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Do you want to know which is the better broker between Xtrade and IronFX ?
In the table below, you can compare the features of Xtrade , IronFX side by side to determine the best fit for your needs.
EURUSD: 1.9
XAUUSD: --
Long: -8.08
Short: 0.08
Long: -14.81
Short: 11.12
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of xtrade, ironfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Feature | Detail |
Registered Country/Region | Australia |
Regulation | ASIC, FSC |
Found | 2000 |
Market Instrument | CFDs, indices, commodities, forex, stocks, ETFs, bonds, etc |
Account Type | Standard, Premium, Platinum and VIP |
Minimum Deposit | $250 |
Maximum Leverage | 1:400 |
Spread (EUR/USD) | 2-5 pips |
Commission | $0 |
Trading Platform | WebTrader |
Demo Account | yes |
Deposit & Withdrawal Method | credit/debit cards and bank transfers |
Xtrade was founded in 2000 and based in Melbourne, Australia, is a online trading broker. It currently holds a full license from the Australian Securities and Investments Commission (ASIC), a suspicious clone license from the Cyprus Securities and Exchange Commission (CYSEC), and an offshore retail forex license from the Financial Services Commission (FSC) of Belize. Xtrade offers a wide range of tradable assets, including currencies, commodities, indices, stocks, and more. This diverse selection allows traders to access various global markets and create well-diversified portfolios. With Xtrade, traders have the flexibility to choose from various trading account types, catering to different levels of expertise and trading preferences. The minimum deposit required to open an account is$250, allowing traders with different budget sizes to participate in the markets.
Xtrade offers a competitive maximum leverage ratio of up to 1:400, enabling traders to amplify their trading positions. Spreads on different financial instruments vary, ensuring a diverse range of trading opportunities.
Traders can access the markets using Xtrade's user-friendly and feature-rich trading platforms. These platforms provide seamless trading experiences across multiple devices, including web, mobile, and desktop.For traders who wish to test their strategies or familiarize themselves with the platform, Xtrade provides a demo account. Additionally, the broker offers an Islamic account option for traders who follow Shariah principles.
Xtrade prioritizes customer support, providing assistance to traders through various channels, including live chat, email, and phone. Traders can reach out to the dedicated support team for any inquiries or assistance they may need. The broker also provides educational tools and resources to help traders enhance their trading knowledge and skills.
Xtrade is a broker that is regulated by two regulatory authorities, namely the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC). ASIC is an Australian regulatory body known for its strict oversight of financial services providers, ensuring fair and transparent practices.
The FSC, on the other hand, is the regulatory authority in Belize, where Xtrade operates as an offshore entity. While the FSC is responsible for overseeing financial services in Belize, it is important to note that the regulatory standards may differ from those of ASIC. Traders should be aware of the regulatory jurisdiction in which the broker operates and understand the associated risks.
Xtrade offers several advantages and disadvantages that should be considered by potential traders. On the positive side, the broker is regulated by reputable authorities like ASIC. They offer a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies, providing diversification opportunities. Additionally, Xtrade provides educational resources and tools to support traders' knowledge and skills development. However, some drawbacks include the spreads not being highly competitive, which could affect the cost of trading, and the lack of transparency regarding commission charges, the absence of MT4 or MT5 trading platforms. Traders should carefully evaluate these factors before deciding to trade with Xtrade.
Pros | Cons |
Regulated by ASIC | Spreads not highly competitive |
Wide range of trading instruments | Lack of transparency regarding commission charges |
High minimum deposit for some account types | Limited variety of account types |
User-friendly and intuitive interface | Limited educational resources compared to some other brokers |
Various payment methods supported | Lack of MetaTrader trading platforms |
Demo account available for practice | Inactivity fees for dormant accounts |
Negative balance protection | Limited research and analysis tools provided |
Access to rich educational resources | Limited availability in certain countries |
Xtrade offers a diverse range of market instruments to cater to the trading needs of its clients. Traders can access a wide variety of indices, representing different global markets, allowing them to speculate on the overall performance of major stock exchanges. Additionally, Xtrade provides a selection of commodities, enabling traders to participate in the price movements of precious metals, energy resources, agricultural products, and more.
