Iron Max Group review 2020
Iron Max Group is an online broker founded in 2007 and headquartered in London, UK, providing secure and convenient access to global markets, including Forex, cryptocurrencies, stocks and commodities. The broker is positioning itself as one of the first to provide access to leveraged cryptocurrency trading on its platforms and using advanced technology. They provide traders with the popular MetaTrader 4 trading platform and their own web-based trading platform with an advanced interface and advanced technology for trading various assets. Investors can use the platforms via the Internet, the application on a PC or on their mobile devices. Reviews on Iron Max Group indicate that you can create an account in less than a minute and deposit cryptocurrency for instant access to margin trading with competitive trading conditions such as low commissions, tight spreads and high execution speed.
Iron Max Group uses direct processing (STP) and electronic communication network (ECN) execution models for Forex, commodities and CFDs on indices. The STP model sends all your orders directly to liquidity providers without any dealing desk intervention. The broker must only benefit from the spread difference, ensuring that there is no conflict of interest. The speed of trade execution should be high due to brokers’ location in the world’s #1 financial processing center, combined with their extensive global infrastructure network.
In this review, we will look at the main points a trader needs to know before making a choice whether to open an account with Iron Max Group.
Iron Max Group Regulation
Iron Max Group is registered in St. Vincent and the Grenadines as an international brokerage company with registration number 23498 IBC 2016. As a registered International Business Company (IBC), they must comply with all regulatory requirements within the IBC jurisdiction worldwide. Iron Max Group does not have European regulators. This allows them to offer higher leverage, a wide range of trading instruments and cryptocurrency deposit trading accounts.
The broker uses cryptography and advanced encryption at all levels of their organization and infrastructure; customer data and funds are secure and the broker claims that they do their best to ensure maximum security and protection of any of their infrastructures:
- 100% cold storage: all incoming funds go straight into separate storage. The broker claims that client funds are separate from company funds.
- No automatic sending or sending via API: they constantly monitor systems for signs of suspicious activity and use a manual procedure to process withdrawals.
- Two-factor authentication: users get additional security provided by second-level authentication.
Iron Max Group platforms
MetaTrader 4 (MT4) is very similar to MT5 with slightly less features and functionality, but is still one of the most popular online trading platforms for traders around the world. Judging by the customer reviews on Iron Max Group, MT4 is quite satisfying for most traders. It is very easy to use, making it a suitable platform for beginners, while having sufficient functionality for experienced traders as well. MT4 is also available on PC and mobile devices (iOS and Android). You will find that most brokers offer MT4 while MT5 is more limited.
Iron Max Group Tools
Iron Max Group offers you a wide range of trading tools. You can trade cryptocurrencies, forex, commodities, stocks, commodities and indices, online with Iron Max Group. The company can also provide access to trading signals, training webinars, personal manager assistance and many other additional features. Additional features and their set will vary depending on the account level you choose.
Forex Iron Max Group
Trade 50 Forex currency pairs in the largest and most liquid market in the world with a trading volume of over 5 trillion dollars per day.
Iron Max Group Commodities
Trade your strategy or signals on 9 commodities, including metals and energy markets with high liquidity and low spreads.
Iron Max Group Indexes
Get direct and instant access to the 10 largest stock indices in the world with low spreads and lightning-fast execution speed.
Iron Max Group Cryptocurrencies
Trade several dozen cryptocurrencies such as bitcoin, ether, latcoin, dogicoin and other leading altcoins with high leverage.
Iron Max Group accounts and commissions
The brokerage company Iron Max Group offers 4 account types to choose from, which differ in leverage, spread levels, trading instruments and minimum deposits. The feedback on the Iron Max Group indicates that the most popular account is Iron Max Standard. In addition to this type of account, investors can choose another type of account, which suits them in terms of spread level and trading conditions.
Iron Max Group does not charge any fees for depositing, holding account balance or withdrawing your funds. Also, Iron Max Group does not charge any inactivity fees.
Iron Max Group also has a demo account that you can open for free. It comes pre-loaded with virtual funds, allowing you to practice online trading without risk. This can be a great way to get familiar with brokers’ trading platforms and master your trading strategies.
Iron Max Group Support
Iron Max Group offers 24/7 email support and chat support on the broker’s website and through social media. The broker’s website has a number of helpful articles that can give you instant answers to some frequently asked questions.
Iron Max Group Deposit and Withdrawal
You can deposit and withdraw funds with no fees and deposit cryptocurrency quickly and easily into your Iron Max Group account. You can also withdraw your cryptocurrency profits at any time without any fees and still maintain your financial privacy. The minimum withdrawal is 0.005 BTC / LTC.
Opening an Iron Max Group account
Opening an account with Iron Max Group is easy enough. You just need to fill out a small application form on the broker’s website, which will take you no more than a few minutes and go through the verification of your account with your identity documents. Impressively, trading accounts are approved instantly and deposits are made in minutes. This means you can get started much faster than with many other brokers. The minimum deposit is $200. That’s enough to get you off to a solid start and quickly grow your capital by leverage and customizable spreads.
Iron Max Group Verdict
For traders who prefer to trade cryptocurrencies, Iron Max Group would be a good choice. They provide most of the benefits of a regular trading broker, such as access to the MetaTrader platform, proprietary web trading platform and various markets when using cryptocurrency as a settlement.
Iron Max Group reviews.
The broker has acceptable and competitive trading conditions, including low commissions, tight spreads, instant market execution and 24/7 customer support. In addition, the platforms are equipped with all the features you need to start trading online.
Iron Max Group can be trusted, but there are some drawbacks to consider. The broker offers an extensive selection of cryptocurrencies, but there are not many other assets. Many customers have left negative feedback on Iron Max Group. They complain about the small amount of commodities and forex assets. Also, Iron Max Group currently does not offer Islamic accounts without swaps, which may inconvenience traders from Muslim countries. Also, the broker offers limited training materials and does not work with clients from the U.S. and Japan.