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IronFx.com Review

Overall Rating: SCAM
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Total Reviews: 193
Last Updated: 2016-06-21
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

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

luis, medellin, Colombia

Rating:
Date of Post:2016-03-12
Review: iron fx is a scam. they took from mi account all my money,i had 40000 usd in funds, they hide de movements that they done,and when i try to speak with them, they denied everythin. in fact they change of personal customer all the time. i need help.please. if some ona can help me i will bw so glad

Thomas, Wien, Austria

Rating:
Date of Post:2016-02-22
Review: My withrawal is pending for months. They owe me 9k!
As I know no reaction either from CYSEC nor from the financial ombudsman.
Watch this video and help others not to fall in this trap:

https://vimeo.com/156281942

Review Moderation Team Note: Please continue to file complaints with Cysec and the Cyprus Financial Ombudsman as well as the financial authorities in your country.

Thank you very much for the video link!



Robert , , USA

Rating:
Date of Post:2016-02-22
Review: Ironically, "Harsh" who is an analysis for IronFx also an analysis for Mentortips which has been reviewed as a scam as well. Criminals attract like minded individuals.

alberto, italy, Italy

Rating:
Date of Post:2016-02-13
Review: my withdrawal has pending since april 2015!!
Have you been waiting for your funds from IronFx for months? Time to report this to Action Fraud
http://actionfraud.police.uk/report_fraud
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MarkW, Cumbria, United Kingdom

Rating:
Date of Post:2016-02-12
Review: I first attempted to withdraw funds in June 2015 (approx $5k). I quickly discovered there were many other customers with the same problem.

In August 2015 I sent a written letter by recorded and tracked post to the UK and Cyprus offices. This requested the return of all funds (approx $25k) per the legal contract they had published. Neither the UK or Cyprus offices have responded to this request.

Shortly after I started chasing the UK office the company changed its name to 8Safe UK Limited. It then moved office to another London address that matches a Regus Office address (Regus provides serviced and virtual offices).

I have complained to the UK office (now known as 8Safe UK Ltd), the Cyprus office, the UK FCA, Cyprus CySEC, UK FOS, Cyprus Financial Ombudsman, ESMA, and UK ActionFraud.

The most surprising elements to the IronFX scandal is the following:

- IronFX appeared on Bloomberg giving the impression they were a respectable firm,
- a UK Government Minister opened the London office,
- the Cyprus Prime Minister opened the Cyprus office,
- none of the regulators and ombudsman have been effective since Jan 2015 when the problems first started,
- if you look at the first reviews here, you can see that problems started in 2012.

On 19 January 2016 I received an email from IronFX stating "no abusive trading activity has been detected". There are only a few trades on my account, it would take a few minutes to confirm this. Yet I have not received any funds to this date.

The financial media remain silent except for those that basically publish IronFX press releases without any significant criticism.

If you search Twitter you can see customers posting their screenshots of withdrawal requests, statements from regulators that have taken action, images mocking the abusive behaviour of IronFX.

Customers are located globally. IronFX claimed to have Account Managers that could speak 46 languages, this was useful when taking customers money, yet when complaining (trying to withdraw funds) the company states this must be done in English (see the complaints procedures and legal documents).

If ForexPeaceArmy moderators need evidence of the above I can submit it.

David Thomas Rees, London, United Kingdom

Rating:
Date of Post:2016-02-12
Review: I requested a withdrawal of funds from my IronFX account on 03/12/2015. After speaking with some else that had used them and it had taken 4 months for him to withdraw the funds from his account.
I rang IronFX after my withdrawal was made, i struggled to speak to 'My Account Manager' whatever his title is, a guy called Boria Gomez. He told me after months of Cysec investigation, it would likely be January 16 you get your money back. It's now 12th Feb 16. I haven't received any acknowledgement other than an official email from them stating i was under investigation for 'abusive trading activity'. After i tried to make an official complaint.
It's obvious, there's something very who with the company if i cannot return funds back to clients.
Still waiting for £6270.52 over 2 months after the withdrawal request.
Reported to FCA, CYSEC and the Ombudsman of Cyprus. I'm currently slamming them whenever i get the chance on Facebook and Twitter and posting links to this page to get normal potential victims like us ti stay away.

Mervin, Malaysia, Malaysia

Rating:
Date of Post:2016-01-27
Review: Withdrawal pending since June 2015. Kept changing account manager. Minimum 5 times already. Just 1 week ago, me too received an email regarding an investigation stating about abusing trading activities, which is absurd and without evidence. Often chat with their live support which also could not help much where they will ask you to contact your account manager which in turn your account manager will not reply to you most of the time.

Kamran, Karachi, Pakistan

Rating:
Date of Post:2016-01-21
Review: One new development their so called investigation department declared me an abusive trader. I got their email and pasting the same here:
"On 19 January 2016 at 21:36, Investigations [IronFX Global] wrote:
Dear Kamran Shahid,

Following the Company's investigation for the accounts held with the Company and registered under the e-mail address kamran.shahid2000@gmail.com, you are hereby informed that it has been established that an abusive trading activity has occurred on certain of those accounts and you are in breach of the terms and conditions relating to one or more promotions made available to those accounts.

This is the Company's final response. The Company reserves the right to take all actions necessary in relation to the aforementioned abusive trading activity.

Kind regards,

Instead pay me back of my money they declared me abusive trader, things are clear they are not in a mood to pay me back.


2016-01-03 1 Star Very bad experience with Iron forex. They are not paying back my deposit of $500. I did request for withdrawal on 21st September 2015, neither they contact me nor released my money.
I request FPA to use their influance and help me get back my hard earned money.
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