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Ask Your Advocate: Help, This Broker is Not Honoring My Withdrawal Request

12 Years ago | November 05, 2015 11/27/22, 12:00 AM

Ask Your Advocate: I am not sure what kind of help I could receive from you.  I have an account with Ironfx and submitted withdrawal request last Friday. As of now nothing has happened. I have not gotten any answers from the person who is apparently in charge of my account. He does not pick up the phone and I am also reading about other customers having similar problems. Please advise.

Your Advocate Says: After receiving your email (two days ago) I did a search on the web and came across several articles about others having similar issues with this broker. I do not have a relationship with ironfx so there is no way for me to verify. If anyone reading this article has had a similar experience with this broker, please send me an EMAIL .

Meanwhile, I contacted Ironfx to investigate on your behalf but so far I have not received a reply. In a case like this, I try to using the power of our association to help out and will try again as most brokers do not want negative publicity.

It is hard enough to make money trading that you should not have to worry about getting a withdrawal request satisfied in a timely manner. This is why it is important to do your due diligence by checking out reviews of brokers while keeping in mind that most will tend to be negative so look for trends (such as in this case) rather than one off complaints.

Addendum: I received this from our member today

As of now didn’t receive anything from them. Basically there is only someone on chat answering questions and giving out useless info. Frankly not sure if they still exist but assume they still do since otherwise they wouldn't have chat running.

Thank You for your help.

Jay Meisler, founder

Global Traders Association

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