IronFX Review

Scam!
1.429 · 228 REVIEWS

Notesco Limited

Updated: Sep 17, 2020 · IronFx.com  · Is this your company?

IronFx is a forex broker. Iron Fx offers the MT4 and MT4 WebTrader forex trading top platform. IronFx.com offers over 85 forex currency pairs, cfds, commodities, indices, futures, shares, gold, silver and oil for your personal investment and trading options.

IronFX
2019-12-13:  The British Columbia Securities Commission has issued an investor caution notice against Notesco Limited, dba IronFX.  The company is not registered to trade in, or advise on, securities or exchange contracts in BC. CLICK HERE to verify.
January 2018: The Cyprus branch of IronFx/FxGiants is now using the corporate name Notesco Financial Services.  CLICK HERE for more info.
December 22, 2017:  The Cyprus Consumer Protection Office has issued a decision against IronFx for an unfair contractual clause.  CLICK HERE to verify.  CLICK HERE for more info.
2017-03-23:  The CNV of Argentina has brought a legal case against IRON FX FINANCIAL SERVICES LIMITED, including Svetla Nakova, Marcos Kashiouris, and Demetris Kyriacou.  CLICK HERE and select the DENUNCIAS PENALES tab to confirm.
November 27, 2015:  Cysec has announced it will collect a 335,000 Euro settlement from 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.
August 10, 2015:  The Brazilian CVN has issued a warning against IronFx.  CLICK HERE to verify.
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.  The FPA is astonished that anyone at IronFx would have the nerve to make such an obviously false statement.
ASIC listing of other names used by IronFX.  These are ETX FINANCE GROUP PTY LTD, ETX CAPITAL PTY LTD. CLICK HERE to confirm.

 SCAM CONFIRMATION

March 2015:  There are now 4 FPA Traders Court Guilty votes against IronFx for failure to pay money owed to clients.  The FPA has no choice but to declare IronFx to be a Scam for its actions against its clients.

 

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

WITHDRAWAL PROBLEMS WARNING:  February 2015: The number of complaints about withdrawal issues against IronFx has escalated.  The FPA recommends all clients of IronFx test the withdrawal system immediately.
Feb 2015:  Multiple fake positive reviews submitted.

2012-2015:  The FPA has repeatedly requested to communicate with the CEO of IronFx regarding the unethical behavior of employees of the company.  Many employees claimed they could stop this behavior.  All failed.  Each of them was asked to put the FPA in touch with the CEO.  Based on what happened over time, the FPA believes the CEO is aware of the unethical behavior of his employees, but does not care to do anything about it.

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 convinces 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, IronFx.com.bm, FxGiants.co.uk, FxGiants.com.bm, FxLift.com, FxLift.eu, and ZorroTrade.com



 Need more info?
Read and Ask HERE.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $100
Established: 2010
Address: Bermuda
Contact: support@ironfx.com, +44(0) 203 282 7777
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (85+)
Cryptocurrencies:
CFD: (5+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
PAMM: Yes
Deposit Methods:
Withdrawal Methods:

Live discussion

Join live discussion of IronFx.com on our forum

Go to forums

IronFx.com profile provided by IronFX Officer, Oct 27, 2017

IronFX is the award-winning Global Leader in Online Trading, with 10 trading platforms and over 200 tradable instruments in forex, spot metals, futures, shares, spot indices, and commodities. IronFX serves retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America while providing support in over 30 different languages.

IronFX clients can benefit from round-the-clock coverage delivered by one of the world’s largest and most accomplished global client coverage teams. The IronFX customer-centric model offers top trading functionalities through its platforms combined with the widest suite of products at the best pricing and execution. Daily market news feed and insightful research give clients access to the best information and data to make informed trading decisions.

lronFX Group complies with international regulatory standards and different entities in the group are authorised and regulated by the FCA (UK), ASIC (Australia), FSB (South Africa) and CySEC (Cyprus).

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Scam!
1.429 · 228 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

POLAND, Poland,
Sep 16, 2020,
Registered user

IRONFX VEL NOTESCO LTD TOOK MY EARNED MONEY

Service use: Live

Length of use: over 1 Year

ESCAPE THIS COMPANY, because if you earn something, they will take it away. I have had this case twice. I started with my $ 30,000 and went on to earn well over $ 100,000. Then, at the moment of major movements with EURUSD, Iron set up trading in such a way (I suspect a short-term change in leverage) that suddenly there was no funds and they closed my account in an instant. PAY AS ONLY YOU WILL EARN SOMETHING OR OTHERWISE YOU WILL LOSE EVERYTHING NOT THROUGH YOUR FAILURE. The case was dealt with by specialized lawyers from Bermuda.
The last of these situations follows
On 27-07-2020 at 16:43 I was deprived of all funds from my IronFx account number 13109448 and leverage 1: 1000. All my EURUSD deals were closed at 1.17616 within 3 seconds. There was no such price at this hour. There was a maximum price of 1.17575. Earlier at 3:10 PM the price was above 1.17616, and I had around $ 40,000 in free funds at the time and kept checking my account by opening opposite BUY positions which significantly inhibited the loss of free funds.
At 4:43 pm with around $ 30,000 in free funds, all of a sudden all positions closed at 1,17616, which was not there at the time. This price didn't come until 5:33 PM.
That's how it is possible to close all my orders at one time, suddenly. I have been trading in IronFx for about 8 years, having full confidence in the IronFx Company and this happened to me, but it was followed by closing orders, but never at the same time all orders were closed at the same time. Friends of traders say that the reason is probably a short-term change of the lever to a much lower one, and then a return to the leverage 1: 1000
Let me mention that the trade was not dynamic at that time, but the increase in the EURUSD price was very slow. In the simulator, with my starting amount of $ 117,000 at 20:00, the current profit was $ 46,615. I had a large reserve of funds, and for some unknown reason my account crashed. Attached screen.
I believe it was impossible to suddenly close my account due to my mistake.
In the meantime, I asked for an analysis of the resulting situation in people dealing with trading.
All three people agree that the reason lies in the lever that was briefly changed at 4:43 pm.
None of the competent persons at IRONFX VEL NOTESCO LTD responded to my complaint showing my error.
MORE DETAILS AND SCREENS ARE AT::
https://www.forexpeacearmy.com/community/threads/ironfx-vel-notesco-ltd-especially-earned-money-escape-this-company.67068/

