The rating system provides a clear picture of how well your broker fulfills this service. A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money. IronFX received a high score for the Account Types and Terms category in our rating. In order to achieve your trading goals, you need to choose the right account. We evaluate each broker’s account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.
How do I withdraw money from IronFX?
You can withdraw your profits only through the Bank Wire. You can receive your initial deposit via the payment method initially used and then all excess funds (profits) will be sent to your bank account. In order for the above to take effect, you need to apply for a bank withdrawal from your client portal.
Clients can choose between two types of floating and an equal number of fixed accounts that offer different spread schedules and fee structures. Several account types allow retail clients to bypass IronFX’s dealing desk, which carries a systematic conflict of interest, and trade directly with the interbank system. Accounts are tiered into Micro, Premium, and VIP levels, depending on capital commitment, with spreads dropping on major Forex pairs between tiers.
WORST BROKER EVER
That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
Due to the big difference in the spread levels between various instruments, traders should monitor the spreads for the instruments they want to work this and decide whether https://limefx.name/ suits them. In the IronFX case, traders will likely choose the entity based on their location. For example, EU-based clients who open an account with Notesco Financial Services Ltd will benefit from the oversight of CySEC, a Tier 1 regulator. In addition, IronFX offers daily, updated educational and market news delivered by a multi-lingual professional research team. Entering the financial markets with IronFX is simple, transparent and supportive for all levels of investors.
limefx forex brokers reviews offers Metatrader 4 and 5 but no dedicated or proprietary trading platform. Social and copy trading options are limited, with no dedicated third-party platform. They do offer a Mirror account, but that’s a hedging tool, not a social trading interface. IronFX provides access to 84 forex pairs, 7 FX futures, 31 commodities, 149 stocks, 33 indices, and 32 cryptocurrencies. It should be noted that IronFX offers a high number of minor and exotic forex pairs. MetaTrader 4 is a well-known platform that offers a wide range of indicators and timeframes for technical analysis.
Account verification / Withdraw
It should be noted that the broker lacks written analysis and trading ideas. Such analysis and ideas are useful for beginner traders who can watch the whole process of the creation of a trading plan. Traders also have access to three STP/ECN accounts.STP means “straight-through processing”, when orders’ are routed to liquidity providers. ECN means “electronic communication network”, when the network is used to match orders between buyers and sellers. A hybrid STP/ECN model is a combination of STP and ECN, which improves customer service.
Overall, although IronFX offers a wide range of informative video content, the materials generally lack substance and are not well-structured. IronFX’s blog content is curated by IronFx’s in-house analysts and is updated frequently. The blog content is a mixture of educational materials, explaining concepts such as technical and fundamental analysis, and also provides an overview of the markets. IronFX’s educational materials are limited compared to other large international brokers. Overall, IronFX’s non-trading fees are high when compared to other brokers. When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. FXScouts has been the UK’s most trusted Forex broker review site since 2019.
Lots of complaints.
For a person who is just starting to operate it is very difficult to generate profits… Also this broker uses real people to influence you to work with the broker where you they join a vip telegram group and send you signals all day long and very few end in profit… These influential people are in charge of brainwashing you by promoting luxuries and profits that they have generated through trading, but this is only to influence people to invest in the broker… They will tell you that you are investing in the licensed version in your country such as Ironfx.com.au in Australia, but they will put you into Ironfx.com which has no license. They will then trade your money away without your authority until there is nothing left. In reality it is just a demo account and you won’t be able to withdraw anyway…
You will never see your money and the useless support email they give is a con and no one answers the phone. We are sorry to know about your negative experience, please email us at trustpilot- with your account details for further assistance. The experiences about customer service, deposit, withdraw are not so efficient. For example, you need to wait for several hours when using credit card deposit. I have seen many negative reviews of this company and they are mainly from the past. They have been changing for the better and making sure to have better customer support and making things right.
👮♂️👮🏽♀️ Are there regulatory actions against IronFx?
IronFX offer a free VPS to new and existing clients who make a deposit of at least $5,000 and maintain the balance in following months. Having a VPS allows you to run trading platforms 24 hours a day, 7 days a week. This means that traders do not need the trading platform running on your computer and can access the VPS from anywhere at anytime to place or manage trades. A top specification VPS can cost up to $100 per month so this is a great offer for those who meet the minimum requirement. The STP/ECN Zero Spread Account offers spreads as low as 0 pips on the EUR/USD, and a commission is charged per lot traded. The commission is 18 USD per lot on major pairs, and 23 USD per lot on minors.
Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market. IronFX offers accounts denominated in GBP, which means that UK residents will not have to pay currency conversion fees.
unable withdraw my fund back.
This broker has excellent staff and speedy funding, my favorite being that bitcoin withdrawals are processed in less than five minutes no matter how much money you withdraw. So far I’ve had a fast execution of funds, flexible leverage and stable usability on the MT4 trading app. This fairy tales about IronFx not doing withdrawals anymore are completely nonsense. They scared me the past weeks, because i had £22K at my account but i got my money back.
Quick funding, fast withdrawals and awesome trading conditions are just some of the features that make IronFX one of the best forex brokers in the industry. IronFX’s range of financial instruments to trade is limited compared to most other brokers, but it offers over 80 Forex pairs. Traders should note that IronFX does not publish the list of deposit and withdrawal methods it supports – one has to register an account to find this information. This is unusual and not consumer-friendly, as most brokers publish their withdrawal and deposit fees on their websites. Also, if there are only deposits and withdrawals on the account with no trading activity, IronFX will take up to 3% of the account balance as an administrative fee to cover costs incurred. The final trading cost to consider at IronFX is the swap rate charged on positions held overnight. In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded.
All entities hold clients’ accounts segregated from the firm’s accounts, which means that clients’ funds are safe in case the broker has financial problems. IronFX has entities that are regulated by CySEC, FCA, and FSCA. The broker also has an unregulated entity based in Bermuda, which led to a below-average score in our rating. When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses.