inc.
    #PG0.03
    Procter & Gamble Co.
    #T0.03
    AT&T, Inc.
    #TRV0.03
    Travelers Companies, Inc.
    #RACE0.1
    Ferrari
    #UTX0.03
    United Technologies Corporation
    #WMT0.03
    Wal-Mart Stores, Inc.
    #XOM0.03
    Exxon Mobil Corporation
    #FB0.03
    Facebook Inc.
    #AAPL0.61
    Apple Inc.
    #GOOG0.2
    Google Inc.
    #AMZN0.1
    Amazon.com Inc.
    #EBAY0.07
    eBay Inc.
    #GS0.07
    Goldman Sachs Group, Inc.
    #WFC0.03
    Wells Fargo & Co
    #TWTR0.07
    Twitter Inc.
    #JCP0.1
    J. C. Penney Company, Inc.
    #BBRY0.1
    BlackBerry Limited
    #F0.03
    Ford Motor Co.
    #GM0.03
    General Motors Company
    #GPRO0.07
    GoPro Inc.
    #TSLA1.5
    Tesla Motors Inc.
    #NFLX0.4
    Netflix, Inc.
    #SBUX0.07
    Starbucks Corporation
    #MS0.03
    Morgan Stanley
    #PYPL0.04
    Paypal Holdings Inc.
    #HOG0.07
    Harley-Davidson Inc.
    #MA0.07
    Mastercard Inc.
    #BIDU0.1
    Baidu Inc.
    VISA0.07
    Visa Inc.
    LockHeedMT0.07
    Lockheed Martin Corp.
    Nike0.1
    Nike Inc.
    PepsiCo0.65
    PepseCo Inc.
    JD.com0.11
    JD.com, Inc.
    NVIDIA0.3
    NVIDIA Corporation
    ATHENEX0.17
    Athenex, Inc.
    Altice0.21
    Altice USA, Inc.
    #RIO2
    Rio Tinto Plc.
    ALTABA0.1
    Altaba Inc.
    COLGATEPALM0.5
    Colgate-Palmolive Company
    SNAPCHAT0.19
    Snap Inc.
    NETEASE0.5
    NetEase Inc.
    Equinix0.83
    Equinix Inc.
    Qudian0.27
    Qudian Inc.
    Albemarle0.31
    Albemarle Corporation
    Best0.21
    Best Inc.
    WilliamH0.65
    William Hill plc
    UK Shares
    #AAL1
    ANGLO AMERICAN PLC
    #BARC0.2
    Barclays PLC
    #BLT1
    BHP BILLITON PLC
    #BP0.2
    BP PLC
    #BTA0.2
    BT Group PLC
    #GSK1
    GlaxoSmithKline PLC
    #HSBA0.2
    HSBC Holdings PLC
    #LLOY0.15
    LLOYDS BANKING GROUP PLC
    #TSCO0.4
    TESCO PLC
    #VOD0.2
    VODAFONE GROUP PLC
    RollsRoyce2
    RollsRoyce Holdings plc
    Unilever3
    Unilever Plc
    Samsung4.5
    Samsung Electronics Co Ltd.
    SHELL2.5
    Royal Dutch Shell Plc.
    French Shares
    Total0.45
    Total SA
    BNPParibas0.07
    BNP Paribas
    SocGeneral0.06
    Societe Generale
    Vivendi0.05
    VIVENDI
    Airbus0.31
    AirBus Group SE
    Renault0.59
    Renault SA
    German Shares
    Allianz0.1
    Allianz SE
    B.M.W0.85
    BMW AG
    Commerzbnk0.06
    COMMERZBANK AG
    DeutscBank0.06
    DEUTSCHE BANK AG
    DeutscPost0.06
    DEUTSCHE POST AG
    Lufthansa0.05
    DT LUFTHANSA AG

    6) Cryptocurrencies

    See all IronFX’s Cryptocurrencies

    Currency PairMinimum Spread
    BITCOIN100
    BITCOINM100
    BTCUSD50
    BTCEUR55
    BTCJPY6000
    ETHUSD5
    ETHEUR5
    XRPUSD0.25
    LTCUSD10

    IronFX Account Types

    IronFX offers eight types of live trading accounts for retail traders as well as four types for institutional traders. The number of live trading options seems unnecessarily confusing given that most traders would be well served by the first three options. This review will focus solely on the different types of retail accounts.

