The foreign exchange market, otherwise known as the forex market, is a vast global marketplace in which many forex brokerages, or brokers, operate in a competitive environment. The main aim of a forex broker is to attract clients by encouraging them to open a live online trading account with their company. This can be achieved in a variety of ways, from offering certain welcome bonuses and promotions, to the strength of the products and the overall services on offer. However, one of the most important ways a broker can attract new clients is through its standing within the industry, in other words, its reputation. The extent to which a broker is viewed as a reliable and trustworthy company to trade with is crucial, with regards to its potential success. A key contributing factor in solidifying a broker’s good reputation is whether or not the company is licensed. In this IronFX review, this specific point will be focused on and analysed in more detail, but it is true that IronFX is a fully licensed, reputable broker.
IronFX is one of the most established online forex brokers currently in operation, having recently celebrated a decade as a leading broker within the industry. The company’s mission is to deliver an exceptional service to both its retail and institutional clients. In terms of an IronFX review, the broker has been the recipient of more than 40 prestigious international investing awards, and provides services to more than 1.2 million clients across 180 countries worldwide. Further to this, the company offers 300+ tradable instruments across six different asset classes, including forex, metals, indices, commodities, futures, and shares. On the topic of licensing, IronFX is fully authorised and regulated with several of the world’s leading regulatory bodies. Within Europe, the broker is registered to the Cyprus Securities and Exchange Commission (CySEC), while in the United Kingdom it is regulated by the Financial Conduct Authority (FCA). Meanwhile, IronFX is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa, and by the Australian Securities and Investments Commission (ASIC) in Australia. Due to its status as a licensed investment firm, IronFX is considered to be a dependable and reliable choice for traders of all experience types.
In this part of the IronFX review, the extent to which the broker can be considered reliable will be analysed. In relation to clients’ funds, deposits into a live trading account within the IronFX client portal can take up to 24 hours to be fully processed, although the exact time will largely depend on the payment method chosen. Moreover, bank wire transfers can take up to a maximum of three working days, with the specific processing time varying between the different payment options. Account funding is a very simple process with IronFX, thanks in part to the state-of-the-art payment portals, while the broker supports some of the world’s largest and well-regarded payment providers. These include Skrill, Neteller, China Union pay, FasaPay, Bitwallet, WebMoney, Perfect Money, and Trustly, among others. There is also the option for IronFX clients to deposit funds via more traditional methods, including bank transfers and credit and debit card methods. As for the main currencies a trader can deposit into their account. These include the USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF. Deposits in currencies other than those listed can still be used, as they will be converted into the base currency used for that trading account.
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