The forex broker IronFX is based in Cyprus and is an international provider who can score with an interesting accounts offer as our IronFX test shows. Many brokers offer their clients either ECN, a STP, or sometimes a market-making concept. If IronFX are two of the concepts available and the customer has the option to choose between market making and STP. The headquarters of the company in Cyprus makes it necessary that the regulation on the Cyprus Securities and Exchange Commission, abbreviated CySEC works.
In our IronFX test is clear at first glance that it is not at IronFX a classic broker, but a model that would provide a versatile range available especially for customers. In addition to various models accounts the broker can score well with a variety of underlying assets. The structure of the website is clear at first glance and our IronFX experiences make it clear that even beginners can easily be find their way here.
The strengths and weaknesses of IronFX
- + Two different market models are available
- + Over 200 tradable underlying assets currently in the program
- + Excellent customer support
- + Low minimum deposit required — especially good for beginners
1. Seat and regulation — with Cyprus in the background
Cyprus is and remains for many brokers, the first choice when it comes to choose a location for the headquarters. As ourIronFX experience shows, it is no different for this broker. By regulating over the CySEC Cyprus lost as headquarters for many customers and dealers the horrors now, however. Also IronFX submits to regulation by the Authority and therefore has permission to act internationally.
As regards data protection, it keeps IronFX like most online brokers and promises its customers no disclosure of data to third parties, as shown by our IronFX experience. Nevertheless, it is necessary that an account opening personal details are made available. This is also true for financial information. IronFX is subject to the requirement to publish public authorities on detecting customer data when they have a clear justification. In addition, indicates the broker to disclose the customer data within the company and to use both for the account maintenance as well as for the notification of new features or special offers. Who would not want that can clearly indicate that he has no interest in advertising or offer overviews. Good to know: The client funds are kept separate from the deposits of the company.
- Regulation by the financial authority CySEC
- Headquarters are located in Cyprus
2. The IronFX test: to move forward with the MetaTrader 5
The trading platform is the first point of contact and thus a reason to decide for or against a broker for you as a user. If IronFX you can look forward to a true classic, as has our experience with IronFX shown. For disposal of MetaTrader is 4. This trading platform is very often used by brokers and yet rather by customers. So it provides a good overview of the tradable markets, can be automated and the Internet, there are several indicators and custom settings for the software. In addition, IronFX has still a highlight that should please especially experienced traders. So the trading platform MetaTrader 5 can be availed. Who would like to act on the road, can benefit from the IronFX app, available for iOS, Android and BlackBerry.
- Various trading platforms with a clear structure
- Variety of underlyings and two different trading models, you can choose between them
3. The IronFX experiences show: Large Accounts selection
When selecting new customers accounts will be spoiled for choice here is reflected in the IronFX test a variety of ways. It can be selected to be equal between multiple trading accounts. There are special models that are tailored especially to beginners, but also accounts that provide an excellent basis for a Senior Trader.
The Micro account is ideal bound for private investors and a minimum deposit of 500 Euro. There are nine different currencies to choose from. Here are both fixed and variable spreads to choose from, starting from a size of 2.1 pips. The use of different trading platforms is possible with the account.
The premium account is already one step higher placed and suitable for those who do not enter for the first time on the market, but have perhaps not made any professional experience. Here at least 2500 Euro are required as a deposit. There is an account manager as well as fixed and variable spreads starting from 1.6 pips.
The VIP trading account is finally the offer for those professionals who do not want to hesitate long. With a deposit of $ 25,000 can be started. With 1.4 pips spreads are particularly favorable here. Please note that the VIP account is only with dollars.
Particularly interesting is the Zero Fixed Spread Account, in which the spread starts from 0 pips and the fees of the broker through the Commission levied.
Our experience with IronFX show that the deposit will be converted very quickly here. It can be effected in various ways. Credit cards are also accepted as bank transfer, Moneybookers and Neteller and WebMoney and Qiwi. OKPAY and MOTO are also available. The diversity of deposit options ensures a positive opinion about IronFX.
Withdrawal options at IronFX
Would you like to make a withdrawal, it will be executed according legitimacy to the bank account or the deposited credit card. It is not possible to arrange for the payment to an account other than the deposited.
- Different accounts for different needs exist
- Payment can be made in various ways
4. Extensive customer and Bonus without support
For problems that can occur repeatedly, there are various ways to accommodate with IronFX contact. The live chat is your first point of contact, as direct responses to usually expect in German or English, are. Also phone numbers for different languages as well as a contact by e-mail are available.
Compared to other providers of IronFX Bonus may be a bit reluctant, but can especially new customers here points directly. You get credited 25 Euros, which first trades can be carried out. In addition, there are always different bonus types that can be taken only within a limited time to complete but.
- Customer is at IronFX quickly in various ways and easily
- The new customer bonus of 25 euros can be converted directly into trades
5. That is why education is not neglected at IronFX
Education is the online broker is a particularly important part and a task that is taken seriously. This allows customers to find their way on the platform and enter directly into the trade, there is the Academy. In the Academy are training videos and a glossary with comprehensible term explanations. In addition, even webinars offered. Even seminars are at IronFX to choose from, as our test of IronFX shows.
For beginners a demo account is an important point, which is not to be ignored. In the test, it is clear that probably IronFX this, and one therefore offers a demo account that is not time-limited.Customers can test new strategies without taking a risk. Simultaneously beginners have the opportunity to familiarize themselves with the platform and test trading once before investing real money.
- Very good education on the website and with seminars
- The demo account is no time limit available