Is IronFX trustworthy?

highbury fx said:
in the context of FX, regulations and banking (rather than tourism for example) how on earth is Greece tied in many ways to Cyprus?
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Culturally, linguistically etc. which you may not see as relevant but I do.
 
Pat494 said:
Culturally, linguistically etc. which you may not see as relevant but I do.
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lol. you have no idea do you.

all of your posts that make reference to Greece being in trouble include a ridiculous reference to Cyprus as well but you don't know the difference between the 2 countries at all.

you assume that they're linked but you don't know how. You assume that as Greece is in trouble that must mean Cyprus regulated firms must be up to no good or about to go pop but really you have no reasoning for that at all. (except of course they speak the same language and share a similar culture!!!! lmao)

I know how expensive it is to go through CySEC and how long it takes to get regulated and the structure you need to have in place locally, and I know how much and how long the FCA take as well, and ASIC and BaFIN and the FSB.

Do you know the differences between them all? nope, of course you don't, but that doesn't stop you confusing people by linking Greece to Cyprus in the way that you do
 
highbury fx said:
lol. you have no idea do you.

all of your posts that make reference to Greece being in trouble include a ridiculous reference to Cyprus as well but you don't know the difference between the 2 countries at all.

you assume that they're linked but you don't know how. You assume that as Greece is in trouble that must mean Cyprus regulated firms must be up to no good or about to go pop but really you have no reasoning for that at all. (except of course they speak the same language and share a similar culture!!!! lmao)

I know how expensive it is to go through CySEC and how long it takes to get regulated and the structure you need to have in place locally, and I know how much and how long the FCA take as well, and ASIC and BaFIN and the FSB.

Do you know the differences between them all? nope, of course you don't, but that doesn't stop you confusing people by linking Greece to Cyprus in the way that you do
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Mere details :cheesy:
Alpari was also covered, we have yet to see a payout.
If Greece were to exit the EU/euro, Cyprus could drop out too.
Blood is thicker than ouzo
 
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Pat494 said:
Mere details :cheesy:
Alpari was also covered, we have yet to see a payout.
If Greece were to exit the euro, Cyprus could drop out too.
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why would Cyprus leave the euro if Greece did? they are completely separate. Can you tell me how you've arrived at that assumption? Based on your reasoning if Spain left the euro then Austria could to.. its a ridiculous comparison based on your lack of knowledge.

Alpari collapsed a few weeks ago. you expect a payout already? How long did it take to pay the clients of WorldSpreads or MF Global.
 
I think this may be worth re-publishing

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CySEC Response

cysec_logoForex Magnates’ reporters reached out to the Cyprus Securities and Exchange Commission (CySEC) in order to obtain the regulator’s perspective on the issues affecting IronFX. The watchdog informed our reporters that the authorities were aware of the allegations and were going to address the case according to standard procedures.

“CySEC received a formal complaint about the issues raised in your email on Friday 9th of January and will be investigated in time,” the regulator said. “In all cases due process has to be followed and if the CySEC Board finds that there has been any wrongdoing on the side of the CIF it decides on the measures to be taken.”

At the moment CySEC does not have any authority for the restitution of any loss suffered by clients. However, the supervised entities were informed that should they decide to proceed with the restitution of any losses suffered by their clients it would be taken into consideration when the CySEC Board considers the measures to be pursued (i.e. as a mitigating factor).
- See more at: http://forexmagnates.com/ironfx-fac...0-chinese-clients-ibs-2/#sthash.tCxr8pBE.dpuf

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Let's see what CySEC does ?
 
Pat494 said:
I think this may be worth re-publishing

---------------------------------------------------------------------------------------------------

CySEC Response

cysec_logoForex Magnates’ reporters reached out to the Cyprus Securities and Exchange Commission (CySEC) in order to obtain the regulator’s perspective on the issues affecting IronFX. The watchdog informed our reporters that the authorities were aware of the allegations and were going to address the case according to standard procedures.

“CySEC received a formal complaint about the issues raised in your email on Friday 9th of January and will be investigated in time,” the regulator said. “In all cases due process has to be followed and if the CySEC Board finds that there has been any wrongdoing on the side of the CIF it decides on the measures to be taken.”

