IronFX are firing their employees

SuperSnake

Junior member
23 4
Hi Guys,

I have heard that IronFX have been firing plenty of their employees. There is a crazy amount of people, like 300-400 and that there are 160 court cases against them in Cyprus... It seems that they are in deep trouble.

Anyone knows what is going on?? Is it true?
 

Pat494

Legendary member
14,499 1,542
The Greek banks are I think in big doodoo. That will impact any Cyprus/Greek enterprises I guess.
Not even the troika clots want to lend them any more money ! My God, I think they have got it at last - it's all going down the drain !!

It remains to be seen if they manage to do a Samson on the rest of the EU banks !

C---RASH
 

Pnty

Junior member
30 3
Has anybody here had any problems with withdrawing larger profits with IronFX? How many days it usually takes with bank wire?
 

highbury fx

Well-known member
338 114
The Greek banks are I think in big doodoo. That will impact any Cyprus/Greek enterprises I guess.
Not even the troika clots want to lend them any more money ! My God, I think they have got it at last - it's all going down the drain !!

It remains to be seen if they manage to do a Samson on the rest of the EU banks !

C---RASH

lol.. you do labour this point. the greek banking system is as separate to cyprus as frankfurts are to ours. if greek banks are in trouble that won't affect cyprus regulated brokers. most of them don't hold client deposits in cyprus, they'll hold them in the uk or germany.
 

billyjean

Active member
120 5
that's strange checking their web headline, they're looking for new AM ( account manager). new recruitment, which means they currently "Hiring". but it's true take much longer than usual to withdrawal, done this with their epayment system for small amount wd.
 

SuperSnake

Junior member
23 4
that's strange checking their web headline, they're looking for new AM ( account manager). new recruitment, which means they currently "Hiring". but it's true take much longer than usual to withdrawal, done this with their epayment system for small amount wd.

They are always "Hiring". To me, it's just a perfect boiler room. Bonuses, offices, regulations, and other b/s just to cover up their scam.
 

SuperSnake

Junior member
23 4
ooooh tell us about the scam..

what are they doing?

Well, it depends on if you are being sarcastic or not...

Basically they are not giving back their clients' or IBs' money back. They have already 160 court cases filled against them in Cyprus.

Isn't that not enough?
 

highbury fx

Well-known member
338 114
Well, it depends on if you are being sarcastic or not...

Basically they are not giving back their clients' or IBs' money back. They have already 160 court cases filled against them in Cyprus.

Isn't that not enough?

are you saying that IronFX are not giving their clients their money back when their clients have requested it?

Are you also saying that IB's that have referred clients to IronFX are not being paid any rebates?

really? that's what you're saying?

160 court cases doesn't mean anything unless there is some proper context to it. It could be for example that 160 people in the same managed account group are taking them to court because IronFX paid them no interest on their unencumbered funds.. you get what i'm saying.. it could be trivial. but not paying back withdrawal requests or paying IB's their rebate commissions is a whole different ball game and i'm not 100% convinced you're right.
 

SuperSnake

Junior member
23 4
are you saying that IronFX are not giving their clients their money back when their clients have requested it?

Are you also saying that IB's that have referred clients to IronFX are not being paid any rebates?

really? that's what you're saying?

160 court cases doesn't mean anything unless there is some proper context to it. It could be for example that 160 people in the same managed account group are taking them to court because IronFX paid them no interest on their unencumbered funds.. you get what i'm saying.. it could be trivial. but not paying back withdrawal requests or paying IB's their rebate commissions is a whole different ball game and i'm not 100% convinced you're right.

It's nothing to do with interest paid on their unencumbered funds.

It is specifically clients that cannot get their funds out, and IBs not receiving their commission and rebates.

Plus them firing 450 of their staff.

If you ask me, that is a big red flag.
 

highbury fx

Well-known member
338 114
It's nothing to do with interest paid on their unencumbered funds.

It is specifically clients that cannot get their funds out, and IBs not receiving their commission and rebates.

Plus them firing 450 of their staff.

If you ask me, that is a big red flag.

I was using the interest as an example that 160 people making a complaint may not be a big as deal as somebody else is trying to make out.

I agree that clients not being able to get their funds out or IB's not receiving their rebates is, on the face of it, a big red flag. yes.

but how do you know this? and how do you know it is affecting all clients and IB;s. Maybe it is just affecting un-regulated IB's who have had some time to show evidence they are regulated but can't because they aren't. or it is 160 clients still debating the fill level on EURCHF... I don't know, that's why i'm asking you to explain if it affects all clients and IB's or just some or just you

rocket surgery this is not..
 

spinola

Established member
614 137
It's also potentially an act of defamtion to make a false claim to others outside of the named party. So , where is the proof that Iron Fx have not honoured repayments to those legally entitled to them ?

Just saying, be careful what you state as fact etc. :)
 

SuperSnake

Junior member
23 4
Answering your questions and comments, I know personally one of the IBs who actually is against them in the court. That is where the info is from. And I tend to believe him more than Iron guys or their bought medias like LeapRate. Check it out yourself. You will see plenty of good stuff written about them right next to or below their advertisement. And then, check some of the hard core websites like FPA. They have heaps of cases of their clients trying to withdraw their profits, or reversing their trades going against them. Surely, you cannot trust FPA completely, but, however, it is a very good indication.

The bottom line, they are a total Ponzi Scheme, a Boiler Room, and the "good news", the offices, hundreds of staff (which are being fired), just a cover up. Damn, even their promotions and prizes are b/s. Just look at how you can claim your prizes in the T&C!

I wonder, what is the percentage of clients' funds do they have available? Or the clients just deposit their funds into Mr. Kashiouris's totally segregated account?
 

spinola

Established member
614 137
Is there a court case number so we can look at the judgements in the matter ? This should be public information etc.
 
 
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