IronFX is a forex and CFD brand founded in Limassol in 2010 and controlled by Markos Kashiouris. International clients deal with Notesco (BVI) Limited (BVI FSC), EU clients with Notesco Financial Services Limited (CySEC) and UK clients with Notesco UK Limited (FCA); Notesco SA (Pty) Ltd holds an FSCA licence in South Africa. The international business was earlier run by Notesco Limited of Bermuda.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| British Virgin Islands Financial Services Commission (FSC) | SIBA/L/24/1175 | Notesco (BVI) Limited | Authorised Checked 11 Feb 2026 | Register entry for Notesco (BVI) Limited (opens in a new tab) 6 |
| Cyprus Securities and Exchange Commission (CySEC) | 125/10 | Notesco Financial Services Limited | Authorised Checked 7 Oct 2026 | Register entry for Notesco Financial Services Limited (opens in a new tab) 3 |
| Financial Conduct Authority (FCA) | 585561 | Notesco UK Limited | Authorised Checked 4 Oct 2026 | Register entry for Notesco UK Limited (opens in a new tab) 4 |
| Financial Sector Conduct Authority (FSCA) | FSP 45276 | Notesco SA (Pty) Ltd | Authorised Checked 7 Oct 2026 | Register entry for Notesco SA (Pty) Ltd (opens in a new tab) 5 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
IronFX’s companies in the British Virgin Islands, Cyprus, the UK and South Africa appear on their regulators’ registers; we read the British Virgin Islands entry from an archived copy, and it lists the international company for arranging deals while its terms say it deals with clients as principal. The UK and international terms segregate client money and offer negative balance protection. UK clients also have the FSCS and the Financial Ombudsman Service, while international clients have no compensation scheme or independent dispute body. Audited UK accounts name Markos Kashiouris as the ultimate controlling party. CySEC settled with the Cyprus company for €100,000 in 2024 over the retail CFD restrictions and for €335,000 in 2015, and regulators in Japan, British Columbia, Spain, India, Malaysia and Anguilla have warned about IronFX or its group companies. From our location the ironfx.com website no longer loads, and the EU site is behind a bot check.
We matched Notesco Financial Services Limited on CySEC’s register, Notesco UK Limited on the FCA’s list and Notesco SA (Pty) Ltd on the FSCA’s FSP search, and found Notesco (BVI) Limited on the BVI FSC’s list in an archived copy of February 2026. Notesco Limited of Bermuda, named as the operator of ironfx.com in regulators’ warnings of 2019 to 2022, is not on the Bermuda Monetary Authority’s list, and IronFX no longer names it.
The licences IronFX names on its international and UK sites, for Notesco (BVI) Limited, Notesco UK Limited and the group’s Cyprus and South African companies, match the registers. The BVI register shows no licence number, so the number is IronFX’s own.
The international site and its terms name Notesco (BVI) Limited as the provider of services, the UK site and terms name Notesco UK Limited, and the international site says it is not directed at EU residents.
The UK terms hold client money under the FCA’s client money rules in segregated accounts, with no title transfer for retail clients, and the international terms place client money in segregated client accounts, although both allow it to be passed to an intermediate broker or exchange as margin. We could not read the Cyprus company’s terms.
The UK company’s audited accounts name 8Safe International Limited (BVI) as its sole shareholder and Mr M Kashiouris as the ultimate controlling party, and Companies House registers Markos Andreas Kashiouris as holding 75% or more of the shares and votes. The accounts say the Cyprus company is under common ownership.
Reduced the enforcement dimension by 10 points (moderate severity, 2.7 years before the review).
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Reduced the enforcement dimension by 2 points (low severity, 1.8 years before the review).
Reduced the enforcement dimension by 2 points (low severity, 1.4 years before the review).
Reduced the enforcement dimension by 1 points (low severity, 4 years before the review, counted at half weight).
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 12345678
We matched Notesco Financial Services Limited on CySEC’s register, Notesco UK Limited on the FCA’s list and Notesco SA (Pty) Ltd on the FSCA’s FSP search, and found Notesco (BVI) Limited on the BVI FSC’s list in an archived copy of February 2026. Notesco Limited of Bermuda, named as the operator of ironfx.com in regulators’ warnings of 2019 to 2022, is not on the Bermuda Monetary Authority’s list, and IronFX no longer names it.
