Compare IronFX vs RoboMarkets
What is IronFX? What is RoboMarkets?
IronFX is a global online broker that offers trading in forex, CFDs, stocks, commodities, indices, metals, and cryptocurrencies. IronFX is regulated by several authorities, including the FCA in the UK, ASIC in Australia, and CySEC in Cyprus. IronFX claims to provide competitive spreads, fast execution, and various account types for different trading styles.
RoboMarkets is a European online broker that offers trading in forex, CFDs, stocks, indices, metals, commodities, and cryptocurrencies. RoboMarkets is regulated by CySEC in Cyprus and operates under the MiFID II directive. RoboMarkets claims to provide low spreads, no commission on stocks trading, and multiple trading platforms for different devices.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
IronFX vs RoboMarkets Regulation Comparison
Both IronFX and RoboMarkets are regulated by CySEC in Cyprus and follow the MiFID II rules for providing financial services in the European Union. However, IronFX has more tier-1 licenses than RoboMarkets, as it is also authorized by the FCA in the UK and ASIC in Australia. These regulators are considered to have high standards of supervision and protection for traders. RoboMarkets does not have any tier-1 licenses.
Both brokers also have some tier-4 licenses from less reputable jurisdictions. IronFX has a license from the FSCA in South Africa, while RoboMarkets has licenses from the IFSC in Belize and the SEBI in India. These regulators are considered to have low standards of supervision and protection for traders.
IronFX vs RoboMarkets Trading Assets Comparison
Both IronFX and RoboMarkets offer a wide range of trading assets, including forex, CFDs, stocks, indices, metals, commodities, and cryptocurrencies. However, RoboMarkets has more tradable symbols than IronFX, as it offers access to over 12,000 instruments across six markets, while IronFX offers access to over 340 instruments across four markets.
In terms of forex pairs, IronFX has more options than RoboMarkets, as it offers 83 currency pairs compared to 36 pairs offered by RoboMarkets. However, in terms of stocks trading, RoboMarkets has more options than IronFX, as it offers over 3,000 US stocks and over 9,000 global stocks compared to only 34 US stocks and 182 global stocks offered by IronFX.
IronFX vs RoboMarkets Trading Fees Comparison
Both IronFX and RoboMarkets charge variable spreads on their trading accounts, which depend on the market conditions and the account type. However, RoboMarkets generally has lower spreads than IronFX on most instruments. For example, the average spread on EUR/USD is 1.4 pips on RoboMarkets’ Pro account and 1.2 pips on IronFX’s Standard account. However, on RoboMarkets’ Prime account, which requires a higher minimum deposit of $5,000 USD/EUR/GBP, the average spread on EUR/USD is as low as 0 pips.
Both brokers also charge commissions on some of their accounts. For example, IronFX charges a commission of $18 USD per lot round turn on its Zero Fixed Spread account, while RoboMarkets charges a commission of $20 USD per lot round turn on its ECN account. However, RoboMarkets does not charge any commission on its R StocksTrader platform for US stocks trading, while IronFX charges a commission of 0.10% per trade for US stocks trading.
IronFX vs RoboMarkets Account Types Comparison
Both IronFX and RoboMarkets offer various account types for different trading styles and preferences. However, IronFX has more account types than RoboMarkets, as it offers seven account types compared to five account types offered by RoboMarkets.
The main differences between the account types are the minimum deposit requirement, the spread level, the commission structure, the leverage ratio, and the available instruments. For example, the minimum deposit requirement ranges from $50 USD to $20,000 USD on IronFX’s accounts, while it ranges from $100 USD/EUR/GBP to $5,000 USD/EUR/GBP on RoboMarkets’ accounts. The spread level ranges from 0 pips to 1.7 pips on IronFX’s accounts, while it ranges from 0 pips to 1.3 pips on RoboMarkets’ accounts. The commission structure varies depending on the account type and the instrument traded on both brokers’ accounts. The leverage ratio ranges from 1:30 to 1:1000 on IronFX’s accounts, while it ranges from 1:30 to 1:2000 on RoboMarkets’ accounts. The available instruments vary depending on the account type and the platform used on both brokers’ accounts.
