Until then, we recommend the following top 3 alternatives:
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IronFX Review South Africa 2021
Is IronFX Safe & Legit?
On the search for a trading platform that gives you both variety and flexibility? At TradersBest, we always try to find a trading platform that ticks all the boxes and provides something a little different from the competition.
Well, we believe you should look no further than IronFX. IronFX is a colourful, enjoyable trading platform that simplifies trading, and makes it easier for the trader to do business. Rather than cater to one kind of trader, our IronFX review found that this platform caters to all traders.
Offers and New Customer Experience – Great value sign up bonuses
So, what is IronFX? IronFX is a trading platform that knows their market, and they excel at providing a great experience for new customers, and new traders in general. The signup bonus offer they provide is a fantastic one, one that newer traders will certainly appreciate.
It’s a match deposit bonus that covers a variety of markets. Most of these offers are focused on forex trading, but it’s a perfect entry for new traders – that’s the instrument that could get you the best profits on a short term basis.
Take, for example, the 20% Iron bonus of up to $2000. It’s exactly what it sounds like – whatever you deposit, you get a 20% booster to go with your forex investments.
They also have a more flexible signup bonus, the 100% Sharing bonus of up to $1000, which again, doubles your deposit to use on any instrument you like. These are only some examples of the great welcome offers IronFX has for new traders, and it’s quite the welcome!
Usability – A colourful, intuitive platform
We know many trading platforms can seem bland, and a little generic. But, one thing we noticed in our IronFX review is how colourful the entire website is. You’re greeted with a warm bright red that covers the entire website, which is overlaid by a nice simple white that compliments the red well.
As you slide through the bonus offers, you’ll be greeted by many more colours – navy, green, dark blue, that are all easy on the eyes. The website itself is easy to get a hang of, everything is presented simply.
Across the banner, you have trading markets, trading platforms, the IronFX school; everything a new trader needs to get started with the platform. When you set up your account, cycling through everything is simple.
You choose your chosen trading platform, from the great list they have available – and straight away, you are greeted with a trading platform that you can start investing with. Our IronFX review finds IronFX are sticklers for the detail, and it shows here.
Year of Founding
Accounts – A great range to choose from
It’s always important to us that a trading platform has a great range of accounts. Even if it’s just something as simple as a demo account and a real account, as long as there’s a variety to choose from. IronFX does go all out when it comes to providing some great trading accounts.
You can choose from two different floating and two different fixed accounts, all of which offer different spread schedules and different structures of fees. You have your standard Live Fixed Spread and a Live Floating Spread. You also have some great STP (Straight to Profit)/ ECN (Electronic Communication Network) accounts, which essentially gets rid of a brokerage desk, and allows you to trade directly with the market.
An STP/ECN Account with No Commission is available here, and there’s also an exclusive Absolute Zero STP/ECN account, which sets you up for absolute safety and security when you’re dealing directly with the market.
It sets up an automatic stop loss for you so that you automatically leave the market before things go downhill too sharply. All of these accounts feature most of the major instruments: forex, commodities, shares, futures, CFDs, and indices.
You can even set up a simple value or cent account, which deals with just the currency you want to deal with, with no bells or whistles attached to it. IronFX does charge an inactivity fee, that goes to $50.
However, you’d have to be inactive for a year or over to warrant this, so they give you plenty of time to work with their platform. Our IronFX review appreciates the variety that IronFX brings to the table with their accounts. Not only that, but they will prioritise your safety.
Trading Platforms – IronFX experience and rating
A great trading website needs to offer a good amount of different trading platforms. Different traders operate differently, you can’t just have one outdated WebTrader and expect traders to utilise it.
IronFX understands this, and they’ve done all the grunt work to gain access to some of the best trading platforms for their customers.
They’ve got your traditional, by the numbers trading platforms with WebTrader and MetaTrader 4 and 5. However, they have some pretty nifty trading platforms that you’d be hard-pressed to find anywhere else. Take the PMAM Trading Platform. The PMAM allows you to manage several different forex accounts all under one banner, and it can work in conjunction with MetaTrader 4 to offer a great experience for any professional trader.
