IronFX Review 2023 Is Legit or Scam

After signing up, you need to send your identity documents and they’ll verify your account. But right now, it has taken licenses individually from UK & Australia to run their operations on those countries. On the other hand, Web Trader 4 only supports Windows & Mac PC environment.

In addition to other educational materials, IronFX has a Forex encyclopedia to sharpen their customer’s trading skills. The deposit and withdrawal methods for an IronFX account are listed below, along with their deposit and withdrawal fees , restrictions and maximum transaction amounts. Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts.

In fact you can choose whatever you want, as all of them suit positional traders. Those ones interested in opening long-term positions, should be ensured with quite small spreads, however, it’s’ not really crucial as to scalpers for example. That’s why there is no obvious difference among all the presented account types for investors. Educating yourself on how to trade the financial markets can make the difference between success and failure.

Research Tools and Insights

Last, but not least, IronFX has also an amazing mobile platform you should definitely test, too. All you need to do is to download the mobile Forex app for the IronFX broker and to install it on your favourite mobile device. The more traders know about this scam forex broker and stop opening accounts with IronFx, this can cause it to run out of business. We highly recommend IronFX for those of you looking for a top-notch broker. However, we would always advise traders to start off with small trades to begin with, or better still open a demo account to get a feel for the broker before risking any real money. On an unhappier note, though, we also found a number of negative reviews, although they seem to centre around withdrawals.

I don’t mind paying the small commission fee as the broker needs to cover costs somehow. Cryptocurrency is one of many instruments that IronFX provides. A trading instrument is a different type of market you can trade with. There are several different trading instruments, some are more volatile than others.

IronFX Regulations

Bank Wire– bank wire deposit fees are contingent on the corresponding and intermediary banks. Bank wire deposits have no restrictions and IronFX does not charge a fee. For new users looking to trade for the first time, or for more experienced ones hoping to sharpen their skills, IronFX has a well-resourced and feature-rich education section. On the regulatory side of things, IronFX is currently regulated by a number of authorities across Europe and Australia. This means that IronFX is about as well regulated as you can expect from a broker of their size. Sign up to our newsletter in order to receive our exclusive bonus offers and regular updates via email.

The commission is 18 USD per lot on major pairs, and 23 USD per lot on minors. The minimum deposit requirement on this account is also 500 USD. Again, the commissions on this account make it unpalatable for most traders. IronFX clients can choose between floating/fixed spread Standard, Premium, and VIP accounts. Live Zero Fixed Spread account offers zero spreads, but traders will have to pay a commission.

IronFX provides support via online chat, phone, and e-mail. IronFX received a high score for Customer Support in our rating due to professional and timely responses and multiple supported languages. Limit order, which is used to buy or sell the instrument at a preset price, or better. This order is used when the trader wants to establish a position at a certain level and is not willing to pay current market prices. Using limit orders is a good way to control risks because the trader controls the price that will be paid.

What Can You Trade with IronFX?

Our team is always ready to assist you with any queries or concerns you may have regarding our services or products. We take pride in providing our clients with excellent customer support and aim to ensure that all inquiries are addressed promptly and efficiently. Please feel free to reach out to us at any time, and we’ll be more than happy to assist you. In terms of leverage, the broker offers leverage ratios of as much as 1 to 500 on some trading instruments, such as forex currency pairs for example. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.

At TradersBest, we always try to find a trading platform that ticks all the boxes and provides something a little different from the competition. Personally, I was not very impressed by trading with IronFX. Yes, the brokerage has very profitable and interesting trading conditions, but there is still a lot to work on. IronFX Virtual Private Server is a robust and secure hosting solution for traders who want to trade Forex CFDs confidently. With IronFX, you can access a reliable VPS that provides the speed and security needed to ensure your trades are safe and successfully processed.

Folks tell me, is this a new broker or a company with experience?

This broker will take advantage from you whenever you get profit. IronFx claims that the company asked Cysec to help them investigate cheating clients. The FPA is astonished that anyone at that broker would have the nerve to make such an obviously false statement. Thanks so much for your fair and balanced review and for giving us your take on how our team is doing. We’re glad that customers like you are having a great experience with IronFX. This broker has excellent staff and speedy funding, my favorite being that bitcoin withdrawals are processed in less than five minutes no matter how much money you withdraw.

IronFX have won some prestigious awards since its inception in 2010. These include the Best Mobile Platform in 2014, and Best Forex Broker. IronFX Global Ltd is authorized and regulated by CySEC, and has various licenses and authorizations for a number of other countries, including Australia, UK, and South Africa.

