Iron-Bits Forex Broker Review 2021
For five years, Iron-Bits manages to provide satisfaction to its clients with excellent trading conditions. That’s not a short period of time, especially in the Forex world where there is no space for bad business moves. If traders are not satisfied, they won’t waste their time at all. So, if someone is able to stay in the business for more than five years with numerous positive comments on the Internet, it means the service is excellent.
That said, let’s see what service Iron-Bits provides and what is so special about this broker that it has so many returning clients.
Tradable assets at Iron-Bits
To start this Iron-Bits review, we decided to talk about assets for a little bit. It’s extremely important to find a place that can give you an opportunity to trade with different asset classes and apparently this broker does that.
Iron-Bits offers over 200 assets and you can choose every single one of them, no matter the account. They are all divided into categories, so it’s up to you to decide whether you want to trade Stocks, Commodities, Cryptocurrencies, Indices or Currencies. Also, if you are not familiar with a specific asset, there is an Asset Index that explains everything in a few sentences.
We are more than satisfied with how this review started. Not only clients have a lot of choices, but everything is explained in detail and even if you do not have a lot of experience, you’ll be able to make a proper decision.
Iron-Bits trading platform features
At Iron-Bits website, you will find a different kind of platform. It’s not downloadable and you cannot install an app. We are talking about a web-based trading platform that has a unique design and offers good user-experience. This broker describes it as reliable, convenient and powerful, which will allow you to trade anytime at any place. It’s also an award-winning platform and that fact always puts our expectations on a higher level.
Truth to be told, we didn’t have any experience with the Iron-Bits platform, so we had no idea what to expect. Obviously, the first thing everyone can notice about the trading platform is the design. This is not the most important thing, but it does add additional plus if it’s done nicely. In this case, everything is neat, without unnecessary details, and that’s what matters.
The platform is fast and although we spent a lot of time there, errors did not occur. So, it works without any problem. We realised that the left part is dedicated for account managing (you can deposit, ask for assistance, see account state, etc.) while the other part of the screen is for tradable assets.
The most important thing you need to know about the platform is that it is completely customisable. Everything that you see can be changed according to your preferences, so you can set the interval from one minute to one month, choose a different chart type (line, scatter, candlestick, etc.), and change or add indicators. This part is absolutely amazing and it gained most of our attention. We like to see offers that are completely custom-tailored and adjusted to each client.
Although we were a bit sceptical at the beginning, Iron-Bits surpassed our expectations and created a platform that is perfect for both professional traders and beginners. Most likely you won’t need any assistance, which is an excellent thing to see.
Account types offered at Iron-Bits
At Iron-Bits you have four different accounts at disposal. Each one of them can bring you different benefits and they all have some specific trading conditions. The main difference is definitely the minimum deposit requirement. The smallest one is €250, while the biggest one goes over €50,000. So, depending on the level of experience and your trading appetite, you can choose one account from the list.
The first one in the offer is called Silver account. It’s the perfect choice for everyone who is making their first Forex steps because it will help you familiarize with the market with a minimum deposit of €250. This is the most basic solution, therefore you cannot expect a lot of things. Each client will get a chance to trade with more than 200 assets and insight into market reviews and excellent leverage up to 1:100.
After the Silver one, you have an option to choose the Gold account. If you choose it, you have to deposit at least €10,000 or more, but in return, you will have some better conditions. For example, the leverage is up to 1:200, you will get a dedicated senior account manager, lucrative spreads (gold), bonus funds, risk management planning, monthly webinars, level three prioritized withdrawal process and special venture promotions.
The next one is a Platinum account and if you decide to start with this one, you can expect so many benefits. We have to say how surprised we were to see the offer. Minimum deposit requirement is €50,000+ which is not a lot compared to the conditions you get. The platinum account will give you the possibility to be advised by the senior account manager, to have platinum spreads and bonus funds, as well as trading signals, tier 2 trade room analysis, level two prioritized withdrawals and most importantly webinars on a weekly basis and private analyst sessions. This is an excellent offer and if you want our advice, go with this account.
The last option is VIP, but this is an invitation-only account. In other words, you need to be an Iron-Bits client and you will have the possibility to upgrade an existing account. It’s a simple process and the only thing you have to do is go to the Account Types page and press the “Become VIP” button. They will review your request and send you a notice about approval. Needless to say, being a VIP member gives you the possibility to enjoy every single benefit this broker has. You will have access to all lucrative VIP events, withdrawals will be instant, and you can access any webinar they organise.
The selection is excellent and this broker continues to amaze us. So far, we did not find a single negative thing, but let’s move on to deposits and withdrawals, to see if the process is fast enough.
Withdrawal and deposit methods at Iron-Bits
If you decide to open an account and start trading at Iron-Bits, the first thing you have to do is make a deposit. There are three different ways to do that, you can use Credit Cards, e-Wallet, and Wire Transfer. There are no deposit fees, so it’s just a personal preference which accounts you choose. The process is fast, you will be done within just a few steps and the money will be on your trading account instantly.
Withdrawals are also simple, you have to choose the same method you chose for deposits and make a request. Before the approval, you need to send some personal documents as part of the Identity Verification process and that’s it. The money will be on your account within seven business days (depending on the account you chose).
The process is fast and there are different funding methods available so we won’t waste any more of your time discussing this segment. This is a completely transparent broker and any detail about commissions or waiting time can be found on a website even before you open an account.
Does Iron-Bits offer any educational material?
If you are here to trade and learn as well, Iron-Bits is the right place for you. This broker is founded by professionals, so we expected to see different educational material. You should know that depending on the account, you will receive different eBooks or video lessons, which is more than fine. Each broker creates an education centre based on the level of experience and your existing knowledge.
But there is one thing that makes Iron-Bits different from the rest. It has a special part of education for every website visitor. So, even if you don’t have an account you can read their Basic Technical Analysis, Beginners Strategies and Advanced lessons. This is an excellent thing and we are happy to see this broker implemented it as part of their business.
Is the Iron-Bits support team helpful?
This is our favourite part and lets us tell you, many brokers fail this test. Proper customer support is a mandatory thing and that’s why we always reach out to the representatives to see if they will be helpful or not. This broker was not an exception, so we sent an email asking some details about the account types. Since we sent a message within the working hours, one of the representatives replied within half an hour and gave us one long explanation. After that, there was no need for additional questions which means they were more than helpful. So, if you run into any problem, you can count on their support, they will help you without a doubt.
Shall I trade with Iron-Bits?
We can end this Iron-Bits review saying only one thing — yes, you shall open an account and start trading with this broker. If you are looking for a good education and trading conditions, this will be the perfect place for you.