IronFX vs RoboMarkets Deposit Options Comparison
Both IronFX and RoboMarkets offer a variety of deposit and withdrawal options for their clients, including bank wire, credit/debit cards, e-wallets, and cryptocurrencies. However, RoboMarkets has more options than IronFX, as it supports over 20 payment methods compared to over 10 payment methods supported by IronFX.
Both brokers also offer free withdrawal of funds twice a month for their clients. However, RoboMarkets compensates all the expenses for depositing funds using any payment system, while IronFX does not offer such compensation.
IronFX vs RoboMarkets Trading Platforms Comparison
Both IronFX and RoboMarkets offer multiple trading platforms for different devices, including MetaTrader 4, MetaTrader 5, WebTrader, and mobile apps. However, RoboMarkets has more platforms than IronFX, as it also offers R Trader, R StocksTrader, cTrader, and Umstel.
The main differences between the platforms are the user interface, the charting tools, the order types, the indicators, the trading robots, and the available instruments. For example, MetaTrader 4 and MetaTrader 5 are the most popular and widely used platforms in the industry, offering advanced charting tools, multiple order types, over 50 indicators, and support for automated trading with Expert Advisors (EAs). WebTrader is a web-based platform that does not require any installation or download, offering a user-friendly interface, basic charting tools, four order types, and over 30 indicators. R Trader is a web-based platform that offers access to over 12,000 instruments across six markets, offering a modern interface, advanced charting tools, eight order types, over 100 indicators, and support for automated trading with TradingView scripts. R StocksTrader is a web-based platform that offers access to over 3,000 US stocks without commission, offering a simple interface, basic charting tools, four order types, and no indicators or trading robots. cTrader is a web-based platform that offers access to forex and CFDs trading with ECN execution, offering a sleek interface, advanced charting tools, six order types, over 50 indicators, and support for automated trading with cBots. Umstel is a web-based platform that offers access to global stocks trading with DMA execution, offering a minimalist interface, basic charting tools, four order types, and no indicators or trading robots.
IronFX vs RoboMarkets Analytical Tools Comparison
Both IronFX and RoboMarkets offer various analytical tools for their clients to enhance their trading performance and experience. However, RoboMarkets has more tools than IronFX, as it offers more features and services for different trading needs.
Some of the analytical tools offered by both brokers are economic calendar, market news, market analysis, trading signals, trading calculators, and educational materials. However, some of the additional tools offered by RoboMarkets are copy trading service (CopyFX), investment service (RAMM), stock screener (R Trader), strategy builder (R Trader), stock charts (TradingView), VPS service (RoboVPS), cashback service (Rebates), loyalty program (Profit Share), and premium analytics (Claws & Horns).
IronFX vs RoboMarkets. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading performance and experience. There are many factors to consider when comparing forex brokers, such as regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, and analytical tools.
Here are some additional points that you may want to consider:
- IronFX has more tier-1 licenses than RoboMarkets, which means it is regulated by more reputable authorities and offers more protection for traders. However, RoboMarkets has more payment methods than IronFX, which means it offers more convenience and flexibility for depositing and withdrawing funds.
- IronFX has more forex pairs than RoboMarkets, which means it offers more opportunities and diversity for forex trading. However, RoboMarkets has more stocks than IronFX, which means it offers more access and variety for stocks trading.
- IronFX has higher spreads than RoboMarkets on most instruments, which means it charges more for opening and closing trades. However, RoboMarkets has higher commissions than IronFX on some accounts, which means it charges more for executing trades.
- IronFX has more account types than RoboMarkets, which means it offers more options and customization for different trading styles and preferences. However, RoboMarkets has lower minimum deposit requirements than IronFX on most accounts, which means it offers more affordability and accessibility for different trading budgets.
- IronFX has fewer trading platforms than RoboMarkets, which means it offers less choice and functionality for different devices and needs. However, RoboMarkets has more analytical tools than IronFX, which means it offers more features and services for enhancing trading performance and experience.
Ultimately, the best forex broker for you depends on your personal goals, preferences, and expectations. You may want to try out the demo accounts of both brokers to test their platforms and conditions before making a final decision. You may also want to read some reviews from other traders who have used these brokers to get their feedbacks and insights.
