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USGFX , IronFX Broker Comparison

Do you want to know which is the better broker between USGFX and IronFX ?

In the table below, you can compare the features of USGFX , IronFX side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2  brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions (ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
  • Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Pin on the left
1.58
No Regulation
No guarantee
5-10 years
ASIC,FCA,VFSC
Supported
Supported
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--

--

--

--
--
--
--
--
--
Foreign exchange, precious metals, stock index futures
10,000 USD
100:1
EURUSD 0.4
--
floating
0.01 lot
--
Pin on the left
7.84
Regulated
No guarantee
--
--
--
10-15 years
CYSEC,FCA,FSCA
Supported
Not supported
--
AA
A
431
78
78
94
1984
1984
1172
A

EURUSD:1.1

EURUSD:-1.2

18
-1
18
A

EURUSD:19.33

XAUUSD:24.8

AAA

EURUSD: -9.58 ~ 0.92

XAUUSD: -16.77 ~ 13.85

A
0.2
29.8
Forex, Metals, Indices, Commodities
--
1:200
--
--
--
0.01
--

Score
Regulatory Status
No Regulation
Regulated

USGFX 、 IronFX BrokerRelevant information

USGFX BrokerRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of usgfx, ironfx lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

usgfx
USGFX Basic Information
Registered Countries/Region Australia
Founded in 2005
Regulation No Regulation (ASIC, FCA, VFSC, all revoked)
Tradable Assets Forex, CFDs, Indices, Commodities, Cryptocurrencies
Trading Platforms MT4, MT5, WebTrader, mobile app
Minimum Deposit $100
Maximum Leverage 1:500
Spreads From 1.4 pips
Commissions No commissions on most account types, but swap fees apply
Inactivity Fee $10 per month after 3 months of inactivity
Educational Resources Trading guides, video tutorials, webinars, eBooks, economic calendar, market news
Customer Support 24/5 support via phone, email, live chat, and social media; multiple language support

Overview of USGFX

Union Standard Group (USG) is an Australian investment firm that provides access to trade forex and CFDs under the brand name ‘USGFX’. The brand began operations in 2005 and is headquartered in Sydney, Australia with subsidiaries in London and Asia. This broker offers a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies, which can be traded on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

USGFX prides itself on its commitment to customer service, with a 24/5 customer support team available to assist traders with their queries. The broker also offers educational resources such as webinars, ebooks, and video tutorials, as well as a free demo account for traders to practice their strategies. In addition, USGFX offers a range of account types to cater to the needs of different traders, including Standard, Pro, and VIP accounts.

basic-info

Is USGFX legit or a scam?

USGFX has received mixed reviews and there have been reports of some traders experiencing issues with withdrawals and customer support. USGFX had their ASIC and FSC licenses suspended and VFSC license revoked in 2020 due to concerns over their compliance with regulatory requirements, particularly in regards to client money handling and risk management procedures. The Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of the British Virgin Islands suspended USGFX's licenses for six months, while the Vanuatu Financial Services Commission (VFSC) permanently revoked their licenses.

Regulated brokers are required to adhere to strict rules and regulations regarding client funds, transparency, and risk management. In the event of any dispute or issue, traders have recourse through the regulatory body. With an unregulated broker, there is no such protection, and traders may be at a higher risk of fraud or other unethical practices

regulation
regulation
regulation

Pros & Cons

Here let's take a closer look at the good and bad things about USGFX. On the plus side, they offer a wide range of financial instruments to trade, including Forex, commodities, and indices. Their trading platforms are also pretty user-friendly and easy to navigate. On the downside, their regulatory status is questionable, which could be a red flag for some traders. Plus, they don't accept clients from certain countries, so you'll want to make sure you're eligible before signing up.

