According to Chinese online TV channel waihuiTV IronFX Global Ltd. has been receiving some serious complaints from the Chinese traders about series of questionable services provided by the broker.
Apparently IronFX Chinese clients broke into the broker’s offices in Shanghai and tried to physically hurt the representatives. Moreover, one of the clients threatened to stab the executive if the withdrawal request isn’t processed that instant. Based on the latest rumor, the money has been released to the client mentioned above.
There are reports of other protests and breaking and entering into IronFX offices. The protesters have one thing in common – their money being held by the broker and no way to withdraw it.
Interestingly enough, IronFX claims that there are no such complaints or any formal requests from CySEC (the regulatory body) about the withdrawal issues.
Researching the matter further uncovered that IronFX denied withdrawal requests from almost 150 accounts. The overall sum of all withdrawal requests sums up to over $1.25 million. And over 160 complaints have been filed against IronFX through District Court of Limassol.
Stay tuned to see what happens next. We have a sneaky suspicion that the broker is in trouble.