They also have the TradeCopier, allowing you to do exactly what it sounds like! You can copy the best pro traders strategies in real-time, allowing you to reap their benefits and learn the craft a bit better. This is an excellent platform for any beginner trader to get set upon.
Our IronFX review is impressed with the VPS Hosting too. The VPS is essentially a VPN that allows you to securely and quickly trade anywhere within the heavily locked IronFX network. IronFX offers something for everyone with their great trading platforms.
Payments – Easy and hassle-free
The ability to make quick deposits and withdrawals is essential for any trading platform.
You may want to boost your current trade with a commodity, by adding another $100. Or, maybe you’ve reached a peak on your forex trade, and you want to sell and withdraw so you can reap the rewards quickly. Well, IronFX have you covered, because they make everything as hassle-free as you’d wish it to be.
You need $100 to start any kind of account with IronFX, so they make sure to get the deposit up and running within the day so you can get to work. Their withdrawals are also very quick – depending on your payment method, you could have your funds in your account from anywhere between 24 hours to three working days.
They have the likes of Visa, Mastercard, bank transfer, Skrill, Neteller and Paynearme all available as payment options, as well as several more.
They also charge no fees on bank wires, which is handy if you want the most straightforward payment method. However, there are so many withdrawal feels if you’re using an eWallet. So, you’ll have to pay a little bit if you want your funds in your account quicker! Still, all this considering, you can’t deny the speed and efficiency that the IronFX payment system grants its users.
Fees – Some surprising news
We can almost hear the collective groans coming out of everyone’s mouths. This is everyone’s least favourite part of starting up a new trading platform, and we all just have to prepare ourselves to put aside some money to create this new account.
However, our IronFX review does bring some good news. IronFX does not charge anyone for setting up an account, or for any kind of deposit.
This is a welcome surprise for all you traders, that money you put aside can finally be put into some currencies so it can work for you! We have to warn you though, there can be withdrawal fees in some cases.
However, our IronFX review only found withdrawal fees to be in place, or to get very high when an account has been inactive for a long period. You also have to prepare yourself for some conversion fees, if you’re trading in one currency, and trying to withdraw in another.
Customer Service – Comprehensive and detailed
We always maintain that customer support is one of the most important assets a trading platform can have.
It’s how the platform links to the customer, it’s their main form of gaining feedback and building up a healthy rapport with your everyday trader. IronFX have all of this down to a tee, and we were frankly taken aback in our IronFX review by how comprehensive the IronFX customer service was.
They have a 24/7 live chat, phone line and email all available to contact at any time. The live chat is one of the first things you notice visiting the site – it pops up straight away, requesting to assist you! Their FAQ section is well thought out and well written, answering all the common queries and issues a trader may have.
Their tutorials videos are all linked to the FAQ section, so they’ll give you a real visual demonstration on how to learn a few things or fix a common issue that you may be having. Our IronFX review also noticed how much work went into providing all the different contact methods.
The email and phone lines are available in 180 countries and over 30 languages that span the entire globe. You can’t deny that IronFX has one of the best customer services out of any trading platform out there today.
Regulation and Deposit Insurance – No IronFX scams here!
It’s always essential a trader ensures their trading platform has gone through the legal process to ensure they’re safe and secure.
It’s an important step that some traders neglect, so you’re putting your funds and your internet safety at risk as a result. So, is IronFX reliable?
The first thing we did in our IronFX review checked out the security measures they took, and they went the whole nine yards. IronFX has gone out there and gotten itself regulated by the best four trading regulatory bodies in the world. FSCA, FCA, ASIC and Cysec all regulate IronFX as a secure and trustworthy trading platform.
They also have deposit insurance, ensuring that you state your name and provide legal documents, as well as direct deposit funds through a registered source to ensure it’s a legitimate deposit.
Our IronFX review had to note the security measures that IronFX took to make sure they had a legit trading platform, and it certainly shows with the measures they’ve taken.
Additional Features – Fantastic learning opportunities
One feature we have to note when it comes to IronFX is their IronFX School. The School essentially does what it sets out to do – it teaches new traders everything they need to know about trading.
