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IronFX

7.45
Total score

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IronFX, known in the global market for over a decade, offers services for active trading and passive income generation. The company is registered in Bermuda and claims to hold several licenses, including CySEC (Cyprus, 125/10) and FCA (UK, 585561), although regulatory issues remain open due to noted inconsistencies in the information provided.

The broker’s support team claims that the company has the necessary authorizations to operate, but a detailed analysis reveals certain inconsistencies described in the “Security Assurance” section. It is important to emphasize that the absence of specific licenses may mean insufficient protection of investors’ interests and lack of guarantees that the broker will fulfill its obligations.

Over the years, IronFX has been honored with more than 30 awards in various categories, but the exact details of these achievements are not disclosed. This adds additional questions to the transparency and openness of the company’s activities in the financial market.

  • Account currency

    USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, CZK

  • Minimum deposit

    $50

  • Leverage

    1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM)

  • Spread

    Floating or fixed, from 0 pips

  • Instruments

    Currency pairs, stocks, metals, indices, futures, commodities

  • Margin call / Stop out

    Depending on the trading instrument

Pros

  • Round-the-clock multi-lingual support: On business days, IronFX clients can take advantage of a qualified support team working around the clock. This ensures uninterrupted communication with the broker and prompt resolution of any arising issues in multiple languages.
  • Wide range of trading assets: The company offers an extensive selection of trading assets, including currency pairs, stocks, commodities and other financial instruments, which allows traders to diversify their investments and use different strategies on one platform.
  • A variety of bonus programs and promotions: IronFX attracts clients not only with its trading services, but also with a variety of bonus programs and promotional offers that make trading more profitable and interesting.

Minuses

  • Lack of regulatory license: The company does not have an official license, which raises doubts about the legality and safety of its operations. This may entail insufficient protection of investors' rights and interests.
  • Incomplete information on the website: Lack of complete and transparent information about the company and its services on the official website can make it difficult for users to make informed decisions.
  • Multiple verification: The procedure of repeated verification may cause inconvenience and delays for customers wishing to start trading or make transactions on the account.
  • Lack of educational materials: The lack of educational resources on the broker's website limits the ability of beginners to learn trading effectively.
  • Delays in withdrawal of funds: Periodic delays in processing withdrawal requests can cause inconvenience and concern among traders.
  • Problems with the trading platform: Users report periodic crashes and errors in the MetaTrader 4 platform, which in some cases resulted in financial losses.
  • Frequent slippages: Liquidity problems and delays in order execution indicate possible difficulties of the broker with liquidity providers.
  • Quote inconsistency: Differences in quotes when comparing IronFX data to those on platforms like TradingView or Oanda can raise questions about the accuracy and fairness of pricing.

Customer geography

  • France
    16.55%
  • Italy
    9.46%
  • India
    6.89%
  • Iran
    6.34%
  • Japan
    5.79%
  • Cyprus
    4.12%
  • Brazil
    3.87%
  • United Kingdom
    3.42%
  • Switzerland
    1.79%
  • Germany
    1.6%
  • Others
    29.17%

Expert evaluation

James Anderson
Financial analyst, exper

IronFX positions itself as a reliable partner in the world of trading, promising strict fulfillment of its obligations to its clients. The company provides a variety of trading accounts suitable for both beginners and experienced traders, as well as the opportunity to earn passive income by copying the trades of professionals.

The broker supports its clients through the educational platform – IronFX School, offering extensive materials for learning the basics of trading. IronFX regularly launches various bonus programs and promotions with cash prizes, keeping its users active.

The company’s website has a multi-lingual interface and provides full information about trading conditions. In addition, for the convenience of trading, IronFX has developed its own web application, offers private virtual VPS hosting services and special trading widgets. The innovative TradeCopier terminal allows clients to copy the strategies of successful traders.

IronFX clients can earn not only by trading currencies, metals, indices, commodities, futures and stocks, but also by participating in the broker’s affiliate program, attracting new active participants.

Analysis

7.45
Overall score
7.24
Order execution
7.66
Investment instruments
7.3
Withdrawal speed
7.6
Customer support performance
7.08
Number of instruments
7.82
Trading platform
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Ribeit

IronFX, cooperating with the International Organization of Financial Traders (IOFT), offers its clients a unique opportunity to receive additional financial bonuses. To activate this offer, traders need to register on the MOFT website, open an account with IronFX through the organization’s referral link and start trading as usual.

The main bonus here is the rebate, i.e. the return of a part of the spread for each transaction made, regardless of its results. This means that a trader receives financial benefits for both profitable and unprofitable operations.

