It provides charts, quotes, account balance info, economic calendar, news, and other tools to provide traders with an opportunity to make informed trading decisions. To get information about available accounts and typical spreads, traders should visit the account types and spread comparison pages. Please read IronFx reviews below before investing with this broker and share your own live trading experiences with your fellow traders.
Traders who are new to the platform will need to spend some time learning the ropes, but the navigation is logical, so it would not be a problem. We test the broker’s platforms and examine commissions, spreads, and overnight fees to ensure that you can determine https://limefx.name/ if trading with this broker is worth your time and money. The broker offers the highly popular MetaTrader 4 platform.Traders have seven types of accounts to choose from. Three accounts offer the option to choose between the fixed and the floating spread.
At IronFX, we strive to provide our clients with a wide range of assets to trade, and we’re glad to hear that you find our currency pairs selection to be satisfactory. We’re also delighted to hear that you have confidence in our platform and want to continue trading with us in the future. IronFX provides traders 83 currency pairs (e.g., EUR/USD) compared to LimeFx’s 61 available pairs. Forex pairs aside, LimeFx offers traders access to 3583 CFDs while IronFX has 340 available CFDs, a difference of 3243. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker.
- The negative correlation of the precious metal’s price with the USD was relatively visible this week with minor changes seen in both trading instruments.
- Regarding security measures, unfortunately, the MT4 desktop trading platform does not offer a secondary login process, which means that your only form of authentication is through the initial login process.
- In the equities market, seems to have improved especially in the US with a positive overspill in Europe as well.
An alternate passive trading approach exists via the IronFX AutoTrade platform, where traders copy entire strategies. I like the details IronFX provides for each strategy and signal provider. Islamic accounts are available in four account types, but not including any of the STP/ECN accounts. One fixed spread account exists with commissions between $18.00 and $43.00 per round lot. Traders should avoid all account types, except Absolute Zero, as trading costs elsewhere remain excessive. One of the most ignored trading costs is swap rates on leveraged overnight positions.
Negative balance protection exists, ensuring traders never lose more than their deposit. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free IronFX Absolute Zero account. LimeFx, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade.
What Can You Trade with IronFX?
So let’s get on with sharing the details, and you’ll be in a much better position to decide. IronFX offers a top-quality customer support service that has been a useful advantage to the clients. The customer service has led to a satisfying trading experience, since the customer service staff were accommodating and their answers were relevant to the questions asked. IronFX is a global leading online broker based in Cyprus, with operations and offices around the world including Cyprus, London, Johannesburg, and Sydney. IronFX offers MT4 demo accounts, and I like the absence of a time limit on the demo accounts. It presents traders with an ideal environment to test EAs and new strategies.
I want to caution beginner traders about using a demo account as an educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value. IronFX lets clients trade multiple https://limefx.name/ markets on an Electronic Communications Network and also offers an AutoTrade copy trading platform for social traders. An extensive website section is devoted to trader education, which makes IronFX suitable for beginners.
IronFX rewards new and existing clients with a range of promotions. IronFX accepts a range of different payment methods including Skrill, Neteller, SafeCharge, Dotpay, NetBanx Asia, Visa and Mastercard, and ChinaUnion. Fees apply for some of the methods, and there are also minimum and maximum amounts that apply. Although the market research of IronFX is not comprehensive and there are not many options to select from, the Market Insight may be enough for you to use because of how accurate it analyzes the market. You also get the chance to contact a hotline for a dealing-desk interaction and a personal account manager.
After Searching internet you will find many negative IronFX Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and IronFX reviews are negative.
Possible scam activities of IronFX
The USD is about to end the week in the reds against its counterparts. On a fundamental level, we note the easing of the market’s worries for a possible overspilling of the banking crisis in the US. Also, we note Fed Board Governor Barr’s testimony, as he stated that “staff presented to the Federal Reserve’s Board of Governors on the impact of rising interest rates on some banks’ financial condition”. Hence as stated above, we understand the easing of the market’s worries, yet we highlight that the situation is still fragile and needs constant monitoring.