Permissions cover the services offered 346910
CySEC authorises the Cyprus company to deal on own account and execute orders in all instrument classes, and the UK company says it is permitted to deal as matched principal, which the FCA’s published list does not show. The BVI FSC lists Notesco (BVI) Limited, which serves international clients, for arranging deals in investments, while its terms say it deals with clients as principal and counterparty.
Regulatory claims on the website are accurate 123456
The licences IronFX names on its international and UK sites, for Notesco (BVI) Limited, Notesco UK Limited and the group’s Cyprus and South African companies, match the registers. The BVI register shows no licence number, so the number is IronFX’s own.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 1213
The UK company’s audited accounts name 8Safe International Limited (BVI) as its sole shareholder and Mr M Kashiouris as the ultimate controlling party, and Companies House registers Markos Andreas Kashiouris as holding 75% or more of the shares and votes. The accounts say the Cyprus company is under common ownership.
Group structure is explained 1213
IronFX names the company that serves each site and says that group companies are regulated in the UK, South Africa and Cyprus, but it does not explain how the companies are owned; the group of 8Safe and Notesco companies in Cyprus, the British Virgin Islands, Bermuda, Anguilla and elsewhere appears only in the UK company’s accounts.
Financial statements are available 111314
The UK company files audited accounts, most recently for 2025, and publishes prudential disclosures, and the Cyprus company published Pillar 3 disclosures for 2023 showing a capital adequacy ratio of 282%. We found no financial statements for Notesco (BVI) Limited, which serves international clients.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Client money segregation is disclosed 91013
The UK terms hold client money under the FCA’s client money rules in segregated accounts, with no title transfer for retail clients, and the international terms place client money in segregated client accounts, although both allow it to be passed to an intermediate broker or exchange as margin. We could not read the Cyprus company’s terms.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 18 points.
CySEC settles with Notesco Financial Services for EUR 100,000 over retail CFD restrictions 17
29 Jan 2024. Reduced the enforcement dimension by 10 points (moderate severity, 2.7 years before the review).
CySEC settles with IronFX Global for EUR 335,000 after investigating its conduct and order execution 34
18 Nov 2015. Not counted: more than 10 years old at the review date.
Brazil’s CVM orders IronFX to stop offering forex to Brazilian residents 35
19 Aug 2015. Not counted: more than 10 years old at the review date.
ASIC has IronFX correct claims that its Cyprus business was regulated in Australia 36
17 Dec 2015. Not counted: more than 10 years old at the review date.
Warned by Japan’s Financial Services Agency in 2012 and 2020 for derivatives business without registration 18
1 Mar 2020. Reduced the enforcement dimension by 0.5 points (low severity, 6.6 years before the review, counted at a quarter of its weight).
On the British Columbia Securities Commission’s investment caution list 19
13 Dec 2019. Reduced the enforcement dimension by 0.5 points (low severity, 6.8 years before the review, counted at a quarter of its weight).
Spain’s CNMV warns that Notesco Limited (ironfx.com) is not authorised 8
10 Oct 2022. Reduced the enforcement dimension by 1 points (low severity, 4 years before the review, counted at half weight).
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 20
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Listed on the Securities Commission Malaysia Investor Alert List 21
1 Jan 2025. Reduced the enforcement dimension by 2 points (low severity, 1.8 years before the review).
Cyprus Consumer Protection Service finds IronFX’s bonus clause unfair, according to press reports 37
17 Jan 2018. Shown but not counted: it is not yet supported by a regulator, court or official record.
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent dispute resolution is available 242526
UK clients can use the Financial Ombudsman Service, which covers the UK company, and clients of the Cyprus company can go to the Financial Ombudsman of Cyprus. Clients of Notesco (BVI) Limited can only refer complaints to the competent authorities, and no independent dispute body is named.
Independent complaint outcomes show no adverse pattern 25
The ombudsman published no decisions about Notesco UK Limited in the three years to October 2026, too few to judge outcomes.
Complaint data is disclosed 27
We found no complaint statistics published by IronFX, and its UK company is below the thresholds for the FCA’s and the ombudsman’s firm-level tables.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
An address and working contact channels are published 1101231
The UK terms give the Tower 42 address, which matches Companies House, and telephone numbers and emails are published. The international site gives only its registered agent’s post box, and in October 2026 the ironfx.com website and client portal did not load from our location.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
British Virgin Islands Financial Services Commission (FSC) · Reference SIBA/L/24/1175 6
Arranging deals in investments
Read from an archived copy of the FSC’s register entry taken on 11 February 2026, because the FSC’s website refuses our requests. The entry lists the entity type as arranging deals in investments and shows no licence number; SIBA/L/24/1175 is the number IronFX gives.
