IronFX Review
Reviewed · Last updatedA long-established multi-entity group with CySEC and FCA licensed companies for European Union and United Kingdom clients, an FSCA-registered intermediary in South Africa and a British Virgin Islands company elsewhere. The entity that onboards a client decides the protections that apply.
This review is provided for general information and does not constitute an endorsement, investment advice or a recommendation to open an account. Broker information may change after publication. Readers should verify regulatory status, product availability, fees and legal documentation through official sources before making any decision.
Strengths
- Tier-1 regulated entities (CySEC, FCA) with published licence numbers
- Broad instrument range: 80+ FX pairs plus metals, indices and shares
- Negative balance protection on EU and UK entities
- More than 15 years of operating history
Limitations
- Complex multi-entity structure: client protections differ sharply by entity
- Many account types make cost comparison harder
- Weekend support is not available
Who this service may not be suitable for
Anyone seeking a guaranteed income from trading (no broker offers this, and most retail CFD accounts lose money); readers unwilling to verify which legal entity would hold their account; residents of the United States and other restricted jurisdictions; anyone who cannot afford to lose the capital they deposit.
Key facts
- Main regulation
- CySEC 125/10, FCA 585561, FSCA FSP 45276, BVI FSC SIBA/L/24/1175
- Markets offered
- Currencies, Indices, Commodities, Share CFDs, ETFs, Crypto
- Regions served
- European Union, United Kingdom, South Africa, International entities
How this score was calculated
Facts recorded on 14 Sep 2026 from the broker’s official website and regulator sources, scored with our published rubric. Items we could not find on the official website count as not disclosed.
Regulation and transparency
- Strongest regulator tier: 4.0
- +0.5 two or more major regulators
- +0.5 licence confirmed on a regulator register
- -0.5 main website operated by Notesco (BVI) Limited (2.0 tier)
- -1.0 licence withdrawn/cancelled or regulator warning about own website
- Regulator action: 2022-10-10: CNMV: Warning: www.ironfx.com added to the list of unauthorised entities
Costs and fee disclosure
- Yes: Commissions published
- Yes: Overnight (swap) rates published
- Yes: Inactivity fee disclosed
- Yes: Deposit and withdrawal fees disclosed
- Yes: Currency conversion fee disclosed
Risk and consumer information
- Yes: Risk warning on homepage
- Not found: Retail loss percentage published
- Yes: Risk disclosure or KID available
- Yes: Negative balance protection stated
- Yes: Segregated client funds stated
- Yes: Legal documents public
Customer support
- Yes: Live chat
- Yes: Email
- Yes: Phone
- Yes: Hours: 24/5
Education and research
- Yes: Education section
- Yes: Risk education content
- Yes: Webinars or courses
- Yes: Market analysis
- Yes: Economic calendar
Website and user experience
- Yes: Legal documents page
- Yes: Fees page
- Yes: Entity and licence in footer
Regulatory status by region
The entity that holds an account determines the regulator, client-money rules and compensation arrangements that apply. Check the entity on the official register of the named regulator before opening an account.
| Region | Legal entity | Regulator and licence |
|---|---|---|
| European Union | Notesco Financial Services Ltd | CySEC, CIF licence 125/10 |
| United Kingdom | Notesco UK Limited | Financial Conduct Authority, FRN 585561 (source: broker disclosure) |
| South Africa | Notesco SA (Pty) Limited | FSCA, FSP 45276 (intermediary; product supplier Notesco (BVI) Limited) (source: broker disclosure) |
| International entities | Notesco (BVI) Limited | Financial Services Commission, British Virgin Islands, Investment Business Licence SIBA/L/24/1175 (source: broker disclosure) |
Full review
IronFX is a long-established brand operated by the Notesco group, which runs several licensed companies in different regions. Which company holds an account decides the rules, protections and complaint routes that apply, so this review starts with the entities.
The entity that holds the account
Four companies are published for the regions we cover. Notesco Financial Services Ltd holds Cyprus Investment Firm licence 125/10 from CySEC and serves European Union clients. Notesco UK Limited is entered on the Financial Conduct Authority register under reference 585561 for the United Kingdom. Notesco SA (Pty) Limited is a South African financial services provider, FSP 45276, acting as an intermediary with Notesco (BVI) Limited as product supplier. Notesco (BVI) Limited holds Investment Business Licence SIBA/L/24/1175 from the Financial Services Commission of the British Virgin Islands and serves other regions, including through the main international website.
Two consequences follow. Clients onboarded by the Cyprus or United Kingdom company fall under EU or UK conduct rules and the compensation arrangements attached to them; clients onboarded by the British Virgin Islands company do not. Spain’s CNMV also added the address www.ironfx.com to its list of entities not authorised to provide investment services in Spain in October 2022, which is recorded in the evidence section of this page; EU business is carried out by the CySEC-licensed company.
What is available to trade
The website lists contracts for difference on currencies, indices, commodities, share CFDs, ETFs and cryptocurrencies, with the exact range depending on the entity and the account.
How costs are published
Commissions, overnight financing charges, inactivity charges, deposit and withdrawal charges, and the currency-conversion charge were all published in the material we checked. The group offers several account types, so the figures that apply depend on the account selected at registration.
Funding and client money
The group states that client funds are held in segregated accounts and that negative balance protection applies to its regulated European and United Kingdom entities. Legal documents, including terms of business and risk disclosure, are published without registration. The percentage of retail accounts losing money was not shown on the page we checked, although EU and UK rules require it in the entity websites and marketing covered by those rules.
Support
Live chat, email and telephone support are published, with availability stated as around the clock on weekdays. Weekend cover is not offered.
Education and research
An academy section, risk education, webinars or courses, market analysis and an economic calendar are published on the website.
Before opening an account
Check which company appears on the client agreement, confirm its licence number on the register of the regulator named in it, and read the terms covering withdrawals and complaint handling. Protections differ sharply between the European, United Kingdom and offshore entities. A majority of retail accounts lose money when trading CFDs.
Research methodology
Assessed against our published framework using the broker’s public website, legal documents and regulator registers. Every broker is assessed using the same documented criteria. Full methodology →
Sources
- Broker website and legal documents: ironfx.com, retrieved 24 Sep 2026
- CySEC register, licence 125/10, checked 18 June 2026
- FCA Financial Services Register, reference 585561, checked 18 June 2026
- FSCA register, FSP 45276, checked 18 June 2026
- Broker’s published legal documents and account terms, checked 20 June 2026
- Regulator register: cysec.gov.cy, retrieved 14 Sep 2026
- Broker legal page: ironfx.co.uk, retrieved 14 Sep 2026
- Broker legal page: ironfx.com, retrieved 14 Sep 2026
- Broker legal page: ironfx.com, retrieved 14 Sep 2026
- Score evidence (costs): ironfx.com, retrieved 14 Sep 2026
- Score evidence (risk): shared.gighl.com, retrieved 14 Sep 2026
- Score evidence (support): ironfx.com, retrieved 14 Sep 2026
- Score evidence (education): academy.ironfx.com, retrieved 14 Sep 2026
- Score evidence (website): ironfx.com, retrieved 14 Sep 2026
Corrections and update history
- 14 Sep 2026: Regulatory entities and licence numbers researched from official broker disclosures and regulator sources.
Spotted an error? See our Corrections Policy.
CFDs and other leveraged products carry a high risk of losing money rapidly because of leverage, and a majority of retail investor accounts lose money when trading CFDs. A high editorial score reflects disclosure and service quality. It does not make trading safe.