| Updated: IronFX is one of the most reputable Forex, CFD, stock and cryptocurrency brokers, with many offices around the world, and it is available to investors in Europe, the United Kingdom, Australia and beyond. It offers more than 200 trading instruments across six asset classes, including Forex, metals, indices, commodities, futures and shares. The broker promises 24/5 multilingual support, ultra-fast trade execution within milliseconds, and some of the lowest market spreads, starting at 0.0 pips.
IronFX was established in 2010 in Limassol, Cyprus, after receiving a license from the Cyprus Securities and Exchange Commission (CySEC). Soon thereafter, the company began its global expansion, opening offices in Australia, London and South Africa. It now has more than 1.2 million retail clients from all over the world and, although it is not the largest FX broker on the market, it is known for its multilingual interface and support, flexible leverage of up to 1:1,000 and an attractive bonus program for new and existing clients.
| General Information about Iron FX | |
|---|---|
| Min. Deposit | $100 |
| Supported Languages | Arabic, English, Spanish, French, Italian, Japanese, Korean, Polish, Portuguese, Russian, Chinese (Mandarin) |
| Supported Currencies | AUD, CHF, EUR, GBP, HUF, JPY, PLN, RUB, USD |
| Website | https://www.ironfx.com/en/ |
| Phone Number | +357 25027212 |
| Support Email | support@IronFX.com |
| Headquarters Address | The Valley, AI2640, Cosely Drive, 1338, AI |
Regulation
IronFX is the trade name of Notesco Limited, a company registered in Bermuda and headquartered in Cyprus. The broker is regulated in multiple jurisdictions, including Cyprus, where it holds a license from CySEC. For clients based in the United Kingdom, it is authorized by the Financial Conduct Authority (FCA), one of the most respected financial regulators in the world. The FCA has issued a license to 8Safe UK Limited, which operates IronFX in the country.
Clients across Europe and the UK benefit from two layers of protection – segregated client bank accounts and financial compensation if IronFX fails to pay its customers. In the UK, the Financial Services Compensation Scheme (FSCS) guarantees up to £85,000, while in Cyprus, the Investor Compensation Fund covers up to €20,000. The broker is also regulated by the Australian Securities and Investments Commission (ASIC) and, with this license, is authorized to operate in Australia, New Zealand and South Africa.
Although the broker is available to traders in most parts of the world, it does not accept accounts from several countries, including the United States, Cuba, Sudan, Syria and North Korea.
Trading Markets
IronFX provides an online trading platform for Contracts for Difference (CFDs), derivative securities that allow making a profit of the price changes of financial instruments without actually owning these instruments in these accounts. When we speak of instruments, we refer to Forex, spot metals, cryptocurrencies, shares, commodities, indices, etc.Since brokers, including IronFX, offer their clients leverage – the opportunity to trade with capital that is up to 1,000 times their actual balance, the potential for huge winnings and the risk of considerable losses is huge.Forex
With more than $3 trillion traded daily, the foreign exchange market, or Forex, is the largest financial market and the most popular option for retail traders. Trading is conducted 24 hours a day, except on weekends, offering great flexibility to traders. Because of the high volume, liquidity, and leveraged positions, Forex provides excellent speculative opportunities and is preferred by many traders.
IronFX offers trading on more than 80 FX pairs, including major ones such as AUD/USD, EUR/USD, GBP/USD, and USD/CHF. The broker features noticeably lower spreads on popular pairs, which can reach 0.4 pips – or even lower, depending on market conditions. The maximum leverage allowed also varies depending on the particular pair. The leverage on crosses involving RUB, CNH, TRY, BRL, and MXN is set to 1:100, while the leverage on CHF, CZK, and DKK is up to 1:200.
