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Overall Rating: SCAM
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Total Reviews: 162
Last Updated: 2015-10-11
Special Notes:

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.



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. 



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. ;) 

Other websites of this company include

Click here to join live discussion of on our forum
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 If you've traded forex with this broker, please leave a review here.

Jerry, Warsaw, Poland

Date of Post:2015-10-10
Review: Me and my friend were investing at IronFX for one year time. We have realized on MAY2015 that IronFX is a gang of terrible scammers !!! We were calling them, sending many e-mails. But they did not executed our request withdrawals.

Afterwards, we decided to hire a professional debt collector. And after 5 weeks they helped us to recover our money back. There are print screens , as a proof of our story:

These people are able to help to recover money from IronFX !!! Good luck to all of you guys.

Martin B, , Argentina

Date of Post:2015-10-07
Review: Update. It's been nearly 7 months now and I'm still unable to withdraw my money from IronFX.

2015-05-13 1 Star (Two months update). It's been two months and situation is still the same. I haven't received my money, withdrawal was not processed.

2015-04-29 1 Star Follow up to my case. After 20 more days situation is still the same. They are not processing my withdrawal. The only thing I received from them is an email threatening with legal blah blah for having posted here... It would be easier for them if they just returned fund to clients, I don't really like posting against any broker, I prefer to use my time for something more useful.

2015-04-08 1 Star I submitted a withdrawal request on March 16. After almost a month the withdrawal of usd 3,468.48 hasn't been processed. I contacted my account manager (Allison Ubillus Chang) several times asking for the money and she always gives me different excuses. As they are out of excuses, now she's not even responding my skype messages, or taking days out of the office, etc. Backoffice email is not responding either. On the website chat, they say that everything is fine and they will let back office know about my withdrawal to speed thing up.. that's a complete lie...

I just want to make it clear that I didn't get any bonus, I didn't make any money with IronFx.... in fact I only lost money (around 11k in the last year) and they don't even want to give me what is left on the account.

2015-03-16 WBTM03F3IANLBH4B Withdrawal – Bank 3,468.48

Nikita, Zhytomyr, Ukraine

Date of Post:2015-10-06
Review: About my situation.
Today (06.10.15) I returned the money back.
Yesterday, I wrote a letter directly to the Finance department IronFX ([email protected]).
Text of the letter:
"Hello. My name is Nikita. Account #14010145
I want to know because of what problem you delay the withdrawal of funds?
I can't withdraw my fund from 28.08.15.
Tomorrow, I will submit an official complaint to Financial Ombudsman of the Republic of Cyprus. "

And I am really have prepared an official complaint and want to sent it today. But today, in the first half of the day, I got a call from my manager, who told me, that my withdrawal request approved. "Very well that you have addressed personally".
And it was true
After that money returned on WebMoney in 2 hours.

So, write directly to the finance department ([email protected]) Perhaps I was lucky, but do not lose hope.
I wish you all to withdraw money back.

nshevche, Zhytomyr, Ukraine

Date of Post:2015-09-22
Review: About my situation:
CySEC - no answer.
ESMA - official answer: "ESMA is not directly in charge of supervising IronFX and does not investigate complaints about individual financial market participants such as IronFX for which it is not the direct supervisor unless it appears that national supervisory authorities have not applied Union law correctly.
You may wish to consider bringing your complaint to the attention of CySEC, who is the national competent authority responsible for the regulation of IronFX."
financialombudsman - sent me a complaint form and official answer: "The Complaint Form can be submitted by e-mail and must be accompanied by a receipt of payment of the fee of twenty euro (€20).

2015-09-11 1Star IronFX - is scam. My account number is 14010145. And I can't withdraw my money back. I filed a withdrawal request 28.08.15, and it is still in process. My manager turned on silent mode, support answer: "We have a lot of applications, please wait you turn".
My first request: "14010145 2015-08-28 WWF5FTC332NTSSUI Withdrawal - Webmoney 494.30 USD canceled." My manager told me, that IronFX do not withdraw on WebMoney to Ukraine and ask me do it on Skrill or Neteller.
Next request: "14010145 2015-09-01 WM4SN599G1NTZU3U Withdrawal – MoneyBookers 493.31 USD Waiting for Processing"
I saved all talks with support, made all screenshots and I will file a complaint to CySEC (on, to [email protected] and to
If someone will progress with the withdrawal of funds, please let us know.
P.S. The petition on was signed.

Andrea Sorcinelli, Cagliari, Italy

Date of Post:2015-09-13
Review: It's from March they don't withdraw. I think my 2000 Euro deposited there are lost

David, Barcelona, Spain

Date of Post:2015-09-07
Review: I'm from Spain and now it's nearly one month that I'm waiting for my money. I asked those of customer service in the chat and they told me that I don't have to worry because I just have to be patient, others told me that I must speak with my manager who can authorize it but incredibly he always was unavailable. When finally I could speak to him he told me that now that they're investigated by CYSEC they have to treat the withrawal orders manually and for this reason it take a lot of time to process it. I think that he could find a lie more serious than this because I don't think there could be someone in this earth who can believe this.
Now, I will write to all responsibles of Ironfx that I can find in their web and if I still receive this kind of answers I will write to the CYSEC.

fxjockey, Budapest, Hungary

Date of Post:2015-09-01
Review: I have been trading with IronFX for a year now. I did a withdrawal request late last Monday, 24rth August 2015.

