What we liked about IronFX
What we liked most about IronFX is the possibility to trade under different regulations. Traders can choose if they want the safer EU regulations with the max. leverage of 30 – or choose a different regulation like the BM and get up to 1:1000 leverage. Promotions are also available for regulations outside of the EU. ECN/STP accounts are also available.
What we disliked about IronFX
For new traders the different account types, is more an disadvantage. Newcomers get confused and can’t really decide on which account type they should focus on. IronFX currently only offers around 200 trading instruments, which is mainly the lack of many CFD stocks.
BrokerCheck Review of IronFX
IronFX currently offers around 200 tradable assets. These currently include 4 crypto currency pairs. IronFX’s biggest plus point is their Absolute Zero STP/ECN Account starting with 500$ minimum deposit, standard accounts have a 100$ minimum deposit. A little bit confusing is, that IronFX offers different account options while signing up – you can even choose up to 4 different demo account models. IronFX is regulated under CySEC, FCA, AISC, FSB + BM and has an extra FSCS Client Insurance for up to 1 Mio GBP. You can either choose to trade under the CySEC or BM (Bermuda) regulation – Both have different trading conditions. The max. Leverage is up to 1000 (BM regulation). The account structure usually decides between market maker model and ECN/STP agency model. IronFX offers different kind of promotions, they sometimes even offer contests for demo accounts. As for most ECN Brokers the available trading products are very limited. IronFX offers for their ECN account mostly only Forex and Gold/Silver. Standard Accounts offer Cryptocurrencies, CFD-Shares, Spot Metals, Spot Indices, Spot Commodities and Futures. IronFX offers Metatrader 4 and a Webtrader as main trading platforms. IronFX offers a rich portfolio of learning materials.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this Broker.
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What is the ESMA? The European Securities and Markets Authority (ESMA) is an EU body aimed at protecting investors and ensuring the integrity, stability and