IronFX Fees, Spreads and Commissions Reviewed ️ 2024

There is also a dedicated FAQ section on the website for more general queries, such as how to set up a trading account. The agents are generally knowledgeable though they seem to struggle when communicating more complex information in English. In my experience, the charts screen is probably the most important component of every platform. It is the window through which traders can observe price action behavior and understand where the market might be headed next. Round-turn commission, meaning ironfx minimum deposit that a trader’s costs will remain constant regardless of the underlying market sentiment.

IronFX Floating/Fixed Spread Accounts

I checked the usability of IronFX’s seven retail account types and found them quite diverse, with hugely varying pricing mechanisms. Generally, the accounts are suitable for beginners and advanced traders. Each account type supports swap-free trading via https://forexarena.net/ IronFX’s Islamic accounts.

IronFX Review

You have to scroll through the entire list of available instruments in order to find the asset you are looking for, which I find tedious and unnecessary. You have your watchlists, indicators, and other tools on the left side of the window, a chart screen on the right, and account info at the bottom. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

Trading Hours

Try our exclusive STP Zero Spread account and enjoy spreads as low as 0 pips. An FX withdrawal takes between one and ten business days, dependent on the payment processors and the geographic location of traders. IronFX received numerous awards for various aspects of its competitive trading environment.

1. You can also register multiple trading accounts in our Client Portal when you first sign up.
2. In general, IronFX’s offering is slightly more competitive than the industry average.
3. All BrokerNotes content is researched, fact-checked, and edited by the research team.
4. The blog is where you can access more articles and opinion pieces to get a broader perspective on what is driving the market.

Trade with a Regulated Broker

The account was opened with the Notesco Limited entity of the broker. If you have experience trading with IronFX please share your personal review of the broker and what you think are strong and weak points. Tempting trading conditionsHowever, my attention to IronFx was captivated by its outstanding reputation with traders. Trading according to the market analysis has really helped me increase my profit, for sure IronFX is really the main deal!! Compare the markets and instruments offered by IronFX and its competitors.

IronFX operates through three entities, with two regulated by the FCA in the UK and the FSCA, and one entity remains unregulated. I found the broker to be generally transparent, with information about fees easily accessible on their website. IronFX also offers an economic calendar while a VPS is available for $30 per month or with a minimum deposit of $5,000. Mobile users benefit from total trade management without having to sacrifice functionality.

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. There is a very high degree of risk involved in trading securities.

The mobile offering also comes with the IronFX Research app which gives users an overview of the financial markets and major news events. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity. Armed with account login details, you will get straightforward order execution, with instant execution and pending orders available. MT4 promises advanced charts with nine timeframes, over 30 built-in technical indicators, real-time news, plus automated trading capabilities. The MT4 platform can also be upgraded through MetaTrader’s Market and Signals, where users can buy technical indicators, add-ons, and signals for copy trading.

Certain features, such as the one-click trading option and depth of market tool, enhance the platform’s overall performance. They allow traders to easily examine the current market behavior and enter into trades quickly. Automated trading is possible via MetaTrader’s Expert Advisors (EAs) feature. IronFX provides Virtual Private Server (VPS) hosting to ensure better connection and faster execution for algo trading.

Today, the company employs more than 450 people and has created a solid reputation as a trusted and reliable broker. Its 200+ instruments and multiple platforms are accessible in 180+ countries with 50,000+ retail traders worldwide. Overall, Trading with IronFX will involve fees from $100 USD, spreads from 1.6 pips, and commission-free trading depending on the account traders select.

The primary difference between live floating/live fixed trading accounts and the ECN/STP model is market execution. Real accounts use instant execution with re-quotes, whereas STP/ECN accounts use market execution, so no re-quotes are involved. Traders can choose between floating/fixed spread Standard, Premium, and VIP accounts. Alternatively, the Live Zero Fixed Spread account comes with zero spreads, but traders will have to pay a commission. When deciding on which account type to choose, you should consider a number of factors, including the product(s) you wish to trade, the trading conditions, and execution type. You should also think about researching what the platform itself has to offer.

Traders have eight account options at IronFX, where the minimum deposit is $0 for most. The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.

For the former, there is a $18 round-turn commission per traded lot (100,000 units), whereas the latter has a $10 round-turn commission per traded lot. The broker entity does have comparatively high maximum leverage, but selecting a multiplier is up to the trader. Less experienced traders do not have to go for the maximum and can instead choose a lot more comfortable leverage.