For someone who prefers quality execution, vast selection of assets, and competitive fees, they may resort to IronFX. With years of service, this globally-recognized trading broker has garnered awards mainly for its favorable trading conditions. If you take any interest in opening an account with IronFX, opt in reading this detailed review.
IronFX debuted in the market back in 2010. Its main office is located in Cyprus and has expanded its scope to more than 180 countries. In a bid to expand its services using traditional means, it prohibited individuals from China, Russia, and Nigeria from availing its services. In addition to its expansion scheme, it was reported to have partnered with EmurgoHK in developing its own virtual coin exchange. To date, it is known to offer the most diversified instruments for various asset classes such as foreign exchange, cryptocurrencies, commodities, stocks, shares, metals, indices, energies, and contract for difference.
IronFX Legitimacy
Its legitimacy is proven as the platform is registered under the Cyprus Securities and Exchange Commission (CySEC). As mandated by the European Union, it also filed its name under the financial authority of United Kingdom, South Africa, and Australia. These licenses indicate that IronFX has passed industry-standard requirements.
Subscription with IronFX guarantees advantages, allowing clients to maximize the platform for higher margin of profitability. These advantages include ease of use, optimum third-party systems, and clear spreads and funding structure. However, just like other brokerage firms, it has its own share of setbacks. Inadequate research materials and lack of discounts remain to be issues. But regardless of any known downsides, its professional account selection stands as its flagship feature, integrating personalization, branding, and efficiency in one.
Account Types
IronFX likes to keep things simple and straightforward by providing three account types. These fixed-spread accounts work on a tiered-structure, giving clients the opportunity to pick the account that best suits their preferences.
- Micro Account- For a minimum deposit of $100, clients are entitled to a maximum leverage of 1:30. Wide selection of base currencies are available including USD, EURO, GBP, AUD, JPY, CHF, PLN, RUB, HUF, and CZK. Its minimum lot size is 0.01 and is commission-free.
- Premium Account- Apart from its 0.7 spread on EUR/USD pairing, other features bear no difference from the Micro account. One is required to have a minimum deposit of $2,500, a relatively expensive amount given that it does not offer unique features compared to the starter account.
- VIP Account- The only difference this account type offers is its 0.5 spread on EUR/USD pairing. Looking at its other features, it has trading conditions similar to the aforementioned accounts. The minimum deposit of $20,000 is a glaring disadvantage for the client.
In what appears to be uniform accounts, clients may find these setups a concern. As this is the case, they may still open the so-called “corporate and institutional accounts.” These accounts offer floating spreads and provide strong customer support including a portfolio manager.
IronFX Platforms
IronFX’s years of service and experience allowed it to provide authoritative, optimum and multifunctional systems. Its platforms are wired from considerations including ease of use, smoothness, efficiency, and satisfaction. This brokerage firm became popular through its “one account, ten platform” structure. As the phrase suggests, this kind of trading setup enables clients to trade using one account across ten platforms. With this, trading management is made more convenient.
Clients are equipped with cutting-edge technology on the well-designed MetaTrader 4, Personal Multi-Account Manager, MultiTerminal, and Web-based social trading platforms. These platforms grant several features including:
- Sleek interface
- Vast timeframe selection
- Advanced charting tools and indicators
- Stream of real-time financial news
- Market watch window
- Automated trading
Deposit and Withdrawal
Making things more efficient for traders, IronFX provides different types of funding methods. Online and automated means are faster such as credit and debit cards, and electronic wallets. Note that this broker requires transaction charges and the amount purely depends on the method one will use. More so, bank transfers may take few working days to reflect.
Opening an account is fiat-based. Great selection of fiat currencies may be used such as USD, EUR, GBP, AUD, JPY, and CZK. This came as an advantage since currency conversion does not work in select accounts.
Conclusion
Speaking of how established IronFX is, we can all agree that it is of solid reputation. Diversified asset classes, sleek interface, and trader-friendly charges compensate the uniformity of its accounts. More so, its technology secures profitability and convenience. With this, larger margin of profits await clients, so make sure to open your very own IronFX account today.