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IronFX Review 2024

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

May 31, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IronFX, founded in 2010, offers a range of forex and CFD trading options. With an average recommendation, it provides essential trading tools and a variety of tradeable instruments but does not stand out significantly from its competitors.

Overall Rating

7.2 / 10

Minimum Deposit

$50

Trust Score info

Trusted

Pros and Cons

thumb_up_off_alt Pros

Copy trading available: IronFX supports social copy trading via its proprietary TradeCopier platform, enabling less experienced traders to mimic the trades of seasoned professionals.
MetaTrader 4 platform: Offers the widely-used MetaTrader 4 platform.
Regulated by multiple tier-1 authorities: It is regulated by ASIC, MiFID, and the FCA, enhancing its credibility.

thumb_down_off_alt Cons

No MetaTrader 5: Does not offer MetaTrader 5, limiting options for those who prefer the newer platform.
Limited advanced educational resources: Does not offer advanced education videos, which might be a disadvantage for traders seeking in-depth learning.
Average spread cost: The EUR/USD spread is 1.2, which is higher than the industry average of 1.08.

Ratings Summary

Investment Types - 6.5/10
Commissions & Fees - 7.5/10
Trading platforms - 6.5/10
Research - 7.5/10
Mobile Apps - 6.5/10
Education - 6.5/10
Overall - 7.2/10

Can I trust IronFX?

IronFX is regulated by several reputable authorities, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, and operates under MiFID regulations in the EU. IronFX holds a "Trusted" rating with a trust score of 83 according to ForexBrokers.com, indicating a reliable level of trustworthiness in the industry.

IronFX is currently licensed and/or authorised by the following regulatory bodies:

Tier-1 Regulators - Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system
Tier-2 Regulators - None
Tier-3 Regulators - None
Tier-4 Regulators - Bermuda Monetary Authority (BMA)

Is IronFX good for beginners?

IronFX is a reasonable choice for beginners. It offers beginner education videos and general education on forex and CFDs. However, it lacks advanced education resources. Based on its rating for education and beginners, it provides an average educational experience.

Feature	IronFX
Education (Forex or CFDs) info	Yes
Client Webinars info	No
Videos - Beginner Trading Videos info	Yes
Videos - Advanced Trading Videos info	No
Investor Dictionary (Glossary) info	Yes

IronFX commissions and fees summary

IronFX has a mixed offering when it comes to commissions and fees. The broker charges an inactivity fee and requires a minimum deposit, but it also offers discounts for active traders. The average spread cost for the EUR/USD pair is 1.2, slightly above the industry average of 1.08. With an average rating for commissions and fees, IronFX provides a standard cost structure without significant advantages.

Feature	IronFX
Minimum Deposit info	$50
Average Spread EUR/USD - Mini info	1.2
Average Spread EUR/USD - Standard info	1.2
All-in Cost EUR/USD - Active info	N/A
Active Trader or VIP Discounts info	Yes

IronFX trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

IronFX provides an average selection of trading platforms and tools. It supports the MetaTrader 4 platform but does not offer MetaTrader 5 or a proprietary trading platform other than its copy trading app, TradeCopier. Its platforms and tools receive an average recommendation.

Trading platforms offered: MetaTrader 4 only.

Trading tools: Standard tools, including trading signals, but lacks proprietary options.

Copy trading: IronFX supports copy trading, allowing users to follow and copy the trades of experienced traders through its proprietary social copy platform TradeCopier.

Feature	IronFX
Virtual Trading (Demo) info	Yes
Proprietary Platform info	No
Desktop Platform (Windows) info	Yes
Web Platform info	Yes
MetaTrader 4 (MT4) info	Yes
MetaTrader 5 (MT5) info	No
DupliTrade info	No

Mobile trading apps at IronFX

IronFX offers a mobile trading app with an average rating. While it provides essential functionalities for trading on the go, it does not excel in this area compared to its competitors.

Feature	IronFX
Android App info	Yes
Apple iOS App info	Yes
Mobile Economic Calendar info	Yes
Mobile Alerts - Basic Fields info	Yes
Mobile Charting - Draw Trendlines info	Yes
Mobile Watchlist info	Yes

How do I open an account with IronFX?

Visit the IronFX website.
Click on "Register" to start the application process.
Fill out the registration form with personal information.
Submit identification documents for verification.
Fund your account using the preferred payment method.
Start trading once the account is verified and funded.

What can I trade at IronFX?

IronFX offers 83 forex pairs and 340 tradeable symbols, providing a decent range of trading options. However, its total tradeable symbols are far below the industry average of 3,623.

Feature	IronFX
Tradeable Symbols (Total) info	340
Forex Pairs (Total) info	83
Social Trading / Copy Trading info	Yes
Cryptocurrency (Physical) info	No
Cryptocurrency (Derivative) info	Yes
Spread Betting info	No

Account funding at IronFX

IronFX supports various funding methods, including bank wires, Neteller, Skrill, and credit cards. However, it does not support PayPal.

Feature	IronFX
Visa/Mastercard (Credit/Debit) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes
PayPal (Deposit/Withdraw) info	No
Skrill (Deposit/Withdraw) info	Yes
Neteller (Deposit/Withdraw) info	Yes

About IronFX

IronFX, founded in 2010, is a forex and CFD broker regulated by multiple authorities, including ASIC, FCA, and under MiFID regulations. While it offers a variety of trading instruments and platforms, its overall offerings and ratings are average in the competitive forex market.

Compare IronFX

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.