IronFX Review

IronFX is a global forex and CFDs broker that was established in 2010. IronFX is the trading name of Notesco Limited, a registered, licensed and regulated company based in Bermuda. The broker provides access to six financial assets on the MT4 trading platform, including forex, metals, indices, commodities, futures and shares. Clients have a choice of four primary trading accounts, including three accounts with live floating spreads and one with zero fixed spreads. IronFX is regulatory compliant and is a safe and reliable broker for forex traders in Africa.

Overall Rating

4.5/5

Rated #187 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, FSCA, CySEC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Is IronFX regulated?

IronFX is a trading name of Notesco Limited, a holding company licensed and regulated by four leading authorities: the FCA in the United Kingdom, ASIC in Australia, CySEC in Cyprus and FSCA in South Africa.

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FCA: Financial Conduct Authority

The Financial Conduct Authority (FCA) is responsible for regulating the financial services industry in the United Kingdom. It is an independent entity and regulates over 58 000 businesses across the UK. Many of these companies are governed by the Prudential Regulation Authority (PRA), responsible for safety and risk control within the financial services sector. The FCA is widely regarded as the leading monetary regulatory authority in the world.

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ASIC: Australian Securities and Investments Commission

International Capital Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Australian Financial Services. The ASIC is a self-governing commission of the Australian Government. ASIC is the national corporate regulator of the financial sector in Australia and mandated to standardise company and financial services and apply laws to safeguard traders, investors and banking customers in Australia.

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The Cyprus Securities and Exchange Commission (CySEC) is an autonomous regulatory authority in Cyprus responsible for monitoring and directing fair practice in the investment services market and transactions in convertible security transactions in the Republic of Cyprus and the mutual investment and asset management sector.

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FSCA: Financial Sector Conduct Authority, South Africa

The Financial Sector Conduct Authority (FSCA) is responsible for market conduct regulation and supervision in South Africa. The FSCA aims to enhance and support financial markets’ efficiency and integrity and protect financial customers by monitoring treatment by financial institutions.

Is IronFX regulated in South Africa?

IronFX is a trading name of Notesco SA (Pty) Limited. The brokerage is regulated in South Africa by the Financial Sector Conduct Authority (FSCA) under license number 45276. IronFX is authorised to provide services for forex and CFDs under the country’s financial laws.

Is IronFX legit?

Yes, IronFX is a legitimate forex and CFDs broker and electronic trading platform. The global broker was established in 2010 and trades under Notesco Limited, a holding company registered in Bermuda and licensed and regulated by four leading authorities. IronFX is known for its transparent pricing, flexible trading accounts, competitive spreads and fast execution. IronFX is suitable for beginner and intermediate retail traders and is a safe and reliable broker for forex traders in Africa.

What type of broker is IronFX?

IronFX is a hybrid Direct Market Access (DMA) and Non-Dealing Desk (NDD) broker and offers accounts with live floating spreads, and a Straight Through Processing (STP) and Electronic Communications Network (ECN) account with zero fixed spreads.

Is IronFX a good broker?

IronFX provides a satisfactory trading environment for beginner and intermediate forex and CFDs traders in terms of security, advanced trading platforms, and trading education. The company is regulatory compliant and is a safe and reliable broker for forex traders in Africa.

IronFX security

IronFX is regulatory compliant and regarded as safe to use by forex traders in Africa. IronFX follows strict regulatory guidelines for trader and investor protection and has implemented industry protocol to secure their clients’ money and information.

Regulated broker

IronFX is a trading name for Notesco Limited, a registered company based in Bermuda and licensed and regulated by four leading authorities.

Segregated accounts

IronFX keeps client funds in a separate account which a leading bank holds. The forex broker cannot access clients’ funds to pay for company expenses or liabilities. The funds are held in ring-fenced accounts separate from IronFX’s financial accounts.

SSL-protected personal area

IronFX uses highly secure technology to protect its clients’ data and financial transactions. SSL-secured Personal Area is protected with 128-bit encryption, making browsing safe and data inaccessible to any third parties.

