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, FXCM tends to have slightly higher costs than the industry standard for forex trading. In May 2024, FXCM’s standard account spreads for the EUR/USD pair averaged 0.78 pips in the EU, U.K., and Australia, while the St. Vincent and the Grenadines entity averaged 1.38 pips. For commission-based accounts, the average spread was a tighter 0.28 pips, excluding commissions. However, FXCM offers an Active Trader Rebate Program (not available in the U.K. or EU) where traders can receive rebates based on the volume traded, potentially lowering effective spreads to as low as 0.74 pips. FXCM holds a four-star rating for commissions and fees and is ranked 24th out of 62 brokers on ForexBrokers.com.
On the other hand, IronFX shows room for improvement in its pricing structure, often presenting higher-than-average industry spreads. Its Standard variable spread account typically shows a spread of 1.8 pips, though exact figures and their timeframes are less transparently disclosed. For their zero fixed-spread accounts, initial spreads begin at zero but involve a significant $18 per lot commission, with spreads widening to 3 pips overnight. IronFX shares the same four-star rating for commissions and fees as FXCM but ranks 47th out of 62 brokers on ForexBrokers.com.
| 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.
Both FXCM and IronFX provide forex trading options available as CFDs or spot contracts, making them viable options for forex traders. However, when it comes to the number of tradeable symbols, FXCM takes the lead with 440 symbols compared to IronFX's 340. On the other hand, IronFX provides a wider variety of tradeable forex pairs with 83 options versus FXCM's 43 pairs. Neither broker offers exchange-traded securities on U.S. or international exchanges, limiting their offering to other asset types like CFDs.
Both brokers support copy trading as well as trading cryptocurrency derivatives, though they do not offer the purchase of actual cryptocurrencies. In terms of the range of investments offered, both FXCM and IronFX are rated equally at 3.5 stars. According to ForexBrokers.com, FXCM is ranked slightly higher at #47, while IronFX comes in at #51 out of 62 brokers, indicating a marginally broader investment range with FXCM.
| 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 the trading platforms and tools offered by FXCM and IronFX, both brokers provide a strong foundation with simulated trading through free virtual demo accounts. FXCM sets itself apart with its proprietary platform, offering traders a unique in-house developed experience, while IronFX does not have a proprietary platform. Both brokers support Windows-based desktop and web-based trading platforms, and offer the well-known MetaTrader 4 (MT4). However, neither broker currently supports MetaTrader 5 (MT5) or DupliTrade. For traders interested in copy trading, both platforms accommodate this style, but FXCM also supports ZuluTrade, providing an additional social trading opportunity not available through IronFX.
In the realm of analytical tools, FXCM offers ten drawing tools and enables trading directly from stock charts, with notable flexibility by providing thirteen fields for watch lists. IronFX, on the other hand, features fifteen drawing tools but has fewer watch list columns available, capping at seven. When it comes to overall ratings for trading platforms and tools, FXCM stands out with a stellar five-star rating, while IronFX has a modest 3.5-star rating. Further reflecting this difference, FXCM holds an impressive ranking of 6 out of 62 brokers according to ForexBrokers.com, while IronFX is ranked at 60. This comparison highlights FXCM's advanced capabilities in trading platforms and tools, giving traders a richer, more customizable 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.
Both FXCM and IronFX provide comprehensive mobile trading apps available for iPhone and Android users. These apps allow traders to set price alerts and create watchlists with real-time quotes, ensuring they stay updated with market movements on the go. However, FXCM offers a more seamless experience with watchlist symbol syncing, allowing watchlists to be synchronized between the mobile app and the online account. This feature is absent in IronFX's offering, which might be a drawback for users who frequently switch between devices.
When it comes to analytical tools, FXCM's mobile app is more advanced, boasting 59 technical studies for chart analysis compared to IronFX's 30. Both apps support drawing trendlines and viewing multiple time frames, with auto-saving options for chart drawings, enhancing their utility for technical analysis. In terms of user ratings, FXCM edges ahead with 4.5 stars compared to IronFX's 3.5 stars, reflecting a more favorable user experience. According to ForexBrokers.com, FXCM is ranked 16th out of 62 brokers for mobile trading apps, while IronFX lags behind at 61st place. This significant difference highlights FXCM's more competitive offering in the mobile trading space.
| 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 it comes to market research, both FXCM and IronFX provide a suite of resources to keep traders informed. They offer daily market commentary and deliver forex news from premier sources like Bloomberg and Reuters. Both brokers integrate Trading Central’s technical analysis tools but do not feature Autochartist's offerings. For those following global economic events, both platforms provide a comprehensive economic calendar. While IronFX lacks a sentiment-based trading tool, FXCM stands out by providing one and also offers insight from TipRanks, adding depth to its research capabilities.
FXCM enjoys a higher research rating with 4.5 stars compared to IronFX's 4 stars. In the ForexBrokers.com rankings, FXCM is positioned in the 11th spot, highlighting its strong reputation among 62 brokers, whereas IronFX ranks 28th. This difference underscores FXCM's edge in offering more innovative tools for market analysis, making it a preferred choice for traders seeking thorough market insights and advanced research options.
| 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.
FXCM and IronFX both provide resources to help beginners learn about forex and CFDs. Each broker offers at least 10 articles, videos, or webinars focused on these topics. However, FXCM has the edge over IronFX with its commitment to hosting monthly webinars for clients, which IronFX does not offer. Both platforms have archives of past webinars that users can search through, ensuring access to a wealth of information at any time. FXCM further supports novice traders with over 10 videos dedicated to beginner trading concepts, a feature that IronFX matches, offering comprehensive educational support to start your trading journey.
For those advancing in skill, FXCM offers more extensive educational content with over 10 advanced trading videos, while IronFX falls short in this area. Both brokers host an investor dictionary containing more than 50 trading terms, helping users understand trading jargon. FXCM is rated 4.5 stars for its educational offerings, while IronFX holds a 4-star rating. Reflecting these differences, ForexBrokers.com ranks FXCM 14th out of 62 brokers for education, whereas IronFX is ranked 44th. These ratings suggest that while both offer valuable educational tools, FXCM provides a more comprehensive learning experience than IronFX.
| 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 62 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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