Indices
CFDs on indices give traders exposure to global markets and provide great opportunities to profit from some of the most popular benchmarks in the US, the UK, Germany, China, and elsewhere. Indices represent the collective value of their underlying publicly traded companies. The S&P 500, for example, reflects the value of the top 500 companies traded on the New York Stock Exchange, while another popular index, the DAX, consists of the top 30 German companies listed on the Frankfurt Stock Exchange.
IronFX offers CFDs on popular indices, including the DAX, S&P 500, NASDAQ, Dow Jones, Euro Stoxx 50, FTSE 100, France’s CAC 40, and many more. Margin requirements on index CFDs are as low as 1%, which means traders with as little as $100 in capital can control a $10,000 position. There are several other benefits for those who wish to speculate on market indices, including high volatility, low costs, and leverage, all of which give traders greater flexibility.
This subcategory also includes spot energy commodities. The broker offers CFDs on several commodities, including Brent crude and West Texas Intermediate (WTI) oil.
Spot Metals
Trading spot metals is similar to trading Forex – traders can speculate on the prices of precious metals by taking short or long positions. With metals such as gold and silver, traders can hedge against risk and make their investment portfolios more diverse and balanced. Precious metals have always been valuable, but their prices are less affected by supply and demand than those of other commodities. Typically, the price of gold, for example, is driven by prevailing market sentiment.
Things are different for silver and platinum – silver is widely traded for industrial purposes, as is platinum, which is also much rarer than silver or gold. IronFX gives traders the opportunity to trade CFDs on these metals, as well as on palladium, a lustrous silvery-white metal that is extremely rare and primarily used in catalytic converters. With tight spreads as low as 0.04 and margin requirements of just 1%, IronFX offers its clients an excellent opportunity to profit from the global gold and silver markets. The spreads on platinum and palladium are, of course, higher, as palladium is not only 30 times rarer than gold but also more valuable.
Commodity Futures
The broker does not offer a wide range of commodity markets, but it does provide trading on the most popular ones. In addition to trading in spot metals and spot energy commodities, it also gives its clients the opportunity to trade commodity futures. Futures contracts allow traders to profit from price movements before the contract’s closing date. CFDs on commodity futures are extremely flexible and convenient compared with trading and owning the physical commodities themselves.
IronFX offers trading in copper futures, as well as energy futures – U.S. Light Sweet crude oil, Brent crude oil, and natural gas. Additionally, the broker offers futures on soft commodities. Unlike hard commodities such as metals and oil, soft commodities are typically agricultural products that are grown rather than mined. The soft commodity futures available on IronFX include corn, wheat, rice, soybeans, coffee, cocoa, sugar, and cotton.
Shares
With CFDs on shares, traders can invest in some of the largest and most successful companies in the world without actually owning any stock. This type of trading allows investors to speculate and profit by taking long or short positions, using leverage, and enjoying tight spreads, with only a 0.10% commission charged by IronFX. Moreover, shares – especially when traded from long-term positions – tend to be very stable and can provide a reliable source of profit.
IronFX offers its clients broad exposure to global markets and industry-leading companies from the United States, Europe, the United Kingdom, and beyond. CFDs are available on the shares of Walt Disney, Cisco Systems, Facebook, JPMorgan Chase & Co., HP, Apple, HSBC, eBay, Google, Lloyds, Samsung Electronics, Airbus, and many more.
