IronFX Review [2021]: A Versatile Platform For CFD & Forex Traders

August 1, 2020
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IronFX was launched in 2010 in Cyprus. The broker offers 83 forex pairs and CFDs on stocks, indices and commodities. IronFX has a really good and competitive fee structure compared to some of the brokers in the market. Moreover, the broker has some good features like dedicated account managers for different types of accounts to provide robust customer service. IronFX is also regulated by some of the world’s top regulators like the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) lending the platform good credibility. If you are a forex or CFD trader you should join IronFX today for some great trading options at competitive rates.

If you are looking for trading with a comprehensive broker that offers a wide array of assets such as ETFs, stocks, crypto, bonds and forex, consider With the most competitive rates in the industry, is one of the most holistic trading platforms especially with its clean and intuitive interface and state of the art analytical tools.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with IronFX and scored our findings on a 10-point scale across 10 distinct categories.
Fees 8
Signup Process 5
Minimum Deposit 10
Ease of Use 6
Deposit & Withdrawal Options 10
Customer Support 10
Asset Classes 3
Referral Program 0
Demo Account & Educational Resources 7
Safety & Regulation 10
Total 69

Introduction To IronFX

IronFX was launched in 2010 in Cyprus. The broker is regulated by UK’s FCA and Cyprus’s CySEC, among other regulators and is available in more than 180 countries. IronFX also offers forex and a variety of CFDs that you can trade in. Moreover,  it also offers dedicated account managers to help you trade. The application has some great account types for different types of users and a competitive fee structure that can make trading both, profitable and enjoyable. IronFX has operations in several nations but it has a strong presence in Europe, UK & Australia. You can use IronFX if you live in any of the following countries.

 Albania Algeria Andorra Angola Anguilla
 Bahrain Bangladesh Barbados Belarus Belize
 Brazil Brunei Darussalam Bulgaria Burkina FasoCongo
 Cook Islands Costa Rica Cuba Curaçao Cameroon
 Cape Verde Cayman Islands Central Africa ChadChile
 China Christmas Island Cocos Islands Colombia Denmark
 Djibouti Dominica Dominican RepublicEstonia Eritrea
 Ecuador Egypt El Salvador Equatorial Guinea French Polynesia
 Faroe Islands Fiji France French Guiana Gibraltar
 Gambia Georgia Germany Ghana Guinea-Bissau
 Hong KongHonduras GuyanaHungary Italy
 Indonesia Iraq Ireland Isle of Man Mayotte Island
 Jersey Jordan Mauritania Mauritius Micronesia
 Kenya Kiribati Kuwait Kyrgyzstan Monaco
 Lebanon Lesotho Liberia Libya Maldives
 Macedonia Madagascar Malawi Malaysia New Caledonia
 Nauru Nepal Netherlands Netherlands Peru
 Palau Panama Papua New Guinea Paraguay Sint Maarten
 Romania Rwanda Sierra Leone Singapore San Marino
 Saint Barthélemy Saint Kitts and Nevis Saint Lucia Samoa Tokelau
 Tajikistan Tanzania Thailand Togo Uzbekistan
 Ukraine United Arab Emirates United Kingdom Uruguay Philippines
 Vatican Venezuela Vietnam Virgin Islands UK Aruba
 Antarctica Antigua and Barbuda Argentina Armenia Bosnia and Herzegowina
 Benin Bermuda Bhutan Bolivia Turks and Caicos Islands
 Zimbabwe Serbia Seychelles Turkmenistan Norfolk Island
 Nicaragua Niger Nigeria Niue Sint Maarten
 Serbia Seychelles Sierra Leone Singapore Guatemala
 South Africa Poland Portugal Puerto Rico Austria
 Greenland Grenada South Africa Guam Botswana
 Greece Pitcairn Azerbaijan Saudi Arabia Tuvalu
 Martinique Solomon Islands Bouvet Island Tonga Islands Norway
 Ivory Coast Senegal Guernsey Tunisia Slovenia
 Mexico Trinidad and Tobago Guinea Somalia Guadeloupe
 Moldova Turkey Solomon Islands Mali Mongolia
 New Zealand Somalia   

