Our Opinions On IronFX Is It Really Ethical And Reliable Finance

If you are interested in the field of trading and investments you have probably heard of IronFX, one of the biggest online trading brands. We will guide you since it is one of the areas which is facing rapid evolution and enormous growth, and many are interested in it and opinions are divided; several are for these new measures but many others are against. NAP tested it and here are our IronFX Reviews 

Know About Ironfx:

IronFX  is a company that launched in 2007 and it provides broker services by offering a variety of online trading tools. The platform has now expanded to more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), it is licensed as a registered investment firm in the UK, Australia and South Africa. In recent years, IronFX has closed its operations in China, Russia and Nigeria, in order to focus the development of its clientele on more traditional markets.

The broker’s account diversity is impressive, with a tiered structure that includes floating or fixed fee schedules, with or without commission. They complement their services with a variety of professional accounts, an introducing broker (IB) brand and a portfolio management program. They recently added cryptocurrency coverage to a wide selection of forex, spot and CFD trading products. Earlier in 2018, IronFX announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date was not announced. 

IronFX uses the MetaTrader 4 trading platform . It is aimed at beginners and intermediates and promises easy-to-use features and simple portfolio management. 

Traders can use the free MT4 download to install the platform on desktop devices, including Mac. You can also trade directly on MetaTrader’s WebTrader.

With Account Login Information, You Will Benefit From Direct Order Execution, With Instant Execution And Pending Orders.

MT4 promises advanced charts with nine time frames, over 30 built-in technical indicators, real-time information and automated trading capabilities. The MT4 platform can also be upgraded through MetaTrader’s Market and Signals, where users can purchase technical indicators, add-ons and signals for copy trading.

IronFX also offers a Personal Multi-Account Manager (PMAM) system, which allows traders to manage multiple MT4 accounts at the same time.

The only drawback noted in reviews of IronFX’s platform offering is the lack of a proprietary system. Often, bespoke software allows extensive customization, so some traders may be disappointed by the limited choice.


IronFX offers more than 200 tradable financial instruments including:

  • Forex
  • Indices
  • Actions
  • Metals
  • Futures
  • Raw materials
  • Cryptocurrencies

Rate Ranges And Commissions

Aside from the fixed zero count, spreads at IronFX start at 0.7 pips for major currency pairs, while the average is 1.2 pips. Of course, spreads widen during periods of volatility and low trading volume.

Spreads become more competitive as you move up the account structure, with the VIP account offering the best value. Overall, spreads and commission fees are competitive and similar across all IronFX products.

However, there are additional trading costs to consider. For example, IronFX charges a $50 inactivity fee for trading accounts that have been inactive for more than a year. Additionally, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.


IronFX offers flexible leverage of up to 1:1000. This allows traders with limited capital to take larger positions. A margin calculator is available on the website to determine how much leverage you can access. Note that trading with leverage not only amplifies potential returns, but also potential losses.

Mobile Apps

IronFX’s MetaTrader 4 trading platform is available via a mobile app for Android, iOS and Windows devices. The app can be downloaded from the respective app stores. Mobile users benefit from full transaction management without having to sacrifice functionality.

The mobile offering also includes the IronFX Research app, which gives users insight into financial markets and major news events.

Payment Methods

IronFX clients can choose from several deposit and withdrawal methods.


  • Bank Transfer – Maximum deposit varies between banks
  • Credit and debit cards – Maximum deposit of €50,000.
  • Skrill – Max Deposit 50,000
  • Neteller – Maximum deposit of €50,000
  • FasaPay – Maximum deposit of €5,000

Minimum deposits start at €100 with the Micro account and increase to €10,000 with the VIP account .


Withdrawal options are limited. Profits can only be withdrawn by bank transfer, with the exception of initial deposits, which can be paid to the original payment method used, for example a prepaid card.

The withdrawal process is simple. From the customer portal, go to the “payments” section, select “withdraw” and follow the instructions.

Withdrawal times vary depending on the banking provider, but range from the same day to seven days. For any withdrawal issues, contact customer support on one of the channels described below.

Also Read: Crypto.com Review Trustworthy Cryptocurrency Platform

Demo Accounts

IronFX offers demo accounts so traders can test the platform and practice strategies. Four demo accounts are available:

  • Demo Floating Spread
  • STP/ECN Zero Spread Demo
  • Absolute Zero STP/ECN Demo
  • Commission-Free STP/ECN Demo

Each demo account mimics real trading conditions, the only difference being that virtual money is used. IronFX also hosts demo competitions so potential users can see how they compare to other traders.

Bonuses and Promotions
Traders have several welcome bonuses to choose from when opening an account with IronFX:

  • 100% unlimited share bonus – minimum deposit €500
  • 40% Power Bonus up to €4,000 – minimum deposit €500.
  • 20% Iron bonus up to €2,000 – minimum deposit €100.