| Instrument | Spread |
|---|---|
| AUDUSD | AVG 1.2 pips |
| AUDUSD | MIN 1 pips |
| EURGBP | AVG 1 pips |
| EURGBP | MIN 0.9 pips |
| EURUSD | AVG 1.2 pips |
| EURUSD | MIN 0.7 pips |
| GBPUSD | AVG 1.3 pips |
| GBPUSD | MIN 0.8 pips |
| NZDUSD | AVG 2.8 pips |
| USDCAD | AVG 1.5 pips |
| USDCAD | MIN 1.3 pips |
| USDCHF | AVG 2.5 pips |
| USDCHF | MIN 2.3 pips |
| USDCNY | AVG 20 pips |
| USDCNY | MIN 13 pips |
| USDJPY | AVG 0.9 pips |
| USDJPY | MIN 0.4 pips |
Trading platforms
 Platforms |
 PC / MAC |
 Smartphones |
 Tablets |
|---|---|---|---|
| MetaTrader 4 |   |   | |
| Web Trader | | | |
| Trading Information | |
|---|---|
| Trading Platforms | MetaTrader 4, TradeCopier |
| Demo Account |  |
| Hedging | |
| Scalping | |
| US Traders |  |
| Arabic Traders | |
IronFX offers several trading platforms for PC, Mac and mobile devices. Options include the popular MetaTrader 4 and the Personal Multi-Account Manager, but the broker does not provide proprietary software. This omission should not inconvenience most traders, however, because MT4 is already familiar to them.
MetaTrader 4 (MT4) can be downloaded directly from the IronFX website by traders who prefer a desktop application. With it, clients gain access to more than 200 financial instruments in Forex, stocks, spot indices, spot metals, futures and commodities. The platform is fully customizable and offers advanced charting, a wide range of indicators, detailed activity reports and live streaming news.
Clients can also download MT4 Advanced, which includes front-end terminals, back-office reporting, automated strategies and support for Expert Advisors (EAs). EAs are automated trading bots that can be customized by the trader and used for algorithmic trading based on preset rules and conditions.
Another option is WebTrader, the browser-based version of MT4, which is fully synchronized with the desktop platform. The web terminal is a modern, fast HTML5 application that runs on any operating system without the need to download additional plug-ins or add-ons.
The same platform is also available for mobile devices and can be downloaded for free from the App Store or Google Play. However, the mobile version has certain limitations. For instance, it offers three chart types – bars, Japanese candlesticks and broken line – and only 30 of the most popular technical indicators.
The alternative is the Personal Multi-Account Manager (PMAM), which is available only to professional traders and money managers. It must be installed on PCs running Windows 98 or later. The platform allows clients to manage an unlimited number of accounts but, as noted, is intended for professionals only.
Payment methods
| Brand | Minimum | Fees | Processing Time |
 | $250 | No Fees | Instant |
 | $250 | No Fees | Instant |
 | $250 | No Fees | Up to 3 business days |
 | $250 | No Fees | Instant |
 | $250 | No Fees | Instant |
 | $250 | No Fees | Instant |
 | $250 | No Fees | Instant |
| Brand | Minimum | Fees | Processing Time |
| - | up to EUR 1.5 per transaction | Instant |
| - | up to EUR 1.5 per transaction | Instant |
| - | 1% capped to USD 10,000 | Instant |
| - | 2% capped to USD 30.00 / minimum USD 1.00 per transaction | Instant |
| - | Up to 1.2%, Minimum 5USD per transaction | Instant |
| - | 0.5% per transaction (max approx. $5) | Instant |
IronFX processes payments in multiple currencies, and deposits made in any other currency are converted to the account’s base currency. Accounts can be denominated in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB and HUF. The broker does not charge fees on deposits or withdrawals, and the minimum deposit is $250, although this amount can vary by account type.
Traders can fund their accounts through a wide range of payment methods, including traditional options such as bank wire transfers and debit or credit cards. While card deposits are usually instant, bank wires may take up to three business days to reach the trading account.
A much faster alternative is to deposit through a digital wallet. Digital wallets, or e-wallets, are fast, secure and convenient for sending and receiving electronic payments. IronFX accepts several e-wallets, including the popular Neteller and Skrill, as well as FasaPay, a Malaysian wallet used by many FX brokers. The broker also supports several local instant-banking services – UnionPay for Chinese customers, Dotpay for Polish traders and more.
Another option is PumaPay, a blockchain-based payment system that uses so-called PullPayment contracts, allowing the merchant to ‘pull’ funds from the payer’s wallet after prior authorization. The method also uses the PMA token, which serves as the unit of value within the PumaPay ecosystem and functions much like other cryptocurrencies.
