Compare IronFX vs EagleFX
What is IronFX? What is EagleFX?
IronFX is a global broker that was established in 2010 and is regulated by CySEC, ASIC, FCA and FSCA. It offers trading on over 200 instruments, including forex, metals, indices, commodities, futures and shares, on the MetaTrader 4 and MetaTrader 5 platforms.
EagleFX is a newer broker that was founded in 2018 and is not regulated by any authority. It offers trading on over 100 instruments, including forex, metals, indices and cryptocurrencies, on the MetaTrader 4 platform only.
IronFX vs EagleFX Regulation Comparison
IronFX has a clear advantage over EagleFX in terms of regulation, as it holds licenses from four reputable regulators that ensure the safety and security of client funds and data. EagleFX, on the other hand, does not have any regulatory oversight and operates from an offshore jurisdiction (Dominica), which poses a higher risk for traders.
IronFX vs EagleFX Trading Assets Comparison
IronFX and EagleFX have a similar range of trading assets, except that IronFX also offers futures and shares, while EagleFX also offers cryptocurrencies. Both brokers provide access to major, minor and exotic currency pairs, as well as metals, indices and commodities. However, IronFX has more variety and depth in its asset selection, as it has over 200 instruments compared to EagleFX’s over 100 instruments.
IronFX vs EagleFX Trading Fees Comparison
IronFX and EagleFX have different fee structures, depending on the account type and the trading platform. IronFX offers fixed or variable spreads, starting from 0 pips on some accounts, but also charges commissions on some accounts, ranging from $6 to $18 per lot round turn. EagleFX offers variable spreads only, starting from 0.1 pips on some pairs, but also charges a flat commission of $6 per lot round turn on all accounts.
Both brokers charge swap fees for holding positions overnight, but EagleFX also offers swap-free accounts for Islamic traders.
IronFX vs EagleFX Account Types Comparison
IronFX has four main account types: Micro, Premium, VIP and Zero Fixed Spread. Each account has different minimum deposit requirements, ranging from $100 to $20,000, and different trading conditions, such as leverage, spreads and commissions. IronFX also offers a demo account for practice trading and a PAMM account for money managers.
EagleFX has only one account type: Standard. This account has a minimum deposit requirement of $10 and offers leverage up to 1:500, variable spreads and commissions. EagleFX also offers a demo account for practice trading.
IronFX vs EagleFX Deposit Options Comparison
IronFX and EagleFX have different deposit and withdrawal options for their clients. IronFX accepts various payment methods, such as credit/debit cards, wire transfer, Skrill, Neteller, UnionPay, Perfect Money, local bank transfer, FasaPay, crypto and Ethereum. EagleFX accepts only credit/debit cards, wire transfer and crypto as payment methods. Both brokers do not charge any fees for deposits or withdrawals, but third-party fees may apply.
IronFX processes withdrawals within the same business day or the next business day if received outside working hours. EagleFX processes withdrawals within 30 minutes or less.
IronFX vs EagleFX Trading Platforms Comparison
IronFX and EagleFX both use the MetaTrader 4 platform as their main trading platform. MetaTrader 4 is a popular and user-friendly platform that supports multiple charting tools, technical indicators and automated trading systems (Expert Advisors).
However, IronFX also offers the MetaTrader 5 platform as an alternative option for traders who want more advanced features and functionalities. MetaTrader 5 is an upgraded version of MetaTrader 4 that supports more instruments, order types and analytical tools.
IronFX vs EagleFX Analytical Tools Comparison
IronFX and EagleFX both provide various analytical tools to help their clients with their trading decisions. These include market news, economic calendar, trading signals, market analysis and educational resources.
However, IronFX has more comprehensive and diverse tools than EagleFX, as it also offers webinars, seminars, videos, ebooks and a personal account manager for some accounts.
IronFX vs EagleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading style and goals. There is no definitive answer to which broker is better, as different brokers may suit different traders better. IronFX has a clear edge over EagleFX in terms of regulation, as it is licensed by four reputable authorities that ensure the safety and security of client funds and data. EagleFX, on the other hand, is not regulated by any authority and operates from an offshore jurisdiction, which poses a higher risk for traders. If you value regulation and trustworthiness, you may prefer IronFX over EagleFX. There are pros and cons for both brokers that you need to weigh carefully before making your final decision. You can also check out some online reviews or visit their official websites to learn more about them or see their full specifications side by side.