At the moment CySEC does not have any authority for the restitution of any loss suffered by clients. However, the supervised entities were informed that should they decide to proceed with the restitution of any losses suffered by their clients it would be taken into consideration when the CySEC Board considers the measures to be pursued (i.e. as a mitigating factor).
- See more at: http://forexmagnates.com/ironfx-fac...0-chinese-clients-ibs-2/#sthash.tCxr8pBE.dpuf

-----------------------------------------------------------------------------------------------

Let's see what CySEC does ?
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ironfx like all brokers that acquire business using affiliates pay bonuses based on the initial deposit of the referred client. ironfx may pay 50% of first time deposits up to a maximum of $10,000 once 3 times the bonus amount has been staked.

this means that for a client to earn a bonus of $10,000 he must first do trades worth either $30,000 of spread or closed stake. The brokerage therefore is paying $10,000 to get the first $20,000 to $30,000 of business from this client - that's a good deal for the broker and a good deal for the client. perfect.

however, some clients scam these bonuses by opening 2 accounts and buying and selling very tight spreads to earn the bonus in a way that the brokerage doesn't like. most times the clients trying to do this will mess it up and the brokerage will ignore it as it costs them nothing. it sounds like a group of Chinese bonus hunters have developed a way to make the bonus payment worth more than the spread or closed stake they bet and IronFX don't like it.

in ironfx tems of referred business and bonus payments there will be plenty of room for them to avoid paying clients or referrers who they think are scamming then. ironfx have to have this protection but it is how it is implemented that is causing the problem here.

all brokers will push back on paying referrers or clients who are trying to earn a bonus payment or cpa payment which may be in conflict with their terms. it happens a lot and most of the time it will be obvious what the client or referrer are trying to do and the decision not to pay them is either accepted or justified.

in this case 160 people are chasing ironfx for what they consider to be their money and what ironfx consider to be theirs.

this doesn't impact on any ironfx client going about their normal business. it is a very specific group of people and not the normal client who is buying and selling EURUSD 6 times a day with $2,000 on their account. This type of client will have no problem getting their money back.

i'm not associated with ironfx but I underststand the fight against them. Bonuses are a messy business and CySEC are one of the best at monitoring it. For example CySEC will not allow the broker to oblige the client to maintain a minimum cash balance for any period of time in order to qualify for the bonus. That's a good and responsible decision by CySEC and should be applauded.
 
highbury fx said:
i'm not associated with ironfx but I underststand the fight against them. Bonuses are a messy business and CySEC are one of the best at monitoring it. For example CySEC will not allow the broker to oblige the client to maintain a minimum cash balance for any period of time in order to qualify for the bonus. That's a good and responsible decision by CySEC and should be applauded.
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your points make sense, although a broker that offers a bonus acts like a casino and not like a professional brokerage or bank. you will never see a bank offering 50% bonus of a deposit with terms such as you need to make a minimum of 100 wire transfers (costing $20 each) per 1000 bonus, even though such a thing makes sense it does not befit a professional company. the same with igindex or fxcm which was a big company. the maximum they offer is a 100 or 200 welcome offer. but when you get the big percentages then they are casino style and just after our losses so its a win win if we lose then they couldn't care about the 50% and if we win then there is no bonus anymore. ironfx did not offer a cashable bonus so there were no trading amounts to be fulfilled. therefore if there were parts of their terms that were unclear they should stick with their commitments. if it was clear then thats fine they will win. look at their crazy share bonus of 100% which is too complicated for the average joe.

but as you wrote you are not associated you have one misconception that everyone else who is a normal trader is recieving their money. that is not the case. in fact absolutely no one is recieving their money back and that is what you can find on the forums everyone is complaining about. therefore ironfx are showing their true colours and becoming obvious scammers and everyone is advised to stay well away.
 
The brokers that offer " too good to be true " deals should I think be on the suspects list. They are perhaps desperate and go overboard on these dodgy deals. Coupled with the" no payback " it is a racing certainty. Plus being based on some far away island is another tell tale.
 
Pat494 said:
The brokers that offer " too good to be true " deals should I think be on the suspects list. They are perhaps desperate and go overboard on these dodgy deals. Coupled with the" no payback " it is a racing certainty. Plus being based on some far away island is another tell tale.
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come on Pat.. post something relevant or useful.

Your posts have no substance nor help. You're what I call White noise.

You make statements that you cannot back up and when you are asked to back them up you go all quiet like a little mouse and wait for someone to slightly change the subject and then you pop out for a little scrap of cheese again..

I think you're funny and I love reading what you write. It's similar to how proud I feel when I see the picture my 7 year old has drawn. She's really tried to do something good but its crap really and I have to chuckle. (it doesn't mean I don't love her, I just think as an artist she has a long way to go)
 
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highbury fx said:
come on Pat.. post something relevant or useful.

Your posts have no substance nor help. You're what I call White noise.

)
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It may surprise such a dummy as you appear to be that choosing a good broker is very important.

Practice keeping up you idiot and you may impress your 7 year old eventually.
 
