Warrior Trading Blog

Ironbeam Broker Review 2018

Iron Beam review
  • Quality Rating
  • Cost
  • Reliability
  • Value for Traders
  • Customer Service
4.5

Summary

Iron Beam Broker is the premier platform for Futures Traders. The trading platform is relied on Java which means it is vulnerable to outside threats. The trading platform is targeted for advanced traders.

Iron Beam homepage

Ironbeam is an online futures brokerage company registered with the Commodity Futures Trading Commission. As a member of National Futures Association, Ironbeam is currently headquartered in Chicago, Illinois.

Committed to providing first class services to its customers, Ironbeam continuously updates it services to ensure customers get to fully utilize the latest technology, and research thus making profits when trading.

With a commitment to ethical business practices, Ironbeam experts are always monitoring markets and analyzing extensive data (fundamental and technical) to provide customers with the big picture.

In addition, the online futures brokerage company offers cutting-edge trading software allowing brokers not only to manage their client’s accounts and trades but also to win trades and make profits.

Ironbeam Features and Services

As said earlier, Ironbeam offers a wide array of technology, clearing and execution services designed to help traders and brokers get the most out of the markets. To get started with Ironbeam, you have to create an account. There are two options:

  • Online application
  • Download form

The first option “Online Application” requires you to fill the following data in the registration form which can be found under the menu item “Open an Account.” To start your application, enter the following details:

  • Email
  • Password

A welcome email will be sent to your Inbox. Open the email, click on the available link and activate your account. Additional information may be required to help build a clear profile of you. For instance, your name, address and the type of account you will be trading under.

If you select the second option “Download Forms”, you will have the chance to download various forms depending on the type of account you would like to open.

For instance, you can select to download

  • Individual Application
  • Joint Application
  • Sole proprietorship
  • Corporate application
  • Limited Liability Company Application
  • General or Limited Partnership Application
  • Trust or IRA Application

Once you have downloaded the appropriate form, print, read, sign, date and send it back to Ironbeam account representatives. If additional documents are required, contact support at Ironbeam and they should help you out.

Ironbeam Trading Platforms

As a Futures Brokerage company, Ironbeam provides access to a wide range of trading platforms including FireTip and IronBeam Online.

FireTip is built by Certigo and is designed for traders in search of high performance and reliability. The trading platform is full of features and hosts a wide array of tools designed for professional traders. Certigo incorporated numerous features to improve how traders access markets and trade.

Designed with an intuitive interface, Firetip is an easy to learn trading platform that comes with the following essential features.

  • Desktop, web and mobile applications – designed to work on all three platforms, traders have the opportunity of setting trades, managing and monitoring their accounts even when on the move.
  • Automated strategies – traders have the opportunity of saving custom order types and strategies. When trading, traders can deploy them when they wish
  • Native connectivity – with Direct Market Order Routing capability, Firetip ensures that traders get to enjoy seamless integration between the trade’s computer and the exchange
  • One click trading – traders have the opportunity of initiating and modifying orders with only a single click. As a result, they can enjoy high-speed trading which ensures they stay ahead of their competitors
  • Alerts – traders can set text or email alerts to be notified when a certain event occurs in the market. The alert system is customizable using the following parameters – fills, bid size and price actions.

Ironbeam Online is another trading platform offered by Ironbeam. As a web-based trading platform, Ironbeam first offered it to traders a decade ago. Since then, the team at Ironbeam has been perfecting the platform by incorporating feature rich tools to help traders profit.

Ironbeam provides a desktop version of its Ironbeam Online trading platform which can be downloaded, installed and run as a standalone application from the trader’s computer.

Some of the features that traders can enjoy include:

  • Charting
  • Live Quotes
  • Account history

Both trading platforms (Firetip and Ironbeam Online) have free demo versions where new traders can learn trading in a simulated environment.

