Iron FX is a Cyprus based broker that allows traders access to a variety of markets, allowing a multitude of trading opportunities for their clients. They are heavily regulated in that country, and have a list of various auditing firms that independently review the firm. With the large list of tradable instruments offered, the trader will almost always find a way to participate in the global markets at Iron FX.
Iron FX offers just over 70 currency pairs. 15 trading platforms and leverage up to 1:500. Because of this, we can see that there is almost always going to be a way of taking advantage of currency movements. However, the opportunities don’t stop there either. They also offer futures contracts and spot metals (via the CFD market) that can lead to other trading opportunities, or if the trader prefers – to be used as a barometer for well known correlations between currencies and commodities such as the relationship between gold and the Australian dollar.
Iron FX offers multiple account sizes. The micro account can be opened with as little as $500 USD (or equivalent) and allows the trader access to as many as 170 tradable instruments. This allows the “little guy” to step into a truly global marketplace, and take advantage of the various markets in an affordable way.
Iron FX has variable spreads in the Forex markets, with very tight spreads during typical trading conditions. The broker also offers a 500 to 1 leverage amount, so as a result you get a large amount of leverage in order to take advantage of using small amounts of margin. It should be noted that the CFD market for stocks has a fixed and small spread for traders.
Iron FX uses Metatrader4, one of the most familiar platforms on the planet. This platform has a multitude of indicators, and there are almost limitless ones on the Internet that you can download. Automatic trading is possible, and as a result the MT4 platform is one of the most favored by traders.
Beyond MT4, Iron FX offers a Web Trader platform so the trader can access their account anywhere there is an Internet connection. The broker also offers several different platforms that work on smart phones, iPads, and other mobile devices.
Deposits and withdraws can be done by using PayPal, Bank Wires, Visa, MasterCard, Union Pay, Skrill, and Neteller.
The ability to trade so many markets is without a doubt the biggest advantage to using Iron FX. There are some deposit bonuses at the time of this IronFX review, but it appears that they change from time to time, so you will have to check the webpage first. Also, there is a nice section for research and analysis, so the trader isn’t on his own.
The markets that are available will allow the trader to take advantage of global markets and attitudes. This allows you to take a stand on gold, while looking at the British pound and several major stocks. By doing so, the trader can have a nice balanced portfolio over time.