Written by ForexBrokers.com
In this head to head comparison of FXCM vs IronFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, is a seasoned player in the online brokerage industry and is publicly traded, enhancing its transparency. It boasts a high Trust Score of 95 out of 99 from ForexBrokers.com, classifying it as a highly trusted broker. This reputation is underpinned by its possession of 4 Tier-1 licenses and 2 Tier-2 licenses, which are indicative of stringent regulatory compliance. Although it is not a bank, its standing in the industry remains solid, providing users with confidence in its services.
Founded in 2010, IronFX also emerges as a competitive online broker, though it is not publicly traded, which may limit its transparency to some investors. With a Trust Score of 83, it falls into the 'trusted' category according to ForexBrokers.com. IronFX holds 3 Tier-1 licenses, solidifying its credibility, but lacks Tier-2 licenses. Like FXCM, IronFX is not a bank, but its regulatory adherence through Tier-1 licensing provides a level of assurance to its clients.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing FXCM and IronFX in terms of commissions and fees, traders will find notable differences in pricing structures and spread averages. FXCM's forex trading pricing is slightly above the industry average, with its standard account spreads on the EUR/USD averaging 0.78 pips for services in the EU, U.K., and Australia in May 2024. However, in St. Vincent and the Grenadines, this spread increases to 1.38 pips, exceeding the industry norm. On commission-based accounts, the average spread drops to 0.28 pips excluding commission costs, but effective spreads can reach 0.74 pips after taking into account commission fees analogous to 0.50 pips per round-turn trade. FXCM also incentivizes high-volume traders through an Active Trader Rebate Program, offering rebates of $5 to $25 per million traded, depending on activity tier and jurisdiction.
In contrast, IronFX shows some limitations in pricing competitiveness, with its typical standard variable spread account listing a spread of 1.8 pips, surpassing average industry levels. Furthermore, IronFX’s zero fixed-spread account, which initially begins at no spread, involves a $18 per lot commission with overnight spreads widening to 3 pips. While IronFX offers a platform with potential for improvements in pricing, its current structures may not be favorable for cost-sensitive traders seeking lower spread expenses.
Evaluations from ForexBrokers.com rate both FXCM and IronFX with 4 out of 5 stars for their commissions and fees. Despite similar star ratings, FXCM holds a superior position, ranking 25th out of 63 brokers, while IronFX trails at 46th place in the Commissions and Fees category. Thus, FXCM appears to provide more attractive options for active traders, especially those eligible for volume-based discounts, though both brokers share common ground in overall fee satisfaction.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $50 |
| Average Spread EUR/USD - Standard | 0.78 | 1.2 |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and IronFX both provide opportunities for trading in forex as either CFDs or spot contracts. FXCM stands out with a broader selection of 440 tradeable symbols, compared to IronFX's 340. While both brokers offer the ability to trade cryptocurrency derivatives, neither supports the trading of actual cryptocurrencies or exchange-traded securities on U.S. or international exchanges. Additionally, each platform supports copy trading, adding a layer of versatility for users interested in mimicking the trades of experienced investors.
However, when it comes to forex pairs, IronFX offers a more extensive selection with 83 available pairs, surpassing FXCM's offering of 46 pairs. Despite these differences in offerings, both brokers share an identical rating of 3.5 stars for their range of investments. According to ForexBrokers.com, FXCM ranks slightly higher than IronFX at 47th place out of 63 brokers, while IronFX is ranked 51st. This comparison highlights that both FXCM and IronFX have their distinct strengths, catering to diverse trading preferences within similar confines.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 340 |
| Forex Pairs (Total) | 46 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing FXCM and IronFX, both brokers offer simulated trading options with free virtual demo accounts, allowing customers to test strategies without financial risk. FXCM edges ahead with a proprietary trading platform developed in-house, whereas IronFX relies on third-party platforms like MetaTrader 4. Both brokers provide Windows-based desktop download platforms and web-based systems, catering to various trader preferences. They also support copy trading, though FXCM additionally offers ZuluTrade while IronFX does not. Despite both lacking DupliTrade and MetaTrader 5, FXCM stands out with 13 fields available for watch lists compared to IronFX's 7. FXCM's offering of trading directly from stock charts is a feature also mirrored by IronFX.
