Compare SimpleFX vs IronFX
What is SimpleFX? What is IronFX?
SimpleFX is a free trading and investing app that allows users to trade and stake with no fees and no minimum deposits. It offers over 200 instruments, including forex, stocks, indices, commodities, metals, and cryptocurrencies. It also supports copy trading and social trading features.
IronFX is a multi-regulated broker that offers CFD trading on forex, stocks, indices, and commodities through the MetaTrader 4 platform. It provides various account types with competitive pricing, including spreads from zero on STP/ECN accounts. It also offers a choice of welcome bonuses and a TradeCopier platform for copy trading.
SimpleFX vs IronFX Regulation Comparison
SimpleFX is registered in St. Vincent and the Grenadines under the company name SimpleFX Ltd. It does not hold any licenses from major regulators such as the FCA, CySEC, ASIC, or NFA. Therefore, it may not be suitable for traders who seek a high level of protection and security for their funds.
IronFX holds licenses from several top-tier regulators, including the FCA in the UK, CySEC in Cyprus, ASIC in Australia, and FSCA in South Africa. It also complies with the MiFID II regulatory framework in Europe. Therefore, it offers a higher level of trustworthiness and credibility for traders who value regulation and safety.
SimpleFX vs IronFX Trading Assets Comparison
SimpleFX offers a wider range of trading assets than IronFX, especially in terms of cryptocurrencies. SimpleFX has over 200 instruments, including 80 forex pairs, 150 stocks, 15 indices, 10 commodities, 10 metals, and 20 cryptocurrencies. IronFX has over 300 instruments, but only 80 forex pairs, 150 stocks, 40 indices, 17 commodities, and 5 metals. IronFX does not offer any cryptocurrency CFDs.
Both brokers offer leverage up to 1:1000 for some assets, depending on the account location and type. However, leverage is restricted to 1:30 for EU clients due to regulatory limitations.
SimpleFX vs IronFX Trading Fees Comparison
SimpleFX does not charge any commissions or fees for trading or staking. It only makes money from the spreads, which are floating and vary by market conditions and account types. The average spread for EUR/USD is 0.9 pips on a standard account and 0.1 pips on an ECN account.
IronFX charges commissions only on its Zero Fixed Spread account and its STP/ECN accounts. The commission rate is $18 per lot on the Zero Fixed Spread account and $7.5 per lot on the STP/ECN accounts. The spreads are fixed at zero on the Zero Fixed Spread account and floating from zero on the STP/ECN accounts. The average spread for EUR/USD is 1.2 pips on a standard account and 0.7 pips on an ECN account.
SimpleFX vs IronFX Account Types Comparison
SimpleFX offers two main account types: standard and ECN. The standard account has no minimum deposit requirement and no commissions. The ECN account has a minimum deposit of $1000 and a commission of $3 per lot per side. Both accounts have access to all trading instruments and platforms.
IronFX offers six main account types: Micro, Premium, VIP, Zero Fixed Spread, Absolute Zero STP/ECN, and No Commission STP/ECN. The minimum deposit ranges from $100 to $20,000 depending on the account type. The commission varies from zero to $18 per lot depending on the account type. The spreads range from zero to 2.2 pips depending on the account type. The number of available instruments also differs by account type.
SimpleFX vs IronFX Deposit Options Comparison
SimpleFX supports a variety of deposit and withdrawal options, including credit/debit cards, wire transfers, e-wallets (Neteller, Skrill), cryptocurrencies (Bitcoin, Ethereum), and local payment methods (Fasapay). There are no fees for deposits or withdrawals except for wire transfers which may incur bank charges.
IronFX also supports a variety of deposit and withdrawal options, including credit/debit cards, wire transfers, e-wallets (Neteller, Skrill), and local payment methods (Webmoney, QIWI). There are no fees for deposits or withdrawals except for wire transfers which may incur bank charges.
SimpleFX vs IronFX Trading Platforms Comparison
SimpleFX offers its own proprietary web and mobile trading platforms, as well as the popular MetaTrader 4 platform. The SimpleFX WebTrader is a fast and intuitive trading tool that supports advanced charting, technical analysis, and social trading features. The SimpleFX Mobile Apps are available for iOS and Android devices and allow users to trade on the go.
IronFX only offers the MetaTrader 4 platform, which is a widely used and reliable trading platform that supports multiple order types, indicators, and automated trading strategies. IronFX also provides access to AutoChartist and TradingCentral, two third-party analytical tools that offer market insights, signals, and patterns.
SimpleFX vs IronFX Analytical Tools Comparison
SimpleFX and IronFX both provides various analytical tools for its users, such as live news feeds, economic calendars, trading calculators, and market sentiment indicators. It also offers a blog that covers market news, analysis, tutorials, and trading tips.
SimpleFX vs IronFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences, trading goals, risk appetite and budget. You should compare the features and benefits of each broker and decide which broker suits you best. You can also read online reviews and ratings from other traders to get their opinions and experiences. Ultimately, the best forex broker for you is the one that meets your expectations and helps you achieve your trading goals.