Furthermore, Xtrade grants access to a comprehensive range of shares, including stocks of renowned companies from around the world. This allows traders to invest in individual companies and potentially benefit from their performance and dividends. In the forex market, Xtrade offers a vast selection of currency pairs, enabling traders to capitalize on fluctuations in exchange rates between various currencies.
For those seeking diversification, Xtrade provides access to Exchange-Traded Funds (ETFs). ETFs are investment funds that track the performance of a specific index or sector, allowing traders to gain exposure to a basket of assets with a single trade. Moreover, Xtrade offers the opportunity to trade bonds, enabling traders to invest in fixed-income securities issued by governments or corporations.
With this extensive range of market instruments, Xtrade empowers traders to diversify their portfolios and take advantage of various trading opportunities across different asset classes.
Pros | Cons |
Diverse range of tradable assets | Limited availability of some niche markets |
Access to global markets | Possible volatility in certain instruments |
Opportunities for portfolio diversification | Limited selection of exotic currency pairs |
Potential for profit in various sectors | Spreads may widen during volatile periods |
Availability of major indices and stocks | Limited range of cryptocurrency offerings |
Xtrade offers different account types to cater to the varying needs of traders, starting with the Standard account. With a minimum deposit requirement of $250, the Standard account is ideal for beginners who are new to trading or prefer to start with a smaller investment. This account provides access to a user-friendly trading platform, educational resources, and basic trading features, allowing traders to gain experience and knowledge in the financial markets.
Moving up the ladder, the Premium account requires a minimum deposit of $1,000. This account type is suitable for intermediate traders who have a bit more experience and seek competitive trading conditions. Traders with a Premium account can enjoy a wider range of tradable assets, receive regular market updates, and access customer support services to assist them in their trading journey.
For traders looking for an even higher level of service and benefits, Xtrade offers the Platinum account. Requiring a minimum deposit of $5,000, the Platinum account provides traders with enhanced features, including tight spreads, faster trade execution, and dedicated account managers who can offer personalized guidance and support. This account type is suitable for traders who desire a premium trading experience and want access to advanced trading tools.
Lastly, Xtrade offers the VIP account, which is designed for experienced and high-net-worth traders. With a minimum deposit requirement of $20,000, the VIP account provides exclusive benefits such as priority customer support, lower trading costs, and advanced trading tools. Traders with a VIP account can enjoy personalized services and assistance from dedicated account managers to meet their specific trading needs.
Account Type | Pros | Cons |
Standard | - Suitable for beginners with a lower minimum deposit | - Limited trading features compared to higher tiers |
- Access to educational resources and basic trading tools | - Less competitive trading conditions | |
Premium | - Wider range of tradable assets | - Higher minimum deposit requirement |
- Regular market updates and customer support | - Not as advanced as the Platinum and VIP accounts | |
Platinum | - Enhanced features including tight spreads | - Higher minimum deposit requirement |
- Dedicated account managers for personalized assistance | - May not be accessible for all traders | |
VIP | - Exclusive benefits such as priority support | - Very high minimum deposit requirement |
- Lower trading costs and advanced trading tools | - Designed for experienced and high-net-worth traders |
Opening an account with Xtrade is a straightforward process.
1. To begin, visit the Xtrade website and click on the “Open Account” button.
2. Fill out the registration form with your personal details, including your name, email address, and phone number.
3. Next, choose your desired account type and leverage level. After completing the form, review and accept the terms and conditions.
4. Finally, verify your account by providing the necessary identification documents as requested by Xtrade. Once your account is approved, you can proceed to fund it and start trading in the financial markets with Xtrade's user-friendly trading platform.
Xtrade provides traders with flexible leverage options across various instruments. The leverage offered by Xtrade varies depending on the trading asset. For forex trading, the maximum leverage available is up to 1:400, allowing traders to amplify their trading positions. When it comes to commodities, the leverage reaches up to 1:200, offering traders the opportunity to trade larger volumes with a smaller initial investment. Shares trading on Xtrade's platform has a maximum leverage of 1:10, enabling traders to take advantage of price movements in the stock market. Lastly, for cryptocurrency trading, the leverage ranges from 1:10 to 1:50, depending on the specific digital asset.
