IRON FX RATING -OVERALL SCORE {77.67%} (?)
IronFx 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
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%).
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%) |
|
73.8% |
|
59.8% |
|
86.6% |
|
100.0% |
|
77.67% |
| TRADING EXPERIENCE | |
|
80.0% |
|
68.1% |
|
63.4% |
| TRADING STYLE | |
|
68.0% |
|
77.4% |
|
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:
- ASIC, 417482
- DFSA (Dubai), F002432
- FCA (UK), 585561
- FSB (South Africa), 45276
- UCRFIN, 5
■ IronFx is a member of ICF and covers up to 20,000 EUR per client in case of corporate insolvency
■ FOREX RATINGS: ► RoboForex Rating | ► TitanFx Rating | ► FXDD Rating | ► IC Markets | ► FxOpen | ► FP Markets | ► FBS Group | ► AXI Rating
■ COMPARE: » Brokers Directory | » Automated Trading Systems
□ IronFx Rating Review
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