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Problem Cysec vs. IronFx

I am having an issue with a company
Looks like Hingary is also recommending complaints to the Cyprus Financial Ombudsman. That makes 2 governments asking victims to make complaints to one place. If IronFx owes you money, you NEED to complaint to the Cyprus Financial Ombudsman NOW.
 
When we will see the end of Cysec investigation on Ironfx ?
It seems a joke ! Deposit is deposit, it's very easy check if they give back or not, it's not like when they manipulate the platform that is more difficult to show proofs.
 
Regulators are slow. The best thing to do is keep feeding them as much info as possible so that the broker has no wiggle room to try to explain away bad behavior.
 
Yes sure slow for consumers…..

The settlement reached with IronFX, for the possible violations, is for the amount of
€335.000.
The Company has paid the amount of €335.000.
It is noted that the amounts due from settlement agreements are calculated as revenue
(income) to the Treasury of the Republic and are not calculated as an income for CySEC.

But apparently not so SLOW for the REPUBLIC......uppps:eek:
 
Yes sure slow for consumers…..

The settlement reached with IronFX, for the possible violations, is for the amount of
€335.000.
The Company has paid the amount of €335.000.
It is noted that the amounts due from settlement agreements are calculated as revenue
(income) to the Treasury of the Republic and are not calculated as an income for CySEC.

But apparently not so SLOW for the REPUBLIC......uppps:eek:

http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=f3b8aa80-6679-4efa-9ede-6cb53097e8d5

So they scam millions just to pay 335K ?? And what about people that they're waiting for their deposit ? And they still have the license and continue to operate ? This is scandalous !
 
How is this broker still running?
I just don't get it!! I'd rather give my money to a homeless person then try to trade it here.
 
That's the Cysec fine, which I agree is too small. It's also proof that IronFx's claim that the investigation was against traders and not against the company was a lie.

The Cyprus Financial Ombudsman still has power to force IronFx to repay money improperly taken from clients.
 
Sure, the FINE is a positive signal, showing the case had been investigated as invoking company’s responsibility.

Now, the power or willing of their Ombudsman’s services we will see, clients might also be redirected towards court action……….having a green light from the regulator, isn’t so bad either.

(legal interest rates + 5 %.......etc…….)

335 000 might be ok for the Republic, still need to pay the clients.....!
 
If someone lost a nice amount of savings at Ironfx, I don't think he cares about some money sent to Cyprus government. He just want his money ! I still consider a scandal this decision, at least they have to stop the license.
 
I call this decision a bull**** since traders did not get their money back and this piece of s**t broker is still allowed to exist! This is a also a warning that this regulator is really useless and it means nothing if a broker is regulated by it. I would rather put my money with a broker working under a strong regulation authority than this one!
 
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