Pros Cons
Wide range of trading instruments Revoked licenses by ASIC, FSC, and VFSC
Multiple account types with various trading conditions Negative reviews from customers
Various deposit and withdrawal methods Limited educational and research materials
24/5 customer support
Advanced trading platforms
Bonuses and promotions for clients

Market Instruments

USGFX offers a range of financial instruments for trading, including forex currency pairs, commodities, indices, and shares of popular companies. Some examples of the instruments offered by USGFX are:

  • Forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD

  • Precious metals like gold, silver, and platinum

  • Energy commodities such as crude oil and natural gas

  • Indices such as S&P 500, NASDAQ, FTSE 100, and Nikkei 225

  • Shares of popular companies like Apple, Amazon, Facebook, and Microsoft

products

Account Types

USGFX offers four different types of trading accounts to cater to the needs of different traders:

  • MINI Account: This is the entry-level account with a minimum deposit requirement of $100. Traders with this account type can trade a wide range of instruments with low trading costs, access to educational resources, and 24/5 customer support. However, this account type comes with limited features, such as lower leverage and limited trading tools.

  • Standard Account: The standard account requires a minimum deposit of $10,000 and comes with additional features such as higher leverage, access to more trading tools, and a dedicated account manager. Traders with this account type can also enjoy free VPS hosting and regular market analysis.

  • VIP Account: This account type is designed for high-volume traders with a minimum deposit requirement of $50,000. In addition to the features of the standard account, VIP account holders can enjoy custom trading strategies, priority customer support, and exclusive market insights.

  • Pro-ECN Account: The Pro-ECN account is designed for experienced traders and institutions with a minimum deposit requirement of $50,000. This account type offers ECN trading with no dealing desk, ultra-low spreads, and high execution speeds. Traders with this account type can also access premium research tools and institutional-grade liquidity.

account-types

How to open an account with USGFX?

Opening an account with USGFX is pretty straightforward and you need to follow these steps:

  1. First, you need to go to their website and click on the “Open Account” button.

account-types
  1. Then, you'll need to fill in some personal details, like your name, email address, and phone number. After that, you'll need to choose the type of account you want to open and provide some additional information, like your date of birth and proof of identity.

account-types
  1. Once you've completed the registration process, you'll be able to deposit funds into your account and start trading. Just keep in mind that depending on the type of account you've chosen, there may be different deposit and withdrawal requirements.

Leverage

USGFX offers flexible leverage options ranging from 1:1 to 500:1, depending on the account type and instrument traded. It is important for traders to understand the risks involved with using high leverage and to use it judiciously. Additionally, some instruments may have lower leverage options due to market conditions or regulatory requirements. Traders should check with the broker regarding the available leverage options for specific instruments.

Spreads and Commissions (Trading Fees)

USGFX offers variable spreads, which means that the spread can widen or narrow depending on market conditions. The average spread for major currency pairs such as EUR/USD, USD/JPY, and GBP/USD is around 2-3 pips. Commissions are not charged for forex trading, but there are swap fees for holding positions overnight.

For trading other instruments like commodities, indices, and cryptocurrencies, USGFX charges a fixed spread. The size of the spread varies depending on the instrument traded. For example, the spread for gold is typically around $0.50 per ounce, while the spread for Bitcoin is around $60 per lot.

Broker EUR/USD Gold BTC/USD
USGFX 1.6 pips 30 cents $60
IC Markets 1.1 pips 32 cents $60
Pepperstone 1.13 pips 35 cents $60

Non Trading Fees

Apart from spreads and commissions, USGFX also charges several non-trading fees. These fees can add up and affect your overall trading experience, so it's important to be aware of them.

One such fee is the inactivity fee. This fee is charged to your account if you haven't made any trades or withdrawals for a specified period of time. The fee amount varies depending on the type of account you have and how long you've been inactive.

Another fee to be aware of is the withdrawal fee. While USGFX doesn't charge a deposit fee, they do charge a fee for each withdrawal you make from your account. This fee is a fixed amount and varies depending on the payment method you choose for your withdrawal.

USGFX also charges a swap fee, which is a fee charged for holding positions overnight. This fee can be a credit or debit depending on the direction of your position and the interest rates of the currencies you are trading.

