IronFX Trading Cryptocurrencies
As mentioned earlier, IronFX majorly is known for the trading of cryptocurrencies. They include Bitcoin, Ethereum, Litecoin, and Ripple. Trading with IronFX allows a trader to speculate on the upside or the downside movement. They allow a trader to trade of Ethereum and Bitcoin without the need for a required Digital Currency wallet. The wallet is required in conventional cryptocurrency transactions. Their high-caliber trading conditions, low spreads and commissions, low margin requirements and very minimal orders, allow a trader to trade even between cryptocurrencies and actual currencies, like the US Dollar, the Euro, and the Japanese Yen. This is essentially enabled by their cutting-edge technology, user-friendly trading platforms, and 24/5 multi-lingual and personalized customer service support.
In mid-2018, it was announced that IronFX Group and EmurgoHK Group, would collaborate, to operate a cryptocurrency exchange. EmurgoHK is a Hong Kong-based company, responsible for the Cardano Blockchain and the ADA Coin. The collaboration bore a new crypto, known as IronX Exchange. It will be a service-focused and regulated exchange, aimed at facilitating funding through cryptocurrencies. The partnership also combines the EmurgoHK’s blockchain, with the existing IronFX operational processes, practices, and solutions.
What the IronX Exchange Will Do
The IronX Exchange will provide a broker with several company functions that include payments, account management, banking, back-office and risk management solutions. In moving to the IronFX’s platform, the IronX Exchange platform will help clients in using their digital assets and crypto accounts. This move is aimed at attracting traders who are interested in switching from traditional asset classes to cryptocurrencies. The IronX Exchange platform will also address key issues faced by investors and traders in the cryptocurrencies industry, all over the world. In announcing the merger, the heads of both companies said they cannot wait for the launch of the IronX trading platform.
The IRX Tokens
Also, in an ‘Invitation only’ move, the IronX Exchange will launch IRX tokens, which are private tokens to be used further in the platform. The pre-sale of the private IRX tokens commenced on June 4th, 2018 and will see 200 million tokens offered at $0.33 per token. Their total is 500 million tokens. Holders of IRX coins are expected to benefit in several ways. First off, they will be eligible for further incentives and services. They will also enjoy discounts when opening trading accounts with the IronFX Group. The success of the private IRX Tokens can be generated from the success of the IronX Exchange.
The IronX Exchange is a joint venture, between two globally-leading companies, in the trading business. IronFX Group is one of the world’s best online trading broker, whereas EmurgoHK is a blockchain pioneer, bosting with the creation of the Cardano Blockchain and the ADA Coin. IronFX is highly experienced, has a strong customer base, has a worldwide standing, is multi-award-winning, and has a global regulatory framework. The EmurgoHK Group, on the other hand, brings in the pioneering blockchain experience. A product between these two giants should deliver so much to the traders. In the same spirit, the IRX Tokens should also be a success in the future of the IronX Exchange.
The IronX Exchange should focus on providing top-class services to clients and traders. It should be a safe and strong framework, borrowing some expertise from the IronFX Group. Finally, it should bridge the gap between the traditional online trading practices with the new crypto styles, for the clients, in a very easy and costless manner. This is through the strengths that each company brings to the table.
Overview
IronFX is a financial brokerage firm, that provides access to the retail foreign exchange markets. It is an award-winning global leader in online trading services, with customers from over 150 countries, in Asia, Africa, Europe, the Middle East and Latin America. According to their website, they provide round-the-clock coverage, with their accomplished global client coverage teams. To their clients, they provide daily market news and insights, for them to get the best information and data, to make informed trading decisions. Up to this point, IronFX has been known for trading majorly, in cryptocurrencies.
