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IronFx.com Review MT4 - MetaTrader Platform

Overall Rating: (2.745)
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Total Reviews: 62
Last Updated: 2014-04-16
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 two occasions.

First IronFx Forums Spam Incident - 2012-11-12.   

Second IronFx Forums Spam Incident - 2013-05-24.

These 4 incidents are spread across 9 months from November 2012 until August 2013.

The links below show reports to StopForumSpam.com about IPs used by people with IronFx.com email addresses.  Some of the reports came from the FPA.  We don't know what websites made the other reports.

IP 82.102.123.90 - Cyprus

IP 180.175.170.133 - China.  

IP 180.175.161.95 - China.

IP 135.196.21.2 - UK.

 

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?

 

Other websites of this company include IronForex.com

Click here to join live discussion of IronFx.com on our forum
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Bell Peng, Taipei, Taiwan, Province of China

Rating:
Date of Post:2014-03-11
Review: I have been using IronFX platform for 7 months, I opened the account with London office

I am very happy with IronFX. The spread is lower than my previous broker and there is always different promotions.

I have never had problem with the withdrawals and I have referred a few friends to open the accounts already and they are statisfied with ironfx.

Rachel, , Philippines

Rating:
Date of Post:2014-03-02
Review: Ironfx sucks! they will debit your account! So be careful with linking your credit card and debit card to ironfx! You will have a hard time in getting your withdrawal!

Gabriel, Budapest, Hungary

Rating:
Date of Post:2014-02-02
Review: Hi everybody,
I trade since 6 years.
honestly, Iron is one of the slyest broker i've ever used.
they are glad when you open your account and deposit, but with the withdrawal they don't hurry.
send 5 requests, waited a week(!) without getting a answer.. i asked them on chat about the withdrawal, and just this way have could get the information that they need a printscreen about my skrill account, thereafter about my credit card... ok, sent it. waiting again days, my request till pending... asking again, and finally could got my money. they just dont send you any feedback for example a f*kin email to inform you about the withdrawal status, they just refuse it and wasting your time.
terrible!
otherwise, Iron Fx is not STP, or ECN as they say, they are full Market Maker.

they shine with dozens of regulations and bonuses they have, but what sense it makes if the company is an expensive swindler??!

big bonuses are the Fool's Gold, don't fall in Iron's trap guys!

Ramesh, India, India

Rating:
Date of Post:2013-11-01
Review: This the worst broker I ever saw in my trading career, creating so many hue and cry while withdrawing the money, they never admit their fault, although you get a personal account manager for what is his/her role if everytime he says its not possible, I had 261 usd profit on $300 account, now burnt by account intentionally, will never ever trade with this broker again, I have $13 balance remaining and I give it to Ironfx as donation for their bad services.

IronFX.com, Limassol, Cyprus

Rating: No Rating
Date of Post:2013-10-28
Review: First of all one must understand the expansion phase IronFX has. While recruiting over 50, 60 or 100 new employees, sometimes newbies want to go through the faster phase and start posting things before their training were over. Necessary steps have been taken on this subject and no IronFX employee since August is allowed to post any comment on any such forums. However, for a forum to claim the CEO of such a respected firm to come for an apology is over the boundaries.
We would suggest any trader to check it with the major regulators such as FCA, ASIC, CRFIN, CYSEC or FSP if there has been any fines against IronFX or just simply visiting one of IronFX Global offices before purely basing your expectations on any forum posts.

Review Moderation Team Note: Less than 3 months of no incidents after 9 months with 4 incidents does not leave the FPA feeling reassured that IronFx has successfully ended this sad history of unethical employee behavior

The FPA is very disappointed that the CEO of a respected firm isn't concerned enough to take a few moments to discuss the issue with us. The repeated patterns of unethical behavior by multiple employees over a time span of 9 months should be of grave concern to any CEO.

The FPA has to wonder whether the CEO of IronFx doesn't know about these incidents or doesn't care enough about these incidents to address them directly with the FPA.

We recommend that people look at IronFx's history of unethical employee behavior at the FPA and elsewhere before trusting any money to this company.

