After conducting some research on various social media platforms , as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with IronFX. Based on this user feedback, it appears that IronFX is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.

IronFX scam

IronFX offers four instant execution accounts and three market execution accounts, with various spread/commission combinations. To make matters more complicated, traders can choose between fixed or floating spreads on the instant execution accounts.

Overall Conclusion – A brilliant, well-rounded trading platform

They also have deposit insurance, ensuring that you state your name and provide legal documents, as well as direct deposit funds through a registered source to ensure it’s a legitimate deposit. IronFX does not charge anyone for setting up an account, or for any kind of deposit. You may want to boost your current trade with a commodity, by adding another $100. Or, maybe you’ve reached a peak on your forex trade, and you want to sell and withdraw so you can reap the rewards quickly. Well, IronFX have you covered, because they make everything as hassle-free as you’d wish it to be.

How long does it take to withdraw money from IronFX?

Deposits are free on all funding methods and are processed within 24 hours, which is around the industry average. However, it takes 48 hours on average for IronFX to process withdrawals, which is longer than most other brokers.

You may be confident that your system and transactions are always safeguarded and transmitted as rapidly as possible, eliminating delays and slippage. Join us and take advantage of our free VPS hosting, which is provided to guarantee that you get the most out of your trading with us. The scheme protects up to £85,000 per eligible person per regulated entity. In the IronFX platform, you can take advantage of strong liquidity and reliable execution to trade some of the most well-known and liquid shares.

Research and Analysis

So, as is generally our advice, we would advise anyone considering IronFX to start small with investments. Better still, begin your experience with a demo account before you decide to invest large sums of money. We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IronFX offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker. IronFX’s range of financial instruments to trade is limited compared to most other brokers, but it offers over 80 Forex pairs.

Personally, I was not very impressed by trading with IronFX. Yes, the brokerage has very profitable and interesting trading conditions, but there is still a lot to work on. Therefore, even if you don’t have the platform installed on your PC, you can access it from the MT4 web trader. Moreover, the web trader has most of the functions that are present in the MT4 software. While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.

If you’re an experienced and successful trader, you can join IronFx TradeCopier as a Provider. You don’t need to watch your automated transactions if you use a VPS because they can be executed even if your computer is switched off. VPS hosting from IronFX gives you the speed and security you need to trade Forex and CFDs with confidence.

👮‍♂️👮🏽‍♀️ Are there regulatory actions against IronFx?

Compared to other similar brokers, IronFX’s account opening process is fast, generally hassle-free, and fully digital. The third step requires depositing money through the client portal. Overall, because of its strong regulation with some of the best international, a long history of responsible behaviour, and wide industry acclaim, IronFX is considered a safe broker to trade with. Please do not deposit or trade with this broker any more as you are just inviting trouble. IronFX is not a scam, but it deployed questionable behavior, as outlined by the Australian regulator ASIC, which no longer regulates this broker.

IronFX scam

Also, there are many videos and tutorials available on the web in case you have questions about certain features of the app. Market order, which is used to buy or sell the instrument at the current marketplace.

IronFX Broker Review

This order is used when a trader wants to establish a position as fast as possible. Typically, this order is necessary when the instrument’s price begins to move quickly. The main risk of this order is that you pay a spread, which is the difference between the bid price and the ask price. Available time frames include 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, and monthly. Some platforms offer a wider range of timeframes, but the number of timeframes provided by MT4 is more than sufficient for practical purposes.

IronFX offers its traders MT4 Mobile trading optionsfor both iOS and Android. With smartphones, forex traders no longer need to be tied up to their desks, spending hours watching their trading screens. Instead, they can monitor the markets through their mobiles whenever they are. Mobile trading with MT4 allows you to have complete control over a trading account and trade from anywhere 24/5. IronFX has several account types from the fixed spread, floating spread, and ECN. In the floating spread account, the minimum spread found was 0.4 is EURUSD.

IronFX scam

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. The number of available forex pairs is high, so traders interested in this segment should take a closer look at what IronFX has to offer. CFDs are financial instruments that allow limefx company reviews traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. This selection of options is more than sufficient enough for mobile-based trading. Typically, the mobile app is used when the trader does not have access to the desktop platform but needs to monitor the market and open positions.

The minimum deposit is $100, and the company is offering a welcome bonus – doubling clients’ initial deposit. Accepted payment methods are not very transparent on the company’s website, since you need to open an account to see methods available in your country.

Is IronFX regulated in South Africa?

Yes, IronFx is regulated as NOTESCO SA (PTY) LTD with South African regulator FSCA with FSP number 45276. Moreover they are also regulated with ASIC, CySEC, FCA.

That requirement can usually be satisfied by sending a copy of the trader’s ID and one proof of residency document. IronFX offers VPS hosting to support automated trading solutions, free of charge for accounts above $5,000.

This broker also has brands in the UK, South Africa, and Australia. Broker regulation is coming from 4 regulatory bodies – CySEC, FCA, FSB, and Asic.