Do you know the difference between IronFX UK and IronFX Cyprus?
IronFX has been tagged as a “SCAM” broker since they had an issue with some Arbitrage traders in China.
Just like ACFX, the broker had delayed withdrawal processes to some traders and it developed into a big News.
What happened to ACFX and IronFX?
ACFX had delayed withdrawals to some Chinese arbitrage traders, and its financial license has been suspended from CySEC last month and the regulator has officially announced that it continues to suspend the license this month.(May 2,016)
According to former workers of ACFX, majority of the workers have been dismissed and the broker is not capable of providing financial services in the future.
We are all awaiting for the official announcement of ACFX now.
IronFX had the almost same issue as ACFX, and delayed withdrawals to some Chinese arbitrage traders.
After the official investigation from CySEC, IronFX has paid reconciliation fees(but not fines) to CySEC and the issue has been solved.
Now IronFX is processing withdrawals one by one but some traders need to wait a few months until they receive it.
Who is IronFX UK?
IronFX had the trouble about two years ago. That trouble was occurred from “IronFX Global(in Cyprus) side”.
But IronFX UK is another company name registered and licensed by the Financial Authority in UK.
So the main difference is as below:
| IronFX UK | IronFX Global | |
|---|---|---|
| Country Base | UK (United Kingdom) | Cyprus |
| Financial License | FCA | CySEC |
| Reviews | Recommended | Not really recommended |
These two Brokers are regulated and licensed by different Authorities, but both of them are managed by same management team.
So what is the difference between them? The main difference for Investors is “the Withdrawal Process”.
Why IronFX UK is recommended?
IronFX Global has been known as “not processing withdrawals for its traders”, but it’s is not so true.
IronFX Global is currently taking a month or more to process withdrawals after the request.
But “IronFX UK” is different as:
All withdrawal processes are automated in IronFX UK accounts
It is because of the instruction of the UK Financial Authority, FCA.
With IronFX UK,All trading conditions, bonus promotions are all same as IronFX Global and the only demerit “delays of withdrawal processes” is gone.
If you are interested in trading with IronFX UK, why not open the trading accounts from IronFX UK.
In order to open a trading account with IronFX UK but not with IronFX Global, you just need to go through the account opening process from IronFX.co.uk.
IronFX is ready to conquer the Forex industry again from UK.