More. Community discussion of this issue >>

 
Sydney, Australia,
Sep 14, 2020,
Registered user

Looks Like a Scam

Service use: Live

Length of use: 0-3 Months

I have reported ironfx and Notesco to ASIC with comprehensive information. From what i can find Notesco is no longer in Australia and any phone numbers I can find are disconnected. They still have an AFSL license number when you look up the ASIC website.When you go to ironfx.com/au it tells you their AFSL license number and a phone number which is disconnected. When you log in it takes you to ironfx.com which does not tell you an AFSL license number, but it says the company is based in Bermuda. Why ASIC has not cancelled their license yet is puzzling but I think it is just a matter of time.
  2 traders have found this review helpful
Cali, Colombia,
Jul 28, 2020,
Registered user

Almost two months waiting for Withdraw from Ironfx

Service use: Live

Length of use: 0-3 Months

I decided to close my Ironfx account, I asked to withdraw since 11 June 2020, but I didn't have any answer from them.
I have been waiting for my money and to close the Ironfx account since 11. June 2020 (1 month).

More. Community discussion of this issue >>

  2 traders have found this review helpful
Trader,
Yorkshire, United Kingdom,
Jun 23, 2020,
Guest

Terrible service,not recommended at all

Service use: Live

Length of use: 0-3 Months

my experience with ironfx has been atrocious. As soon as I put my money into this brokerage, I found it hard to find ways of withdrawing. I started seeing bad reviews of people with a plethora of reasons as to why joining this brokerage is a pitfall. Several of them complaining about how ironfx wont allow them to take out their profits. After much research and lost confidence, I decided to withdraw my money. Low and behold I experienced those same difficulties I read online. Over 3 months later and I'm still trying to get my money back
  1 trader has found this review helpful
Sopot, Poland,
Jun 4, 2020,
Registered user

legal money stealing! - no help from CySEC and Cyprus Ombudsman

Service use: Live

Length of use: 6-12 Months

IronFx is processing my withdrawals for more then a year now. They wrote me: "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."

More. Community discussion of this issue >>

  1 trader has found this review helpful
Niedertaufkirchen, Germany,
May 18, 2020,
Registered user

IRONFX bad experiences

Service use: Live

In 2018 Mr. Prato of Ironfx has called and promised profits: On 08.03.2019 at 17:47 Christian Prato wrote:
> sure 30% profit per week
> 50% bonus good money
I doubt it. It then called Mr. Seiler: Hello Mr. Kurz,

I'm the Sascha Seiler, have talked last night, I'm a senior broker on CFD for 16 years.

I have completed undergraduate degrees in Harvard for Finance Economics, Master and DR in Oxford for Finance, I apply for 12 licenses as a FINANCIAL BROKER and manage a portfolio of 131 clients. We are reachable under: 00441613941947.
The bank details where you make the transfer will only be found on your Ironfx account as soon as you want to transfer.
on March 21st, 2019 250 € were deposited on IRONFX. A supervisor never got in touch. In April 2019 I saw that the money in the online account was getting less and less until there was nothing left. I had protested emails and messages on the live chat and I was always told that I would get a message. but i got no message and there was no call back. when I call by phone, it is constantly busy. I can't reach anyone. I claim my money back and receive no answer and no refund.

More. Community discussion of this issue >>

  1 trader has found this review helpful
Greece, Greece,
Apr 28, 2020,
Registered user

IRONFX is scam and does not process withdraw requests for many years now

Service use: Live

Length of use: over 1 Year

I start trading with ironfx back in 2015 in march 2016 i made the first withdraw request an was declined , again in March 2017 I did a second withdraw request and one of the account managers named George Kantziouris call me and gave me a bonus with my consent after that, I receive an e-mail from the complaints department that have consider my 2016 complaint resolved because i didn't took the appropriate actions.
Since then I had my 2017 withdraw request pending.
This is a common financial crime company that operates for years now under the tolerance of regulators and government.
The amount of corruption in Cyprus is unprecedented and its shame that this is a EU country.
  1 trader has found this review helpful
Braganca pta, Brazil,
Jan 28, 2020,
Registered user

IRON FX IS A SCAM

Service use: Other

Length of use: over 1 Year

They are holding my money even after the Cyprus Financial Ombudsman final decision in my favor on april 2019.The ombudsman said that Iron Fx should not by any circumstances withold withdrawal of capital and should reimburse my money.
They don't obey any laws!! Don't ever trade with them!!

