Our research team has prepared a detailed review on the broker Iron Max Group. After analyzing customer reviews and the services provided by the company, we have compiled a clear synopsis that will be useful to novice investors and traders who want to start working with the broker Iron Max Group.
Founded in 2007, Iron Max Group brings a fresh and clear approach to the brokerage market. Traders are provided with simplified and profitable access to the financial markets.
Trading analysis and execution is performed through the MetaTrader 4 platform and the company’s proprietary trading platform called Iron Max Web. The firm clearly focuses on giving traders access to good market flow and tight trading spreads. The home page of the site has an attractive look and feel and is easy to navigate.
In conducting our in-depth review of Iron Max Group, we found that the company puts commissions in its spreads between bets and offers. This ensures that the pricing schedule is transparent and easy to compare to other brokers’ prices. Iron Max Group excels in this regard as they offer a competitive trading environment. Iron Max Group spreads on stocks can be as low as 0.05 pips and spreads on major currencies as low as 0.6 pips. Spreads may vary depending on market hours, but it is worth noting that Iron Max Group offers non-stop trading around the clock.
Leverage for retail accounts is limited to 1:30, which is standard market practice. Those who qualify for one of the other accounts offered may see leverage levels as high as 1:400.
Although third parties (a bank, or payment service) may still charge fees, the broker itself does not charge for deposit processing or withdrawals.
Iron Max Group supports trading in foreign exchange markets as well as CFD instruments covering: stocks, commodities, indices and cryptocurrency markets. The total number of available instruments exceeds 1000.
Traders using Iron Max Group are provided with the well-known and highly regarded MetaTrader (MT4) trading platform. This platform is a kind of market standard and has a reputation for being a reliable, efficient, customizable and functional platform that is suitable for a wide range of traders.
MT4 offers a higher level of market overview, but also gives traders and analysts the ability to go into greater detail and use advanced charting features. MT4 is available on PC and mobile devices (iOS and Android).
Given the ubiquity of MT4, we can agree with the statement that it is “the world’s most popular online trading platform”. The set of indicators available is extensive and each of them can be customized to maximize your analysis.
The Iron Max Web platform is suitable for traders of all experience levels. Since some brokers restrict strategies based on scalping, it is worth noting that Iron Max Web does not. The broker is also suitable for passive traders who want to buy a less volatile asset and receive passive income.
One-click trading is also available to clients. In addition, more complex orders can be created with a choice of parameters including: market orders, pending orders, stop loss and take profit.
Customer service is key, and in conducting our review on Iron Max Group, we found that the broker has a large staff of professionals who are always happy to help every customer. Phone support is available in 7 languages, including Russian, English, and German.
The supporting tools of Iron Max Group, although less than those of other brokers, but they have several distinctive and attractive features. The economic calendar, which offers an outline of upcoming events, is rather sparse, but Trading Central takes a special approach to providing traders with the right tools for trading.
The daily market reports offer a well laid out summary of market events. Clients can use this tool to look for market opportunities.
There are also resources that explain the basics of trading to beginners. Iron Max Group webinars, for example, include sections on “Mastering Japanese Candlesticks” and are free of charge.
There is also an opportunity to access training materials provided by MetaTrader. This includes a number of high quality video tutorials that are a good start in mastering the trading platform.
IMG community also offers a traders forum, where account holders can ask questions, share information with each other and leave feedback on Iron Max Group instruments. The topics discussed are more focused on developing successful trading skills rather than fundamental analysis of specific markets.
Opening an account with Iron Max Group is not a complicated process. Demo accounts are free of charge and do not require any trial payments to activate, and it takes a few minutes to set them up. Registering a full-fledged account is in line with current standard market practice and reflects the regulatory requirements brokers must adhere to. Funds can be transferred in a variety of ways, including: bank transfer, cryptocurrency, credit/debit cards, and e-wallets.
Iron Max Web trading platform is available on mobile devices through iOS and Android. The mobile version of the MT4 platform has all the basic functionality a trader could be looking for, including the use of up to 9 time intervals and up to 30 chart indicators.
One of the advantages of MT4 as a platform is the ability for Iron Max Group clients to use Expert Advisors (EA) and a unique “store” of automated trading robots and technical indicators. EA uses specially designed software to provide users with automated trading strategies. It is an incredibly useful resource to tap into. The IMG community offers a range of trading ideas that you can interact with. EAs essentially provide automated trading, allowing those who can’t control the markets 24/7 to follow their strategies.
Iron Max Group supports cryptocurrency trading through both platforms. For added convenience, positions are stored as CFDs, which means customers do not need to create a separate account on the exchange, instead they can trade the cryptocurrency markets in the same way as other Iron Max Group instruments. Another advantage of using CFDs is that it allows you to open both short and long positions in the market. Given the sometimes speculative nature of the crypto sector, this short selling opportunity may well appeal to some investors.
You can use almost all known cryptocurrencies to trade, including: Bitcoin, Ethereum, Litecoin and Ripple. Commissions are included in the offer spread, and rates are competitive.
Iron Max Group offers simplified access to the center of the financial markets. The popular MT4 platform is reliable and efficient and will appeal to traders looking to invest time and resources in their trading strategies, while the unique Iron Max Web trading platform developed by Iron Max Group is also suitable for traders of all experience levels.
In addition to the pluses of the company, is a large selection of cryptocurrencies.
The range of markets and the number of research and training tools is not as large as at other brokers. The degree of regulatory protection offered varies depending on where the account holder lives.
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