Forex

IronFX Global Review and Rating

IronFX Review
3.0 5 RATING
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31 REVIEWS

IronFX Global execution and slippage

2.64 pips
Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be. 
 
Our slippage data about IronFX is sampled by 10 of the most popular forex trading strategies in Zulutrade.com
1.14 pips

IronFX Global slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

1.36 pips

IronFX Global slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
11.14 pips

IronFX Global slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
0.54 pips

IronFX Global slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
0.79 pips

IronFX Global slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
3.16 pips

IronFX Global slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.00 pips

IronFX Global slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
4.08 pips

IronFX Global slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
1.54 pips

IronFX Global slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts

 

Account Type Minimum Deposit   Minimum trade size Maximum leverage Spreads
Micro $500 0.01 (micro lot)  1:500

Floating, from 1.1 pips on EUR/USD

Fixed, 2.2 pips on EUR/USD

Premium $2 500  0.1 (mini lot)  1:500

Floating, from 0.7 pips on EUR/USD

Fixed, 1.8 pips on EUR/USD

VIP $20 000 0.1 (mini lot) 1:500

Floating, from 0.5 pips 0n EUR/USD

Fixed, 1.6 pips on EUR/USD

Zero Fixed Spread $500 0.01 (micro lot)  1:500 0.0 pips EUR/USD + commission $18/Lot
STP/ECN $500 0.01 (micro lot)  1:200

Floating, from 1.7 pips EUR/USD 

Floating, from 0 pips + commission $13.5/Lot


While most brokers offer a couple to three account levels, IronFX Global’s customers can sign up for one of five available account types. You may choose between fixed and variable spreads, market and instant execution, commission-free trading or tighter spreads involving commission.


In addition to the three standard account types (Micro, Premium, VIP), which are commission-free, this broker offers STP/ECN accounts, allowing traders direct access to deep liquidity and interbank pricing provided by top-tier liquidity providers. They offer spreads as low as zero and market execution with no re-quotes.


Besides, swap-free service is available to clients that are of Islamic faith.


The Company


IronFX Global serves both retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America. It offers its clients trading in more than 120 currency pairs, a wide range of CFDs on equity indices, agricultural commodities, base metals, oil and energy products, as well as stocks.


Cyprus-based IronFX Global Limited, operating under the IronFX Global brand, is a part of the big IronFX family.
The IronFX group also includes:


- ASIC-regulated GVS (AU) Pty Limited, doing business as FxGiants (formerly IronFX Global Australia);
- 8Safe UK (formerly IronFX UK), which is authorized by the UK‘s Financial Conduct Authority (FCA);
- IronFX Global Ukraine, which is a member of Ukranian forex self-regulatory organization UCRFIN;
- IronFX Global (South Africa) (Pty) Ltd is authorized by the Financial Services Board.


Both the Australian and the UK units have been recently rebranded, shortly after in November 2015 IronFX was ordered by CySEC to pay €335,000 in settlement for denying withdrawals to more than 150 customers.


Security of Funds


As is clear from above, IronFX Global Limited, doing business as IronFX Global, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).


CySEC applies certain rules to license holders, one of them being the minimum capital requirement. The Commission requires Cyprus-based forex brokers to hold at least €1,000,000 in order to prove their financial stability.


Furthermore, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to a maximum of 20,000 EUR to its covered clients, If the Company becomes insolvent or ceases trading.


What is more, IronFX Global is one of the few FX brokers to offer Negative Balance Protection, meaning that all negative balances are covered by the company.


Trading Conditions


Minimum Initial Deposit
In order to open an account with IronFX Global, traders have to invest $500, which is a comparatively high minimum initial amount. Other Cyprus-based brokers, like FXTM and XM, demand just $5 from its clients as a start.


