IronFX Broker Review 2024

IronFX broker is one of the prominent and best Forex brokers. It was founded in 2010 and has a decade of experience in the financial markets. With a strong foundation since its inception, this broker has gained a reputation as a trustworthy intermediary for traders worldwide.

IronFX, headquartered in Limassol, Cyprus, strategically operates from this European location and benefits from a favorable regulatory environment and membership in the European Union. The broker is regulated by various financial authorities in different jurisdictions and ensures commitment, security, and transparency. This regulatory framework enhances the position of IronFX Broker as a reliable and reputable platform for traders seeking a strong and beneficial trading experience. Stay tuned with Brokerland‘s broker reviews to provide you with all you need to know about one of the best forex brokers for beginners and experienced traders.

Review and Introduction of IronFX Broker

IronFX broker has over 1.2 million customers from 180 countries around the world, transforming it into a leading Forex and CFD broker since its establishment in 2010. Traders receive the reliable MT4 trading platform and benefit from its low trading fees, including a zero-spread account option.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61.8% 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.

headquarter Limassol, Cyprus
Regulation ASIC، CySEC، FCA
Year Founded 2010
Execution ECN/STP، market maker
Minimum Deposit 100 USD
Trading Platform MT4
Forex Signal
US Traders
Swap-free Account
Segregated Accounts
Managed Accounts
Support Hours 24/5
Customer Support
Demo Account
Minimum Raw Spread 0.0 pips
Minimum Standard Spread 0.3 pips
Minimum Forex Commission 18 $ per 1.0 standard lot
Cashback Discounts
Withdrawal Fees
Financial Funding Methods 7

Regulations and Security

Trading with a regulated broker restricts the potential for fraud and misconduct. Therefore, it is always recommended for traders to review the regulations and open an account with a broker that has the necessary licenses. IronFX provides its customers with services under the regulation of three entities, creating a secure environment.

Regulating Country
Regulatory Body
Regulatory License Number
Cyprus Securities and Exchange Commission
United Kingdom
Financial Conduct Authority
 South Africa

Financial Sector Conduct Authority


Is IronFX a legal and safe broker?

IronFX Broker has over 10 years of experience and segregates client deposits from corporate funds. It offers protection against negative balances through its three subsidiary companies under its supervision. The combination of these features makes it an ideal and secure broker for starting Forex trading.


When evaluating a broker, transaction costs can be one of the most determining factors because they directly impact profitability.


The Absolute Zero account, with no commissions, offers minimum spreads ranging from 0.3 to 0.5 pips or $3.00 to $5.00 per standard lot for major currency pairs, making it one of the most competitive types of trading accounts available at IronFX Broker. Since the minimum deposit for most types of accounts is $100, the Absolute Zero account is highly recommended.

Withdrawal Fees
Commissions / Spreads Both
Withdrawal Options Various banking methods, Visa and Mastercard, WebMoney, Perfect Money are accessible.
Deposit Options Various banking methods, Visa and Mastercard, WebMoney, Perfect Money are accessible.

The minimum trading costs for EUR/USD at IronFX are as follows:

Average Spread
Commission per round lot
Cost per 1.0 standard lot
1.8 pips (Absolute Zero)
0.00 $
18.00 $
2.2 pips (Live Fixed)
0.00 $
22.00 $
0.0 pips (Live Zero Fixed)
36.00 $
36.00 $
1.6 pips (Zero Commission)
0.00 $
16.00 $
0.3 pips (Absolute Zero)
0.00 $
3.00 $

The most overlooked transaction costs are typically the swap rates in leveraged positions held overnight. Depending on your trading strategy, such as the MACD and Stochastic strategies, these rates can become the most significant fees in each trade. We always recommend that traders examine their overall transaction costs before making decisions.

MT4 traders can access swap rates from their platform by following these steps:

  1. Right-click on the symbol you’re interested in within the Market Watch window and select “Specification.”
  2. Scroll down until you see “Swap Long” and “Swap Short.”