IronFX almost covers most continents, however, If you are someone in Africa or Asia and are looking for a good broker, do also check out IQ Option and easyMarkets as well, as these brokers cover a lot of African and Asian nations and offer some decent value for traders across regions. We also recommend you to have a look at CMC Markets as it is also one of the strongest brokers in our database and covers a lot of African and Asian nations. Many of our brokers in Southern African and far east countries like South Africa, Zimbabwe and Indonesia have tried these brokers and given us positive feedback.

Word of Caution

Dealing with CFD’s is very risky because you are trying to predict the price of an underlying asset. Usually, 70% of consumers lose money when they invest in CFDs with different brokers. Hence, you should try and only invest in CFDs when you have good knowledge of how CFD’s work. Now let’s have a quick look at some pros and cons of using this broker.

Pros & Cons

Let’s revisit some of the pros and cons to see if IronFX is right for you

Dedicated Customer SupportOutdated interface
Competitive trading ratesTrading fees for CFDs
No Membership feeSlightly expensive forex spread on particular accounts
No Inactivity fee –
No Deposit Fee –
No Withdrawal fee –

Account Types

There are 4 main types of accounts offered by IronFx, namely:

  • Standard Account
  • Premium Account
  • VIP Account
  • Zero Fixed Account

Each of these account types has different minimum deposit requirements and spreads that are analyzed in the minimum deposit and fee sections respectively. 

Standard Account

This is the basic account that is ideal for individual investors who are looking to get started with trading or who trade occasionally. If you’re a noob in trading, this would be the account to choose.


The premium account offers lower spreads than the standard account and can help you in trading profitably if you are a regular trader.


The VIP Account has narrower spreads than the premium account and it is perfect for individuals dealing in large trades.

Zero Fixed

This is the perfect account for large forex traders as it virtually has no spreads. The Zero Account provides great value for customers looking to deal in large numbers because they are only charged a nominal fixed trading fee for their transactions which helps them limit their costs and maximize their profits.

Islamic Accounts

If you are a Muslim who does not want to trade in interest, do not worry the IronFX has you covered with the Islamic Account. The Islamic account does not allow swaps hence, it does not charge interest because swaps are often associated with interest. However, generally, Islamic Accounts tend to have higher spreads because they do not charge interest.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Fees

There are 2 general categories for fees namely trading and non-trading fees. Trading fees are associated with activities linked to your trades such as commissions & spreads. However, non-trading fees as the name suggest are related to activities not directly linked to trading such as membership fees, inactivity fees, deposit fees and withdrawal fees.

Account fees are one of the essential features that make a broker good or bad since high fees can really eat into your profits. IronFX offers some great value in this regard to users. Some of the main features of IronFX in terms of fees are:

  • No Membership fee
  • No Inactivity fees
  • No Deposit Fees
  • No Withdrawal fees

This offers some great value to users in the sense that they do not have to pay any fee to remain a member of the broker, even if they stop using it for a while. Similarly, no deposit and withdrawal fees are a great bonus because many brokers charge these fees on small amounts making it very expensive to trade in small amounts. By eliminating the type of fees associated with your everyday usage of the platform, IronFX offers some great value.

Trading Spreads

As you can see in the table below, the spreads vary from different account types. The Zero Fixed account literally has no spreads making it apt for large investors. The spread rates for the other account types are slightly expensive because brokers such as HotForex have spreads starting from 1 pip.

Account TypeSpread
Zero Fixed0

CFD Trading  Fees

The CFD fee structure for IronFX is also competitive compared to many other brokers that charge trading fees and it offers some great diversity and value for users. Let’s compare the CFD fee structure of IronFX to other similar brokers:





S&P 500 index CFD fee




Europe 50 index CFD fee




Apple CFD fee




You can see that IronFX’s trading fees for CFDs are competitive compared with other brokers like XM and FXTM on the same assets. IronFX charges the lowest fees on the S&P 500 index CFDs and on Europe50 index CFDs, but falls short on some individual stocks like Apple. However, there are brokers like that do not charge any trading fees at all, which can make trading more profitable.

