Iron FX

Iron FX

Summary


IronFX is the award-winning Global Leader in Online Trading. With 15 platforms trading over 200 instruments in forex, spot metals, stocks and futures, IronFX Global serves retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America. With over 60 offices worldwide, and more than 1,600 employees providing support in over 45 different languages, IronFX clients can benefit from round-the-clock coverage delivered by one of the world’s largest and most accomplished global client coverage teams. The IronFX customer-centric model combines bespoke trading functionality through its platforms with the widest suite of products to offer the best pricing, execution and liquidity. Daily market news feed and insightful research give clients access to the best information and data to make informed trading decisions. Evidencing the leadership of IronFX Global in the worldwide online trading arena, IronFX Global also has an official partnership agreement with FC Barcelona, one of the most successful professional football clubs in the world.

IronFX Global complies with international regulatory standards, and is authorized and regulated by FCA (UK), ASIC (Australia), FSB (South Africa), FSP (New Zealand), CRFIN (Russia), UCRFIN (Ukraine) and CySEC (Cyprus). The company is a member of the Eurex Exchange and is also an EU-regulated and MiFID-compliant firm.

Trading Platforms

There are five main types trading platforms that traders at IronFX can use.

IronFX WebTrader

Web based and developed in-house, the IronFX WebTrader requires no download or software installation. Access to IronFx range of financial services is via a web interface.

IronFX MetaTrader 4

For those traders who want a full suite of trading tools, IronFX also provide a MetaTrader 4 platform to accommodate their trading needs. IronFX Client MT4 Terminal, traders can have immediate access to market indicators, technical analysis tools and the use of Expert Advisors (EAs). The IronFx demo platform is also a MetaTrader 4 trading platform.

IronFX Personal Multi-Account Manager (PMAM)

The PMAM trading platform is for those traders who want to have the necessary tools to integrate trading under a master account.

IronFX MultiTerminal

The IronFX MultiTerminal is for those traders who want to manage several accounts under a single screen.

Mobile Traders for Cell Phones and Mobile Devices

IronFx also provide support for trading for the following devices listed below:

- Android Supported Phones
- Blackberry
- IPad
- Iphone
- PDA
- Smartphones

Types of Trading Accounts

Recognizing the different needs of different traders, IronFX provides a diverse range of trading accounts to suit their clients’ different needs.

Micro Accounts

For traders with less than $2500 deposit.

Premium Trading Accounts

Traders who deposit more than $2500 in trading funds. Benefits include lower spreads and access to dedicated account managers.

Business Trading Accounts

Business trading accounts are divided into:

- Corporate Account
- Institutional Account
- Trust Account

Cash Rebate Accounts

For traders who wants to earn cash rebates on their trading.

STP/ECN Accounts

The IronFX STP/ECN trading accounts give traders direct access to prices and trading conditions that are offered by the top tier liquidity providers.

Affiliate STP/ECN Accounts

This type of account is for those traders who were introduced by IronFx’s STP/ECN Account holders. Spreads on this type of account is wider by 1 pip than STP/ECN Accounts.

Affiliate Accounts

This is a custom-tailored account for traders introduced by IronFX’s clients. Features for Standard and Premium accounts are not applicable here.

Commission & Spreads

IronFx does not charge any commission but instead earn from spreads added to the quotes. The spreads applicable will depend on the type of trading account as well as the currency pair traded. IronFX has provided a full list for comparison on their website for those who are interested to find out more.

Reliability

Reliability of a broker can come in many forms. Apart from looking at how well the trading platform is performing, another aspect of reliability is determined by broker’s relationship with the payment processors. As for IronFx, they managed to tie up with several reputable payment processors in order that their clients are able to fund their accounts effortlessly. Withdrawal of profits are also made problem free when a broker has a solid working relationship with its payment processors. Currently, IronFx’s clients have the following options of funding and withdrawing their money:

Bank Wire
Credit Card/Debit Card
Moneybookers
Neteller
PayPal
WebMoney

Relationship with Top Tier Banks

IronFx only deal with the Blue chips banks like Barclays and UBS to ensure that their clients’ funds are kept secured.

Segregation of Clients’ Funds

To ensure the integrity of their clients’ funds, IronFX keeps its operational funds in a separate account to those of their clients. To ensure that these policies are followed, all banking activities of the company are audited by international auditors like Ernst & Young and KPMG.

Investor Compensation Fund Protection

By being a legitimate and regulated broker, IronFx is able to provide their clients with an Investor Compensation Fund scheme which is authorized and regulated by CySEC.

Automated Risk Management System

IronFx trading platforms also provide traders with an automated risk management system. This manner, traders are assured that their balance will never be negative.

Customer Support

IronFX’s clients can be rest assured that their well being is being looked after by a strong support team. Currently, there is support in the following major languages:
Arabic
Bulgarian
Chinese
English
French
Greek
Hungarian
Italian
Japanese
Korean
Polish
Portuguese
Romanian
Russian
Spanish
Tagalog
Vietnamese

Apart from multilingual support staffs, the website is also supported in the following languages:

Arabic
Bahasa Indonesia
Bulgarian
Chinese
Czech
English
Farsi
French
German
Greek
Hebrew
Hungarian
Italian
Japanese
Korean
Polish
Portuguese
Romanian
Russian
Spanish
Tagalog
Vietnamese

To get in touch with the support team, IronFX’s clients can use the following methods:

Callback
Email
Live chat
Office
Phone
Skype
Web form

Pros

Choice of different types of trading accounts to suit one’s needs.
Expert Advisors supported
Fast Execution of orders
High welcome bonus (40%)
Investors’ Compensation Fund Scheme
Large choices of instruments to trade with
Low reasonable spreads
Mobile trading supported
Multiple choices of trading platforms
Negative balance protection
Provide Dedicated Account Managers for Account holders
Regular FX Competition with attractive prizes
Regulated Broker
Use of unlimited Demo Account

Cons

The minimum deposit amount is quite high at $500 or the equivalent of other major currencies.

Conclusion

Overall, IronFx has potential to further expand their client base as they have managed to set new frontiers in demonstrating how online Forex brokers should operate. Registered with the proper regulatory authorities, IronFx have shown that they are willing to go the extra mile for the peace of mind of traders. This is an issue which most online brokers have not even bother to address.

4.6/5
  • Customer Service
  • Functionality
  • Legitimacy
  • Reliability
  • Execution