Below is a list of sample transaction costs for buying and selling EUR/USD, holding the position for one night and seven nights in an Absolute Zero account with no commission:

For taking a buy/sell position with a standard lot of 1.0 in EUR/USD, with a minimum spread, and holding it overnight at IronFX, the costs are as follows:

Minimum Spread
Commission per round lot
Swap Long
Swap Short
Total Transaction Costs
0.3 pips
0.00 $
-11.75 $
14.75 $
0.3 pips
0.00 $
2.01 $
0.99 $
  • For taking a buy/sell position with a standard lot of 1.0 in EUR/USD, with a minimum spread, and holding it for one week, the costs are as follows:
Minimum Spread
Commission per round lot
Swap Long
Swap Short
Total Transaction Costs
0.3 pips
0.00 $
-82.25 $
85.25 $
0.3 pips
0.00 $
14.07 $
-11.07 $

Important Note: IronFX offers positive swap rates on eligible assets, meaning traders can earn money for holding leveraged positions overnight. Traders should consider these swap rates and can typically avoid them by closing positions before the cutoff time, usually around 17:00 EST.

Trading Instruments at IronFX

This broker offers a wide range of assets, exceeding 300 trading instruments. They highlight their availability of over 80 Forex currency pairs, making them an ideal Forex broker. Additionally, IronFX provides traders with 15+ commodity CFDs, 20+ index CFDs, 30+ futures contracts, and 150+ stock CFDs.

  • Forex Currency Pairs: ✅
  • Cryptocurrencies: ❌
  • Commodities: ✅
  • Metals: ✅
  • Indices: ✅
  • Stocks: ✅
  • CFDs: ✅
  • Oil: ✅
  • Gold: ✅
  • Bonds: ❌
  • ETFs: ❌
  • Options: ✅
  • Stock CFDs / DMA Stocks: ✅
  • Maximum Retail Leverage: 1:30
  • Maximum Pro Leverage: 1:30

Trading Instruments at IronFX

Leverage at IronFX Broker

Leverage at IronFX depends on the subsidiary’s operational and asset class. Forex traders in South Africa can receive a maximum leverage of 1:500, while those in Cyprus and the UK receive 1:30. Maximum leverage for commodities ranges from 1:10 to 1:20, and for stock CFDs, it goes up to 1:20. Traders should ensure that they manage risk to prevent significant losses and always consider the risk-to-reward ratio. IronFX provides protection against negative balance, meaning traders cannot lose more than their deposits.

The trading hours for various assets at IronFX are as follows: (Trading Hours (GMT + 2))

market From To
Forex Monday 00:00 Friday 24:00
Commodities Monday 01:00 Friday 24:00
European Stocks Monday 10:00 Friday 18:30
US Stocks Monday 16:30 Friday 23:00قابل توجه:

Unlike Forex, which offers 24-hour trading opportunities due to various Forex sessions, and commodities that mainly trade 24/5, stock markets do not operate in the same manner as seen in the table.

Types of Accounts at IronFX

IronFX Broker offers eight account options, with a minimum deposit requirement of $100 for most of them. Let’s explore the types of these accounts and their features.

It provides two demo accounts, Demo Floating Spread and Demo STP/ECN Absolute Zero. The first one is entirely customizable, while the latter is only available as a USD option with a default balance of $100,000, where traders can select their desired leverage. This broker doesn’t list any expiration time, which is excellent as all demo traders require unlimited access.

  • Live Floating/Fixed Spread Accounts at IronFX Broker
CFD Instruments Forex, Metals,
Indices, Commodities,
Futures, Shares
Forex, Metals,
Indices, Commodities,
Futures, Shares
Forex, Metals,
Indices, Commodities,
Futures, Shares
Forex, Metals,
Indices, Commodities
Minimum Lot Size 0.01 0.01 0.01 0.01
Spread Floating from 1.6 Fixed to 2 Floating from 1.4 Fixed to 1.8 Floating from 1.2 Fixed to 1.6 Fixed to 0
Commission No No No Yes
Flexible Leverage Up to 1000 1000 1000 500
Stop out 20% 20% 20% 50%
Swap free/Islamic Account Option Yes Yes Yes Yes
Dedicated Account Manager Available 24/5 24/5 24/5 24/5
Dealing Department Transaction Hotline Yes Yes Yes Yes
  • CSTP/ECN Accounts at IronFX
CFD Instruments Forex, Metals,
Indices, Commodities
Forex, Metals,
Indices, Commodities
Forex, Metals,
Indices, Commodities
Minimum Lot Size 0.01 0.01 0.01
Spread from 0.9 0 0
Commission No Yes No
Flexible Leverage Up to 500 500 200
Stop out 50% 50% 50%
Swap free/Islamic Account Option No No No
Dedicated Account Manager Available 24/5 24/5 24/5
Dealing Department Transaction Hotline Yes Yes Yes

Trading Platforms

IronFX broker offers the main trading platform, MetaTrader 4, which is a leading platform for algorithmic trading, as we discussed in forex artificial intelligence. They also mention that MT5 will be available soon.

