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Regulated: Regulated by the FCA, ASIC, CySEC and more
Min Deposit: $500
Min Trade Amount: 0.01 Lots
US Clients:
Bonus: 60% Welcome Bonus plus Trading Contests
Leverage: 500:1
Free Demo Account:
Trading Platform: MT4, Web, Mobile and Desktop
Types of assets: Forex, Indices, CFDs, Stocks
Payment METHOD NAME Charge Time

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Full Review

About IronFX

IronFX is a Market Maker and an STP broker that started its operations in 2010 with its headquarters is in Limassol, Cyprus. IronFX has offices in the Uk, New Zealand, Australia, Russia and Ukraine and is licensed in all these countries for brokerage operations.  The various licensing information for each country where IronFX operates is listed as follows:

  • IronFX Global UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561)
  • IronFX Global (Australia) Pty Limited is authorized and regulated by ASIC (AFSL no. 417482)
  • IronFX Global NZ Limited is authorized and regulated as FSP (Registration no. FSP298966)
  • IronFX Russia LLC is a member of CRFIN (Membership no. A-8)
  • IronFX Global (Ukraine) LLC is a member of UCRFIN (Membership no. 5)
  • IronFX Global Limited is authorized and regulated by CySEC(License no. 125/10)

 

Special Offers and Bonuses

IronFX has an array of bonuses, contest and promotions that traders can benefit from. We shall therefore discuss them under the respective headings:

a)    Bonuses: Traders can access a welcome bonus of 60% of their account opening deposit. This is exclusively for new traders. There is also a Cash Rebate bonus in which traders can get a rebate of between $2 and $3 for every standard lot traded on forex and metal instruments. The exact rebate given depends on number of lots traded.

b)    Contests: There are trading contests held on both live and demo accounts. Presently, there is a reward of a fully paid VIP-style luxury holiday trip to Hawaii for the winner of the live trading contest, or a reward of $20,000 cash. For the 2nd and 3rd placed contestants, there is a reward of a 5-day holiday in Hawaii (or $10,000 cash) and a plane trip to Hawaii (or $5,000 cash) respectively. The packages are meant for 2 people, so a spouse can be taken along. There is also a monthly demo trading contest in which the winner can win a trip to London or $2,000, the runner-up gets $200 + a free forex educational package, and the 3rd placed contestant wins $50 and a free forex educational package.

c)     Promotions: There are several promotions that are held periodically on IronFX. In terms of promotions, IronFX gives out a free iPhone/iPad to those who can achieve specified volume targets on their trades.

 

Types of Trading Accounts

There are various trading accounts that have been created to match different trader profiles. This makes it easy for a trader on IronFX to identify the account type that will match his or her trading style and other metrics. The trading accounts on IronFX can be classified as Live Accounts and Real STP Accounts.

  1. Live Accounts

a)    Zero Fixed Spread Account: This is a multi-currency account which operates with ECN style conditions. Spreads are floating, and trades attract commissions, with commissions starting at $13.50 up to $43 for 1,000,000 units of currency traded. Minimum deposit is $500 with no ceiling, and leverage is set at 1:500.

b)    Micro account: The micro account has deposit limits, with a floor of $500 and a ceiling of $10,000. With a minimum trade size set at 0.01 lots and a leverage of 1:500, this is an ideal starting point for many traders. This is a multi-currency account type which can be maintained in GBP, USD, Euros, AUD, JPY, RUB and HUF.

c)     Premium Account: The minimum deposit on the premium account is as from $2,500. Leverage is set at 1:500, and minimum trade size is 0.1 lots. This is a multi-currency account which can be operated in GBP, USD, Euros, AUD, JPY, RUB and HUF.

d)    VIP Account: This is an account type that can only be operated in USD. It comes with a minimum deposit requirement of $20,000, and a maximum leverage of 1:500. Minimum trade size on the VIP account is 0.1 lots, with a floating spread variation of 1.4.

e)    Social Trading requires that traders open Sirix social trading accounts.

  1. Real STP Accounts

Two types of STP Accounts are available on IronFX. These are:

a)    STP No Commission Account: The spreads here start from 1.7 pips and minimum trade size is 0.01 lots. Trades are commission-free. Leverage is 1:200.

b)    STP Zero Fixed Spread Account: Spreads here are from 0 pips (reflecting the zero-spread status of this account), and minimum trade size is 0.01 lots. Traders have to pay a commission of $13.50 on all trades as from 1,000,000 units of base account currency. Leverage is 1:200.

For both account types, account opening balance is as from $500.

 

Trading Platform Features

The platform solutions by IronFX come in two forms

a)    PC/Web/Mac Trading Platform (downloadable)

b)    Mobile Trading platforms

 

–       The IronFX MT4 Platform comes in two versions for Windows and Mac users. These are the regular downloadable platforms that work on desktop computers and laptops. Such computers must run Windows Vista, Windows 7 and higher versions as well as SO X 10.x for Mac users.

–       IronFX WebTrader: This is the online forex platform which is accessible via a web browser and requires no downloads. The Personal Multi-Account Manager and the Multi-Trader platforms also work with online versions.

–       The Mobile Trading Platforms includes the BlackBerry BB10 Trader which is compatible with OS BB10 and higher versions, the Android Trader, iPhone/iPad Trader and PMAM Windows Trader. These platforms all use the MetaTrader4 enhanced builds.

