IRON FX RATING -OVERALL SCORE {77.67%} (?)

 

IronFx Offices in CyprusIronFx is an STP Forex broker based in Curpus and regulated by CySEC. IronFX maintains offices in 8 countries worldwide, providing customer support in over 45 different languages

■ Deposit Requirements: 100 USD

■ Funding: Cards | Bank Wire | Neteller | Skrill | WebMoney | Yandex Money | Fasa Pay | Qiwi | More Local Fund Methods

■ Platforms: MetaTrader-4 | MetaTrader-5 | MT4 MultiTerminal | CTrader | Mobile Traders

■ Customer Support: English | Arabic | Russian | Spanish | Chinese | French | Greek | German | Italian | Japanese | Korean | Romanian | Persian | More Languages

» IronFx Website

Chart: IronFx Basic Ratings (Based on ForexRating Formula 5.0)

The RatingFormula 5.0 gives a good rating as concerns trading options (86.6%) and technology (100.0%), but a poor rating as concerns IronFx trading cost (59.8%). As concerns trading styles, IronFx seems a good choice for Swing Traders (77.4%). As concerns the three levels of trading experience, IronFx is a good choice for Forex beginners (80%).

Chart: IronFx Special Ratings

IRON FX RATING SUMMARY

The following table contains IronFx's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.

FOREX BROKER RATING (MAX 100%)
  • IRON FX FUNDS SAFETY
73.8%
  • IRON FX TRANSACTION COST
59.8%
  • IRON FX TRADING OPTIONS AVAILABLE
86.6%
  • IRON FX TECHNOLOGY
100.0%
  • OVERALL RATING
77.67%
TRADING EXPERIENCE  
  • IRON FX FOR FOREX BEGINNERS
80.0%
  • IRON FX FOR ADVANCED FOREX TRADERS
68.1%
  • IRON FX FOR PROFESSIONAL FOREX TRADERS
63.4%
TRADING STYLE  
  • IRON FX FOR INTRADAY TRADERS
68.0%
  • IRON FX FOR SWING TRADERS (MID-TERM)
77.4%
  • IRON FX FOR CARRY TRADERS (LONG-TERM)
50.6%

