General Information & Regulation
IronFX is a multi-asset online broker best known for forex trading and opened for business in Cyprus in 2010. By 2015, the company had offices in London, Sydney and Johannesburg, obtaining licenses to trade from the UKs Financial Conduct Authority (FCA), with regulatory license number: 585561.
Markets Instruments
IronFX offers over 200 tradable financial instruments across: Forex, Indices, Shares, Metals, Futures, Commodities, Cryptocurrencies.
Minimum Deposit
Seven trading accounts are available at IronFX and the minimum deposit required is $100.
Leverage
IronFX offers flexible leverage up to 1:1000. This enables traders with limited bankroll to take larger positions. Note, trading on leverage amplifies not only potential returns, but also potential losses.
Spreads & Commissions
Spreads at IronFX start at 0.7 pips for the major currency pairs while the average is 1.2 pips. Of course, spreads do widen during periods of volatility and low trading volume.
Inactivity Fees
IronFX charges a $50 inactivity fee for trading accounts sat idle for over a year. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.
Trading Platform Available
IronFX uses the MetaTrader 4 trading platform. The software is considered one of the best in industry, especially for forex trading. It‘s geared towards beginners and intermediates, promising easy-to-use features and straightforward portfolio management. Traders can use the free MT4 download to install the platform on desktop devices, including Mac. Alternatively, you can trade directly through MetaTrader’s WebTrader.
Deposit& Withdrawal
IronFX customers can choose from several deposit and withdrawal methods.
Deposits
Bank wire transfer – Maximum deposit varies among banks
Credit & debit cards – Maximum deposit $50,000
Skrill – Maximum deposit $50,000
Neteller – Maximum deposit $50,000
FasaPay – Maximum deposit $5,000
China Union – Maximum deposit CNY 360,000
DotPay – Maximum deposit PLN 200,000
Minimum deposits start at $100 with the Micro account and climb to $10,000 with the VIP account. Withdrawal times vary depending on the banking provider but range from the same day to seven days. For any withdrawal problems, contact customer support on one of the channels described further below.
Customer Support
The IronFX customer support team is available 24/5 in 30 different languages:
Email address – support@IronFX.com
Telephone contact number – +44(0) 203 282 7777
Live chat – Chat support is accessible from the bottom right of the brokers website
FAQs – Found in the ‘Contact Us’ section, the FAQs can answer queries on any number of topics, from payment queries to instructions on how to close an account.