You can see a rundown of the economic calendar, and financial news, an introduction to all of the trading instruments, videos that help guide new traders and pro traders alike.
The IronFX School has absolutely everything under the sun, and that’s why we feel the need to point it out in our IronFX review. Its attention to detail and educational ability is fantastic, and we believe there are very few places you can learn how to trade than at the IronFX School.
Trade Offer – Nothing but a variety
IronFX primarily focuses on forex trading, and it shows with the great variety of forex assets they have on hand. They focus on CFDs, with the most liquid CFDs on the market being EUR/USD, USD/JPY and USD/GBP.
They also have a great collection of some of the more niche CFDs, with currencies such as the Turkish Lira, the Russian Ruble and the South African Rand, which all have a surprising amount of value when you’re trading with IronFX.
Trading Costs – Reasonable fees compared to other instruments
We’ve mentioned before that IronFX are generous in that they don’t offer fees, but you’ll have to put aside a bit of money if you want to trade forex. First off, you’ll need $100 to set up your standard trading account.
Or, if you want to set up a Zero or Absolute Zero account trading forex, you’ll need a $500 deposit to start. You’ll have to deal with your average fees that come with trading on forex. You have your USD CFD fee, which comes to 0.10%.
If you’re trading on USD/EUR frequently, you also have a trading fee of €5.35 to pay, along with a spread depending on what account you use. If you compare these fees to the likes of trading with Apple and Vodafone shares, you’ll find that IronFX forex is much cheaper in the long run. However, the Zero accounts are where things will start to get a little pricey.
Trading Conditions – Great value conditions to work with
IronFX has some of the best value trading conditions when it comes to forex trading. You have a spread that starts at 0.7 pips and will average out at 1.2 pips, in EUR/USD.
In terms of leverage, you have leverage levels that can stretch up to 1:1000, when it comes to the USD/EUR, and USD/AUD CFDs.
A long swap for EUR/USD would be -5.96, and a short swap comes to -1.95. With the market flexibility forex has at the moment, you can see the value that IronFX brings to a popular CFD like USD/EUR.
Product Summary- The best currency on the site
We firmly believe forex is the best asset you can trade within IronFX. Our IronFX review found they simplify forex trading as a whole.
You have a great variety of assets to work with, all kinds of currencies to trade with, from the popular to the less known. You also have minimal fees to pay, compared to other instruments such as shares and commodities.
The trading conditions are more than reasonable, so you’ll be taking home a hefty chunk of your profit when you trade with forex. And, IronFX does its best to make sure your forex trading experience is a profitable one.
Niche forex CFDs available
Leverage of up to 1:1000
Great choice of assets
IronFX review FAQ
👌Is IronFX regulated and insured?
It’s always important that you check if a trading platform is fully regulated and legislated before you start depositing money with them. Your safety is on the line, along with your investments – a platform must have a few different regulations, such as negative balance protection. For more information, check out our Review of Libertex.
💲How do I withdraw money from IronFX?
Before you learn to withdraw, you must have a basic understanding of trading so you have winnings to withdraw. Trading depends on the instrument you wish to use, and you must follow a basic strategy when you start. For more information on a good platform to start with, check out our IQ Option review.
🚀Is IronFX good for cryptocurrency?
Looking for IronFX crypto options? Cryptocurrency is one of many instruments that IronFX provides. A trading instrument is a different type of market you can trade with. There are several different trading instruments, some are more volatile than others. To see a platform that has a wide range of trading instruments, check out our WeBull review.
Overall Conclusion – A brilliant, well-rounded trading platform
IronFX does what many of the top trading platforms do. But, the difference is it adds a whole new flavour to trading. The variety of their bonuses is great for any new user, and you have so much choice depending on what trading account you use.
There’s a surprising lack of fees compared to the top trading platforms out there, and making payments with IronFX is a simple and efficient process. They’ve got a great selection of trading platforms that enhance your trading experience uniquely.
Their customer service is always at hand, and always willing to resolve your issues quickly. Our IronFX review just found that they just provide something different in every aspect, and everything they do is quality.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. They may not be suitable for everyone. Please make sure that you fully understand the risks. You should consider whether you can afford to take the risk of losing your money.