IronFX review | Reputation and Safety

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IronFX is mainly characterized by high swap points, so it is suitable for medium- and long-term trading, and it is possible to trade ECNs with free trading fee and narrow spread.

However, we can not recommend IronFX very much on our site, as it is a company with extremely high credit risk, with past demonstrations in China and litigation problems occurring around the world.

With a small amount of speculative trading, the damage can be minimized if anything happens, but the first deposit is cheap for DD accounts, that is, relative trading.

Given that ECN accounts are high on first deposit and medium- to long-term trading with a swap target requires a large amount of surplus funds, it is necessary to deal with high credit risk in order to trade in favorable conditions.

Pros

  • Leverage up to 1,000 times
  • Free fee for ECN account
  • Spread is narrow
  • Industry-leading swap height
  • Zero cut adopted
  • Quality of support is high
  • With 100% deposit bonus

Cons

  • Credit risk is high
  • Trust maintenance and insurance not applicable
  • STP / ECN switches automatically

As you can see, there are others far better FX vendors without having to choose IronFX, which has a high credit risk.

The official site of IronFX is here

IronFX Safety

Company Notesco Financial
Services Limited
8 safe UK limited Balvento Limited GVS (AU) Pty Limited
Location Cypress UK Bermuda Australia
Finance license Cyprus Stock Exchange
Commission(CySEC)
UK Monetary Behavior
Watcher(FCA)
Bermuda financial
authorities(BMA)
Australia Securities
Investment Committee (ASIC)
Japanese account
creation
× ×
Leverage Up to 30 times Up to 30 times Up to 1,000 times Up to 500 times
Bonus × ×
Asset guarantee × × ×
Official site IronFX
Cypress
IronFX
UK
IronFX
Bermuda
IronFX
Australia

Founded in Cyprus in 2010, IronFX currently offers services at its four subsidiaries, each of which has significantly different guarantee systems such as maximum leverage, bonus status, and trust protection.

There is also a bonus at 1,000 times the maximum leverage for Bermuda accounts but because of British accounts known for being strict on cash management, regulation and supervision FCA license is excluded, and does not offer asset guarantee system by a third party, which will be described later. Therefore, there are concerns in terms of reliability.

It is possible to open a UK account by requesting support center individually, but there is no bonus with a maximum leverage of 30 times.

Basically, think of the UK account as secure and less speculative, the Bermuda account as speculative and less secure.

You can not open an account in Australia unless you reside in Australia.

Therefore, in this article, we will basically discuss the Bermuda account.

 

Credit risk is extremely high

Given the history and current state of IronFX, theoperation can be expected to be quite urgent, and credit risk is extremely high.

First of all, there are many people who know that the media has been widely mentioned, but China's IronFX Group company “Global Investment” caused about 3 billion yen of unpaid customer funds in 2014, and a Chinese trader is attacking the office.

"Return money", IronFX Chinese trader raids office

In August 2014, a Chinese television program reported on IronFX's operation, a 20-minute survey report stating that the company's Chinese affiliate members had not paid the funds to be paid. Finally, the Chinese traders began protesting.

Several Chinese websites addressed two violent protests that took place last week at the IronFX office in Shanghai. These protests were catastrophes that violently attacked company executives.

According to the waihuiTV website, a customer who brought a knife to IronFX's office required an officer to allow his withdrawal by the next day, otherwise he threatened to kill. According to the report, the customer actually received the money the next day.

Source: Forex / Magnet Japanese Edition

 

According to the case, IronFX claims that "these complaints are clearly defamatory", but according to the sources, the contents of these reports are considered to be almost true.

Due to this impact, IronFX closed its Chinese office and fired over 600 local employees.

The current IronFX strives to restore trust by acquiring an FCA license for a UK account.

However, IronFX is an undeniable fact that it is a company that has caused many problems such as such incidents and sudden withdrawal from Japan in the past.

We can say that IronFX is either "a company with high hopes for the future" or "a dangerous company who does not know what is happening".

For the time being, it is better to carefully consider full-fledged trades.

 

Separate management supported, trust maintenance is not covered

Under IronFX, UFX, Bank of America Merrill Lynch (BAML), BNP Paribas, and other leading financial institutions clearly segregate IronFX's assets and customer assets.

With a UK account, the Financial Services Compensation Organization (FSCS) Compensation Fund and Lloyds Bank insurance products can provide up to £1 million per capita guarantee.

Please note that Bermuda accounts do not have any property guarantees by third parties.

 

IronFX reviews

Next, let's look at some of the word of mouth and reputation.