IRON FX DETAILED RATING REVIEW

IRONFX RATING ANALYSIS    
IRONFX TOTAL RATING   100.0%  
      77.67% FULL ANALYSIS
A. IRONFX  SAFETY OF FUNDS MAX WEIGHT→ 28.0% 20.67% Rating the IronFx Safety
A.1 IronFx License / Regulation FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating 10.0% 6.50% IronFx is regulated by CySEC = 6.0% rating, MiFID Rating = +0.5% | Total = 6.5%
A.2 IronFx Client Compensation in Case of Insolvency Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
5.0% 4.00% IronFx offers client compensation (in case of insolvency) up to 20,000 EUR through ICF = 4.0% rating
A.3 IronFx Country of Headquarters UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand  = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% 5.0% 3.00% IronFx maintains headquarters in Cyprus = 3.0% rating
A.4 IronFx Years in the Market 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% 5.0% 4.00% IronFx was found in 2010 (5-10 years) = 4.0% rating
A.5 IronFx Client Account Segregation Client bank account segregation =  2.5% rating | No = 0.0% 2.5% 2.50% IronFx provides client bank segregated accounts = 2.5%
A.6 IronFx Web Ratings ForexPeaceArmy Rating = 0.5% rating 0.5% 0.17% IronFx ForexPeaceArmy Rating is 1.7/5.0 = 0.17% rating
A.7 (+) IronFx ADJUSTING RESULTS        
A.7.1 IronFx Corporate Size 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating 1.0% 0.50% IronFx handles over than 500,000 accounts = 0.5% Rating
B. IRONFX TRANSACTION COST MAX WEIGHT→ 28.0% 16.75% Rating the IronFx Transaction Cost
B.1 IronFx spread on EURUSD <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% 7.0% 2.00% Typical EURUSD spread is 1.80 pips = 2.0% rating
B.2 IronFx spread on GBPUSD <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 1.50% Typical GBPUSD spread is 2.2 pips = 1.5% rating
B.3 IronFx spread on USDJPY <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 1.50% Typical USDJPY spread is 2.2 pips = 1.5% rating
B.4 IronFx Trade Commissions No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating |  < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating  7.0% 7.00% IronFx does not charge trading commissions on the tested account type = 7.0%
B.5 IronFx Overnight (SWAP) rates Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% 2.0% 0.25% IronFx rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$5.2 | IronFx rollover on a Short EURUSD trade worth 1 lot ($100,000) is +$0.25 | Total cost in absolute value is $4.95, rating = 0.25%
B.6 IronFx Commissions on Funding No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating  2.0% 2.00% IronFx does not charge withdrawal commissions = 2.0% rating
B.7 IronFx Inactive Fees No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating 1.0% 1.00% IronFx does not charge Inactive Fees  = 1.0% rating
B.8 (+) IronFx ADJUSTING RESULTS        
B.8.1 IronFx Execution Model ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating 2.0% 1.50% STP Order Execution Model = +1.5% rating
C. IRONFX TRADING OPTIONS MAX WEIGHT→ 28.0% 24.25% Rating the IronFx Options for Traders
C.1 IronFx Forex Asset Index 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+  Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating 8.0% 8.00% IronFx Provides 80 Forex Pairs = 8.0% rating
C.2 IronFx CFDs CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% 2.5% 2.50% IronFx offers CFD trading = 2.5% rating
C.3 IronFx CFDs on Futures CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating 1.5% 1.50% IronFx Offers CFDs on Futures = 1.5% rating
C.4 IronFx Free Practice Account Practice Account = 2.0 % rating, No = 0.0 % rating 2.0% 2.00% IronFx Provides a free Demo/Practice account = 2.0% rating
C.5 IronFx Trading Leverage Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating 1.0% 1.00% 500:1 max Trading Leverage = 1.0% rating
C.6 IronFx Bonus/Rebate Promotions   5.0%    
C.6.1 IronFx Welcome Bonus (%) Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating   2.00% 40% Welcome Bonus (Credit Bonus) = 2.0% rating
C.6.2 IronFx Trading Rebate (%) Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating   0.00% IronFx Offers no trade rebates = 0% rating
C.7 IronFx Min. Account Size Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating 2.0% 2.00% The min. deposit amount is $100 = 2.0% rating
C.8 IronFx Number of Deposit Methods For every deposit method = 0.5% rating | max = 5 methods 2.5% 2.50% IronFx offers 5+ deposit methods = 2.5% rating
C.9 IronFx Number of Withdrawal Methods For every withdrawal method = 0.5% rating | max = 5 methods 2.5% 2.50% IronFx offers 5+ withdrawal methods = 2.5% rating
C.10 Minimum Stop-Order Levels (in pips) 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating 1.0% 0.00% IronFx offers 5 pips minimum stop-out order distance = 0.00% rating
C.11 (+) IronFx ADJUSTING RESULTS        
C.11.1 Offering more than 100 Forex Pairs Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating 1.0% 0.00% 80 Forex pairs = +0% rating
C.11.2 Paying Interest on unused funds Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating 0.5% 0.00% No = +0%
C.11.3 IronFx Contests Contests = 0.25 % rating | No = 0 % rating 0.25% 0.25% IronFx offers a Demo Account Competition = +0.25% rating
D. IRONFX TECHNOLOGY MAX WEIGHT→ 16.0% 16.00% Rating the IronFx Technological Efficiency
D.1 IronFx Trading Platforms Availability For every Platform = 1.0% | max = three (3) platforms 3.0% 3.00% IronFx offers MT4, MT4 Multiterminal, and Webtrader = 3.0% rating
D.2 Trading-On-Charts Offering Trading-On-Charts = 1.0 rating | No=0% 1.0% 1.00% IronFx is offering 'Trading-On-Charts' = 1.0% rating
D.3 IronFx Slippage on Execution Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating 1.0% 0.00% IronFx Slippage on execution is 2.6 pip = 0.0% rating
D.4 IronFx Automated Trading Allowance Automated Trading is Allowed = 2.0 % rating  / No = 0 % rating 2.0% 2.00% IronFx allows automated trading = 2.0% rating
D.5 IronFx MT4 Platform Availability MT4 is Provided = 2.0 % rating / No = 0 % rating 2.0% 2.00% IronFx offers the MT4 platform = 2.0% rating
D.6 IronFx Mobile Apps iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points 2.0% 2.00% IronFx offers an MT4 App for iPhone, Windows, and Android = 2.0% rating
D.7 IronFx Allowing Scalping / Hedging Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating 1.0% 1.00% IronFx allows both Scalping and Hedging = 1.0% rating
D.8 IronFx Customer Service 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating 4.0% 4.00% IronFx offers 24/7 Customer support = 1%, via eMail, Phone, Live Chat = 3.0% | Total rating is 4.0% (max)
D.9 (+) IronFx ADJUSTING RESULTS        
D.9.1 IronFx PAMM / MAM Accounts PAMM / MAM Accounts = +0.5% rating | No = 0 % rating 0.5% 0.50% IronFx is offering PAMM accounts = +0.5%
D.9.2 IronFx Free VPS Free VPS = +0.5% rating | No = 0 % 0.5% 0.50% IronFx is offering a free VPS hosting service (new and existing clients who deposit a minimum of $5,000) = +0.5%
D.9.3 IronFx API Trading API trading = +0.5 % rating | No API = 0.0 % rating 0.5% 0.00% IronFx is not offering API trading = +0.0%
    TOTAL IRONFX RATING 77.67%  

 

IRONFX LICENSES AND LEGAL INFORMATION

IronFx maintains offices in 8 countries and serves customers from 180 countries.

■ IronFx is based in Cyprus and controlled by the European MiFID

■ IronFx is regulated by CySEC (Cyprus), Registration Number: 125/10

■ IronFx is registered with more regulatory bodies:

■ IronFx is a member of ICF and covers up to 20,000 EUR per client in case of corporate insolvency

 

 

MORE RATINGS: » XM | » HOTFOREX | » FXGLOBE | » TALLINEX (US TRADERS)

 

IronFx Rating Review

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