Xtrade offers spreads that are not considered highly competitive, with the benchmark spread on EURUSD ranging from 2 to 5 pips. The spreads indicate the difference between the buying and selling prices of a trading instrument, and in the case of Xtrade, they may be slightly wider compared to some other brokers in the market. It's important for traders to consider the spreads as they directly impact the overall cost of trading.
However, it's worth noting that the exact commission charges associated with trading on Xtrade's platform are not specified. Traders should evaluate the overall trading conditions, including spreads and any applicable commissions, to make informed decisions regarding their trading strategy on Xtrade.
Apart from trading fees, Xtrade may charge non-trading fees, which refer to fees not directly related to trading activities. These fees can include charges for account inactivity, withdrawal fees, or fees for certain payment methods. It is important for traders to familiarize themselves with the specific non-trading fees imposed by Xtrade, as they may vary depending on the account type and the services utilized. Being aware of these fees can help traders effectively manage their trading costs and make informed decisions.
Xtrade offers a user-friendly trading platform designed to meet the needs of modern traders. One of the platform options available is the WebTrader, which allows traders to access their accounts and trade directly from their web browser. It provides a seamless trading experience with advanced charting tools, real-time market quotes, and an intuitive interface. The WebTrader platform is accessible from any device with an internet connection, making it convenient for traders who prefer trading on the go.
For traders who prefer to trade on their mobile devices, Xtrade provides a mobile trading app compatible with both iOS and Android systems. The mobile app offers full functionality, enabling traders to monitor their positions, place trades, and access real-time market information. It is designed to be user-friendly and responsive, providing a smooth and efficient trading experience even on smaller screens.
Additionally, Xtrade offers a tablet trading app, optimized for larger screens and providing enhanced features for tablet users. The tablet app combines the convenience of mobile trading with the expanded functionality of a larger display, allowing traders to analyze charts, execute trades, and manage their portfolios with ease.
Xtrade presents a range of enticing promotions and bonuses to enhance the trading experience for its clients. Traders can take advantage of the First Deposit Bonus, which offers a rewarding boost of up to $5000 on their initial deposit. Additionally, by completing a simple Phone Verification process, traders can earn a $25 Cash bonus as a gesture of appreciation. The “First Trade on us” promotion allows traders to enjoy a cash bonus of up to $500 when placing their initial trade. Furthermore, by verifying their trading account, clients can receive a generous 20% bonus as part of the Account Verification promotion. These promotions provide traders with added value and potential rewards, giving them a head start in their trading journey with Xtrade.
Xtrade offers flexible deposit and withdrawal options to cater to the diverse needs of its clients. While the standard minimum deposit is $250, Xtrade occasionally runs promotions that allow for lower deposit thresholds, providing more accessibility for traders. Clients can choose from various payment methods, including credit/debit cards, bank transfers, and American Express, among others. The availability of deposit options may vary depending on the country of residence.
When you request a withdrawal, the funds are returned using the same method you used for depositing. For example, if you deposited funds using a credit card, the withdrawal amount will be credited back to that card. Similarly, if you used a bank transfer for deposit, the withdrawal will be transferred back to your bank account. In the case of deposits made through e-wallets like Skrill or Neteller, the withdrawal will be returned either through a bank transfer or directly to the e-wallet. It's important to note that withdrawal requests typically take up to five business days to process. However, please be aware that external factors beyond our control, such as credit card companies or intermediary banks, may cause delays of up to three weeks in extreme cases. Normally, bank transfer or credit/debit card refunds are completed within 10 business days, while e-wallet payments are processed instantly once the withdrawal is approved.
Customer Support
Xtrade prioritizes providing excellent customer support to its clients. With their dedication to customer satisfaction, Xtrade offers round-the-clock customer support, ensuring assistance is available 24 hours a day, 6 days a week. This allows traders from different time zones to access support whenever they need it. The customer support team is multilingual, capable of assisting clients in various languages, further enhancing the accessibility and inclusivity of their services.
