If you are a trader who has been surveying the current wave of online brokerage firms, then you must be as confused as me. There are just too many options to choose from and every other day you get directed to a new one. While it might be hard to settle for one, there are some out there that are indeed offering exemplary services.
Today, I am going to be reviewing one of the good ones and this one, in particular, has been my longest association with a trading platform. I joined IronShares right after this Crypto, CFD, Forex broker went live in July 2020. My experience so far has been satisfactory which is why I thought of sharing some of the instances I discovered about this platform. This will help traders out there to evaluate if this truly is the right one for them.
What is IronShares?
IronShares is a CFD trading app offered on both desktop and mobile devices. While its advanced features make this trading platform stand out when it comes to innovation, it is the highly informative guidelines on each of the features that make it the right choice for beginners as well. The platform offers over 200 tradable assets and allows you to trade with low spreads.
The idea of being able to trade anytime and anywhere is one I am still getting used to as there is always a little apprehension when you trade using online portals. There is a slightly greater risk which is also taken into account by this platform. Unlike most of my previous experiences with trading platforms, IronShares is a platform you will not find the MT4 and MT5 trading apps for. There is also no mobile trading app that is associated with this platform at the moment.
Some other key features that help define this platform:
- Convenient and efficient trading
- Informative layout
- Over 200 popular tradable assets
- Simple and smooth deposit and withdrawal process
- Transparent pricing
Is IronShares a scam?
With the number of tricksters currently hoarding the market, it is imperative that you do enough research on a chosen broker before opting for it and opening an account. And this exactly what I did with IronShares when I first joined it. I was pleased to find this company exhibits complete transparency when it comes to its security policies and pricing structure which can be very assuring for new customers. There is nothing more appealing about a platform than its regard for its client’s safety apart from success and this feature is one that makes you want to stick around with IronShares.
|Transparent policies||Overwhelming display|
|User-friendly design||Limited language selection options|
|Optimized daily and weekly market review||No centralized resource center|
|Innovative and informative web-design||No date and time display|
|Market Calendar with economic indicators||Privatized regulation|
|Daily trading newsletter||No MT4 and MT5|
Trading Platforms Offered
While IronShares does not use the widely popular MetaTrader4 Platform, however, traders of this platform will be able to launch the IronShares WebTrader platform directly from this broker’s very own browser. The web-based direction of the platform’s trading server makes it easier to access from any device and all you are required to do is log into your account. There is no requirement whatsoever for you to download any third-party software or application to carry out trade operations.
This also allows IronShares to equip the trading platform with its very own trading instruments. This variety of instruments will allow the traders to a custom set the chart according to their own preferences. Personally, I found this very accommodating as you can track your favored assets easily. The platform that IronShares has designed on its server allows you to search symbols for cryptocurrencies. From tracking your investments to having a price estimate at different intervals, this platform definitely is setting standards in the trading world.
I have been accustomed to long hours of registration processes with other trading platforms and this is exactly why I was glad that IronShares has already categorized a simplified sign-up process. You can start trading by completing the four steps and I was able to do it easily.
First comes the registration for which you are required to sign-up using your email address. This will allow you to create an IronShares account which is the first step for you to start on your trading venture with this platform.
Next comes the verification procedure and while you might have to check down a number of steps in this process, it is probably the most essential. This step ensures your security on this platform and allows IronShares to keep track of its clients. The platform stringent regulations for its clients to ensure that no market laws are broken which is why it is essential that the identity of every client is verified before they start trading on the platform. This will surely make your trading operation a lot smoother.
Then you need to deposit your funds into the account that you create. Depending on the minimum deposit balance requirement of your account, you will have to match up your fund transfer. You can transfer the funds using a variety of popular methods. You will be carrying out these transactions at your sole discretion and the company does bear any responsibility for the means that you use. So, whether it is your credit card or bank wire transfer, make sure that you take this factor into account. There seems to be no option for transacting using an e-commerce payment system on IronShares.
Lastly, all you need to do now is start trading and make the opportunities provides by this advanced trading platform.
IronShares categorizes the popular over 200 tradable assets into classes for its clients to trade with :
IronShares offers its clients a list of four account types to choose from and each of them has been packaged with a variety of characteristics. And it is these services that will allow you to assess which is the most suitable account for you. The Basic, Silver, Gold, and Platinum accounts all have a range of minimum deposit balance requirements.
You will notice that the minimum requirement for the Basic account is $5000 which is larger compared to other brokers. If you find that to be an inconvenience, you can have a run through the list of service features. You will see that the larger the account types you go for, the lesser is the commission charged. Now, this will allow you to evaluate which account is most suitable for you in the long run.
I started out with the Basic account and received a welcome bonus of 40% with leverage of 1:50. However, my withdrawal approvals took 4 business days to process which is why I decided to upgrade once I was satisfied with the trading conditions on this platform. The Silver account required 3 business days for withdrawal approvals which is why it seemed a lot more convenient for my business. It also allowed me to get a leverage of 1:100 on my trades.
|Account Type||Minimum Deposit Balance Requirement|
Each account type is monitored by the platform’s standard security protocols and the clients are provided access to 24/5 customer service support in case of any issue. There are no rewards in the two account types that I have used on this platform. However, higher accounts do offer rewards up to $1000 and $5000 respectively.
Customer Service Support
IronShares offers its traders access to a whole team of dedicated customer service support. The expert team looks to establish and maintain a strong relationship between the broker and the trader. I personally found the customer service highly efficient and responsive. While I could easily access the support from the Company listing with the Contact Us option, I still would have preferred had they introduced a form on all their other pages.
There are brokers in the market that I have been associated with that have integrated a live chat option in their domain. I find that to be really helpful since you can connect with the service representatives from anywhere on the platform. Overall, I found the service itself very accommodating and my experience itself with them was satisfactory as they managed to get back to me in time.
Categorizing IronShares in Numbers
|Execution Under 1 Second||99%|
|Orders Executed||5 Million+|
IronShares is a well-recognized trading platform that strives for success in today’s market by catering to its clients diligently. This platform exhibits premium quality features on all accounts which makes it a good choice for trading. It has a number of world-class trading conditions to offer its clients. You also get:
- Seamless trading
- Tight spreads
- Fast-order execution
- Dedicated account manager
While there might be little discrepancies here and there, but overall the platform offers exemplary features with secure operations which is a rare find in the market today.
Author has no direct or indirect liability to anyone for monetary damages, for the accuracy or completeness of the information it provided or for any delays, interruptions or omissions with respect thereto.
The author’s content is protected under applicable rights and intellectual property rights.