Word of mouth/ Reputation

Among the troubled traders and bad reputation traders, support is provided for “frauded traders who failed”, “lossy traders”, “traders who want to clear up the mess”, “the traders who are willing to keep the rules” Please note that some traders are not eligible.

SCAM certified

FPA (Forex Peace Army) is a bulletin board only. The rates, posted content, "SCAM certified" etc. of cautionary vendors are not guaranteed at all.

So far, I mentioned IronFX's high credit risk, but it is SCAM certified (a fraudster certified) in the largest FX bulletin board " FPA (Forex Peace Army)."

If you look at the latest comments in 2018, there are many reports of deposit and withdrawal problems, and more than 160 civil cases have been filed around the world, mainly in Europe.

 

Features, Pros and Cons of IronFX

Live
fluctuates
Live
fixed
Live
zero spread
STP/ECN
No handling fee
STP/ECN
zero spread
STP/ECN
Absolute Zero
Transaction
Cost
Account creation
maintenance fee
Free
Transaction fee Free Free From $9* Free $6.75* Free
Spread Fluctuates Fixed Fluctuates
Transaction
conditions
Transaction form DD method STP method or ECN method
Leverage Up to 1,000 times Up to 500 times Up to 200 times
Currency pair 83 stocks 51 stocks 73 stocks 56 stocks 73 stocks
Minimum
transaction unit
0.01 Lot or 0.1 Lot 0.01 Lot
Maximum dealing
quantity*
Unlimited 60 Lot
Maximum
position numbers
Unlimited
Order method One click, market, limit, stop limit IFD, OCO, IFO
Double house
Transaction
tools
Desktop MT4
(Win・Mac)
Smartphone MT4
(iOS・Android)
Fund
management
Margin call 40% 100%
Loss cut 20% 80%
Zero cut

Deposits and
withdrawals
Account currency JPY、USD
EUR、GBP
PLN、AUD
BTC、ADA
JPY、USD
EUR、GBP
BTC、ADA  
 USD、EUR  JPY、USD、EUR JPY、USD
First time
payment amount
$100〜$20,000
$500
$3,000
Deposit fee Free for debit and credit card
Withdrawal fee
Asset
protection
Separation management
Trust maintenance ×
Support Call center
Email
Live chat
Others -
Demo account ×
Bonus ×

*Trading fee is one way fee per 100,000 currency *Maximum trading volume is the number of Lots per order

 

ABSOLUTE ZERO account is recommended

Please note that IronFX has 6 types of accounts, and the specifications differ greatly.

Recommended is STP / ECN ABSOLUTE ZERO account.

First, I will briefly describe the features of the six IronFX accounts.

+ Live change account

A speculative account with the largest number of currency pairs and also suitable for small value transactions.

Maximum leverage 1,000 times, transaction fee free, spread fluctuation, DD method, bonus object.

There are the following account ranks depending on the initial deposit amount, and the minimum transaction unit and spread differ.

Micro Premium VIP
Initial deposit amount
$100 $2,500 $20,000
Minimum trading unit
0.01 Lot 0.1 Lot 0.1 Lot
Spread Wide Normal Narrow

+ Live Fixed Account

The spread is fixed but the account with the least currency pair.

Maximum leverage 1,000 times, transaction fee free, spread fixed, DD method, bonus object.

There are the following account ranks depending on the initial deposit amount, and the minimum transaction unit and spread differ.

Micro Premium VIP
Initial deposit amount $100 $2,500 $20,000
Minimum trading unit 0.01 Lot 0.1 Lot 0.1 Lot
Spread Wide Normal Narrow

+ Live Zero Spread Account

Among DD accounts, the spread is the narrowest, but the transaction fee is high.

Maximum leverage 500 times/ transaction fee varies depending on currency pair From $9 one way (per 100,000 currency), spread fluctuation, DD method, bonus not applicable.

+ STP/ECN no fee account

No fees but an account where STP and ECN are automatically switched depending on the situation, and spread is set to spread.

Maximum leverage 200 times, transaction fee free, spread fluctuation, STP/ECN method, account not eligible for bonus.

+ STP/ECN zero spread account

The spec is at the same level as other companies' common ECN accounts, but the fee is higher than that of other companies, and this is an account that automatically switches between STP and ECN according to the situation.

Maximum leverage 200 times, transaction fee is $6.75 (per 100,000 currency) one way, spread fluctuation, STP / ECN system, bonus not covered.

+ STP/ECN ABSOLUTE ZERO

The transaction condition is the best in STP/ECN, but the initial deposit amount is as high as $3,000, and it is an account where STP method and ECN method are switched automatically according to the situation.

