IronFX, (used to be) a leading Forex Broker with huge capital and office, is coming back to be a major player in the Forex industry.

Besides the Chinese traders’ withdrawal issues, the broker does have excellent trading environment and service quality.

Now, there are two IronFX.

IronFX Global in Cyprus

IronFX UK in United Kingdom

Straight to the Point, IronFX Global is NOT recommended, but IronFX UK is recommended for Forex Traders.

The whole story of “IronFX Incident”

There are many misleading information on the web, but some of them are also true.

IronFX may be known as a “SCAM” broker for some traders, since when the broker did halt withdrawal process to some Chinese arbitrage traders.

It was because the group of Chinese traders found a loophole in the conditions of the promotions to earn extra money, but it was believed to be IronFX’s job to take care of such risks.

The CEO of IronFX has mentioned that the trouble was caused by one of its competitors(another broker in Cyprus), but the fact is not yet proved by any Financial Authorities.

IronFX has paid settlement fees to CySEC(the main financial regulator of IronFX) after the official investigation by them.

Now some traders, other than these Chinese traders are also claiming for their withdrawals to be processed, as IronFX is taking a few weeks to months for processing requests.

IronFX used to be growing rapidly acquiring major part of the Forex Market, and the number of withdrawals was huge. That maybe the reason of the delays now.

But the broker is processing withdrawals one by one. We assume that if your withdrawal request is about 3 months ago, it will be processed soon….

IronFX UK: What difference from IronFX Global?

The difference is the Financial Regulation which they have registered.

IronFX Global is regulated by CySEC in Cyprus “www.ironfx.com”

IronFX UK is regulated by FCA in UK “www.IronFX.co.uk“

They also have different websites for each regulations, with almost exact same designs.

So, why the FCA regulated IronFX UK is better?

That is because there is no withdrawal delays on IronFX UK.

Yes, “IronFX Global” and “IronFX UK” are managed by the same people with the same management, but as the regulation is different, your funds are taken care of differently.

Also FCA is quite more strict than CySEC, in terms of rules of fund management and compliance.

IronFX was(still now) one of the most popular broker in the world, because of its excellent trading conditions and support.

If the “withdrawal delay” was the reason why you are hesitating to trade with IronFX, then you may want to try the IronFX UK.

Does IronFX really reject withdrawals?

There are many complains on the web against IronFX though, actually there is no official report that the broker does really reject withdrawal requests.

But since there were so many articles which mention “IronFX SCAM confirmation” kind of stuff, large number of traders requested for withdrawals.

And that is the main reason there is a delay in processing withdrawal right now, according to IronFX.

We heard that some withdrawals took about 4 months to be processed.

Anyway, there is nothing much you can do about it but wait for them to process your requests for now.

IronFX: Used to own the FX market

Other than the same issued discussed on the web, IronFX does have really fine trading conditions.

We believe that it is the reason why IronFX was acquiring large part of the Forex market.

If IronFX UK doesn’t have troubles with withdrawing funds, there is no reason to choose other brokers, because the broker has got one of the best conditions of Forex trading.

ItonFX UK Official Website