Commissions On Zero Fixed Trading Account

Since the Zero Fixed account has no spreads, it charges nominal commissions for trading in different currencies. If you are a professional trader that trades in large amounts, then these fees will be quite small and help you in maximizing your profits. The table below illustrates the trading commission per lot.

Fee Per LotCurrency

To put it in context if you trade 10 million EUR/USD with a Zero Account you would have a rate of 0.18 pips if you were to convert the commission fees into a spread. However, if you were trading a $100,000 EUR/USD the conversion of fees to spread would be 18 pips which is equivalent to what you would pay in spreads on a standard account. The score for fees is 8/10 because of the diverse structure of fees and the options available to users to select different fee structures depending on their preferences.

Detailed Forex Spreads

The forex spreads for most accounts are similar apart from the zero account. mentioned below are the account spreads for most account types apart from the Zero Account.


The list above shows a good mix of major and minor pairs. One evident insight from the list above is that the minor pairs are too expensive compared to other brokers. For instance, AUD/HUF in itself is too expensive at 200 pips. The broker is also expensive for major pairs like AUD/USD which is slightly more expensive than other brokers as most major pairs often can cost around 1-2 pips.

Stock CFD Spreads

Let’s look at what is in store for the stock CFD spreads for the broker.

Stock CFDMinimum Spreads
Alcoa, Inc.0.03
American International Group, Inc.0.03
American Express0.03
Alibaba Group Inc.0.07
Bank of America0.03
Citigroup, Inc.0.03
Caterpillar, Inc.0.03
Cisco Systems, Inc.0.07
Chevron Corporation0.03
Walt Disney0.03
General Electric0.03

The spreads are really low and offer amazing value for most users. For instance, you can trade stocks of giants like GE, Cisco and Slack for low values. HOwever, do not that the rates mentioned are minimum spreads and they are susceptible to change and can change with changing market conditions and dynamics. However, the low minimum values for most stocks always provide with an opportunity to trade at low rates especially when the rates are down.

Stock CFD Commissions

The disadvantage of trading stock CFD’s with IronFX is that the broker also charges a commission for the trades on top of the spreads. The spreads charged are 0.1% for most stocks which is mainly maanageable for most traders and not very expensive.

How We Rank Safety & Regulation

If a broker is regulated by a tier 1 broker like the Financial Conduct Authority of UK (FCA), Securities Exchange Commission (SEC), or Australia Securities & Exchange Commission (ASIC) it scores a perfect score. However, if it is regulated from a tier-2 broker like the Cyprus Securities & Exchange it scores an 8. The score for most tier 3 brokers is a 6 and the score for no regulation is 0. Regulation is an important factor for brokers as non-regulated entities can engage in harmful practices for investors that can be detrimental for them.

Final Verdict On IronFX Fees

The fees for the broker offer really good value with non-trading fees. By offering no non-trading fees the broker does a good job of helping customers avoiding annoying non usage related fees like inactivity, deposit and withdrawal fees. The spreads associated with the broker are expesnive compared to other brokers hence, the final score is an 8 rather than a perfect 10.

IronFX Fees Score: 8/10

#2 Signup Process

The sign-up procedure for IronFx is pretty simple and self-explanatory. You can easily apply for your account online. The procedure to signup is as follows:

Step 1: Choose your Account

The first thing to do is to çcChoose the type of account you want to open. As we mentioned previously, the options are to open a Standard, Premium, VIP or Zero Fixed Account.

Step 2: Add Personal Information

This includes details such as your name, email address and nationality or country of residence.

Step 3: Add Proof Of Identification

Upload documents such as Passport or Driver’s License to help verify your identity.

Step 4: Proofread and Submit

Proofread everything that you have uploaded on the portal before submitting it. After that, submit all the information and documentation and you’re almost set. You will have to wait to be verified before being able to proceed.

