IronFX Review

IronFX Review

Trade On MT4

  • MetaTrader 4
  • VIP spreads from 0.5
  • Trader Friendly grade: A
  • Cryptocurrency CFDs
  • VIP and Islamic accounts
  • $100 minimum deposit
  • 300+ products
  • MT4 trading
Cryptocurrency CFD trading

IronFX Review

IronFX offers MT4 trading in over 300 products across a range of markets. It provides three account types, Standard, Premium and VIP, which can have either fixed or variable spreads. For traders who want to trade with smaller trade sizes it offers a Cent account. IronFX can provide lower Forex spreads on some pairs for account types with higher minimum deposits.

In addition to its account types reviewed here, IronFX also provides a range of other accounts including STP/ECN accounts, a Zero Fixed Spread account and an Absolute Zero account (which has ECN spreads, but does not charge commissions).

Briefly, what does IronFX do ?

IronFX provides MT4 trading, offering a rage of account types, including STP/ECN.

Cryptocurrency CFD trading

IronFX offers Cryptocurrency CFD trading. The trader does not own a cryptocurrency when buying it, rather is speculating on the price movement of the cryptocurrency. This means that the trader does not need a Wallet or other means of storing it. Cryptocurrencies available are: Bitcoin, Ethereum, Litecoin, Ripple, IOTA, EOS, IronX and Cardano (ADA).

What is the difference between IronFX's Real accounts and its STP/ECN accounts ?

IronFX's Real accounts (its non-STP/ECN accounts) are instant execution and may requote orders, but have no slippage (the difference between the quoted and executed price). Its STP/ECN accounts are market execution and do not requote orders but may have slippage. They also use different liquidity providers. Which ones to use, may depend on the style of trading used by the trader, as some styles are more sensitive to slippage, some to requotes.

Account types and minimum deposit

IronFX offers a range of account types with fixed or floating spreads, STP/ECN accounts and a Zero Fixed Spread account, as well as a number of other account types.

As the name suggests, the Fixed or Floating Spread accounts are available with two types of spreads, either fixed or variable. Depending on the deposit size there are different types of these accounts available. The Fixed or Floating Spread accounts types are Standard, Premium and VIP.

For the Standard account, a minimum deposit of $50 is required, for the Premium account a minimum deposit of $2,500 is required and for the VIP account a minimum deposit of $20,000 is required.

There are no commissions charged for the Fixed or Floating Spreads accounts, except on Futures CFDs. Swap Free (Islamic) accounts are offered.

IronFX provides the IronFX Academy, which aims to enhance the trading experience with information and provides webinars, seminars and expos. It also provides daily market news and research.

The Premium and VIP accounts feature a dedicated account manager available 24/5 and a transaction hotline to the dealing department.

Account opening

The Micro and Premium accounts are available in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, CZK and HUF. The VIP account is available in USD.


IronFX provides MT4 on desktop, mobile and tablet. It also provides a webtrader based on MT4. In addition IronFX provides AutoTrade by myfxbook for copy trading.

Minimum trade size

The Standard account has a minimum trade size of 0.01 lots (micro lot). The Premium and VIP account have a minimum trade size of 0.1 lots (mini lot). The Cent account has a minimum trade size of 0.0001 lots.


IronFX provides a relatively large number and range of markets for an MT4 broker. It makes available over 300 instruments, covering Forex, Metals, Shares, Commodities, Indices and Cryptocurrencies CFDs.

IronFX offers Futures CFDs, which have a commission charge of $10 per lot, in addition to Spot CFDs, which do not have a commission charge. Futures available are Index Futures, Commodity Futures, Forex Futures and Base Metals Futures.

Metals available include Spot Gold, Silver, Platinum and Palladium, and Copper Futures. Soft Commodities include Rice, Soybeans, Coffee, Wheat, Cocoa and Corn Futures. Energies are Oil and Natural Gas, both Futures and Spot. Forex Futures include USD, GBP, AUD and EUR Futures.


Spreads can be fixed or variable. Some Forex spreads can vary depending on whether the account is Micro, Premium or VIP.

For the Live Floating account (with variable spreads), EUR/USD spreads are from 1.1 for the Micro account, 0.7 for the Premium account and 0.5 for the VIP account. GBP/USD spreads are from 1 for the Micro account, 0.8 for the Premium account and 0.6 for the VIP account. AUD/USD spreads are from 1.4 for the Micro account, 1 for the Premium account and 0.8 for the VIP account.

For the Live Fixed Spread account, EUR/USD spreads are from 2.2 for the Micro account, 1.8 for the Premium account and 1.6 for the VIP account. GBP/USD spreads are from 2.5 for the Micro account, 2.3 for the Premium account and 2.1 for the VIP account. AUD/USD spreads are from 2.5 for the Micro account, 2.1 for the Premium account and 1.9 for the VIP account.

Spot Gold (XAU/USD) has a minimum spread and a typical average spread of 0.5. UK100 has a variable spread from 0.8, US Crude Oil has a variable spread from 0.04 and Bitcoin has a variable spread from 10, with no commission charge.

UK100 Futures has a spread from 0.5 plus a commission charge of $10 per lot and US Crude Oil Futures has a spread from 0.02 plus a commission charge of $10 per lot.


Deposit methods include Visa, Mastercard, Maestro, Bank Wire, Skrill, Neteller, FasaPay, China Union Pay, Dotpay and mail order and telephone order, for those who do not have internet access. IronFX does not charge deposit fees but does charge withdrawal fees.

Summary and grade

This broker provides a wide range of markets and products for an MT4 broker and includes Shares in its offering. The number of Forex pairs provided is relatively large.

As well as Micro, Premium and VIP accounts with fixed or variable spreads, which can be lower in some cases for higher minimum deposits, it offers other account types including STP/ECN accounts and Zero Fixed Spread accounts. This range of markets, depth of offering of products to trade and flexibility in account types, helps give IronFX a Trader Friendly grade of A.