Lastly, USGFX may charge a conversion fee if you deposit or withdraw funds in a currency that is different from the base currency of your trading account. The conversion fee is a percentage of the amount being converted and can add up if you frequently deposit or withdraw in different currencies.

Trading Platforms

USGFX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are highly popular among traders worldwide. These platforms are equipped with a range of trading tools, including charting tools, technical analysis indicators, and trading robots, making them suitable for traders of all levels.

MT4 is a well-established platform that has been around for over 15 years. It is known for its user-friendly interface, ease of use, and a wide range of trading tools. MT5, on the other hand, is the latest version of the platform, which was introduced in 2010. It offers several advanced features, such as more technical analysis tools, a multi-threaded strategy tester, and an economic calendar.

One of the significant advantages of MT4 and MT5 is that they are compatible with a range of devices, including desktop computers, laptops, smartphones, and tablets. This allows traders to access their accounts and trade from anywhere at any time.

trading-platform

Here's how USGFX's trading platform stacks up against other brokers' platforms:

Broker Trading Platforms
USGFX MetaTrader 4, WebTrader, mobile trading platforms
AvaTrade MetaTrader 4, MetaTrader 5, AvaTradeGO, WebTrader
Exness MetaTrader 4, MetaTrader 5, WebTerminal

Deposits and Withdrawals

Minimum Deposit

USGFX has a minimum deposit requirement of $100, which is pretty reasonable compared to some other brokers out there. It means that even if you're just starting out with trading and don't have a lot of money to invest, you can still give it a go with USGFX. Of course, you won't be able to make huge trades for just $100, but it's a good starting point to get your feet wet and learn the ropes of trading.

Broker Minimum Deposit
USGFX $100
Avatrade $100
IC Markets $200

USGFX offers a variety of deposit and withdrawal options to its clients. Deposits can be made through bank wire transfer, credit/debit cards, and various e-wallets such as Skrill, Neteller, and FasaPay. The processing time and fees for each method may vary.

Withdrawals can also be made through bank wire transfer, credit/debit cards, and e-wallets. However, it is important to note that there may be fees associated with withdrawals, depending on the method chosen. Withdrawal requests are typically processed within 1-2 business days.

Also, USGFX may apply internal fees to withdrawals that are not actively traded. For example, if you make a deposit and then withdraw it without trading, USGFX may apply a fee of up to 3% of the deposit amount.

deposit-withdrawal
Pros Cons
Multiple payment methods available, including bank transfer, credit/debit card, and e-wallets High withdrawal fees for some payment methods
No deposit fees for most payment methods Some payment methods have a minimum deposit amount
Quick processing times for deposits Long processing times for withdrawals
Multiple currency options available for deposits Limited currency options available for withdrawals
Withdrawals may be subject to additional verification processes

Customer Support

USGFX offers customer support through various channels, including email, phone, and live chat. The broker has dedicated support teams in different regions to cater to clients' needs. Customer support is available 24/5, and clients can contact the broker through the website's contact form or through the provided phone numbers and email addresses.

USGFX also has an extensive FAQ section on its website that covers different aspects of trading, including account management, deposit and withdrawal, and trading platforms.

customer-support
Pros Cons
24/5 customer support No 24/7 customer support
Live chat support available No phone support available
Fast response time to email inquiries Limited multilingual support
Dedicated account manager for VIP clients Limited educational resources on customer support issues
Comprehensive FAQ section on website No support via social me

Educational Resources

USGFX offers a variety of educational resources to help traders improve their knowledge and skills in trading. The broker provides free webinars, video tutorials, e-books, and other resources to help traders learn about various topics such as technical analysis, risk management, trading strategies, and more. Additionally, USGFX offers a demo account, which traders can use to practice trading in a risk-free environment.

The educational resources provided by USGFX can be accessed through the broker's website or the trading platform. The resources are available in multiple languages, making them accessible to traders from different countries. Traders can also interact with the broker's experts and other traders through online forums and social media channels.

