IronFX
Questions & Answers

It’s not a prop firm, it’s a well-established cfd broker. Obviously, they would allow everything, unless you don’t use any market manipulations and software weaknesses. But algo trading and new trading can’t belong to this category, especially when the broker offers metatrader, a famous platform for algo trading too. As for hedging, I think it’s better to talk with their support. Usually, brokers are not against it in adequate amounts. Not like you open 10 orders, 5 for sell, 5 for buy. I guess this would be too much

It’s not a magic pill that you use to become a better trader. In my case, only experience and practice, under valuable advice from experts. What made this particular academy to shine, is an opportunity to communicate with real prop traders. Sure, you need to have a good deposit for that, but I was ready for sacrifices. Credible information is what this industry lacks and you need to pay some price for that. Hopefully, it was a deposit, not a subscription lol. Few talks were enough to build an edge and choose the right direction. Then, I created my own trading strategy, inspired by TA from live webinars and since I made gradual steps to become a better trader. Not generating millions, but at least have positive P&L and consistency.

لو كان أحدهما أفضل بشكل مطلق، لاختاره الجميع، أليس كذلك؟ لهذا السبب يوفر الوسيط عدة أنواع من الحسابات بشروط مختلفة تناسب احتياجات المتداولين، لذلك لا يمكنك القول إن أحدها أفضل من الآخر. فالمتداولون الذين يفضلون فروقات سعرية منخفضة جدًا ويعرفون بالضبط ما يدفعونه، سيختارون حسابات ECN بعمولة، وأما المتداولون اليوميون أو من يفضلون البساطة، قد يفضلون حسابات بدون عمولة وبفروقات سعرية عائمة.

Ironfx is a perfect suit for scalpers and it’s well known among the “scalping” community because of the customised accounts they offer for this trading style. They exactly deliver what scalpers want: raw and tight spreads, lightning fast execution speed and rare slippages. You wanna check the RAW ECN account type, you will be surprised by the leverage offer. It usually is around 500x for ecn account with most brokers, but here you can press the gas up to 1000x

No, not really. But there may be some fees which people don't expect, but those are there. For example, if you don't trade for a year or so, you may be charged $50 inactivity fee. Because they spend some resources to maintain your accoutn all this time, so it's fair. Moreover, there may be 3% fee if you deposited the money and withdrew without trading. If you did it with bank tranfer, it would cover the fees for a broker.

It helped to understand that trading is all about experience and psychology. I didn’t need new knowledge or trading strategy, I needed some harsh trust… I was lucky to deposit exactly what is required (2k) for connecting the vip room and give a chance with real prop traders. It’s whole another thing when you talk with a pro. My eyes were wide open after a few dms. As for practical side of education, I learned some new strategies like smart money and even implement it to my trading routine. More confluences, more odds to win. But core value is of course talks with prop traders and reshaping my mindset.

Other alternatives include using MT4 on the desktop and also on your mobile phones... I suggest you to go with PC setup, bette for charting.

Honestly, I don’t trade usdjpy at all, but looking at it from the perspective of volatility, I think american session is more volatile than asia, so if you want to trade predictably, then asian session is for you, if you’re here to catch high market fluctuations, then american is best for you

Yeah, there were 7 options before the update, but now they cut account types to 4 choices. And I think Raw ECN is the best account right now, especially if you trade forex and want to avoid wide spreads. I personally don’t mind commissions for trades as long as IronFX supports narrow spreads even during major news.

Yep, it will definitely help you get better at trading, even though all their educational resources are free, this doesn’t change the fact that their lessons and insights are top-notch. Let alone their online webinars where I always take into consideration their trade ideas and the way how they explain all the trading subtleties.