Regulations and others …

IronFX, a subsidiary of Notesco Financial Services Limited, based in Cyprus, has been in business since 2010. According to its website, IronFX is used by more than 1,200,000 traders. The Forex broker operates from its Bermuda branch, Notesco Limited, which this test focuses on. Indeed, it is from there that IronFX can offer the best possible trading conditions to its clients. Traders have access to a reasonable choice of assets on the well-known MT4 trading platform. Several different forex trading accounts can meet the different needs of traders. The maximum leverage of 1: 1000 and deposit bonuses are the main promotional incentive to attract new retail traders.

Regulations and safety

Notesco Financial Services Limited, the entity that launched IronFX in 2010, is regulated by the Cyprus Securities and Exchange Commission (CySEC). In 2013, the company moved to Australia, where it operates under the supervision of the Australian Securities and Investments Commission (ASIC). Establishment in the United Kingdom in 2014 enabled Notesco UK Limited to obtain a license from the Financial Conduct Authority (FCA). In the same year, it was further approved by the South African Financial Services Council, which has since been replaced by the Financial Sector Conduct Authority (FSCA).

This Forex and CFD broker is therefore regulated by CySEC, FCA, ASIC and FSCA, which is a very impressive list of respected regulations. The company also obtained a Legal Entity Identifier (LEI) in Bermuda in 2017, which is expected to expire later this year.

The websites of the four regulated entities contain the required legal documents and the operating subsidiaries remain authorized.

In 2010 Notesco Financial Services Limited founded IronFX in Cyprus, where it is regulated by CySEC.

 

IRONFX is registered with Banque De France on the register of financial agents (Régafi)

 

The broker holds an operating license from ASIC.

IronFX is also regulated in the UK by the FCA.

 

IronFX is also regulated in South Africa, through its Notesco SA (PTY) LTD structure, No 45276

 

An LEI listing for Notesco Limited with an address in Bermuda is available.

Fees and Spreads

A combination of spreads and commissions exists when you trade with this Forex broker. A complex account structure affects pricing; it features minimum starting spreads as high as 1.8 pip and commissions of up to $ 43 per lot on Forex trades. Equities, for their part, have a general commission of 0.10%. Leverage overnight swap rates apply, which is common among most Forex brokers today. Corporate actions such as dividends and mergers have an impact on CFDs on stocks, although it is unclear how these stocks are handled. There is an inactivity fee of $ 50 per year, which is pretty low. IronFX also reserves the right to levy other fees if its supervisory committee considers that there is a breach of contract on the part of the trader.
MT4 traders can easily access swap rates from their platform by following these steps:

1. Right-click on the desired symbol in the window  Market Watch and select  Symbols.

2.Select the desired currency, then click  Properties located on the right side .

3. Scroll down until you see  Swap Long et Swap Short.

Spreads are comparatively higher at IronFX.

What can I trade?

IronFX offers tradable assets in six categories. Forex traders will find that the supply of 83 currency pairs is relatively ample, but only nine commodity CFDs, unfortunately, represent a fairly limited supply in this sector. However, IronFX offers a very respectable number of futures contracts; with 26 contracts available at the time of this IronFX test, the broker certainly sets the bar high for its competitors. Equity traders have 145 CFDs and 16 index CFDs to trade. A total of around 279 tradable assets gives most traders plenty of diversification opportunities.

IronFX offers 279 active traders across six categories.

Account types

A complex account type structure exists at IronFX, consisting primarily of two separate categories for a total of seven account options. Micro, Premium and VIP accounts offer floating, commission-free spreads with minimal differences between them. If the Zero Fixed account spread starts at 0.0 pip, there is a commission of up to $ 43 per lot. Three more selections are available in the STP / ECN category, where the Absolute Zero account offers a spread of just 0.3 pip at no additional cost, making it the account option we favored during our IronFX test. .

Traders have four variable / fixed spread account choices.

Traders have access to three other types of accounts within the STP / ECN model.

