IronFX opened for business in Cyprus in 2010 and has now expanded into more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. IronFX has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues.
The broker’s account diversity is impressive, with a tiered structure that includes floating vs. fixed and commission vs. no commission fee schedules. They round out their services with a variety of professional accounts, introducing broker (IB) branding and a portfolio management program. They recently added cryptocurrency coverage to a broad selection of forex, spot, and CFD trading products. Earlier in 2018, > announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date hasn’t been announced.
IronFX opened for business in Cyprus in 2010 after securing a license from the Cyprus Securities and Exchange Commission (CySEC).
By 2015, the company had offices in London, Sydney and Johannesburg, obtaining licenses to trade from the UK’s Financial Conduct Authority (FCA), Australia’s Securities and Investments Commission (ASIC), and South Africa’s Financial Services Board (FSB).
IronFX has made the news during its relatively short history. It’s made partners of global brands, including FC Barcelona. In 2015, the broker made the headlines for closing down offices in Russia, Germany, Italy, China, Nigeria, and New Zealand, choosing instead to focus its efforts on clients in traditional markets.
In the same year, IronFX found itself under investigation by the CySEC, which culminated in a €335,000 settlement against the broker.
In 2018, IronFX was fined €2,000 by the CySEC for financial submissions failure. The company has since, however, made a concerted effort to be upfront with its operations, demonstrated through their annual pillar 3 transparency disclosures.
In 2019, the company launched a cryptocurrency exchange raising $26 million in the initial coin offering (ICO). In 2021, IronFX technically trades under the name Notesco Financial Services Limited and is registered in Bermuda.
Its financial products and trading platform are accessible in over 180 countries with thousands of users signing in to the platform to trade.