Here is an honest Iron Trade review which you need to read before using the platform to know if it’s legit or scam.
Iron Trade is a Forex trading platform with popular assets for trading in different currencies such as EUR/USD, GBP/USD, and also stocks of top companies.
However, it is not advisable to start trading on an online platform without researching to find out how transparent the platform is.
What is Iron Trade?
Iron Trade is a popular bespoke binary options platform for trading a huge range of digital assets. The platform came into existence in 2019, and it is a new broker service on the international market.
Iron Trade allows users to predict high and low standings of assets such as currency pairs, cryptocurrencies, and commodities.
The platform is claimed to be owned and managed by Rosco Solutions LTD in Kingstown, St Vincent, and Grenadines, while the information on the website is provided by Triafor Solutions LTD in Nicosia, Cyprus.
There have been several claims of scams linked with the broker, in this post you will find out everything you need to know before investing your money.
Iron Trade Restricted Countries And Language Support
Below are the countries restricted from using the Iron Trade service:
- European Economic Area
- New Zealand
- North Korea
- Puerto Rico
Below are the only languages supported by Iron Trade:
At the time of writing this Iron Trade review, the broker currently offers up to 31 financial assets for binary options trading, which includes;
- 20 currency pairs- including, EUR/USD,USD/RUB, EUR/CHF, GBP/JPY etc.
- 4 cryptocurrencies- Bitcoin, Litecoin, Ethereum, and Ripple.
- 4 Index- UK100, AUS200, JP225, DE30.
- 3 Commodities- Gold, Silver, and WTI Oil.
How to create Iron Trade Account
Below are steps to create your account and start trading assets:
- Navigate to irontrade.com and create an account using your name, email address, country, and phone number.
Check your email for verification.
- Your account will be created successfully, log in, and add other information about yourself.
There are three types of accounts for trading with Iron Trade which are:
- Demo Account
The Demo account is only for practicing and mastering your trading skills before you start trading properly. This is only accessible after you have successfully registered on the platform.
The Demo account comes with a default balance of $10,000 or ₦10,000 virtual funds depending on your country currency.
Any profit made while trading with the demo account cannot be withdrawn and it’s filled up again in case your balance goes down to zero.
- Standard Account
The Iron Trade standard account is meant for traders to start their investments in the live market. You only need a minimum of $10/₦3,500 to own a standard account on Iron Trade.
Meanwhile, the maximum payout on this type of account is 80% on investment excluding the broker fees.
- VIP Account
Iron Trade VIP account is usually expensive. You have to deposit $900 which is equivalent to ₦300,000 and the payment is 90% with a bonus and faster withdrawals.
What are Iron Trade Deposits and Withdrawal Methods?
Iron Trade only support three payment methods for deposit and withdrawal which are:
- Visa/Master Card
Your available payment method depends on the country you choose during registration. And you are required to pass a one-time verification before making a withdrawal.
Your bank account name must match with the name on your Iron Trade account.
Financial trading is very risky and can result in account losses and total account wipeout if proper risk management procedures are not adhered to. Only trade with money you can afford to lose.
Iron Trade Bonus
The broker rewards customers with a 27% deposit bonus on their first fund’s deposit for the trading of assets.
The bonuses are optional, you can either accept or decline them.
Iron Trade also offers a 100% referral bonus that is only applicable when the referred user makes a deposit of $30 and start trading.
Iron Trade Review: Is it a scam?
Iron Trade was established in 2019 and it’s claimed to be owned by Rosco Solutions Ltd, but there seems to be no relationship between Iron Trade and Rosco Solutions Ltd.
Users have been complaining of the inability to withdraw their funds which is a bad reputation for an online trading platform. And the broker is not regulated by any authority.
However, this Iron Trade review is not in any way intended to promote or tarnish the image of the broker, rather is to educate you before you start trading.
IronTrade vs Olymp Trade Which is Better?
Olymp Trade is a broker service that allows users to earn up to 90% profit with minimum investment.
Users have been comparing Iron Trade and Olymp Trade. After visiting both sites I mapped out the differences between the two binary options platforms.
- Year of Establishment
Iron Trade was founded in 2019 while Olymp Trade was established in 2014 and has been running smoothly.
Being a new broker in the market, with customers complaining about having withdrawal issues, Iron Trade is not all that trusted.
Iron Trade claims to be owned by Rosco Solutions Ltd, and information on the site provided by Triafor Solutions Limited which I tried to find out but Rosco Solutions is not available and Triafor Solutions is not about trading.
Meanwhile, Olymp Trade claims to be owned and managed by Saledo Global LLC which is a trading platform.
Olymp Trade is registered under Visepoints Limited and Wallfort Limited which is a financial service founded in 1994.
After reading this Iron Trade review, I believe you have gotten the needed information before you start trading, and always note that trading is at your own risk, only trade with your money.
From what I found out about the platform and other expert reviews, Iron Trade is not very safe and secure for trading, but let it not be that I’m going against your opinion.
You can invest but always do your research before trading and don’t blame anyone if your investment went the wrong way.
Thanks for reading, please share, and don’t forget to drop your comments.