Advertisements Review MT4 - MetaTrader Platform

Overall Rating: (2.562)
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Total Reviews: 85
Last Updated: 2015-01-25
Special Notes:

The FPA has repeatedly requested to communicate with the CEO of IronFx regarding the unethical behavior of employees of the company.  Two 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

These incidents began in November 2012.  The most recent was in February of 2014.


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?


There is an FPA Traders Court guilty verdict against IronFx.   The FPA considers this to be one more reason to beware of this company.



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 - 1   reviews REVIEWS submit review
ID Filed Case Verdict
2014-185 2014-11-20 GUILTY

Rahat Hussain, MLTN, Pakistan

Date of Post:2014-12-02
Review: I had an account like 4 months back, i made a profit of 800 dollars on depositing 500, the manager i had called me when i made a withdrawal request he told me that he believe that i have use fraudulent mean to made this much of profit, i asked him to check the history atleast, profit was not earned from single item or by single trade, upon that he didnt reply for some seconds and told me that they will check my account and anything against be will result in account been blocked and all profit being removed, after 2 days they didnt reply, after a week i called him again and asked whats the matter he said they are investigating, i wrote to their customer support and asked about matter they told me they have not heard about this, they went to manager and somehow i got my withdrawal, i must tell you, i have never seen such unprofessional, stupid, lairs, dont trade with them.

Hamza Najam, Lahore, Pakistan

Date of Post:2014-11-29
Review: I heard alot of good stuff about ironfx but i must tell everyone not to trust them now, they were fine had not problem in past, i was working with them from around 2 years and was satisfied but recently they have started betraying they says they have 100% bonus promotion but when i went to chat after depositing they told me that the chosen promotion is just for selected countries although there is no terms and conditions available on site, they just want deposit they doesnt really want to have business with up, STAND UP AGAINST THEM, they are discriminating, lets stand against them and shows we are forex and forex brokers need us... bye ironfx you are nothing but a scam for me from now

Sergio, , Spain

Rating: Escalated to FPA Trader's Court
Details: Sergio80 vs | Guilty
Date of Post:2014-11-20
Review: After opening 2 accounts with them i can confirm that if you want to take profit of your savings instead of putting your money at this bróker better go to a casino.

They took all the profit i made in one of the account saying i was doing arbitrage (a big lie) and in the other one they filled an order 24 pips under the real mínimum of the candle ending in big losses.

Please stay away from them.


The Watcher, London, United Kingdom

Rating: No Rating
Date of Post:2014-11-06
Review: IronFX grilled on Chinese TV by affiliates criminal fraud investigation-filed on air - see:

Intakhab Khan, lahore, Pakistan

Date of Post:2014-11-05
Review: Ironfx is fraud broker .its big scam with me. Its 200 auto trade in my account without my any permission .I am not trade in my account for week .but when i open my account after 2 week ironfx 200 trade in my account in just 5 mint .I lose my 900$ no help me from ironfx back office and support staf .

Ali Khan, Rawalpindi, Pakistan

Date of Post:2014-10-14
Review: This is absolutely a scam broker, orders are not fulfilled in time and the specific rates.Their representative 'Kaushik" is really a stupid person who always try to make people fool.

Lorenz V., , Germany

Date of Post:2014-09-23
Review: I have been trading with IronFX since the 11. June 2014 on their fixed spread account with "instant execution" mode. It´s important to know that "instant execution" mode gives them the possibility to requote or reject the trade completely. Since this time I have been making good profits (with high risk) with a mixture of a modified version of the Million Dollar Pips EA (which trades price-spikes) and some manual straddle trades during news and I´ve also been trading the Scottish independence referendum last week. With those trading methods and using a high risk exposure for each trade, I was able to make a great profit of several hundred percent during these 3 months (about 500%), though I also had a longer lasting drawdown for around the last month before making profit again during the Scottish independence referendum.

Right after making profits after the Scottish independence referendum, I received the following email on the 19. September 2014:

"Dear Client,

Please be informed that your account (20017857) is under investigation on suspicion of abusing our Trading Terms and Conditions, and in particular of trading with lagging prices.

We are in the process of initiating an investigation and we will inform you of the outcome the soonest.


Dealing Desk

t +357 25027222 | e [email protected]

IronFX Global Limited
t +357 25027000 | f +357 25027001 | w"

After emailing them back right away and explaining them my trading methods (as you can see above), I have been ignored by them - no reply to my emails. I also requested a withdrawal of my complete account 140,98 Euro on the 19. September 2014, since it was clear to me whatever the outcome of their "investigation" is, I don´t want to continue trading with this unhonest broker. Of course I did not receive the withdrawal and all my emails to them have gone unanswered.

