Contributor, Benzinga
July 15, 2023
Overall Rating:
securely through IronFX's website

IronFX gives clients access to trading contracts for difference (CFDs) on a wide range of asset classes including forex, commodities, spot metals, spot indices, futures and shares. The online broker offers several different account types and trading platforms, as well as a blog, research material and educational resources. IronFX also offers social trading via its AutoTrade platform and keeps segregated accounts for traders. The broker is also holding the Iron Worlds Championship, a trading competition with a $1,000,000 prize pool.  

Best For
  • Beginner traders
  • MetaTrader 4 traders
  • Social traders
  • 300+ tradable assets
  • Multilingual customer support
  • AutoTrading platform for social trading
  • Does not accept U.S. clients
  • No equities trading other than CFDs

IronFX Ratings at a Glance

Product Selection
Customer Service
Mobile App
User Experience
User Benefits
Overall Rating

IronFX is an online forex broker that offers trading in currency pairs, contracts for difference (CFDs), commodities, indices, futures, shares, gold, silver and oil. The broker was established in 2010. IronFX operates as a brand of Notesco Ltd which is registered in Bermuda. 

IronFX services over 1.2 million clients in 180 countries around the world, providing 300 tradable instruments from 6 asset classes. In addition to an online chat feature, IronFX gives clients access to 24/5 client support in 45 different languages. 

IronFX lets clients trade multiple markets on an Electronic Communications Network (ECN) 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 also gives new clients a variety of incentives, including a live trading competition and several initial deposit bonuses* (bonuses cannot be withdrawn). Its affiliate program even offers a bonus* (terms and conditions apply) if you decide to start your own online brokerage and partner with it. Keep reading our IronFX review to find out more about this broker. 

IronFX Product Selection

If you only want to trade forex and CFDs on metals and other assets, then IronFX would probably be adequate. Nevertheless, if you have more experience and trade in other major world markets, IronFX does not offer trading in cryptocurrencies, physical stock shares, stock options or bonds. The asset classes you can trade through IronFX are listed below: 

  • Forex: You can trade more than 80 currency pairs through IronFX. The broker offers several different account types with different dealing spreads and a Zero Account with fixed spreads and a commission per trade, so your trading costs will depend on the type of account you open. 
  • Metals: CFDs on gold, silver and platinum can be traded through IronFX. Trading metal CFDs lets you leverage positions, which can amplify your profits or losses. 
  • Indices: CFDs on indices like the UK 100, the Nasdaq Index and the Germany 30 can be traded through IronFX via the MetaTrader 4 platform. If you’re based outside the EU’s or U.K.’s jurisdiction, you can trade CFDs on indices with a leverage ratio of 1,000 to 1, which means you could control a $1,000 position with just $1. 
  • Commodities: IronFX offers trading in certain energy commodity CFDs, including natural gas and WTI and Brent crude oil for which the required margin is 2% of the total contract value. 
  • Futures: IronFX offers futures trading in various commodities, currency pairs, stock indices and U.S. Treasury futures, among others. IronFX claims you get no re-quotes and fast executions when trading futures with them. Required margin rates range from 1% on most futures to 3% for the FTSE China A50 index.  
  • Shares: IronFX lets you trade CFDs on shares of some of the most popular companies, including Facebook, Apple Inc., Twitter and Microsoft. This lets you diversify your portfolio.

The products listed above represent only a partial list of the more than 300 CFDs, futures and other assets that you can trade at IronFX. Visit the broker’s website for a complete listing. 

IronFX Pricing

IronFX primarily makes its money from dealing spreads, although you might have to pay additional fees depending on the asset and type of account you choose. 

  • Forex: Minimum dealing spreads range from 0.7 pips for the EUR/USD currency pair to as much as 400 pips for the EUR/CZK (EU euro vs. Czech koruna) currency pair.
  • Metals: Minimum dealing spreads range from a minimum of 0.04 for XAG/EUR (spot silver vs. euro) to 4.5 for XPD/USD (spot palladium vs. U.S. dollar). XAU/USD (spot gold vs. U.S. dollar) has a minimum spread of 0.5.
  • Indices: Spreads for indices can be as low as 2 for the US30Cash index or as high as 4,500 for the UK250Cash index. 
  • Commodities: Spot energy commodity contracts trade with dealing spreads of 3 or 4.  
  • Futures: Futures contracts all carry a $10 per contract charge, plus spreads of 0.04 for cotton futures, 2 pips for individual currency pairs and 20 units for the ASX SPI 200 index. 
  • Shares: Several charges apply to shares trading that start with a 10% charge for used margin. The broker also charges a commission of 0.10% on the dollar amount of shares and a minimum dealing spread that can range from 0.03 for some U.S. shares to as much as 400 for Czech Republic shares. 

