Nowadays, so many brokers want to become the first choice for clients. Competitive offers, attractive bonuses, and many other things are on the table and traders have difficult choices. Well, our reviews are here to help and today I am going to inspect everything about Iron-Bits, a well-known broker with a secure trading environment.
Quality of service
Iron-Bits will greet you with a well-designed landing page that contains some of the most important information about trading. The whole website is excellent, optimised, and responsive. I have to say, the first impression of the service is excellent, and we can move on to more important things, such as the Trading Platform.
A web-based trading platform is a place where you will be spending the majority of the time if you become an Iron-Bits client. It’s a refreshment to switch from MetaTrader to this unique platform and I am even more satisfied after I saw how simple it is. Don’t get me wrong, the platform is full of details and you won’t miss a single thing. Its simplicity reflects the ease of use. No matter if you are a beginner or a pro, you won’t have a hard time trying to manage it.
Visually, it is divided into three parts which help with navigation a lot. The first part (on the left) contains all details about the account. Trade option includes all assets, Positions, and Closed Positions come next and the fourth button is Deposit one. After that, you can press on Funds to see your balance or withdraw money. Account State and Settings come next and Support is the final touch. As you can see, there is nothing to be added here. Every important feature can be found and yet, they managed to keep the simple design.
The middle of the platform is reserved for tradable assets. They are divided into categories and you can choose to see all of them on the list or select the ones that interest you the most (Forex, Commodities, Crypto, Stocks, and Indices). The best thing of all is that you can customize that even more. If you wish to see assets listed alphabetically, there is an option to choose that. Or even by trend or daily change. Since this broker mentioned that customers are in the first place, I am starting to believe that is really the case. Everything is subordinated to the client’s personal preferences.
The third part of the platform is a graphic of one asset you choose. As expected, you can customize it completely and choose the chart type (line, ohlc, spline, scatter), chart interval (from one minute to one month), chart indicators, etc. Also, this is the part that shows trading hours of specific assets, leverage, maximum trading size, and margin (both maintenance and initial).
I have to say, this part bought me completely. I love to see creative and unique ideas that work well and that’s exactly what we got at Iron-Bits. So, ten points for the platform without a flinch of hesitation.
Apparently, the platform is worth your time, but let’s see if the offer of Accounts is nearly good. To be client-oriented, brokers have to make personalized services. That includes different Account types that will fit each trading appetite.
At Iron-Bits, we have four accounts at disposal. This means that the minimum deposit varies from 250 EUR up to 50,000+ EUR which is great. It’s up to you to decide how much money you are willing to invest.
The first account is Silver, and this is the one that requires the least investments (from 250 EUR). You will be able to trade with more than 200 assets, see market reviews, and enjoy the up to 1:100 leverage.
This account is perfect for Forex beginners, but if you already have some experience, I assume your trading appetites are slightly bigger. In that case, there is a Gold account. The minimum deposit is 10,000 EUR and there are many more possibilities. For example, dedicated senior account manager, bonus funds, lucrative spreads, leverage up to 200, financial planning, and many other things. So, if you decide to go with this account, visit their Account Type page to see every detail.
The third account is Platinum and you have to deposit 50,000+ EUR if you go with that one. Of course, so many things are in the game if you become a Platinum member. You will get trading signals, weekly webinars, private analyst sessions, and level two of prioritized withdrawals. Basically, you will have someone to guide you through the whole trading process.
Lastly, there is a VIP account. This is an invitation-only and when you go to the Account Types page there is a special button for those who want to become VIP members. The things you get with this account are amazing. Complete access to webinars, lucrative VIP events, special promotions, VIP spreads, excellent leverage, etc.
It’s not hard to conclude this Iron-Bits review is heading in the most positive direction. All those things I saw are flawless and the service quality is at the ultimate level.
Speed of response
Customer support is an important part of every business, not just Forex. If you become someone’s client, the least you deserve is to have the attention you need. So, if a problem occurs, customer representatives should help you instantly. That said, let’s see if Iron-Bits fulfills my expectations about this segment of the business.
The Contact Us page is part of the main menu and inside you will find all information about operating hours and departments. Each client has four different methods at disposal, and you can choose depending on the time you have. For example, if you are in a rush simply type an email and someone will reach out to you. If you want a fast reply, Live Chat is the best option. And if you have a little bit of free time, you can call and talk with their representatives.
You can also submit a question directly on the website. There is an excellent form and you can choose Customer Support Service, Trading Platform Assistance, General Feedback, and Complaint. If you select the right department, it will speed up the process and you will receive an answer much faster.
To make this Iron-Bits review complete, I tested out the Live Chat options to see if the representatives are responsive enough. Well, they indeed are. I sent a message and one of the agents welcomed me. We discussed it for some time, and they replied to all my questions.
To sum up my impressions, the speed of response is excellent as well as a variety of contact methods. Also, the politeness of customer representatives is an additional plus that leaves an even better impression.
When it comes to transaction speed, deposits are instant. Of course, things are different for withdrawals and the first step of every process is Identity Verification. So, the best thing you can do is to check the KYC Policy and prepare the required documents.
Once your account is verified, the process of withdrawal will last from seven to ten business days. That is an average time, but keep in mind that each account comes with a different level of prioritization, which means you will wait significantly less if you go with a Platinum than a Silver account.
Since Iron-Bits is a transparent broker, you don’t have to worry about hidden fees. Every commission is listed on the website. When you go to Withdrawal, Refund & Cancellation Policy there is a separate paragraph about withdrawal fees. It is 1% per each withdrawal and the minimum you need to pay is 30 EUR/USD/GBP, while the maximum fee is 300 EUR/USD/GBP.
There is also a Dormant account fee and this one is common among brokers. If you do not use the account for 30 days in a row, 99 EUR/USD/GBP will be deducted from your account automatically.
I expected to see those fees since every broker has them. If you want to avoid negative surprises, check the Terms and Conditions page before you open an account, everything is listed there.
Regulation can be very important if we realize there are questionable things about a specific broker. In this case, the offer is excellent and there is nothing suspicious. So, a license is not something that should worry you.
Variety of Payment Methods
As a payment method, you can use Credit Card, Bank Wire, or Bitcoin Transfers. This is a nice selection and keeps in mind that you can make a choice when you deposit. After that, it has to be the same method for withdrawals.
There is an option to use multiple credit cards for deposit and in that case, you will receive equal amounts of money on each card when you withdraw funds. In case of any profits, the difference will be transferred via Bank Wire.
To finish this Iron-Bits review, I will tell you only one thing. This is a fully legitimate broker that offers excellent trading conditions. If you are looking for a new place for trading, this broker is the perfect one.