More. Community discussion of this issue >>

  1 trader has found this review helpful
Karachi, Pakistan,
Dec 13, 2019,
Registered user

SCAM

Service use: Live

Length of use: 3-6 Months

ironfx a complete scam broker. After deposit's, first your account manager will say he has left and joined another broker, and when you try to withdraw they don't approve. They will not reply to your emails and when you will try to talk to online support and tell them the issue, they will tell you, your request is in queue and then they will disconnect the chat.

Since 2015 I have been trying to withdraw my money but all in vain.

HIGHLY NOT RECOMMENDED.
  1 trader has found this review helpful
Paris, France,
Aug 23, 2019,
Registered user

THIEVES !!!

Service use: Live

Length of use: 3-6 Months

Already had problems in the past with this broker and now it's happening again trades are closed by themselves and I lose money when I didn't ask for anything! I ask for explanations, it's unacceptable!!!!!
  1 trader has found this review helpful
James,
Harvey, Spain,
Jul 12, 2019,
Guest

Better than all these reviews are claiming

Service use: Live

Length of use: 3-6 Months

Regularly withdraw from my account and can say they’re comfortably the best broker I’ve used. Reviews on here some quite old
 
Tokyo, Japan,
Jun 30, 2019,
Registered user

The most terrible and awful customer service I've experienced!!!

Service use: Live

Length of use: Have not used

I tried to open a live account but I haven't been able to open the account for a week due to their website issue and poor customer service quality.
To make matters worse, the customer service "Japan Support" doesn't have any good Japanese language skill how to explain their advice politely and always answer in rude expressions, which makes me feel disgusted very much.
I also sent a message in the English language but they ignored my message.
IronFX disrespects customer.
I'm yet to deposit any money but I decided not to use this broker whatsoever.
I never ever believe IronFX!!!
I already switched to other brokers.
 
Lagos, Nigeria,
May 17, 2019,
Registered user

Thieves

Run, Run, Run!!!! This broker is a thief, they are criminals, armed Robbers... I deposited one thousand dollars with this company, it was my fellow Nigerian who was working with them then his name is sixtus ughmadi that troubled me over the phone when I open a demo account with them to open a live account with them. At a time he was begging that his my brother that he is also a marketer with iron Fx, when I opened the live account and funded it. I later found out that ironfx is a scam by a fellow Nigeria, when I now wanted to withdraw all my fund with them, they told me that it's still process. Since September 14 2016 up till now I've not seen my money. I tried every means to get my money back all to no avail... Those people are criminals run, run if you can fly... Thieves!!!!!!!!!!
 
Portugal,
Apr 29, 2019,
Registered user

Contact your local police or Interpol

Apparently CySec is doing nothing about this, and situation and delays are far unnacceptable as a standard behavior of a financial institution, with the clients having their money held unlawfully.
It´s a worlwide scam with great publicity and marketing operations, they 've sponsored FC Barcelona and Whitebread races. They also methodically look over the web and often try to deny allegations, which thet seek actively over several web forums.
I suggest that people who have their money captive, present a complaint to your local police, or Interpol. By the looks of it, the only way they're gonna be shut down is by criminal charges in Cyprus, possibly fraud, embezzlement, procrastination of insolvency.
I also suggest that you point out in your complaints links to this and other forums so that they can at the police department, see that there is really a lot of people involved, and the local CySec is just not revoking their license.
 
Hungary, Hungary,
Feb 28, 2019,
Registered user

Withdrawal problem

I can't get back my money from IronFx since 14. July 2015. They don't answer to any of my e-mails, just simply ignore me. A few years ago I phoned the hungarian office for getting back my money, their reaction was: Why do you need your money?
 
Poland,
Jan 11, 2019,
Registered user

IronFX is SCAM

I'm waiting for my money since 2015. Tried almost everything! these guys are robbing people in white gloves...
 
United Kingdom,
Nov 18, 2018,
Registered user

withdrawal scam

Tried on several occasions to withdraw my funds.
emailed every address i can find with not one response.

More. Community discussion of this issue >>

 
Cape Town, South Africa,
Nov 7, 2018,
Registered user

Iron fx reveuses to pay clients

This broke just ignore you when you want your money to be paydd out. If you call Iron fx they just promise a payout In 24H. But nothing happens. This process is repeated over 4 months.. and they just ignore you.
 
Italy,
Oct 9, 2018,
Registered user

Terrible broker: it holds back unduly my money (€44.588) from 05/2015

Dear IronFX,
I'm your client since April 2013. Until a certain date we worked well together, but since 12/05/2015 you decided to take a behavior absolutely incorrect (I would say fraudulent ...). From that day I'm waiting for my money: € 44.588!
My struggle to get my money does not stop: on 17/01/2018 the Financial Ombudsman has decided that you have to pay me € 36.307.
Now I am ready to proceed with a court case in Cyprus and to report further to the supervisory bodies.
How can you say that you are a serious broker if you behave like that? Your story shows that you are unreliable.
Now that I have these evidences and the decision of FOS I will try more and more to let people know how you really are.
I await your news and my money.

Oct 24, 2017 - 1 Star IronFX is holding all my funds from May 2015. Total funds are about 45000 euro.
IMHO, Cysec is his partner...

Reply by IronFX Officer submitted Nov 9, 2017 Dear gransoporo,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.

Thank you


More. Community discussion of this issue >>

 
Aur,
Bucharest, Romania,
Sep 5, 2018,
Registered user

IronFX - Biggest Scam ever - now trying an ICO !