No deposit bonuses ranging from $35 to $100 have also been offered by IronFX in the past, so keep an eye out for new promotions. The online broker also hosts live trading competitions with cash prizes. Check the “Promotions” tab on the website for upcoming trading tournaments.

Note that bonuses cannot be drawn randomly. Offers also vary depending on the country where you sign up. Finally, check the minimum deposit bonus terms and conditions when you open an account, as they are subject to change.

Ironfx Regulations And Licensing

IronFX is licensed in several jurisdictions under the group’s trading name, Notesco Financial Services Limited (formerly IronFX Global Ltd). In the UK, the broker is regulated by the Financial Conduct Authority (FCA). IronFX operates in the EU under license from the Cyprus Securities and Exchange Commission (CySEC).

The broker also holds licenses from the Australian Securities and Investments Commission (ASIC) and the Financial Services Board (FSB) in South Africa.

The fact that IronFX is subject to several regulations results in greater legal protection for its clients.

For example, UK traders will benefit from default protection of up to £50,000 in the event of the broker’s bankruptcy, while European traders can receive up to €20,000 under a compensation scheme. similar financial. Additional protection includes provisions whereby client funds are segregated from IronFX capital.

Strict regulatory oversight also means that complaints about IronFX and possible scandals must be investigated, with wrongdoing potentially leading to fines or withdrawal of operating licenses.

Overall, oversight from several of the world’s leading regulators means traders can trust IronFX.

Additional Features

Customer reviews show that IronFX falls short when it comes to additional tools. There is a free IronFX Research app that contains market data, comments and videos.

Much of the content, however, is outdated and requires attention to compete with what other brokers offer. IronFX also offers e-books and instructional videos for less experienced traders, which are useful, but the portal does not offer the detailed information that experienced traders would like to see.

On a more positive note, MT4 is home to several useful market tools, including an economic calendar and an Expert Advisor (EA) builder. There are also some useful widgets, including a very simple profit calculator.

Ironfx:  Should You Trust?

IronFX is licensed in the European Union by CySec (Cyprus) no. 125/10, in the United Kingdom through FCA no. 585561 and in Australia through ASIC (AFSL no. 417482). UK traders receive broker default protection of up to GBP 50,000 through the Financial Services Compensation Scheme (FSCS), while EU traders receive protection of up to GBP 50,000. up to EUR 20,000 through the Cyprus Investor Compensation Fund (ICF). The company also offers top-up insurance for UK customers, increasing cover to GBP 1,000,000. 

Client funds are segregated from company funds, reducing the risk of abuse. It operates a counterparty trading desk, which raises conflict of interest concerns, but provides direct access to interbank trading for certain account types. They do not provide guaranteed stop-loss, but protection against negative balances is now mandatory under ESMA rules. Secondary security features are not impressive, with standard encryption on the website and no two-level authentication on the platform aside from Metatrader’s one-time passwords (OTPs).

Despite being one of the newest brokers in the market, it is known in the field of trading and its name is well known all over the world as it has expanded its reach to touch 180 countries. IronFX is known for its impressive account diversity, with a tiered structure that includes floating or fixed fee programs, with or without commission and this is one of the points that differentiates it from others. But despite all this, no one can deny that IronFx is considered by many to be a scam that steals money from these customers and that it should be avoided. 

These IronFx reviews will give you a much clearer idea of ​​the brand’s advantages and disadvantages and will help you to have a clear positioning in relation to it.


IronFX uses standard security features to keep customer personal information safe, including website encryption. The MT4 trading platform uses MetaTrader’s one-time password. Security could be enhanced by using two-factor authentication of the platform.

Our Opinions On Ironfx: Final Verdict

IronFX is a good broker for novices and intermediates. It offers a reliable MT4 trading platform, a range of products, and competitive spreads and leverage levels. The choice of account types also accommodates different trading styles and capital needs.

Countries Accepted

IronFX accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, from Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use IronFX from the United States, Cuba, Sudan, Syria, Korea, Canada.


Does Ironfx Offer Negative Balance Protection?
Yes – IronFX offers negative balance protection to all users. This allows traders not to lose more than their initial deposit.

Can I Cancel An Instant Order Request?
If the server has already received and processed the order, it may not be possible to cancel an instant order request. If this is the case, you will receive a pop-up warning you that your order cannot be canceled.

Can I Use Metatrader 5 At Ironfx?
The MetaTrader 5 trading platform is currently not available at IronFX. Clients have access to the MetaTrader 4 platform. See here for a MetaTrader 4 review.

Can I Use Expert Advisors At Ironfx?
Expert Advisors (EAs) are supported by the MetaTrader 4 platform, which makes automated trading possible.

Does Ironfx Offer Signup Bonuses?
Welcome bonuses are available at IronFX when you open a new account. However, they change over time and vary by country, so check the current offers available when you sign up.

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