Ironfx

IronFX broker is an international brokerage that has been operating since 2010, and Teagle's data lists its country as the British Virgin Islands. IronFX is known for its varied accounts, deposit bonuses and extensive additional services, but Iran is not on its list of countries eligible for registration. In this overview, we have reviewed IronFX based on Teagle's data to give you a clear picture of its features and risks.

What kind of broker is IronFX?

IronFX has around 16 years of history and focuses on access to global financial markets, fast trade execution and modern trading infrastructure. Alongside its trading services, the broker also emphasizes market analysis and educational content. Cent accounts, ECN accounts, Islamic accounts, scalping and hedging, Expert Advisors, news trading and phone trading are listed in Teagle's tags for it. Teagle's expert considers IronFX a "powerful broker" in terms of the variety of instruments, accounts and technical features.

IronFX licenses and credibility

Teagle's license list shows five entries for IronFX, but only two have active status:

• CySEC Cyprus (No. 125/10), active;
• FSC British Virgin Islands, active; an offshore license with no number recorded in Teagle's data;
• FCA UK (No. 08111366), FSCA South Africa (No. 45276) and ASIC Australia (ACN: 143 154 698), for which no status is recorded.

Teagle's risk index also takes into account only the two active licenses, CySEC and FSC BVI. Which entity a client is registered under determines their level of legal protection; to understand this, read the guide on broker regulation and how it is rated .

Does IronFX serve Iranians?

No. According to Teagle's experts, Iran is not on IronFX's list of countries eligible for registration, and even though it supports cryptocurrency, users residing in Iran cannot use its services directly. Using someone else's identity details or bypassing geographic restrictions can lead to account blocking and withdrawal problems; this broker also does not accept third-party payments. The data on Persian language support is also inconsistent: the tags indicate a Persian website and support, but Teagle's overview describes its multilingual support as "excluding Persian". Also see the article Brokers prohibited for Iranians and how to choose a safe broker .

IronFX trading accounts

All IronFX accounts are offered on MetaTrader 4, and their requote status is unclear:

• Standard Floating: floating spread of 1.2 pips, no commission, minimum deposit of $250, leverage up to 1:2000 and a 20% stop-out, with an Islamic version.
• Standard Fixed: the same conditions with a fixed spread of 1.2 pips.
• Raw ECN: raw spreads from zero, commission from $13.5, minimum deposit of $250, leverage up to 1:1000 and a 50% stop-out; no Islamic version.
• ECN VIP: minimum deposit of $10,000, raw spreads from 0.3 pips, no commission and leverage up to 1:2000.

The Raw ECN account's commission is high compared with many competitors and is worth comparing with the Standard account; an introduction to ECN accounts and how they compare with other accounts helps with this calculation. Leverage of 1:2000 also multiplies the risk; before using it, review the concepts of leverage and margin and collateral .

IronFX platforms and services

Trading is available only on MetaTrader 4, in Windows, Mac, Android, iOS and WebTrader versions. Additional services include copy trading, social trading, PAMM, Expert Advisors and bots, VPS, a trading API, an IB program, education, an economic calendar and calculators. Deposit bonuses of 20%, 40% and 100% and cashback are also offered; follow active bonuses on the broker bonuses page .

Deposits and withdrawals at IronFX

Deposits and withdrawals are free with all methods (only network fees apply for cryptocurrency). The minimum deposit is $10 via e-wallet and bank transfer, $20 via cryptocurrency and $50 via bank card, Google Pay and Apple Pay. Withdrawals take up to 1 hour via e-wallet and cryptocurrency, 3 to 5 business days via bank transfer and up to 10 business days via card, Google Pay and Apple Pay. Withdrawing profits with open trades is also possible, provided that Free Margin exceeds the withdrawal amount.

IronFX rating and risk on Teagle

IronFX's final rating on Teagle is 2.3 out of 5, derived from four sources: WikiFX 3.9, Trustpilot 2.3, Teagle's expert 1.7 and Forex Peace Army 1.3; Teagle user ratings have not yet been recorded. The Teagle Eye risk index for this broker is 38 out of 100, in the "low to medium risk" category; its 16-year history and CySEC license have kept it low, while weak reputation scores have pushed it up.

IronFX pros and cons

• Pro: wide variety of symbols and accounts
• Pro: varied deposit bonuses and extensive additional services
• Pro: deposits and withdrawals with no broker fees
• Con: Iran is not on the list of countries eligible for registration
• Con: slow withdrawals via card and bank transfer
• Con: high minimum deposit for the ECN VIP account and high commission on Raw ECN

Who is IronFX suitable for?

In the view of Teagle's expert, IronFX suits traders who need a variety of instruments and professional features and who operate in permitted jurisdictions. It is not a suitable option for residents of Iran or for those seeking a no-deposit bonus or instant withdrawals; the bonuses do not make up for this fundamental limitation either. For comparison, see it in the IronFX vs FXTM comparison .

Conclusion

IronFX is complete in terms of features and account variety, but it has closed its doors to Iranian users and its reputation scores are low. If you are eligible to use it, start with a small amount, read the bonus terms carefully, make a test withdrawal and follow the latest warnings on the risk warning page .