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IronFx.com Review Visit site

Updated: Nov 19, 2018
1.505 · 212 REVIEWS
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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.
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.


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. 


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 and FxGiants.co.uk


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Court cases

  • Open0
  • Resolved1
  • Not guilty0
  • Guilty4
Case IDFiledCase nameVerdict
2015-0322015-03-03sunayana_khurda vs ironfx.comguilty
2015-0302015-02-27mukeshbhai vs ironfx.comguilty
2015-0282015-02-23R.D vs ironfx.comresolved
2014-1852014-11-20Sergio80 vs ironfx.comguilty
2015-0362013-03-22MarcoA vs ironfx.comguilty

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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1.505 · 212 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

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.
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

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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.

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Jul 25, 2018,

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 !!!
Spain, Spain,
Jul 17, 2018,

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
Moha Sasa,
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


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.
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

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