Specifically, for the EUR/USD currency pair, IronFX pays MOFT 0.5 pips for each lot. The size of these payments can vary from 0.4 to 50 pips depending on the selected trading instrument. In the case of EUR/USD, assuming a standard spread of 1 pip per lot, which is equivalent to $10, cooperation through MOFT allows a trader to receive a rebate of 80% of MOFT commission, which is $4 return per lot per day.

Thus, participation in the MOFT rebate program can significantly reduce trading costs and increase the overall profitability of trading. This opportunity is available to all IronFX clients and is recommended for consideration by all interested traders.

Trading condition

IronFX offers its clients a number of conditions for active trading, which may not seem too comfortable for all categories of traders. The minimum amount to deposit into the account is set at $50, which is affordable for most users. However, the size of leverage, which can vary from 1:1 to 1:1000, requires clients to be very careful and adjust it independently, which adds complexity to risk management.

One notable disadvantage is the discrepancy between the spreads stated on the website and the actual commission fees that traders pay during the trading process. Real spreads can be two to three times higher than stated, which negatively affects the transparency of trading conditions and can lead to unexpected costs for traders.

In addition, the use of maximum leverage is associated with high risks, including potential significant financial losses. Such conditions require IronFX clients not only to be careful and accurate in trading, but also to have a deep understanding of the markets and their investment opportunities.

  • Trading platform

    MetaTrader 4, MetaTrader 5. Social Trading/ Copy Trading with TradeCopier

  • Accounts

    Live Floating/Live Fixed: Standard, Premium, VIP, Privilege, Cent Account STP/ECN Accounts: No commission, Zero Spread, Absolute Zero

  • Account currency

    USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, CZK

  • Deposit/withdrawal

    Bank transfer, local bank transfers, credit/debit cards, payment apps (Skrill, Neteller), digital assets

  • Minimum deposit

    $50

  • Leverage

    1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM)

  • PAMM accounts

    yes

  • Minimum order

    0.01

  • Spread

    Floating or fixed, from 0 pips

  • Instruments

    Currency pairs, stocks, metals, indices, futures, commodities

  • Margin call / Stop out

    Depending on the trading instrument

  • Liquidity provider

    Not specified

  • Mobile trading

    yes

  • Affiliate program

    yes

  • Order execution

    ECN, STP, Market Maker

  • Trading features

    Indicators, Advanced Terminal, PMAM, Copier, Web Trader App

  • Contests and bonuses

    yes

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Commissions

Specialists of the International Organization of Financial Traders (MOFT) conducted a detailed analysis of IronFX’s trading and non-trading commissions. The results of the study confirm that IronFX does not charge hidden trading fees, which is a significant advantage for traders.

As a rule, there are no commissions for deposits and withdrawals at IronFX, which makes financial transactions more attractive for clients. However, it should be taken into account that individual trading fees may be set by the very payment systems through which transactions take place.

At the same time, the company applies a commission for carrying an open position to the next trading day, known as swap. For clients who adhere to Islamic financial principles, IronFX offers a special feature – the ability to disable swaps on their trading accounts.

These conditions make IronFX an attractive choice for a wide range of traders seeking to minimize their costs and optimize their trading strategy to suit their financial and cultural preferences.

Account type
Spread / commission
Withdrawal fee
Micro
From 1$
No
Premium
From 16$
No
VIP
From 14$
No
Zero Fixed
From 0$
No
No commission
From 17$
No
Zero Spread
From 0$
No
Absolute Zero
From 3$
No

Broker Overview

IronFX, an international broker, provides services to traders all over the world, striving to create the most comfortable conditions for trading. The company actively develops both opportunities for active trading and services for passive income, such as copying trades of professionals.

IronFX offers a wide range of trading instruments, including both traditional and exotic currency pairs, stocks, metals and commodities. This makes the broker an attractive choice for traders with diverse trading interests.

Key facts about IronFX:

  • More than 1.2 million traders have chosen IronFX for trading.
  • Support service is available five days a week, around the clock.
  • During ten years of operation, the company has received more than 30 different awards, both local and international.
  • More than 200 trading assets are available for trading.

IronFX offers a wide range of trading accounts: from demo accounts to seven types of real accounts, including micro accounts for beginners and classic accounts with professional accounts for experienced traders. A special feature of professional accounts is the STP/ECN mechanism, which ensures fast execution of orders in the interbank market.

IronFX trading platforms include:

  • Classic MetaTrader 4;
  • Portable version of WebTrader;
  • Research mobile application;
  • Professional PMAM platform with free VPS hosting.

IronFX Additional Services:

  • Currency converter for direct conversions on the broker’s website.
  • PIP calculator that allows you to calculate the pip size for different currencies.
  • Margin calculator, which helps to determine margin requirements for trading operations.
  • Profit calculator for calculating potential income from trades.
  • AutoTrade is a service for copying strategies of successful traders, contributing to passive earnings.

