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IronFX Brokers Fees, Forex Spreads, Leverages & Commissions (2022)

IronFX Fees and Spreads

 

Overall Rating

4.5/5

Rated #187 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, FSCA, CySEC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

IronFX spreads start from 1.2 pips, the broker does not appear to charge commissions. IronFX doesn’t charge any account fees, while deposits and withdrawals are also free of charge.

IronFX also charges an inactive fee of $50.

Finding a reputable list about IronFX Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

 

The IronFX spread list is as follows:

Aside from the Fixed Zero account, spreads at IronFX start at 0.7 pips for the major currency pairs while the average is 1.2 pips. Of course, spreads do widen during periods of volatility and low trading volume.

Spreads get more competitive as you move up the account tier structure, with the VIP account offering the best value for money. Overall, spreads and commission fees are competitive and similar across IronFX products.

Traders should note that the broker is using fractional pips pricing for the client to benefit from rounding. Instead of 4 decimal places, the broker uses 5, and therefore the ten pips mark you see is 1.0 pip.

Traders will also have to be aware of possible requotes. The requote statement usually pops up to inform traders that the execution price has changed and allows traders to decide whether they wish to accept the new price.

The advertised price affected by high market volatility can change in a split second, and the broker needs to offer you the latest market price. In such an event, you can either accept the new requoting or reject the new price and cancel the execution of the transaction.

Another possible reason for getting requotes could be a bad internet connection, which can delay the transmission of orders; in this situation, you will see old prices instead of current market prices.

 

Additional Trading Fees

 

IronFX charges a $50 inactivity fee for trading accounts sat idle for over a year. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.

 

Overall Rating

4.5/5

Rated #187 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, FSCA, CySEC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Broker Fees

 

Traders also need to ensure that they verify additional broker fees which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency which is different from their account base currency.

IronFX is not a spread betting broker, so spread betting fees will not apply.

The broker does offer an Islamic Account, so that Sharia-compliant traders can avoid overnight fees, or swap fees.

 

Pros and Cons

✔️ PROS ❌ CONS
Tight spreads

No deposit fees

Additional broker fees can be high

Withdrawal fees apply during periods of inactivity

 

You might also like: IronFX Minimum Deposit

You might also like: IronFX Demo Account

You might also like: IronFX Sign up Bonus

You might also like: IronFX Account types

You might also like: IronFX Islamic Account

 

FAQ’s

 

How many instruments can I trade with IronFX

IronFX offers over 200 tradable financial instruments across:

  • Forex
  • Indices
  • Shares
  • Metals
  • Futures
  • Commodities
  • Cryptocurrencies

 

Which platforms are supported by IronFX?

MetaTrader 4 and WebTrader

 

Does IronFX offer leverage?

Yes, a maximum leverage of 1:1000 for traders outside of the EEA

 

What spreads can I expect with IronFX?

Aside from the Fixed Zero account, spreads at IronFX start at 0.7 pips for the major currency pairs while the average is 1.2 pips. Of course, spreads do widen during periods of volatility and low trading volume.

 

Does IronFX charge commission?

No, the broker does not appear to charge commissions

 

Is IronFX regulated?

Yes. IronFX is regulated by the Cypress Securities and Exchange Commission (CySEC) and ASIC

 

Is IronFX a recommended forex trading broker for experts and beginners?

Yes. IronFX caters for both beginners and experts.

 

What is the overall rating out of 10 for IronFX?

8/10.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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