–       The IronFX Sirix WebTrader is the social trading platform which enables clients of IronFX participate in forex social trading.

 

Commissions and Spreads

The spreads for currency pairs available for trading on IronFX are given in this table below:

Currency Pair Micro
As Low As
Premium
As Low As
Premium Fixed Account1 Micro Fixed Account1
AUDCAD 5.7 5.7 8 8
AUDCHF 6 6 7 7
AUDJPY 4 4 6 6
AUDDKK 30 30 35 35
AUDHUF 25 25 30 30
AUDNZD 9.5 9.5 10 10
AUDPLN 30 30 26 26
AUDSGD 8.8 8.8 10 10
AUDUSD 1.4 1 1.9 2.3
CADCHF 6 6 6 6
CADJPY 3.9 3.9 4 4
CADNOK 70 70 78 78
CADSEK 70 70 78 78
CHFPLN 15 15 30 30
CHFHUF 22 22 28 28
CHFJPY 3 3 3.5 3.5
CHFNOK 30 30 50 50
CHFSGD 8 8 8 8
EURAUD 4 4 5 5
EURCAD 5.7 5.7 6 6
EURCHF 1.4 1 2.7 3.1
EURCNH 22 22 39 39
EURCZK 30 30 30 30
EURDKK 5 5 10 10
EURGBP 1.1 0.9 1.7 1.9
EURHKD 20 20 20 20
EURHUF 38 38 45 45
EURJPY 1.5 1.1 2.2 2.6
EURNOK 50 50 45 45
EURNZD 14 14 10 10
EURPLN 38 38 40 40
EURMXN 80 80 90 90
EURRUB 20 20 36 36
EURSEK 50 50 45 45
EURSGD 10 10 10 10
EURTRY 14 14 19 19
EURUSD 1.1 0.7 1.7 2.1
EURZAR 100 100 95 95
GBPAUD 6 6 6 6
GBPCAD 6 6 6 6
GBPCHF 4.4 4 4.4 4.8
GBPDKK 40 40 55 55
GBPHUF 40 40 43 43
GBPJPY 4.4 4 4.2 4.6
GBPNOK 100 100 100 100
GBPNZD 15 15 12 12
GBPSEK 100 100 100 100
GBPPLN 25 25 33 33
GBPSGD 15 15 12 12
GBPTRY 21 21 23 23
GBPUSD 1 0.8 2.2 2.4
GBPZAR 300 300 250 250
HKDJPY 3 3 6 6
NZDCAD 7.7 7.7 8 8
NZDCHF 6 6 6 6
NZDHUF 40 40 46 46
NZDJPY 4 4 4 4
NZDSGD 10 10 10 10
NZDUSD 3.4 3 2.8 3.2
NOKJPY 3 3 7 7
NOKSEK 7 7 9 9
PLNJPY 4 4 5 5
SEKJPY 3.2 3.2 7.2 7.2
SGDJPY 5 5 8 8
TRYJPY 6 6 9 9
USDCAD 1.5 1.3 1.8 2
USDCHF 1.7 1.3 1.9 2.3
USDCNH 17 17 25 25
USDCZK 30 30 30 30
USDDKK 30 30 30 30
USDHKD 8 8 8 8
USDHUF 40 40 50 50
USDJPY 0.8 0.4 1.5 1.9
USDLTL 20 20 20 20
USDMXN 50 80 55 55
USDNOK 50 50 45 45
USDPLN 33 33 35 35
USDSEK 50 50 45 45
USDRUB 15 15 23 23
USDSGD 5 5 6 6
USDTRY 13 13 15 15
USDZAR 140 140 95 95
XAUUSD 0.5 0.5 0.5 0.5
XAUEUR 0.6 0.6 0.65 0.65
XAGUSD 0.04 0.04 0.05 0.05
XAGEUR 0.05 0.05 0.06 0.06
XPDUSD 3 3 3 3
XPTUSD 4 4 4 4
ZARJPY 3 3 7 7

 

Charting Packages

The various forex platforms in use on IronFX come with their own charting applications.

 

Education and Demo Accounts

IronFX operates an online forex training academy for those who want to learn forex. The training content includes:

a)    Webinars and offline seminars

b)    Forex expos

c)     Forex encyclopedia

d)    Educational videos

e)    An upcoming forex ebook

 

Customer Service

IronFX Customer Support can be contacted through the following means:

a)             Phone: +44(0) 203 282 7777

b)             E-mail: support@ironfx.com

c)              Live Chat.

Other dedicated phone lines and emails are available for issues regarding sales, funding requests and introducing broker issues.

 

Deposit and Withdrawals

Deposits and withdrawals on IronFX are done using credit/debit Cards, bank wire, Skrill, Neteller and WebMoney.

Deposit Limits

The minimum deposit amount allowed on IronFX depends on the account type, but generally starts from $500. There is no maximum deposit limit on all the account types except for the micro account which has a $10,000 deposit limit.

Withdrawal Limits

There are no minimum withdrawal limits on IronFX, even though for certain withdrawal methods, there are maximum limits. As such, there is a 2,500 USD withdrawal limit for withdrawals made using Skrill and Neteller.

 

Conclusion

Iron FX has extensive features which traders can make use of, from the various account types to the educational materials. Its extensive licensing also makes IronFX a safe environment with which to trade forex.