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Pat494 said:
It may surprise such a dummy as you appear to be that choosing a good broker is very important.

Practice keeping up you idiot and inspire your 7 year old.
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idiot?

lol. It's a fair point and one you've made very well made.



ok, who in Pats world is a good broker? give us an example of what makes them so much better than anyone else. believe me it will be the easiest thing in the world to find similarities with the 'good broker' you choose and any other broker that has been fined, suspended or revoked.

over to you sir..
 
highbury fx said:
idiot?

lol. It's a fair point and one you've made very well made.



ok, who in Pats world is a good broker? give us an example of what makes them so much better than anyone else. believe me it will be the easiest thing in the world to find similarities with the 'good broker' you choose and any other broker that has been fined, suspended or revoked.

over to you sir..
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I am probably not the right person to ask just at the moment as I was with Alpari. I am however looking around. And would you believe, have looked at IronFX on the way. FX Pro is a possible, maybe. But I do have another account which is doing alright - fingers crossed.
You are " the know-all " , so why don't you suggest one. Points to look for imho are amongst other things :-
honesty
tight spreads ( forex )
quick platform
good charts with MT4 ( I am used to this one )
reasonable reputation
etc.

Hope that this is not too white noisy for your sensibilities
 
I've read all the reviews about IronFX, and it honestly worries me. But I've been in this industry too long to take all this hearsay as given. Everything with a bucket of salt is my advice. I've tried trading with IronFX before, and didn't have any problems with withdrawals.
 
AlfonsoB said:
I've read all the reviews about IronFX, and it honestly worries me. But I've been in this industry too long to take all this hearsay as given. Everything with a bucket of salt is my advice. I've tried trading with IronFX before, and didn't have any problems with withdrawals.
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So you traded with them before which presumably means before the SNB actions that have since caused many brokers to go bust and prevented clients making withdrawals?

The evidence is clear if what is said on this thread is true and that is many people cannot withdraw their funds. If they are Russian then they also have the collapse of the Ruble to contend with as well.
 
Inquisitor said:
So you traded with them before which presumably means before the SNB actions that have since caused many brokers to go bust and prevented clients making withdrawals?

The evidence is clear if what is said on this thread is true and that is many people cannot withdraw their funds. If they are Russian then they also have the collapse of the Ruble to contend with as well.
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Hi inquisitor
I've made withdrawal with IronFX since the SNB event (not alot, if I'm being honest, but thats more because I'm a bit of a cautious trader!). From what I've read in the forums, the stopping of withdawals has only happened with Chinese IBs. Not sure if you've had a different experience?
 
Pat494 said:
I am probably not the right person to ask just at the moment as I was with Alpari. I am however looking around. And would you believe, have looked at IronFX on the way. FX Pro is a possible, maybe. But I do have another account which is doing alright - fingers crossed.
You are " the know-all " , so why don't you suggest one. Points to look for imho are amongst other things :-
honesty
tight spreads ( forex )
quick platform
good charts with MT4 ( I am used to this one )
reasonable reputation
etc.

Hope that this is not too white noisy for your sensibilities
Click to expand...


hahaha.. love it.. nope, thats not white noise, thats a proper question.

i've always said i won't recommend any broker and i'd really rather not. But looking at your requirements and your previous posts about not being comfortable with Cyprus (which I assume means you're not a fan of CySEC) I'd suggest for your own peace of mind to stick to a UK publicly quoted company that is regulated by the FCA and has been around for some time.

Thats probably IG. They seem to tick all of you boxes.
 
AlfonsoB said:
Hi inquisitor
I've made withdrawal with IronFX since the SNB event (not alot, if I'm being honest, but thats more because I'm a bit of a cautious trader!). From what I've read in the forums, the stopping of withdawals has only happened with Chinese IBs. Not sure if you've had a different experience?
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hi thanks for the update.

please everyone beware of ironfx shills. it is very possible that AlfonsoB is a shill as it is strange that he just opened an account on trade2win just to post this. as he just registered today. i have been on here long enough to notice a shill. you can see ironfx shills all over the forums such as here

http://www.forexpeacearmy.com/public/review/www.ironfx.com

and in the commentst section http://forexmagnates.com/ironfx-faces-cyprus-court-complaints-160-chinese-clients-ibs-2/#comments

and http://postimg.org/image/9cl83ba7f/



ironfx employs people to make fake reviews and tells them to make it sound honest like to be honest i only withdrew a small amount . you see there is a contradiction here in itself as what has a cautious trader got to do with the size of a withdrawel. if anything it has to do with deposit sizes!
 
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