Spreads & Commissions
With all three standard commission-free account types clients are able to choose between fixed and floating spreads, both of which being mediocre on the Micro account type (variable from 1.1 pips and fixed 2.2 pips on EUR/USD). The STP/ECN account, on the other hand, which is also available with $500 initial deposit, offers only variable spreads, and there are two options available: spreads as low as 0 pips, plus commission $13.5/Lot, or a commission-free option with spreads starting from 1.7 pips on EUR/USD. We would opt for the zero spread option, where in fact the minimum trading costs for the EUR/USD pair would be around 1.4 pips, commission included. Still, spreads within the 1.0 – 1.5 pips range are considered average for the forex market. If you are willing to make a larger initial deposit, VIP and Premium accounts with this broker offer more favorable conditions: spreads from 0.5/0.7 pips, without any commission.


In comparison, XM provides spreads from 1.0 pips on EUR/USD on its Standard commission-free account and Exness offers its ECN account holders with average spreads of 0.4 pips on EUR/USD, incurring a commission of $ 2.5 per standard lot. For further information, you may check out and compare real-time spreads of 15 leading brokers here.


Leverage

The maximum leverage with this broker is comparatively high, reaching 1:500. Nonetheless, many Cyprus-based brokers offer leverage levels, similar to the ones provided by IronFX Global or even higher: XM – up to 1:888, and Exness is currently running Unlimited Leverage promotion. You may check out more FX brokers offering leverage equal to or exceeding 1:500 here.


While it is true that such leverage levels may multiply your earnings on a small deposit, do not forget that there is also another side to it: The higher the leverage, the higher the risk of heavy losses.


Trading Platform


Like most FX brokers, IronFX Global supports the MetaTrader 4(MT4), which is the trading platform preferred by most traders. It comes in desktop, mobile and web versions and provides a number of technical indicators, advanced charting package and a wide range of Expert Advisors (EAs), as well as extensive back-testing options for them.


The broker also provides the use of VPS (virtual private server) to customers who are using EAs to trade, allowing trading robots to work more efficiently due to a high-quality broadband Internet connection, and also enabling traders to make timely adjustments to the advisors’ operation. IronFX Global offers free VPS hosting to new and existing clients who deposit a minimum of $5,000 and maintain such balance for the following months.


What is more, this broker offers AutoTrade by MyFXbook - the latest in social trading software designed to facilitate community users with their trading decisions.


Like most FX brokers, IronFX Global also offers Personal Multi-Account Manager (PMAM) option, enabling traders to manage and trade on multiple MT4 accounts simultaneously through a single live account.


Promotions
IronFX Global regularly organizes various demo & live Trading Contests, the latest live one providing $100,000 cash prize.
Besides, the broker offers its customers a number of lucrative bonuses. At the time of writing this review are running the following ones:


- Welcome bonuses:100% SHARING BONUS on up to $10,000, or 40% POWER BONUS on up to $4,000;
- Cash rebates: you may receive from $2 to $3 with every lot that you trade;
- Refer a friend bonus ($50 - $200), its amount depending on the initial deposit of the referred client and lots traded.


Methods of Payment


IronFX Global`s clients can make deposits to and withdrawals from their accounts via wide range of payment methods: credit/debit cards (Visa, MasterCard), bank wire transfer, and e-wallet systems, such as Neteller, Skrill, dotpay, FasaPay, and China UnionPay.


Another cool feature offered by this broker is the IronFX Card - a prepaid MasterCard® that comes in either USD or in EUR, which allows you to withdraw funds with ease and efficiency with anywhere in the world.


Conclusion


Part of an international group, IronFX Global is an award-winning forex and CFD broker offering its customers a large variety of almost everything – markets, account types, promotions, payment options, you name it. Its reputation, however, is damaged by the fine imposed in the end of 2015 and the scandal, which is still ongoing. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros  Cons
Well-regulated worldwide No choice of trading platforms
MT4 available Quite high minimum initial deposit
High leverage levels Damaged reputation
Negative Balance Protection  
Variety of promotions, regular contests   

 

 

Forex
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Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for IronFX Global

Good promotions and customer service

I like ironfx but they do not offer all the instruments I like to trade with, however I have good experience with them, they have good promotions and their customer service was always responded.

