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IronFx.com Review

Overall Rating: SCAM
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Total Reviews: 191
Last Updated: 2016-05-17
Special Notes:

There is an impending class action lawsuit against IRONFX

 

The FPA has repeatedly requested to communicate with the CEO of IronFx regarding the unethical behavior of employees of the company.  Several employees who have been asked to put the FPA in touch with the CEO have refused to do so.

Readers of this review page should note the fake reviews left by IronFx employees pretending to be clients.  These are from "Dimitri, London, United Kingdom" on 2013-08-02 and "Eva Leine, Stuttgart, Germany on 2013-02-04".

IronFx employees have also spammed the FPA's forums on three occasions.

First IronFx Forums Spam Incident - 2012-11-12 

Second IronFx Forums Spam Incident - 2013-05-24

Third IronFx Forums Spam Incident - 2014-02-05

In January, 2015, someone posted an attack on a competing broker from inside the offices of IronFx.  See the review by "Jacob, Cyprus" dated 2015-01-21 below.

In June, 2015, someone claiming to be an IB from Egypt posted defending IronFx.  The post really came from inside of IronFx's offices in Cyprus.  See the review from "IB in IronFX" dated 2015-06-03 below.

These incidents began in November 2012.  The most recent was in June of 2015.

The FPA recommends AGAINST doing business with IronFx until the CEO steps in and convices company employees to stop acting in an unethical fashion.  If this is how employees follow simple forum and review site rules, can you trust them to follow rules about handling your money?

 

Feb 2015:  Multiple fake positive reviews submitted.

 

WITHDRAWAL PROBLEMS WARNINGFebruary 2015: The number of complaints about withdrawal issues against IronFx has escalated.  The FPA recommends all clients of IronFx test the withdrawal system immediately.

 

SCAM CONFIRMATION

March 2015:  There are now 4 FPA Traders Court Guilty verdicts against IronFx for failure to pay money owed to clients.  The FPA has no choice but to declare IronFx to be a Scam.  A formal FPA Scam Finding will be issued soon.

 

IronFx is hereby blacklisted by the Forex Peace Army.  The FPA recommends against depositing money with Iron Fx.  If you have an account with IronFx, the FPA recommends you try to withdraw your funds immediately. 

SCAM CONFIRMATION

 

August 6, 2015:  Cysec has announced an investigation AGAINST IronFx.  CLICK HERE to verify.  IronFx claims that the company asked Cysec to help them investigate cheating clients. ;)

August 10, 2015:  The Brazilian CVN has issued a warning against IronFx.  CLICK HERE to verify.

November 27, 2015:  Cysec has announced a €335,000 Euro fine against IronFx based on the investigation announced in August.  This proves that IronFx's claim that the investigation was against cheating clients was another lie told by the company.  CLICK HERE to verify.

 

Other websites of this company include IronForex.com

Click here to join live discussion of IronFx.com on our forum
   
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 4   reviews REVIEWS submit review
ID Filed Case Verdict
2015-036 2013-03-22 GUILTY
2015-032 2015-03-03 GUILTY
2015-030 2015-02-27 GUILTY
2015-028 2015-02-23 RESOLVED
2014-185 2014-11-20 GUILTY

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2011-04-14
Review: We haven't tried a forex trading account at IronForex.com. If you've traded forex with this broker, please leave a review here.

The FPA recommends watching this documentary about IronFx...




MIssV, , Germany

Rating:
Date of Post:2016-05-15
Review: The FB group "IronFx clients" has known that IronFx used an electronic screening of all clients' accounts in order to identify so called "abusive trading" patterns. If "abusive trading" patterns were detected by the electronic screening, withdrawal requests were denied.
The abusive trading patterns are described in a document that was submitted by IronFx to authorities and credit card firms in order to justify the long-term withholding of clients' money.
After having insight in this scandalous document, we found out that IronFx screened clients' accounts for trading patterns which were so generic, that most clients could be accused of irregular trading activities.
Among the features of abusive traders the document describes trading patterns which are usual among retail traders, such as always trading the same currency pair, or using a big portion of the available margin for holding a position, or requesting a withdrawal immediately after closing positions.
Being run under an IB who earned commissions higher than deposit was also sufficient to be labeled as "abusive trader".
Holding 2 or more accounts, which is also usual among retail traders, was another "abusive trading" pattern.
This very simple screening was used to blacklist clients' accounts and deny every withdrawal request, without any individual verification of the real trading activities and without any evidence. Clients were given no possibility to check this procedure.
We assume that the CySEC and other regulatory bodies have been informed about these methods since January 2015.
After a long investigation, the CySEC has possibly refused to legitimate the methods, because they don't mention abusive trading by clients in the decision of 27 November 2015.
But after the fine announced with the decision, the CySEC has not taken any further measure. and keep investigation results secret.
Read more here : http://www.devisen-traden.de/ironfx-criteria-for-abusive-trading-exposed/

