IronFX and 8Safe - SCAM alert (paid per order of Cyprus Financial Ombudsman)

[MarkW]

I have been waiting since June 2015 for a withdrawal request from IronFX. The UK subsidiary of the Cyprus head office recently changed its name to 8SAFE UK LIMITED from IRONFX GLOBAL UK LIMITED.
When IronFX are asked about withdrawal delays they claim that it is due to "abusive traders". The transactions on my account are very simple, there is no way they can claim I am an "abusive trader" .
They have not directly accused me of this but they insinuate this in their statements to the press and in their communications to potential new clients/victims.
Even when IronFX are asked about the CySEC investigation they say it is due to abusive traders complaining to regulators.
I am really impressed that this website (ForexPeaceArmy) has captured complaints regarding withdrawals as early as 2012 (scroll down in the reviews section, click "show ALL" or "Next Page" and look at the first reviews for IronFX).

 

[Pharaoh]

IronFx's lie about the Cysec investigation is funny.

Now, all the traders who got ripped off need to complain to the Cyprus Financial Ombudsman.

 

[MarkW]

I have just submitted a long review (6am London/UK time on 13 Feb 2016). Please contact me if you need supporting evidence.

The UK subsidiary now has the name 8Safe UK Limited. Should I also submit a review for this "new" broker ? Or can the existing name be edited to IronFX (also known as 8Safe UK).

 

[Pharaoh]

Did they change websites or just list 8safe on the bottom of the IronFx page?

 

[techno29]

New service fxgiants.com

 

[techno29]

About IronFX financemagnates.com/forex/brokers/ironfx-claims-several-trademarks-including-fxgiants-and-optiontitans

 

[IronFX Officer]

I have just submitted a long review (6am London/UK time on 13 Feb 2016). Please contact me if you need supporting evidence.

The UK subsidiary now has the name 8Safe UK Limited. Should I also submit a review for this "new" broker ? Or can the existing name be edited to IronFX (also known as 8Safe UK).

Dear MarkW,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.

Thank you

 

[BinaryLad]

For all those scammed by this company please, please report them to the FCA as a scam on: https://www.fca.org.uk/consumers/report-scam-unauthorised-firm

Nothing will be done unless you do but the FCA will shut this down and investigate if enough people do this.

Loads of information at companies house including financial reports and more information on the complex web of companies involved with this scam: https://beta.companieshouse.gov.uk/company/08111366

Company financials (audited) show they have lots of assets so I don't see why you can't get your money back. They do move offices a lot.

Have a look at the "People" tab to see the individual's involved and their other business interests. Stefanos Andreas was previously employed by DBSwiss. Marcos Kashiouris is an officer of Tera Investments (various guises) but companies house states it's a property investment company so not sure if anything to do with TerraFX (notice the Tera vs. Terra). I couldn't find a link (addresses, etc.) but will keep looking. Lot of the officers and people with significant control are from Cyprus. Also some interesting businesses relating to Petros Economides (person of significant control in 8Safe).

 

[MarkW]

UPDATE: As requested by an FPA administrator, here is an update.

I am still waiting for IronFX to return my money. The Financial Ombudsman in Cyprus has investigated and concluded that IronFX should pay me over US$24000 (twenty four thousand US dollars). My first attempt to withdraw my money was in June 2016, we are approaching the 2 year anniversary!

Can the "IronFX Officer" please identify themselves by giving their real name so I can include this in my next update to officials in the UK and EU that are investigating the scandal. Fraud investigators do not accept evidence posted on social media and forex forums. You must submit evidence direct to them.

The transactions on my account are very simple. I have provided these to FPA administrators before.

Why is IronFX finding it so difficult to return client money back to its clients ?

 

[IronFX Officer]

UPDATE: As requested by an FPA administrator, here is an update.

I am still waiting for IronFX to return my money. The Financial Ombudsman in Cyprus has investigated and concluded that IronFX should pay me over US$24000 (twenty four thousand US dollars). My first attempt to withdraw my money was in June 2016, we are approaching the 2 year anniversary!

Can the "IronFX Officer" please identify themselves by giving their real name so I can include this in my next update to officials in the UK and EU that are investigating the scandal. Fraud investigators do not accept evidence posted on social media and forex forums. You must submit evidence direct to them.

The transactions on my account are very simple. I have provided these to FPA administrators before.

Why is IronFX finding it so difficult to return client money back to its clients ?

Dear MarkW,

Thank you for your posting.

You have chosen to use the FOS service, therefore your case had to follow the timelines of the FOS. We have no further comments in this respect.

We confirm that your case will be resolved shortly.

Thank you