Maximum leverage 200 times, transaction fee free, spread fluctuation, STP/ECN method, bonus not covered.

There are a large number of 83 currency pairs, and this is a live change account only, there are two accounts that can be traded with a maximum of 1,000 times of leverage: live change account and live fixed account.

The three counterparts of the live change account, live fixed account and live zero spread account are DD method, so the trading partner is IronFX. It's a pretty speculative account.

The STP/ECN fee-free account, STP/ECN zero spread account, STP/ECN ABSOLUTE ZERO account have a maximum leverage of 200 times and a high initial deposit amount, and the loss cut rule is the same level as the domestic contractor, so it is best for traders who can afford it.

STP/ECN no-fee account · STP/ECN AbsoluteZero ECN account is an attractive account that does not have any transaction fee  despite being an ECN account.

The spread is set narrower for the STP/ECN AbsoluteZeroECN account.

 

Not a complete ECN

In terms of transaction transparency and reliability, STP / ECN accounts are recommended, but please note that these three accounts are not full ECN accounts.

There are two types of NDD methods that do not involve a dealer: STP method and ECN method.

Simply put, the STP method is a transaction with a bank called a liquidity provider, and the ECN method is an auction type transaction with other traders.

In general, there are many other companies where STP and ECN are clearly divided according to accounts. However, IronFX switches between the two according to market liquidity (volatility).

 

Bonus target is only DD account

There is a bonus for the Bermuda account, but there are only two target accounts: DD dynamic change account and live fixed account.

Be careful not to misunderstand the live zero spread account and the 3 accounts of STP / ECN because they are not eligible for bonus.

Be careful about transactions and pay attention to credit risk

If you pay attention to the difference in the specs of accounts, notes on ECN transactions, and the target account for bonus, as explained so far, IronFX is a very high spec vendor on the whole.

Besides, there are many advantages such as “High-quality support, swap points are adopted in the industry top-level zero-cut adoption” , so it may be quite attractive depending on the person who has a long history of trading with FX companies.

However, the high credit risk is a very bottleneck, so basically it can not be recommended.

For those who trade in should carefully consider the scale of the transaction, the amount paid, and the trade style.

 

IronFX Campaign Bonus

Currently, IronFX offers three types of bonuses:

Although there are severe usage conditions and withdrawal conditions, it can be said that it is a reasonable bonus system compared to other companies.

Please note that there are only two types of bonus target accounts: live change accounts and live fixed accounts.

Iron Bonuses don't make much sense, so it's a good idea to choose a Share Bonus or a Power Bonus.

Share bonus (100% deposit bonus)

The share bonus is a bonus of 100% of the deposit amount.

There is no upper limit on the bonus, but if you withdraw, half of the profit disappears, half of the loss is your own expense, the other half is reduced from the bonus, and you can not withdraw the bonus itself.

  • For example, if you deposit $1000, you get a bonus of $1000.
  • If you use the bonus and earn $100, you can spend $50 and the remaining $50 will be deducted. (Available for trading in full if you do not withdraw the profit.)
  • If you use the bonus and lose $100, you will be deducted from your $50 account fund and the remaining $50 will be deducted from the bonus.

 

Power bonus (40% deposit bonus)

The Power Bonus gives you a 40% bonus on your deposit.

The profits can be paid out in full, but the loss is paid in full, the bonus limit is $ 10,000, and the bonus itself can not be withdrawn.

  • For example, if you deposit $1000, you get a bonus of $400.
  • If you use the bonus and earn $100, you can withdraw $100.
  • If you use the bonus and lose $100 you will be deducted from your $100 account funds.

 

Iron bonus (20% deposit bonus)

Iron bonus is 20% of deposit amount.

The profits can be paid out in full, but the loss is paid in full, the bonus limit is $10,000, and the bonus itself can not be withdrawn.

  •  For example, if you deposit $1000, you get a bonus of $200.
  • If you use the bonus and earn $100, you can withdraw $100.
  • If you use the bonus and lose $100 you will be deducted from your $100 account funds.

 

From opening account of IronFX to deposit and withdrawal

Identification card and address confirmation are required to open an account

What you need to open an IronFX account is the following two items.

  • Identification card image data
  • Image data of address confirmation documents

The identification card is valid for driver's license, passport, basic resident register, and My Number card.

The address confirmation documents are valid within the last 6 months, such as the receipt of utility bill, resident card, bank statement, credit card statement, mobile phone statement, etc. (No online statement allowed.)

Account opening procedure

The account opening procedure is as follows.

Start at the top from the IronFX official site. (The above is the Bermuda official site.)