2016-04-15 1StarI am posting for the group „IronFx clients“ on Facebook. We are trying to address politicians, since IronFx impunity is granted by Cyprus administration.
Please sign our Petition: http://bit.ly/1NtIaMe
Please complain to the European Commission: http://ec.europa.eu/atwork/applying-eu-law/make_a_complaint_en.htm. Some arguments for the complaint:
Cyprus authorities are not taking any serious measure against a MIFiD authorized investment firms named Ironfx Global Ltd. (IronFx), 4101 Limassol, 2, Iapetou Street / Agios Athanasios, CySEC license no. 125/10, which has been illegally withholding clients' funds of thousand clients from all Europe and all over the world since January 2015.
By not taking any measure, Cyprus is infringing several rules of the MiFID directive and of CY Law implementing the MiFID directive.
Cyprus is also infringing Directive 2013/11/EU about ADR entities. Cyprus ADR entity (Financial Ombudsman) have not processed any dispute against IronFx, even if some of them were filed over 10 months ago. Cyprus ADR entity is not independent and not transparent.
Cyprus is also infringing Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997, which prescribes that an investor compensation scheme must be provided by each EU member state. Cyprus Investor Compensation Fund for IFs’ Clients (ICF) is not properly funded and has not enough money to compensate investors. The ICF has never paid any compensation to investors of failed Cyprus investment firms.

2015-05-02 1Star
I am receiving messages from traders from all over the world whose withdrawal requests have been pending for 6 weeks till 3 months.
Some trader groups are organizing class actions with a lawyer based in Cyprus.
For concerted actions you can join our facebook group https://www.facebook.com/groups/1404743076509293/

On my website I had published a Petition against IronFx withdrawal policy (Stop abuse of clients money by IronFx).

The website was hacked and could not be displayed for some days. But now it is working again.

2015-04-04 1Star We request the CEO of IronFx to declare insolvency, if the company has such liquidity problems.
"procrastination of insolvency" is liable to prosecution in many european countries
Please join my Facebook group for damaged IronFx clients https://www.facebook.com/groups/1404743076509293/
for concerted actions

2015-03-26 1 Star I have sent a complaint to the FCA omdbusman
complaint.info@financial-ombudsman.org.uk

and to the CySEC
http://www.cysec.gov.cy/en-GB/complaints/cifs/

2015-03-25 1 Star Update March 25

Today I received this letter from IronFX
Dear Client,

With reference to our previous email, please note that our investigation for potential irregular trading activities in your account has not been finalized yet.

Upon completion of our investigation we will provide you with our findings.

Kind regards,
IronFX Global Limited

in response to my letter of March 24

Dear Sirs,

please process your enquiry in the due time and process my withdrawal immediately.

In the meantime I keep my readers informed about your activities.

www.devisen-traden.de/ironfx-massive-zahlungsverzoegerungen

2015-03-24 1 Star My withdrawal request is pending since March 9. On March 24 I received this mail

Dear Client,

We would like to inform you that your account is under investigation for potential irregular trading activities.

We will inform you of the progress of our investigation in due course.

Kind regards,

IronFX Global Limited

2015-03-16 2 Stars I am also experiencing withdrawal problems with IronFX. I opened an account, made e deposit and made a win. My withdrawal request is getting no answer

Csaba, Szeged, Hungary

Rating:
Date of Post:2016-05-03
Review: They made an investigation, and replied, no money to pay out. After several month, without any evidence.

Vuong, Viet nam, Viet Nam

Rating: No Rating
Date of Post:2016-04-28
Review: Scam. Scam. I can not withdraw my money.

fffffffffffffffffffffffffffffffffff

Andrey, Russia, Russian Federation

Rating:
Date of Post:2016-04-25
Review: It Is F ** ing scam. I left applications many times and have NEVER withdrawn my money! I wrote to FCA too there was no reaction! WITHOUT TWIRLING by these licenses, not CySEC, not FCA - all of them are swindlers and at a similar case of nonpayment undertake NOTHING! They don't monitor work of the broker, and act as cheap advertizing for brokers! Be careful

After similar cases I don't trust these regulators!

Andrea Sorcinelli, Cagliari, Italy

Rating:
Date of Post:2016-04-15
Review: Incredible that those kind of worst thieves bandits are still on line. It gives miscredit of all trading on line
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Serazul Haque, Rajshahi, Bangladesh

Rating:
Date of Post:2016-04-14
Review: Scam broker live chat ans
Indian Support 1
9:56 am
i can not help you in withraw.

Faru, , Saudi Arabia

Rating:
Date of Post:2016-04-07
Review: This broker is a pure scam and their customer support team is trained in a way to send the copied answers to all clients. Like: Sir your account is under investigation and you already got the final response from IRONFX.
This broker is a big question mark on Cyprus Authorities and i am sure that Investors will think 1000 times before opening an account with any broker regulated by Cyprus Exchange Commission.
My withdrawal requests are pending since months and no one from IRONFX is able to give a reply to my queries. All emails are unanswered.
My account manager had sent a message to me stating that he is leaving the company as he cannot handle that much pressure of clients asking for withdraw of their funds.
Hey guys i am not sure that when this company will be stopped by Cyprus Authorities. But my huge investment is struck with this fraud broker and i cannot see anyway to get the money back.

Luca Novello, Treviso, Italy

Rating:
Date of Post:2016-03-30
Review: IronFX is a scam broker. They have my money from may 2015. They robber me over 45000 euro!

huỳnh thị thu hà, châu đốc .angiang việtnam, Viet Nam

Rating: No Rating
Date of Post:2016-03-18
Review: My withdrawal request 1009.35 and $ 2389.30 has not been processed by #IronFx since 10/25/2015 và 22/062015
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