Other trading platforms offered by Ironbeam include:

  • MultiCharts
  • PATSystems
  • TradingView
  • FuturesSource
  • eSignal
  • Rithmic
  • AgenaTrader
  • Sierra Chart Trading
  • MarketDelta
  • CTS Trading
  • QST Trading
  • CQG Trading

Ironbeam Solutions

Traders have access to the following solutions:

  • Introducing Broker – by choosing this service, brokers will have access to white labeled platforms, instant demo trading accounts and account applications for their clients. They can enjoy making real-time deposits and withdrawals, real-time margining, access to in-depth research, lead generation and digital marketing programs.
  • Institutional Trader – through this premium service, users can enjoy premium value-added services designed for bona fide hedgers, funds, CTAs and high volume traders. Ironbeam offers access to more than 20 global futures exchanges to help traders build healthy and wealthy portfolios.
  • Direct Market Access – Ironbeam also offers exchange proximity services plus all year round network monitoring and operations. In addition, users can enjoy low latency solutions for direct market access at less than 500 seconds. To help you trade better, Ironbeam provides expert consultation to help you improve your Direct Market Access solution.
  • Individual Traders – Ironbeam is dedicated to availing technology, tools, and support to individual traders designed to help improve how they trade. Traders can enjoy self-directed and algorithmic trading plus broker assisted and managed services.

Ironbeam Research and Futures Directions

Users at Ironbeam have access to market rich analysis and commentary designed to help improve their trading decisions. Each report provides insight into different markets and weekly examination in regards to emerging developments happening in major commodity markets around the world.

In addition, users can have access to a higher level of experience and review required to help traders keep up with the fast changes happening in the markets around the world.

Ironbeam research data and analysis is not only designed for the novice but for the experienced trader too. Since in-depth market analysis is a must have, Ironbeam experts provide research that helps to communicate difficult concepts in a clear manner in which professional traders are familiar with.

By relying on market commentary and analysis provided by Ironbeam experts, traders can understand the basic trades and even receive fresh trading ideas which are essential for developing the best trading decisions.

Ironbeam Managed Futures

These are alternative investment options designed to help traders and investors diversify their portfolios as well as minimize risks. Managed Futures is available to both individual and institutional traders.

As such, they can use the service if they lack the time to keep a constant eye on the markets and when they need to eliminate emotions involved when making smart trading decisions.

The service is made up of professional traders called Commodity Trading Advisors or CTAs. Before they offer any advice to investors, they are taken through a rigorous due diligence procedure.

Afterward, they must register with the Commodity Futures Trading Commission to ensure they adhere to certain ethics as money managers.

In addition, they undergo a deep background check conducted by the FBI and must provide audited disclosure documents to be checked by the National Futures Association.

By choosing Managed Futures, CTAs will manage your money using their discretionary method or trading system. As a result, they can help to build your portfolio by selecting and investing in long and short futures as well as option contracts.

Ironbeam Pricing

All demo accounts offered under Firetip and Ironbeam Online trading platforms are available for free. When you sign up for a free trial, you will enjoy 14 days of simulated trading where you have the opportunity of trying out any trading strategies.

Once you sign up for a demo account, $50,000 (fake money) will be made available to you to play around the trading simulator. When you select other trading platforms listed on Ironbeam, you will incur trading costs as charged by the respective broker.

When it comes to Managed Futures, pricing is made available to respective traders and investors when they make an inquiry via support –live chat, phone or email. What you ought to know is that Ironbeam has partnered with several advisors to ensure investors find the right CTA that will manage their money using their own discretionary method.

Final Thoughts

Ironbeam has been around for more than a decade and during this time; it has designed brokerage services that encompass clearing and execution solutions plus technology.

As a result, it has helped traders to seize trading opportunities by providing feature-rich trading platforms which have helped to minimize risks.

While compiling the Ironbeam review, we noted a few drawbacks. First, the Ironbeam Online trading platform has a desktop version which can be downloaded and run as a standalone application.

Problem is both versions rely on Java which leaves your computer to be vulnerable to outside threats. Secondly, Ironbeam does not offer any pricing list that details how much users will be charged for using their services such as Managed Futures, Trading Platforms, and Research.

Lastly, the Ironbeam Online and Firetip trading platforms are designed for professional traders and not beginners.

Overall, Ironbeam is a reputable online brokerage service committed to fulfilling all its client’s needs.

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