IronFX is a Bermuda forex brokerage firm. It gives traders access to one or more platforms to purchase and sell foreign currency. Retail or currency trading brokers are other terms for forex brokers.
These broker companies, in turn, help retail currency traders gain access to the 24-hour currency market for speculation. To react to traders’ changing demands and aims, the brokerage firm is constantly working to improve its trading solutions and services. It aspires to provide services worldwide.
IronFX was founded in Limassol, Cyprus in December 2010 after obtaining authorization from the CySEC. In 2013, IronFX opened an office in Australia and became regulated by the ASIC, while it also received authorization from the FCA in the UK.
According to the corporation, funds are processed through the United Kingdom; however, there is no indication of where the monies are maintained or whether they are segregated from the company’s funds. As a result, the broker had to ensure a high level of quality to change unique services that could be used both locally and globally.
The number and kind of accounts a trader can open with a broker company depends on the country in which the brokerage works, the trader’s country of residence, and the regulatory agencies under whose jurisdiction the brokerage operates.
Special Islamic accounts and swap-free accounts are other account kinds provided by the broker to the Muslim traders, which operate in line with Shariah law. Follow this link to check most discussed IronFX complaints.
The kind of accounts a trader can open with a broker company depends on the country in which the brokerage firm works, the trader’s country of residence, and the regulatory agencies under whose jurisdiction the brokerage operates. Special Islamic accounts and swap-free accounts resemble the other account kinds for the Muslim religion trader, but operate based on Shariah law. Types of the trading account given below:
The broker allows you to trade all or some of the following market instruments over various markets:
The forex trading software that a broker provides to its clients to execute trades can be multi-asset, allowing clients to trade both FX and other asset classes. The broker offers WebTrader, MetaTrader platform, and Mobile App, which may help traders due to unique features developed by the firm’s professionals.
While it prefers to use well-known systems that have been tried and tested over time, if a trader has a choice, he should think about what he wants to trade and pick the platform that best meets his demands.
The spread is the difference amount between the bid and asks prices. A pip is the lowest unit of the exchange rate.
IronFX does not charge a commission on trades.
If there have been no trades for more than 61 days, there are inactivity fees that can cost up to EUR 160.
A ratio is used to express the level of leverage. IronFX traders can use a leverage ratio of up to 1:500.
If a trader has $1,000 in their account and trades ticket sizes of $100,000/JPY, their leverage is 100:1.
The broker frequently uses the deposit bonus to entice new traders. The incentive usually pays traders for picking a specific broker because once the account is live, the trader’s fees will be the same as any other.
Potential traders must be certain that the broker they choose can provide them with the essential support and assistance anytime they require it. IronFX’s customer service representatives can be reached by phone, email, or live chat. They are available 24 hours a day, five days a week, in the following languages such as English, Spanish, Portuguese, Russian, etc…
On IronFX’s official website, they provide a variety of instructional aids to their clientele, ranging from webinars to E-Books. The best part is that the broker hosts webinars with the best Forex specialists worldwide, who explain complicated ideas to would-be traders. Every trader will have the opportunity to learn more about the market from the greatest traders worldwide.
Overall, IronFX provides good service to its clients and competitive spreads, and other perks such as no commission on trades. In addition, it provides clients with a wide range of accounts to accommodate beginners and specialists. However, inactivity penalties and the lack of Islamic accounts put a good remark.
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