Account types
IronFX offers several types of live and demo accounts, allowing traders to test features and functions without risking real money. Once they are comfortable with a demo, they can open a live trading account. Broadly speaking, accounts fall into two categories – Live or STP/ECN.
| Market | Leverage |
|---|---|
| Forex CFDs | 1:30 (CySEC) |
| Forex CFDs | 1:30 (FCA) |
| Forex CFDs | 1:1000 (FSCA) |
| Stock CFDs | 1:5 (FCA) |
Live Micro
Most traders qualify for this account because the minimum deposit is only $250, and spreads start at 1.8 pips. Clients can use flexible leverage of up to 1:1,000. The minimum lot size is 0.01, and the account can be denominated in USD, EUR, GBP, AUD, JPY, BTC, PLN and CZK. No commission is charged on trades.
Live Premium
The Premium account is designed for traders who can deposit at least $1,000. Maximum leverage and minimum lot size are identical to those of the Micro account; however, spreads are lower, starting at 1.6 pips. Traders can choose any supported base currency, and Premium account holders pay no commission on trades.
Live VIP
VIP members enjoy even better conditions – for example, spreads tighten to about 1.4 pips. This account is available only to traders who deposit $10,000 or more and set the US dollar (USD) as the base currency.
Zero Fixed
Zero Fixed accounts offer spreads of 0.0 pips, but during midnight sessions the fixed spread becomes floating for three hours (23:00-02:00 GMT+2). This account can be opened only in USD or EUR. Eligibility requires a minimum deposit of $500. Maximum leverage is 1:500, and a commission may apply to certain trades.
STP/ECN No Commission Account
With STP or ECN accounts, clients’ orders are not processed by a dealing desk but forwarded directly to the interbank market. This setup provides faster execution, greater liquidity and more accurate pricing. STP (Straight-Through Processing) execution does not include an external commission—the fee is built into the spread—and trades are sent directly to liquidity providers.
With the IronFX No Commission account, clients enjoy commission-free trading and leverage of up to 1:200. This account can be opened in USD, EUR, JPY or BTC. The minimum deposit is $500, and spreads start at 1.7 pips.
STP/ECN Zero Spread
The STP/ECN Zero Spread is an ECN account (ECN stands for Electronic Communication Network). With this account, traders gain direct access to other market participants. Because the broker aggregates quotes from multiple providers, spreads start at 0.0 pips and remain very tight. A commission is charged, however, as the broker must still be compensated.
ECN execution provides liquidity among the various members of the electronic network. IronFX offers this account in USD, EUR and JPY. Leverage is up to 1:200, and the minimum deposit is $500.
STP/ECN Absolute Zero
The Absolute Zero account is an STP account with no commission on trades. Spreads are also very tight, starting at 0.3 pips. The minimum deposit required for this account is $500, and, once again, clients can register USD, EUR or JPY as their base currency.
Support
The IronFX website is available in many languages, and the MT4 platform supports even more, making it suitable for traders worldwide. During registration, clients can choose among English, German, Spanish, French, Italian, Portuguese, Polish, Russian, Japanese, Arabic, Korean and Chinese.
More important, the broker offers professional assistance through local support teams that can be contacted in multiple languages. Live chat and the call center are available 24 hours a day on business days—the only phone number listed on the site is +44(0)203 282 7777. Traders can also email support@ironfx.com.
Conclusion
IronFX is a relatively small FX and CFD broker, but it gives its clients access to global markets, a broad range of trading instruments and competitive spreads. It is licensed by some of the most respected regulatory bodies in the world and offers solid protection for client funds. The broker also supports multi-account management and provides free VPS hosting to clients who deposit at least $5,000. In addition, it is one of the few brokers that regularly offer bonuses and promotions.