IronFX Review


IronFX is a broker that was established more than a decade ago. It offers CFD and Forex trading as well as access to some of the most popular markets like commodities, indices, shares, and currencies. Hundreds of countries in the world have access to this broker. MetaTrader 4 is the platform they use to provide their services. It has competitive spreads and flexible leverage.

Now, even though IronFX sounds like a promising platform, you cannot fully trust it until you have all the facts about its safety levels. Not to mention that there are a lot of negative reviews online that probably make you doubt that it is safe to trade with this broker. So, what is the truth? This review will tell you everything you need to know about IronFX and reveal whether it is a good broker or not.

Who Is IronFX for?

IronFX is the best platform for social traders and beginner traders.

What is great is that the MetaTrader4 platform they use supports tablet, desktop, and mobile devices. It is very easy to use even by people who are new to the trading world.

Experienced traders will also benefit from this service because the MT4 platform will be familiar to them. It has all the CFD and Forex features needed for trades.

Furthermore, IronFX is great for individuals who are not English speakers and that is because the customer support is available in multiple languages. You can request help in Japanese, Spanish, Arabic, Czech, Chinese, French, Korean, Indonesian, Italian, Dutch, and several others.

Things We Like

We love how easy it is to navigate the IronFX platform. Not only can you navigate the website with ease, but you can also use the MT4 platform without any issues.

Also, we love how customer support can be contacted even if you do not speak English. Since the platform is available in so many countries, it only makes sense you need to make support available in languages that are more accessible for the users. This way, IronFX makes sure that anyone can get the help they need.

Another thing that we like is that there are more than 300 tradable assets. This way, clients have access to a wide range of instruments, and they can diversify their portfolio. They can also trade the instruments they are most interested in.

Besides, people can also use a Mirror Account in order to hedge against possible losses.

Things We Don’t Like

As you can imagine, there are also some downsides to the platform. For example, the research and news sections are quite limited. They don’t offer a lot of updates, which will not allow users to get all the information they need.

Also, we’re not fond of the fact that there is only one trading platform available. Having multiple platforms would’ve increased the functionality of the broker and offered more features and possibilities to traders.

You cannot trade cryptocurrency, and that is not ideal for people who are into this type of trade.

Pros / Cons
  • The fees and spreads are well-documented
  • It has some powerful third-party add-ons
  • The leverage is flexible
  • The research and news sections are limited
  • Cryptocurrency trading is not possible
  • They only have one trading platform

Safety and Regulation

Especially when it comes to safety, there are some things about the platform that you should know.

Who Is IronFX?

IronFX is a CFD and Forex trading broker that started operating in 2010. The broker has more than 300 tradable assets, and they offer access to some of the major markets such as commodities, shares, indices, and currencies. Cryptocurrency CFDs are also something they offer.

Trading is done using the MT4 platform, which is one of the most popular platforms for trading in the entire world. IronFX partnered with some global brands during its operating years, one of them being FC Barcelona.

Is IronFX Regulated?

IronFX is regulated by various authorities. In the EU, IronFX is regulated by the Cyprus Securities and Exchange Commission. Then, in the UK, it is regulated by the Financial Conduct Authority.

Apart from that, the broker is regulated by the Financial Services Board in South Africa and by the Securities and Investments Commission in Australia.

IronFX Licenses

  • Authorized by ASIC (AFSL #417482)
  • Authorized by CySEC (Licence: 125/10)
  • Authorized by Financial Conduct Authority, UK (FRN: 585561)

Is IronFX Safe or a Scam?

On one hand, IronFX is considered safe thanks to the regulations. It is monitored by some top-tier authorities, so it has some level of safety. Client funds are also kept in segregated accounts. Therefore, if the company goes bankrupt, the funds will be safe.

There were some things that happened over the years and created some concerns, though. For instance, CySEC started investigating the broker in 2015, and this ended with a settlement of €335,000 for the broker.