Clients can reach out to Xtrade's customer support through multiple channels, including email, phone, and online chat. This diverse range of contact options allows traders to choose the method that suits them best for efficient and convenient communication. Whether clients prefer written correspondence, direct phone conversations, or real-time chat support, Xtrade accommodates their preferences.
To provide additional assistance and address common inquiries, Xtrade offers a detailed FAQ section. This comprehensive resource covers a wide range of topics, including account registration, deposits and withdrawals, trading platforms, trading conditions, and more. The FAQs provide clear and concise answers to frequently asked questions, empowering traders with the necessary information to navigate the platform and make informed decisions.
Xtrade offers a comprehensive range of educational resources designed to empower traders with knowledge and skills. Their educational offerings include video tutorials, which provide step-by-step guidance on various trading concepts and strategies. These tutorials are easy to follow and cater to traders of all levels, from beginners to advanced.
In addition to video tutorials, Xtrade provides interactive courses that cover a wide range of trading topics. These courses are carefully curated to provide traders with a structured learning experience, allowing them to delve deeper into specific areas of interest and enhance their trading proficiency.
For traders looking to familiarize themselves with industry terminology, Xtrade offers a comprehensive glossary. This glossary serves as a valuable reference tool, providing clear and concise definitions of key trading terms and jargon.
To keep traders informed about the latest market trends and developments, Xtrade offers a wealth of trading information. This includes real-time market news, analysis, and insights, enabling traders to stay updated and make informed trading decisions.
Xtrade's blog is another educational resource that offers a wealth of informative articles on various trading topics. From market analysis and trading strategies to risk management and psychology, the blog covers a wide range of subjects to help traders expand their knowledge and refine their trading approach.
Lastly, Xtrade prioritizes trading education and provides access to additional educational materials such as e-books, webinars, and seminars. These resources offer valuable insights and perspectives from industry experts, further enriching traders' learning experience.
Overall, Xtrade's educational resources aim to equip traders with the knowledge and skills necessary to navigate the financial markets effectively. By offering a diverse range of educational tools, Xtrade strives to support traders in their quest for continuous growth and improvement.
Xtrade offers a wide range of trading opportunities with its user-friendly platform and diverse tradable assets. The broker is regulated by ASIC and FSC, and the leverage provided offers flexibility to traders. Customer support is readily available, and the broker supports various payment methods. Xtrade also provides educational tools to enhance traders' knowledge and skills. On the downside, there may be delays in withdrawal processing, particularly when involving third-party payment methods. Besides, it is important to note that spreads may vary and some non-trading fees may apply. Overall, Xtrade presents an opportunity for traders to explore the financial markets, but it is important to consider both the advantages and limitations before engaging in trading activities.
Q 1: | Is XTrade regulated? |
A 1: | Yes. It is regulated by Australia Securities & Investment Commission (ASIC). |
Q 2: | Does XTrade offer demo accounts? |
A 2: | Yes. |
Q 3: | Does XTrade offer the industry-standard MT4 & MT5? |
A 3: | No. Instead, it offers a WebTrader. |
Q 4: | Does Xtrade charge commission? |
A 4: | No. Xtrade does not charge commissions, only spreads are calculated. |
Q 5: | What is the minimum deposit for XTrade? |
A 5: | The minimum initial deposit to open an account is $250. |
Q 6: | Is XTrade a good broker for beginners? |
A 6: | Yes. XTrade is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Registered in | Cyprus |
Regulated by | CYSEC, FCA |
Year(s) of establishment | 2-5 years |
Trading instruments | 300+ instruments, including Forex, Metals, Indices, Commodities, Futures and Shares |
Minimum Initial Deposit | Information not available |
Maximum Leverage | 1:30 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, WebTrader |
Deposit and withdrawal method | VISAMasterCardMaestroSkrillNetellerDotPay |
Customer Service | 24/5, Email, phone number |
Fraud Complaints Exposure | No for now |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Wide range of trading instruments including Forex, Metals, Shares, Futures and Cryptocurrencies.
Multiple account types including STP/ECN, Zero Spread and VIP accounts.
Various deposit and withdrawal methods with no fees from IronFX's side.
