WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
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Xtrade , IronFX Broker Comparison

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

In the table below, you can compare the features of Xtrade , 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
1.67
Exceeded
No guarantee
5-10 years
ASIC,FSC,CYSEC
Not supported
Not supported
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--

--

--

--
--
--
--
--
--
--
$20000
--
--
--
--
--
--
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
Exceeded
Regulated

Xtrade 、 IronFX BrokerRelevant information

Xtrade 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 xtrade, 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

xtrade

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Feature Detail
Registered Country/Region Australia
Regulation ASIC, FSC
Found 2000
Market Instrument CFDs, indices, commodities, forex, stocks, ETFs, bonds, etc
Account Type Standard, Premium, Platinum and VIP
Minimum Deposit $250
Maximum Leverage 1:400
Spread (EUR/USD) 2-5 pips
Commission $0
Trading Platform WebTrader
Demo Account yes
Deposit & Withdrawal Method credit/debit cards and bank transfers

Xtrade was founded in 2000 and based in Melbourne, Australia, is a online trading broker. It currently holds a full license from the Australian Securities and Investments Commission (ASIC), a suspicious clone license from the Cyprus Securities and Exchange Commission (CYSEC), and an offshore retail forex license from the Financial Services Commission (FSC) of Belize. Xtrade offers a wide range of tradable assets, including currencies, commodities, indices, stocks, and more. This diverse selection allows traders to access various global markets and create well-diversified portfolios. With Xtrade, traders have the flexibility to choose from various trading account types, catering to different levels of expertise and trading preferences. The minimum deposit required to open an account is$250, allowing traders with different budget sizes to participate in the markets.

Xtrade offers a competitive maximum leverage ratio of up to 1:400, enabling traders to amplify their trading positions. Spreads on different financial instruments vary, ensuring a diverse range of trading opportunities.

Traders can access the markets using Xtrade's user-friendly and feature-rich trading platforms. These platforms provide seamless trading experiences across multiple devices, including web, mobile, and desktop.For traders who wish to test their strategies or familiarize themselves with the platform, Xtrade provides a demo account. Additionally, the broker offers an Islamic account option for traders who follow Shariah principles.

Xtrade prioritizes customer support, providing assistance to traders through various channels, including live chat, email, and phone. Traders can reach out to the dedicated support team for any inquiries or assistance they may need. The broker also provides educational tools and resources to help traders enhance their trading knowledge and skills.

basic-info

Is Xtrade legit or a scam?

Xtrade is a broker that is regulated by two regulatory authorities, namely the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC). ASIC is an Australian regulatory body known for its strict oversight of financial services providers, ensuring fair and transparent practices.

regulation

The FSC, on the other hand, is the regulatory authority in Belize, where Xtrade operates as an offshore entity. While the FSC is responsible for overseeing financial services in Belize, it is important to note that the regulatory standards may differ from those of ASIC. Traders should be aware of the regulatory jurisdiction in which the broker operates and understand the associated risks.

regulation

Pros and Cons

Xtrade offers several advantages and disadvantages that should be considered by potential traders. On the positive side, the broker is regulated by reputable authorities like ASIC. They offer a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies, providing diversification opportunities. Additionally, Xtrade provides educational resources and tools to support traders' knowledge and skills development. However, some drawbacks include the spreads not being highly competitive, which could affect the cost of trading, and the lack of transparency regarding commission charges, the absence of MT4 or MT5 trading platforms. Traders should carefully evaluate these factors before deciding to trade with Xtrade.

Pros Cons
Regulated by ASIC Spreads not highly competitive
Wide range of trading instruments Lack of transparency regarding commission charges
High minimum deposit for some account types Limited variety of account types
User-friendly and intuitive interface Limited educational resources compared to some other brokers
Various payment methods supported Lack of MetaTrader trading platforms
Demo account available for practice Inactivity fees for dormant accounts
Negative balance protection Limited research and analysis tools provided
Access to rich educational resources Limited availability in certain countries

Market Instruments

Xtrade offers a diverse range of market instruments to cater to the trading needs of its clients. Traders can access a wide variety of indices, representing different global markets, allowing them to speculate on the overall performance of major stock exchanges. Additionally, Xtrade provides a selection of commodities, enabling traders to participate in the price movements of precious metals, energy resources, agricultural products, and more.

