IronFX brokerage has been providing services to clients around the world for more than 10 years. It provides terms for passive and active income. The firm was registered with Bermuda as well as in Bermuda, where there are no regulatory bodies, and there are no licenses. In the time it has been in operation, the broker has been awarded more than 30 awards, however it does not provide details regarding nominations.When you inquire about regulations the broker’s support team states that it has a variety of licenses, which include those issued by regulators. A thorough analysis uncovers inconsistencies that are further explained within the section Security and protection of clients from the IronFX  area. Be aware that the absence of a license indicates that there isn’t any protection against a broker that isn’t meeting its obligations, and the broker isn’t guaranteed protection for the interest of investors.

Benefits of trading through IronFX:

  • 24-hour communication, with an international support team during the week
  • A wide range of trading assets
  • various bonuses and promotions

Disadvantages of IronFX:

  • In the absence of a verified license to offer services and there are no regulatory bodies
  • The information on the website is not complete
  • The verification process may be repeated
  • There aren’t any training materials on the website
  • There is a regular delay when withdrawal of funds
  • Difficulties that arise with MT4 problems with its updating. There are many examples online of traders who suffered losses because of platform issues
  • There are frequent slippages which indicate the broker’s issues with liquidity and supply providers
  • There is a disparity between quotes

IronFX’s affiliate program

The opening of a personal account as an agent of a broker gives you advantages in the form of additional incentives, contests, advantageous trading terms, and even rebates. There aren’t any affiliate program rules. Instead of defining the conditions and benefits that the affiliate program offers, the website of the broker allows you to sign up immediately. There’s no information on the site about an option to manage stats for referrals on your personal account, the type of attraction tools are offered by the broker as well as the program’s terms.

Affiliates is a program designed for people who earn cash rewards when they bring new customers to the company. The rewards can range depending on the trade through the attracted referral. The broker provides banners, videos, presentation videos and page landings, SEO support, SMM, PPC specialists and more for marketing its platform.

The benefits of the program are over, but with only two points:

  1. On the site of the program it is stated that support is available 24/7 However, under the Contact section it is 24/5.
  2. Support was questioned about the CMS their landing page is built upon and what APIs they provide and what the terms and compatibility are. After several attempts to contact other managers, the support team replied: “Register and you will discover everything.”
  3. The support team was asked: SEO services, promotion on social networks, and contextual ads are costly and need constant effort to keep running; therefore how exactly can the broker assist in defining the conditions? Support was unable to answer.

Participation in any affiliate program has specific requirements to be fulfilled, for example, the requirement for partners to bring new customers to the business. The broker will give the partner all marketing materials required to achieve this, as well with a unique referral link.

The large number of affiliate programs with no specifics about the terms and benefits they offer could suggest that the broker is running a marketing campaign with the intention of attracting new customers without any intention to provide the client with a positive trading experience.

How Does Forex Leverage Work?

In trading, leverage refers to an approach to trading that involves borrowing money to buy a particular trading item either a security, stock or currency exchange. This is especially prevalent in the forex market in which traders frequently use leverage to borrow money from brokers. This permits a trader to open a huge position in a particular currency pair. If an exchange rate for two currencies fluctuates in the manner the trader had predicted the return will be boosted by the leverage.

However, there’s a negative of that when it comes to the possibility of a currency pair changing in a way that is unpredictable. The leverage could increase your losses, too. This is why forex traders must be familiar with the fundamental risks management strategies to trade successfully using leverage.

Should I Use High Leverage?

If you’re new to the field of education it is recommended to stick to leverage levels that are low at the beginning. Make sure you protect your capital and minimize risks by using trailing stop and limit the amount that you put into each account to 1 percent of your capital total for trading.

Keep in mind that high leverage brokers can be effective, however only if you’re comfortable with risk management strategies that are effective. If not, this kind of trading should be reserved for experienced traders who are able to better navigate the waters. In short, leverage can be beneficial however it can be risky for novices.