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Problem IronFX – Falsely Accused Broker

I am having an issue with a company
DEAR IRONFX OFFICER;

I would like to remind you that:

IRONFX was fined by cysec for $ 335,000 for serious violations of the law, for illegally detaining customers' money!

THIS IS NOT DEFAMATION, but all the newspapers of the world publish

read the article and reflect:

atozforex.com/news/breaking-ironfx-to-pay-e335000-to-cysec/

Dear IRONFXSCAM,
Without identifying yourself as a client of the company, you continue posting repeated and baseless defamatory allegations.
From your conduct in the forum so far, it is evident that you are not genuine clients of the Company. You have chosen to keep your identity undisclosed by using nicknames and usernames with the sole purpose of engaging in defamatory comments, untrue and unfounded statements. The Company has repeatedly requested that you provide your particulars either via this forum or via e-mail to a dedicated email address, however, you have not done so to date in order to allow the Company to attend to any genuine query you may have.
We note that your continuous defamatory attempts are aimed at creating impressions, disgrace and damage to the Company’s reputation and goodwill. Such inappropriate conduct is not welcome by the Company and is against ethics and morals. Unless you have a genuine query, the Company does not intend to attend to any further unsubstantiated comments or statements.
For your latest attempt to defamate the company (or any other issues or repeated defamatory commentary or false allegations you want to post on the FPA site) please refer to the “IronFX – Falsely Accused Broker” thread: https://www.forexpeacearmy.com/community/threads/ironfx-falsely-accused-broker.54115/
Should you have any specific, factual complaint, we welcome you once again to identify yourself as a client of the company by providing the relevant details.
Will leave you latest barrage of defamatory postings to be judged by the community @BinaryLad and @AsstModerator in particular who have been following our posts and responses.
Thank you
 
My orders are expected?
Wait for what?
 

Attachments

  • skr23.02.18.jpg
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Dear IronFx representative,

The undisputed facts are:

1.You have suffered a sharp decline in turnover and clients after refusing to return clients’ funds in a widespread and systemic manner. You never had 1 million clients: all Cypriot brokers together have 1,200,000 clients (CySEC report), the largest ones being XM and FxPro.

2.The idea of not returning clients’ funds by invoking “Abusive trading criteria” based on assumptions, without any evidence, was an idea of your jailed lawyers.
It was not an idea of sales people, because sales people know the huge impact of bad reputation on volumes and revenues.
(Instead of paying lawyers, you should pay your clients, it would come cheaper)

3.You are not FCA regulated and therefore you are not object of FCA supervision. You have a subsidiary which is FCA regulated, but this company has not a full license and no meaningful operation. As for the ASIC regulation, it only applies to a small subsidiary and the ASIC forced you to correct the disclosure.

4.There are a lot of judgments against you and please expect that they are made public. Let’s begin with a decision of the Financial Ombudsman, forcing you to return the funds of a clients which you had illegally withheld for 2 years

5.At least 2500 complaints were filed to the Financial Ombudsman against you. This is a huge number.

6.The investment with Nukkleus failed due to lack of regulatory approval. And the current investment by a Singapore company is still subject to regulatory approval (AML check pursuant to Art. 13 MiFID II)

7.A shortage of 176 million in clients’ money was confirmed by a public Cypriot authority. The General Auditor Report was not modified or retracted and is still a public document.
(BTW: Complaining to the General Auditor was a brilliant idea of your landlord)

8.The Petition before the EU Parliament has not failed at all, but is still open and there will be a new hearing. We expect the ESMA hitting you and/or the whole Cypriot forex industry the hard way : read the statement.

9.Retail traders are consumers: here the Decision of a Hungarian court of appeal and the Decision of Cyprus Consumer Protection Service.

10.The fine of 335.000 which you settled with the CySEC was almost the highest fine which is possible under the current legislation ($ 350.000).
But this legislation is to be changed in order to implement MiFID 2. The fines foreseen by Art. 70 MiFID 2 are at least € 5.000.000 or twice the benefit derived from the infringement.
(A fine of 352 million would be adequate in your case)

The fraudulent basis of the company business is evident if you carefully read thisdecision of the Financial Ombudsman of Cyprus.

The client had deposited a certain amount with IronFx in 2015. After reading negative reviews, he decided not to trade with this company and requested the funds to be returned.

He never traded. Nonetheless, he was accused of “abusive trading activities”.

He complained to the company, to the CySEC, to the Financial Ombudsman, to the CySEC, to the ESMA and to the EU Parliament.

You have to know that Cyprus Financial Ombudsman did not process any complaints until early 2017. It was possibly forced to process complaints by the European Securities and Markets Authority ESMA.

The Financial Ombudsman received additional information from IronFx only on 19/09/2017 (2 years after the complaint).

After that, the Financial Ombudsman issued the decision. The client was fully reimbursed ca. 2 months after the decision.

No penalty was imposed on IronFx for illegally withholding this clients’ money for more than 2 years.
 
Last edited by a moderator:
Dear MB (name hidden to protect confidentiality),

Thank you for your comments, none of which is factually correct.

You chose not to disclose critical information in this public forum in order to create false and defamatory allegations.

The facts are as follows: you chose to refer your case to the FOS on 4th of February 2016 and a decision was issued AGAINST you on 31st of October 2017. Below you can find a copy of the said decision which is self-explanatory.

Please state the correct facts and full facts when making allegations against the company

For any further information please refer to post #1 of this thread.

We consider this false allegation now closed.

I am just an observer here, but I see the person didn't reply yet so I will state the obvious below.

