WikiFX Broker Assessment Series | IronFX: Is It Trustworthy?

In this article, we will conduct a comprehensive examination of IronFX, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.

Background:

Founded in 2010, IronFX operates as an online brokerage specialising in the trading of exchange-traded CFDs, serving both retail and institutional clients across more than 190 countries in Europe, Asia, the Middle East, Africa, and Latin America.

IronFX offers a diverse range of over 500 tradable assets, including currency pairs, metals, global indices, futures, and shares.

In addition, IronFX features an Introducing Broker (IB) programme, allowing individuals and businesses to earn commissions by referring new clients to the company.

IronFX offers a social trading service named TradeCopier, facilitating money managers and traders to enhance efficiency, profitability, and generate passive income via copy-trading.

It is important to note that IronFX does not currently offer its services in the United States, Cuba, Sudan, Syria, or North Korea.

Types of Accounts:

IronFX offers several account options, categorised into two main groups: Live Floating/Live Fixed Spreads and STP/ECN accounts.

Please refer to the attached images below for detailed information on each account type.

Deposits and Withdrawals:

IronFX claims to offer simple deposit and withdrawal processes, but the list of available options is only accessible to the companys trading clients and is not disclosed on its official website.

Trading Platforms:

IronFX provides two trading platforms:

● The MetaTrader 4 (MT4) trading platform, available on PC, mobile, and web, is widely used in the industry. MetaTrader 4 is an advanced trading platform offering a comprehensive suite of features and tools for precise trading analysis. With one-click trading, quick order execution, VPS hosting, and up to four pending order types along with trailing stops, it provides a highly customizable interface with thousands of online tools to plug in. The platform supports fully customizable and in-depth charts, in-depth trading history, and allows users to build or import Expert Advisors (EAs), enabling the automation of trading strategies.

● The Personal Multi Account Manager (PMAM) platform enables users to manage orders, positions, and account equity online, with the convenience of one-click order execution. It supports the management of an unlimited number of accounts and provides real-time monitoring of financial instrument prices and forex rates. Users can also access detailed activity reports to track performance and account activity.

Research and Education:

IronFX offers a variety of research and educational resources, as well as useful tools to support traders at different levels, including trading videos, webinars, seminars, podcasts, an economic calendar, VPS, and more.

Customer Service:

IronFX offers 24/5 customer support in multiple languages, including English, French, Thai, Korean, Japanese, and more, via its live chat function. Clients can also contact IronFX by submitting an inquiry through the broker's question form.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has assigned IronFX a WikiScore of 7.85 out of 10.

Upon reviewing IronFX‘s licensing credentials, WikiFX found that the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), the United Kingdom’s Financial Conduct Authority (FCA), and South Africas Financial Sector Conduct Authority (FSCA). WikiFX has also verified the legitimacy of these licenses.