Iron Forex is a Cyprus headquartered and CySec licensed online forex company belonging to Totalserve Management Ltd. a highly reputable Cyprus based group of companies specializing in tax, audit and corporate fiduciary service since 1972. Iron Forex has been online since late 2010 and has opened its doors to retail traders in early 2011 with a state of the art website which corresponds to the reputability of the overall group of companies to which it belongs to.
Although Ironforex can be categorized as a newcomer to the online forex marketplace the team behind its management consists of experienced traders and key officials of the global forex market including ex key officials of AC Markets Middle East and Senior Account Managers of FxPro which have joined powers to venture a new brand which comes with the guarantees of a reputable group of companies.
Offerings are very much competitive and in the high range of the market and correspond to the high end website which is hosted at Ironforex.com which we as traders can positively comment on in terms of both functionality and usability. Iron forex offers a series of Trading platforms catering to both desktop and mobile traders with a 5 in 1 combo of a series of trading platforms which can be accessed from within the same account.
Trading platforms offered at Iron Forex include the popular Iron Forex MT4 which comes fully loaded with all features, the Iron Forex Webtrader which is ideal for traders accessing their account from multiple locations, the Iron Forex iphone trader which is fully compatible with the range of Apple mobile devices including the iphone5, the iphone5 and the latest ipad, the Iron Forex Blackberry trader and last the Iron Forex Multi terminal which is ideal for traders or account managers which managed multiple accounts from the same desktop.
All the 5 trading platforms offered by Iron Forex share a unique account and therefore funding, withdrawal, backoffice features and support is shared across the border with no limitations and no hassles.
Ironforex.com is offered is currently offered in 7 languages which include English, Arabic, Japanese, Romanian, Russian, Chinese and Greek. The range of trading accounts catered by Iron Forex include 4 main types of accounts which include a 100% free MT4 demo account which allows access to all the supported trading platforms.
Real accounts are offered in 3 main types which include the Standard Account, the Premium Account and the Business Account which all differ in offerings and minimum and maximum deposit. Although minimum deposit is absent from the account description under the relevant accounts tab at Iron Forex, maximum deposit for Standard Account is $4,999 and offers access to 106 instruments with main difference to Premium Accounts being the higher spreads which in the case of Standard Account go as low as 0.8 pips on majors where on Premium Accounts reach as low as 0.4 pips. Additionally the Iron Forex Premium Accounts allow access to a bigger range of instruments totalling to 122 trading instruments in total and additionally enable dedicated Account Manager features which is a feature not offered to Standard Account holders. Iron Forex trading instruments include Forex (Currency Trading) with competitive spreads going as low as 1 pip, Spot Metal Trading with margin as low as 1%, Futures and Shares for Major UK and US stock listed companies.
The Iron Forex board of Directors includes key officials of the worldwide financial scene including ex-partners of worldwide respected Deloitte Audit and Tax, Mr Peter Economides a key official of the Cypriot Economy and a the founder of the Iron forex holding company Totalserve and Mr. Markos Kashiouris a Cypriot born Chartered Accountant which during his career has proved excellence in areas including Banking, Real Estate Ventures and Auction Houses with a strong background at JP Morgan, Commerzbank Securities and Terra Sothebys Realty Cyprus of which he is a cofounder.
- Iron Forex is Licensed and Regulated by the Following
- CySec Cyprus Security and Exchange Comission
In addition you should check on the website of the regulator for any complains against the broker as some regulators (i.e. the FSA) post all cases online.
Iron Forex Metatrader
As a solid member of the Iron Forex 5 in 1 trading platforms the Ironforex MT4 is a key offering of the actual forex broker with a fully loaded MT4 platform offered for both Demo and Real Trading use. The Iron Forex MT4 allows unlimited use of Forex EA programs which can capitalize on the competitive spreads offered by ironforex.com.
Iron Forex Demo
Demo Accounts at Iron Forex are offered in free non expiring format and allow access to the whole range of platforms offered by Iron Forex including the inhouse developed Iron Forex Webtrader. Beginner traders have the opportunity to capitalize on the demo offering at Iron Forex and experience a virtual trading environment with all 5 platforms offered by ironforex.com from one account.
Iron Forex Accounts
- There are three types of accounts offered at Iron Forex
- Standard – Maximum Deposit $4.999
- Premium – Minimum Deposit $5,000
- Business Accounts
There is no information in regards to the dealing desk policy of Iron Forex on the actual ironforex.com website although the particular broker advertises an instant execution policy with No Slippage. Re-Quote policy is not specified.
Iron Forex Spreads
Spreads come as low as 0.4 pips on Premium Accounts and at 0.8 pips on Standard Accounts leaving us to the conclusion that the particular broker by default offers a variable spread policy by default although not specified.
Iron Forex Leverage
Leverage Offerings in Not Specified on ironforex.com
Iron Forex Bonuses
Iron Forex offers a 20% bonus for all new Standard Accounts and a 15% bonus for all new Premium Accounts.
Iron Forex Mobile Trading Accounts
Iron Forex offers mobile trading through its ipad and iphone trading platform and through its MT4 Blackberry Trading Platform
Funds Deposit and Withdrawal
Deposits and Withdraws are accepted through Paypal, Credit Cards, Moneybookers, Neteller and Direct Bank Wire Transfer with charges associated not covered by the broker. Be aware that all electronic wallets have steep charge when transferring money so using them at brokers that do not reimburse costs is not preferred.
Iron Forex Review
Iron Forex is a forward thinking broker which is backed up from a very trusted institution therefore helping it build up its reputation with the help of its fair offerings and its innovative features. The ironforex.com website is of high standards although it lacks important information crucial for any trader including leverage offerings. We would overall rated this broker as medium to above average due to its tidy features and its offerings. Customer Service is not of Class A but it is acceptable. Dealing Desk type is not explained thoroughly which we feel is a miss and even more Electronic wallet deposit charges are not reimbursed which we feel is a major miss too. Overall Ironforex an above average licensed broker; recommended.