Written by ForexBrokers.com
In this head to head comparison of IronFX vs Xtrade, 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.
IronFX and Xtrade are two well-known online brokers that offer a variety of trading services. Established in 2010, IronFX holds three top-tier licenses, which places it in the "trusted" category with a ForexBrokers.com Trust Score rating of 83. Despite not being publicly traded or a bank, IronFX has gained a reputation for reliability in the trading world. In comparison, Xtrade, founded in 2003, holds one Tier-1 and one Tier-2 license, resulting in an overall Trust Score of 74, signaling an average risk level.
Both IronFX and Xtrade are privately held companies and not affiliated with any banking institution, which is an important factor for traders to consider when evaluating their options. While IronFX benefits from a higher trust rating due to its multiple high-level licenses, Xtrade, with its longer history, offers a different set of regulatory assurances. Considering these aspects can help investors choose a platform that aligns best with their trading priorities and risk appetite.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees between IronFX and Xtrade, it's clear that IronFX offers more transparency in its fee structure, though improvements could be made in terms of competitiveness. IronFX's Standard variable spread account lists a typical spread of 1.8 pips. However, spreads can vary based on the account type, with the zero fixed-spread account starting at zero but coupled with an $18 per lot commission. Additionally, this account sees spreads increase to 3 pips overnight. IronFX scores 4 out of 5 stars for its commissions and fees, ranking 46th out of 63 brokers according to ForexBrokers.com.
On the other hand, Xtrade does not provide average spread data, leaving potential clients in the dark about typical trading costs. This lack of transparency is reflected in its lower rating of 2.5 stars for commissions and fees. In rankings, Xtrade is positioned at 63rd out of 63 brokers surveyed by ForexBrokers.com, indicating greater room for improvement compared to IronFX.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $50 | $250 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 IronFX and Xtrade for their range of investment options, both platforms allow users to engage in forex trading either as CFDs or spot contracts. However, IronFX offers a notable advantage in the number of forex pairs available, with 83 compared to Xtrade's 56. Despite this, Xtrade slightly outshines IronFX with a broader selection of tradable symbols overall, offering 482 compared to IronFX's 340.
Neither IronFX nor Xtrade provides the option to invest in exchange-traded securities on U.S. or international exchanges directly, meaning clients cannot purchase actual shares such as Apple or Vodafone. While both platforms allow trading in cryptocurrency derivatives, the option to buy actual cryptocurrencies is absent. Additionally, IronFX offers copy trading functionality, which is not available on Xtrade. Both brokers receive a similar rating of 3.5 out of 5 stars for their range of investments, with IronFX ranked at #51 and Xtrade slightly ahead at #49 by ForexBrokers.com.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 482 |
| Forex Pairs (Total) | 83 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
IronFX and Xtrade both accommodate traders with free virtual demo accounts, allowing users to practice their trading skills without financial risk. When it comes to trading platforms, IronFX does not offer a proprietary platform, relying instead on the popular MetaTrader 4, which many traders find familiar and efficient. It also offers a Windows-based desktop platform alongside a web-based browser platform. On the other hand, Xtrade provides its customers with a proprietary web-based platform tailored for its users, yet it excludes a Windows desktop option. Notably, IronFX supports copy trading, a feature absent from Xtrade's offerings.
