IronFx Review Is it a Scam or Legit Broker 2023

currency pairs
trading experience

Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service. A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money. Clients should note that both fixed and floating spreads are available for Standard, Premium, and VIP accounts. IronFX received a high score for the Account Types and Terms category in our rating.

Instead, you pay a deposit, which is called margin, while the remaining funds are borrowed. Traders who are mostly interested in stocks may take a look at other options available at the marketplace. As mentioned above, crypto pairs with various currencies are available for trading. Notesco Limited is a company registered in Bermuda and is unregulated.

account types

If you are new to trading online, then you will be pleased to find a demo account option. This can be the perfect way to get used to using the platforms and for testing your trading strategies in a risk-free environment. This is not something exclusive to this broker, you will find most have a demo account available. I am really impressed with the variety of accounts and think it is very advantageous how you can choose depending on what matters the most to you, whether that be low spreads or no commission fee.

Demo account

Typically, this order is necessary when the instrument’s price begins to move quickly. The main risk of this order is that you pay a spread, which is the difference between the bid price and the ask price. We tested the spread on the IronFX standard account during the London open at 8am UK time and just after the US open at 2.45pm UK time. IronFX received a below-average score in the Fees category due to high spreads for Oil, Dax, and Dow Jones. At the same time, it should be noted that the information about all company’s entities is not readily available on the IronFX website. To learn about other entities, traders should go to the Notesco website.

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Traders who open an account with Notesco UK Limited will benefit from the oversight of FCA, which is also a Tier 1 regulator. Meanwhile, clients who open an account with Notesco Pty Ltd will be protected by the regulatory oversight of FSCA, a Tier 2 regulator. IronFX received a below-average score in the Trust and Stability category as the unregulated entity in Bermuda hurt the score. IronFX is a regulated trading brokerage with numerous complaints on its account. In case of any potential issues, contact our chargeback experts for help with a refund.

They provide no guaranteed stop-losses but negative balance protection is now mandated under ESMA rules. Secondary security features are unimpressive, with standard encryption at the website and no two-tier platform authentication beyond Metatrader’s one-time passwords . 75.35% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. At IronFX we strive to deliver exceptional service to all our clients, both retail and institutional, by offering a wide range of products, the best-of-market spreads, and unmatched trading conditions globally. We continuously invest in product innovation and company personnel to meet the needs of our clients by delivering bespoke quality and unrivaled level of high-quality services.

Grand Trading Prix

IronFX also offers email support and live chat, as well as telephone and fax support from their central location. Clients can dial telephone numbers with direct lines to Introducing Brokers or IBs, client funding queries and their trading desk. Skrill– there is no charge for Skrill deposits, however, withdrawal fees are one percent capped to USD 10,000 with no restrictions and a maximum transaction amount of USD 50,000. Fasapay– there are no fees for deposits using Fasapay, with a 0.5 percent fee per transaction for withdrawals and a maximum of USD 5.00. Transactions are not subject to restrictions with a maximum transaction amount of USD 5,000. IronFX has the advantage of being run by a group of financial professionals that bring many years of experience to the table.

It supports traders who seek a passive revenue stream to supplement their trading activities. Beginner traders should source in-depth educational content elsewhere before trading at IronFX. One of the most ignored trading costs is swap rates on leveraged overnight positions.

offer

ironfx reviews made in different currencies are converted to the base currency of your trading account at prevailing exchange rates. While day traders and scalpers should not have to worry much about swaps, those who use longer-term trading strategies can incur this potential extra charge. IronFX offers an extensive choice of Contract for Difference instruments. The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks.

The online application processes new accounts in line with industry standards. The quick application grants traders access to the back office. In compliance with AML/KYC requirements, account verification is mandatory. That requirement can usually be satisfied by sending a copy of the trader’s ID and one proof of residency document.

#3 IronFX Cryptocurrency Review

This can be a great way for beginners to get a feel for the market and gain confidence before making their first trades. Please let us know if you have any further questions or if there is anything else we can assist you with. Traders can choose between multiple account types depending on their goals and trading style. From live floating spread and live fixed spread accounts to STP/ECN accounts, traders can choose accounts with floating or fixed spreads or low to zero commission. They can also test their trading skills on a demo account. Clients can deposit and withdraw funds using a variety of funding methods, including credit card/debit card, bank wire, Skrill, Neteller, and DotPay.

  • Most notably, the broker offers its own version of the popular, straightforward and sophisticated MT4 platform.
  • To get information about available accounts and typical spreads, traders should visit the account types and spread comparison pages.
  • Our YouTube channel offers a glimpse into an impressive library of educational and exciting videos covering trading essentials and financial insights and tips.
  • Most clients pay away the dealing spread on a transaction when they enter and exit a position.
  • Yeah, I assessed the company from the point of provided conditions, platforms and assets.

