SpeedTrader or IronFX – which is better for UK traders 2024? Compare SpeedTrader and IronFX in this detailed breakdown of their platforms, features and fees.
SpeedTrader is an online stock broker based in New York. Founded in 1999, the brokerage provides direct access trading software to experienced stock traders, with over 25 routing options. The broker is authorized by FINRA and SIPC, providing robust client protection.
IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.
Pros
Access a range of US stocks, options, bonds and mutual funds, plus extended hours trading available from 4am to 8pm EST
Two powerful platforms with level 1 price data, live news streams, advanced charting and more
Heavily regulated in the US by FINRA, plus SIPC compensation coverage up to $500,000
Competitive fees at $0.0009 per share and $0.25 per options contract
Reliable 24/7 customer support via live chat, telephone and email
Multiple routing options
Short selling aids
Alongside MT4, the broker continues to offer several additional services, including copy trading, a VPS solution, and PAMM/MAM accounts
Fixed and floating spread accounts are available, making IronFX a good choice for both beginners and experienced traders
Traders get access to the popular Trading Central research tool, which offers automated AI analytics and 24/7 support
IronFX is an established firm and is regulated by several reputable bodies, including the CySEC, FCA and FSCA
The broker frequently offers trading competitions with cash prizes, as well as welcome bonuses for new clients
The IronFX Academy delivers some excellent educational tools for beginners through to advanced traders
Cons
Only US stocks available, with no forex, commodities or cryptos
Not suitable for beginners with a $30,000 minimum deposit
Mobile trading is limited to iPhone and iPad users
Demo account valid for 14 days only
$30 inactivity fee every quarter
$35 withdrawal fee
No APIs
It’s a shame that the broker doesn’t offer any additional software such as MT5 or TradingView to give experienced traders more choice
Commissions start from $13.50 per lot in the zero-spread accounts, nearly double the industry average
Compared to the leading brokers, IronFX offers a relatively small selection of share CFDs
Awards
Best Online Trading Platform (2019)
Best Broker of the Year (2019)
Most Trustworthy Forex Broker Global (2019)
Best Online Trading & Financial Services Company (2020)
Best Online Forex Trading Platform (2021)
International Online Currency Trading Platform of the Year (2021)
Most Outstanding Online Trading Partners Program (2022)
The TradeCopier service allows aspiring investors to copy the strategies of top traders in real-time. The tool is a great way for beginners to learn from more experienced investors, whilst strategy providers can earn performance fees.
Social Trading
No
Yes
Trade Signals
Yes
Yes
VPS Hosting
No
Yes
Tournaments
No
Yes
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Inactivity Fee
3%
Islamic Account
No
Yes
Account Currencies
USD
EUR
GBP
AUD
JPY
PLN
CZK
Commodities
Cocoa
Coffee
Copper
Corn
Cotton
Soybeans
Sugar
Oil
Wheat
Natural Gas
Gold
Silver
Platinum
Palladium
CFD
IronFX’s asset list of 300+ instruments covers forex, stocks, commodities and index CFDs. Maximum leverage from 1:30 to 1:1000 is available depending on account location. Traders can access superb technical analysis features, including 30 pre-integrated indicators and 9 charting time frames.
IronFX continues to offer a strong selection of 80 currency pairs. You can trade through the market-leading MT4 platform with a range of forex market research tools. That said, commission charges in the zero-spread accounts are high, starting from $13.50 per lot.
