IronFX Forex Broker
Are you a fan of Barcelona FC? This is a review of their main sponsor – IronFX Global. It is a Forex broker with quite a long history and it is regulated by 5 different authorities. Also, this broker is one of the most awarded FX brokers in the world. But what hides behind all this fluffy stuff? Find out every detail in our IronFX Review!
IronFX Forex Broker History
IronFX Global started its history in the 2010, when their first office in Cyprus was established. For two years already it is an official Barcelona FC sponsor, but our IronFX review suspects that this partnership will not last long. This FX broker is regulated by 5 different authorities, including CySEC, FCA and UCRFIN. However, In August 2015 Cyprus Regulatory Commission started an investigation against IronFX, which now raises a lot of questions about this broker. Even though IronFX has offices in more than 20 countries, it does not make its reputation any better these days but raises a question is IronFX scam?
IronFX Forex Broker Accounts
The amount of account types offered by IronFX is 9 excluding affiliate account types. But, looking into depths of IronFX Forex Trading, most of these accounts do not make much of a sense. The fact that they have different affiliate accounts makes things even more complicated.
There are accounts with floating spread, fixed spread and no spread. And, as it has been found our by IronFX reviews, each of these accounts has Basic Account, called Micro, more advanced, named Premium, and VIP account.
Micro account is given to every client with deposit below 2,500 USD and VIP account requires at least 20,000 USD deposit. Every deposit between these two figures should grant you Premium account. Interesting to know that no difference in leverage these account types do not provide. Furthermore, This broker claims that their spread on VIP account is lower than on other account types, but in reality it is lower only on some major currencies.
What is more to that, there are two ECN and STP account types that are different in terms of spread only. So, you have ton of choice in terms of accounts when you go for this FX broker, but IronFX broker review suspects that for most of the clients this variety will only bring a headache instead of excitement.
IronFX Reviews of Trading Platforms
One of the few good sides of IronFX is actually its set of platforms that is provided to clients. Broker allows you to use standard MT4 and MT5 for both Mac and Windows PC. Also, these two platforms are available for iOS, Android and Windows phone, so you can easily trade on-the-go. Additionally, there is mobile trading platform for Blackberry OS, but with current situation, IronFX forex broker review does not recon that somebody is going to use it.
Furthermore, there is a web-based version of Meta Trader 4 provided by IronFX. So, if you would like to trade without installing any additional software, it is possible.
As for social trading, IronFX Global gives you choice between Social Trader and Auto Trader. The social trader is also available for major mobile platforms. As for Auto Trader, it is available only in the web version and is actually the solution made by My FX Book.
IronFX Global Reviews of Education
From the first sight, educational tools offered by IronFX seem to be good. There are books, webinars, and encyclopedia that are available free of charge. Also, IronFX claims to provide free offline seminars and meetings for traders that should boost your skills. But, due to questionable reliability of this broker, and probable IronFX scam, we do not recommend you to use any of its educational tools. If you want good education we recommend you to try trusted brokers, as XM.
IronFX FX Broker Customer Support
IronFX gives you the ability to contact them 24 hours per day 5 days per week using the live chat. If you want to use other contact methods, you can write them an email or call them. Since they have so much offices, their support is available in more than 30 languages, including: English, German, Russian, Spanish and Portuguese. They do answer your questions, but they avoid answering direct questions about recent investigation on IronFX Forex Broker, telling that everything is okay and your funds are safe.
IronFX Global Broker Deposit and Withdrawal
Getting your money to IronFX is actually easy. They offer credit and debit card payments as well as most common e-payment systems as Skrill and WebMoney. Also, they had a partnership with a few of international banks, which was supposed to increase the speed of wire transfers, but due to the recent situation, partnerships probably will be broken, so stay aware.
As a usual practice for FX brokers, you will be able to make withdrawals to credit card or e-payment system in the amount which is not higher than your deposit from that source. All pure profits will have to be withdrawn using bank transfer.
IronFX Review Conclusion
Putting everything together, IronFX seemed like a normal broker with its wide choice of platforms and educational tools. But, high amount of account types and questionable conditions raise some questions that will not allow us to name this broker as one of the good ones. Even though it has 33 awards, there are some major flaws and possible IronFX Scam that show the real face of this broker.
Overall, we would not recommend you to trade with a broker that has too many account types and investigation on its shoulders. We do suppose, that until the situation with CySEC is not resolved, there is no reason to give your money to this broker. Of course, IronFX has other 4 regulations, but it can quickly change, so be prepared. If you want to trade with a solid broker that does not raise any questions, we suggest you go for Plus500. Remember, there are no reasons to trade with unreliable brokers when you have solid choices available.