image IronFX VISIT IRONFX image Exness VISIT EXNESS image Forex.com VISIT FOREX.COM
About

IronFX is regulated by CySEC. IronFX have provided Forex trading services since 2010.

Exness is regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF. Exness have provided Forex trading services since 2008.

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC and ASIC
  • Yes Over 10 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
Headquarters Limassol, Cyprus Limasol, Cyprus; St. Vincent and the Grenadines London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No No
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 120 103 80
Commodities Offered 0 0 12
Stocks Offered 101 0 220
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes No Yes
Agriculturals No Yes Yes
FTSE Yes No Yes
Dow Jones No No Yes
Dax Yes No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

54.3% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac Yes Yes No
WebTrader Yes Yes Yes
Mirror Trader Yes No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms No No FOREXTrader PRO

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No No Yes
Available Languages

English, Bulgarian, Chinese, French, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Vietnamese, Arabic, Bengali, Urdu, Czech, Farsi, and Slovak

English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish

English, Chinese, and Arabic

See platform & features

73.26% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

54.3% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by IronFX and Exness

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No No
Standard account Yes Yes Yes
ECN Account Yes Yes Yes
Islamic account Yes Yes Yes
Zero spread account Yes No No
VIP account Yes No No
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See account options

54.3% of retail investor accounts lose money when trading CFDs with this provider

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes No Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot Varies
Max trade None 200 Lot 5 million
Min deposit $500 $1 $50

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes No No

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller Yes Yes No
Skrill No No No
Payment processing time Varies 1 business day Varies
Withdrawal processing time Varies 1 business day 1-2 business days
See all funding options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

54.3% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US, JP, SG US, JP, SG BE
Contact email Send Email Send Email Send Email
phone number 44(0) 203 282 7777 357 25 030 959 Yes
Live Chat Yes No Yes
Website www.ironfx.com https://www.exness.com/ http://www.forex.com
Forex Spreads
EUR/USD 1.00 0.10 1.00
GBP/USD 1.00 2.00 1.00
USD/JPY 1.00 3.60 0.90
AUD/USD 0.2 1.2
Cryptocurrency Spreads N/A N/A
View all FX spreads

73.26% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

54.3% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 N/A 250.0
Nasdaq 100 N/A 130.0
Euro Stoxx 50 N/A 4.0
ASX 200
S&P 500 N/A 50.0
FTSE 100 N/A 150.0
Google N/A N/A
Facebook N/A N/A
View all spreads

73.26% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

54.3% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No No
Commission No $10- $30 No
Deposit Fee No Yes No
Withdrawal Fee Varies Yes No
View All Fees

73.26% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

54.3% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from www.ironfx.com. Last updated on 01/07/2019.

All information collected from https://www.exness.com/. Last updated on 01/07/2019.

All information collected from http://www.forex.com. Last updated on 01/07/2019.

Company

Founded in 2010, IronFX is considered to be one of the leading online Forex trading platforms. The first primary benefit of this firm is that more than 60 offices are located around the world and 45 different languages are spoken. IronFX is seen as one of the most versatile Forex portals, arising from the fact that numerous trading platforms are available. These include their own proprietary Web Trader system, the respected Meta Trader 4, A Personal Multiple Account manager (PMAM) and a multiple terminal system for those who wish to oversee several trading accounts within a single screen.

For more information about trading with IronFX, we have put together an indepth IronFX review with all the pros and cons about this broker.

EXNESS was founded in 2008 and have quickly become a global leader in forex brokerage with a monthly trading volume of over 180 billion USD. EXNESS have grown to a leading player in the online brokerage company by providing 0% commission on deposit and withdrawals, tight spreads, no hidden commissions, instant withdrawals and 24/7 technical support in 13 different languages.

By choosing to open an account with EXNESS you will be choosing a brokerage that has access to leading positions in the forex market, free VPS hosting and available on multiple platforms including the universal standard MT4 and MT5. They are a top choice for traders seeking a quality online broker and are opening over 15,000 new accounts every month.

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

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IronFX or Exness?

A wide range of instruments or regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF ?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, IronFX is likely the better option out of these brokers. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider IronFX to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

IronFX is regulated by Financial Conduct Authority, CySEC and ASIC, while Exness is regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF.

As the Financial Conduct Authority are one of the most stringent regulators in the world, IronFX will have very strict guidelines to follow to ensure they protect their retail trader clients.

Forex.com are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

IronFX has been around for 9 years, while Exness have been around for 11 years. Our third alternative broker, Forex.com, have been around for 20 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both IronFX and Exness use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on IronFX or Exness in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both IronFX and Exness are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

IronFX are based in Limassol, Cyprus, while Exness are based in Limasol, Cyprus; St. Vincent and the Grenadines.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both IronFX and Exness offer forex trading. IronFX have a slightly larger variety of currency pairs with 120 pairs, compared to 103 offered by Exness. Also, if you’re looking to trade cryptocurrencies, IronFX offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both IronFX and Exness allow you to trade commodities like gold, silver and crude oil.

IronFX also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both IronFX and Exness offer this. Exness also offer the new & improved MT5 platform. Our alternative broker, Forex.com, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. IronFX, for example, offer a mini account, standard account and VIP account.

For Muslim traders, IronFX offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

IronFX does allow scalping and hedging. While Exness also allows scalping and hedging. You can trade with EAs (expert advisors) on both IronFX and Exness.

In terms of risk management tools, IronFX does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Exness doesn't offer this.

IronFX also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

IronFX accept Neteller while Exness accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, IronFX charges 1.00 points, while Exness charges 0.10 points. Therefore, Exness is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: IronFX or Exness?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, IronFX is more reliable based on our criteria above. IronFX has a wider range of instruments to trade. IronFX offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.