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 |
IronFX offers its clients a mixed experience when it comes to commissions and fees. The broker provides various account types, with the spread in its Standard variable spread account being typically 1.8 pips, although this spread can differ based on the account type. A key highlight is their zero fixed-spread account, which has a starting spread of zero but includes a $18 per lot commission and an overnight spread widening to 3 pips. Despite these offerings, IronFX's spreads are generally above the industry average, earning them a 4-star rating for commissions and fees. In the Commissions and Fees category, IronFX holds the 47th position out of 62 brokers, according to ForexBrokers.com.
In contrast, Xtrade lacks detailed information on average spreads, making it challenging to assess its competitive position. This limitation impacts its appeal to potential customers who prioritize transparency in commission structures. As a result, Xtrade has a lower rating of 2.5 stars for commissions and fees. Its ranking is at the bottom of the list, positioned at 62nd out of 62 brokers in the Commissions and Fees category on ForexBrokers.com.
Both IronFX and Xtrade have room for improvement in their pricing transparency and competitiveness. While IronFX provides more detailed spread information, its higher-than-average spreads may deter some traders. Xtrade, meanwhile, suffers from a lack of available spread data, which could affect its reliability in the eyes of potential users. Considering these factors can help traders make more informed decisions when choosing between these two online brokers.
| 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.
IronFX and Xtrade both offer a broad selection of investment options, appealing to traders with diverse interests. Both brokers provide the opportunity to engage in forex trading via CFDs or spot contracts, making them suitable choices for currency traders. IronFX boasts a total of 340 tradeable symbols and 83 forex pairs, which may attract those with a keen focus on forex trading. On the other hand, Xtrade offers a wider overall range of tradeable symbols with a total of 482, but with fewer forex pairs at 56, providing a slightly broader reach in terms of trading variety.
IronFX and Xtrade do not offer access to exchange-traded securities directly on U.S. or international exchanges, limiting investment options to CFDs and other related products. However, both platforms do support trading in cryptocurrency derivatives though they do not provide actual cryptocurrency purchases. IronFX stands out by offering copy trading, which allows users to mimic the trading strategies of successful investors—an option not available on Xtrade. Despite these differences, both brokers share a rating of 3.5 stars for their range of investments, with IronFX ranked slightly lower in the category compared to Xtrade.
| 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.
When comparing the trading platforms and tools offered by IronFX and Xtrade, both brokers present their traders with a variety of choices. IronFX provides a Windows-based desktop platform, web-based trading, and the popular MetaTrader 4, but doesn’t have a proprietary platform. On the other hand, Xtrade offers a proprietary web-based platform but lacks a Windows-based desktop option and compatibility with MetaTrader 4. Both brokers offer free virtual demo accounts to help beginners practice trading in a simulated environment.
For traders who enjoy technical analysis, Xtrade seems to have an edge with 100 drawing tools for charting, a significant jump compared to IronFX's 15 drawing tools. However, IronFX supports copy trading, a feature not available with Xtrade. Both platforms allow trading directly from stock charts and provide detailed watch lists, though Xtrade offers a little more flexibility with 9 columns compared to IronFX’s 7. Despite Xtrade ranking slightly higher in industry rankings, both brokers received a 3.5-star rating for their trading platforms and tools, indicating similar levels of satisfaction and areas for improvement.
| 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 brokers offer applications for iPhone and Android devices. IronFX stands out by providing stock or forex price alerts and the ability for technical charting features with 30 technical studies available. Users can draw trendlines and view multiple time frames like daily, weekly, or intraday, with the convenience of auto-saving their drawings. Additionally, IronFX supports creating watchlists with real-time quotes, although it lacks watchlist symbol syncing between the mobile app and the client's online account.
In contrast, Xtrade does not support price alerts, technical studies for charting, or provide features for drawing trendlines and viewing multiple time frames on charts. Moreover, the app does not support syncable watchlists or real-time quote watchlists. Despite these limitations, Xtrade's app holds a slightly better rating of 4 stars compared to IronFX's 3.5 stars for mobile trading apps. Regarding the app rankings by ForexBrokers.com, Xtrade is positioned at #53, whereas IronFX is ranked at #61 out of 62 brokers in the Mobile Trading Apps category.
| 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.
IronFX and Xtrade both provide daily market commentary, keeping traders informed on the latest market trends. For those seeking comprehensive news coverage, both platforms offer insights from respected sources like Bloomberg, Reuters, and Dow Jones. However, when it comes to technical analysis tools, IronFX has a slight edge with access to Trading Central's technical analytics, while Xtrade does not feature this offering. Neither broker provides tools from Autochartist or Acuity Trading, and both lack sentiment-based trading tools and market research from TipRanks.
In addition to their shared economic calendar feature, which helps traders track important global events, IronFX stands out with a 4-star research rating, compared to Xtrade's 3.5 stars. Ranked #28 out of 62 brokers by ForexBrokers.com in the Research category, IronFX clearly outperforms Xtrade, which is ranked at #52. Traders considering these platforms can benefit from the comprehensive market information provided by both, but IronFX appears to offer a slightly more advanced research experience.
| 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, both IronFX and Xtrade offer valuable content on forex and CFDs, providing at least 10 educational pieces each, such as articles and videos. IronFX stands out with a collection of more than 10 beginner-focused educational videos, while Xtrade does not meet this threshold. Furthermore, IronFX provides access to a searchable archive of past webinars, adding another layer of resources that beginners may find helpful, whereas Xtrade does not offer this feature. Both brokers supply an investor dictionary with over 50 investing terms, supporting new traders with essential financial knowledge. However, neither offers regular monthly webinars to actively engage clients in ongoing learning.
In terms of overall educational ratings, IronFX scores slightly higher with a 4-star rating compared to Xtrade's 3.5 stars. According to ForexBrokers.com, IronFX ranks #44 out of 62 brokers in the education category, while Xtrade is close behind at #46. For beginners keen on accessing a wider array of learning tools, IronFX provides a more comprehensive set of resources, particularly for those who value video content and recorded webinars. Meanwhile, Xtrade still offers foundational educational materials, forming a solid base for new traders.
| 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 62 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 #59.
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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