Availability of Islamic accounts for traders adhering to Shariah law.
Customer support is available 24/5 via phone and email.
Cons:
Educational resources are not available, which may be a disadvantage for beginner traders.
The maximum leverage is limited to 1:30, which may not be suitable for high-risk traders seeking higher leverage.
Limited regulatory oversight, with the company being regulated by only one top-tier regulator.
High commissions for some account types and instruments, which may result in higher trading costs for traders.
Limited availability in certain countries, which may restrict access for some potential clients.
Advantages | Disadvantages |
IronFX offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, IronFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
IronFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IronFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that IronFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with IronFX or any other MM broker.
IronFX is a global online trading platform that provides access to a wide range of financial markets including forex, stocks, metals, commodities, and indices. Founded in 2010, IronFX is regulated by multiple financial authorities and provides clients with access to various trading platforms, including MetaTrader 4 and WebTrader. The company offers a range of account types, trading tools, and educational resources to cater to the needs of traders with different levels of experience. IronFX has won numerous awards for its products and services, including Best FX Broker, Best Trading Platform, and Best Customer Service Provider.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of instruments | Some instruments may have low liquidity |
Opportunity for diversification | Some instruments may have wide spreads |
Variety of currency pairs | Trading too many instruments can be overwhelming |
Access to different asset classes | Complexity of tracking multiple instruments |
IronFX offers over 300 trading instruments, including forex, metals, indices, commodities, futures, and shares. This wide range of options provides traders with the opportunity to diversify their portfolios and take advantage of various market conditions. With over 80 currency pairs, including major, minor, and exotic pairs, IronFX provides access to a range of global markets. While some traders may find the number of available instruments overwhelming, this variety provides numerous trading options and the opportunity to capitalize on different market trends. However, some instruments may have low liquidity, leading to wider bid-ask spreads, and high volatility, leading to greater risk exposure. Additionally, trading a large number of instruments may require a greater amount of research and analysis, and some instruments may have high margin requirements, leading to greater risk and capital requirements.
Advantages | Disadvantages |
Low spreads on certain account types and instruments | Lack of transparency on minimum deposit |
Competitive commissions for certain account types | Lack of information on swap rates |
No commissions on certain account types and instruments | Limited information on other trading costs such as slippage or overnight fees |
Wide range of instruments to trade |
IronFX offers a range of spreads, commissions, and other costs depending on the account type and instrument traded. For example, the live floating spreads of EURUSD in VIP account can be as low as 0.6 pips, which is highly competitive. Additionally, IronFX provides competitive commissions for certain account types, such as $10 per lot on STP/ECN Zero Spread account for trading EURUSD. On the other hand, IronFX lacks transparency in providing information on minimum deposit and swap rates, which may be a disadvantage for traders. Additionally, the lack of information on other trading costs such as slippage or overnight fees may be a drawback for traders who want to accurately assess the total cost of trading with IronFX. Despite these drawbacks, IronFX offers a wide range of instruments to trade, providing traders with multiple options to diversify their portfolio.
Advantages | Disadvantages |
Wide range of account types to choose from | Minimum initial deposit not disclosed |
Multiple base currency options | Zero fixed spread account may have high commission fees |
Flexible leverage up to 1:30 | |
Commission-free trading available |
IronFX offers a variety of account types to cater to the different needs of traders, including standard accounts, premium accounts, VIP accounts, zero fixed accounts, no commission accounts, zero spread accounts, and absolute zero accounts. Traders can choose between fixed and floating spreads, as well as commission and non-commission accounts. The minimum lot size is 0.01, making it easier for traders to manage their risk, and the base currencies include USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK, and BTC. However, IronFX does not disclose the minimum initial deposit, which can be a disadvantage for some traders. Additionally, the leverage offered is limited to 1:30, which may not be suitable for more aggressive traders.