Step 5: Add Funds To Your Account

Once your ID has been verified and your account activated, you can add funds to your account and officially begin trading!

As you can probably decipher that the signup procedure is not that long. However, the broker loses a few points for its average verification process which is around 3 days.

How We Rank The Signup Procedue

We ranked the signup procedure based on how quick and easy it is to open an account and we base our score on the following criteria:

  • The speed with which the documents can be uploaded
  • Number of documents required
  • The time the verification process takes

The easier an account opening process is without unnecessary checks the higher the score is for this dimension.

Final Verdict Signup Process

The procedure above will help you in quickly getting signed up, however, the verification of your account tends to take up to 3 business days, which makes this broker lose a lot of points in this regard, especially considering that there are other brokers who verify your ID and activate your account in under 20 minutes.

IronFX Signup Process Score: 5/10

#3 Minimum Initial Deposit At IronFX

There are various tiers for minimum initial deposits depending on the account type that you choose. Let’s revisit some of the account types and minimum initial deposits, so that you can ascertain which accounts maybe feaasible for you.

Account Type Minimum Deposit Initial Deposit
Premium$100  USD
VIP$10,000 USD
Zero Fixed Account$500  USD

The initial deposit for opening an IronFX Standard account is $0. The Standard Account is a really good option for anyone to get started with trading forex, stocks and commodities. You can instantaneously open an account and get started with a deposit as small as you want. This really helps consumers looking for a platform to quickly get started with trading.  

You can also opt for other accounts depending on the volume of trading you do (or plan to do) and the spread rates that you want to avail. For instance, if you are a professional trader you could get a Zero Account to trade with 0 pips. The minimum deposit for Premium Accounts is still very reasonable and accessible to most traders, even beginners, and it’s actually a lot lower than what other brokers require for their basic accounts. Finally, while the VIP and Zero Fixed Accounts minimum deposits may seem like a lot, they’re actually very reasonable as well, keeping in mind that these account types do target individuals who are regular traders and handle large volumes anyway.

How We Rank Minimum Initial Deposit

The formula here is simple, the lower the minimum initial deposit the higher the score. We at Yore Oyster believe that everyone should be able to try out a broker without having to deposit thousands of dollars to get the opportunity to do so.

The Scoring Threshold For Minimum Initial Deposit

If a broker has a requirement for upto $100, the score here is a perfect 10, as most people can afford to invest. However, if a broker charges upto $500, it still scores a healthy 8 because most of our readers believe they can invest $500 to try out a broker’s services. However, as the minimum initial deposit requirements rise above $500 most of our readers feel a bit hesitant to try out a broker due to which the score decreases.

Final Verdict

Because of the fact that you can literally start trading without a minimum deposit and the reasonable minimum deposits for the other accounts, the broker scores a perfect 10 in this category.

IronFX Minimum Initial Deposit Score: 10/10

#4 IronFX Ease of Use

As most modern brokers, IronFX offers three different trading platforms, namely, a web-based platform, a stand-alone desktop version and a mobile app. The broker does not have its own platform and uses the Meta Trader 4 platform for providing its services to users.

Meta Trader 4 Platform

One of the most commonly used trading platforms, Meta Trader 4 is used by hundreds of brokers around the world. The interface of Meta Trader 4 is not very user-friendly in terms of graphics as it has outdated graphics that need to be revamped. However, in terms of having comprehensive charting tools and statistical tools, Meta Trader completely fits the bill. It is the reason perhaps that the platform is home to hundreds of brokers because it covers all the basics and provides you with a solid foundation in trading. As a platform, we think it’s an ideal platform for individuals who are pro traders and have been trading for some time, though it can be a little complicated and daunting for beginners.

MT4 Web & Desktop Trading Platform

The Meta Trader 4 platform provided has a lot of detail in terms of statistical metrics that users can use. A drawback is that the graphics of the applications are a bit outdated and something that the platform can and perhaps should improve upon. The Meta Trader 4 platform can be a bit daunting for beginners to get started with but be a bit easier for professional traders. Professional traders may be used to it because of its pervasiveness in the market and the fact that they may have used it in the past.

