Fri, 28 Aug 2015 15:22:00 +0400
And it happened. According to the regulator, the decision about investigation activity about IronFX has been made on the basis of corresponding materials in media, as well as numerous complaints, submitted to the Commission by clients of the broker.
"IronFX truly has a great number of awards from various “Forex exhibitions", including the title of “Better Russian Broker of 2014",” comments Evgeny Olkhovski on the situation.
And only one rating of Forex brokers compiled by Masterforex-V Academy warned: IronFX has complaints from traders and is on the 57th place of 3rd (lower) league of Forex brokers, where opening trading deposits is strongly not recommended, as there are numerous complaints from Forex traders.
As broadcast by some media, IronFX has dismissed the total of 50 workers from East European offices, including specialists of support service, which amounts to about 10% from the general working personnel of the company. And around the world, according to information received by WhiteMoon trader in informal atmosphere from one of staff members of the company’s central office in Cyprus , the situation is even more wailsome:
For example, a user of a popular Forex-forum MMGP, where, by the way, IronFX is placed into a category of “Problem ones”, writes the following:
At the same time, the trader admits:
Many other traders agree with him, in their turn saying that when orders go in correct direction in their trade, they are mandatory closed with the explanation “term elapsed”. And nobody explains what “term” and why “elapsed”. As an example one user places a screenshot:
“Earlier,” informs Evgeny Olkhovski, “in May 2014 a trader Alex Trader has placed his pretension about dishonest work of the broker at the same forum:”
More details about steps taken by Dmitry and reasons why he has decided to do more than submit pretension to IronFX, but also initiate a lawsuit against CySEC, can be found at forum for traders of Masterforex-V Academy and MMGP. He was also going to "initiate consideration of the problems on-topic in Ministry of Finance of Cyprus and other institutions". Now let us cite words of the trader about results he has reached:
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In order to trade Forex successfully these days, you should obviously possess the corresponding knowledge and skills, which need to be put into practice effectively. Still, your knowledge base itself without a decent platform to put them into practice is the same as a car without an engine. You can see it shine in the sun, but without an engine it won’t start and move at all.