 

Enter basic information. Please enter all single-byte alphanumeric characters.

If you wish to use a Bermuda account, please contact the support center directly.

 

Enter your personal information. Please enter all single-byte alphanumeric characters.

 

For question about US citizenship, select "No."

 

Please select your occupation, income and investment experience.

 

Select your experience of participating in seminars and courses, and select "No" in the lower section.

 

Select Account Type, Bonus Category, Currency Base, Leverage from the list above. Set the password required to log in to My Page within 6 characters including all single-byte lower case, upper case, and numbers. Your email address will be set automatically for your username.

Leverage and currency base will vary depending on the selected account type. Choose from 3 types of bonus: Power Bonus, Share Bonus, Iron Bonus.

 

Upload the required document image prepared in advance. Please check "Privacy Policy" and click "Next Step".

 

You will receive an account number, password and server name by email to log into MT4. The account opening procedure is completed.

 

There are few deposit and withdrawal methods and high fees

Deposit and withdrawal method Timeframe Fee
Deposit Credit card
Debit card
Immediate Free
Domestic bank transfer 2 business days ¥980
Overseas bank transfer 1〜5 business days Varies by
financial institution
Bitcoin About ¥300
Withdrawal Credit card
Debit card
Immediate Free
Domestic bank transfer 2 business days ¥1980
Overseas bank transfer 1〜5 business days Varies by
financial institution
Bitcoin About ¥300

There are Neteller, Skrill and Perfect Money on the official site and My Page, but please note that they are not available at the moment.

The above is a list of IronFX deposit and withdrawal methods.

Debit and credit cards are free for deposit and withdrawal fees, but bitcoins are about 300 yen, domestic remittances are about 980 yen and withdrawals are about 1980 yen.

Also, we do not recommend foreign remittances because the remittance fee varies depending on the remittance source financial institution and relay financial institution and it is expensive.

Reflection time is the same day for debit credit card, 1 to 5 business days for bitcoin, 2 business days for domestic remittance, and 1 to 5 business days for remittance from overseas.

 

Trading Terms and Rules of IronFX

Up to 83 currency pairs

+ List of currency pairs

Live fluctuates Live fixed Live
zero spread
STP/ECN
No handling fee
STP/ECN
zero spread
STP/ECN
ABSOLUTE ZERO
AUD/CAD
AUD/CHF
AUD/DKK - -
AUD/HUF -
AUD/JPY
AUD/NZD
AUD/PLN - - - - -
AUD/SGD -
AUD/USD
CAD/CHF
CAD/JPY
CAD/NOK
CAD/SEK
CHF/HUF -
CHF/JPY
CHF/NOK - - - -
CHF/PLN - - - - -
CHF/SGD
EUR/AUD
EUR/CAD
EUR/CHF
EUR/CNH -
EUR/CZK -
EUR/DKK -
EUR/GBP
EUR/HKD -
EUR/HUF -
EUR/JPY
EUR/MXN - - - - -
EUR/NOK -
EUR/NZD
EUR/PLN -
EUR/RUB -
EUR/SEK -
EUR/SGD -
EUR/TRY -
EUR/USD
EUR/ZAR - -
GBP/AUD
GBP/CAD
GBP/CHF
GBP/DKK -
GBP/HUF -
GBP/JPY
GBP/NOK -
GBP/NZD
GBP/PLN - - - - -
GBP/SEK -
GBP/SGD -
GBP/TRY
GBP/USD
GBP/ZAR - -
HKD/JPY - - - - -
NOK/JPY - - - -
NOK/SEK -
NZD/CAD
NZD/CHF
NZD/HUF -
NZD/JPY
NZD/SGD -
NZD/USD
PLN/JPY - - - - -
SEK/JPY - - - -
SGD/JPY
TRY/JPY -
USD/BRL - - - - -
USD/CAD
USD/CHF
USD/CNH -
USD/DKK
USD/HKD -
USD/HUF -
USD/JPY
USD/MXN - -
USD/NOK
USD/PLN -
USD/RUB -
USD/SEK
USD/SGD
USD/TRY -
USD/ZAR - -
USD/CZK -
ZAR/JPY -

AUD: Australian dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, CZK: Czech Koruna, DKK: Danish Krone, EUR: Euro, GBP: British Pound, HKD: Hong Kong Dollar, HUF: Hungarian Forint, JPY: Japanese Yen, MXN: Mexican Peso, NOK: Norwegian Krone, NZD: New Zealand Dollar, PLN: Polish Zloty, RUB: Russian Ruble, SEK: Swedish Krona, SGD: Singapore Dollar, THB: Thai Baht, TRY: Turkish lira, USD: USD, ZAR : South African Rand

The currency pair has the most 83 live floating accounts. They handle a lot of cross yen and minor currency pairs.