    The main difference between real and STP/ECN accounts is in execution. Real accounts have instant execution that involves the use of re-quotes, while STP/ECN accounts have market execution where no re-quotes are involved. Additionally, IronFX uses a different liquidity provider, which accounts for the difference in spreads.

     MicroPremiumVIPLive Zero Fixed SpreadSTP/ECN No CommissionSTP/ECN Zero SpreadSTP/ECN Absolute ZeroMirror Product
    Max. LeverageBased on specific parametersBased on specific parametersBased on specific parametersBased on specific parameters1:2001:2001:200Offers the following features:
  • A LOWER RISK, TOTAL RETURN STRATEGY
  • Lower stop-out levels
  • Instant internal transfers
  • Greater leverage - up to 1:200 on STP account
  • Min. Deposit$100$2,500$20,000$500$500$500
    Base CurrencyUSD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUF, CZKUSD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUF, CZKUSD onlyUSD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUFUSD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUFUSD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUFUSD, EUR
    Min. Lot Size0.010.10.10.010.010.010.01
    Lot Increments0.010.010.010.010.010.010.01
    CommissionN/AN/AN/A$18/Lot on EUR/USD
    $18/Lot on USD/JPY
    $23/Lot on GBP/USD
    $23/Lot on USD/CAD
    $23/Lot on USD/CHF
    $23/Lot on EUR/GBP
    $23/Lot on AUD/USD
    $28/Lot on EUR/CHF
    $28/Lot on NZD/USD
    $28/Lot on EUR/JPY
    $43/Lot on GBP/CHF
    $43/Lot on GBP/JPY
    N/AProfessional - $7.5/Lot on FX; Gold $10/Lot
    Normal - $13.5/Lot on FX; Gold $30/Lot
    Affiliate - $18.5/Lot on FX; Gold $40/Lot
    Affiliate Plus - $23/Lot on FX; Gold $40/Lot
    0
    Spread on EUR/USD as low as:Floating Account  1.1
    Fixed Account 2.2
    Floating Account  0.7
    Fixed Account 1.8
    Floating Account  0.5
    Fixed Account 1.6
    0 fixed1.70

    IronFX also offers four types of demo accounts:

    • Demo STP/ECN Absolute Zero
    • Demo Floating Spread
    • Demo STP/ECN No Commission
    • Demo STP/ECN Zero Spread

    IronFX Spreads and Fees

    The underlying financial instrument and the type of account determine the IronFX spreads that traders pay.

    IronFX receives its compensation both through the market bid/ask spread and through commissions depending on the type of account you have. Listing the spreads for each of the eight types of accounts would be lengthy, so traders should consult the Account Spread Comparison section of the IronFX website for more details.

    Other relevant fee information:

    Commission Fees: IronFX charges commissions to clients on some types of trades. Please see the account table above.

    Deposit Fees: IronFX does not charge any fees for deposits. Your respective banks or payment providers, however, might charge you additional fees.

    Withdrawal Fees: IronFX charges withdrawal fees depending on the method of withdrawal:

    MethodFee
    Credit and Debit CardsUp to EUR 1.5 per transaction
    Bank WireNone
    Skrill1% capped to USD 10,000
    Neteller2% capped to USD 30.00 / minimum USD 1.00 per transaction
    FasaPay0.5% per transaction (max approx. $5)
    China UnionCNY 20 per transaction
    DotPayN/A

    Account Requirements

    When you click on the green “Register” button on the IronFX website, the system asks you to pick your country of origin from a drop-down menu. Before you can trade with IronFX for the first time, you need to answer a few questions. You enter your name, email, country of origin and phone number. IronFX also asks you questions about your financial status and trading experience.

    You then choose the type of account, your base currency and the leverage with which you want to trade. IronFX then asks you to select a password for your account.

    After completing this information, traders have to provide IronFX with information to verify their account and then fund their account with a deposit.

    To pass their identity verification, they need to upload one document for proof of identity and one for proof of address. You can browse and attach these forms or upload them through your mobile device.