1. Wide range of educational materials 1. Some materials may be outdated or not relevant to current market trends
2. Comprehensive courses and tutorials 2. Limited interactive resources for personalized learning
3. Regular webinars and seminars 3. Some materials may only be available to premium account holders
4. Market analysis and news updates
5. Economic calendar with upcoming events and indicators

Conclusion

USGFX is a forex broker that offers trading services in a variety of markets, including forex, commodities, and cryptocurrencies. The broker offers several account types with varying minimum deposit requirements, allowing traders to choose an account that suits their trading needs. However, the broker's regulation has been a point of concern, with its licenses revoked by various regulatory authorities. This, coupled with negative reviews from clients and the low ranking score, raises questions about the broker's trustworthiness.

FAQs

  • Q: Is USGFX a regulated broker?

A: USGFX was previously regulated by ASIC, FSC, and VFSC, but their licenses have been revoked due to regulatory violations.

  • Q: What trading platforms does USGFX offer?

A: USGFX offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices.

  • Q: What is the minimum deposit requirement to open an account with USGFX?

A: USGFX offers a MINI account with a minimum deposit requirement of $100.

  • Q: What is the maximum leverage offered by USGFX?

A: USGFX offers a maximum leverage of up to 500:1 for forex trading.

  • Q: What are the available payment methods for deposits and withdrawals with USGFX?

A: USGFX offers various payment methods, including bank transfer, credit/debit card, and electronic payment systems such as Neteller and Skrill.

  • Q: Does USGFX offer educational resources for traders?

A: Yes, USGFX provides a range of educational resources for traders, including webinars, e-books, and trading tutorials.

ironfx
Broker Name IronFX
Registered in Cyprus
Regulated by CYSEC, FCA
Year(s) of establishment 2010
Trading instruments 300+ instruments, including Forex, Metals, Indices, Commodities, Futures and Shares
Minimum Initial Deposit Information not available
Maximum Leverage 1:30
Minimum spread 0.0 pips onwards
Trading platform MT4, WebTrader
Deposit and withdrawal method VISAMasterCardMaestroSkrillNetellerDotPay
Customer Service 24/5, Email, phone number
Fraud Complaints Exposure No for now

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of IronFX

Pros:

  • Wide range of trading instruments including Forex, Metals, Shares, Futures and Cryptocurrencies.

  • Multiple account types including STP/ECN, Zero Spread and VIP accounts.

  • Various deposit and withdrawal methods with no fees from IronFX's side.

  • Availability of Islamic accounts for traders adhering to Shariah law.

  • Customer support is available 24/5 via phone and email.

Cons:

  • Educational resources are not available, which may be a disadvantage for beginner traders.

  • The maximum leverage is limited to 1:30, which may not be suitable for high-risk traders seeking higher leverage.

  • Limited regulatory oversight, with the company being regulated by only one top-tier regulator.

  • High commissions for some account types and instruments, which may result in higher trading costs for traders.

  • Limited availability in certain countries, which may restrict access for some potential clients.

What type of broker is IronFX?

Pro Con
IronFX offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, IronFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

IronFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IronFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that IronFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with IronFX or any other MM broker.

What is IronFX?

IronFX is a global online trading platform that provides access to forex, stocks, metals, commodities, and indices. Founded in 2010, IronFX is regulated by multiple financial authorities and provides clients with access to various trading platforms, including MetaTrader 4 and WebTrader. The company offers a range of account types, trading tools, and educational resources to cater to the needs of traders with different levels of experience. IronFX has won numerous awards for its products and services, including Best FX Broker, Best Trading Platform, and Best Customer Service Provider.

What is IronFX?

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Is IronFX Safe?

IronFX, operated by Notesco Financial Services Ltd in Cyprus, is currently regulated by the Cyprus Securities and Exchange Commission (CYSEC), holding an Market Making (MM) License, with license no. 125/10.

