Surely you have already heard of IronFX. On the trading market, the broker is essential. Sometimes we hear bad, sometimes good. Today, we shed light on this broker by telling you everything you need to know about it. History, registration, fees and our opinion about IronFX.
IronFX is simply one of the most reputable brokers in the world of online finance and trading. The platform is also one of the oldest since it was created in 2010.
The broker specializes in financial assets like foreign currencies and corporate stocks. Later, cryptocurrencies integrated their offer of financial products on which traders can speculate.
Here is IronFX in some key figures to understand who the broker is :
1,500,000 registered investors
Present in 180 countries
24/5 customer support in 30 different languages
Considering these impressive figures, there is no doubt that IronFX is among the big name brokers in the CFD (contract for difference) market.
In addition to the various contracts on financial assets offered by the broker, it has developed a real offer around trading.
IronFX recently added a “School” to its site, which includes webinars, conferences, podcasts and other materials for learning trading.
IronFX also regularly shares news in the world of trading to keep its investors informed. The broker devotes an entire part of its site to it.
There is no doubt that IronFX has a leading position in the finance market and wants to create an ecosystem to cover most aspects of trading and financial speculation.
What services does IronFX offer ?
First, IronFX offers a comprehensive and very well-stocked website that features a dynamic and intuitive interface. The site thus contains the “IronFX school” which constitutes an important part of their service offer.
The IronFX school is made up of :
A VIP trading room : a VIP space which can be accessed with a minimum deposit of $250 and where you can find trading advice and personalized support
Educational seminars and webinars about trading
Free trading training for beginners and experts
IronFX also organizes trading competitions, like poker championships. Participants must deposit a certain amount and trade to try to be among the best and win substantial prizes.
The main offer of IronFX is of course that of financial assets accessible via the broker. You will find all the main markets on which to trade.
Here are the markets offered by IronFX :
FOREX (FOReign EXchange – the foreign exchange market)
Rare metals (gold, silver, …)
Indexes (EU50, US30, FRA40, …)
Commodities (oil, coffee, …)
Stocks (Airbnb, American Express, Google, Moderna, …)
IronFX therefore offers access to all financial markets in the trading world. The broker offers cryptos but this is clearly not their main focus. They are not so easily accessible from their site and the spreads offered are clearly higher than the competitors.
To trade cryptocurrencies, it will be better to turn to another broker. To trade other assets, IronFX will be a very good broker to choose.
Leverage on IronFX
As a broker, IronFX offers leverage on trades. In trading, leverage effects accentuate the price movements of an asset.
It is common for the movement of an asset to be quite stable over a day and traders who trade in the short term need leverage for their trade to be meaningful.
IronFX offers a maximum leverage of 1:1000 which is more than the average usually set at 1:500.
Warning : if the leverage can be seen and sold as an advantage, it also considerably increases the risk that the trader takes on a trade. We generally recommend not to exceed a leverage of 1:200.
Choosing the trading platform
When you create a trading account on IronFX, you have the choice of which trading platform you want to use to place your trades.
Indeed, it is necessary to differentiate broker and trading platform. Your broker sells you CFD contracts on financial assets but has not necessarily developed a platform to analyze prices, insert indicators, etc.
You must therefore generally link your account with your broker to a trading platform which will be your direct link with the markets.
The best known platform is MetaTrader, 4 or 5. You have certainly already seen MT4 or MT5 during your trading research.
In the case of IronFX, the platform they advocate is clearly MT4. You can use MT4 on desktop or via the mobile app.
It is also possible to use the IronFX WebTrader which is a version of MT4 adapted to the web and available without downloading.
You must then fill in some basic information about yourself. At this stage, you must also set up your trading account. For the account type, choose “Live floating spread”. Select the “Iron bonus 20%” and leverage 1:200
Your account is already created!
La vérification de votre compte
When your account is created, you will immediately receive an email with login details for MT4. Go to MT4 to connect your account directly.
To be able to start trading, you still need to :
Verify your identity : all you need to do is send an identity document to prove your identity and a document (invoice type) to prove your legal address
Make your deposit ($300 minimum)
The verification procedure usually takes between 12h to 24h.
What are the fees applied ?
IronFX registration is 100% free and there are no fees associated with creating the account. Generally, brokers are remunerated through spreads and swaps.
The spread is the difference in price between buying and selling an asset, often used as compensation by brokers. The swap is a fee linked to trades of more than 1 day or to trades that remained open between the closing of the markets on Friday and the opening on Monday. The broker does not practice swaps.
Most of IronFX’s fees are related to the spreads applied on financial assets. Here is an example of IronFX spreads :
The spreads are rather in the low average of what is done with other brokers on the market. As we said above, IronFX is not the preferred platform for crypto trading. The spreads are quite large.
How do I make an IronFX withdrawal ?
It is possible to withdraw your profits and your capital at any time on IronFX, and this is very easy. Just go to your IronFX account, check the menu you see on the left side of the screen. You then select “Transactions” then “Withdrawal” and you arrive on the IronFX withdrawal page.
You have to choose your IronFX withdrawal method that you want to use. Many methods are possible :
Digital assets (cryptos)
Click on the method you want. You are redirected to the withdrawal page. You must then enter the various data related to the withdrawal method you have chosen.
When everything is completed, click “Submit” to initiate payment. Depending on the type of payment you have chosen, the payment can take between 24 hours and 5 working days to arrive.
IronFX review: is the broker a scam ?
IronFX is one of the pioneers of online trading. With more than 10 years of existence, this broker has proven its solidity and legitimacy in the online financial arena. Since its inception, it has managed to convince tens of thousands of investors to use their services.
The offer of IronFX is complete and the breadth of its field of activity extends to the training of apprentice traders. The broker is thus shown to be involved in his own cause and his field of activity.
The problem with trading brokers is that they often get a bad reputation because of those promoting them. As you know, trading is an activity coveted by influencers.
The bad reputation of brokers is often due to investors losing their money or following advice that did not bear fruit. The losing investor often blames the broker for his losses.
However, as a broker, IronFX offers a comprehensive, user-oriented solution with attractive spreads and responsive customer service.
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and shall not be held liable, directly or indirectly, for any damage or loss caused as a result of using any goods or services highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Web editor for many years and SEO specialist, Thomas became an editor for InvestX when the site was launched. Passionate about the field of crypto and Web3, Thomas has made it his mission to deliver maximum value and introduce readers to the world of blockchains, considered for him as the world of tomorrow.
Risk Warning: Trading financial instruments and/or crypto-currencies involves high risks, including the risk of losing all or part of your investment, and may not be suitable for all investors. Crypto-currency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. Trading on margin increases financial risk.
Before deciding to trade in financial instruments or crypto-currencies, you should be fully informed of the risks and fees associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and tolerance for risk, and seek professional advice if necessary.