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 it comes to commissions and fees, FXCM and IronFX both have strengths and drawbacks. FXCM’s forex trading pricing is slightly above the industry average, with standard account spreads on the EUR/USD averaging 0.78 pips for their EU, U.K., and Australia offerings, compared to 1.38 pips for their St. Vincent and the Grenadines entity. This is somewhat offset by active trader discounts, which significantly reduce spreads based on traded volume. However, their commission-based accounts show a more competitive average spread of 0.28 pips (excluding commissions), resulting in an effective spread of about 0.74 pips when accounting for commission equivalents.
IronFX, by contrast, has room for improvement in this area, with typical spreads for their Standard variable spread account reported at 1.8 pips. Their zero fixed-spread account starts at zero but comes with an $18 per lot commission, with spreads widening to 3 pips overnight. This positioning results in higher overall costs compared to some competitors.
FXCM earns a four-star rating for commissions and fees, ranking 24th out of 63 brokers according to ForexBrokers.com. IronFX also receives a four-star rating; however, it ranks much lower at 46th in the same category. This indicates that while both have similar quality ratings, FXCM is considered more favorable within the broader broker landscape.
| 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.
When comparing the range of investments offered by FXCM and IronFX, both platforms provide forex trading as either a CFD or spot contract, showing a commitment to forex enthusiasts. FXCM offers a broader selection with 440 tradeable symbols, compared to IronFX's 340. However, IronFX takes the lead in tradeable forex pairs, providing access to 83 pairs over FXCM's 43. Despite these differences, neither broker offers the option to purchase exchange-traded securities on U.S. or international exchanges, such as purchasing shares in companies like Apple or Vodafone.
Both FXCM and IronFX support copy trading, a feature that appeals to traders looking to follow and replicate strategies from experienced investors. Additionally, neither platform offers the ability to buy actual cryptocurrencies, though they do provide crypto derivatives for those interested in this market. Both brokers earn a 3.5-star rating for their range of investments, with FXCM ranked slightly higher at #47 compared to IronFX's #51 out of 63 brokers by ForexBrokers.com. This rating reflects their competitive, yet niche-focused, investment offerings.
| Feature |
FXCM
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 340 |
| Forex Pairs (Total) | 43 | 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.
When comparing the market research offerings of FXCM and IronFX, it's clear both brokers strive to provide comprehensive resources for their clients. Each broker offers daily market commentary, and both supply forex news from reputable sources like Bloomberg and Reuters. Additionally, FXCM and IronFX provide tools from Trading Central, supporting traders with technical analytics. Furthermore, both offer economic calendars that track global news events impacting financial markets.
However, FXCM sets itself apart with a sentiment-based trading tool, providing insights into long and short positions across currency pairs, which is absent in IronFX's offerings. FXCM also partners with TipRanks for additional market research, a feature not present in IronFX. These distinctions contribute to FXCM's higher research rating of 4.5 stars, while IronFX holds a 4-star rating. On ForexBrokers.com, FXCM is ranked #11 out of 63 brokers for research, whereas IronFX is ranked at #28, highlighting FXCM's superior research capabilities.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| Investments | FXCM | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 340 | |
| Forex Pairs (Total) | 43 | 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 | No | |
| 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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