Negative Balance Protection

IronFX provides Negative Balance Protection for its clients. IronFX will automatically top up the balance to 0, and clients don’t pay anything if market volatility prevents them from keeping a positive balance on their trading account.

Two-step authentication

IronFX requires two-step authentication to enhance your trading platform’s security and protect your deposits and personal information from hackers using SMS and backup codes. IronFX uses 3D secure technology when processing credit and debit cards. This technology makes all Visa transactions transparent and safe.

Know Your Customer (KYC) checks

IronFX is required by law to collect and verify certain personal information and execute Know Your Customer (KYC) checks.

IronFX trading platforms

IronFX is a MetaTrader broker and offers the MetaTrader 4 (MT4) trading platform to trade six financial classes.

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MetaTrader 4

MetaTrader is a pioneer electronic trading platform developed by MetaQuotes Software. Since 2002, MetaQuotes Software has released several software applications for trading, but the company hit the jackpot with MT4. MT4 is the most popular and widely-used electronic trading platform for retail foreign exchange (forex) speculative traders.

IronFX research and education

IronFX publishes up-to-date financial news and practical guides on trading forex and CFDs on the MT4 trading platform. The scope of research and educational material provided by the IronFX School is suitable for beginner and intermediate forex traders.

Market analysis

Trading Central, Financial News, Economic Calendar

Education

Trading guides for beginners and professionals, video tutorials

What products does IronFX offer?

IronFX is a multi-asset forex and CFDs broker. Clients use the MT4 trading platform to trade currency pairs and CFDs on metals, indices, commodities, futures and shares with live floating spread accounts or a STP/ECN zero fixed spreads account.

Forex

Trade major and minor currency pairs

Metals

CFDs on spot metals inc. silver, gold, platinum and palladium

Indices

CFDs on equity indices inc. UK100, JPY225, AUS200

Commodities

CFDs on spot commodities inc. WTI, Brent crude oil, natural gas

Futures

CFDs on futures inc. US100/500, UK100, AUS200

Shares

CFDs on shares inc. Apple, Amazon, Facebook

Does IronFX offer social/copy trading?

Yes, IronFX offers AutoTrade Platform for copy trading. The copy trading app allows traders to copy signals or mirror trading strategies and learn trading techniques from expert traders, and experience the forex and CFDs trading environment in real-time.

Does IronFX have Nasdaq?

Yes, IronFX offers NASDAQ-100 (US100). US100 is traded as a futures CFD on the MT4 trading platform. The US100 assigns a capitalisation-weighted index containing 100 of the largest publicly traded non-financial businesses on the Nasdaq composite index. The US100 is one of the most significant large-cap growth indexes in the world.

How to trade forex with IronFX

Traders and investors cannot directly access the global forex market. They must trade through a trading platform hosted by a regulated forex and CFDs broker.

To start trading the financial markets with IronFX, you must register with the broker and follow the easy steps to verify your identity and set up a trading account. Deposit funds when your trading account has been approved and start trading.

How to open an IronFX trading account

  1. Open the official website for IronFX
  2. Select REGISTER
  3. Provide personal information to verify your identity
  4. Select a trading platform
  5. Go to Client Portal to deposit funds into your trading account
  6. Start trading with IronFX when your account has been verified and opened

What trading accounts does IronFX offer?

IronFX offers three trading accounts with live floating spreads and one STP/ECN account with zero fixed spreads. IronFX also provides a free demo account and swap-free Islamic account.

Live Floating Spread accounts

Standard

Spread

Leverage

Commission

From 1.8 pips

1000:1

Zero

Premium

Spread

Leverage

Commission

From 1.6 pips

1000:1

Zero

VIP

Spread

Leverage

Commission

From 1.4 pips

1000:1

Zero

Zero Fixed Spread account

STP/ECN

Spread

Leverage

Commission

Zero

500:1

Lowest: $18 lot on EUR/USD

Highest: $43 lot on GBP/JPY

Does IronFX offer a free demo account?

Yes, IronFX offers a free demo account on the MT4 trading platforms. IronFX clients can register and sign up for a free demo account which is instantly available to start trading virtual (fake) money. You can trade forex in real-time under actual market conditions but with zero risks of losing real money. Once beginner traders learn how to trade on a free demo account, they are ready to open a live trading account.