Later, in 2018, CySEC fined the broker €2,000 for the failure of financial submissions. Since then, IronFX has tried to change. It started being more transparent, which was proved through the pillar 3 transparency disclosures that take place every year.

Starting from 2021, IronFX trades under the Notesco Financial Services Limited name. Also, it is now registered in Bermuda.

Countries It Accepts Clients from

IronFX is available in more than 180 countries. People can trade from countries like Thailand, Australia, Germany, Sweden, Norway, the United Kingdom, Saudi Arabia, Qatar and many others.

Meanwhile, clients from Cuba, Syria, Canada, Korea, Sudan, and the United States are not accepted.


Over the years, IronFX gained recognition and won several awards. Some of the awards they won are the Best Broker in CIS 2014, Best Forex Research Reports 2014, Best Broker in Russia 2014, Most Trustworthy Forex Broker 2014, and Best Forex Educators 2015.

Range of Offerings and Products

IronFX excels in terms of products and offerings. People can trade Forex and CFDs. In fact, you can trade over 80 currency pairs. Then, it is also possible to trade metals, more specifically CFDs on silver, gold, and platinum. Indices are available for trading too.

Next, people can trade CFDs on shares, as well as commodities. Some commodities include WTI and natural gas. Lastly, futures trading is allowed too. People can trade in several stock indices, currency pairs, and commodities.

Leverage Offered

The leverage offered by IronFX is pretty flexible. You can use leverage up to 1:1000, which allows traders with less money to take some larger positions. The website also has a margin calculator available, where you can see the leverage you have access to. Using leverage has the potential to increase the possibility of returns, but it also increases the risk of loss.

Trading Platforms

With IronFX, trading is done using MT4. There is a web-based application that you can use, which is great when you don’t want to download any app to your PC. Despite being a browser platform, it is pretty great, and you have access to most of the things you need, especially if you are a beginner.

As for the Desktop platform, it is amazing. It has a Mirror account that is pretty much a hedging tool, and the platform is very reliable. The functionality is great as well, and the Dashboard is updated very frequently, to show the positioning of the clients. At the same time, the MT4 platform is a bit outdated.

The MT4 platform is also available on mobile. While great for trading on the go, the MT4 platform doesn’t have two-factor authentication. It is also quite limited in conditional orders and many other aspects.

Account Types

IronFX has multiple account types available. On one hand, they have live floating/fixed accounts, which include Micro, Premium, VIPO, and Zero Fixed accounts. Then, they have STP/ECN accounts, which include Zero Spread, No Commission, and Absolute Zero accounts.

Demo Account

There is also a demo account available for newcomers.

Deposits and Withdrawals

You can deposit funds either by bank transfer, e-wallets, or credit & debit cards, which is great.

What Is IronFX Minimum Deposit?

The minimum deposit is $100 with IronFX, at least as long as you have a Micro Account. VIP accounts have a minimum deposit of $10,000.


Withdrawals are quite tricky. You can only withdraw profits using the bank transfer option, while initial deposits can be withdrawn with the same method you used for deposits.

IronFX Promotions

IronFX offers a 100% sharing bonus for a minimum deposit of $500, 40% Power Bonus up to $4,000 for a minimum $500 deposit, and 20% Iron Bonus up to $2,000 for a minimum $100 deposit.

Client Support and Education

The research materials are not the best. Information is pretty outdated and this ruins the potential of the platform. The educational videos and five e-book encyclopedias are more decent, though, and can teach beginners a few things about the trading world.

Verdict – Overall Rating

IronFX has a lot of good offers. However, the educational materials are not the best, and there are still some safety concerns that the company should address. As a result, it cannot receive a full rating.


All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.

The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.

What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.

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 at Wikipedia.

All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.

There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.

Looking for more information on brokers and trading? Have a look at our trading guides:

Review Sources


IronFX is the global multi-asset broker, with 10 trading platforms and over 200 tradable instruments in forex, spot metals, futures, shares, spot indices and commodities.

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