Iron-Bits-Overview of Minimum Deposit, Spreads & Leverage

General Information

Iron-Bits is advertised as a forward-thinking Britain brokerage firm founded in 2015, providing 4 account types, flexible leverage, competitive spreads on over 200 tradable assets, as well as quality 24×5 online trading services to an ever-increasing range of clients — retail and institutional.

Market Instruments

Iron-Bits advertises that it offers more than 200 trading instruments, which include forex, crypto, stocks, commodities, indices.

Account Types

Iron-Bits provides its clients with four different account types to choose from, namely Silver, Gold, Platinum and VIP. The minimum initial deposit to open a Silver account is €250. As for the rest of the account types, for the Gold and the Platinum, the minimum deposit requirement is €10,000 and €50,000 separately, while there is no further information for the only invited VIP Account.

Leverage

The maximum leverage ratio is completely influenced by accounts types you are holding. The maximum leverage of the Silver acoount is up to 100:1, while the Gold account is 200:1, the Platinum account is 300:1 and the VIP account is as high as 400:1. Attention that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Different account types enjoy different spreads. For example, the traders holding the Gold accounts will enjoy Gold Spreads, while the Platinum accounts enjoy Platinum Spreads and the VIP accounts enjoy VIP Spreads.

Trading Platform Available

Compared with most other brokers who support MetaTrader4 and MetaTrader5, Iron-Bits only gives a web-based trading platform. As it advertises, you can log in to your account and trade on any device that has an internet connection.

Deposit & Withdrawal

Iron-Bits accepts deposit via credit cards (Mastercard, Visa), E-Wallet (APM, EFT) and Wire Transfer. You can withdraw from your account by using the same method you deposited money: credit card or a wire transfer. The minimum deposit amount is 250 USD / GBP/ EUR, yet this broker , at its sole discretion, may require a minimum amount to deposit and may change the minimum from time to time. The maximum deposit amount depends on the deposit method. For credit card and e-wallets, the maximum deposit amount varies; for wire transfer, it is unlimited. The minimum withdrawal amount is $100. The withdrawal fees are rather high – 1% with a minimum of 30 EUR/USD/GBP and a maximum of 300 EUR/USD/GBP.

Inactivity Fees

Iron-Bits official site shows that there is no registration fee. However, it requires the dormant account fee. The trading account that has not been used for 30 consecutive days will be charged a monthly fee of 99 EUR/USD/GBP.

Customer Support

You can contact Iron-Bits via an email: Support@iron-bits.com or by the phone: +61894683553 (Australia), +441184640593 (United Kingdom) in its “Contact us” page. However, this broker doesnt provide any more direct contact information like company address while most brokers offer.