With Three Unauthorized Trades in Accounts, Investor Accuses IronFX of Being the 'Worst Broker'

The investor claimed that IronFX closed two orders without his permission. And a further ‘created-then-stopped’ resulted in the deduction of over $400.

Trades suddenly closed, profit gone

On November 8, investor Ahmed found three unauthorized trades in his account at IronFX.

According to the screenshot of the trading history provided by the investor, two XAU/USD orders were closed at 4:42pm and 5:01pm on the 18th, resulting in a loss of $368.44.

Not long after, a 0.01 lot of EUR/USD order appeared, with no price offered and “PnL Correction” noted. As a result of this order, $421.26 was deducted from the balance.

Thus, the trader's account ended up with only $500 initial principal, and all previously earned profits were gone.

_{The screenshot of trading history offered by the investor}

It's worth noting that Ahmed just submitted a withdrawal request to IronFX just before the incident.

“This happened immediately after i requested a cash-out from the ironFX web portal.

“They stopped the 2 ongoing traded and created-then-stopped the 3rd one as well to bring the account back to its initial balance (500$) while (789,7 $ is gone).,” he added.

In addition to this, Ahmed claimed that he was unable to get his inicial principal back.

IronFX: Terms&Conditions violated

IronFX sent an email to Ahmed explaining the situation: “Your accounts were trading on price disparities with the purpose of benefiting from a possible pricing arbitrage to the Company's detriment. This comes as a violation of our Trading Terms and Conditions to which the Client has to comply with before opening an account with the Compan.”

The broker additionally pointed out two paragraph of the contract, 7.25 and 27.4.

_{IronFX sent an email to the investor}

Ahmed contacted the support team of IronFX and explained the matter as he disagreed with the content in the email. Although the team said they would contact the client again regarding the situation, no further reply or support follow-up number was given to Ahmed.