Is IronFX a scam or legit broker? Read IronFX Review
IronFX is an offshore or unreliable broker which is not regulated by any reputed regulation authority in its region. This broker offers trading and investment services in many countries without having a license from any regulatory authority in its country like CySec, ASIC, FCA, CNMV, etc. The broker got many Complaints and negative IronFX reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Website – https://www.ironfx.com/en/
Address – Cyprus
Warned By – The Cyprus Securities and Exchange Commission (Cyprus)
IronFX is the brand name of Notesco Limited, which was founded in 2010. Forex, commodities, indices, shares, metals, and futures are among the trading firm’s areas of expertise.
According to IronFX, they are a worldwide broker with customers who use their web-based trading platform from all over the world. Even though they present a flawless image of the business, something doesn’t seem right.
CySEC has repeatedly warned IronFX and opened inquiries into it. IronFX was penalized €335,000 for declining to let clients withdraw their money. Following a rise in investor reports against the broker, CySEC declared that it was looking into the matter.
The numerous investor warnings, penalties from regulatory organizations, and unfavorable customer reviews all demonstrate the legitimacy of this business. You must avoid these brokerage companies at all costs if you want to prevent financial loss.
Possible scam activities of IronFX
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this IronFX review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative IronFX Reviews and Complaints
IronFX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative IronFX Review
After Searching internet you will find many negative IronFX Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and IronFX reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by IronFX? How to get your lost money back from IronFX?
The best solution recommended for getting your lost money back from IronFX is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
IronFX Review: Conclusion
To begin with, IronFX is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
Read about a similar scam broker – Etika NFT Trader review
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Note: Report Scam Community has conducted many researches before flagging IronFX as a possible scam in this IronFX Review.Are you planning to trade with IronFX and invest your money? Report Scam suggests you to read this IronFX Review first.Report Scam! as we have experience!