Is IronFX Safe?

IronFX's UK entity, NOTESCO UK Limited, is currently regulated by the Financial Conduct Authority (FCA) in the UK, holding an STP license under license no.585561.

Is IronFX Safe?

Market instruments

Pros Cons
  • Various instruments
  • Some instruments may have low liquidity
  • Opportunity for diversification
  • Some instruments may have wide spreads
  • Variety of currency pairs
  • Trading too many instruments can be overwhelming
  • Access to different asset classes
  • Complexity of tracking multiple instruments

IronFX offers access to 500 trading instruments from 6 asset classes, covering forex, metals, indices, commodities, futures, and shares. With over 80 currency pairs, including major, minor, and exotic pairs, IronFX provides access to a range of global markets. While some traders may find the number of available instruments overwhelming, this variety provides numerous trading options and the opportunity to capitalize on different market trends. However, some instruments may have low liquidity, leading to wider bid-ask spreads, and high volatility, leading to greater risk exposure. Additionally, trading a large number of instruments may require a greater amount of research and analysis, and some instruments may have high margin requirements, leading to greater risk and capital requirements.

Market instruments

Spreads and commissions for trading with IronFX

Pros Cons
  • Low spreads on certain account types and instruments
  • Lack of transparency on minimum deposit
  • Competitive commissions for certain account types
  • Lack of information on swap rates
  • No commissions on certain account types and instruments
  • Limited information on other trading costs such as slippage or overnight fees
  • Wide range of instruments to trade

IronFX offers a range of spreads, commissions, and other costs depending on the account type and instrument traded. For example, the live floating spreads of EURUSD in VIP account can be as low as 0.6 pips, which is highly competitive. Additionally, IronFX provides competitive commissions for certain account types, such as $10 per lot on STP/ECN Zero Spread account for trading EURUSD. On the other hand, IronFX lacks transparency in providing information on minimum deposit and swap rates, which may be a disadvantage for traders. Additionally, the lack of information on other trading costs such as slippage or overnight fees may be a drawback for traders who want to accurately assess the total cost of trading with IronFX. Despite these drawbacks, IronFX offers a wide range of instruments to trade, providing traders with multiple options to diversify their portfolio.

Promotions & Bonuses

Iron FX is hosting a trading competition running from April 1, 2024, to June 30, 2024, with a massive $500,000 prize pool up for grabs. Traders can participate by opening a competition account and meeting the minimum deposit requirement for each round. The competition provides an opportunity for traders to showcase their skills and compete for substantial cash prizes. Detailed information regarding the competition, including rules, prize structure, and registration process, is available on the Iron FX official website.

Promotions & Bonuses

Trading Accounts

Pros Cons
  • Various account types to choose from
  • Minimum initial deposit not disclosed
  • Multiple base currency options
  • Zero fixed spread account may have high commission fees
  • Flexible leverage up to 1:30
  • Commission-free trading available

IronFX seems to offer an innovative yet professional account structure to its traders.

For live floating or live fixed spreads trading, Iron FX offers Standard, Premium, VIP, and Live Zero Fixed Spread accounts for CFDs across forex, metals, indices, commodities, futures, and shares (except Live Zero). Minimum lot size is 0.01 with multiple base currencies. Spreads range from 1.6 pips (Standard) to 1.2 pips (VIP) floating or fixed (Live Zero) with/without commissions. Leverage up to 1000:1, 20%/50% stop-out, swap-free options available. All accounts include dedicated account managers, dealing desk support, and 24/5 assistance.

Trading Accounts

For traders who want to try the STP or ECN model, three specilized account options are on offer: No commission, Zero Spread, and Absolute Zero. These accounts provide access to CFDs on forex, metals, indices, and commodities, with a minimum lot size of 0.01. Base currency options include USD, EUR, JPY, GBP, and BTC.