MT4 Mobile Trading Platform

Offers a lot of options in terms of customizability. For instance, you can choose your own metrics to evaluate your assets, design your own dashboards. Moreover, you can also set up alerts for prices and different market movements on your mobile.

MT4 Platform Languages

The Meta Trader 4 platform is a global platform that supports hundreds of online brokers. A good feature of the platform is that it has a lot of languages that cover most of the people in the world. The Meta Trader 4 platform is available in:

CroatianHungarianRomanianTraditional Chinese

As you can see, the platform covers many of the commonly spoken languages around the world. This offers some really good value for users across the world who want to trade in their own language.

Charting Tools

The charting tools offer decent value in terms of giving a trend of past price fluctuations and the variances associated with an asset. However, the interface for charting does seem like something out of a 1990’s Sega Game and Meta Trader could do much to improve it as it is one of the most widely used trading platforms in the world. They could do a better job of improving and enhancing the user experience and useability of the platform.


Web Trading Platform

The interface is quite detailed and gives you a complete trend and metrics on your asset. However, the interface seems a bit outdated and the graphs seem something out of Excel 2003. There are plenty of other features like news feed, charting tools and search tools.

IronFX’s Search Functions

Search functions with IronFX aren’t all that great and feel outdated. They also remind us of something from the early 2000’s. You can see in the picture below that you have to manually find your assets by browsing through folders to find them.


IronFX News Feed

News feed features are always important in broker applications as they allow you to make informed decisions. However, IronFX’s news feed feature is a bit unstructured as you get a lot of different news without any chronological order or relevance.

Charting Tools Of IronFX

Charting tools are helpful in predicting future prices and understanding the trend of your asset, and you get several charting options with IronFX. You can also use different technical tools for your analysis which can help you make informed decisons.

Desktop & Mobile Interface Of IronFX

The interface of the desktop and mobile applications is much better than the web platform elicited above. However, it still seems like a small upgrade as it still seems outdated and something 10 years old. The desktop and mobile applications have the same features as the web application apart from the fact that you can set up important notifications for timely decision making.


How We Rank Ease Of Use

Ease of use comprises of the overall user experience provided by a platform. We rank this dimension according to the following criteria:

  • Intuitive Interface Across All Platforms
  • Customizability Options Available To You
  • Advanced Research Tools For Analysis

Having an intuitive interface was ranked as the number one factor by most of our users in considering a broker with a good interface. The options available for customizing dashboards and statistical analysis were also very important factors according to our audience.

Final Verdict IronFX

There are plenty of features for users in IronFX but the outdated interface design and scattered news feed feature means that the broker essentially scores a mediocre 6 in this dimension.

IronFX Ease of Use Score: 6/10

#5 Deposit & Withdrawal Options At IronFX

Deposit and withdrawal options are a very important factor if you want to trade on a regular basis. Often, some brokers only provide options in the form of bank transfer or wire transfer which can be very time consuming and hinder the efficacy and efficiency of your trading decisions. IronFX does very well in this dimension by providing a plethora of options to users. Some of the deposit & withdrawal options include:

  • Credit & debit cards
  • Bank or wire transfers
  • Electronic wallets like Skrill and Paypal

The broker covers the most commonly used deposit and withdrawal methods used by most brokers. IronFX also allows E-Wallets from the following providers:

  • Skrill
  • Paypal
  • Neteller
  • FasaPay
  • SafeCharge

The broker offers good variety in e-wallets that cover most of the countries in the world. A feature that we really liked is that the broker allows FasaPay as a deposit and withdrawal method. This enables users in African countries like Nigeria to use the platform. Often brokers are available in a lot of countries but do not offer methods that allow consumers to use banking methods that are available in their particular country. However, IronFX does a good job here by offering methods available for deposits and withdrawals in most countries.