Jack 04/25/2017

Good experience with IronFX

I have been trading with IronFX for quite a while now and just caught me by surprise as I was very carefull at the begining deposit very little money as I was reading bad reviews and I was very hesitate. But everything is working fine since day one, no issues with the execution or withdraws so far. Great support team, available when ever. the only thing which can be consider as a con is that you can withdraw profits through bank only

Adrea Pereira 08/26/2016

Always see reviews before Investing in a Broker

Whenever you are investing i would say to check the reviews about them as they will tell about the Reputation of that Broker and then only trade with them

Thanks

Stefan De Vries

Amsterdam, Noord-Holland Netherlands

Stefan De Vries 11/17/2015

Plz back my money.

I have not being paid in full yet at all. I only received half of my profit even I requested it to take out all my money. Please transfer the money back to me. I want to end the nightmare experience with this broker!

LIMAFX 06/15/2015

Excellent new product

I have been with Ironfx for some time now and I was recently informed about a new mirror account. It allows you to use 2 accounts and hedge between them. In one of the 2 accounts I was give their bonus which allows me to make better profits. I use a mirror ea with this and it automatically opens the reverse/hedge position in a second account. Good way to make money. They also offer some other ea's with this product but i was only interested in this one.

Andy 05/27/2015

Withdrawal issue

Ironfx was a favorite broker to me but considering that other brokers offer a much lower spreads and withdrawals processed in 24hours, I can say bye bye ironfx. They say withdrawals are processed within 3 to 5 days and this is unacceptable, my current withdrawal is in it's 5th day and it's still waiting for process. Whether i get my profits or not this will be my last time with ironfx.

Looks like the bigger they get the worst they become.

Nasser 05/01/2015

IRONFX WITHDRAWAL ISSUE

Hi my name is Irfan Gujjar.I'm freaking pissed off about Ironfx. I am a client of them and trying to withdraw from last 2 months. First they said that the payments department
is overloaded, then they said that since I made a lot of profits then compliance has to approve my withdrawal.How the hell are they processing so long time?

And IronFX boasts on their website that they have ASIC, Cysec, FCA, Eurex license and membership. It's a big bullshit.
Payment transaction are mentioned Below:

1) 23098813 2014-12-23 WMP3D6J23GNH1I97 Withdrawal – MoneyBookers 975.03 USD Declined
2) 23100175 2014-12-19 WM339E5649NGRT1C Withdrawal – MoneyBookers 89.00 USD Declined
3) 23102132 2015-01-05 WM4OBMXKM8NHP77S Withdrawal – MoneyBookers 1,000.00 USD Declined

This payment declined three times as you see:

4) 23106299 2015-03-02 WMHEFFEC0GNKITR8 Withdrawal – MoneyBookers 1,470.00 USD Declined
23106299 2015-01-29 WB9N8Y4SN6NK31ZK Withdrawal – Bank 1,470.68 USD Declined
23106299 2015-01-26 WBIJMLJTMONISZ56 Withdrawal – Bank 1,470.68 USD Declined

5) 23108970 2015-03-27 WM4SR4IX2BNLV5XK Withdrawal – MoneyBookers 500.00 USD Declined


Can anybody here share their experience with withdrawing profits from IronFX. I would very much appreciate it. I've just been fool not withdrawing earlier from Iron.


If you want to help me contact me on :

GMAIL: irfan786gujjar@gmail.com
FACEBOOK: irfan786gujjar@gmail.com
TWITTER: GujjarIrfan786
LINKEDIN: irfan786gujjar@gmail.com

irfangujjar 04/07/2015

IronFX thumbs up

I really enjoy trading with them as i have not had any issues with them, great promotions, good execution and support anytime i needed it. What i like most is that the always keep improving, with new account types, promotions and platforms

Dawid 04/01/2015

Strong and helpful broker

I’ve been trading with Ironfx for about 6 months. Initially, I joined them for the welcome bonus, which gave me a small amount of free money to trade with. Then I became used to the platforms and the service. I used tips that my account manager gave me in daily market research on some of my trades, and made some nice profits luckily. Overall a strong and helpful broker.

Pilagi 03/11/2015

Very professional and good services

I have been using IronFX platform for 2 years. I have never had problems with withdrawals and I have referred a few friends to open accounts with it. So far I'm very impressed from their professionalism and service.