IronFX is the optimal choice for traders looking for a reliable broker with a full range of trading services and support.

Instruction for a trader: How to start earning with a broker

The broker offers a variety of trading accounts adapted both for beginners in the currency market and for more experienced traders. The choice of account depends on your trading experience, preferences in base currency, acceptable level of spread, leverage, minimum volume of transactions and the presence or absence of commission for transactions.

Types of Accounts:

  • Micro: Ideal for beginners. Base currencies include 12 options, including cryptocurrencies. Spreads start from 1.8 pips, leverage up to 1:1000. Trading in 0.01 micro lots without commission.
  • Premium: Suitable for beginners, offering 8 variants of base currencies and spreads from 1.6 pips. Trading conditions are similar to Micro account.
  • VIP: Improved conditions for beginners. Available in USD only, with spreads from 1.4 pips.
  • Zero Fixed: For advanced users, offers 0.01 lots and spreads from 0 pips. Trading account is available in USD or EUR, maximum leverage 1:500. Commission is charged for transactions.
  • No Commission: For experienced traders. Available in USD, EUR, JPY, BTC, with spreads from 1.7 pips and maximum leverage of 1:200. Micro lots trading without commissions.
  • Zero Spread: Professional account with 0.01 lots and spreads from 0 pips. Commission for transactions is charged.
  • Absolute Zero: For professional trading. Available in USD, EUR, JPY, with the ability to trade microlots and spreads from 0.3 pips. Leverage up to 1:200, no commissions.

Important notes: Real trading conditions, especially spreads on major currency pairs, may differ significantly from those stated on the website, especially during periods of high volatility, where spreads may be 2-3 times higher. Funding your account in BTC can be risky due to the lack of cryptocurrencies among trading assets and the high volatility of Bitcoin, which increases the risk of significant financial losses.

This information will help you choose the right type of account and strategically approach trading, minimizing risks and increasing potential profits.

Bonus programs from IronFX

IronFX offers its clients various bonus programs that are designed to increase trading capital, but with certain limitations:

1. 100% Unlimited Sharing bonus
A trader’s initial deposit is doubled under this program, subject to the rules set by the broker. It is important to note that although the bonus doubles the deposit, it cannot be withdrawn; it is deducted on any withdrawal. This makes the bonus similar to leverage used to increase trading potential, rather than an actual increase in balance.

2. 40% Power Bonus up to $4000
This program offers up to 40% bonus on deposit amounts up to $4000. Similar to the previous offer, these bonus funds cannot be withdrawn and are designed to increase trading volume, motivating the trader to deposit larger amounts.

3. 20% Iron Bonus up to $2000
Traders depositing up to $2000 can receive up to 20% bonus depending on account activity and profitability. Like other programs, these funds are provided for use in trading and are non-withdrawable.

Features and terms of use of bonuses:

  • Stop-out: Applies only to the trader’s own funds, not affecting bonus funds. For example, if an account has $50 of equity and $50 of bonus funds, a stop-out at 20% will be applied to $40 (80% of equity). As a result, the trader will only have access to $40 of his own funds for trading.
  • Program selection: The trader must choose one of the offered bonus programs during registration, and this decision will determine the terms of his trading activity.

These bonus programs are designed to increase the trading potential of IronFX clients, but it is important to read the terms and conditions of their use carefully to fully understand your financial capabilities and limitations.

Withdrawal and deposit process at IronFX

At IronFX, the withdrawal process begins with submitting a request through myAlpari, in the “Transactions” section, selecting the “Withdrawal” option. Traders can submit an unlimited number of withdrawal requests, and without commissions from the broker. However, it should be taken into account that payment systems may charge a trading fee for processing transactions.

Traders can use a variety of methods to fund their trading account, including credit and debit cards, bank transfers, cryptocurrency wallets, and electronic payment systems such as Neteller, UnionPay, Skrill and Perfect Money. All methods except bank transfer usually guarantee to credit your account within one day. In case of bank transfer, the processing time may take 5 to 7 business days.

Funds can be withdrawn and deposited in several currencies, including USD, EUR, GBP, AUD, AUD, JPY, BTC, PLN and CZK, giving traders the flexibility to choose their currency transactions.

A critical requirement for all financial transactions is account verification. This requirement helps ensure transaction security and regulatory compliance.

IronFX investment programs

IronFX offers a variety of investment programs aimed at both active traders and those who prefer passive income. For active trading, the broker provides convenient trading conditions, and for passive income – the opportunity to use the service of copying trades of professionals.