Almost 4 years ago I deposited about 2788 Euros into an account with IronFX.

I did not trade. After hearing rumors about IronFX having problems with withdrawals I decided to withdraw immediately. But Iron would not pay me out. I went through a long lasting complaint with the Ombudsman of Cyprus and he decided that I should get about half of my money! I still don't know why! However, IronFX did not even respect that decision to pay me less than half and since then the Ombudsman does not reply to emails nor does he take calls and neither does IronFX.
CySEC, knows and does NOTHING!
This is a case of corruption on the highest level. The President himself and some of his potitical friends are shareholders in IronFX (indirectly) and they would not let "their baby" die.

Now they have changed the name to Notesco and are also planning an ICO for millions. This is probabyl the next scam. Be aware and stay away!

After almost 4 years of waiting for
 
São Paulo, Brazil,
Aug 30, 2018,
Registered user

IronFX withdraw issues

I'm facing withdraw issues with IronFX since 22-11-2016. Tried to contact my account manager several times (Nuno Vasconcelos), sent emails to support@ironfx.com and funding@ironfx.com and opened a complain directly with IronFX without any reasonable response from they.

More. Community discussion of this issue >>

 
Max,
Italy,
Jul 25, 2018,
Guest

They do not process your withdrawal requests, they do not answer to your mails !
A new kind of broker is on the Forex Markert:

The Zombie broker !!!
 
Fx,
Spain, Spain,
Jul 17, 2018,
Guest

withdraw issues, terribe CS

all confirmed stories about ironfx withdrawn scam....a true nightmare for me as well. Run away from this guys and really spread the word. cheers
 
Cairo, Egypt,
Jun 27, 2018,
Registered user

Deal cancellation ..... happens a lot!!!

- I wanted to open a Fixed zero spread account with IronFx, so I sent an e-mail to their customer support.

- After one day, some of their agents contacted me. And I asked him about deal cancellation in his company?

- And he confirmed it. he said "it happen a lot."
 
South Africa,
Jun 13, 2018,
Registered user

SCAM

I have a BIG QUESTION and Serious RESERVATIONS about this 2018 Demo COMPETITIONS. Has anyone Won this competition and have they been paid? or this IRONFX is just fooling people. I Am worried about their Legitimacy also, because we have been watching the DEMO COMPETITIONS WITH A BIG EYE as to say what is happening, I have to say that my observation is that SINCE 2015 there has not been any ANNOUNCEMENT OF THE WINNERS.
Further to that the company does indicate that they will announce the winner of the Month but they don’t. This means that something wrong is happening, and they can’t be telling us they have a problem with their WEBSITE or its under construction (The question will for how long and since when, and who did they tell?) and- the question will be why now ? and why they decided to remove the recent winners, the reason is ONE they are MANIPULATING THE SYSTEM themselves as they claim that winners are Manipulating the system, they know exactly that they dictate who they want to Win, we have a track record of what is happening since the Beginning of the year.
I AM AFRAID TO SAY THIS, BUT I WILL SAY It, IronFX IS NOT OPERATION THE DEMO COMPETITIONS ON FAIR BASIS. We know the Winners and we know the reason why they are not announced. This is not the BROKER I WILL RECOMMEND FOR ANYONE. I AM VERY DISAPPOINTED IN IRONFX. LASTLY I HAVE TO ALSO SAY THAT I AM THE WINNER OF THE 2018 DEMO COMPETITION AND I AM FROM SOUTH AFRICA, - BECAUSE they don’t expect that I will win - they give me reasons like i manipulated the system. and this seems to be their tendency to the winners of the respective months. If you don’t believe what I Am saying I can also send the SNAPSHOTS. I AM VERY DISAPPOINTED IN IronFX. IT CAN NOT BE TRUSTED IF THEY DO THIS.
 
Italy,
Jun 6, 2018,
Registered user

My story is on the forum, under the eyes of everyone, everyone on this forum is smart enough to understand between you and me who is the criminal.
I will fight until the end, every day, because you stole my family's money from me. You stole everything from me, deposits and profits !!! You are people without conscience, you are people without fear of God, you are joking and laughing, you make fun of people, no respect for anyone, people are ruined but you ignore everybody, go for your way. No authority stops you, all accomplices of this scandal, but the moment of judgment will come for you too, you can be sure ... Three and a half years waiting, three and a half years of suffering, three and a half years of prayers, but my money still in your hands

Mar 13, 2018 - 1 Star Terrible broker, has cheated thousands of people all over the world, but continues to operate under the eyes of all the competent bodies. This is possible because Cyprus is a corrupt country. It s now 3 years that they do not return my money(They do not return even my deposit).
I appealed to the Financial Ombudsman, but they too were bought with iron money, like the lawyers they pay to try to cover up their shameful story.
Shame Cysec, shame FO, shame Cyprus !!!! Do not pay money to them, they're already lost ...

Reply by IronFX Officer submitted May 1, 2018 Dear marc56,



Thank you for your most recent posting.



Your case has been repeatedly discussed (see e.g. posting #218 above - http://www.forexpeacearmy.com/community/threads/ironfx-whistleblower-corner.53703/page-22#post-310752).



For the record, we note that in all your repeated postings on the FPA site, you have chosen to intentionally conceal (i) the true facts of your case and (ii) the fact that you had your case already judged and rejected by the FOS. This defines the defamatory nature of your repeated and baseless postings.