Does IronFX offer an Islamic account?

Yes, IronFX offers an Islamic swap-free live account to clients of the Muslim faith under Shariah Law.

Deposits and withdrawals

How to deposit money into an IronFX trading account

  • Log in to the Client Portal
  • Click on Deposit Funds
  • Choose the payment system you would like to use
  • Enter the amount you want to deposit
  • Click Continue
  • Fill in other information if required and click Confirm

Does IronFX charge a deposit fee?

No, IronFX does not charge a deposit fee for bank transfers and credit/debit cards. Your bank may charge you additional fees for bank transfers. IronFX does not cover any fees charged if you deposit funds in a currency different from the base currency of your account.

How to withdraw money from an IronFX account

You can only withdraw funds from your IronFX account using bank wire transfers. You receive your minimum deposit via the payment method initially used, and profits are electronically transferred to your bank account. You need to apply for a bank withdrawal from your client portal for the above to take effect.

  • Log in to your Client Portal
  • Choose the account you want to withdraw funds from
  • Apply for a bank withdrawal
  • Enter the amount you would like to withdraw
  • Fill in other information if required
  • Click Request
  • Check the withdrawal amount is correct
  • Click Confirm to send your request to the financial department to be processed

How many days do IronFX withdrawals take?

All withdrawal requests from IronFX accounts are processed within 1 to 3 hours during the working week. IronFX will notify you by email as soon as your request is processed. Due to the anti-money laundering protocol, it can take 5 to 7 days to reflect in your bank account.

What does IronFX charge to withdrawal funds?

IronFX does not charge its clients any fees for withdrawals. Your bank may charge you additional fees for monetary transfers.

IronFX commission and spreads

IronFX commission and spreads depend on the type of account you choose.

Standard

Live floating spreads from 1.8 pips

Commission-free trading; mark up on spreads

Premium

Live floating spreads from 1.6 pips

Commission-free trading; mark up on spreads

VIP

Live floating spreads from 1.4 pips

Commission-free trading; mark up on spreads

STP/ECN

Zero fixed spreads

Commission-based trading

Lowest: $18 lot on EUR/USD

Highest: $43 lot on GBP/JPY

What awards has IronFX received?

IronFX is an award-winning forex and CFDs broker and trading platform. See recent accolades here.

FAQs: IronFX

Does IronFX have a Welcome Bonus?

Yes, IronFX offers a Welcome Bonus in the form of a 100% Unlimited Sharing Bonus. IronFX does not offer the IronFX bonus to every client; you need to apply for it.

IronFX offers several trading competitions throughout the year, allowing clients to boost their profits or win prizes. One of IronFX’s most popular annual competitions is the Iron Worlds Championship Prize Pool.

Can I start trading with no money in my live IronFX account?

No, IronFX requires an initial deposit of 100 USD for the MT4 live trading accounts. You can only trade with no minimum deposit on an IronFX demo account.

What leverage does IronFX offer?

IronFX offers maximum leverage up to 1000:1 on the Live Floating Spreads trading accounts and 500:1 on the STP/ECN Zero Fixed Spreads account.

Does IronFX have a mobile app for forex trading?

Yes, IronFX offers an easy-to-use mobile app for the MT4 trading platforms. The IronFX AutoTrade platform is available on a mobile app.

Does IronFX publish an Economic Calendar?

Yes, IronFX publishes an Economic Calendar.

Where is IronFX based?

IronFX is based in Hamilton, Bermuda.

Who is the CEO of IronFX?

The CEO of IronFX is Markos Kashiouris (2010–).

Does IronFX offer online support?

Yes, IronFX offers multi-lingual online Customer Support, available 24/7 (Monday to Sunday) via Live Chat on their website. You can also contact IronFX Customer Services via email or telephone.

Who can I speak to at IronFX for help?

IronFX provides dedicated 27/5 Customer Service supported by Live Chat, email or telephone.

Live Chat IronFX

24/5 support +44(0) 203 282 7777

Email support@IronFX.com

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.

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