The No Commission account features spreads starting from 0.9 pips without any commission charges. Conversely, the Zero Spread account has zero spreads but includes commissions on trades. The Absolute Zero account combines the best of both worlds, offering zero spreads and no commissions, albeit with a lower leverage cap of 200:1 compared to 500:1 for the other two account types.

Trading Accounts

Trading Platform(s) that IronFX offers

IronFX's trading platforms cater to various trader preferences, offering a range of web-based, mobile, and social trading solutions. The MT4 platform provides advanced functionality, while the WebTrader and Web App offer user-friendly interfaces. The VPS service ensures continuous trading capabilities, and the mobile app allows for on-the-go access. Additionally, the PAMM and TradeCopier features facilitate social trading and strategy copying, providing traders with opportunities to learn from and follow successful peers.

Pros Cons
  • Two platform options: MT4 and WebTrader
  • Limited platform options compared to other brokers
  • MT4 is a widely recognized and popular platform with advanced charting and technical analysis tools
  • WebTrader may have limited features compared to the desktop version of MT4
  • MT4 allows for customization with the use of Expert Advisors (EAs) and indicators
  • No proprietary platform offered
  • MT4 has a large online community where traders can share ideas and strategies
  • Learning curve may be steep for new traders unfamiliar with MT4
  • MT4 is available on desktop, mobile, and tablet devices for convenient access

MetaTrader 4 and WebTrader

  • MetaTrader 4 (MT4) - The industry-standard platform offering advanced charting, technical analysis tools, Expert Advisors (EAs), and customizable interfaces.

  • WebTrader - IRON FX's proprietary web-based platform providing a user-friendly interface and access to various trading instruments.

  • VPS (Virtual Private Server) - Allows traders to run automated trading strategies and EAs on a dedicated virtual server, ensuring continuous connectivity.

  • PAMM (Percent Allocation Management Module) - Allows traders to allocate funds to successful money managers and participate in their trading strategies.

MetaTrader 4 and WebTrader

Mobile Apps:

  • New mobile app (iOS and Android) - IRON FX's newly launched mobile application, enabling traders to monitor their accounts, place trades, and access real-time market data on-the-go.

Mobile Apps:
  • Web App - The next generation, web-based Web Trader app is a powerful app that is easy to use and syncs effortlessly with the MT4 platform.

Mobile Apps

Social Trading Features:

  • TradeCopier - A social trading feature that enables traders to automatically copy the trades of other successful traders, mirroring their strategies and positions.

Social Trading Features

Maximum Leverage of IronFX

Pros Cons
  • Allows traders to increase potential profits with a smaller initial investment
  • High leverage can increase potential losses
  • Provides flexibility to trade larger positions
  • Requires strict risk management and trading discipline
  • Can be suitable for experienced traders with a solid understanding of leverage
  • Inappropriate use of leverage can lead to margin calls and account liquidation
  • Can offer opportunities for diversification and risk management
  • Not suitable for all traders, especially beginners

IronFX offers a maximum leverage of up to 1:30, which allows traders to increase potential profits with a smaller initial investment and provides flexibility to trade larger positions. However, high leverage can increase potential losses, and requires strict risk management and trading discipline to avoid margin calls and account liquidation. Although leverage can offer opportunities for diversification and risk management, it is not suitable for all traders, especially beginners who may not have a solid understanding of leverage. Therefore, traders must carefully consider their risk appetite and experience level before deciding to trade with leverage.

Deposit and Withdrawal: Methods & Fees

IronFX offers a variety of deposit and withdrawal options for traders. Bank wire transfers have no deposit fees, but may be subject to corresponding and intermediary bank fees. Credit/debit card deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals may have fees up to EUR 1.5 per transaction. Skrill and Neteller deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals have a maximum transaction amount of USD 50,000 per transaction and Neteller withdrawals have a minimum fee of USD 1.00 per transaction. DotPay withdrawals have a maximum transaction amount of PLN 200,000 with no associated withdrawal fees.

