IronFX Review

A Forex broker that is in the top 5 biggest Forex brokers in the world. It once was part of FxPro, but they decided to go in a different direction.

  • Editor Rating

  • Rated 4.5 stars
  • Outstanding
IronFX
  • 4.86/5 Avg. User Rating

  • Rated 4.86 stars
  • 7 Reviews

  • IronFX
  • Reviewed by:
  • Published on:
  • Last modified: September 29, 2014
  • Execution
    Editor: 93%
    User: 87%
  • Reliability
    Editor: 94%
    User: 87%
  • Fees
    Editor: 89%
    User: 88%
  • Support
    Editor: 95%
    User: 88%

Review Summary:

All in all a very solid Forex broker that also offers many other products you can take advantage of.

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.

Trading Products

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.

Platforms

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.

Research

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.

ironfx head of global fx strategy

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.

Academy

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.

Visit their site

Create a Free demo acount with them here

Pros

  • Big, well known and regulated broker
  • Many currency pairs
  • Good support

Cons

  • CFDs not the very best prices, but very affordable

User Reviews

  1. drdollar

    • Execution
      88%
    • Reliability
      89%
    • Fees
      88%
    • Support
      89%
    • Rated 5 stars

    Great brokerage. Great people and trading technology. Only prices on CFDs could be a little better, but are still low enough for me if I want to make te occasional trade with them.

  2. joelato

    • Execution
      92%
    • Reliability
      92%
    • Fees
      88%
    • Support
      93%
    • Rated 5 stars

    Everything is great about them. Don’t know why anyone wants to trade with another broker, but it might be just me. Having had no problems over the last 10 months trading with them, I feel I should say something and recommend them. I hope you take my advice and use them as your broker. No problem getting all money out back into my regular bank account (when I was panicking). So, give them a try!

  3. n.drobyshevskiy

    • Execution
      94%
    • Reliability
      100%
    • Fees
      92%
    • Support
      94%
    • Rated 5 stars

    No way that you wont like this broker. Been trading with them for ages and all these other brokers have come and gone while ironfx has stood the test and has proven to be the best broker, for me.

  4. razaas4u

    • Execution
      88%
    • Reliability
      80%
    • Fees
      100%
    • Support
      87%
    • Rated 4 stars

    Although I have seen their aggressive marketing in certain forums and they get slammed for that on review sites, but I think that is all fine. I don’t care about their marketing tactics, I care about their fees and execution, which are both outstanding!!

  5. jb_kermel

    • Execution
      100%
    • Reliability
      100%
    • Fees
      100%
    • Support
      100%
    • Rated 5 stars

    A leader in online trading. Nothing is amazing than having a trustworthy online trading platform. It took me a long journey before landing on Iron Fx. I even lost substantial amount of money in other online trading platforms before I was introduced to Iron Fx about a year a go. I reluctantly joined them but so far I have no regrets. I have actually made good returns and recovered most of the money that I had lost in other platforms. At Iron Fx trader you get complete package for all trading needs. I cannot compare Iron Fx with other online trading platforms because Iron Fx is far much better. I rate the institution 5 stars and I recommend it to other traders looking for a reliable online trading platform. Registering an account with Iron Fx is very easy. New users also have an opportunity to open a demo account before opening an active account. Iron Fx customer support and relation is great. Here you are served well trained professionals with many years experience in trading industry.

    Iron Fx offers many options and all traders can choose what matches with their interest. Here you can trade on futures, spot metals, forex and other shares. I am interested on forex and spot metals and Iron Fx has really helped me. When it comes to opening of accounts, Iron Fx offers its clients several options. Here you can open trading accounts, account type comparison, account spread comparison and social trading. There are also several trading platforms and members are able to choose the platform that fit them. Here you can choose from pc, web, Mac, mobile social trader and auto trade. Personally I trade using mobile and pc platforms and the results are amazing. Once you register with Iron Fx you also enjoy various trading tools such as forex market hours, traders’ dashboard, pip calculator, margin calculator and currency converter among others.

    Trading with Iron Fx also comes with many advantages. Users of Iron Fx normally enjoy up to date market research and they are always aware of what is happening in the stock market. Personally I have enjoyed their market analysis, market information and global research on what is happening on other commodity markets all over the world. I also had the opportunity to learn from their academy through educational videos, forex encyclopedia, seminars and webinars among others. I have also participated in Iron Fx contests and promotions and won several rewards. Iron Fx also offers its members a partnership opportunity where brokers and other institutions can join and make good money.

  6. sleepingsiva

    • Execution
      50%
    • Reliability
      50%
    • Fees
      50%
    • Support
      50%
    • Rated 5 stars

    Just had a great support xperience with them and wanted to share that with the internet. To keep it short; I did not recieve my profit withdrawal on the expected date, I talked on the chat and they immediately fixed it. I had the money the next day. Thats all. Very happy overall with them.

  7. MUHAMMAD IRFAN

    • Execution
      100%
    • Reliability
      100%
    • Fees
      100%
    • Support
      100%
    • Rated 5 stars

    Hi my name is Irfan Gujjar.I’m freaking pissed off about Ironfx. I am a client of them and trying to withdraw from last 2 months. First they said that the payments department
    is overloaded, then they said that since I made a lot of profits then compliance has to approve my withdrawal.How the hell are they processing so long time?

    And IronFX boasts on their website that they have ASIC, Cysec, FCA, Eurex license and membership. It’s a big bullshit.
    Payment transaction are mentioned Below:

    1) 23098813 2014-12-23 WMP3D6J23GNH1I97 Withdrawal – MoneyBookers 975.03 USD Declined
    2) 23100175 2014-12-19 WM339E5649NGRT1C Withdrawal – MoneyBookers 89.00 USD Declined
    3) 23102132 2015-01-05 WM4OBMXKM8NHP77S Withdrawal – MoneyBookers 1,000.00 USD Declined

    This payment declined three times as you see:

    4) 23106299 2015-03-02 WMHEFFEC0GNKITR8 Withdrawal – MoneyBookers 1,470.00 USD Declined
    23106299 2015-01-29 WB9N8Y4SN6NK31ZK Withdrawal – Bank 1,470.68 USD Declined
    23106299 2015-01-26 WBIJMLJTMONISZ56 Withdrawal – Bank 1,470.68 USD Declined

    5) 23108970 2015-03-27 WM4SR4IX2BNLV5XK Withdrawal – MoneyBookers 500.00 USD Declined

    Can anybody here share their experience with withdrawing profits from IronFX. I would very much appreciate it. I’ve just been fool not withdrawing earlier from Iron.

    If you want to help me contact me on :

    GMAIL: irfan786gujjar@gmail.com
    FACEBOOK: irfan786gujjar@gmail.com
    TWITTER: GujjarIrfan786
    LINKEDIN: irfan786gujjar@gmail.com

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