Maximum Deposit & Withdrawal Limits

Let’s have a look at the maximum funds you can deposit and withdraw with this broker.

Bank Wire TransferVaries according to your bank
Credit & Debit Cards$50,000
China UnionCNY 360,000
DotPayPLN 200,000

There is a good amount of money that you can withdraw or deposit using most transaction methids. This provides some really good value for users looking to use IronFX as their potential broker.

How We Rank Deposit & Withdrawal Options

Having a lot of Deposit & Withdrawal options gives you the flexibility to deposit and withdraw fudns in the manner that best fits your needs. We rank this dimension according to the following criteria:

  • Ways in which you can deposit your funds
  • Ways in which you can withdraw your funds
  • Number of options within different Deposit and Withdrawal Types

We look at 3 main options that a broker needs to offer for a perfect score as these are the most commonly used by brokers:

  • Credit/Debit Cards
  • Bank Transfer & Wire Transfer
  • E-Wallets such as Paypal, Skrill and WebMoney

Final Verdict On Deposit & Withdrawal Fees Of IronFX

The multiple options available for deposits and withdrawals hold the broker in good stead. The fact that IronFX offers options for users in different countries to deposit funds in the way that they seem fit means that the score in this dimension is a perfect 10.

IronFX Deposit & Withdrawal Options Score: 10/10

#6 Customer Support At IronFX

There are plenty of options for customer support that can help you solve any issues that you may have with your account. Some of the options available are:

  • Phone support on +44(0) 203 282 7777
  • Email on [email protected]
  • Live Chat
  • A dedicated account manager

A good feature is that all account holders can have a dedicated account manager to help you out. Having a dedicated account manager is a big deal because they know your portfolio and every time you need help you do not have to explain your credentials and portfolio to someone new, saving you both time and streamlining the customer support experience. The fact that they offer this service for all accounts, the basic one included, is a great value.

Pros Cons
Quick Live chatMay not get relevant answers via live chat
Detailed & Quick Response via Phone24/5 Availability rather than 24/7
Detailed Response On Email
Dedicated Account Manager

The phone support is available 24/5, which is not ideal, the live chat often takes 5-10 minutes to answer queries and the average response time via email is within 1 day which is good but can be slightly slow occasionally.

How We Rank Customer Support

Customer support plays an important role in getting much needed help. Our criteria takes into account the 3 most pivotal factors considered by our viewers which include:

  • Availabiltiy of Support via Live Chat, Phone & Email
  • Speed & Quality of Response Across Platforms
  • Availability of Customised Support Such as a Dedicated Account Mnager

The customer support dimension is a really important dimension for most of our readers. Hence, we not only take into account all the platforms that are used to provide support but the quality of the support provided and the consumer feedback.

Final Verdict On IronFX Customer Service

The proactive customer service throughout all the platforms. Although the email help can be slow at times but users have a dedicated account manager to help them, something not available with most brokers. The fact that the broker goes, the extra mile in providing a personalized customer service experience means that the broker scores an easy 10 here.

IronFX Customer Support Score: 10/10

#7 IronFX Asset Classes

IronFX offers plenty of options in trading forex and CFDs. Within forex, you can trade as many as 83 currency pairs. There are also some stock CFDs and Stock Index CFDs that you can trade in, although the number of options is very limited in both cases. You can also trade CFD’s on commodities like oil, gold and metals.

Asset TypeOptions
Currency Pairs83
Stock CFDs150+
Stock Index CFDs18
Commodity CFDs4  

The options offered for currency pairs offer amazing value for most users. This bodes well for most users looking to trade forex. The options provided include most major and minor pairs as we will discover in the subsequent section. The stock indices offered do provide decent value but there are plenty of brokers that offer more than 1,000 stocks whereas, the broker has a limited number of options for stocks.

Forex Pairs At IronFX

Let’s have a look at some of the commonly traded pairs with the IronFX broker. The following list incluudes major aswell as minor pairs that you can use.


