Choosing which broker to open an account with is one of the most difficult initial steps in the world of forex trading. Going for a reliable and capable broker is crucial for your success in online trading. IronFX is one of these brokers although there are online IronFX complaints regarding clients’ capital being at risk. IronFX is trusted by more than 1,200,000 clients across 180 countries around the globe. Founded in 2010, IronFX has grown to offering retail investors Forex trading, CFDs trading, and Social trading.
IronFX is a regulated and supervised forex broker by reputable organisations. These regulatory authorities protect the traders from things like fraud or malicious behaviour. Brokerage firms have to comply with a variety of rules and criteria for license approval, as determined by the recognised international authority aiming at providing secure trading. The whole idea of regulation is to protect IronFX traders and their funds and provide a safe trading environment. Having financial regulation and license approval is vital before choosing a broker. IronFX is regulated by the below authorities:
Financial Conduct Authority (FCA)
Cyprus Securities and Exchange Commission (CySEC)
Australian Securities and Investments Commission (ASIC)
Financial Sector Conduct Authority (FSCA)
These regulatory bodies monitor the behaviour of the broker and if things go in an unpleasant way, they will take appropriate action. Despite IronFX complaints, claiming that the broker is not regulated, clients can be assured that IronFX is a legitimate online company.
Clients need to be aware that the different entities under IronFX offer different trading instruments due to regulatory restrictions. The trading products offered may differ based on clients’ country of residence. IronFX gives clients the opportunity to trade on over 300 financial instruments across six asset classes. As far as trading platforms are concerned, IronFX offers the industry standard MT4 trading platform, which safeguards the personal data of its clients through SSL encryption in its PC and mobile platforms. IronFX advises clients through its web platform to always look for the SSL security sign, which is the lock sign on the browser, while operating with IronFX.
IronFX allows execution of trade of 0.01 Lot. This may vary depending on the trading account clients choose to open. IronFX offers both live/live fixed and ECN/STP accounts. As a result, there are tight spreads which are more transparent compared to the price you are actually paying to execute your trades. It is worth mentioning that IronFX has no requotes, so clients do not need to worry about slippage.
Opening an account with IronFX is very easy. In fact, it takes only a minute. The broker also offers a number of useful risk management features, including stop losses, limit orders, negative balance protection, price alerts, and other useful features found on their website. Of course, trading financial instruments like cryptos and foreign currencies, which include leverage and margin-based trading, comes with a high level of risk. This is always stated in the broker’s terms and conditions and is something clients need to agree with. Regardless of IronFX complaints, IronFX is a regulated broker, as already mentioned, so regulated brokers will not manipulate market prices. Withdrawal requests sent in to IronFX will be handled with diligence. If they violate any regulatory rules their status can be questioned. Following 11 years of operation within the forex industry, IronFX is a well-established and trustworthy forex broker.