 

Live fixed accounts are the least 51 of the six accounts due to the limited handling of minor currency pairs. Note that currency pairs with high swap rates are less.

LiveZero Spread, STP/ECN Zero Spread, STP/ECN ABSOLUTE ZERO has three 73 accounts and 56 STP/ECN no-fee accounts.

 

The cost is best for ABSOLUTE ZERO account

+ Live fluctuation

Currency
pair
Spread (pips)
Micro Premium VIP
AUD/CAD 5.7 5.7 5.7
AUD/CHF 6 6 6
AUD/DKK 30 30 30
AUD/HUF 200 200 200
AUD/JPY 4 4 4
AUD/NZD 7.5 7.5 7.5
AUD/PLN 30 30 30
AUD/SGD 8.8 8.8 8.8
AUD/USD 1.4 1 0.8
CAD/CHF 6 6 6
CAD/JPY 3.9 3.9 3.9
CAD/NOK 70 70 70
CAD/SEK 70 70 70
CHF/HUF 22 22 22
CHF/JPY 3 3 3
CHF/NOK 30 30 30
CHF/PLN 15 15 15
CHF/SGD 8 8 8
EUR/AUD 4 4 4
EUR/CAD 5.2 5.2 5.2
EUR/CHF 1.4 1 0.8
EUR/CNH 22 22 22
EUR/CZK 400 400 400
EUR/DKK 5 5 5
EUR/GBP 1.1 0.9 0.7
EUR/HKD 20 20 20
EUR/HUF 38 38 38
EUR/JPY 1.5 1.1 0.9
EUR/MXN 80 80 80
EUR/NOK 50 50 50
EUR/NZD 14 14 14
EUR/PLN 38 38 38
EUR/RUB 100 100 100
EUR/SEK 50 50 50
EUR/SGD 10 10 10
EUR/TRY 14 14 14
EUR/USD 1.1 0.7 0.5
EUR/ZAR 100 100 100
GBP/AUD 6 6 6
GBP/CAD 6 6 6
GBP/CHF 4.4 4 3.8
GBP/DKK 40 40 40
GBP/HUF 40 40 40
GBP/JPY 4.4 4 3.8
GBP/NOK 100 100 100
GBP/NZD 15 15 15
GBP/PLN 25 25 25
GBP/SEK 100 100 100
GBP/SGD 15 15 15
GBP/TRY 21 21 21
GBP/USD 1 0.8 0.6
GBP/ZAR 300 300 300
HKD/JPY 3 3 3
NOK/JPY 3 3 3
NOK/SEK 7 7 7
NZD/CAD 7.7 7.7 7.7
NZD/CHF 6 6 6
NZD/HUF 40 40 40
NZD/JPY 4 4 4
NZD/SGD 10 10 10
NZD/USD 3.2 2.8 2.6
PLN/JPY 4 4 4
SEK/JPY 3.2 3.2 3.2
SGD/JPY 5 5 5
TRY/JPY 6 6 6
USD/BRL 50 50 50
USD/CAD 1.5 1.3 1.1
USD/CHF 1.7 1.3 1.1
USD/CNH 17 17 17
USD/DKK 30 30 30
USD/HKD 8 8 8
USD/HUF 40 40 40
USD/JPY 0.8 0.4 0.2
USD/MXN 50 50 50
USD/NOK 50 50 50
USD/PLN 33 33 33
USD/RUB 100 100 100
USD/SEK 50 50 50
USD/SGD 5 5 5
USD/TRY 13 13 13
USD/ZAR 140 140 140
USD/CZK 30 30 30
ZAR/JPY 3 3 3

