Cyprus Regulated Brokers Warning - ironFX

Feb 22, 2016 at 15:42
2,051 Views
28 Replies
Member Since Mar 29, 2016   10 posts
Apr 01, 2016 at 07:12
Don't know about all CySEC regulated brokers, but ironfx is really too suspicious. I was going to deposit with them once, thanks to another trader who discouraged me from that
Member Since Sep 11, 2015   7 posts
Apr 09, 2016 at 10:37
Gornix posted:
Don't know about all CySEC regulated brokers, but ironfx is really too suspicious. I was going to deposit with them once, thanks to another trader who discouraged me from that

I traded with them for short time and conditions net those claimed in their website. I traded away my small account so no wonder that conditions were good :) About theme of this thread, thanks, gives something worthy to think about.
Now or never, all or nothing
Member Since Dec 11, 2015   1487 posts
Apr 12, 2016 at 09:33
patrickx posted:
mlawson71 posted:
I don't think that CySEC necessarily deliberately tolerates scammers and shady brokers, at least not today. They suspended the license of Pegase Capitals only two weeks ago (https://smnweekly.com/2016/03/07/cyprus-cysec-suspends-forex-broker-pegase-capitals-cif-licence/), so it's possible they've learned their lesson. That said, with their track record, even if they've learned their lesson, it's probably better to put your trust in a regulator like the FCA, at least until they - CySEC - consistently show that they don't doperate that sort of thing.

Yes, I agree, good sign. But still, it will take CySec some time to return back the reputation among traders I'm afraid.

True. The problem is that once lost, trader trust (or anyone's trust, really) is really hard to earn back, especially when money is involved.
Member Since Jun 22, 2015   84 posts
Apr 16, 2016 at 18:30
nice film
HalleyFX
forex_trader_249603
Member Since May 13, 2015   83 posts
Apr 16, 2016 at 22:41
their account managers in London get paid around 25k a year....... enough said about this crap broker!
Member Since Apr 18, 2016   4 posts
Apr 19, 2016 at 06:04
I would never trade with Cyprus regulated broker. Go for FCA or ASIC regulation
Money never sleep
Member Since Apr 19, 2016   11 posts
Apr 19, 2016 at 06:30
I thought that CySEC was a reputable regulation, how could such outcome with IronFX take place if so?..
Member Since Dec 10, 2013   40 posts
Apr 19, 2016 at 07:53
Dave008 posted:
I would never trade with Cyprus regulated broker. Go for FCA or ASIC regulation

100% agree with you. Look at this link, i'm one of the people that posted against Iron fx ending in a guilty verdict.

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

Safa trading to all
Member Since Dec 11, 2015   1487 posts
Apr 19, 2016 at 09:13 (edited Apr 19, 2016 at 09:16)
Ha, speaking of CySEC trying to regain people's trust in them: just last week they decided to toughen up their requirements about the binary options brokers they regulate, and the very same day they announced that the ombudsman of France’s financial regulator AMF released a report on the increasing number of complaints against Cyprus-regulated forex and binary options brokers (https://smnweekly.com/2016/04/14/cysec-tightens-rules-for-binary-options-brokers-while-france-reports-complaints-from-cyprus-regulated-brokers/). Were they trying to do damage control or was it pure coincidence?
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