AutoTrade – a platform for passive trading

This platform allows traders to earn by copying trades of experienced professionals. To get started, you need to create an account, fund a trading account and link it to AutoTrade. The selection of traders for copying trades is based on the rating, which allows you to evaluate their results and risk level.

Features of the AutoTrade platform:

  • Intuitive interface: Allows even novice investors to easily get used to the platform.
  • Trader Rating: Helps to choose the most suitable professionals for copying trades.
  • Reporting: Provides complete information about the results of copying trades, which facilitates the development of an effective trading strategy.
  • Risk Management: Provides tools to customize risk parameters according to user preferences.

IronFX Affiliate Programs

IronFX offers several affiliate programs, each designed for different categories of users:

  • Introducing Broker: Opens up opportunities for additional bonuses and competitions, offering the best trading conditions and rebates.
  • Affiliates: The program is designed for individuals attracting new clients. Remuneration can reach up to 15 USD per lot made by a referral. The broker provides necessary marketing materials and specialist support.
  • White Label: A program for individuals and organizations interested in developing their own online trading business.

Transparency and support issues

However, it should be noted that the IronFX website does not always have full information about affiliate programs, and there is no possibility to get acquainted with the full terms and conditions without preliminary registration. This creates certain difficulties in evaluating the broker’s offers and may raise doubts about its transparency. In addition, the support service is sometimes unable to provide detailed information on products and conditions, which can make it difficult to make a decision on cooperation.

It is important to critically evaluate all available information resources and make informed decisions based on reliable sources and your own analysis of the broker’s offers.

IronFX support service

IronFX provides its clients with a professional support team available 24 hours a day, Monday through Friday, to ensure that any questions or concerns users have are promptly addressed.

Ways to contact customer service include:

  • Email: Users can send an email describing their question or problem.
  • Hotline: A call can be made to the broker’s hotline for immediate assistance.
  • Online Chat: This option is ideal for quick communication and instant responses from support representatives.
  • FAQ: The FAQ section of the website will help you find answers to common questions without having to contact an operator.

Access to the support service is provided both through myAlpari and directly through the broker’s official website. This provides convenience and availability of assistance to all IronFX clients, ensuring that each request is handled efficiently and in the shortest possible time.

Advantages

  • Wide range of trading accounts: IronFX offers a variety of account types, allowing each trader to find an option that suits their experience, strategy and financial preferences. The availability of multiple accounts ensures that beginners and experienced traders alike can customize trading to their liking.
  • Choice of trading platform: IronFX clients can choose from several trading platforms, including the popular MetaTrader 4, the innovative WebTrader and a convenient mobile app. This gives traders the flexibility and ability to trade in any environment and from any device.
  • Leverage adjustment: IronFX allows its clients to adjust the leverage level themselves, which allows them to manage risks and optimize their trading strategy according to their individual preferences and market conditions.
  • Bonus programs and promotions: The broker regularly offers various bonus programs, promotions and contests that not only increase trading opportunities, but also add an element of fun and competition to the trading process. These initiatives motivate traders and increase their involvement.
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IronFX Personal Account Overview

Becoming an IronFX client and starting to receive rebates for trading is simple. Here’s a step by step guide on how you can join the platform and start trading:

1. Online registration

  • Go to the MOFT website and make a quick registration.
  • Follow the referral link to the IronFX website and click “Register” or “Start Trading” on the home page.

2. Filling out the questionnaire

  • Fill in the form by entering personal data in English, select your country of residence, account type, leverage and base currency.

3. Setting a password and completing registration

  • Create a password to log in to your account and confirm registration by clicking on the “Open your trading account” button.

4. Confirmation and access to My Account

  • After sending an application to open an account, the broker will send login information to your e-mail address. After confirming the application, you will immediately get access to the Personal Cabinet.

Functions of myAlpari

The following functions and sections are available in myAlpari:

  • Financial operations: Account replenishment, withdrawals, transfers between accounts.
  • Partners: Affiliate program for additional earnings.
  • My Profile: Personal account settings.
  • My Accounts: Manage accounts and create new ones.
  • Trading Platforms: Selecting and customizing a trading platform.
  • Trading queries: Account settings, bonus information, password collection and recovery.
  • Tools: Utilities to speed up your work on the platform.
  • IronFX Card: Manage your IronFX Card, including inquiries and reviews.

This guide will help you easily get started with IronFX, optimize your trading and make the most of all available tools and features.

Answers to questions

  • How do I register with IronFX?

  • What deposit methods are available at IronFX?

  • What fees does IronFX charge when withdrawing funds?

  • What types of trading accounts does IronFX offer?

  • Can I participate in the IronFX affiliate program without trading on the platform?

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