The Brazilian CVN has issued a warning against IronFx

The Brazilian CVM is the Securities and Exchange Commission in Brazil and back in 2015 it issued a warning against IronFX regarding its operation in the country. According to articles online the Brazilian Securities and Exchange Commission (CVM) issued a warning to the public against the broker saying that the firm was not licensed by local authorities. The regulation of the forex and financial markets in Brazil is carried out by the Central Bank of Brazil and the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários – CVM). The bank is responsible for the regulations and oversees the activities of forex brokers.  The Central Bank is the one that provides the license so that brokers can offer their services in Brazil. On the other hand, the CVM ensures that over-the-counter financial markets and exchanges operate properly. CVM also provides investor protection against fraud, and issues warnings against unregulated forex brokers, investigating irregularities and imposing sanctions. In general, trading forex in Brazil is highly regulated. An ironfx review mentions this, but it is unclear if anything has resulted out of this. Since the market is highly regulated several brokers have been issued various warnings throughout the years.

 

Brazil’s CVM and broker licence

 

While an ironfx review has referred to Ironfx’s warning by the Brazilian watchdog, more recently Finance Magnates have reported a similar story regarding Pepperstone Group. The Brazilian Securities and Exchange Commission issued a Stop Order against the Australian-headquartered broker Pepperstone Group. The CVM alleged that the broker operated in Brazil without the proper authorisation. A spokesperson of the Pepperstone Group who spoke to Finance Magnates said that the broker was not licensed in Brazil and did not claim to be. They said that they did provide language support in Portuguese, but they do not conduct any business activities in Brazil, nor do they market their products to target Brazilian residents.

 

Despite an ironfx review claiming that IronFX has used unauthorised action in certain jurisdictions, the company like other brokerages, complies with legal and regulatory requirements which are of paramount significance for them. As Pepperstone stated, they have onboarded clients who themselves initiated a business relationship with the broker by way of reverse solicitation.

 

IronFX respects international and local rules and regulations and has initiated contact with various legal bodies and organisations where it was appropriate to better understand any concerns and resolve any potential issues.

 

IronFX broker is reliable

 

The broker is regulated and licensed to operate in different jurisdictions and as such it is reliable and trustworthy. It is completely safe and secure to open a trading account with the broker and clients can access all the necessary information they want online. IronFX is committed to the highest business standards by complying with national and international regulatory authorities. Trading with a regulated investment firm, means that daily transactions can be processed with security and safety at all times. IronFX has taken the necessary measures to deliver products and services that meet regulatory and industry standards and will continue to do so. From its state-of-the-art software to its exclusive promotions and flawless platforms, the international broker has remained committed to offering one of the most competitive products in the financial and forex sector. Leading brokers such as IronFX, understand that they need to respect local regulations, they do not want to sacrifice their reputation and brand image. Being respectful to the law, also gives these brokers the validity and transparency they need to continue serving their millions of clients.