FOREX.com vs IronFX - Online Brokerage Comparison

FOREX.com vs IronFX Comparison

FOREX.com vs IronFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$100MT4200+FCA, ASIC, CySEC, FSCA

FOREX.com and IronFX Comparison

The brokers have similarities in that they each offer MT4 and support automated trading on this platform. Both support discretionary trading (where the trader makes their own trading decisions), but in different ways.

IronFX has a range of STP/ECN accounts (for automated or discretionary trading) but also has a range of accounts, which offer fixed or variable spreads and improved services for higher deposits. FOREX.com offers two platforms which are aimed at discretionary trading (as well as MT4, which can be used for either type of trading).

These brokers each have a range of Cryptocurrency CFDs to trade. The trader does not own the cryptocurrency, rather speculates on the movement of its price. This means they do not need a wallet to store it (as they do not own it).

Both are regulated by the FCA in the United Kingdom and the ASIC in Australia. FOREX.com is additionally regulated by the CFTC in the United States, the IIROC in Canada, the SFC in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan. IronFX is additionally regulated by the CySEC in Cyprus and the FSCA in South Africa.

Quick Comparison

Either brokers can be used for discretionary or automated trading. IronFX has a focus on providing ways to trade on MT4, while FOREX.com offers a range of platforms.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for IronFX is $100, but for STP/ECN trading it is $500.

  • FOREX.com offers CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots.
  • IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN account, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
  • All IronFX accounts offer a dedicated account manager, technical analysis reports, investor education tools and private one-on-one trading guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a dealing department transaction hotline.

Markets

  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Metals and Soft Commodities, with 110+ available.
  • On MT4, IronFX offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 200+ available.

Cryptocurrency CFDs

  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.
  • IronFX offers Bitcoin, Ethereum, Litecoin, Ripple and ADA.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • IronFX's Micro account has a EUR/USD variable spread from 1.1 and a fixed spread from 2.2. The Premium account has a EUR/USD variable spread from 0.7 and a fixed spread from 1.8. The VIP account has a variable EUR/USD spread from 0.5 and a fixed spread from 1.6.
  • IronFX's Live Zero Fixed spread account has an EUR/USD spread of 0 (plus a commission charge). The ECN No Commission account has a variable EUR/USD spread from 1.7 and the ECN account with a commission charge has an EUR/USD spread from 0. The ECN Absolute Zero account has EUR/USD spreads from 0, without a commission charge. Gold spreads are from 0.5, UK100 spreads are from 0.8 and US Crude Oil spreads are from 0.04.

The maximum leverage for FOREX.com (FCA regulated) is . The maximum leverage for IronFX (FCA or CySEC regulated) is .

Platforms

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. IronFX offers MT4 and an MT4 web trader.

Why FOREX.com or IronFX ?

IronFX is an MT4 broker and can offer STP/ECN accounts. FOREX can offer two web traders and MT4. They have a similar number of markets available to trade.

Comparison summary

  • These brokers each offer MT4
  • IronFX has a range of STP/ECN accounts
  • FOREX.com provides discretionary trading platforms (in addition to MT4)
  • FOREX.com offers variable Forex spreads, IronFX has fixed or variable Forex spreads (depending on the account)
  • IronFX has a range of account types
  • IronFX offers different ways to trade with or without a commission charge
  • FOREX.com has a lower minimum deposit
  • Both offer Cryptocurrency CFDs to trade
  • IronFX has more markets on MT4
  • FOREX.com has more markets overall
  • Both are FCA and ASIC regulated

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