If you’re thinking about trading Forex or Cryptocurrencies, you may have come across IronFX. But before you start opening an account with a broker, it’s always great to do some research. This review will highlight IronFX’s features, reputation, regulations, and more, separating the hype from reality. So, without further ado, let’s dive in!
IronFX is a multi-regulated broker. It holds licenses from the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). It has also won numerous awards, including “Best Forex Broker,” “Best Trading Platform,” and “Best Customer Service” among others. But, despite the accolades, it’s worth noting the several regulator sanctions and warnings it has received over the years.
IronFX claims that it offers a vast array of tradable assets, including Forex, Indices, Commodities, Metals, Futures, Stocks, and Cryptocurrencies. However, not all tradable assets are available across all of its trading account types, which can be a little confusing for its users. Nonetheless, the broker provides a variety of account options based on the trader’s needs and expertise, such as Micro, Premium, VIP, STP/ECN Accounts, and others.
IronFX has four trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, and the upcoming STP/ECN trading platform. The MT4 platform is the most popular among traders, and it comes with a wide variety of technical indicators, expert advisors (EAs), and trading robots.
The broker also states that it offers “tight spreads from 0.0 pips” and “fast execution speeds”, which seems impressive. However, it’s crucial to do your own research and monitor the actual spreads and execution speeds when it comes to trading with this broker. Moreover, IronFX charges inactivity fees and other hidden charges, which can affect traders’ profitability if not taken into account.
In short:
Ironfx review provides traders with an impressive range of tradable assets and platform options. It’s also multi-regulated, which may provide a sense of security for some traders. Nonetheless, the broker has received regulator sanctions and warnings in the past, which may raise some red flags. Its pricing structure may not be the most transparent compared to other brokers, as it charges hidden fees like inactivity fees and withdrawals fees. Furthermore, some of its advertised features like tight spreads and fast execution speeds may not always be as advertised. Therefore, it’s essential to do your research and approach any Broker with caution before making a final decision.