Chart enthusiasts will find that Xtrade outshines IronFX when it comes to charting tools, with an impressive 100 drawing tools available compared to IronFX's 15. Both brokers provide the ability to trade directly from stock charts, which is a handy feature for traders looking to act swiftly. In terms of watch list customization, Xtrade comes with 9 column fields compared to IronFX’s 7. Despite their respective offerings, both brokers score 3.5 stars for their trading platforms and tools, with IronFX ranking at #61 and Xtrade slightly ahead at #58 out of 63 brokers assessed by ForexBrokers.com.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | N/A |
| Charting - Drawing Tools (Total) | 15 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IronFX and Xtrade, both platforms offer apps compatible with iPhone and Android. However, IronFX provides added features such as stock and forex price alerts, which are notably absent from Xtrade. IronFX also supports an extensive set of 30 technical studies for charting, unlike Xtrade, which doesn't specify its offerings in this category. Users of IronFX's app can draw trendlines on stock or forex charts and access multiple time frames, including daily and weekly views, while Xtrade does not offer these capabilities. Additionally, IronFX ensures chart drawings are auto saved, whereas Xtrade does not have this feature. Both apps fall short when it comes to syncing watchlist symbols with online accounts, but IronFX allows users to create watchlists with real-time quotes—another feature not available with Xtrade.
Despite IronFX's broader feature set for mobile charting and alerts, Xtrade scores higher in user satisfaction, receiving 4 out of 5 stars compared to IronFX's 3.5 stars. According to ForexBrokers.com, Xtrade is ranked at #53 among 63 brokers for their mobile trading apps, while IronFX lags behind at #62. This indicates that while IronFX offers more tools for technical analysis, Xtrade's user experience might be more appealing to some traders. Whether you prioritize extensive charting features or user feedback could guide your choice between these two platforms.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing IronFX and Xtrade, both platforms offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, IronFX stands out by providing access to Trading Central’s technical analytics, which Xtrade does not offer. Both brokers lack tools from Autochartist and Acuity Trading, and neither provides sentiment-based trading tools or market research from TipRanks. Furthermore, each platform supports an economic calendar for tracking global news events.
IronFX has a slight edge in research, receiving a 4-star rating compared to Xtrade's 3.5 stars. In the competitive landscape composed of 63 brokerages, IronFX ranks at number 28 for research in a ForexBrokers.com evaluation, whereas Xtrade sits at number 52. Despite their similarities, these distinctions in research tools and industry rankings might influence your choice between the two platforms.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IronFX and Xtrade both offer a variety of materials to help newcomers understand forex and CFDs trading. IronFX provides a comprehensive selection of at least 10 educational pieces in various formats including articles and videos focusing on forex and CFDs. Additionally, beginners can benefit from over 10 dedicated beginner educational videos. Xtrade also offers a minimum of 10 educational resources focusing on similar subjects, but lacks the beginner-focused video content that IronFX provides.
In terms of accessibility to past learning experiences, IronFX offers a searchable archive of previously recorded webinars, a feature not available with Xtrade. Both platforms provide an investor dictionary with definitions of over 50 essential investing terms, facilitating a better understanding of trading jargon. While neither offers monthly webinars or advanced video content tailored for seasoned traders, IronFX edges out slightly in terms of overall beginner educational offerings, leading to its higher education rating of 4 stars compared to Xtrade's 3.5 stars. On a scale of 63 brokers rated by ForexBrokers.com, IronFX is ranked 44th in the Education category while Xtrade is just behind at 46th, reflecting their respective strengths and areas for growth in educational content delivery.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 IronFX is better than Xtrade. IronFX finished with an overall rank of #48, while Xtrade finished with an overall rank of #60.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 74 |
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Both IronFX and Xtrade do not provide the option to purchase actual delivered cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
Both IronFX and Xtrade do not support ACH or SEPA transfers or PayPal for depositing or withdrawing funds, but they do offer Skrill, Visa, Mastercard, and bank wire options for these transactions.
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 | IronFX | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | Xtrade Review |
| Broker Screenshots | IronFX | Xtrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | IronFX | Xtrade | |
|---|---|---|---|
| Trust Score | 83 | 74 | |
| Year Founded | 2010 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IronFX | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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 | No | |
| 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) | IronFX | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IronFX | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 482 | |
| Forex Pairs (Total) | 83 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | IronFX | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IronFX | Xtrade | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IronFX | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 15 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IronFX | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IronFX | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IronFX | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | IronFX | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | Xtrade Review |
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