The attached file shows that Financial Ombudsman of Cyprus basically said they can't look at the complaint because it wasn't filed on time. IronFx says a "decision was issued AGAINST you on 31st of October 2017" that is not true at all and Financial Ombudsman says "Financial Ombudsman does not have jurisdiction to issue a decision for your complaint" this is very different than deciding against the client.
 
If your are not a scam why don’t you return my money?In 2014 I deposited 10000 euros in Iron fx but never used that money so you can allege abusive trading criteria. On the 7th of December of 2016 I ordered the withdrawal and never got my money back. My withdrawal order is still processing. I spoke to my account manager and other people in Madrid office but never obtained an explanation. They told me they couldn’t do anything for me. Nobody answers my emails or complaints. My name is Carlos R. and my account number is 21032693
 
Dear IronFx representative,

The undisputed facts are:

1.You have suffered a sharp decline in turnover and clients after refusing to return clients’ funds in a widespread and systemic manner. You never had 1 million clients: all Cypriot brokers together have 1,200,000 clients (CySEC report), the largest ones being XM and FxPro.

2.The idea of not returning clients’ funds by invoking “Abusive trading criteria” based on assumptions, without any evidence, was an idea of your jailed lawyers.
It was not an idea of sales people, because sales people know the huge impact of bad reputation on volumes and revenues.
(Instead of paying lawyers, you should pay your clients, it would come cheaper)

3.You are not FCA regulated and therefore you are not object of FCA supervision. You have a subsidiary which is FCA regulated, but this company has not a full license and no meaningful operation. As for the ASIC regulation, it only applies to a small subsidiary and the ASIC forced you to correct the disclosure.

4.There are a lot of judgments against you and please expect that they are made public. Let’s begin with a decision of the Financial Ombudsman, forcing you to return the funds of a clients which you had illegally withheld for 2 years

5.At least 2500 complaints were filed to the Financial Ombudsman against you. This is a huge number.

6.The investment with Nukkleus failed due to lack of regulatory approval. And the current investment by a Singapore company is still subject to regulatory approval (AML check pursuant to Art. 13 MiFID II)

7.A shortage of 176 million in clients’ money was confirmed by a public Cypriot authority. The General Auditor Report was not modified or retracted and is still a public document.
(BTW: Complaining to the General Auditor was a brilliant idea of your landlord)

8.The Petition before the EU Parliament has not failed at all, but is still open and there will be a new hearing. We expect the ESMA hitting you and/or the whole Cypriot forex industry the hard way : read the statement.

9.Retail traders are consumers: here the Decision of a Hungarian court of appeal and the Decision of Cyprus Consumer Protection Service.

10.The fine of 335.000 which you settled with the CySEC was almost the highest fine which is possible under the current legislation ($ 350.000).
But this legislation is to be changed in order to implement MiFID 2. The fines foreseen by Art. 70 MiFID 2 are at least € 5.000.000 or twice the benefit derived from the infringement.
(A fine of 352 million would be adequate in your case)

The fraudulent basis of the company business is evident if you carefully read thisdecision of the Financial Ombudsman of Cyprus.

The client had deposited a certain amount with IronFx in 2015. After reading negative reviews, he decided not to trade with this company and requested the funds to be returned.

He never traded. Nonetheless, he was accused of “abusive trading activities”.

He complained to the company, to the CySEC, to the Financial Ombudsman, to the CySEC, to the ESMA and to the EU Parliament.

You have to know that Cyprus Financial Ombudsman did not process any complaints until early 2017. It was possibly forced to process complaints by the European Securities and Markets Authority ESMA.

The Financial Ombudsman received additional information from IronFx only on 19/09/2017 (2 years after the complaint).

After that, the Financial Ombudsman issued the decision. The client was fully reimbursed ca. 2 months after the decision.

No penalty was imposed on IronFx for illegally withholding this clients’ money for more than 2 years.

Dear IRONFXSCAM,
Without identifying yourself as a client of the company, you continue posting repeated and baseless defamatory allegations.
From your conduct in the forum so far, it is evident that you are not genuine clients of the Company. You have chosen to keep your identity undisclosed by using nicknames and usernames with the sole purpose of engaging in defamatory comments, untrue and unfounded statements. The Company has repeatedly requested that you provide your particulars either via this forum or via e-mail to a dedicated email address, however, you have not done so to date in order to allow the Company to attend to any genuine query you may have.
We note that your continuous defamatory attempts are aimed at creating impressions, disgrace and damage to the Company’s reputation and goodwill. Such inappropriate conduct is not welcome by the Company and is against ethics and morals. Unless you have a genuine query, the Company does not intend to attend to any further unsubstantiated comments or statements.
For your latest attempt to defamate the company (or any other issues or repeated defamatory commentary or false allegations you want to post on the FPA site) please refer post #1 to the “IronFX – Falsely Accused Broker” thread: https://www.forexpeacearmy.com/community/threads/ironfx-falsely-accused-broker.54115/
Should you have any specific, factual complaint, we welcome you once again to identify yourself as a client of the company by providing the relevant details.
Thank you
 
I am just an observer here, but I see the person didn't reply yet so I will state the obvious below.

The attached file shows that Financial Ombudsman of Cyprus basically said they can't look at the complaint because it wasn't filed on time. IronFx says a "decision was issued AGAINST you on 31st of October 2017" that is not true at all and Financial Ombudsman says "Financial Ombudsman does not have jurisdiction to issue a decision for your complaint" this is very different than deciding against the client.

Dear chitak,
Thank you for your comment.
If you have any specific query, please identify yourself as a client of the company.
For your comment above, please note that the company abides with the relevant FOS procedures at all times. Should you have any specific procedural questions, you can refer those directly to the FOS Office.
Thank you
 
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