IronFX Trading Account – Review, Types, Process, Benefits, Charges & more
Find out all details about IronFX Trading Account here.
It is always a tricky thing to choose the right forex broker. You need to look at so many different aspects of the brokerage house.
However, amongst all, you need to first check whether the trading account of the broker is suitable for your trades or not.
So, here in this article, we will discuss one of the world’s top forex brokerage houses IronFX and its trading account.
The features of the IronFX online trading will be discussed in detail. Then we will cover the benefits you can have using this account.
We will cover the account opening charges and commissions as well in this article.
So, everything you need to know about the IronFX trading account will be covered in this article in detail.
IronFX Trading Account and Benefits
IronFX is quite a new brokerage house in the forex industry.
Though it is known as a forex broker it has other assets as well for trading which you will read in the later section of the article.
It started its journey ten years back in 2010 in the city of Cyprus. It is regulated by ASIC, FCA, and also by CySEC. The founder of the brokerage house is Markos A. Kashiouris.
This brokerage house is a privately held firm with around a hundred to two hundred employees working in different departments.
Benefits of IronFX trading account are
- First and foremost, IronFX has very nominal account charges. There is no charge if there is no activity in the account as well. This is known as inactivity charge which IronFX doesn’t charge from its customers.
- You get access to MT4 which is one of the highest-rated, popular trading software. It is one of the highly advanced trading platforms. It is highly user-friendly at the same time. Also, it is useful for both beginners as well as professional traders.
- There are more than three hundred instruments that you can trade with the IronFX trading account. These financial instruments are segregated into six different asset classes. The asset classes that you can trade with IronFX are shares, currencies, commodities, indices, metals, and futures.
- You can deposit money into your account to increase your margin for trading easily with your bank account being interlinked with the trading account. Similarly, when you want to withdraw, it is simple as well. You can withdraw in few simple steps from the trading account to your bank account. There is a tricky process or waiting time.
- This broker charges exceptionally lower trading charges compared to most brokers in this space.
- It has more than 1200000 clients all over the world. It has its presence in 180 countries at present.
- The customer support of this firm is exceptional. There are thirty different languages that one can choose to communicate with the customer care executive. The customer care support is available 24 hours for five days a week.
- There are more than forty prestigious awards in the kitty of IronFX.
Fill up the Form – Open Forex Trading Account Now!
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IronFX Trading Account Charges
|Trading Account Charges|
|Account Type||Standard Account||Premium Account||VIP Account||Zero Fixed Account|
|Initial Deposit||0.01||its 0.01||0.01||0.01|
The charges are quite important to understand.
The charges differ from one account type to another. While for the standard, premium, and VIP account, there is no commission, for the Zero Fixed account, there is.
If you are opting for the Zero Fixed account then you need to pay commission on the forex trading. The commission is given in the table above for each of the currency pairs.
As for the EUR/ USD, it is $18 per lot. This means for trading each lot of EUR/USD you need to pay $18.
Types of IronFX Trading Account
|Types of Trading Account|
|Trading Desk Type||Bank, ECN, STP|
|Maximum Leverage||Upto 1:1000|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||No|
|Suitable for Weekly trading||No|
|Suitable for swing trading||No|
There are four types of IronFX trading account which are as follows –
The standard account is the basic account that provides great leverage of 1000 times.
The spread is also 1.8 pips.
There is no commission and the minimum lot you need to trade is only 0.01.
For this type of account, you need to pay no commission.
Even then you get 1000 times leverage which is huge. There are 1.6 pips spread levels and here also the minimum lot size is 0.01.
With a VIP account you get a similar spread of 1000 times but the spread is 1.4 pips.
The minimum lot size you need to invest is again 0.01. There is no commission on this account as well.
Zero Fixed Account
Zero Fixed account is the only account where the brokerage house charges commission as mentioned above as well.
The spread in this account is zero and the minimum lot you need to buy is again 0.01. The leverage you can get in this account is up to 500 times.
IronFX Account Opening and Trading Process
The account opening process for IronFX is hassle-free and completely online. You can also complete your LYC online.
IronFX Account opening process
- First click on the option for opening an account
- Fill in the form with the details like name, address, contact details
- Click on submit
- Then you need to upload the documents to complete your KYC process
- If the documents are verified and approved by the brokerage house, then your account opening application will be fulfilled.