We welcome any further factual comments that you may have.



Thank you

More. Community discussion of this issue >>

 
Adnan arshad,
Pakistan, Pakistan,
Jun 2, 2018,
Guest

Scams

Ironfx fxgaints is a fraud and scam .two names but one company . Just stealing the money of peoples. And their 35 $ no deposit bonus is also a scam offer .they steal all profit and not contacted again.
 
Turkey,
May 9, 2018,
Registered user

Withdrawal problem still continue

Now i am sure that they are scam. i write comments from all social platforms that they are scam. My account number is 11029256 - Riza Berk Caglayan , as you can see in my previous comment i still wait for 870 usd to my bank and also i request to withdraw other 603 usd to skrill account but it also still waiting. Funding department never answer calls and reply to mails. i always take screenshots ( my call reports - mails - live chat talkings with them ) and with all of these i am going to complaint to ombudsman and than to the court. i already warn 3 of my business friend for not sending money to ironfx.

May 2, 2018 - 1 Star My name is Riza Berk Caglayan and my account number is 11029256.. 2 years ago i request to withdraw my 3477 usd and they waited me more than 1 year but still nothing ! Yesterday i canceled it and made new request 870 usd and it also says still processing! i spoke with several agents and they said that in 24 hours we made but as i said it past more than 1 year! i got 3477 usd account balance and just want 870 back but they didnt send me! Terrible company! The live chat only copy paste the link of funding department but there is nobody in that depertmant. i will tell everyone in my country about that company.
 
Viet Nam,
May 5, 2018,
Registered user

Ironfx is big scam. They didn' t pay my fund since 2 2017. They always avoid responsibility when talking on live chat. AWAY
 
Dhaka, Bangladesh,
May 3, 2018,
Registered user

Waiting for withdrawal since 2015

My IronFx account ID: 23033247 . I have been waiting for my withdrawal since 2015. I didn't take a single cent of bonus from IronFx. My withdrawal was cancelled  many times due to their long processing time. I have $1090 in my account. My last withdrawal $297 is still waiting for processing.
 
Manila, Philippines,
Apr 22, 2018,
Registered user

Resolve old proble.

How come its scam broker with so many licenses. I have been called some many times to start trading again but no problem resolving of old stuff. Resolve old problem first.
 
Reply by IronFX Officer submitted May 1, 2018:
Dear Alexfpasoldier,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
beirouth, Lebanon,
Apr 13, 2018,
Registered user

they are not letting me withdraw my money

ironfx have been holding my money since 2016 and now no one is answering me or calling me they keep saying that i have have abused something but i only have been trading regularly my account number is 22059904 i have around 7k USD and i want my money back please someone help me cuz i really am in need of it
 
Reply by IronFX Officer submitted May 2, 2018:
Dear jadmoussally,

Thank you for providing your details.
We note that your query was attended by the Company and a response was sent to you on 19 January 2016.

Regards,
Pakistan,
Mar 12, 2018,
Registered user

i am stil wating my withrawal my money 19000usd 2015
i am just depoist no trading no cheating plz tel me any way my withdrawal
 
Reply by IronFX Officer submitted May 1, 2018:
Dear khalid mustafa,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
Spain,
Feb 22, 2018,
Registered user

IRON FX SCAM

I OPENED AN ACCOUNT WITH 10000 BUT NEVER USED THE MONEY. ON THE 7TH OF DECEMBER OF 2016 I REQUESTED THE WITHDRAWAL OF THE TOTAL AMOUNT BUT NEVER GOT MY MONEY BACK. THE ORDER IS STILL PROCESSING. I SENT SEVERAL EMAILS AND SPOKE TO SEVERAL AGENTS AND STILL DON'T HAVE AN EXPLANATION. MY ACCOUNT NUMBER IS 21032693.
 
Reply by IronFX Officer submitted May 1, 2018:
Dear carogo,

Thank you for your message.
We note that your matter has now been resolved.
We refer you to our final reply (post #32) http://www.forexpeacearmy.com/community/threads/instructions-for-ironfx-clients-who-are-having-trouble-withdrawing-their-funds.39270/page-4#post-311943

Thank you
Sri Lanka,
Feb 20, 2018,
Registered user

i trade with 35$ bonus account .grow up 300$.then request witdrawal.after few minuts account disable and account manager sayed i am bonus abuser.also there live chat service is very bad.every question when ask they need to contact account manager.
 
Reply by IronFX Officer submitted May 1, 2018:
Dear rashoma,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
United Kingdom,
Feb 7, 2018,
Registered user

Please everyone who got stung by IronFX go to the EU Parliament partition website and sign the petitions (3 in total) referring to IronFX https://petiport.secure.europarl.europa.eu/petitions/en/show-petitions?keyWords=ironfx&_allYears=on&_years=1&_anyTheme=on&_searchThemes=1&_anyStatus=on&_statuses=1&_anyEuCountry=on&_countries=1&searchRequest=true

Reading all the information on this company (see the kindle IronFX book available on Amazon for an excellent consolidation of all the information) this looks like the only way to get the EU to act. 1,900 complaints to CySec and only 50 odd people have sign the petition to force this into the EU Parliament. If you want action then everyone needs to sign it and it will happen. There must be thousands of people scammed and family members effected by this so get everyone to do it. It's easy to register for a login to sign them and only takes a minute.
 
Reply by IronFX Officer submitted Feb 16, 2018:
Dear BinaryLad,

Thank you for your continuing posts and comments.

