IronGatesFX Review – 5 things you should know about irongatesfx.com

Beware! IronGatesFX is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

IronGatesFX is nothing more than another anonymous company asking you to invest without providing either safety or a decent trading environment. This broker has recently been deemed to be a scam by a strict financial regulatory body – which is your queue to ignore them and open an account with a reliable, licensed company instead.

IronGatesFX Regulation and Safety of Funds

IronGatesFX is a completely anonymous broker. They have not provided a registered address or a company name we could look up. Do not count on finding any license numbers on the broker’s website either – which is hardly surprising considering that no legitimate broker could get away with providing so little information about itself.

When we looked up the broker’s name online, we did find something about them – that the Swiss regulator FINMA has recently published a warning that this broker is completely unlicensed.

Such a warning is a wake-up call and a clear indicator that this broker is not to be trusted under any circumstances.

Trade with reliable brokers only. The best way to make sure that a broker is reliable is a solid license. Companies regulated in strict jurisdictions such as the EU, the UK, and Australia are generally your best choice. The stern authorities of these countries make sure that clients are treated in a fair and transparent manner, and that brokers maintain a high standard of service. Working with such an enterprise is far better than choosing an anonymous, shady enterprise like IronGatesFX.

IronGatesFX Trading Software

IronGatesFX claims that it offers access to a supreme web-based trading platform. We were, however, not able to get access to that platform since the broker’s website malfunctioned when we tried to open an account. We were therefore unable to access either a client area or a platform.

The web platforms such shady brokers often offer are often very rudimentary anyway. They can hardly be compared to industry-leading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. These platforms offer a much higher level of functionality but are also quite easy to navigate. All in all, trading on such software would provide for a far better trading experience.

IronGatesFX Trading instruments

IronGatesFX offers its clients the chance to trade Stocks, Commodities, Indices, and Cryptocurrencies. The lack of access to the most popular markets is, however, noticeable.

Most legitimate brokers offer access to hundreds, and sometimes thousands, of trading instruments – so there is absolutely zero point in opening an account with a scam broker.

IronGatesFX Spreads and Cost of Trading

Since we could not open an account with IronGatesFX, we were unable to see what sort of spreads the broker offered. Good spreads are, however, no reason to open an account with a dangerous scam enterprise. What we would recommend that you do instead is turn to a legitimate broker since many such companies offer amazing spreads – around 1 pip and even lower.

IronGatesFX Maximum leverage

IronGatesFX promises maximum leverage varying between 1:200 and 1:300 depending on your account type. Trading with such high rates might seem tempting because it can potentially result in bigger profits. However, it could also lead to far bigger losses – especially on assets as volatile as the ones IronGatesFX offers. There is a reason why strict leverage restrictions exist in many jurisdictions – authorities have simply tried to limit the size of the losses retail traders could suffer.

IronGatesFX Deposit and withdrawal methods

We were unable to open an account with IronGatesFX and see which deposit methods this broker actually accepts but on their website, they have stated that clients would be able to deposit via local bank transfer or with a credit/debit card. These are indeed two reliable payment methods. What we consider especially beneficial when it comes to Visa and MasterCard transactions is that they can be reversed within 540 days. If you have already deposited with these scammers using this specific payment method, ask for a chargeback as soon as possible. But, of course, it is best to not deposit with such shady brokers in the first place.

IronGatesFX Minimum deposit

Although IronGatesFX accepts minimum deposits as low as $250 once you have opened an account, the initial amount required is much higher – as much as $10 000. This is ridiculous – plenty of legitimate brokers have started offering very affordable trading accounts, even for as little as $1 on some occasions.

IronGatesFX Withdrawal requirements

IronGatesFX offers bonuses – and we were not surprised to find some shady clauses related to those bonuses in the broker’s Terms and Conditions.

If your account has been credited with a bonus, you would have to reach an enormous turnover – 4o times your deposit plus the bonus – in order to withdraw bonus funds. That might not sound too bothersome at this stage but consider the fact that scammers often tend to change their Terms and Conditions without notice. You might be surprised to find that some scammers might try to prevent you from withdrawing your own deposits and all profits at a later point – just because your account has been credited with a bonus.

Be careful and always read the Terms and Conditions carefully to ensure that your broker has not added outrageous clauses in the fine print.