Daniel 03/10/2015

Satisfactory services

Ironfx has a bright future. They have big potential for growth due to the services and support provided by them.

Jerin 03/07/2015

Satisfactory Experience

As a traded you need to understand why currency pairs are always placed in pairs. This is because it is necessary to compare one thing against another to know how much it is worth. As such it is necessary for us to compare the exeperience we have had with ironfx with another broker. Before trading at ironfx i was trading with a smaller company that has gone into insolvency. The differences: ironfx is highly regulated so i at least feel that i am in safe hands here. I don't know why people in other comments are complaining about their online representatives because i have gone on a few websites to talk on chat and most companies chat system is below average compared to ironfx. Spreads, options and availability are all important factors for me. Ironfx has low spreads with many options of accounts that allow me flexibility. i have contact with ironfx a lot of the time and if they can't help me on their live chat my account manager calls me back to inform me of the necessary information.

Jack Miller 03/05/2015

Reliable broker with excellent promotions

I have been trading with Ironfx , attracted initially by their promotions. i wasnt sure if i wanted to stay with them, but it was so easy to get a welcome bonus i thought i would give them a go. their trading services have been fine - which is good as i was trading with them when the chf crisis happened in the market. the company carried on like nothing happened. their spreads are good and they have some interesting instruments that i have experimented with. i tried to make a test withdrawal after the snb and i succeeded. i will stay with them for now, i am quite happy so far.

albadrFX 03/03/2015

Volatile to market fluctuations

Ironfx is very volatile in today’s markets…They seem to be a good bet to me.

Steve86 03/03/2015

Good Client support services.I recommend Ironfx

I like their client support services. My account manager is available all the time and answers all my questions. Ironfx is truly a reliable broker for forex trading.

Srinivasan 03/02/2015

Amazing Services!

Hi All,

I am very happy with IronFX. I have become more professional and so I have started trading a number of products now. I was very scared at first to start as I had heard scary things about forex trading but my experience with it was good. Overall, Ironfx is a wonderful broker with amazing services!

Thank you

Josh 03/01/2015

Value For Money

I use IronFX for share trading, it provides margin rate of 10% along with that commission rate is 0.10%.

Tanvar Jahid 02/25/2015

Commendable Services

I have been using IronFX for almost a year now, and I have been in the trading industry for more than 6 years. As per my experience IronFX provides the best customer support.

austin 02/24/2015

Reliable services

Hi,
I had opened a trading account with Ironfx 3 years back. The client services offered by them is just amazing. They are ready to assist you 24/7.
The only thing that I would like them to improvise in is that the rebates can be higher.
Overall they are very professional and reliable.

joseph 02/23/2015

IRONFX WITHDRAWAL PROBLEM

NEVER TRADE WITH THIS BROKER
AT THE TIME U WITHDRAW UR PROFITS THEY SIMPLY MAKE A EXCUSES AND THEY WILL DECLINE UR WITHDRAWAL.
I M BROKE UP WITH THIS IRONFX BROKER THEY LEFT ME HELPLESS
DONT SIMPLY INVEST YOUR MONEY BLINDLY, GOOGLE IT, KNOW IT AND THEN INVEST IT. BUT I STRONGLY DISCOURAGE TO TRADE WITH IRONFX.

more 02/21/2015

Trading services are very bad, their system always jumps

Trading services are very bad and their system always jumps prices which is not the price you buy/sell. I call them but nothing helps, instead they keep asking me to deposit more for the bonus.

LIMAFX 10/01/2014

Good broker

Very good broker!

Suttam 09/29/2014

IronFX third class broker

most slippage broker i hate ironfx

Jamil Ahmed 03/22/2014

Best service ever

I can highly recommend IronFX.

I have a personal account manager who is available 24/7.
when I lost internet connection I called him up and he helped to close my position over the phone.

The execution speed and spreads are one of the best on the market.
And on top of this I got 50% bonus for trading.

I have account with 7 other broker but they are my favorite.

Janos07 04/04/2013

Excellent Service

Very good broker, fast execution. Have a VIP account and offers and spreads are excellent. Also like mu account manager, he provide quick help. Fantastic promotions - month after month. I was with other brokers before, this one is by far best. Very happy.

