Once part of FxPro, this Forex broker has been operating independently since 2010. And is in the top 5 of biggest Forex brokers in the world.
There are a lot of opinions floating around on the internet about this broker, so we spent some extra time investigating those mostly negative claims about this broker. And it turns out that most are based on physical appearance alone. Yes, they are owned by a Russian, yes they are based in Cyprus and yes they are aggressive with marketing their company. But these have nothing to do with the actual trading experience you get from them.
They are fully regulated. Are one of the biggest Forex brokers in the world. And their support seems top notch, from the interactions I have had with them.
Yes, most people lose money trading Forex. About 90% in fact. But this is only because of ignorance. They put on trades that are far too large, with a leverage that is far too great. Make trades that are too large for your account size is increased when receiving deposit bonuses. If you get a 50% bonus, and use a 1:100 leverage, the price only has to move 0,75% for a potential account wiping action. If you remember these things while trading, your chances of actually keeping your money in your account drastically improve. And my guess is, most people complaining about them have no clue or realization of what they are doing.
We did not detect any crazy spreads in their products.
With 85 currency pairs available with their Forex trading; AUD/CAD, AUD/CHF, AUD/JPY, AUD/DKK, AUD/HUF, AUD/NZD, AUD/PLN, AUD/SGD, AUD/USD, CAD/CHF, CAD/JPY, CAD/NOK, CAD/SEK, CHF/JPY, CHF/HUF, CHF/NOK, CHF/PLN, CHF/SGD, EUR/AUD, EUR/CAD, EUR/CHF, EUR/CNH, EUR/CZK, EUR/DKK, EUR/GBP, EUR/HKD, EUR/HUF, EUR/JPY, EUR/MXN, EUR/NOK, EUR/NZD, EUR/PLN, EUR/RUB, EUR/SEK, EUR/SGD, EUR/TRY, EUR/USD, EUR/ZAR, GBP/AUD, GBP/CAD, GBP/CHF, GBP/DKK, GBP/JPY, GBP/HUF, GBP/NOK, GBP/NZD, GBP/PLN, GBP/SEK, GBP/SGD, GBP/TRY, GBP/USD, GBP/ZAR, HKD/JPY, NZD/CAD, NZD/CHF, NZD/HUF, NZD/JPY, NZD/SGD, NZD/USD, NOK/JPY, NOK/SEK, PLN/JPY, SEK/JPY, SGD/JPY, TRY/JPY, USD/CAD, USD/CHF, USD/CNH, USD/CZK, USD/DKK, USD/HKD, USD/HRK, USD/HUF, USD/JPY, USD/LTL, USD/MXN, USD/NOK, USD/PLN, USD/CAD, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR and ZAR/JPY. They offer one of the widest ranges for currency trading. And makes sure there is something tradable for anyone.
Their Spot Metals offering is a collection of CFDs on Spot Metals. They offer them in USD and EUR. And these can be used to diversify your portfolio, hedging opportunities and more safe investments. The ones available are:
- XAGEUR, is Spot Silver in EUR
- XAGUSD, is Spot Silver in USD
- XAUEUR, is Spot Gold in EUR
- XAUUSD, is Spot Gold in USD
- XPTUSD, is Spot Platinun in USD
- XPDUSD, is Spot Palladium in USD
The Futures the have available are CFDs on futures contracts. Listing equity index futures, energy futures, commodities futures, base metal futures and currency futures. They again offer a wide variety of vehicles to trade with and something for everyone.
Listing Shares for mainly big brands and well known companies from the US and UK. These CFDs on stocks are interesting if you want to try investing in stocks. And with fixed spreads and a reasonably low commission, these are a nice offering.
Keep in mind though, that they are primary a Forex broker that has low prices for currencies and CFDs are something to keep prices in check.
Giving you options to trade with PC, Mac, iOS phones and tablets and Android phones and tablets. You can trade anywhere, no matter what kind of computer, phone or tablet you have.
Offering MetaTrade, the worlds most popular trading system, to PC and Mac users. The PMAM and Multitrader systems purely dedicated to windows users. Webtrader for users that prefer using the internet to trade. Blackberry Trader for Blackberry users. Smartphone Trader for Windows Phone users. And MetaTrader for iOS and Android phones and tablets.
A huge variety. Something for everyone.
This includes Market Analysis and an Intraday Comment every trading day. And you can tell these are written by knowledgeable people. With backgrounds in banks and experienced in technical analysis.
Market Information is offered through an Economic Calendar, which looks great and is easy to interpret. And Live Currency Rates that list a few of their currencies, silver and gold in a simple chart that for the rest displays nothing special. So, nothing of the ordinary here.
Global Research comes in the form of videos. A Daily Video by the head of the Global Forex Strategy Team. A closing comment on the world economies, Forex calendar and economic announcements. This is all consolidated on IronFX TV. Also published is a list of videos of appearances on financial television programs, where you get a confirmation their houghts an ideas about the financial market are of very high quality.
Where Forex traders go to learn. Webinars, Seminars, Expos and an encyclopedia. Although there are missing some videos and ebooks. This whole collection of educational material looks good for beginning traders.
So if you are a more experienced trader you won’t really get anything from this.
Contests and Promotions
They are very active in the contests and promotions area. Both competitions for Live and Demo accounts. And welcome bonuses, cash rebate bonuses VIP account bonuses, refer a friend bonuses, etc. If you enjoy trading competitions you are going to be happy with them, even if you only want to trade with a demo account.
All in all a very solid Forex broker that also offers many other products you can take advantage of.
More related AlphaJudge reviews:
- Big, well known and regulated broker
- Many currency pairs
- Good support
- CFDs not the very best prices, but very affordable