IronFX Review

sign-up-green1
$1
Minimum Deposit
1:500
Maximum Leverage
0 Pips
Minimum Spread
8 TradeForexSA
Pros
  • Regulated by FSB - FSP no 45276
  • Trade in South African Rand
  • Offers trading by phone
  • Offers managed accounts
  • Multiple funding options
  • Rewards for big traders
  • Award-winning software
Cons
  • Charges deposit and withdrawal fees on some methods
  • No guaranteed stop losses
Summary
In 2010 IronFX hit the scene with a relatively new take on investing: transparency. This award-winning leader in online trading makes sure to explain everything up front on their website and has customer service available most days of the week if you have any questions or run into any problems. There are 50 offices all over the world, including in South Africa and they offer service to over 180 countries. They offer support in almost 30 different languages as well. You will find several different bonus structures for you to gain from as well as many different account types for flexible investment options.
Account Types8.5
Free Services7.5
Support8.5
Deposit & Withdrawal7.5

Account types

Micro account

The micro account has no minimum deposit, but you should either be prepared to deposit a minimum of $100 or start by using the demo account.  In this account you have the option to trade in micro lots, trade in ZAR, have either fixed or variable spread options, and a leverage of 1:1 to 1:500 depending on your experience in trading.  You will also have an account manager available to you 24/5 with their offices closed on weekends when the currency markets are closed.

Premium account

The premium account has a minimum deposit of $2,500 and offers tighter spreads and the option to phone in your trade via their dealing department hotline.  The same leverage and account manager access exists as with the micro account.

VIP account

  • Minimum deposit $20,000
  • Account available in USD
  • Ability to trade mini lots
  • Fixed or Variable spread
  • Leverage from 1:1 up to 1:500
  • Account Manager available 24/5
  • Dealing department hotline transaction

STP/ECN account

  • Minimum deposit $500
  • STP/ECN account available in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB and HUF
  • Spreads starting from as low as 0 pips
  • Leverage from 1:1 up to 1:200
  • Choose between STP No Commission and STP Zero Spread account
  • Ability to trade micro lots

Zero Fixed Spread account

  • Minimum deposit $500
  • Ability to trade micro lots
  • Account available in USD, EUR, GBP, JPY, CHF, PLN, HUF, RUB, AUD
  • Leverage from 1:1 up to 1:500
  • Leverage on Metals will be 1/5 of the account leverage. Max Leverage can be 1:100 when account leverage is 1:500
  • Account Manager available 24/5

Mirror account

  • Lower stop-out levels
  • Instant internal transfers
  • Greater leverage up to 1:200 on STP account

Business accounts

  • Corporate
  • Institutional
  • Trust

Managed accounts

  • Athena Investment S.A.
  • Intercore Financial GmbH
  • Arete Trading GmbH

Bonus structure

  • Cash rebate bonus – Up to $3 USD per lot
  • VIP promotion – Welcome bonus on all deposits and up to $2000 USD cash back
  • Refer-a-friend – Get a bonus for referring friends and family
  • Free iPad Air or iPhone6
  • Free VPS hosting – For new and existing clients who deposit a minimum of $5000 and maintain the balance for a certain number of months

Unique selling points

  • Lowest spreads on the market for VIP accounts
  • Multiple trading platforms
  • Award winning software
  • Office in South Africa

The breakdown

There are many benefits of choosing award-winning IronFX. They offer several different account types for both personal and business investments while maintaining good account support with an office locally in South Africa.