As of today, 1st September 2015, it's technically the 6th business day. They keep telling me, it takes upto 10 business days :-(

I got the following message which my account manager forwarded to me.

"Thank you very much for your inquiry!
Currently we are processing all withdrawal requests with a queuing system.
The reason of the delay with processing your request is because we identified a group of traders who are misused our promotions and acted against our T&C.
Because of this breach we started an investigation on all our clients accounts prior of processing any request. Your withdrawal request though is expected to be processed in due course.
From our side we will do our best to speed up the process.
Thank you for your patience and understanding.
Best regards,”

The above doesn't look very promising. I haven't accepted any bonuses for my account.
The withdrawal amount is roughly 1000$ to my credit card, the same way I have deposited the sum.
At this point, I can only wait for 10 business days, i suppose :-(

I am slowly loosing hope. Looks like a ponzi pyramid scheme, where they are either waiting for new client money to pay old client's money (OR) they are short of cash altogether and delaying bankruptcy.

I think, something really went wrong here. In the past, I have even withdrawn upto 5000$ at one go. That was as recent as 15th of Oct 2014.

I know, all of you are eager to know the outcome of every case. I will keep you all posted.

ling, indonesia, Indonesia

Date of Post:2015-08-10
Review: Dear Friends

There is no chance to get our withdrawal from Ironfx

The only way to get our withdrawal is Cysec suspend Ironfx license or Ironfx insolvency.

and we can claim our withdrawal from client compensation fund together

Please sign this petition to stop Ironfx crime.
This petition is to be sent to Cysec to suspend Ironfx license

2015-07-17 1Star Please be aware that the only possibility we have at the moment
(Cyprus court is closed till September) is to attract the attention of
big and important media.
So let's post the truth on Twitter under the
hashtag #IronFx.
All depends on the number of messages that are
If a lot of messages are posted, #IronFx will become a popular
Economic newspapers (or football newspapers) will possibly
begin to be interested in the IronFx story.
For this reason I consider
Twitter a best medium to attack Ironfx

2015-07-09 1Star Dear friends
ESMA (European Securities and Markets Authority) is taking action against ironfx financial crime in EU. Cyprus is part of EU
ESMA requested all ironfx victims email to [email protected] with evidences of non payment and already complaint to Cysec but Cysec no help, no action.
Also please give consent to ESMA your personal data will be used for investigation purposes

below is letter from ESMA

title: Breach of Union Law investigation procedure (ESMA/BS/2012/87rev)

We refer to your email of 25 June 2015 and your two emails of 28 June 2015. We have attached those three emails to this email.

In order to progress with the review of the complaints made in those emails, we would like to obtain consent to disclosure of the information, including personal data, contained in those emails. In particular we are referring to the disclosure of the information to other authorities who are competent to handle the complaints, including particularly the Cyprus Securities and Exchange Commission (CySEC).

Therefore, please confirm that you give your consent to the disclosure of the information, including personal data relating to you, within those emails.

Also, in order for us to disclose information to competent authorities including CySEC regarding the individual Iron FX investors referred to in the attached email correspondence, we ask for the consent of the individuals referred to in those emails. Therefore please respond to us with documentation from those individuals which unambiguously confirms their consent to disclosure. Such documentation can be an email from each of those individuals or a letter from those individuals. Where an individual wishes to give consent, the individual should simply state that he/she consents to the disclosure of information, including their personal data, to competent authorities including CySEC.

Please note that in cases where we do not receive consent to disclosure in an individual case, it may not be possible to progress with that particular case.

Yours sincerely,

Legal, Cooperation and Convergence Unit

European Securities and Markets Authority (ESMA)

103, rue de Grenelle, 75007 Paris – France

Together. please send email to ESMA right now
it is
[email protected]

With title: breach of union law investigation procedure (ESMA/BS/2012/87rev)

2015-06-26 No Rating 4 months since February 2015. A large number of complaints against ironfx non payment
Large number of complaints landed to CySEC and cyprus Financial Ombudsman
What has regulator done to protect investor?
Is cysec protecting the ironfx scam and not protecting investor?
Public and investor must consider, is it save to invest in any Cysec broker?
ironfx victims please join us

Abed, , Jordan

Date of Post:2015-08-06
Review: Beware from dealing with IronFx , they are not paying any withdraw , i have a IB commission not processed for 20 days i send many emails and through live chat asking for the withdarw the only answer i get in the que this crap answer a poor argument
The company policy so arrogant they dont replay to emails and phone calls nither funding department ot support
in teh Live chat ther hide there names only support operator with no name of the agent
dont trade fund or deposit with Iron Fx
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