Furthermore, Xtrade grants access to a comprehensive range of shares, including stocks of renowned companies from around the world. This allows traders to invest in individual companies and potentially benefit from their performance and dividends. In the forex market, Xtrade offers a vast selection of currency pairs, enabling traders to capitalize on fluctuations in exchange rates between various currencies.

For those seeking diversification, Xtrade provides access to Exchange-Traded Funds (ETFs). ETFs are investment funds that track the performance of a specific index or sector, allowing traders to gain exposure to a basket of assets with a single trade. Moreover, Xtrade offers the opportunity to trade bonds, enabling traders to invest in fixed-income securities issued by governments or corporations.

With this extensive range of market instruments, Xtrade empowers traders to diversify their portfolios and take advantage of various trading opportunities across different asset classes.

market-instruments
Pros Cons
Diverse range of tradable assets Limited availability of some niche markets
Access to global markets Possible volatility in certain instruments
Opportunities for portfolio diversification Limited selection of exotic currency pairs
Potential for profit in various sectors Spreads may widen during volatile periods
Availability of major indices and stocks Limited range of cryptocurrency offerings

Account Types

Xtrade offers different account types to cater to the varying needs of traders, starting with the Standard account. With a minimum deposit requirement of $250, the Standard account is ideal for beginners who are new to trading or prefer to start with a smaller investment. This account provides access to a user-friendly trading platform, educational resources, and basic trading features, allowing traders to gain experience and knowledge in the financial markets.

Moving up the ladder, the Premium account requires a minimum deposit of $1,000. This account type is suitable for intermediate traders who have a bit more experience and seek competitive trading conditions. Traders with a Premium account can enjoy a wider range of tradable assets, receive regular market updates, and access customer support services to assist them in their trading journey.

For traders looking for an even higher level of service and benefits, Xtrade offers the Platinum account. Requiring a minimum deposit of $5,000, the Platinum account provides traders with enhanced features, including tight spreads, faster trade execution, and dedicated account managers who can offer personalized guidance and support. This account type is suitable for traders who desire a premium trading experience and want access to advanced trading tools.

Lastly, Xtrade offers the VIP account, which is designed for experienced and high-net-worth traders. With a minimum deposit requirement of $20,000, the VIP account provides exclusive benefits such as priority customer support, lower trading costs, and advanced trading tools. Traders with a VIP account can enjoy personalized services and assistance from dedicated account managers to meet their specific trading needs.

Account Type Pros Cons
Standard - Suitable for beginners with a lower minimum deposit - Limited trading features compared to higher tiers
- Access to educational resources and basic trading tools - Less competitive trading conditions
Premium - Wider range of tradable assets - Higher minimum deposit requirement
- Regular market updates and customer support - Not as advanced as the Platinum and VIP accounts
Platinum - Enhanced features including tight spreads - Higher minimum deposit requirement
- Dedicated account managers for personalized assistance - May not be accessible for all traders
VIP - Exclusive benefits such as priority support - Very high minimum deposit requirement
- Lower trading costs and advanced trading tools - Designed for experienced and high-net-worth traders

How to open an account?

Opening an account with Xtrade is a straightforward process.

1. To begin, visit the Xtrade website and click on the “Open Account” button.

open-account

2. Fill out the registration form with your personal details, including your name, email address, and phone number.

open-account

3. Next, choose your desired account type and leverage level. After completing the form, review and accept the terms and conditions.

4. Finally, verify your account by providing the necessary identification documents as requested by Xtrade. Once your account is approved, you can proceed to fund it and start trading in the financial markets with Xtrade's user-friendly trading platform.

Leverage

Xtrade provides traders with flexible leverage options across various instruments. The leverage offered by Xtrade varies depending on the trading asset. For forex trading, the maximum leverage available is up to 1:400, allowing traders to amplify their trading positions. When it comes to commodities, the leverage reaches up to 1:200, offering traders the opportunity to trade larger volumes with a smaller initial investment. Shares trading on Xtrade's platform has a maximum leverage of 1:10, enabling traders to take advantage of price movements in the stock market. Lastly, for cryptocurrency trading, the leverage ranges from 1:10 to 1:50, depending on the specific digital asset.