+ Live fixed

Currency
pair
Spread (pips)
Micro Premium VIP
AUD/CAD 7.2 7.2 7.2
AUD/CHF 7.3 7.3 7.3
AUD/JPY 4.9 4.9 4.9
AUD/NZD 9 9 9
AUD/SGD 10 10 10
AUD/USD 2.5 2.1 1.9
CAD/CHF 6 6 6
CAD/JPY 4 4 4
CAD/NOK 300 300 300
CAD/SEK 78 78 78
CHF/JPY 10 10 10
CHF/NOK 75 75 75
CHF/SGD 50 50 50
EUR/AUD 6.2 6.2 6.2
EUR/CAD 6.2 6.2 6.2
EUR/CHF 4.2 3.8 3.6
EUR/DKK 10 10 10
EUR/GBP 2.1 1.9 1.7
EUR/HKD 20 20 20
EUR/JPY 3 2.6 2.4
EUR/NOK 140 140 140
EUR/NZD 10 10 10
EUR/SEK 45 45 45
EUR/SGD 10 10 10
EUR/USD 2.2 1.8 1.6
GBP/AUD 8.5 8.5 8.5
GBP/CAD 6 6 6
GBP/CHF 5.6 5.2 5
GBP/DKK 55 55 55
GBP/JPY 5.1 4.7 4.5
GBP/NOK 200 200 200
GBP/NZD 12 12 12
GBP/SEK 336 336 336
GBP/SGD 12 12 12
GBP/USD 2.5 2.3 2.1
NOK/JPY 7 7 7
NZD/CAD 8 8 8
NZD/CHF 12 12 12
NZD/JPY 4 4 4
NZD/SGD 10 10 10
NZD/USD 3.2 2.8 2.6
SEK/JPY 7.2 7.2 7.2
SGD/JPY 8 8 8
USD/CAD 2.2 2 1.8
USD/CHF 3 2.6 2.4
USD/DKK 30 30 30
USD/HKD 225 225 225
USD/JPY 2.2 1.8 1.6
USD/NOK 120 120 120
USD/SEK 65 65 65
USD/SGD 6 6 6

+ Live Zero Spread

Currency pair Spread (pips)
AUD/CAD 2.5
AUD/CHF 2.5
AUD/DKK 32.3
AUD/HUF 42
AUD/JPY 2.5
AUD/NZD 2.4
AUD/SGD 3.5
AUD/USD 0
CAD/CHF 2.5
CAD/JPY 2.5
CAD/NOK 26
CAD/SEK 31
CHF/HUF 40
CHF/JPY 2.5
CHF/SGD 5
EUR/AUD 3.1
EUR/CAD 2.2
EUR/CHF 0
EUR/CNH 27
EUR/CZK 400
EUR/DKK 3.6
EUR/GBP 0
EUR/HKD 8.4
EUR/HUF 37
EUR/JPY 0
EUR/NOK 5.8
EUR/NZD 2.5
EUR/PLN 28
EUR/RUB 30
EUR/SEK 4.3
EUR/SGD 3.6
EUR/TRY 18
EUR/USD 0
EUR/ZAR 50
GBP/AUD 2.1
GBP/CAD 2.4
GBP/CHF 0
GBP/DKK 4.1
GBP/HUF 45
GBP/JPY 0
GBP/NOK 16.5
GBP/NZD 4.2
GBP/SEK 32.1
GBP/SGD 4.5
GBP/TRY 20
GBP/USD 0
GBP/ZAR 87
NOK/SEK 18
NZD/CAD 4.1
NZD/CHF 4.1
NZD/HUF 31
NZD/JPY 4.1
NZD/SGD 5.7
NZD/USD 0
SGD/JPY 3.6
TRY/JPY 19
USD/CAD 0
USD/CHF 0
USD/CNH 21
USD/DKK 4.4
USD/HKD 2.9
USD/HUF 33
USD/JPY 0
USD/MXN 29.6
USD/NOK 8
USD/PLN 26
USD/RUB 25
USD/SEK 5.4
USD/SGD 1
USD/TRY 18
USD/ZAR 26
USD/CZK 25
ZAR/JPY 20