Cyprus Securities and Exchange Commission (CySEC) · Reference 125/10 3
Reception and transmission of orders, execution of orders and dealing on own account in instrument classes 1 to 10; safekeeping and investment research as ancillary services
Licence granted on 16 November 2010.
Financial Conduct Authority (FCA) · Reference 585561 4
First authorised on 17 June 2013. The company says it is permitted to deal as agent or as principal, limited to matched principal transactions; the FCA’s published list does not show permissions.
Financial Sector Conduct Authority (FSCA) · Reference FSP 45276 5
Category I: advice and intermediary services in shares and derivative instruments
Authorised since 15 July 2014, trading name IRONFX SA.
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes Iron Fx (www.ironfx.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
On 15 May 2025 the Anguilla Financial Services Commission issued an investor alert that NOTESCO INT Limited, trading as IronFX, is not licensed, and has never been licensed, by the Commission to carry on financial services business in instruments such as forex CFDs, spot metals, futures, shares, spot indices and commodities. Notesco Int Limited is an Anguilla group company of the IronFX companies.
The Securities Commission Malaysia’s Investor Alert List includes “IronFX” (www.ironfx.com/en/ and IronFX’s Instagram and Facebook pages) for carrying on unlicensed capital market activities of dealing in securities. The list records the entry under the year 2025 without a specific date; we use 1 January 2025. The entry was on the list when it was downloaded on 4 October 2026.
On 29 January 2024 CySEC agreed a settlement of €100,000 with Notesco Financial Services Ltd, IronFX’s Cyprus company, for a possible breach, examined in an inspection during 2023, of Article 42 of Regulation (EU) No 600/2014 as specified in CySEC Directive DI87-09, which restricts the marketing, distribution and sale of CFDs to retail clients. The company paid. CySEC announced the settlement on 2 April 2024.
On 10 October 2022 Spain’s Comisión Nacional del Mercado de Valores warned the public that Notesco Limited, operating www.ironfx.com, is not authorised to provide investment services, including investment advice, or the related ancillary services, including foreign currency transactions, in Spain.
Japan’s Financial Services Agency warned IronFX Limited of Limassol on 14 June 2012, under the service name “ironforex”, and Notesco Limited of Hamilton, Bermuda, in March 2020, under the service names “IronFX”, “FXGiants” and “FXlift”, for offering or soliciting over-the-counter derivatives trading over the internet without registration in Japan. The list gives the month only for 2020; we use 1 March 2020.
On 13 December 2019 the British Columbia Securities Commission added Notesco Limited, doing business as IronFX, to its investment caution list after learning that IronFX had accepted funds from a resident of the province, where it is not registered to trade in, or advise on, securities or exchange contracts.
Finance Magnates reported on 17 January 2018 that the Director of Cyprus’s Consumer Protection Service had decided, after an investigation, that a term in IronFX’s client agreement giving the company sole discretion to refuse, withhold or withdraw bonus payments was unfair. We could not find the decision itself, so this rests on press reports and does not affect the score; we use the report’s date.
On 4 December 2017 CySEC fined Iron FX Global Ltd, now Notesco Financial Services Ltd, €2,000 under section 114 of the Investment Services Law because it did not submit its audited solo financial statements for 2016 within the legal deadline; it filed them on 15 September 2017. CySEC announced the fine on 27 June 2018. CySEC’s list of decisions shows that the company applied for judicial review and no ruling is published, so this is not counted.
In January 2015 about 160 complaints by Chinese clients and introducing brokers were filed against IronFX in the District Court of Limassol over refused withdrawals from more than 150 accounts holding about USD 1.25 million, according to Finance Magnates; IronFX said it had limited withdrawals linked to promotions while investigating abusive trading. In February 2016 Hungary’s central bank said it had received about 120 complaints that IronFX Global Ltd was not paying out customers’ money and referred them to the Financial Ombudsman of Cyprus. We found no court ruling or ombudsman decision on these complaints, so they are recorded as allegations and do not affect the score.
On 17 December 2015 ASIC said that, after it raised concerns, IronFX Global Australia Pty Ltd had removed statements from www.ironfx.com and from the Cyprus disclosure document that gave the impression the Cyprus company’s services were regulated by ASIC, and had updated its product disclosure statement to say that its sole hedging counterparty was the Cyprus parent, with which it hedged every client trade, generally using all client money to fund those positions. The outcome is more than ten years old and no longer affects the score.