On the 23. September 2014 I received the following email from them:

Dear Client,

After conducting an investigation on the trading activity of your account, we have reached to the below conclusion:

Account 20017857 was trading on lagging prices on various currency pairs, particularly on rapid price movements, with the purpose of benefiting from pricing arbitrage and therefore riskless profit.

We took a step further to verify the above by comparing our pricing with another major FX provider. For this purpose we chose Dukascopy Bank because they provide tick prices per second historical data.

Please find a tick price comparison with Dukascopy Swiss Bank available at:

Historical Data Feed :: Dukascopy Bank SA | Swiss Forex Bank | ECN Broker | Managed accounts | Swiss FX trading platform

Also excel file attached; note that time is GMT.

Trading logs of account 20017857:

2014.09.19 05:33:56.495 '20017857': instant sell 0.10 GBPUSD. at 1.64844 sl: 0.00000 tp: 0.00000

Dukascopy Pricing

Ask price
Bid price

19.09.2014 02:33:56.544

Trading logs of account 20017857:

2014.09.19 05:53:34.000 '20017857': instant buy 0.10 GBPUSD. at 1.64811 sl: 0.00000 tp: 0.00000

Dukascopy Pricing

Ask price
Bid price

19.09.2014 02:53:34.050

As it can clearly be observed, there is a large deviation between the opening price offered by IronFX and Dukascopy Bank.

This comes as a violation of our Trading Terms and Conditions to which the Client has to comply with before opening an account with the Company.

At this point we would like to draw your attention to Paragraph 6.29 and 24.4 of the Trading Terms and Conditions:

“6.29 In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug-ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to activate any clause under section 24, including clause 24.4”

“24.4 The Company may terminate the Agreement immediately without giving five (5) business days written notice, and the Company has the right to reverse and/or cancel all previous transactions on a Client’s account, in the following cases:

a) The Client involves the Company directly or indirectly in any type of fraud, in which it places the Company’s as well as other Company’s clients interests at risk prior to terminating the Agreement.

b) The Company has grounds to believe that the Client’s trading activity affects in any manner the reliability and/or smooth operation and/or orderly of the Company’s Trading Platform.”

Please note that such incidents are inevitable when trading over the internet due to latency or various other factors and can take place with any broker. Certain clients are aware of this and try to fraudulently exploit such riskless profit taking opportunities by developing certain software or by other means.

For this purpose:

a. We run regular reporting to identify such incidents.

b. We have alerts in place that trigger upon the detection of price disparities or in the event of trade rejections from our liquidity providers

c. We specifically provide for such cases in our trading terms and conditions and in particular section 6.29 & 24.4 above

Considering the above and the findings provided by the Trading Department, IronFX has decided NOT to pursue legal actions against you, but instead to proceed as per below with immediate effect:

· Reverse positions that were generated as a result of execution under lagging/wrong prices

Best Regards,

Dealing Desk

t +357 25027222 | e [email protected]

IronFX Global Limited
t +357 25027000 | f +357 25027001 | w"

Afterwards I look at my account and they´ve simply set it to 0 balance, removing the complete account balance - and that even though I did just made 20 Euro profit during the Scottish independence referendum and deposited 100 Euro the day before via Skrill. They also just referenced the 2 trades listed above, the rest of the trades was simply concluded to be "illegal" too without further explanation - all of the trades I ever did in the account according to them.

Now this is a completely fraudulent behavior to me. First off: I thought I am trading with IronFX, not Dukascopy, yet they say Dukascopy is the final reference for the prices your trade was executed on, which means that for any trade you do: if the price at Dukascopy was a different one at the time you traded at IronFX, they have the right to remove your profits! What this means is a very easy option for them to basically reverse ANY trade they want, telling you that the price at Dukascopy was different compared to the price they offered you and voila, your profits are gone as per their terms and conditions.

Secondly it means that they admit that their feed is of bad quality and that they reference a better broker for the final conclusion if you trades with IronFX have been legal. This opens the doors to really remove any trade they want. You also have to remember that the account I have been trading on has "instant execution" mode, which means they could simply have requoted me instead to accept the trades.

This is a completely fraudulent behavior from IronFX. I will be informing all of their regulators too so that they see how this brokerage is operating and will also open a FPA court case right away.

Winston, Metro Manila, Philippines

Rating: No Rating
Date of Post:2014-09-17
Review: Seems to be some kind of problem with their MT4 system, affiliate program and account funding in China!


Rating: No Rating
Date of Post:2014-08-16

dongle, Johor, Malaysia

Rating: No Rating
Date of Post:2014-08-05
Review: Placed a withdrawal request on 1/8, confirmation received on 2/8, and I receive the fund today. I withdrew all my fund, meaning no more business with them, but still they honored my request.
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