IronFx : Whistleblower corner

Derda.Bernadett

Private
Messages
19

Dear IronFX!


My Name is Bernadett Derda from Hungary. IronFX account no. 24001171, 24032519,


My accounts are disabled by IronFX:
View attachment 38161


In this way, IronFX withholding my initial deposit.


IronFX, please enable my accounts (24001171, 24032519)!

Let me know!


Best Regards
Derda Bernadett from Europe
 

IronFX Officer

IronFx Representative
Messages
380
Dear IronFx Officer,
did you miss that your company is so insolvent that it could not file audited financial statements for 2016 and was fined by the CySEC on December 2017 for that ? You find the decision on the CySEC website:
https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=8f06e007-f9d4-482e-b3af-07fb1afef7cd
Dear IRONFXSCAM,

Thank you for your message.

If the company was insolvent it wouldn’t meet the Capital Adequacy ratios and it would have its licence revoked.

On the contrary, the company is well capitalised in all its regulated entities (FCA, ASIC, FSCA, CYSEC, FSA) and in its 8 years of operations has never breached any Capital Adequacy ratios.

The fine relates to a small filing oversight and is reflected by the €2,000 levied.

Please let us know if you need any further clarifications.
 

oscarra

2nd Lieutenant
Messages
1,157
Dear IronFx Officer,
did you miss that your company is so insolvent that it could not file audited financial statements for 2016 and was fined by the CySEC on December 2017 for that ? You find the decision on the CySEC website:
https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=8f06e007-f9d4-482e-b3af-07fb1afef7cd
For sure the accountants run away, very risky job :D
Well at least 8SAFE Uk filled their 2017 accounts in time
https://beta.companieshouse.gov.uk/company/08111366/filing-history

anyway, most important, Bernadette must get her fund back, which had been simply stolen by IronFX, this has absolutely nothing to do with whatever FOS decisions
 

IronFX Officer

IronFx Representative
Messages
380
For sure the accountants run away, very risky job :D
Well at least 8SAFE Uk filled their 2017 accounts in time
https://beta.companieshouse.gov.uk/company/08111366/filing-history

anyway, most important, Bernadette must get her fund back, which had been simply stolen by IronFX, this has absolutely nothing to do with whatever FOS decisions
Dear oscarra,

Thank you for your message.

Also, thank you for confirming that the FCA Audited Accounts have been filed on time.

Regarding the Bernadette case, we repeat that this has been rejected by the FOS Service.

For further information, please refer to the IronFX – Falsely Accused Broker thread (http://www.forexpeacearmy.com/commu...lsely-accused-broker.54115/page-7#post-309181)

Happy to provide any further clarifications.
 

IronFX Officer

IronFx Representative
Messages
380
Better say it’s an accountant firm doing the audit, not the FCA
http://www.fsm.org.uk/

next, it’s kind of chilling to see clients deposits ending up booked as company cash, sure all supposed to be on segregated Bank accounts ruled by FCA ………o_O
Dear oscarra,

Thank you for your message.

We never indicated that the audit is performed by the FCA. We indicated that you confirmed that the FCA audited accounts were filed on time.

As you may know, the FCA requires daily reconciliations of client money and the money being held in segregated accounts.

The audited accounts are done yearly in accordance with FCA rules. This includes the way client cash are presented in the financial statements.

We are happy to answer any further questions you may have.

Thank you
 

IRONFXSCAM

Private
Messages
104
Unfortunately, IronFx will not pay you if you do not file a claim before court. If you live in the EU, as a consumer you can file a claim before court in your country. But if you are looking for a lawyer in Cyprus, we can recommend this one (he managed to force IronFx to pay the office rent):

SOFRONIS NEOKLEOUS


TEL:+357 25814054, FAX:+357 25814170

e - mail:s.neocleous@phclaw.eu

web site : www.phclaw.eu
 

oscarra

2nd Lieutenant
Messages
1,157
ah just a quick reminder…:rolleyes:

Judgment of the Consumer Court against a Cypriot company for an unfair term
From
24h.com.cy
-01/17/2018

The Consumer Protection Service announced an administrative decision against IronFX Global Ltd. for breach of the Unfair Terms of Consumption Law.
According to a statement from the PIO, the decision relates to an investigation conducted by the Director of the Service in connection with the existence of an unfair term in a brokerage contract of that company.
The Director, exercising the powers conferred on him by law, has decided that this term is contrary to the provisions of articles 5 (1), 5 (4) and 7 of the law and is therefore abusive and / or opaque.
This term relates, inter alia, to the right of the company, at its absolute discretion, to refuse, withhold or withdraw from the accounts of its clients the payment of a benefit / gain from stock exchange transactions which they have carried out, suspect that they have abused the terms of the contract or any other promotional action or have acted in bad faith without specifying what constitutes the abuse and / or the criteria under which the company exercises the above discretion in particular.


IronFX Global: Legally incorrect the content of the decision of the Ministry of Culture
From
24h.com.cy
-01/18/2018

IronFX Global believes that the content of the Consumer Protection Authority's (MLS) ruling on unfair terms in its brokerage contract is legally erroneous, inaccurate and defamatory in its entirety.
In a statement on this decision, IronFX reports that it has secured a wealth of legal advice from internationally recognized law firms demonstrating its full compliance with MiFID regulations.
"All reports, including the advice of a top British Counsel, confirm that the Company retains every legitimate right to do so in the event that its customers violate the terms and conditions of the relevant agreement," the statement said.
The Company has repeatedly explained its position at the Ministry of Finance, inviting its executives to a meeting at IronFX's offices in order to examine their own opinions.
However, he notes, despite the Company's appeals, no meeting was held.
The Company adds that it has informed the Ministry that it is licensed and supervised by the Cyprus Securities and Exchange Commission and that its services are governed by the regulatory framework for investment services.
"Therefore, the recipients of the services are not considered as" consumers "as defined in the Cypriot legislation under which the Ministry of the Interior issued this decision.
A similar case was dealt with by three different courts in Hungary, which ruled that the recipients of investment services are not considered to be "consumers" as defined in the relevant European legislation, "IronFX said.
He also explained to the Ministry of the Interior that the provision in question is not equivalent to "at will" as in cases of breaches affecting the Company's interests, the Company is entitled to carry out actions which are fair, necessary and in full compliance with the relevant legislation, as confirmed by the aforementioned legal opinions.
The Company also explained to the Ministry of Finance that the recipients of its services were included in the benefit plan, at their own will and desire.
Finally, he adds that "it is worthy of the fact that this decision is timely in relation to the factual or legal facts to which it refers, based on Article 10 of the Law of Administrative Law", noting that this decision is contrary to the to date, the policy and tactics of investment firms and may well be considered to be contrary to the principle of proportionality under Article 52 of that law.

Source: CNA http://24h.com.cy/?s=IRONFX
 
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