+ STP/ECN

Currency
pair
Spread (pips)
No handling
fee
Zero
spread
ABSOLUTE
ZERO
AUD/CAD 5.5 2.5 2.5
AUD/CHF 5.7 2.5 2.5
AUD/DKK - 32.3 32.3
AUD/HUF 45 42 42
AUD/JPY 4.8 2.5 2.5
AUD/NZD 5.1 2.4 2.4
AUD/SGD - 3.5 3.5
AUD/USD 2.1 0.5 0.5
CAD/CHF 6.6 2.5 2.5
CAD/JPY 4.5 2.5 2.5
CAD/NOK 29 26 26
CAD/SEK 34 31 31
CHF/HUF 43 40 40
CHF/JPY 4.6 2.5 2.5
CHF/SGD 8 5 5
EUR/AUD 5.8 3.1 3.1
EUR/CAD 5.6 2.2 2.2
EUR/CHF 2 0.2 0.4
EUR/CNH 29 27 27
EUR/CZK 2.8 25 25
EUR/DKK - 3.6 3.6
EUR/GBP 1.8 0.1 0.3
EUR/HKD - 8.4 8.4
EUR/HUF 40 37 37
EUR/JPY 2.5 0.2 0.4
EUR/NOK - 5.8 5.8
EUR/NZD 6 2.5 2.5
EUR/PLN 35 28 28
EUR/RUB 35 30 30
EUR/SEK - 4.3 4.3
EUR/SGD - 3.6 3.6
EUR/TRY 22 18 18
EUR/USD 1.7 0 0.2
EUR/ZAR - 50 50
GBP/AUD 6.4 2.1 2.1
GBP/CAD 6.7 2.4 2.4
GBP/CHF 2.7 0.1 0.3
GBP/DKK - 4.1 4.1
GBP/HUF 48 45 45
GBP/JPY 2.7 0 0.2
GBP/NOK - 16.5 16.5
GBP/NZD 7.5 4.2 4.2
GBP/SEK - 32.1 32.1
GBP/SGD - 4.5 4.5
GBP/TRY 27 20 20
GBP/USD 1.9 0.2 0.4
GBP/ZAR - 87 87
NOK/SEK 18 18 18
NZD/CAD 8.2 4.1 4.1
NZD/CHF 8.3 4.1 4.1
NZD/HUF 34 31 31
NZD/JPY 6.9 4.1 4.1
NZD/SGD - 5.7 5.7
NZD/USD 2.6 0 0.2
SGD/JPY 4.9 3.6 3.6
TRY/JPY 22 19 19
USD/CAD 2.2 0.2 0.4
USD/CHF 2.2 0.1 0.3
USD/CNH 22 21 21
USD/DKK 17.1 4.4 4.4
USD/HKD - 2.9 2.9
USD/HUF 35 33 33
USD/JPY 1.7 0 0.2
USD/MXN - 29.6 29.6
USD/NOK 13 8 8
USD/PLN 30 26 26
USD/RUB 30 25 25
USD/SEK 6.6 5.4 5.4
USD/SGD 6 1 1
USD/TRY 23 18 18
USD/ZAR - 26 26
USD/CZK 2.3 25 25
ZAR/JPY 22 20 20

Spread as of July 27, 2018 at 00:00

+ currency symbol

AUD: Australian dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, CZK: Czech Koruna, DKK: Danish Krone, EUR: Euro, GBP: British Pound, HKD: Hong Kong Dollar, HUF: Hungarian Forint, JPY: Japanese Yen, MXN: Mexican Peso, NOK: Norwegian Krone, NZD: New Zealand Dollar, PLN: Polish Zloty, RUB: Russian Ruble, SEK: Swedish Krona, SGD: Singapore Dollar, THB: Thai Baht, TRY: Turkish lira, USD: USD, ZAR : South African Rand

The above is a spread list of each account published by IronFX.

Other than live fixed accounts, it fluctuates depending on market conditions and volatility.

Live variable account and live fixed account is a system in which the account rank is set from among micro premium and VIP by the amount of the first deposit amount, and the spread is somewhat favored.

Once set, the account rank does not change even if the account balance changes.

Live zero spread accounts cost $ 9,00 for a one-way transaction per 100,000 currency, and STP / ECN zero spread accounts cost a transaction fee of $ 6.75, one-way traffic per 100,000 currency.

The most recommended of these is an ABSOLUTE ZERO account with narrow spreads and free transaction fees.

In fact, we will compare the total cost with the representative major forex companies DD account and ECN account to see how much the total cost is.

IronFX XM AXIORY titan FX
Live fluctuation
(micro)
STP/ECN
ABSOLUTE
ZERO
Standard Zero Standard Nano Standard Blade
Transaction fee
(one way)
Free Free Free $5 Free $3 Free $3.50
USD/JPY ¥220 ¥40 ¥170 ¥120 ¥130 ¥96 ¥110 ¥107
EUR/JPY ¥340 ¥60 ¥250 ¥170 ¥140 ¥106 ¥130 ¥137
GBP/JPY ¥640 ¥100 ¥300 ¥150 ¥180 ¥146 ¥200 ¥177
EUR/USD ¥210 ¥40 ¥180 ¥130 ¥120 ¥86 ¥120 ¥97

The above is the transaction cost per 10,000 currency (spread cost + return fee). The transaction fee is displayed as a one-way amount per 100,000 currency.

In the case of DD accounts, the total cost for IronFX's live variation account and for other companies' standard accounts was highest for IronFX.

However, in the case of ECN accounts, IronFX's ABSOLUTE ZERO account has a total cost that is overwhelmingly lower than that of other companies' ECN accounts, because there is no fee.

