IronFx
Pros
- HUGE 1:500 LEVERAGE
- SMALL MINIMUM DEPOSIT
- HUGE RANGE OF PAIRS
- METATRADER4
Cons
- AWFUL INDUSTRY REPUTATION
- RATED AS A SCAM ON FOREXPEACEARMY
- EXPENSIVE CONDITIONS
- ONE PLATFORM ONLY
- DEALING DESK BROKER
Are you thinking of trading with Iron Fx? With thousands of forex brokers all competing with each other, it’s really hard to know which broker is a good fit for you as a trader. In this article, we are breaking down all of the important information about Iron Fx, a broker that has been in a lot of controversy over the last 5 years and since its inception in 2010. Are they a trustworthy broker? Let’s find out…
IronFX Company Information
| Year Founded | 2010 |
| Headquartered | Cyprus |
| Regulation | FCA, CySec, ASIC, FSCA |
| Office Locations | United Kingdom, Australia, Spain, Cyprus, South Africa |
IronFx Account Information
| Minimum Deposit | $100 |
| Account Currencies | USD, EUR, GBP, CHF, JPY, AUD, HUF |
| Islamic Accounts | Yes |
| USA Traders | Not Allowed |
| Mobile Trading | Yes |
| Web Trading App | Yes |
| Deposit Methods | Wire Transfer, Skrill, Credit/Debit Cards, Neteller, UnionPay, WebMoney, FasaPay |
| Withdrawal Methods | Wire Transfer, Skrill, Credit/Debit Cards, Neteller, UnionPay, WebMoney, FasaPay |
| PAMM Accounts | Yes |
| ECN Accounts | Yes |
| Commission | $13.5 Per Round Turn On Standard Account |
| Micro Accounts | Yes |
| Professional Accounts | $20,000 Minimum Deposits |
IronFX Trading Information
| Maximum Leverage | 1:500 |
| Minimum Lot Size | 0.01 |
| STP Or Dealing Desk | Dealing Desk |
| Scalping Allowed | Yes |
| Hedging Allowed | Yes |
| Execution | Instant & Market |
| Negative Balance Protection | Yes |
Industry Reviews Of IronFx
| General Consensus | Not Trustworthy |
ForexPeaceArmy Score | SCAM |
| TrustPilot Score | 3.1/5 |
Platform Details
| Trading Platforms | MetaTrader4 |
| Crypto Trading | Yes |
| VPS For Traders | Yes |
| Demo Account | Yes |
| Instant One Click Trading | Yes |
| Number Of Pairs Offered | 85 |
In short, IronFx are NOT a trustworthy forex broker and you should stay away. If we overlook the fact that the platform options are limited, the trading costs are too high and can’t even compete with the top brokers in the industry, the reputation (or lack of) that Iron Fx have is enough to stay away. The company is known on various forums for having multiple problems with regulators after numerous violations and unethical practises, all of which can be seen here.
If you are signing up with IronFx please do so at your own risk and use due diligence. There are plenty of brokers offering much better conditions, with flawless reputations – just have a look at IC Markets or Blueberry Markets for example.