Platform Languages English, Spanish, Arabic, Italian, French, Turkish, German, Chinese, Russian, Portuguese, Dutch, Greek, Thai, Swedish, Polish, Hungarian
 Operating System Compatibility Mac, Windows, Mobile, Web, iPhone iOS, iPad iOS
Mobile Alerts
Email Alerts
Guaranteed Limit Orders
Guaranteed Execution
One-Click Execution
OCO Orders
Margin Interest
Web-Based Trading
Mobile Tradin
Proprietary Platform
Auto Trading
Guaranteed Stop Loss

IronFX Broker Awards

IronFX broker has received multiple awards for various aspects of its competitive trading environment. Some of the most recent awards include:

  • Best Online Trading Platform (2019)
  • Best Global Currency Trading Online Platform (2019)
  • Broker of the Year (2019)
  • Most Trusted Forex Broker – Global (2019)
  • Leading Global cruptocurrency Trading Experts (2019)
  • Outstanding Provider of Online Trading Solutions (2019)
  • International Markets – Best Forex Operator of the Year (2020) by Forex Iron FX
  • Best Online Trading Company and Financial Services (2020)
  • Best International Forex Online Trading Platform (2021) / ACQ5
  • International Currency Trading Online Platform of the Year – Iron FX (2021) / ACQ5
  • Outstanding Online Trading Partner Program (2021) / AI GLOBAL MEDIA LTD
  • Outstanding Online Trading Partner Program (2022) / Global Awards 2022
  • Best Educational Broker for 2023 by THE EUROPEAN AWARDS

IronFX Broker Awards

Customer Support

IronFX broker provides customer support 24/5 in languages including Arabic, Bulgarian, Chinese, Czech, Dutch, English, French, German, Greek, Hebrew, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Spanish, Turkish, Vietnamese, and more. They also offer Persian and Hindi in their FAQ section and provide live chat with quick response times for essential inquiries.

Support Hours ۲۴/۵
Customer Support Email, Chat Online
Customer Support Languages English, Persian, Spanish, and more…

Minimum Deposit

The minimum deposit at IronFX broker for most accounts is $100, except for the Zero Spread option, which requires $500.

Payment Methods at IronFX Broker

This brokerage supports various payment methods, including bank transfers, credit/debit cards, Skrill, Neteller, FasaPay, and Perfect Money.

Deposits and Withdrawals

IronFX broker processes all financial transactions for verified customers. The minimum deposit is $100, which is also the minimum withdrawal amount. The processing time depends on the geographical location and payment processors used, and the broker processes them within one to ten business days. There are no fees for domestic deposits and withdrawals, except for scalpers who request withdrawals without making a trade, in which case a 3% fee applies.

Traders also need to consider third-party processing fees and currency conversion costs, just like with any other broker. Only verified accounts can deposit and withdraw, and the name on the payment processor must match the account name at IronFX. Some payment processors may have geographical restrictions, but the broker’s support department lists only those available to traders.

Summary of IronFX Broker Review

The trading environment at IronFX broker is very popular in the Absolute Zero account due to its competitive trading fees. Additionally, it is an ideal broker for forex traders because of its above-average selection of currency pairs, a well-structured trading environment, and a dedicated customer support team, making it an excellent choice for registration.

Frequently Asked Questions

Is IronFX broker regulated?

Yes, various entities within the IronFX Group hold regulatory licenses in Cyprus, the United Kingdom, and South Africa.

How long does a withdrawal from IronFX broker take?

Withdrawals from IronFX can take between one to ten business days, depending on the geographical location and payment processors used by traders.

Is IronFX broker legal?

It is a legal broker with three subsidiary companies under regulation and a track record of over ten years in operations.

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