FXCM and IronFX cater differently to technical traders; FXCM offers 10 drawing tools for charting, while IronFX provides 15. These distinctions are reflected in their ratings: FXCM earns a 5-star rating for its trading platforms and tools from ForexBrokers.com, significantly outranking IronFX's 3.5 stars. Across 63 brokers, FXCM proudly holds the #6 spot, while IronFX trails at #61, highlighting FXCM's superior standing in this category. With these insights, those prioritizing a robust suite of trading platforms and technical tools should lean towards FXCM for a feature-rich experience.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and IronFX, you'll find that both platforms offer apps for iPhone and Android users. They also provide essential features such as stock and forex price alerts along with the ability to draw trendlines on charts. FXCM stands out by offering watchlist symbol syncing between mobile and online accounts, a feature not available with IronFX. This means that any changes you make on one platform automatically update on the other. Additionally, FXCM offers 59 technical studies for charting, significantly more than the 30 provided by IronFX.
Both apps allow users to view multiple time frames and create watchlists with real-time quotes. Moreover, drawings on charts are auto-saved by both platforms. However, when it comes to user satisfaction, FXCM holds a higher rating of 4.5 stars, compared to IronFX's 3.5 stars. According to ForexBrokers.com, FXCM ranks as the 16th best mobile trading app out of 63 brokers, whereas IronFX lags behind at 62nd place. These ratings and rankings suggest that FXCM provides a more streamlined and satisfactory user experience for mobile traders.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both FXCM and IronFX provide traders with daily market commentary and access to forex news from well-regarded sources such as Bloomberg, Reuters, and Dow Jones, ensuring you stay informed with the latest market developments. Additionally, both brokers furnish their clients with tools from Trading Central, like Technical Analytics, for enhanced technical and fundamental analysis. While the two brokers do not offer resources from Autochartist, FXCM stands out by offering a sentiment-based trading tool that displays the ratio of long or short positions across different currency pairs, giving its users a sentimental edge that IronFX lacks.
In terms of additional market intelligence, FXCM partners with TipRanks to furnish its users with valuable insights, while neither broker currently offers research tools from Acuity Trading. Both FXCM and IronFX feature an economic calendar keeping traders abreast of significant global economic events. FXCM has a slight advantage with a research rating of 4.5 stars, compared to IronFX's 4 stars, and is ranked #11 for research among 63 brokers by ForexBrokers.com, while IronFX holds the #28 spot. This makes FXCM a slightly stronger choice for traders prioritizing comprehensive market research tools.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When evaluating the educational resources for beginners offered by FXCM and IronFX, both provide a good start with a variety of materials like articles, videos, and archived webinars focusing on forex and CFDs. However, FXCM stands out by offering live educational webinars monthly, a feature absent from IronFX. Both platforms provide a searchable archive of recorded webinars and at least ten beginner videos on trading topics. This can greatly assist new traders looking for a foundational understanding of forex trading from a structured program.
FXCM further distinguishes itself by offering advanced educational videos, catering to those seeking to deepen their trading expertise, while IronFX lacks this feature. Additionally, both brokers equip learners with an investor dictionary. In terms of education ratings and rankings, FXCM scores 4.5 stars compared to IronFX's 4 stars and is ranked 14th by ForexBrokers.com, far ahead of IronFX, which is ranked 44th. Overall, FXCM presents a more comprehensive educational offering for beginners and those wishing to advance their skills.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than IronFX. FXCM finished with an overall rank of #15, while IronFX finished with an overall rank of #48.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 83 |
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Both FXCM and IronFX do not provide the option to buy actual delivered cryptocurrency, but they do offer the ability to invest in cryptocurrency derivatives.
FXCM distinguishes itself from IronFX by offering a wider variety of deposit and withdrawal methods, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while IronFX supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | IronFX | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | IronFX | |
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| Regulation | FXCM | IronFX | |
|---|---|---|---|
| Trust Score | 95 | 83 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 340 | |
| Forex Pairs (Total) | 46 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | IronFX | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | IronFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review |
| Overall | FXCM | IronFX | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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