Your constructive approach is appreciated and welcomed as it provides a sensible discussion forum for us to engage using facts rather than hearsay.

Please understand our position in clearing what was indeed proven to be a multitude of repeated hostile, baseless and defamatory allegations by non-clients. This sometimes required us to take a forcefully factual approach in order to stop purely defamatory threads without a valid client claim.

In our effort at FPA we have answered all threads with facts. We have identified all real clients and successfully dealt with their claims. We have also answered to a multitude of postings by non-clients. You may have noticed that these postings are just the same things going round and round and round in a merry and baseless go-round.

The undisputed facts are:

1. We have been operational for 8 years, one of the longest established global Brokers.

2. We are regulated by the four premier regulators in the FX world (FCA, ASIC, CySEC and FSB) with full licencing and with an absolutely clean record of conduct. No fines and no warnings whatsoever. To this effect, we don’t think that e.g. the FCA would turn a blind eye to any misdemeanours.

3. We never breached any Capital Adequacy requirements in any of our regulated jurisdictions.

4. We have had the same auditors since inception with a clean audit record throughout.

5. We have not had a single Court judgement in any jurisdiction against us.

6. The “huge number of complaints” respond to a mere 0.2% of our client base, most are old and have been dealt with.

7. We have passed significant due diligence as part of various investment processes in our 8 years of operations. This has culminated in the recent investment by a regulated fund in our company.

The allegations merry go round (same things posted again and again in different threads) are as follows and concern 10 repeated statements which are presented below in no particular order:

1. “$176m in lost client funds”: see points (2) and (4) in the list above. We are one of the few Brokers that hold the client funds on-balance sheet and are therefore audited. Some regulators e.g. FCA also require daily reconciliations. The Auditor General’s report was a report by a non-expert criticising primarily CySEC processes. This was spun out as “confirmation of a $176m hole”. We have taken measures since to correct this misunderstanding but unfortunately the report cannot be retracted as it is a mammoth annual report covering all departments of the Cyprus Government.

2. “Petitions in the European Parliament”: As you rightly point out, the fact that no one has signed the petition “in the last 5 days,” points out the defamatory nature of these allegations. Please also note that the last petition to the European Parliament in July 2017 plainly confirmed the sole jurisdiction of the Republic of Cyprus in dealing with any complaints against CySEC regulated entities. The statutes on National Sovereignty are very clear and any additional petitions (if ever lodged) will have a similar fate.

3. “German criminal cases against members of management”: to-date we are not aware of any cases against management. The German document that appeared in some of the threads was just a confirmation that no case exists. It was misrepresented as being a criminal case against management. On the contrary, we have won a seminal defamation case at the Munich Court against a paid-for defamator and we have obtained a cease-and-desist order.

4. “Clients are consumers”: we have won seminal court cases in this respect. The EU law is clear in this respect that clients are not consumers. The Cyprus Consumer Protection Service opinion was just an unfortunate and wrongful interpretation of the legal framework. We have initiate legal action in this respect. We also stress that this is not a Court decision.

5. “Unpaid rents”: against a misrepresentation of the decision of the Junior Court in Cyprus in a simple rent dispute. This was overturned in our favour at the High Court.

6. “BBC documentary”: this is purely a defamatory attempt by a disgruntled ex-client that happened to be an ex-BBC employee. Was spun out as a “BBC documentary”. No BBC documentaries exist on the subject matter and indeed no articles exist in the mainstream press (other than positive articles in e.g. FT or Wall Street Journal).

7. “Class action lawsuits”: we confirm none is in existence and we have never been notified of one. A couple of comments in threads concern shady law firms trying to procure unsuspecting clients. They never get anywhere as there are no real claims and no one is willing to pay legal fees.

8. “Legal action against one of our lawyers”: we have global operations and we engage a multitude a legal firms (c. 30 globally). We cannot comment on individual law firms and any case against a law firm is clearly not a misdemeanour against the company.

9. “€335,000 fine”: this was a settlement with CySEC following their investigation of the 10-largest Cyprus Brokers in 2015. No party admitted wrongdoing and the matter is closed since November 2015. IronFX was the only company under investigation that did not receive a fine. All the remaining Brokers in the investigation received fines.

10. “Amazon Book”: this a free book that it is just a write-up of the points above. We have no additional comments as to the motives.

As you can see, facts pay a very clear picture of an organised defamation attempt.

As you suggested, in thread http://www.forexpeacearmy.com/community/threads/ironfx-com.14830/page-5, we welcome your suggestion for a “falsely accused broker” section where we can post final and factual responses for the 10 false allegations above that get repeated throughout the FPA threads.
For any other issues or repeated defamatory commentary or false allegations you want to post on the FPA site please refer to the “IronFX – Falsely Accused Broker” thread: http://www.forexpeacearmy.com/community/threads/ironfx-falsely-accused-broker.54115/

We would also expect this effort will result in the removal of the “Scam Broker” rating by the FPA,

Regards,
Budapest, Hungary,
Jan 29, 2018,
Registered user

Trade record went missing!!! A scam or it was caused by Forex Hacked 1.2??


I have been using the IronFX Real account on the InterServer VPS and found the new EA robot Forex Hacked Pro 1.2 working strange and complaining to lawyers and some FX forums. I thought the malfunctioning was caused by the Forex Hacked Pro 1.2 such as the over the purchase of short trading to cause my margin negative.

