IronTrade Review 2021

This IronTrade review 2021 reveals the whole truth about trading with a broker on the platform and mobile app. Here you will find all the pros and cons.

And of course the answer to the main question. Should you sign up or is it a scam broker?

IronTrade is a binary options broker founded in 2017. It tried to compete with brokers such as Olymp Trade, Binomo and IQ Option from the very beginning. Well, it didn’t quite succeed.

IronTrade Sign Up and Login

So, the first thing you need to trade on IronTrade is to sign up and login. Everything is simple here. You enter your email, country, phone number and come up with a password.

Note: data verification is required when withdrawing funds. You have the option to change your personal data after sign in.

IronTrade makes it possible to login using your Facebook or Google + account.

Is IronTrade legit?

Domain irontrade.com is owned and operated by Rosco Solutions LTD, registered at Saint Vincent and the Grenadines. The company was founded in 2017 and is not regulated.

Does this mean IronTrade is not legit? Not certainly in that way.

There is almost no regulation for binary options. Binary options trading is generally prohibited in some countries by local laws. But the broker can still offer services in many countries. You can register and start trading. By doing so, you agree to trading risks and lack of government protection. This situation occurs in almost all binary and digital options brokers.

As a result, IronTrade accepts clients from Cameroon, Uganda, Nigeria, Kenya, Ghana, Tanzinia, Thailand, Venezuela, Vietnam, India, Indonesia, Philippines, Turkey and other countries.

The financial services on this website are not available to the residents of the following countries: USA, Canada, European Economic Area, Australia, Liberia, Pakistan, Japan, Israel, New Zealand, Russia, Switzerland, North Korea, Puerto Rico, Sudan, Iran, Syria.

Important: It is recommended to read the legit documents of the broker IronTrade. But read this review first. This will save you time.

Trading platform and offers

IronTrade provides its own trading platform. There is a lot to tell about this.

Initially, you are trading on a demo account. The demo account is free, but not unlimited. It is very different from a real account. But you will not be able to go to a real account and see all the difference in the conditions before the deposit. The broker did so on purpose. Because the real trading conditions and the IronTrade platform are disappointing.

Firstly, the profitability on trading instruments is much lower and averages 60-70%, rarely it reaches a maximum of 80%. And this is not the bottom. The profit is 40-60% during periods of low liquidity. This is an extremely low figure among binary and digital options brokers.

Secondly, the broker has very few assets. Many of them are only available for trading at certain times. Almost always about 30 assets available. IronTrade indicates the presence of more than 70 shares for trading on the platform. This is a complete lie. There are no company shares at all.

Thirdly, the trading platform slows down. The opening of a deal takes about 2 seconds. The deal is processed for a few seconds after the expiration date. The asset price can change dramatically during this time.

Finally, there are only 10 trading indicators for technical analysis on the IronTrade platform.

Now let’s get back to the general trade offers.

The minimum trade is $ 5 and the maximum is $ 200. You can open an unlimited number of trades. The expiration time is from 30 seconds to 240 minutes. The chart is available in 18 time frames and you can quickly switch between 4 trading instruments.

So, we can draw a small conclusion even at this point in the IronTrade review. It offers terrible conditions compared to Olymp Trade, IQ Option and Binomo.

Mobile app

IronTrade also has its own mobile app for iOS and Android. Any trader can download it absolutely free.

This might be a slight exaggeration, but it’s trash. The application has received limited functionality and the specialists are not working to improve it. It has many disadvantages compared to even the web platform.

For example, it does not show the return on an asset on the main screen. The profitability is indicated only when viewing the entire list of assets. This is absolutely inconvenient and can lead to big losses.

Most timeframes for charts and trading indicators are also not available in the application. Intervals are only available from 5 seconds to 1 minute. And there are only 3 trading indicators. Obviously, there are few opportunities for chart analysis. It seems the broker wants you trade at random.

A small advantage is the faster opening of trades than in the web platform.

IronTrade app is available only for Android and iOS devices. It is not available for PC. You can download it from the official website or directly in the AppStore and Google Play. It is called the Iron Terminal. However, you can leave 40 MB on your device for a more useful occasion.

Deposit and withdrawal

The review finds that IronTrade customers have few ways to deposit and withdraw funds.About 5 methods are available in all countries: Credit / Debit Card, Wire Transfer (UPI), Skrill, Neteller and Crypto.

There are also several local payment options. For example, GlobePay is available to traders from India, NganLuong is available to traders from Vietnam, and Mobile Money can be used by clients from Africa.

The minimum deposit for trading on IronTrade is $ 10. The minimum withdrawal is also $ 10.

The processing of withdrawal requests takes from 1 hour to 3 working days (up to 15 days when using Visa / Mastercard).

Bonus and tournaments

Each client of IronTrade can receive a deposit bonus from 10 to 50%. This can also be obtained using a special promo code. Promo codes are sometimes posted on social networks or sent by email.

So, you will not be able to withdraw funds from your account while you have bonuses. This is possible only after completing a certain trading turnover. The amount of the required trading turnover is a sum exceeding a thirty-five (35) times the bonus sum.

The bonus cannot be worked out and withdrawn as real funds. It can only be used for trading. In fact, this stimulation system is aimed at reducing the client’s real funds (the rules have coefficients for the calculation). The client has the right to withdraw all funds from the trading account in the event of a complete refusal from bonus funds.

The broker Irontrade also has tournaments. Some tournaments are free of charge. However, their prize pool is $ 25. Participation in a tournament with a prize pool of $ 200-1000 requires a fee of $ 2-5. Contests are held on a special demo account. The client with the highest balance wins.

Pros and cons

Is IronTrade a scam?

IronTrade may be a scam broker.

It cheats traders. Initially, the broker doesn’t provide an opportunity to evaluate real trading conditions without making a deposit. The average return on options is much less than 80% and there are no stocks at all. At some moments, Iron Trade seems to manipulate price quotes and draw charts. And their bonus serves only to reduce real funds.

Based on the reviews from traders about IronTrade, they are extremely unhappy with trading on this platform. And they can be understood.

As a result, no one can wish this broker to trade binary options. So IronTrade is most likely a scam.

Conclusion

The IronTrade review 2021 finds that it is absolutely not acceptable for binary options trading. The broker is not safe or reliable. Its own platform, mobile app, and special offers are very disappointing. Here you can only lose all your funds. The broker deservedly goes to the Scam category.

As noted at the beginning of the review, the broker was unable to compete with Olymp Trade, Binomo and IQ Option.

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