Spreads & Commissions (Trading Fees)

Xtrade offers spreads that are not considered highly competitive, with the benchmark spread on EURUSD ranging from 2 to 5 pips. The spreads indicate the difference between the buying and selling prices of a trading instrument, and in the case of Xtrade, they may be slightly wider compared to some other brokers in the market. It's important for traders to consider the spreads as they directly impact the overall cost of trading.

leverage

However, it's worth noting that the exact commission charges associated with trading on Xtrade's platform are not specified. Traders should evaluate the overall trading conditions, including spreads and any applicable commissions, to make informed decisions regarding their trading strategy on Xtrade.

Non-Trading Fees

Apart from trading fees, Xtrade may charge non-trading fees, which refer to fees not directly related to trading activities. These fees can include charges for account inactivity, withdrawal fees, or fees for certain payment methods. It is important for traders to familiarize themselves with the specific non-trading fees imposed by Xtrade, as they may vary depending on the account type and the services utilized. Being aware of these fees can help traders effectively manage their trading costs and make informed decisions.

Trading Platform Available

Xtrade offers a user-friendly trading platform designed to meet the needs of modern traders. One of the platform options available is the WebTrader, which allows traders to access their accounts and trade directly from their web browser. It provides a seamless trading experience with advanced charting tools, real-time market quotes, and an intuitive interface. The WebTrader platform is accessible from any device with an internet connection, making it convenient for traders who prefer trading on the go.

trading-platform

For traders who prefer to trade on their mobile devices, Xtrade provides a mobile trading app compatible with both iOS and Android systems. The mobile app offers full functionality, enabling traders to monitor their positions, place trades, and access real-time market information. It is designed to be user-friendly and responsive, providing a smooth and efficient trading experience even on smaller screens.

trading-platform

Additionally, Xtrade offers a tablet trading app, optimized for larger screens and providing enhanced features for tablet users. The tablet app combines the convenience of mobile trading with the expanded functionality of a larger display, allowing traders to analyze charts, execute trades, and manage their portfolios with ease.

trading-platform

Promotions

Xtrade presents a range of enticing promotions and bonuses to enhance the trading experience for its clients. Traders can take advantage of the First Deposit Bonus, which offers a rewarding boost of up to $5000 on their initial deposit. Additionally, by completing a simple Phone Verification process, traders can earn a $25 Cash bonus as a gesture of appreciation. The “First Trade on us” promotion allows traders to enjoy a cash bonus of up to $500 when placing their initial trade. Furthermore, by verifying their trading account, clients can receive a generous 20% bonus as part of the Account Verification promotion. These promotions provide traders with added value and potential rewards, giving them a head start in their trading journey with Xtrade.

promotions

Deposit & Withdrawal

Xtrade offers flexible deposit and withdrawal options to cater to the diverse needs of its clients. While the standard minimum deposit is $250, Xtrade occasionally runs promotions that allow for lower deposit thresholds, providing more accessibility for traders. Clients can choose from various payment methods, including credit/debit cards, bank transfers, and American Express, among others. The availability of deposit options may vary depending on the country of residence.

deposit-withdrawal

When you request a withdrawal, the funds are returned using the same method you used for depositing. For example, if you deposited funds using a credit card, the withdrawal amount will be credited back to that card. Similarly, if you used a bank transfer for deposit, the withdrawal will be transferred back to your bank account. In the case of deposits made through e-wallets like Skrill or Neteller, the withdrawal will be returned either through a bank transfer or directly to the e-wallet. It's important to note that withdrawal requests typically take up to five business days to process. However, please be aware that external factors beyond our control, such as credit card companies or intermediary banks, may cause delays of up to three weeks in extreme cases. Normally, bank transfer or credit/debit card refunds are completed within 10 business days, while e-wallet payments are processed instantly once the withdrawal is approved.