But this morning, I tried to cancel 2 tradings to make profit manually. And I found the two orders, 13823091 and 13828145, went missing from the account history. The lastest account history on my list is 13828593 and from January 26th.
Could you explain what happened to these missing tradings and what caused such disappearances?

Is this a fault of Forex Hacked Pro 1.2 or just something else happened as the background jobs by somebody? I was fine with the sentiment, OBOS, and trend news reading for making proper profits.
 
Reply by IronFX Officer submitted Feb 1, 2018:
Dear Miyoko,
You are kindly requested to provide us with your particulars (i.e. name and account number), as well as with a detailed description of the issue (date, time and deal number of the order affected) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Canada,
Jan 29, 2018,
Registered user

Yes IronFX is a scam broker I asked them 4 times to withdraw my money and they put me ONHOLD for more than 4 months without any reasons and every time when I ask the chat support they said is a different department and we cant do anything.

I sent 4 times this department and no one answer me.

Its a SCAM please don't register with it.
 
Reply by IronFX Officer submitted Feb 1, 2018:
Dear MarwanGhaben,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
Italy,
Jan 22, 2018,
Registered user

Terrible experience! my withdrawal request has been pendind since 3 years! I sent a lot of mail to support@ironfx.com but they do not give me my money! SCAM!
 
Reply by IronFX Officer submitted Feb 1, 2018:
"Dear IRONFXSCAM,
The Company has repeatedly requested that you provide your particulars however, you have not done so to date in order to allow the Company to attend to any genuine query you may have. You have chosen to keep your identity undisclosed by using nicknames and usernames with the sole purpose of engaging in defamatory comments, untrue and unfounded statements.

We note that your continuous defamatory attempts are aimed at creating impressions, disgrace and damage to the Company’s reputation and goodwill. Such inappropriate conduct is not welcome by the Company and is against ethics and morals. Unless you have a genuine query, the Company does not intend to attend to any further unsubstantiated comments or statements.
"
london, United Kingdom,
Dec 4, 2017,
Registered user

iron fx not paying money out. made withdrawal request and 6 weeks later saying that I have done illegal dealing.

Have made a withdrawal request on 31 st October 2017 for full amount to all possible emails and have spoken to many people in office on Web chat only to be told that withdrawal is a separate department. Got an email today saying illegal practice had taken place on my account so they reserve the Rights to do whatever they want.
 
Reply by IronFX Officer submitted Dec 26, 2017:
Dear Siraj12,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
Prague, Czech Republic,
Nov 13, 2017,
Registered user

BOGUS FIRM

FRAUD!!!FRAUD!!!FRAUD!!! This company steals money. It has been 3 years and they still didn't return it even though they confessed they did mistake. Almost 10 000 EUR.
Don't trust them!!! Don't sign any contract with them! Thiefs!
 
Reply by IronFX Officer submitted Dec 26, 2017:
Dear 1chris1,
You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at responses@ironfx.com for any clarifications you may require.
Thank you
Lima, Peru,
Jul 7, 2017,
Registered user

Not delivery withdrawal

My withdrawal is delayed more than 15 days, and they don't answered my emails. In the Terms and conditions item 17.7 indicated that in the webSite must be the amount of days for withdrawal but it is a lie. In the chat they answer that the withdrawal is in the queue.
 
Reply by IronFX Officer submitted Nov 10, 2017:
"Dear Josce181,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"
O.,
Netherlands,
Jul 5, 2017,
Guest

No replies to withdrawal: scam

After sending multiple emails there is no reply after weeks and there is no reponse in live chat, the que literally takes forever. There is always one person in front of you, no matter what time you try or what reason you give to engage a live chat with Ironfx. You will simple not get through..

If you want to withdraw your money, the request is never processed and also literally takes forever. Some victims on this website claim their request is still 'awaiting process' after years..

If you're reading this to figure out if you want to go for ironFX, don't do it, they steal your money and there is no way to get in touch with them.

Stay away from this company!
 
Reply by IronFX Officer submitted Nov 10, 2017:
"Dear O.,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"
Victim,
Sandton, South Africa,
Jun 28, 2017,
Guest

Ironfx is the number 1 scam broker in the whole world

Scam Confirmed!!! If you wanna through your money into mother f***ers hands, Join IRONFX.
If you have deposited anything and you think you will be able to withdraw a cent, you have mistaken...
 
Reply by IronFX Officer submitted Nov 10, 2017:
"Dear Victim,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"
Italy,
Jun 10, 2017,
Registered user

My account 17017935
More than 29 months ironfx is holding all my funds 22684 euro.
This terrible broker is defended by the complicity of Cysek regulator.
 
Reply by IronFX Officer submitted Nov 17, 2017:
Dear luxotik,
Thank you for providing your details.
We note that your query was attended by the Company and a response was sent to you and your attorney on 4/6/2015 and 01/02/2016 respectively.
We further note that had your complaint referred to the Financial Ombudsman Service which was terminated by the Financial Ombudsman Service on 31 October 2017.
Regards
curitiba, Brazil,
May 27, 2017,
Registered user

impossible withdrawl

please, do my withdrawl. i am working hard in my client account daily!!

this is my comission.

account :16052609 2017-05-27 WCG0M06JD7OQLB6O Withdrawal – Credit Card $198.32
account: 16052609 2017-04-19 WLMMBFCQ0IOON0FL Withdrawal – Neteller $98.00
 
Reply by IronFX Officer submitted Nov 17, 2017:
Dear cruzdenis1982,
We note that you have not to date, raised any formal query with the Company.
Regards
Italy,
May 21, 2017,
Registered user

SCAM BROKER! My withdrawal request from #ironfx has been pending since 2 years!
CySEC official board must resign, because most of 1700 complaints related to clients' money at IronFx are still unsolved.
How long are authorities going to be silent? IronFx crime goes on for 2 years!
 
