Suspicion of violating the company’s Bonus Promotion Terms and Conditions

There are many IronFX complaints found online regarding suspicions of violating the company’s bonus promotion terms and conditions. Similar to most forex brokers found online, IronFX is obliged to adhere to rules and laws for data privacy and protection. For this reason, IronFX puts the security of its clients’ funds as its top priority. The IronFX Group of Companies is made up of investment firms authorised and regulated by the most competent financial authorities from around the world.

 

Regulators include:

 

Financial Conduct Authority (FCA).

Australian Securities and Investments Commission (ASIC).

Financial Sector Conduct Authority (FSCA).

Cyprus Securities and Exchange Commission (CySEC).

 

Bonus reductions

 

It was noticed that some online IronFX complaints have suggested that this broker has removed more bonuses than received and that there was a need to recheck and fight over this accounting error. In fact, all bonuses offered by IronFX as well as any promotion, is always accompanied by the relevant terms and conditions, which are not violated. Also, the broker portrays some informative notifications regarding any actions made such as a withdrawal request. For example, the broker warns clients that, if applicable, any withdrawal of funds from their trading account will result in the proportional removal of their trading bonus.

For example, the below notification is found on top of FasaPay withdrawal request page:


Important Notification

 

  • Ensure to submit your withdrawal request to the same Fasapay account that your deposit originated from.
  • Withdrawal requests for accounts with open positions may be rejected if your free margin is not sufficient.
  • Any withdrawal of funds from your trading account may result in the proportional removal of your trading bonus, if such was initially given.
  • Withdrawal requests are processed by our Back office team within 24 hours unless additional documents / information are required. Once your withdrawal has been approved, it takes few minutes for the funds to reflect on your Fasapay account.

 

This may be the potential reason why sometimes the amount of money appearing on clients’ bank account varies. In the possible scenario of an error, clients can always go ahead and conduct their customer support team or account manager. IronFX is popular for its 24/5 multilingual support, in over 45 languages and to more than 1.2 million clients from around the globe.

 

Available promotions

 

The company constantly updates its list of available bonuses and promotions offered, showing that they try to cater to all clients’ needs and preferences. Currently, there is a live trading competition up and running with a $10,000 prize pool. Also, there is a 100% unlimited sharing bonus, a 40% power bonus up to $4,000 and a 20% iron bonus up to $2,000. Clients have a variety of options to choose to boost their trading experience.

 

Customer Support

 

While there are online negative statements regarding the IronFX customer team, it is best if clients contact them themselves to check immediacy of response. Although such claims could not be substantiated the company states that it offers native customer support in numerous foreign languages, 24 hours a day, 5 days a week. This can also be proven by the fact that the company is rated highly for its customer service offering, in the various review sites. Its customer support team is widely praised for its efficiency while the account managers are often described as and helpful and supportive. Therefore, it seems that the IronFX broker is a reliable broker, in terms of abiding by any terms and conditions regarding bonuses and promotions.

 

Licences and regulations

 

Accusations around licences and regulations regarding IronFX are floating online. However, there is no proof that they have added further weight to the IronFX complaints theories. The broker abides by the applicable international and European regulatory standards. When selecting a forex broker to trade with, traders should check whether they are regulated. This is a crucial step to take before registering and opening a live trading account with the broker.