You may trade currency pairs, CFDs, commodities, indices, futures, shares, gold, silver, and oil with IronFX, an online forex broker. In 2010, the broker first opened for business. Bermuda-based Notesco Ltd is the parent corporation of the IronFX brand. This beginner-friendly IronFx review has all the information you want.
Clients of IronFX may trade CFDs on currency pairs, commodities, spot metals, spot indices, futures, and shares, among other asset classes. The online broker provides various services, including a blog, research materials, teaching resources, and trading platforms.
Each trader at IronFX has an account on the company’s AutoTrade social trading platform. The Iron Worlds Championship is a trading competition with a million-dollar prize pool hosted by the broker.
You can trade 300 products across six asset classes at IronFX, which has over 1.2 million clients in 180 countries. IronFX provides around-the-clock, seven-day-a-week service in 45 languages.
IronFx is a Trading Platform Serving Multiple Markets
AutoTrade is a copy trading tool for social traders, and IronFX customers may trade across various markets over an Electronic Communications Network (ECN). IronFX is a great option for novice traders because of its many educational resources.
The Benefits and Features of IronFx
IronFX also offers several advantages to new traders, including a live trading competition and bonuses on first deposits (bonuses cannot be withdrawn). They have an affiliate program that will reward you for promoting their online brokerage if you decide to launch your own.
For new traders from outside the European Economic Area, IronFX offers a $35 no-deposit incentive that may be withdrawn upon registration. Traders who open a live account with the broker are eligible for this free bonus. This benefit requires absolutely no initial investment on your part.
Expense of IronFX
Spreads are how IronFX earns its money. However, other fees may be involved depending on the asset and account type you choose.
The minimum dealing spread in foreign exchange may be anywhere from 0.7 pips (U.S. dollar) to 400 pips (European Union euro vs. Czech koruna), depending on the currency pair.
Among metals, the smallest spreads to trade at are 0.04 for spot silver against the euro (XAG/EUR) and 4.5 for XPD/USD, respectively (spot palladium vs. U.S. dollar). Spreads for spot gold against the U.S. dollar (XAU/USD) typically start around 0.5.
Spreads for various indices range from as little as two points for the US30Cash index to 4,500 points for the UK250Cash index.
The spread for a cotton futures contract is $0.04. For a currency pair, it is $2. And for the ASX SPI 200 index, it is $20.
Trading shares incur several costs, the first of which is a 10% charge on the amount of margin you draw down. The broker’s standard fees include a 0.10 percent commission on the total dollar value of the shares traded, a minimum dealing spread of 0.03 for certain U.S. shares, and as high as 400 for Czech Republic shares.
Always remember that the spreads mentioned above are assumed to apply under typical market circumstances. In volatile or rapidly evolving marketplaces, spaces might take on more significance.
How Simple Is It To Use IronFx?
IronFX supports the MT4 trading platforms, which can be accessed from any web-enabled device, including desktops, tablets, and mobile phones. New traders will have no trouble picking up the ropes on this high-tech platform, while veterans of the FX and CFD markets will find it familiar and straightforward. The MT4 trading platform is also accessible through a web browser.
The broker also provides each of its affiliates, professionals, and investment portfolio managers access to a dedicated multi-account manager (PMAM). The virtual private server (VPN) offered by IronFX improves client connections’ speed, uptime, and security.
Although IronFX employs industry-standard encryption to protect customer information, the platform requires a single-use password when using MT4 anxnr .
IronFX provides significant initial deposit incentives. However, it offers a withdrawable no deposit bonus. In addition, fees for most services are somewhat more than at competing large forex brokers or around the same. Suppose your account is compromised or your stop-loss order is filled during periods of extreme market volatility. In that case, you may have difficulties due to the absence of 2-factor authentication on the platform and guaranteed stop-loss orders.