Giannis Artis 03/25/2013

Unhetical Behavior

The site of Iron Forex Looks Good and the information inside even better if we presume that this is not an honest broker.

What is the aim of an Fx broker? To attract more customers right? The way I perceive Ironfx is that they lie to you to get you in and then take your money. Why I am saying that? If you look at their site, home page banner number 3 its says interbank pricing from 0. and then in their site: http://www.ironfx.com/en/trading-products/forex they say "We offer the tightest spreads in the market, starting FROM 0.4 pips" Why not being honest from the first banner? Customers are not stupid, they know how to read.

In general I like their site and services but this makes me crazy to see such inconsistency in their marketing approach. I hope they will understand my post from a customer point of view and I hope they can provide an answer to me, why they are doing this.

Austin P 01/24/2013

SOLID TRADING MY ASS STAY AWAYYYYYYYY

Have very bad experience with IronFX. Last Friday Jan 18, faced a terrible shock. My stoploss order was triggered but it was executed 54 pips higher than the limit set. Broker refused to refund claiming low market liquidity (happened during NY session). Furthermore they charged the "execution" normal commission. Exchanged a few emails with them unsuccessfully. Stoploss order seems to be treated as decoration to your account only. This has never happened to me in my 16 years carreer as professional trader.

Would strongly discourage you opening account with them.

Greg Sumanski 01/22/2013

SCAM !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have a real account with IRONfx and yesterday i took a position in eur/usd with a TP and SL and when I open back my platform I find out that there was a slippage of 25 pips of course against me, I call them and they said to me that this is the way the platform works and that they will not reverse the problem.
Im studying if i can place a demand on them.

Solid trading my ass, more like thieves trading !!!!!!!!!!!!!!!!!!!!
STAY AWAY !!!!!!!!

Diego 01/07/2013

GO AWAY SCAMMERS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hi there,
I had asked some information to them via chat, their live chat service is terrible, hardly they answered my question in as short as possible, i did not like their attitude and they are not friendly at all. They even did not answer my e-mail.
If you Withdrawal they won't give,they will produce false statements that they where processed the payment and reached your Bank, I can Prove this.If you again again ask for the payment they won't co operate Be aware. They Not only scammers they are THIEVES.
Withdrawal is very slow.
They seem to be looking for something reason could make withdrawal stop.

Essentially they are not regulated with major licenses and in offshore that is not territory of advanced nation.

We should not forget such thing.

Sikandar Hayat 01/07/2013

WORST FX BROKER EVER !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

i lost 8000$ on the first time and it was fine , and then i deposited another 10000$ and lost 650$ and then decided to withdraw the money, ironFX sent me the email below.
Iron fx was stealing money from me.(see below the term and condition )
i dident got my money and as i see it i wont get anything .


16. If IronFX suspects that a Client has abused or attempted to abuse a promotion or otherwise acted with a lack of good faith towards us, then IronFX reserves the right, at its sole discretion, to deny, withhold or withdraw from that user the Welcome Trading Bonus or promotion and if necessary to cancel any terms and conditions with respect to that user, either temporarily or permanently, or terminate that user's access to the service and/or block that user's Account. IronFX reserves the right to modify, change or terminate this offer at any time without the consent of the Client. In addition, if IronFX suspects that a participant has abused the fair rules of the Welcome Trading Bonus by hedging his positions internally (using other trading accounts held with IronFX) or externally (using other trading accounts held with other brokers), then IronFX reserves the right to immediate reverse the granted welcome bonus from the Client’s trading account(s) OR from the winning hedged account without the contest of the Clients.

Gil Dagan 01/07/2013

Keep up the good work..

I like IronFX, and I think this broker has a bright future and big potential for growth and respectful reputation due to their provided services and support. After doing a research on the management, I found that they came from two big brokers (ACM & FxPro) bringing with them the best experience in the market.

-They provide a wide range of instruments in an organized way [wish they add the dollar index].

-Spreads for the premium accounts are competitive.

-Smart promotions.

Nasser 02/13/2012
Forex