Jahirul Islam, Dhaka, Bangladesh

Rating:
Date of Post:2013-10-22
Review: I will request to IRONFX Employees, please dont declined clients withdraw request.I face lots of problem when i want to withdraw my money from your broker.This is really not fair.I want to withdraw my money anytime i want.If this is continue in your broker then in coming future you will face lots of problem.If this problem is fixed i will again come to deposit in broker.So, tell your Account manager to become more easy with the client.
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Kas, Bangkok, Thailand

Rating:
Date of Post:2013-10-12
Review: Hi.

I want to talk to Ironfx CEO.

Why I can not withdraw all my money from my account with moneybookers?

Your employee said my withdraw more than my deposit in same way, why not? I will have no problem if they do not accept me to do that before.

kevin White, London, United Kingdom

Rating:
Date of Post:2013-09-30
Review: Hi Chaps,

Client preservation is the most important aspect for regulators and regulators should close these guys down or request a change of management. The managers of IronFx are amateurs trying to play Big but instead hurting all their customers. IronFx’s, employees and managers are in breach with all ethical business practices of Mifid rules. CySec / FCA should really come down heavy on them.

All the offices they show on their site are Virtual Offices even the one in London.
My main concern here is the client preservation and as per my Compliance Function here in the UK, I strongly believe that regulators should issue a circular forbidding such unethical business behavior and also forbidding Fx Brokers to provide bonuses or high leverage products to their customers and not allowing employees to benefit from the loss of their customers.

Let me explain you why:

1) Some companies offer more than 500:1 leverage to their customers. As we all know leverage works against the client interest but in the favor of the broker if the broker is acting as a market maker which here in our case Iron Fx does. Customers should not use more than 100:1 that is already very high.
2) Bonuses are made to attract retail customers, novice to the Forex market. They do not know all the cons & pros of trading Fx but they are lured by the High bonuses offered by these brokers and thinking they can withdraw these funds but at the end they do not get the bonus and end up losing all funds and some regulators are flooded with complaints coming from traders at IronFx.
3) How come you can preserve you clients if you give them a 100% Deposit Bonus. This is just ridiculous and Regulators should wake up. We are not in casino environment and broker such as IronFx and many others are ruining the reputation of Fx and especially the reputation of CySec, FCA and many more. In the financial industry regulators should not allow Bonuses.


Where is the client preservation with IronFx since all the members are working against their customers? Same concerns about this broker are being raised on other forums as well.

I will publish next week a Full report on the benefits of High leverage products for brokers and the disadvantages for traders.

K. W.

S.D., Chambesy, Switzerland

Rating:
Date of Post:2013-09-23
Review: Nobody should work with this broker. They claim being STP but they are not!!!! I used to work for them as a sales and the deal was very easy. All Sales and Dealers take a percentage of the loss the customers make. We have the basic Salary and a percentage that motivates us to bring more customers and push them to loose by providing them wrong news. Its not because we have a clown talking on TV that the management is professional and ethical. So soon the Sh... will hit the Fan for them. Even the dealers receive an incentive so imagine the conflict of Interest here. Pushing the customers out so they can make more money.
Stay away from them, and I am happy to see that Forex Peace Army is not scared to confront one of its customer. This also show how Ethical Forex Peace army is.

Iron Fx is a SCAM, Full Market Maker.

Thank you for reading my review.

Wolfgang, HH, Germany

Rating:
Date of Post:2013-09-12
Review: I never had problems with funding and withdrawal. But I never received any statements of my trading. Only after I contacted the account manager ... but then he suddenly disapeared. I was contacted (by phone) by his follower, to whom i mentioned i still need some statements. He promised to email me that, aswell as his contact information.
I never got an email from him, neither a second call ....
Nor were my mails i sent to the general contact answered.

The spreads are also not the best.

About bonuses: I do not know, because I do think in any case this is a bad idea to use. With proper money/trade/risk management you do not need to leverage your deposit. If you do need to do so, most likely with your strategy is something wrong ... a private, personal way of seeing it ... make your own decision ...

As I said, never had problems with withdrawal, but as the customer support is really bad and basics do not work either i withdraw everything.
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