Customer Support

Xtrade prioritizes providing excellent customer support to its clients. With their dedication to customer satisfaction, Xtrade offers round-the-clock customer support, ensuring assistance is available 24 hours a day, 6 days a week. This allows traders from different time zones to access support whenever they need it. The customer support team is multilingual, capable of assisting clients in various languages, further enhancing the accessibility and inclusivity of their services.

Clients can reach out to Xtrade's customer support through multiple channels, including email, phone, and online chat. This diverse range of contact options allows traders to choose the method that suits them best for efficient and convenient communication. Whether clients prefer written correspondence, direct phone conversations, or real-time chat support, Xtrade accommodates their preferences.

To provide additional assistance and address common inquiries, Xtrade offers a detailed FAQ section. This comprehensive resource covers a wide range of topics, including account registration, deposits and withdrawals, trading platforms, trading conditions, and more. The FAQs provide clear and concise answers to frequently asked questions, empowering traders with the necessary information to navigate the platform and make informed decisions.

customer-support
customer-support

Educational Resources

Xtrade offers a comprehensive range of educational resources designed to empower traders with knowledge and skills. Their educational offerings include video tutorials, which provide step-by-step guidance on various trading concepts and strategies. These tutorials are easy to follow and cater to traders of all levels, from beginners to advanced.

In addition to video tutorials, Xtrade provides interactive courses that cover a wide range of trading topics. These courses are carefully curated to provide traders with a structured learning experience, allowing them to delve deeper into specific areas of interest and enhance their trading proficiency.

For traders looking to familiarize themselves with industry terminology, Xtrade offers a comprehensive glossary. This glossary serves as a valuable reference tool, providing clear and concise definitions of key trading terms and jargon.

To keep traders informed about the latest market trends and developments, Xtrade offers a wealth of trading information. This includes real-time market news, analysis, and insights, enabling traders to stay updated and make informed trading decisions.

Xtrade's blog is another educational resource that offers a wealth of informative articles on various trading topics. From market analysis and trading strategies to risk management and psychology, the blog covers a wide range of subjects to help traders expand their knowledge and refine their trading approach.

Lastly, Xtrade prioritizes trading education and provides access to additional educational materials such as e-books, webinars, and seminars. These resources offer valuable insights and perspectives from industry experts, further enriching traders' learning experience.

Overall, Xtrade's educational resources aim to equip traders with the knowledge and skills necessary to navigate the financial markets effectively. By offering a diverse range of educational tools, Xtrade strives to support traders in their quest for continuous growth and improvement.

educational-resources
educational-resources

Conclusion

Xtrade offers a wide range of trading opportunities with its user-friendly platform and diverse tradable assets. The broker is regulated by ASIC and FSC, and the leverage provided offers flexibility to traders. Customer support is readily available, and the broker supports various payment methods. Xtrade also provides educational tools to enhance traders' knowledge and skills. On the downside, there may be delays in withdrawal processing, particularly when involving third-party payment methods. Besides, it is important to note that spreads may vary and some non-trading fees may apply. Overall, Xtrade presents an opportunity for traders to explore the financial markets, but it is important to consider both the advantages and limitations before engaging in trading activities.

Frequently Asked Questions (FAQs)

Q 1: Is XTrade regulated?
A 1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).
Q 2: Does XTrade offer demo accounts?
A 2: Yes.
Q 3: Does XTrade offer the industry-standard MT4 & MT5?
A 3: No. Instead, it offers a WebTrader.
Q 4: Does Xtrade charge commission
A 4: No. Xtrade does not charge commissions, only spreads are calculated.
Q 5: What is the minimum deposit for XTrade
A 5: The minimum initial deposit to open an account is $250.
Q 6: Is XTrade a good broker for beginners?
A 6: Yes. XTrade is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.
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 xtrade, 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 xtrade and ironfx are, we first considered common fees for standard accounts. On xtrade, the average spread for the EUR/USD currency pair is -- pips, while on ironfx the spread is --.

Which broker between xtrade, 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.

xtrade is regulated by ASIC,FSC,CYSEC. ironfx is regulated by CYSEC,FCA,FSCA.

Which broker between xtrade, 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.

xtrade provides trading platform including VIP,Platinum,Premium,Standard and trading variety including --. 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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