The broker covers most of the major and minor pairs. For instance, you can trade in AUD, USD, CAD, EUR among commonly traded major pairs. You can also trade MXN, HUF and NOK among minor or other commonly traded pairs. This provides pletny of options to build a diversified portfolio for users, something that they can use to gain long term profitability.

Forex Pairs At IronFX Commodities

The broker just deals in metals which include:

  • Silver
  • Gold
  • Palladium
  • Platinum

As you can clearly see the commodities list is not extensive. This does not provide a wide portfolio for commodity traders looking for a broker that offers a lot of variety. If your a commodity trader looking for a good platform we recommend with more than 20 commodities from soybean to oil, wheat, sugar and various metals, has you covered.

Forex Pairs At IronFX Stock CFD’s

Let’s examine the stock CFD’s present with our broker and what kind of value they provide:

AirbnbMcDonald’s Corporation
Alcoa, Inc.Merck & Co, Inc.
American International Group, Inc.Moderna Inc.
American ExpressProcter & Gamble Co.
BoeingPfizer, Inc.
Alibaba Group Inc.Oracle Corp.
Bank of AmericaChevron Corporation
Citigroup, Inc.Walt Disney
Caterpillar, Inc.General Electric
Cisco Systems, Inc.Slack

The stock options provided by IronFX cover most of the industries. For instance, you can trade in tech, pharma, grocery and furniture stores among various other varieties. This provides users with a lot of options to create diversified portfolios which are important for creating portfolios with long-term profitability.

IronFX Stock Indices

Let’s have a quick look at the stock indices provided by the broker.

NETH25CashSpot Energy Commodities

The broker covers a lot of options in stock indices to provide you with a lot of value to trade the kind of assets that you feel comfortable trading. This provides some amazing value for users. The fact that the list covers Spanish, French, German and UK markets offers a lot of variety for users. However, another thing we would like to recommend is that most of the assets offered by the broker are CFD’s so in case you are new to CFD’s we recommend you test out how to trade CFDs without investing real money. Because CFD’s can be risky and lead to potentially large financial losses.

How We Rank Asset Classes

The criteria for ranking asset classes is pretty simple and as follows:

  • Number Of Asset Classes Offered, such as crypto, forex, stocks, ETFs and bonds.
  • Options Provided within each asset class

The more asset classes a broker provides, the more the chance to diversify your portfolio. Diversified portfolios often help in mitigating risk and long term profitability. This is the reason due to whch we give higher ranking and weightage to brokers who give you the option to hedge your risk.

Final Verdict

Even though you can trade several asset classes with IronFX, the limited number of available options for all except Forex, and the fact that IronFX does not offer assets such as crypto, ETFs and bonds, make this broker score rather poorly here.

IronFX Asset Classes Score: 3/10

#8 Referral Program At IronFX

Referral programs play an important role in making trading fun because you can use the platform with friends and learn more. However, as of writing this review, there is no active referral program for IronFX for individual users. This reduces the chance that you have to earn more funds by referring more friends.

How We Rank Referral Programs

The more rewards a broker gives the higher the score for this dimension. Rewards are a good way for encouraging beginners to start trading with friends and family making the experience enjoyable, due to which we encourage brokers to offer more and more rewards. We also take into account how difficult it is to attain these rewards.

Final Verdict

The broker does not offer any active referral program which does not bode very well for users looking for a referral program. Score for this dimension is a 0 because the broker does not encourage people to trade socially within their groups of friedns and family.

IronFX Referral Program Score: 0/10

#9 Demo Account & Educational Resources

IronFX offers a demo account with $10,000 paper money. Demo accounts are often a good way to start trading because you get a chance to learn by trading and testing out your strategies. However, the platform offers no educational webinars or training videos that can help in educating new users on the platform. Hence, the score for this dimension is a 7.