Live Floating/Live Fixed Spreads
Account Type | Standard | PREMIUM | VIP | ZERO FIXED |
Spreads from: | 1.8 | 1.6 | 1.4 | 0 |
Flexible Leverage up to | 1:30 | 1:30 | 1:30 | 1:30 |
Base Currency | USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK | USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK | USD | USD |
Minimum Lot Size | 0.01 | 0.01 | 0.01 | 0.01 |
Commission | No | No | No | No |
STP/ECN Accounts
Account Type | NO COMMISSION | ZERO SPREAD | ABSOLUTE ZERO |
Spreads from: | 1.7 | 0 | 0.3 |
Flexible Leverage up to | 1:30 | 1:30 | 1:30 |
Base Currency | USD, EUR, GPB. AUD, JPY, CHF, PLN, CZK | USD, EUR, GPB. AUD, JPY, CHF, PLN, CZK | USD, EUR, JPY |
Minimum Lot Size | 0.01 | 0.01 | 0.01 |
Commission | No | Yes | No |
Advantages | Disadvantages |
Two platform options: MT4 and WebTrader | Limited platform options compared to other brokers |
MT4 is a widely recognized and popular platform with advanced charting and technical analysis tools | WebTrader may have limited features compared to the desktop version of MT4 |
MT4 allows for customization with the use of Expert Advisors (EAs) and indicators | No proprietary platform offered |
MT4 has a large online community where traders can share ideas and strategies | Learning curve may be steep for new traders unfamiliar with MT4 |
MT4 is available on desktop, mobile, and tablet devices for convenient access |
IronFX offers two platform options for traders to choose from: the popular MetaTrader 4 (MT4) platform and the WebTrader platform. MT4 is a widely recognized platform in the industry known for its advanced charting and technical analysis tools, as well as the ability to use Expert Advisors (EAs) and indicators for customization. It is available on desktop, mobile, and tablet devices, providing convenient access for traders. Additionally, MT4 has a large online community where traders can share ideas and strategies. The WebTrader platform is accessible through a web browser and may have limited features compared to the desktop version of MT4. However, it provides an alternative option for traders who may not be able to download the MT4 platform. One disadvantage of IronFX's platform options is the limited selection compared to some other brokers, and the learning curve may be steep for new traders who are unfamiliar with MT4.
Advantages | Disadvantages |
Allows traders to increase potential profits with a smaller initial investment | High leverage can increase potential losses |
Provides flexibility to trade larger positions | Requires strict risk management and trading discipline |
Can be suitable for experienced traders with a solid understanding of leverage | Inappropriate use of leverage can lead to margin calls and account liquidation |
Can offer opportunities for diversification and risk management | Not suitable for all traders, especially beginners |
IronFX offers a maximum leverage of up to 1:30, which allows traders to increase potential profits with a smaller initial investment and provides flexibility to trade larger positions. However, high leverage can increase potential losses, and requires strict risk management and trading discipline to avoid margin calls and account liquidation. Although leverage can offer opportunities for diversification and risk management, it is not suitable for all traders, especially beginners who may not have a solid understanding of leverage. Therefore, traders must carefully consider their risk appetite and experience level before deciding to trade with leverage.
IronFX offers a variety of deposit and withdrawal options for traders. Bank wire transfers have no deposit fees, but may be subject to corresponding and intermediary bank fees. Credit/debit card deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals may have fees up to EUR 1.5 per transaction. Skrill and Neteller deposits have a maximum transaction amount of USD 50,000 per transaction and no fees, but withdrawals have a maximum transaction amount of USD 50,000 per transaction and Neteller withdrawals have a minimum fee of USD 1.00 per transaction. DotPay withdrawals have a maximum transaction amount of PLN 200,000 with no associated withdrawal fees.