Trading platforms

The MT4 trading platform, which is very popular with Forex traders, comes in an improved package called called MT4 Advanced. A multi-page PDF is available to explain the additional features, which transform the basic version into a state-of-the-art trading terminal. The platform offers a significant advantage over most other Forex brokers who offer the MT4 terminal in its most basic format. MT4 is available as a client on desktop, webtrader and mobile version, the basic package with an acquired license. The most valuable part of IronFX is the trading platform. A Personal Multi-Account Manager (PMAM) is assigned to each trader, which appears to be an internal version of the MT4 Multi Account Manager (MAM) and Percentage Allocation Management Module (PAMM). A user guide guides interested customers in the use of this product, intended for retail portfolio management.

IronFX upgrades the standard MT4 trading platform with the MT4 Advanced add-on, enabling enhanced functionality.

The Personal Multi-Account Manager (PMAM) takes care of the management of the retail portfolio.

Unique characteristics

IronFX offers VPS hosting to support automated trading solutions, free of charge for accounts over $ 5,000. For accounts that do not meet this threshold, a monthly fee of $ 30 applies. The service provider for this service is Fozzy Inc. As always, traders should read the Terms of Service before subscribing to any additional services.

IronFX offers VPS hosting, free if the conditions are met, for $ 30 per month otherwise.

Research and education

A duo of analysts provide daily Forex market commentary, which includes limited research and occasional trading signals. The presentation is acceptable, despite the lack of an appropriate search service. A marketing document indicates a partnership with Trading Central, but we could not find how to access these tools.

IronFX offers market commentary but lacks proper research and education capabilities.

Customer Support

Customer support is available 24/7, via email, phone and live chat. An FAQ section offers assistance with the most common requests. Most traders are unlikely to need any help, but the different bonus offers can generate more contacts than other Forex brokers.

Customer support is available 24/7.

Bonus et promotions

IronFX is currently running a live trading competition with a prize of $ 10,000. Three deposit bonuses are also available which include a 100% first deposit bonus and two deposit boosters. Terms and conditions apply, and traders should be aware that the deposit bonus is added to the usable trading capital and cannot be withdrawn. However, since most Forex brokers don’t offer too many bonuses these days, this offer can be extremely attractive to many traders.

IronFX hosts a trading competition and offers three deposit bonuses.

Opening an account

In accordance with industry standards, the online application processes new accounts. The quick app allows traders to access the back office. As per AML / KYC requirements, account verification is mandatory. This requirement is usually satisfied by sending a copy of the trader’s ID and proof of address.

The procedure for opening an account is typical of the industry.

Deposits and withdrawals

IronFX does not immediately state which deposit and withdrawal methods are available. The FAQ section points to the client portal, and this Forex & CFD broker claims that the process is 100% automated. Deposits can take up to 24 hours to be credited or three business days in the case of bank transfers. Profits from trading can only be withdrawn by wire transfer. IronFX waives internal charges, but third-party charges may apply.

Deposits can take up to three business days to be credited.

Conclusion

IronFX is a broker that holds operating licenses from CySEC, ASIC and FCA. Currently, the platform is used by over 1,200,000 traders. The enhanced MT4 trading platform on offer is excellent and probably a welcome addition for most traders, and a wide selection of assets should provide more than enough choice for most Forex and CFD traders. If you are looking for a strong and well regulated Forex broker, IronFX may be what you are looking for. .

IronFX is a trade name of Notesco UK Limited. Notesco UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561).
IronFX is a trade name of Notesco Pty Limited. Notesco Pty Limited is authorized and regulated by ASIC (AFSL no. 417482). Notesco SA (Pty) Limited is authorized and regulated by the Financial Sector Conduct Authority (FSP no. 45276). Notesco Financial Services Limited is authorized and regulated by CySEC (CySEC no. 125/10). Notesco is listed in the register of financial agents – France (REGAFI 30140). IronFX is a trademark of Notesco Limited with registration number 51491 is a company registered in Bermuda.
Analyze-trading.com and IronFX jointly develop the French-speaking department, retails, affiliation and Introducing Broker

CFDs are complex instruments and come with a high risk of rapid loss of capital due to leverage. 66.38% of retail client accounts lose money when trading CFDs with this broker. You need to make sure that you understand how CFDs work and that you can afford to take the high risk of losing your money. Past performance is not an indication of future results. The content on this site is provided for informational purposes only and should not be construed as investment advice.