Deposit

Credit Card/Debit Card Deposit Fees Maximum transaction amount
VISA None USD 50,000 per transaction
MasterCard None USD 50,000 per transaction
Maestro None USD 50,000 per transaction
Bank Wire Deposit Fees
Bank wire Depends on the corresponding and intermediary banks.IronFX does not apply any fees.
Skrill Deposit Fees Maximum transaction amount
USD 50,000 per transaction
Neteller Deposit Fees Maximum transaction amount
USD 50,000 per transaction
DotPay Deposit Fees Maximum transaction amount
PLN 200,000

Withdrawal

Credit Card/Debit Card Withdrawal Fees Maximum transaction amount
VISA up to EUR 1.5 per transaction USD 50,000 per transaction
MasterCard up to EUR 1.5 per transaction USD 50,000 per transaction
Maestro up to EUR 1.5 per transaction USD 50,000 per transaction
Skrill Withdrawal Fees Maximum transaction amount
1% capped to USD 10,000 USD 50,000 per transaction
Neteller Withdrawal Fees Maximum transaction amount
2% capped to USD 30.00 / minimum USD 1.00 per transaction USD 50,000 per transaction
DotPay Withdrawal Fees Maximum transaction amount
N/A PLN 200,000

Educational Resources in IronFX

Iron FX offers a comprehensive educational suite including VIP market analysis, webinars, seminars, podcasts, trading psychology resources, financial news, video tutorials, and an economic calendar. These rich educational resources can potentially help traders seek knowledge enhancement across various topics, strategies, market updates, and psychological aspects of trading, ensuring a well-rounded learning experience for all skill levels.

Educational Resources

Customer Service of IronFX

Pros Cons
24/5 support line No 24/7 support
Email support with response within 24 hours on business days No live chat support

IronFX offers customer care services through email support and a support line that is available to answer calls 24/5. Customers can expect to receive a response within 24 hours during business days when they send an email to the support team. However, there is no live chat support available, and customer care services are not available 24/7. Also, the language support provided is limited, which may be a disadvantage for some customers.

Conclusion

Overall, IronFX is a well-established and regulated online brokerage firm offering a wide range of trading instruments, including forex, metals, indices, commodities, and shares, to its clients. The company offers multiple account types and trading platforms, catering to the needs of different types of traders. It also provides its clients with access to various deposit and withdrawal options, as well as a dedicated customer support team. However, the lack of educational resources and limited research tools may make it less suitable for novice traders. Additionally, the high minimum deposit requirement and relatively high fees may make it less accessible for some traders. Nonetheless, IronFX's strong regulation, multiple trading instruments, and flexible account options make it a competitive choice for experienced traders.

Frequently asked questions about IronFX ( FAQs)

Is Iron FX suitable for beginners?

IronFX can be a decent starting point for beginners. This broker provides educational resources and a user-friendly platform (MetaTrader 4).

Is Iron FX safe to trade with?

IronFX can be safe if you use their entities regulated by UK's FCA, Cyprus' CySEC or South Africa's FSCA. But check forex broker safety ratings before starting.

Does Iron FX offer some unique features?

IronFX offers a social trading platform (“Tradecopier”) to copy experienced traders, potentially helpful for beginners.

Are the transaction costs and expenses of usgfx, ironfx lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive usgfx and ironfx are, we first considered common fees for standard accounts. On usgfx, the average spread for the EUR/USD currency pair is EURUSD 0.4 pips, while on ironfx the spread is --.

Which broker between usgfx, ironfx is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

usgfx is regulated by ASIC,FCA,VFSC. ironfx is regulated by CYSEC,FCA,FSCA.

Which broker between usgfx, ironfx provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

usgfx provides trading platform including ECN/STP account,VIP account,Platinum account,Standard account,Mini account and trading variety including Foreign exchange, precious metals, stock index futures. ironfx provides trading platform including Absolute Zero,Zero Spread,No Commision,Live Zero Fixed Spread,VIP,Premium,Standard and trading variety including Forex, Metals, Indices, Commodities.

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