Keep in mind that the dealing spreads above refer to normal market conditions. The spreads can widen considerably in fast or highly volatile markets.  

IronFX Promotions

The company’s current promotions include its Iron Worlds Championship live trading competition held from mid-June 2021 until mid-December 2021. This competition has a $1 million prize pool with multiple prizes awarded to winners at different stages of the competition. 

Other promotions include a $1,000 cash bonus to new IronFX affiliates (subject to terms and conditions) and 3 bonuses for first depositors that include:

  1. 100% Unlimited Sharing bonus*: This bonus doubles your first deposit but that deposit money cannot be withdrawn. 
  2. 40% Power bonus*: You can receive a bonus of up to 40% of your initial deposit up to $4,000. 
  3. 20% Iron bonus*: You can get a bonus of up to $2,000 for new forex trading accounts other than straight through processing (STP)/ECN accounts.  

*Note that IronFX’s withdrawal policy states the broker will deduct an amount corresponding to your bonus when you withdraw funds from your account. 

IronFX Customer Service

You can reach customer support directly on the IronFX website through its live chat feature. The broker also provides email and telephone support on a 24/5 basis throughout the trading week in 45 different languages. 

IronFX Mobile App


IronFX mobile trading platform. Source: IronFX. 

IronFX supports mobile trading via the MetaTrader 4 (MT4) mobile app. This platform has most of the features of the MT4 desktop software, and it works on both Android and iOS mobile devices and tablets. 

IronFX User Experience

IronFX supports the MT4 trading platforms for desktop, tablet and mobile devices. This sophisticated platform is intuitive and easy to learn for novices, and it will already be familiar to most experienced forex and CFD traders. You can also access your trading account online using the web-based MT4 application. 

In addition, the broker provides affiliates, professionals and investment portfolio managers with a Personal Multi Account Manager (PMAM). IronFX also offers a virtual private server (VPN) that provides enhanced connection speed, continuous uptime and added security. 


IronFX tablet, desktop and mobile platforms. Source: IronFX. 

IronFX User Benefits

The user benefits at IronFX come primarily from its support for the MT4 platform, which is the well-established standard for forex and CFD trading. The company’s initial deposit bonuses and trading competition promotions can also provide some benefit.  

IronFX Security

IronFX is a trade name of Notesco Limited, which is registered in Bermuda under registration number 51491. Its registered address is 65 Court Street, 6th Floor, Hamilton HM 12, Bermuda.

The broker maintains customer accounts segregated from their own, although the broker does not provide guaranteed stop-losses. 

With respect to data security, IronFX uses standard data encryption, but it lacks 2-tier platform authentication and only requires a 1-time password for MT4.    

IronFX Overall Rating

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. 

With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus. The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker.   

IronFX vs. Competitors

IronFX supports only forex and CFD trading on multiple assets. The lack of trading in equities and options besides the share CFDs might disappoint stock and options traders, although IronFX might be suitable for traders who only want to trade in these markets. For a wider range of asset classes, you might want to look for a different online broker. 

  • securely through's website
    securely through's website
    Best For:
    Forex Trading in and Outside the U.S.
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    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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    securely through eToro Forex's website
    Best For:
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    CFD trading is not available to U.S. users. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • securely through IG Markets's website
    securely through IG Markets's website
    Best For:
    Forex Execution
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    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

IronFX Tutorial

The IronFX School includes a video library, a glossary, sections on Trading for Newbies and Professionals, a basic “What is Forex” introduction, a strategy section, e-books, financial news and an economic calendar. IronFX could be a good starting broker for new and intermediate retail traders, although more professional traders might look for a broker with additional research resources and assets. 

Disclaimer: This content is intended information and educational purposes only and should not be considered as investment advice or investment recommendation.

Risk Warning: CFD products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.

Frequently Asked Questions


How do I withdraw money from IronFX?


The method you used for depositing funds is also generally the same one used for withdrawals of profits and any remaining account balance. To access this feature, you must apply for a bank withdrawal from your client portal. Keep in mind that the bonus you received when you opened your account is removed when you make a withdrawal. 


Is IronFX regulated?


IronFX is authorized by the CySEC, the FCA and regulated by ASIC.


Does IronFX accept US clients?


No, IronFX does not accept U.S. clients.

User Reviews

Sebastian Bing

How do you use this product to boost your finances?

It's a great broker. They are heavily regulated with 4 licenses (FCA, CySec, ASIC, BMA) and that's why I trusted them to invest $450,000 of my money. I use the elan posh strategy on their platform and withdraw around $83,000 every week without any issues


How do you use this product to boost your finances?

A bunch of scammers. Stay away. They got my funds and were playing games for days. Until, I got some people involved(Finance charge back via google). Customer service non existent. They have a guy on chat and whenever you talk about an issue his robotic r

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