We’re glad you found the experience with IronFX smooth and easy. Our customer support team is always available at if you have any issues. After looking for weeks at all of the different brokers, I finally settled with this one.
Example of Negative IronFX Review
The commission is 18USD per lot, in the Zero Spread Account. Several trading platforms to choose from and a wide range of financial instruments make this broker attractive for opening a trading account. IronFX clients can choose between floating/fixed spread Standard, Premium, and VIP accounts.
Your job as a trader to take advantage of what is offered to you and enhance your skills as a trader. It’s good tht this broker has a simple and understandable system of registration and account verification. Because I am scared away by complicated bureaucratic processes.
Choose your Deposit Booster
In compliance with AML/KYC requirements, account verification is mandatory. That requirement can usually be satisfied by sending a copy of the trader’s ID and one proof of residency document. The commission-based alternative lists 0 pip fixed spreads but commissions ranging between $18.00 and $43.00 per lot. Wide range of ECN accounts is exactly what I need to trade more effectively during the day. Tight spreads and low commissions are the traits that characterize this broker in a positive way. The news is published on a daily basis and contains the key highlights of the trading day.
In our analysis of 23 international regulators across 50 brokers, LimeFx earned a higher Trust Score than IronFX. Also, the CAD seems to show greatly improved against the USD for the week. It should be noted that Canada’s Manufacturing and employment data for March are set to be released next week. Should the bullish tendencies for the commodity’s price be maintained, the support building up could be reflected in the CAD given that Canada is a major oil-producing country.
This page may not include all available products, all companies or all services. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. To deposit your money is easy, but to withdraw it, they do everything to block you, supposedly illegible documents, then it’s not the right email address, then lime fx it’s not the right amount. I did have some connectivity issues over MT4 with the trading server, which I resolved by getting a VPN located in London and connecting through there, and after that I was connected all the time with no issue. IronFx claims that the company asked Cysec to help them investigate cheating clients.
Why is It Important to Know Where Your Broker Subsidiary Is Regulated?
On Wednesday, we note the release of Germany’s Industrial Orders for February, Eurozone’s Composite PMI, UK’s Services PMI and the US ISM Non-Manufacturing PMI all for March. Finally, on a US-dominated Friday, we note the US Employment report for March, which includes also the NFP figure. Though there are such claims by many retail traders, according to most of the IronFX reviews you can rely on this broker. Like other brokers, IronFX makes money from mainly spreads & commissions from the registered money makers.
These features allow traders to stay on top of the markets and make informed trading decisions. For more information and details about our trading platforms, feel free to reach out to your IFX Expert or to our Customer Support team at IronFX Solid Trading. While IronFX offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market.
It has Zero-spread accounts, Micro accounts, Premium Accounts and VIP Accounts. It is immediately visible that the Zero-spread account has a lot of disadvantages because it has high commission rates and the investor is unable to choose between fixed and variable spreads. These accounts are available in the following currencies USD, EUR, JPY, GBP, AUD, CHF, PLN, RUB, HUF, the exception being the VIP Account. It is a glaring omission that the VIP Account doesn’t have the option to contain any currency other than USD. IronFX customer support provides personalized support for retail and institutional clients in more than 180 countries in Europe, the Middle East, Asia, Africa and Latin America.
It is taking more than 24 hours to be confirmed and I feel like I got scammed. What a joke of a company IronFX, taking the money of the people who trusted you, just sad. Clients should note that both fixed and floating spreads are available for Standard, Premium, and VIP accounts.
You can then select the type of trading account that suits your needs and trade on MetaTrader4, web, or desktop or mobile application. To compare the trading platforms of both LimeFx and IronFX, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found LimeFx to provide better mobile trading apps. In addition to round the clock customer support, the IronFX Academy provides clients with access to some market analysis, informational material and educational videos. Also, IronFX attends major forex expos in cities around the world. The broker also offers a Forex encyclopedia to broaden their customers’ understand of trading topics.