After announcing an investigation on 6 August 2015, CySEC decided on 2 and 18 November 2015 to settle with IronFX Global Ltd, now Notesco Financial Services Ltd, for €335,000 over possible breaches of the conditions of its authorisation, of its conduct of business obligations and of the duty to obtain the best possible result when executing client orders. The company paid, and CySEC announced the settlement on 27 November 2015. The settlement is more than ten years old and no longer affects the score.
By Ato Declaratório CVM 14.375 of 10 August 2015, announced on 19 August 2015, the CVM declared that IronFX was not authorised to take on clients resident in Brazil and ordered it to stop offering forex investment opportunities immediately, including through www.ironfx.com, with a daily fine of R$1,000 for non-compliance. The order is more than ten years old and no longer affects the score.
Firms can respond to their profile and to any finding. No response has been published for IronFX. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 7 Oct 2026 | Trust score 82 out of 100 Strong | 1.2 | Current |
No corrections have been made to this profile.
Internet Archive copy taken on 20 September 2026; from our location every ironfx.com address now points to the local machine (127.0.0.1). The footer says IronFX is a trade name of Notesco (BVI) Limited, authorised by the BVI Financial Services Commission under investment business licence SIBA/L/24/1175, registered at PO Box 4301, Road Town, Tortola; that NBV Management Ltd of Spyrou Kyprianou 68, Germasogeia, Limassol facilitates payment services; and that services on the site are provided by Notesco (BVI) Limited and not by any affiliate. A notice says the site is not directed at EU residents. The risk warning says it is possible to lose all your capital.
Internet Archive copy taken on 20 October 2025; ironfx.co.uk also points to the local machine from our location. The footer says IronFX is a trade name of Notesco UK Limited, authorised by the FCA (585561), and the risk warning says 63.91% of retail investor accounts lose money when trading CFDs with this provider. The page says that different entities in the group are authorised and regulated by the FCA, the FSCA in South Africa and CySEC.
Licence 125/10 granted on 16 November 2010, company registration 260651, previous names IronFX Global Limited and IronFX Limited, address 2 Iapetou Street, Agios Athanasios, Limassol. Services: reception and transmission of orders, execution of orders and dealing on own account in instrument classes 1 to 10, with safekeeping, credit, foreign exchange and investment research as ancillary services, passported across the EEA. Approved domains: www.ironfx.eu and www.fxlift.eu.
Shows Notesco UK Limited (FRN 585561, LEI 213800N8F8XBQEVWPB58), first authorised on 17 June 2013, with status Authorised.
The FSP search lists NOTESCO SA (PTY) LTD, trading name IRONFX SA, registration 2014/052812/07, as an authorised financial services provider under number 45276 since 15 July 2014, at Nelson Mandela Square, Sandown, Johannesburg, approved for advice and intermediary services in Category I shares and derivative instruments.
Internet Archive copy, taken on 11 February 2026, of the FSC’s entry, read because the FSC’s website refuses our requests (Cloudflare block). It lists Notesco (BVI) Limited with entity type “Arranging Deals in Investments” and status “Currently Regulated”. It shows no licence number.
The list of regulated entities downloaded on 4 October 2026, which includes investment businesses, does not include Notesco Limited or IronFX.
Warning of 10 October 2022 that Notesco Limited (www.ironfx.com) is not authorised to provide investment services, including investment advice, or the related ancillary services, including foreign currency transactions, in Spain.
Terms of Notesco (BVI) Limited (BVI company 2112827, Trinity Chambers, PO Box 4301, Road Town; FSC licence SIBA/L/24/1175), version 2025/002 of 21 November. The company deals with clients as principal and counterparty, and as agent for STP-ECN accounts. Clients are not required to cover losses beyond their invested capital under a negative balance protection policy. Client money is placed in segregated client accounts, but may be passed to an exchange, clearing house or intermediate broker for transactions or as collateral and held in omnibus accounts; payments may be processed by CIFOI Limited of Gibraltar, owned by Notesco Int Limited. Leverage levels are set on the website and may be changed without notice; positions are closed at 50% of margin on STP accounts and 20% on others. Withdrawals are generally processed within three business days. Inactive accounts pay USD 50 a year, and a 3% administration fee may apply to deposits withdrawn without trading. Currency is converted at the rate applied on the day, with no stated charge. Complaints go to customer support and then compliance. The agreement may be amended by notice in writing or on the website, without a minimum period. BVI law and courts apply.
