Know This About the IronFX Broker
Published June 15, 2021.
Amidst the surge of online brokers taking the market by storm in recent years, some stand out more than others. IronFX offers a great fit for beginner traders to intermediate skill levels, with flexible account types that suit many investments and trading styles.
Founded in Cyprus in 2010, this broker has expanded into more than 180 countries and is regulated by the European Union Regulations.
IronFX's diversity is pretty impressive, with a tiered structure that includes floating vs. fixed and commission vs. no commission fee schedules. At the moment, they offer over 200 tradable financial instruments across many markets like Forex, Indices, Shares, Metals, Futures, Commodities, and Cryptos.
Regarding this broker's investment options, its spreads start at 0.7 pips for the major currency pairs, while the average is 1.2 pips. Of course, spreads do widen during periods of volatility and low trading volume.
These numbers can be deceiving, given the wide variety of account options, fees, and routing choices. Still, spreads can drop significantly on major Forex pairs between Micro and VIP tiers, but minor pairs show no difference.
Moreover, the brokerage offers flexible leverage up to 1:1000, enabling traders with a limited bankroll to take larger positions.
How The Broker Works
This is an online broker that uses the MetaTrader 4 trading platform. The software is considered one of the best in the industry, especially for standard forex trading, promising easy-to-use features, and straightforward portfolio management.
Moreover, the IronFX academy provides impressive educational features for new and intermediate traders: educational videos along with an encyclopedia and five e-books, with detailed courses across various topics that include market analysis, trading psychology, strategies, signals, CFDs, and technical indicators.
They also provide 24/5 support, email, and live chat for potential and existing clients in over 180 countries and in 30 different languages.
All in all, IronFX is a good broker for novices and intermediates. They offer the reliable MT4 trading platform, a good range of assets, including competitive spreads and leverage levels.