Each clients account is provided with a unique code which is used to ensure that the funds are only for the funding purposes. One thing in particular I like that sets IronFX apart from many other trading brokers is their admirable support for a wide range of philanthropic and charitable activities. Going beyond daily operations, they engage with local communities, assisting in medical research and education. This shows strong business ethics and a responsible corporate attitude by supporting community development. Crypto trading is impossible, while the company offers CFDs on currency pairs, commodities, indices, and shares. According to the IronFX Account Types section, the spread varies from 0.0 to 1.8 pips, depending on whether you choose fixed or floating.

These features allow https://forexhero.info/ to stay on top of the markets and make informed trading decisions. For more information and details about our trading platforms, feel free to reach out to your IFX Expert or to our Customer Support team at IronFX Solid Trading. Hello Joseph & Gioele, Thank you for your interest in IronFX! Indeed, we do understand the importance of having access to reliable customer support when you need it. We’re pleased to inform you that our customer support team is available 24 hours a day, 5 days a week, excluding weekends, as the markets are closed during this time. You can easily reach our customer support team through various channels, including our live chat on the website, email communication, and telephone.

ironfx review offers various bonuses and contests for the investors signed with the Bermuda entity. For the offshore entity, payment methods are not specifically listed. However, according to reviews, we can conclude that the company mainly takes crypto payments, which is the least safe option.

It is a modern and new brokerage firm in the market, but it has gained huge market popularity with its advanced services. At the time of its operation with IronFX global in Cyprus, it has a regulatory issue with CySEC. But now it is regulated by UK’s most famous Financial Conduct Authority or FCA in UK and Australian Securities and Investment Commission or ASIC in Australia. Both of these regulatory bodies are highly popular among the brokers and traders around the world. Another important IronFX offering is its new social trading facility, which allows traders to copy some of the world’s best traders. IronFX provides round the clock customer support for clients in more than 180 countries in Europe, Asia, Africa, South America and the Middle East.

Trading Conditions – Great value conditions to work with

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. In addition, tiers apply only to forex, with all account types paying similar spreads and/or commissions when trading CFD or spot instruments. Several pages not properly linked to the main site announce the availability of cryptocurrency trading but our reviewer found no contract, spread, or fee information.

Fees apply for some of the methods, and there are also minimum and maximum amounts that apply. Things started to go a little awry, in 2015, when 160 complaints were filed by a number of Chinese affiliates. An investigation was announced by CySEC, but all charges against the firm were settled. A number of lading industry directories were told by IronFX they were leaving regulations. These included CRFIN of Russia, CONSOB of Italy, and BaFIN of Germany. A number of other offices have been closed in countries such as China, and Nigeria.

• In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded.
• That’s why I also tryna choose the proper time for trading, when there is a small number of participants and the demand on the asset is low.
• Overall, IronFX can be summarised as a trustworthy and regulated broker that is authorized and regulated by the Financial Sector Conduct Authority.
• This broker provided me with an advanced user guide, which explaines everything in detail.
• In case of any potential issues, contact our chargeback experts for help with a refund.

Entities within the group are authorized and monitored as follows – Notesco Financial Services Ltd , Notesco UK Limited and Notesco Pty Ltd . This ensures customers from over 180 countries can access 13 platforms and more than 300 instruments available in Forex, spot metals, stocks, futures, and other instruments. The spreads on Standard accounts start from 1.8 pips, while from 1.6 pips on Premium accounts, from 1.4 pips on VIP accounts, and fixed at 0 pips on Zero Fixed accounts. Spread for No Commission accounts starts from 1.7 pips, from 0 pips on Zero Spread accounts and 0.3 pips on Absolute Zero accounts.

IronFX has entities that are regulated by CySEC, FCA, and FSCA. The broker also has an unregulated entity based in Bermuda, which led to a below-average score in our rating. IronFX received a high score in the Instruments category due to the high number of forex pairs, commodities, and indices.

Plus, it provides a complete data about available assets, leverages, account types and trading platforms. Risk Warning – Trading CFDS, FX and Cryptocurrencies involves a high degree of risk. You should consider whether you can afford to take the risk of losing your money. IronFX WebTrader – This is the in-house trading platform offered by IronFX, and requires no download or software installation.

🤩😃 As a client-centric company, we are always looking for ways to improve our services and enhance your trading experience. Currently, we offer two trading platforms, MT4 & Copy Trading with TradeCopier. 👀 Please log into your account for more information or email us at Glad to help! IronFX operates several trading platforms, offering more than 200 trading instruments, including Forex, futures, spot metals, and shares. IronFX offers its services to both retail and institutional customers in more than 180 countries across the globe.

The IronFX broker gives you several bonuses according to the deposits you make, but keep in mind that the VIP account is paid. IronFX is one of the most popular brokers across the world. Moreover – it has thousands of regular customers that guarantee the perfect execution of the trades, as well as the high level of safety and amazing customer support.

If you are looking for the smallest possible spreads , then you may consider the zero spread accounts. These do charge a very competitive commission which varies depending on the level of the account. In general, the more you deposit, the lower the commission will be.