Terms of Notesco UK Limited (company 8111366, FCA 585561, Tower 42, 25 Old Broad Street, London), version 2025/003 of 5 August 2025. The company is authorised to deal as agent or as principal limited to matched principal transactions, and deals with clients as counterparty. Client money is held under the FCA’s client money rules in segregated client accounts, with no title transfer for retail clients, though it may be passed to an intermediate broker or exchange for transactions or margin. Clients are not required to cover losses beyond their invested capital. Retail leverage is capped from 30:1 on major currency pairs to 5:1 on shares, with a 50% margin close-out. Inactive accounts pay USD 50 a year. The company is a member of the FSCS (up to £85,000). Complaints go to the compliance officer under the complaints handling policy. Amendments are notified in writing or on the website, without a minimum period.
Internet Archive copy taken on 29 November 2025; ironfx.eu itself sits behind an Incapsula check. Says IronFX is a trade name of Notesco Financial Services Limited (HE260651, CySEC 125/10), incorporated on 12 January 2010, whose non-operational subsidiaries are IRONFX Global companies in New Zealand, Ukraine, Russia and Japan. Its board had two executive and two independent non-executive directors, who are not named, and its capital adequacy ratio was 282% at the end of 2023.
Incorporated on 19 June 2012 as IronFX UK Limited, renamed IronFX Global UK Limited in August 2013, 8Safe UK Limited in November 2015 and Notesco UK Limited in October 2018. Registered office Tower 42, 25 Old Broad Street, London EC2N 1HN. Directors: Andrew Raikes Hargreaves and Ioanna Papageorgiou. Markos Andreas Kashiouris has been the person with significant control, with 75% or more of the shares and votes, since 6 April 2016; Petros Economides ceased to be one on 4 April 2019.
Filed on 29 April 2026 and audited by Fisher, Sassoon & Marks, which gave an unqualified opinion. The company deals as matched principal, holds client money as an FCA-regulated firm and made a profit of USD 170,995. Its parent, with 100% of the shares, is 8Safe International Limited (BVI), and Mr M Kashiouris is the ultimate controlling party through his majority shareholding in it. Related parties include Notesco Financial Services Ltd (common ownership, USD 2.05 million of service fees), the group companies Notesco Int Limited (Anguilla), Notesco Ltd (Bermuda), Noteris Services Ltd (Cyprus) and others.
Regulatory disclosures for the year ended 31 December 2024 on governance, risk management and own funds. The board has one executive and one non-executive director. Own and client funds are kept at highly rated banks in several jurisdictions, which are not named.
The Fund, of which Cyprus investment firms are members, covers claims of covered clients against a member that cannot meet its obligations, up to the lower of 90% of the covered claims and €20,000.
Internet Archive copy taken on 20 October 2025. Says IronFX has collected over 40 prestigious industry awards and is trusted by 1.2 million retail clients from over 180 countries, without naming the awards or a source, lists cards, bank wire, Skrill, Neteller and FasaPay for funding, and says deposits and withdrawals carry no charges.
Announced on 2 April 2024: on 29 January 2024 CySEC reached a settlement of €100,000 with Notesco Financial Services Ltd for a possible breach, examined in an inspection during 2023, of Article 42 of Regulation (EU) No 600/2014 as specified in CySEC Directive DI87-09 restricting the marketing, distribution and sale of CFDs to retail clients. The company paid.
Lists Notesco Limited, Veritas Place, 65 Court Street, Hamilton, Bermuda, warned in March 2020 for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service names “IronFX”, “FXGiants” and “FXlift”, and IronFX Limited (ironforex) of 30 Gr. Xenopoulou Street, Limassol, warned on 14 June 2012.
Published on 13 December 2019: IronFX, which says it is registered in Bermuda, accepted funds from a British Columbia resident and is not registered to trade in, or advise on, securities or exchange contracts in British Columbia.
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 42 is Iron Fx, https://www.ironfx.com.
Includes an entry dated 2025 for “IronFX” (www.ironfx.com/en/ and IronFX’s Instagram and Facebook pages) for carrying on unlicensed capital market activities of dealing in securities.
Alert of 15 May 2025: NOTESCO INT Limited, trading as IronFX, is not licensed, and has never been licensed, by the Commission to carry on financial services business in instruments such as forex CFDs, spot metals, futures, shares, spot indices and commodities.