Reply by IronFX Officer submitted Nov 10, 2017:
"Dear alby1267,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"
Barcelona, Spain,
May 18, 2017,
Registered user

Unethical trading from Barcelona

Hi there,
My name is Luke Charles(not real name). I worked for IronFX from Barcelona.
This IronFX company is genuine and strictly professional but those who work for IronFX through different assigned IB are purely scam...you will lose all your valuable money that you invest through IronFX. I am not a person who likes to live by cheating people or scam people and take their valuables to have a better life.

IB Assignment : 16055643

I worked for IronFX for one year unofficially. They didnt provide me any work contract like my other 15 colleagues of mine. Every month i got a salary of 500euros plus comission for bringing the prospects to client level on board to IroFX.

In one month or two months, i had a feeling that something is not right.
My ex-boss, Alejandro Aller Blanco and his Partner(girlfriend) Celeste Villapina are the masterbrain behind this scam. Alejandro had a team of 5 trustworthy members which had different tasks from Online chat to attract clients, tapping and listening phone calls, new web development and hosting and web master who can even hack into your personal emails or intersect valuable information.
I saw with my eyes that clients from England, Germany, Dubai, Poland and more other countries suffered a big loss. A loss starting from 10k EUROs to 85k EUROS.
I have all the list of the clients who lost their money. Alejandro has got a trustworthy friend called as Rufus Metzler from Germany. Through Rufus, a lot of german clients invested and they all lost their investment after three months. Photos and videos and phone calls will be uploaded into my website soon.

There are different account services provided by IronFX but the most popular and recommended by unpofessional IronFX IB agents are PMAM (minimum 10000 GBP or USD or EURO) or basic account (with minimum balance of 100 euros or USD or GBP to upto any amount).

All these accounts are managed by one single trader Tony who has no professional work experience or certified trader for IronFX but learnt from Youtube videos.

I am determined and planned to start a blog or a website soon where i will add more infos to the public where you can find phonecalls, livechats, emails from IronFX and IB agents in Barcelona.

Again, IronFX is a good professional trading company but the problem are those who work under IronFX through different IB assignment.

I want to see those clients that lost money through trading with this IB should get their money back.

Soon i will be in touch with you through my blog and website.

Thank you
 
Reply by IronFX Officer submitted Nov 17, 2017:
Dear luke charles bcn,
We note that the Company has neither operated an office in Barcelona nor has it ever employed any of the individuals you are referring to.
We also note that you have not raised any formal query with the Company by disclosing among others, your real identity. In the absence of the factual circumstances surrounding your comment / query we cannot address the above content further.
Regards
iron fx is scam,
Panama,
May 3, 2017,
Guest

My withdraw is in ¨process¨for over 20 days. My account manager, Juan Fraile, would not answer my emails or my calls

My account manager´s name is Juan Fraile. be careful with him!!!!!

Iron Fx is a SCAM. Once you transfer money to your account is gone forever.

Every thing is good, until you try to withdraw (more than $100) after this point no one will answer your emails anymore.

If you dont believe me, just try to call Customer service (and see if they answer the call).

 
Reply by IronFX Officer submitted Nov 10, 2017:
"""Dear iron fx is scam,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"""
Gaborone, Botswana,
Apr 19, 2017,
Registered user

Ironfx is a scam they are refusing to process my withdrawal

Ironfx is a scam traders please be on the lookout they are withholding my withdrawal and keep on saying there is an opportunity ahead i should just trade without withdrawing....even on of the managers said he will not process my withdrawal if i dont trade with them. My account manager was Carl Virda from ironfx
 
Reply by IronFX Officer submitted Nov 10, 2017:
"""Dear SNIPER92,

You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. You can also write to us at support@ironfx.com for any clarifications you may require.
Thank you
"""

Frequently Asked Questions

👮‍♂️👮🏽‍♀️ Are there regulatory actions against IronFx?

There have been many regulator actions against IronFx and related websites/companies. 

CySEC investigated IronFx and collected a €335,000 settlement from them.  This was after IronFx tried to claim that the CySEC investigation was to investigate cheating clients.  Later, the Cyprus Consumer Protection office decided against IronFx regarding allegations of contractual unfairness.

IronFx has also been the subject of regulator warnings or actions from Brazil, Canada, and Argentina.

⚠️ Is IronFx a good and legitimate broker?

The FPA believes that IronFx is not a good or legitimate broker.  Reasons for this include:

  • A history of fake positive reviews submitted from inside IronFx's offices.
  • Four separate FPA Traders Court guilty votes against IronFx.
  • Multiple regulator warnings and actions against IronFx.
  • Continuing complaints against IronFx in the FPA's reviews and forums.
The FPA recommends against doing business with IronFx or any related company.

💵 What can I do if I can't withdraw my money from IronFx?

The Forex Peace Army has set up a special thread with instructions for traders who are having trouble withdrawing their money from IronFx. 

Please go here and follow the steps laid out in the first post:
Instructions for IronFx clients who are having trouble withdrawing their funds