Deposit
Credit Card/Debit Card | Deposit Fees | Maximum transaction amount |
VISA | USD 50,000 per transaction | |
MasterCard | USD 50,000 per transaction | |
Maestro | USD 50,000 per transaction | |
Bank Wire | Deposit Fees | |
Bank wire | Depends on the corresponding and intermediary banks. IronFX does not apply any fees. | |
Skrill | Deposit Fees | Maximum transaction amount |
USD 50,000 per transaction | ||
Neteller | Deposit Fees | Maximum transaction amount |
USD 50,000 per transaction | ||
DotPay | Deposit Fees | Maximum transaction amount |
PLN 200,000 |
Withdraw
Credit Card/Debit Card | Withdrawal Fees | Maximum transaction amount |
VISA | up to EUR 1.5 per transaction | USD 50,000 per transaction |
MasterCard | up to EUR 1.5 per transaction | USD 50,000 per transaction |
Maestro | up to EUR 1.5 per transaction | USD 50,000 per transaction |
Skrill | Withdrawal Fees | Maximum transaction amount |
1% capped to USD 10,000 | USD 50,000 per transaction | |
Neteller | Withdrawal Fees | Maximum transaction amount |
2% capped to USD 30.00 / minimum USD 1.00 per transaction | USD 50,000 per transaction | |
DotPay | Withdrawal Fees | Maximum transaction amount |
N/A | PLN 200,000 |
Advantages | Disadvantages |
N/A | Lack of educational resources |
N/A | No access to trading guides |
N/A | No webinars or seminars |
N/A | No trading videos or tutorials |
N/A | No market analysis or news updates |
IronFX does not offer any educational resources to its clients, which can be a significant disadvantage for beginner traders who are looking to improve their trading skills and knowledge. The lack of trading guides, webinars, seminars, trading videos, and tutorials can make it difficult for traders to understand how the financial markets work and how to trade successfully. Additionally, without access to market analysis or news updates, traders may struggle to stay informed about the latest developments in the financial markets, which could impact their trading decisions. Overall, the absence of educational resources can limit the potential of traders and make it challenging to stay competitive in the financial markets.
Advantages | Disadvantages |
24/5 support line | No 24/7 support |
Email support with response within 24 hours on business days | No live chat support |
IronFX offers customer care services through email support and a support line that is available to answer calls 24/5. Customers can expect to receive a response within 24 hours during business days when they send an email to the support team. However, there is no live chat support available, and the customer care services are not available 24/7. Also, the language support provided is limited, which may be a disadvantage for some customers.
Overall, IronFX is a well-established and regulated online brokerage firm offering a wide range of trading instruments, including forex, metals, indices, commodities, and shares, to its clients. The company offers multiple account types and trading platforms, catering to the needs of different types of traders. It also provides its clients with access to various deposit and withdrawal options, as well as a dedicated customer support team. However, the lack of educational resources and limited research tools may make it less suitable for novice traders. Additionally, the high minimum deposit requirement and relatively high fees may make it less accessible for some traders. Nonetheless, IronFX's strong regulation, multiple trading instruments, and flexible account options make it a competitive choice for experienced traders.
Question: What is the maximum leverage offered by IronFX?
Answer: IronFX offers a maximum leverage of up to 1:30.
Question: What trading platforms are available at IronFX?
Answer: IronFX offers both MT4 and WebTrader trading platforms for its clients.
Question: What are the available deposit methods at IronFX?
Answer: IronFX offers deposit methods such as credit/debit card (Visa, Mastercard, Maestro), bank wire, Skrill, Neteller, and DotPay.
Question: Does IronFX charge any deposit fees?
Answer: IronFX does not apply any deposit fees for bank wire transfers, Skrill, Neteller, and DotPay. However, deposit fees may apply for credit/debit card transactions.
Question: What are the available withdrawal methods at IronFX?
Answer: IronFX offers withdrawal methods such as credit/debit card (Visa, MasterCard, Maestro), Skrill, Neteller, and DotPay.
Question: Does IronFX offer any educational resources for traders?
Answer: Unfortunately, IronFX does not offer any educational resources for traders.
Question: What is the customer support availability at IronFX?
Answer: IronFX offers email support with a response time of 24 hours on business days, and a support line available 24/5 to answer client calls.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive xtrade and ironfx are, we first considered common fees for standard accounts. On xtrade, the average spread for the EUR/USD currency pair is -- pips, while on ironfx the spread is 0.3.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
xtrade is regulated by ASIC,FSC,CYSEC. ironfx is regulated by FCA,FSCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
xtrade provides trading platform including VIP,Platinum,Premium,Standard and trading variety including --. ironfx provides trading platform including ABSOLUTE ZERO,ZERO SPREAD,NO COMMISSION ,ZERO FIXED,VIP,PREMIUM ,STANDARD and trading variety including --.