???????? We understand that traders need to feel confident in the safety and security of their funds, and we are committed to providing a reliable and trustworthy trading environment for our clients. 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. Thank you for taking the time to share your positive experience with IronFX.???? We appreciate your trust in us and we’re glad to hear that you find our services to be genuine. I think there is more than enough for everyone to find something that they would like to trade. You can choose from a great variety of trading platforms with low pricing and fast execution speeds. Social Trading– taking advantage of one of the newest trends in forex trading, IronFX offers clients social trading with some of the world’s leading and multi-award winning brokers.

What is a demo account?

Past performance is no indication or guarantee of future performance. ForexFraud.com is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

In order to start trading with IronFx, you have to deposit at least 100 USD. Traders can withdraw money via Visa, Mastercard, China Union Pay, Wire Transfer, BitWallet, FasaPay, Digital Assets, IronFX Card, and Perfect Money. CFD Leverage allows you to avoid paying the full value of the position.

Negative balance protection exists, ensuring traders never lose more than their deposit. Here is a screenshot of quotes at IronFX during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. IronFX has a commission-free STP/ECN account with minimum spreads of 0.3 pips or $3.00 per round lot. Currently, IronFX content is mostly focused on beginner traders. However, advanced traders may also find something interesting in the videos.

Are there any limitations with regards to scalping trading on this broker’s platform? is scalping allowed with this broker?

Their team includes market analysts, risk management experts, client business solution specialists and computer software developers. As such, IronFX users, depending on their location, will fall under a number of different account insurance and compensation schemes. In line with these requirements, client funds are kept fully separate from the company’s working capital, reducing the risk of misappropriation or misuse. The main advantages of choosing to trade withIronFXinclude exceptional client benefits and dedicated customer support. IronFX makes a wide variety of trusted deposit options and withdrawal methods available.

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. IronFX has built a reputation as a solid and reliable broker who strives to support and empower beginner and advanced traders to reach their goals, while creating an exceptional trading experience. Where many brokers only offer a few accounts, IronFX have a great range of different trading accounts to cater to the needs of many different styles of traders. There are accounts with floating spreads, fixed spreads, no commission and spreads starting from zero. They also offer corporate and institutional accounts, with a dedicated business account manager who can prepare a bespoke service package catered to your needs. IronFX offers access to trade a decent amount of around 300 trading instruments across multiple markets including Forex, Commodities, Futures, Stocks, Shares, Indices, Metals, Energies & CFDs.

The feeling told me it was what I was looking for, so I shouldn’t pass by. Recently started https://forexhero.info/ here and still have no intention to replace this broker with another one. My friend was the first person who told me about the broker and I’m very grateful for the tip because it helped me to find a trustworthy broker. I don’t doubt that my collaboration with it will be long-lasting and fruitful. We apologize for any inconvenience caused by the unauthorized creation of an account on IronFX using your email. To help us investigate this matter further, please provide us with your account details and any additional information that may help us identify the fraudulent account that was created using your email address.

Those fees tend to be higher than average among cryptocurrency exchanges. If you are interested in how we review, then read further to determine if the broker will satisfy your trading needs and whether it makes sense to open an account with them today. Thank you for sharing your review.???? We are happy to hear that your overall experience with us was a good one. To all Muslim traders, please stay away from this scam broker as far as you can.

In addition to EU regulation through the Cyprus Securities and Exchange Commission , they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. IronFX has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues. Yes, IronFXis authorized and regulated by theFinancial Sector Conduct Authority. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

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It may also contain a short video or some technical analysis. Traders also have access to three STP/ECN accounts.STP means “straight-through processing”, when orders’ are routed to liquidity providers. ECN means “electronic communication network”, when the network is used to match orders between buyers and sellers. A hybrid STP/ECN model is a combination of STP and ECN, which improves customer service. IronFX clients can deposit and withdraw money from their accounts via Visa, Mastercard, China Union Pay, Wire Transfer, Bitwallet, FasaPay, Digital Assets, Iron FX Card, Perfect Money, and PaySafe Card.

You can trade spot metals with no currency exposure, some of the most competitive spreads and industry leading trading conditions. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. 61.8% of retail investor accounts lose money when trading CFDs with this provider. Choose between Live and STP/ECN trading accounts, offering both floating and fixed spreads.

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They give you convenient access to a generous range of trading instruments across multiple markets. The advanced trading technology incorporated ensures that the trading conditions are some of the best available with competitive spreads (fixed/variable) and competitive trading costs. There are plenty of account types and payment options to suit all types of traders whilst each client is treated equally. Furthermore, the charitable work they do is very commendable and good for the community.

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