On 7 October 2026 we searched CySEC’s 1,173 board decisions (2014 to October 2026), the CVM’s declaratory acts, KNF’s lists, the Bank Negara Malaysia, Securities Commission Malaysia, Reserve Bank of India and Japan FSA lists, the FCA’s warnings and Companies House, and ran web searches for actions by ASIC, the BMA, the FSCA, CNMV, Consob, the Canadian regulators and others, for IronFX, Notesco, 8Safe and their former names. The findings on this profile are what we found. Clone and look-alike warnings, such as the FCA’s warning about IroneFX (ironefx.com, 2021), are not findings about IronFX.
Internet Archive copy taken on 2 December 2025 of version 2025/001 of 13 October 2025. Complaints go to compliance.bvi@notesco.com, are acknowledged within five business days and receive a final response within eight weeks; a client who is still dissatisfied may refer the complaint to the competent authorities. No independent dispute body is named.
Between 4 October 2023 and 4 October 2026 the ombudsman published no decisions about Notesco UK Limited, or about it under its former name IronFX Global UK Limited.
Press release of 22 February 2016: the Hungarian central bank had received about 120 consumer complaints, some 50 of them in February, that IronFX Global Ltd, which served Hungary cross-border from Cyprus, did not make payments customers asked for. As the firm falls under CySEC, it referred clients to the Financial Ombudsman of Cyprus.
Neither dataset includes Notesco UK Limited; both publish firm-level figures only above minimum complaint volumes.
Internet Archive copy taken on 18 June 2026. Compares the account types: leverage up to 1:2000 on the standard accounts, 1:1000 on Raw ECN and 1:200 on ECN VIP, stop-out at 20% or 50%, average spreads, which accounts pay commission, and that fixed spreads become floating during the midnight session.
Version 2025/001. The company always acts as principal and is the sole execution venue, which is not a regulated market or a multilateral trading facility; the policy explains the execution factors, account types and costs.
Internet Archive copy taken on 2 December 2025. Lists the terms of business, anti-money laundering policy, privacy policy and complaint handling policy that clients should read before opening an account, with links to shared.gighl.com and shared.ironfx.com.
Internet Archive copy taken on 20 October 2025. Gives customer support and trading desk telephone numbers and email addresses and live chat, but no postal address.
Announced on 27 June 2018: on 4 December 2017 CySEC fined Iron FX Global Ltd, now Notesco Financial Services Ltd, €2,000 for non-compliance with section 114 of the Investment Services Law. CySEC’s decisions list marks the decision as under judicial review and shows no ruling.
The Greek text gives the reason: the company did not submit its audited solo financial statements for 2016 to CySEC within the legal deadline, and did so on 15 September 2017; CySEC took into account that it had not committed a similar breach before.
Announced on 27 November 2015, following CySEC’s announcement of 6 August 2015: on 2 and 18 November 2015 CySEC agreed a settlement of €335,000 with IronFX Global Ltd over possible breaches of the conditions of its authorisation, of its conduct of business obligations and of the duty to obtain the best possible result when executing client orders. The company paid.
Alert of 19 August 2015 announcing Ato Declaratório CVM 14.375 of 10 August 2015: IronFX is not authorised to take on clients resident in Brazil and must immediately stop offering forex investment opportunities, including through www.ironfx.com, with a daily fine of R$1,000 for non-compliance. The act itself is published at conteudo.cvm.gov.br.
Media release of 17 December 2015. After ASIC raised concerns, IronFX Global Australia Pty Ltd removed statements from the website of its Cyprus parent, IronFX Global Ltd (www.ironfx.com/en), and from the Cyprus disclosure document that gave the impression the Cyprus company’s services were regulated by ASIC, and updated its product disclosure statement to say that its sole hedging counterparty was the Cyprus parent. ASIC noted that IronFX Australia hedged each trade with the parent and generally used all client money to fund those positions.
Reports that the Director of Cyprus’s Consumer Protection Service decided, after an investigation, that a term in IronFX’s client agreement giving the company sole discretion to refuse, withhold or withdraw bonus payments was unfair, and notes that brokers are supervised by CySEC.
Reports that about 160 complaints by Chinese clients and introducing brokers were filed against IronFX in the District Court of Limassol on 22 January 2015 over refused withdrawals from more than 150 accounts holding about USD 1.25 million. IronFX’s chief executive said withdrawals linked to promotions had been limited while abusive trading was investigated.
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