Compare ForexMart vs IronFX
What is ForexMart? What is IronFX?
ForexMart is an online forex broker that offers trading services in various instruments, such as forex, CFDs, crypto, and energies. ForexMart is regulated by CySEC and operates under the trade name of Instant Trading EU Ltd.
IronFX is also an online forex broker that offers trading services in various instruments, such as forex, CFDs, crypto, stocks, futures, and options. IronFX is regulated by multiple authorities, such as CySEC, ASIC, FCA, and FSCA. IronFX operates under the trade name of Notesco Limited.
ForexMart vs IronFX Regulation Comparison
Both brokers are authorized by the European Union under MiFID. However, IronFX has more tier-1 licenses than ForexMart, as IronFX is also regulated by ASIC, FCA, and FSCA. Tier-1 licenses are considered highly trusted and indicate a high level of security and transparency for traders. ForexMart has only one tier-2 license from FSCA, while IronFX has no tier-2 licenses.
Tier-2 licenses are considered trusted and indicate a moderate level of security and transparency for traders. Both brokers have one tier-4 license from offshore jurisdictions, which are considered risky and indicate a low level of security and transparency for traders.
ForexMart vs IronFX Trading Assets Comparison
Both brokers offer trading in forex, CFDs, and crypto. However, IronFX has a wider range of trading assets than ForexMart, as IronFX also offers trading in stocks, futures, and options. ForexMart has 70 forex pairs, while IronFX has 83 forex pairs. ForexMart has 2249 tradeable symbols in total, while IronFX has 340 tradeable symbols in total.
ForexMart vs IronFX Trading Fees Comparison
Both brokers charge commissions on some of their account types. ForexMart charges $20 per lot on its Zero Spread account, while IronFX charges $18 per lot on its Zero Fixed Spread account. Both brokers offer variable spreads on their standard accounts, but IronFX also offers fixed spreads on some of its account types.
The average spread for EUR/USD on the standard account is 1.51 pips for ForexMart and 1.2 pips for IronFX. Both brokers offer discounts for active traders or VIP clients.
ForexMart vs IronFX Account Types Comparison
Both brokers offer different account types to suit different trading styles and preferences. ForexMart offers four account types: Classic, Pro, Cent, and Zero Spread. The minimum deposit for all account types is $1, except for the Zero Spread account which requires $200. The maximum leverage for all account types is 1:500.
IronFX offers six account types: Micro, Premium, VIP, Zero Fixed Spread, Absolute Zero STP/ECN, and Absolute Zero Plus STP/ECN. The minimum deposit for the Micro account is $100, while the other account types require higher deposits ranging from $2,500 to $20,000. The maximum leverage for all account types is 1:30.
ForexMart vs IronFX Deposit Options Comparison
Both brokers offer various payment methods for depositing and withdrawing funds from their trading accounts. ForexMart accepts Skrill, Wire transfer, Credit/debit cards, Neteller, UnionPay, FasaPay, Crypto, Crypto Cash, Local bank transfer and Tether (USDT).
IronFX accepts Skrill, Wire transfer, Credit/debit cards, Neteller, UnionPay, Perfect Money, Local bank transfer, FasaPay, Crypto and Ethereum.
ForexMart vs IronFX Trading Platforms Comparison
Both brokers support the MetaTrader 4 (MT4) trading platform, which is one of the most popular and widely used platforms in the forex industry. MT4 offers advanced charting tools, technical indicators, automated trading systems (Expert Advisors), and customizable features.
However, IronFX also supports the MetaTrader 5 (MT5) trading platform, which is an upgraded version of MT4 that offers more instruments, more order types, more indicators, more timeframes, and more analytical tools.
ForexMart vs IronFX Analytical Tools Comparison
Both brokers provide some analytical tools to help traders with their market analysis and trading decisions. ForexMart offers an economic calendar that shows important events and news that may affect the market movements.
ForexMart also offers some technical analysis tools such as Fibonacci calculator and pivot point calculator. IronFX offers an economic calendar as well as a market news section that provides daily updates on the market trends and events. IronFX also offers some technical analysis tools such as trading signals and market insights.
ForexMart vs IronFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a very important decision that depends on your personal preferences, trading style and goals. There is no definitive answer as to which forex broker is better, as different brokers may have different advantages and disadvantages for different traders. However, here are some general suggestions on how to choose between ForexMart and IronFX.
- First of all, you should consider the regulation and security of the brokers. Regulation is a key factor that indicates how trustworthy and reliable a broker is. It also protects your rights and interests as a trader in case of any disputes or issues. Security is also important, as you want to ensure that your funds and data are safe and secure with the broker. Based on the comparison, IronFX has more tier-1 licenses than ForexMart, which means that IronFX is more regulated and secure than ForexMart. IronFX also has a higher trust score on some online review sites, such as [Forex Peace Army] and [Trustpilot]. Therefore, if regulation and security are your top priorities, you may prefer IronFX over ForexMart.
- Secondly, you should consider the trading assets and fees of the brokers. Trading assets are the instruments that you can trade with the broker, such as forex, CFDs, crypto, etc. Trading fees are the costs that you have to pay to the broker for using their services, such as spreads, commissions, swaps, etc. Based on the comparison, IronFX has a wider range of trading assets than ForexMart, which means that IronFX offers more trading opportunities and diversification than ForexMart. However, ForexMart has lower trading fees than IronFX, which means that ForexMart offers more cost-effective trading than IronFX. Therefore, if trading assets and fees are your main concerns, you may have to weigh the pros and cons of each broker and decide which one suits your budget and strategy better.
- Thirdly, you should consider the account types and payment methods of the brokers. Account types are the options that you can choose from when opening a trading account with the broker, such as standard, zero spread, ECN, etc. Payment methods are the ways that you can deposit and withdraw funds from your trading account, such as credit cards, e-wallets, bank transfers, etc. Based on the comparison, both brokers offer different account types to suit different trading styles and preferences. However, ForexMart has lower minimum deposit requirements than IronFX for most of its account types, which means that ForexMart is more accessible and affordable than IronFX for beginners or small traders. On the other hand, IronFX has more payment methods than ForexMart, which means that IronFX is more convenient and flexible than ForexMart for funding your account or withdrawing your profits. Therefore, if account types and payment methods are your key factors, you may have to compare the features and benefits of each account type and payment method and choose the one that meets your needs and expectations better.
- Lastly, you should consider the trading platforms and analytical tools of the brokers. Trading platforms are the software or applications that you use to access the market and execute your trades with the broker, such as MT4 or MT5. Analytical tools are the resources or services that the broker provides to help you with your market analysis and trading decisions, such as economic calendar, market news, trading signals, etc. Based on the comparison, both brokers support MT4 as their main trading platform. However, IronFX also supports MT5 as an alternative option for traders who want to use more advanced features and functions than MT4. Moreover, IronFX has more analytical tools than ForexMart, which means that IronFX offers more support and guidance than ForexMart for traders who want to improve their trading skills and performance. Therefore, if trading platforms and analytical tools are your essential criteria, you may favor IronFX over ForexMart.