- Then you will receive the login id and password for your account.
IronFX Login process
Once you have the login id and password all you need to do is to download the trading platform.
You can log in to any one of them or all – trading terminal, mobile platform, web-based browser, etc.
Just click on the login option and enter the id and password. Then you will be able to see the dashboard.
On the dashboard, you can customize the trading platforms according to your requirement.
You can add the asset class that you want to trade most of the financial instruments under it. You can set up multiple alerts and notifications.
The process for trading using the IronFX trading account is easy.
You can directly trade from the dashboard of the trading platforms.
All the information on the trading accounts is available on the dashboard.
Whether you want to check your positions, orders, holdings, and others, everything within a few clicks you can access.
Find Different Trading Account Types of Forex Brokers
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|Oanda Trading Account||PrimeXBT Trading Account||Thinkmarkets Trading Account|
IronFX Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
The IronFX trading account is a feature-rich account. The primary and important features are –
- Educational and learning resources for your learning and knowledge of new concepts of the market
- Copy or social trading lets you trade as per the trade of famous traders.
- Trade signals, alerts
- There are highly advanced trading terminals, mobile platforms that you can avail yourself of with the trading account of IronFX.
- There is no commission on any of the asset classes except the currencies. So, you can trade all other assets for free.
Check out Online Trading Services of FOREX Brokers
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IronFX Trading Account – Conclusion
IronFX trading account comes with multiple benefits whether it is no commission on most of its accounts type or multiple trading features.
While choosing the type of trading account, you need to consider the charges, initial deposits, commissions, and other factors.
IronFX Online Trading – FAQs
Here is the list of Faqs related to the IronFX Online Trading:
Does IronFX provide Online Trading?
Yes, you can access the IronFX online trading feature easily with the trading account they offer.
You can trade online any assets, instruments without any hassle.
What are the Commission Charges in IronFX?
There is no commission on standard, premium, and VIP accounts.
However, with the Zero Fixed account, there is a commission.
The commission is different for each currency pair.
- $18/Lot on EUR/USD
- $18/Lot on USD/JPY
- $23/Lot on GBP/USD
- $23/Lot on USD/CAD
- $28/Lot on EUR/CHF
- $23/Lot on EUR/GBP
- $23/Lot on AUD/USD
- $43/Lot on GBP/CHF
- $28/Lot on NZD/USD
- $28/Lot on EUR/JPY
- $43/Lot on GBP/JPY
- $23/Lot on USD/CHF
Does IronFX provide Demo account Trading?
Yes, IronFX provides a Demo account for the clients.
With the Demo account, you can easily practice trading if you are new to this arena.
Is trading Free at IronFX?
It is free in the standard account, VIP account, and premium account.
In a Zero Fixed Account, it is chargeable.
Does IronFX provide Spot Metals Trading?
Yes, with an IronFX trading account you can do spot metals trading.
The features help you trade metals at their market price which is not available with many brokers.
Metals are mainly traded as futures contracts but spot metals trading is a unique concept.
What are Spot Metals Trading Charges at IronFX?
No, there is no commission on metals trading.
As IronFX charges no commission, except for currencies, thus there are no charges you need to pay for the metals.
Does IronFX provide Stock Trading?
Yes, with all the accounts of IronFX, you can trade shares of multiple companies.
There are multiple shares of all the sectors and thus you can diversify your portfolio with different assets as well as according to sectors.
What is spread at IronFX?
- standard account it is 1.8 pips
- Premium Account it is 1.6 pips
- VIP Account it is 1.4 pips
- Zero Fixed Account – 0 pips
So, it is evident that the Zero Fixed account has the lowest spread and thus can benefit you the most.
Is IronFX safe for trading?
Yes, with IronFX, you get the best security and safety measures.
They provide high-end security measures to protect all your transactions.
Moreover, the assets that you have invested in are also safe with them.
Does IronFX provide Trading Tips?
Yes, IronFX has a research and advisory department.
They are dedicated to finding new opportunities in the market for the Iron FX clients.
They share multiple tips and suggestions when you open an IronFX trading account.
Fill up the Form – Open Forex Trading Account Now!
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