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Updated: May 19, 2020
Notesco Limited
1.489 · 223 REVIEWS
Is this your company?
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.


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,,,,,, and

 Need more info?
Read and Ask HERE.


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

Broker Details

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

Live discussion

Join live discussion of on our forum

Go to forums 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).


Your company video here? Contact ad sales

1.489 · 223 REVIEWS
Forex Peace Army

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

Your feedback matters!

Consumer Reviews

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.
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 ( and account number) in order to allow us to attend to any queries you may have. You can also write to us at 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 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.
iron fx is scam,
May 3, 2017,

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 ( and account number) in order to allow us to attend to any queries you may have. You can also write to us at 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 ( and account number) in order to allow us to attend to any queries you may have. You can also write to us at for any clarifications you may require.
Thank you
Budapest, Hungary,
Feb 21, 2017,
Registered user

SCAM broker confirmed. Don't even think about depositing any of your money. If you do, it's gone forever.

I trusted Ironfx in 2014. Not anymore. Since Mid Aug, 2015, I have been waiting for them to process my withdrawal request.

They send me an email, saying I am an abusive trader. WHAT!!!

Sep 1, 2015 - 1 Star I have been trading with IronFX for a year now. I did a withdrawal request late last Monday, 24rth August 2015.

As of today, 1st September 2015, it's technically the 6th business day. They keep telling me, it takes upto 10 business days :-(

I got the following message which my account manager forwarded to me.

"Thank you very much for your inquiry!
Currently we are processing all withdrawal requests with a queuing system.
The reason of the delay with processing your request is because we identified a group of traders who are misused our promotions and acted against our T&C.
Because of this breach we started an investigation on all our clients accounts prior of processing any request. Your withdrawal request though is expected to be processed in due course.
From our side we will do our best to speed up the process.
Thank you for your patience and understanding.
Best regards,”

The above doesn't look very promising. I haven't accepted any bonuses for my account.
The withdrawal amount is roughly 1000$ to my credit card, the same way I have deposited the sum.
At this point, I can only wait for 10 business days, i suppose :-(

I am slowly loosing hope. Looks like a ponzi pyramid scheme, where they are either waiting for new client money to pay old client's money (OR) they are short of cash altogether and delaying bankruptcy.

I think, something really went wrong here. In the past, I have even withdrawn upto 5000$ at one go. That was as recent as 15th of Oct 2014.

I know, all of you are eager to know the outcome of every case. I will keep you all posted.
Reply by IronFX Officer submitted Nov 10, 2017:
"""Dear fxjockey,

You are kindly requested to provide us with your particulars ( and account number) in order to allow us to attend to any queries you may have. You can also write to us at for any clarifications you may require.
Thank you
LONDON, United Kingdom,
Feb 3, 2017,


Jan 29, 2017,
Registered user

Most flexible broker out there

I've been using them for over a year now and I would recommend them to anyone, execution is great, flexibility is the best I've encountered with any broker and withdrawals are fast, account manager is fast to reply to queries.

5 Stars
Jan 11, 2017,
Registered user

Cheater 10 months of sitting on my money, is not paid back. Beware of the company !!!!
Dec 28, 2016,
Registered user

IronFx Scadal

General Auditor of Cyprus is saying CYSEC and IronFx has Fooled the investors.
The general audit report 2015 ( which is Greek Language ) translated to English , read it yourself and decided is that CYSEC a Fraud regulator

2015 report of Cyprus General Auditor reveals explosive details about #IronFx and maladministration by #CySEC

Dec 5, 2016 - 1 Star IronFx is scam company. Stay away from it.
They did not segregated clients money and used those clients money for Company purpose trading and now IronFx financial statement 2014 shows $170 Millions of Clients assets missing and that the reason they are not paying clients withdrawals .

IronFx Scandal
If you want to download IronFx Financial statement 2014
click hear

If you do not understand the IronFx Financial statement 2014 then download the easy word explanation in my own words
click hear

If you want to download the expert opinion used by IronFx to label all profitable trades as abusive trader ( This is paid Expert Opinion , IronFx paid to Reed Smith LPP to make opinion bias and non neutral )

click hear

Nov 20, 2016 - 1 Star Friends European parliament has accepted IronFx Victim petitions and now I request all the Victims to please show ur support this 3 petitions . All 3 of them belong to IronFx Scandal .
large Number of support from you will help to create the pressure on European Commission to act fast
There is option for Registered used to show there support to the petitions mentioned below .

Petition 1

Petition 2

Petition 3

with Regards

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