IronFX Demo Account & Educational Resources Score: 7/10

#10 Safety & Regulation

The app is heavily regulated by 4 major regulators namely:

  • Financial Conduct Authority (FCA)
  • Financial Sector Conduct Authority (FSCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Australian Securities and Investments Commission (ASIC)

This lends credibility to the platform as it is regulated by 4 strong regulatory authorities. This augers well for users because they can trade with the peace of mind that their broker is regulated and safe for them to work, and, most importantly, it’s not a scam. 2 of the 4 brokers are tier-1 brokers namely the ASIC from Australia and the FCA from UK. This lends a lot of credibility to the broker as an international entity that is not just in the market to make a quick buck. We always recommend our readers to see that the broker they want to trade with is regulated. The reason we suggest this is so that the broker’s business practices follow the law and your investment is as safe as it can be.

How We Rank Safety & Regulation

If a broker is regulated by a tier 1 broker like the Financial Conduct Authority of UK (FCA), Securities Exchange Commission (SEC), or Australia Securities & Exchange Commission (ASIC) it scores a perfect score. However, if it is regulated from a tier-2 broker like the Cyprus Securities & Exchange it scores an 8. The score for most tier 3 brokers is a 6 and the score for no regulation is 0. Regulation is an important factor for brokers as non-regulated entities can engage in harmful practices for investors that can be detrimental for them.

Final Verdict On Is IronFX Safe?

The fact that the broker is covered by so many regulators means that it’s a safe platform to use and scores a definite 10 for safety.

IronFX Safety & Regulation Score: 10/10

IronFX FAQ’s

How Does The Broker Make Money?

The Broker makes money by charging spreads and commissions.

Is The Broker Legit?

Yes, the broker is regulated which means that it is answerable for its business practices.

Does The Broker Allow Bank Transfers?

Yes, the broker allows you to transfer funds through bank transfer.

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to, which scores 91/100 points across the 10 categories mentioned in this review.

IronFX Vs.

IronFX has a decent fee structure coupled with plenty of deposit and withdrawal options. However, there are a few dimensions where is much better and a more comprehensive broker than IronFX. Has A Much More Intuitive Interface

The interface of’s trading platform gives you some very good options to make informed trading decisions. uses algorithms and market information in its advanced charting features and advanced news feed features that allow you to make optimal trading decisions. The interface is also much more user-friendly, easy to use and intuitive.

More Asset Classes is also one of the brokers that offers more assets for you to trade and diversify your portfolio. They offer some great asset classes like plenty of bonds, stocks, ETFs, commodities and forex which provides it with a greater product portfolio than IronFX. Building a diversified portfolio is a great way to make a strong portfolio and gives you that option by providing you with a myriad of options and financial instruments to trade with.

A Better Demo Account & Educational Resources

Apart from a completely limitless demo account with $100,000 paper money that you can continue using even after you start trading for real, has some really good educational resources to get you started with trading. You’ll get access to lectures, articles and resources for you to better understand the platform and trading in general to become a profitable trader. Some of the features offered by are as follows:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate,’s investor education app. is a comprehensive guide not only for understanding the platform but also understanding all the trading options that the application provides. If you want to apply for a complete trading platform then sign up for by clicking the following link.

Related: If you want to learn more about this broker, you can read this excellent review of

IronFX In Summary

IronFX has some great account types for different types of users and a competitive fee structure that can make trading CFDs and forex profitable. The app has some good customer service with the option to get dedicated account managers free of charge with all account types. Similarly, it is regulated by 4 major regulators providing consumers with safety. IronFX is a great choice for Forex traders who are looking for an easy-to-use, no-nonsense platform with plenty of currency pairs.

However, if you are looking for a more comprehensive broker then you should definitely sign up for instead. You can make diverse portfolios consisting of a wide array of assets. For instance, the broker boasts over 1,700 stocks & ETFs, hundreds of bonds and over 25 commodities. Additionally, is a no commissions broker so that provides a lot of variety for traders because they can make multiple trades without having to worry about paying hefty commission fees every time. Moreover, you will have access to training videos and webinars to sharpen your skills and state-of-the-art charting features and tools to analyse the stock market and predict your portfolio’s performance. Signup now for to start trading with a complete and holistic platform today.

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