 

Swaps are high and favor long-term trading

Currency pair Long
(¥)
Short
(¥)
1st TRY/JPY 70 -146
2nd USD/CHF 48 -142
3rd NZD/CHF 41 -154
4th AUD/CHF 37 -111
5th USD/SEK 37 -123
6th CAD/CHF 30 -99
7th NZD/JPY 25 -84
8th USD/HUF 25 -105
9th GBP/CHF 24 -118
10th USD/JPY 23 -119
11th AUD/JPY 21 -128
12th CAD/SEK 20 -80
13th NZD/HUF 19 -85
14th AUD/HUF 17 -80
15th USD/CZK 15 -85
16th CAD/JPY 14 -69
17th GBP/SEK 11 -96
18th SGD/JPY 9 -77
19th USD/NOK 9 -72
20th ZAR/JPY 9 -22
21位 AUD/DKK 9 -85
22位 NZD/CAD 7 -65
23位 PLN/JPY 7 -22
24th AUD/CAD 2 -100
25th NZD/SGD 2 -57
26th NOK/SEK 2 -11
27th CAD/NOK -1 -41
28th HKD/JPY -1 -6
29th AUD/SGD -3 -50
30th NOK/JPY -3 -6
Currency pair Long
(¥)
Short
(¥)
1st EUR/TRY -743 345
2nd GBP/TRY -771 194
3rd USD/TRY -556 148
4th EUR/MXN -462 105
5th EUR/ZAR -346 89
6th GBP/ZAR -350 88
7th USD/MXN -296 68
8th USD/BRL -371 59
9th EUR/RUB -319 56
10th EUR/CNH -165 55
11th CHF/PLN -110 44
12th USD/ZAR -208 43
13th EUR/NZD -202 41
14th USD/RUB -209 39
15th EUR/AUD -212 32
16th EUR/USD -122 31
17th EUR/PLN -122 28
18th EUR/CAD -100 22
19th CHF/SGD -106 21
20th EUR/SGD -113 14
21st GBP/NZD -198 13
22nd CHF/NOK -76 12
23th GBP/AUD -205 11
24th EUR/NOK -82 9
25th GBP/USD -96 7
26th GBP/PLN -90 6
27th USD/CNH -57 1
28th EUR/CZK -73 0
29th SEK/JPY -4 -2
30th GBP/CAD -69 -4

It is a swap (yen) per 10,000 currency on July 27, 2018.

+ currency symbol

AUD: Australian dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, CZK: Czech Koruna, DKK: Danish Krone, EUR: Euro, GBP: British Pound, HKD: Hong Kong Dollar, HUF: Hungarian Forint, JPY: Japanese Yen, MXN: Mexican Peso, NOK: Norwegian Krone, NZD: New Zealand Dollar, PLN: Polish Zloty, RUB: Russian Ruble, SEK: Swedish Krona, SGD: Singapore Dollar, THB: Thai Baht, TRY: Turkish lira, USD: USD, ZAR : South African Rand

IronFX has high credit risk, so it is an uneasy vendor for long-term trading, but it also has the appeal of having very high swap points.

In particular, the EUR/TRY, GBP/TRY, and USDTRY sell swaps are high, and other currency pairs are given above average swaps across the board, giving them an overwhelming advantage over other companies in the weeks and months of swing trading.

 

Zero cut adopted, no additional certification

Depending on the type of account, IronFX has different conditions for triggering margin call and loss cut.

DD method, live fluctuation, live fixed, and live zero spread accounts are “margin call 40%, loss cut 20%”, which are common in forex companies, and there is a relative leeway in fund management.

However, since there are three STP / ECN accounts: “margin call 100% and loss cut 80%”, and STP / ECN ABSOLUTE ZERO account requires an initial deposit of $ 3,000 or more. Is required.

However, the zero cut system is firmly adopted in any account, so even if a loss cut is triggered, there will be no more loss than the deposit amount.

 

IronFX Trading Tools App

The high-performance trading tool MT4 is easy to install

The trading tool is MT4.

Automatic trading by EA (Expert Adviser) is also possible, and it is convenient for trading on the go using a smartphone app.

It is very easy from installation to setting for both PC and smartphone.

For the specifications of MT4, please refer to the article here.

 

For those using a Mac

MT4 is a Windows-only software, but IronFX can download a Mac-only installer, so it can be used as a Mac application.

 

Customer Support for IronFX

Support quality is high

Support Available hours
Call center 24 hours on weekdays
Email
Live chat

The support is very quick to respond, and it is an impression that they will respond patiently and carefully for difficult matters.

 

IronFX Information Service

The service is very normal and all in English

In IronFX, you can use video tutorials, E-Books, online seminars, economic news, economic calendars, etc. as investment support.

Economic news

 

Economic calendar

-Forex review

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