The IronFX Group was founded in Limassol, Cyprus, in 2010. IronFX is regulated by different entities, including the United Kingdom’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprian Securities and Exchange Commission (CySEC) and the South African Financial Services Board (FSB). In 2015, the company voluntarily left four other regulations, being, the Russian Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), the German Federal Financial Supervisory Authority (BaFin), the Italian Commissione Nazionale per le Società e la Borsa, and the Financial Service Providers Register of New Zealand. At the same time, IronFX announced the closure of offices in, among others, Russia, Nigeria, and China.
IronFX Forex Trading
The IronFX Group is also known for the trade of more than 200 forex, spot metals, and CFD instruments. The company is a giant in these fronts, with operations in more than 150 countries, across almost all continents, in multiple languages. The country has bases, established in the over 60 offices set up across the world. Traders enjoy powerful trading platforms, and executions, thanks to the customer-centered business model of the Group.
Depending on the account type a trader chooses to use, there are different spreads and commissions. The company earns from these spreads, that are added to the price quotes. The currency being traded also determines the spreads that will be applied. The company has several trading accounts for the very different needs of each trader. They have:
a. Micro Accounts: For traders who can only manage to make deposits of $2,500 or less;
b. Premium Trading Accounts: For traders who can manage to deposit over $2,500. They have access to additional features, dedicated account managers, and lesser spreads;
c. Business Trading Accounts: These are for the businesses interested in the markets. They have the choice, to choose from a Corporate Account, Institutional Account or a Trust Account;
d. Cash Rebate Accounts: That can help a trader, earn cash rebates, on their trades;
e. STP/ECN Accounts: They provide a trader with the direct market access, for better prices and trade executions.
The spreads offered by IronFX Group are considered to be among the lowest in the industry. For the average spreads of each account and/or trader, more details are posted on the IronFX’s website. Before making a deposit to any broker, it is advisable for a trader to visit the website and perform a full comparison of the spreads.
Trading Software
Traders using the IronFX trading platforms have a choice of up to five trading software to choose from. These are:
a. MetaTrader 4: This is one of the most popular trading platforms in the industry. IronFX has integrated with the platform, to enable traders get a desirable trading tool, full of charts, indicators, and other trading essentials. Their IronFX Client MT4 Terminal, lets the traders enjoy trading using market indicators, comprehensive range of technical analysis and a team of expert advisors, in the profitable trading business.
b. IronFX WebTrader: This is an in-house IronFX production, developed so that traders get access to the brokers and their full line of financial services, through the web. It works on a browser and therefore does not require you to download and/or install any other trading software.
c. IronFX Personal Multi-Account Manager: The PMAM is a special trading software, for traders who want to diversify their range of trading rooms, all integrated into a single master account.
d. IronFX Mobile Trader: This is a software designed for on-the-go traders. The IronFX Mobile Trader gives a trader, access to his or her accounts, as well as the power to manage and/or execute trades from their mobile devices, be they iPhones, iPads, or Android devices.
e. IronFX Multi-Terminal: The last one is a trading software, ideal for traders who like to manage a number of accounts at once. It provides a trader with the ability to manage several trading accounts in one singular screen.
Conclusion
The IronFX Exchange platform is a trading platform that will see the advent of new and exciting methods and experiences in the world of trading. The fusion of these two mega-companies, the EmurgoHK Group and the IronFX Group, is a bright start to a future of crypto and forex trading. The exchange will see FX brokers and traders enjoy what they truly love to do, and that is be part of a global trading experience. Holders of the IronFX Tokens will be the first to experience the bright future, set by the IronX Exchange. They will be able to request additional information, incentives, and services, as well as get discount on the spreads paid. The Joint Venture is the future of trading and the bigger question for anyone who participates in online trading, or would like to start is, what are you waiting for? The IronFX tokens will be over soon and this is the opportune time to jump on the bandwagon, to consider oneself as an online trader on the best trading platforms in the industry.
- How to Show Bid and Ask Price on MT4 - July 6, 2020
- What is Margin Call Level on XM MT4 Platform? - July 4, 2020
- What is Forex?
