What I don’t understand is how come a company which has been rocked by scandals, which has been accused of fraud and basically being a Ponzi scheme, just merges with another company and plans to get listed on the NASDAQ index. How does that happen. There are so many complaints against them, why isn’t it being investigated?
Here is an article which appeared in [I]Finance Magnates[/I] just yesterday —
Exclusive: IronFX Withdrawal Delays – a Story of a $176m Client Money Hole
Form your own opinion on the facts of this matter, before you read my opinion.
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Here’s my take on the IronFX scandal:
[I]IronFX has been under investigation[/I] by CySEC, the financial regulator in Cyprus, [I]for a couple of years.[/I]
The problem seems to be that B[/B] IronFX has a large presence in Cyprus, B[/B] CySEC is a relatively weak regulator, leery of creating a financial crisis in Cyprus by crippling a [I]too-big-to-fail[/I] broker, and B[/B] IronFX has been successful in deflecting the regulator’s attempt to obtain legitimate audit information.
The problems at IronFX seem to stem from their aggressive bonus program, which had some tricky provisions embedded in the fine print. Customers who hadn’t paid sufficient attention to the fine print were not able to withdraw bonus money they thought they were entitled to, and they claimed fraud. IronFX took the position that those customers failed to comply with the fine print in the bonus program, and therefore had no grounds for complaint or legal action against the broker. And IronFX has — until recently — effectively stone-walled CySEC, the Cyprus regulator.
In my opinion, deposit bonuses — with or without sneaky fine print — are a pretty shabby marketing tactic. Brokers who resort to bonuses to attract new customers are just asking for trouble in the form of disgruntled customers, bad reviews, complaints to regulators, and lawsuits.
But, a lot of brokers use bonuses as a “hook”, and will probably continue to do so, unless and until regulators put a stop to them.
Your thoughts?
Edit 12/29/2016 – Here is the IronFX response to the CySEC audit
(which is detailed in the [I]Finance Magnates[/I] link at the top of this post) —
Exclusive: IronFX Responds to CySEC Audit Revelations
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Finally i got my investment and more back from ASKOPTIONS, they already ruined everything up for me, i never ever thought i will get my money from this scam binary company, its a long story how i met hector.gonzalz at hackermail dot com but he helped me get all of my money back. I would recommend his contact if your a trader seeking to get your binary option investment back from your broker
You can ask me and I will give you the necessary link if needed to make a claim for money withdrawal.
You can withdraw funds if you will sue the broker.
And after that you should be careful with the broker you want be in work with.
List of good and “white” brokers can be found there TopBrokers.com
They provide the latest info and in case of some problems with broker you will be informed and assist if needed.
Interesting news from Finance Magnates regarding IronFX:
http://www.financemagnates.com/forex/brokers/european-parliament-discuss-petition-ironfx-july-11/
They have been known to trouble clients, so I am not surprised one bit. I believe you need to do a lot of research before joining any company or else it will trouble us later on. If we join blindly then these types of issues are going to be very common.
I was tempted investing almost all my life savings in binary options for the sake of getting it multiplied. I was so scammed in the process, couldn’t get my principal investment not to talk of the bonuses. I tried hiring lawyers to help me but it was just waste of time and money, they were unable to help, it was so fruitless. God so good to me, I met with a professional that ended up recovering my money for me from these scumbags, it was worth it paying 10% and I was glad I got my money back. You can contact me privately on dadong04 at mail dot com if you have same issue, I’d be glad to refer you to this professional, would have love to drop his contact here but I can’t for some reasons. I’d like to reach so many people in this situation, binary options are bunch of scammers, we shouldn’t let them succeed in ripping us off of all our hard earned money
The Cyprus-based FX brokerage firm, IronFX Group, confirmed that it plans to launch its cryptocurrency exchange later this year. However, the announcement added that the platform is currently awaiting approval from Gibraltar’s regulatory agency for fintech firms utilizing blockchain.
Hello Cristiano, I also lost over 5000€ with IronFX due to not being able to withdraw my earnnings and in the end I decided to start trading again with another broker in order to recover some of the losses. The new broker is called AG Markets. Suprisingly enough the new broker after 5-6 months of successful trading, they are now playing the same game as IronFX. I can’t withdraw anything and I’m scared I have lost all my savings 
Is it!! How possible?
Looks like this is not related to IronFX but thanks for your warnings.
very helpful as a whole, offered marketing tools and valuable advice or email marketing and how to develop a good brand awareness campaign