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Is it a broker from Switzerland?
usman zafar
India
2023-04-24
ANSWER Iron Gates FX is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.Iron Gates FX claims to be trusted but provides zero details about its regulatory status, which is a clear indication of an unlicensed broker, as legitimate ones always prominently display their accreditation and licenses. In addition, this broker claims to be located in Switzerland. As per the local law, brokers operating in this country must be authorized and regulated by the Financial Market Supervisory Authority (FINMA). However, the FINMA has issued a warning against Iron Gates FX, stating that it is not entered in its commercial register. You can check the full warning here.Regarding your question, Iron Gates FX is not a regulated broker and its location may not even be real. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Iron Gates FX and opt for fully regulated ones instead.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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