IronFX review and ratings

Established 2010
Location Australia UK South Africa Bermuda
Regulation ASIC, FCA, FSCA
Offices London, Johannesburg, Sydney, Hamilton
Broker type STP | ECN
Leverage up to 1:1000
Deposit from 100 USD
Spreads mid  mid
Platforms Web MetaTrader 4
Instruments Currencies Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay UnionPay DotPay

Company information

IronFX group includes 4 related companies.

IronFX AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
IronFX UK - located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
IronFX SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
IronFX BM - legally registered entity located in Bermuda, but not regulated by any government agency.

Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, BM company accepts European and Australian traders, so one can open a trading account there.


IronFX accepts clients from all over the world, excluding USA, Cuba, Sudan, Syria, North Korea and some other OFAC sanctioned countries.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

80+ Currency Pairs Based on major and minor world currencies.
5 Currency Futures Based on Euro, Japanese Yen, Australian Dollar, British Pound, Swiss Frank.
16 Indice Cash CFDs Based on baskets of different blue-chip stocks.
9 Indice Futures Based on baskets of different blue-chip stocks and US Dollar Index.
6 Metal CFDs Based on Gold, Silver, Platinum and Palladium.
1 Metal Future Based on Copper.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
8 Soft Futures Based on Corn, Soybeans, Wheat, Coffee, Cocoa, Rice, Sugar, Cotton.
100+ Stock CFDs Based on shares of US, UK and EU companies.

Comprehensive review

IronFX is a forex & CFD broker with branches based in Australia, the UK, Cyprus and South Africa, as well as an offshore entity registered in Bermuda. With the exception of the offshore entity, all the local branches of IronFX are regulated by the respective financial regulators in the countries they are based in.

As usual with forex brokers, new clients will generally be signed up with the entity of the broker that is based in the trader’s own jurisdiction. For example, traders based in an EU/EEA country will be assigned to IronFX’s branch in Cyprus, and Australian traders will be assigned to the ASIC-regulated branch. As a consequence of this, leverage for these traders will be limited to maximum of 1:30 for even the most liquid currency pairs, in accordance with regulations in the EU and Australia.

With IronFX, however, a way to get around these regulations is to instead try to sign up with the unregulated entity of the broker based in Bermuda. This can be done either by accessing directly, while verifying that this indeed is the site of the Bermuda-registered branch, or by requesting customer support to make the change.

Under the Bermuda-based branch, traders with IronFX can enjoy leverage all the way up to 1:1,000 on their trades. Meanwhile, the branch based in South Africa ( allows for up to 1:500 in leverage.

The instruments that can be traded on IronFX includes a wide selection of everything from stocks of US and European companies, to more than 80 foreign currency pairs, and CFDs on index futures, spot indices, and a range of commodities. Among the assets we are missing, however, are cryptocurrencies, which for some reason are not offered by IronFX.

All of the instruments offered by IronFX can be traded on the classic MetaTrader 4 (MT4) platform, which the broker offers both in the standard downloadable version for Windows computers, as well as in a web-based version, and as apps for Apple and Android mobile devices.

In terms of the account types traders can choose from, IronFX has a pretty standard line-up consisting of one ECN-type account (Zero Fixed) with commissions but tight spreads, and three different STP-style accounts (Standard, Premium, and VIP) with no commission but with wider spreads.

For traders who choose the Zero Fixed ECN account, spreads can go as low as 0.0 pips on the popular EUR/USD forex pair. Meanwhile, floating spreads on the VIP STP account starts from 0.5 pips for the same pair, which is also a pretty good offering in our view.

All trading accounts can be funded through all the usual payment methods, including e-wallets like Skrill, Neteller, FasaPay, and DotPay. In addition, bank transfers and card deposits (Visa, MasterCard, UnionPay) are of course also available as usual. At the time of this writing, however, cryptocurrency deposits are unfortunately not accepted by IronFX.

Fortunately for clients, IronFX’s customer service is easily accessible via the live chat function on the broker’s website. In addition, the broker also offers support via phone, open 24 hours a day on all trading days, which is something we believe is always a good thing.

Finally, we believe it’s clear that IronFX is a player that knows the forex brokerage industry well, having been around since all the way back in 2010. Further, we are also fairly satisfied with this broker’s wide selection of trading instruments, although some traders may miss the chance to trade crypto CFDs. Lastly, the broker is also fully regulated in several reliable jurisdictions, which is always a good sign.

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