    DocumentCommentary
    Acceptable documents:
  • Passport
  • National Identity Photocard
  • Other document with your photo that was issued by a reliable and independent source
    You must send IronFX both sides of your document
  • Documents must clearly show the following:
  • Photograph
  • Signature
  • Issue and expiry dates
  • Personal details, including serial number, must be clearly visible
  • Acceptable documents:
  • Utility bill
  • Local authority tax bill
  • Bank or credit card statement
  • Documents must be dated in the last six months

    Traders can deposit and withdraw funds with IronFX using one of several different methods:

    MethodFee
    Credit and Debit CardsNone
    Bank WireDepends on the corresponding and intermediary banks. IronFX does not apply any fees.
    SkrillNone
    NetellerNone
    FasaPayNone
    China UnionNone
    DotPayNone
    Mail Order and TelephoneNone

    Please see the above account table for minimum deposit amounts and leverage amounts.

    Withdrawals and Withdrawal Times

    (Note: Please see chart above in IronFX Spreads and Fees section for withdrawal fees.)

    IronFX traders can withdraw profits made from trading only via bank wire. You can receive your initial deposit via the payment method initially used and then all excess funds (profits) will be sent to your bank account. In order for the above to take effect, you need to apply for a bank withdrawal from the IronFX client portal.

    The broker does not advise about times for withdrawals to arrive. However, IronFx says that payment and funding authorization are 100% automatic.

    IronFX Platform Review

    IronFX offers several platforms for PCs and Macs, tablets and mobile devices. Essentially, all of these offerings center around three platforms: MetaTrader4 (MT4), WebTrader4 and Personal Multi-Account Manager (PMAM). Since PMAM is designed for professional money managers, this review will focus on the first two offerings.

    The main page of the MT4 platform has the look and layout associated with other MT4 broker offerings.

    IronFX Platform

    The MT4 platform is often regarded as the leading forex and CFD trading platform for retail customers. MT4 is ideal for technical traders because it offers dozens of technical charting tools and allows for customization.

    The IronFX MT4 platform offers the following:

    • Activity reports
    • Charting tools
    • Real-time news
    • Real-time price feeds
    • Experts Advisors (EAs) and scripts packages
    • Feature-rich ticket
    • Customizable menu of technical indicators

    One of the best features of the IronFX MT4 platform is the ticket. The side-by-side tick chart allows you to easily follow recent moves in the instrument before trading:

    IronFX Ticket

    If there is a downside to the IronFX MT4 platform, it’s the fact that the live platform operates separately to the demo platform. Integrating these together would have been a nice touch.

    The WebTrader4 platform is a web-based application. Traders can access all different asset classes as well as news, charts and activity reports.

    IronFX Demo Account

    Traders can open several types of demo accounts with IronFX.

    • Demo STP/ECN Absolute Zero
    • Demo Floating Spread
    • Demo STP/ECN No Commission
    • Demo STP/ECN Zero Spread

    IronFX Demo Accont

    The different types of accounts seem superfluous and confusing, and each account operates as a stand-alone from the live platform. It would be better if these were integrated into the live trading platform.

    Nevertheless, the demo accounts look like the live accounts and traders get the same functionality.

    IronFX Education Resources

    IronFX has an academy that offers events to customers including webinars, live seminars, a forex encyclopedia and educational videos. IronFX also attends expos and events on a regular basis in different cities around the world, which allows traders to interact directly with their representatives.

    IronFX Sign-Up Bonuses and Promotions

    IronFX offers a wide array of different promotional offers to their clients. Throughout the year, the broker holds live trading competitions, the winner of which has the choice between rewards and cash prizes. The broker also offers these promotions:

    • Demo Trading Competition: Cash prizes of up to $30,000 for winners of this competition.
    • VIP Account Promo: A promotion to upgrade to an account with special features.
    • Free VPS Hosting: IronFX offers free VPS hosting to new and existing clients who deposit a minimum of $5,000 and maintain this balance for the following months.
    • IronFX Card: A prepaid MasterCard denominated in USD or EUR.

    PLEASE NOTE: At present, we do not recommend IronFX (See Why). Please consider one of our other regulated brokers.

    Start Trading Commodity CFDs Today at Plus500

    CFD Service. 80.6% lose money.

    Learn More