IroTradex is a platform claiming to be a Forex / CFD broker, offering the possibility of investing in instruments such as Forex, Commodities, Stocks, Indices and Cryptocurrencies. Unfortunately, IroTradex raises many suspicions that make it similar to SCAMs such as TRS Markets or Monfex.
The broker does not have any regulations, which should give us a lot to think about at the outset. In addition, the company uses disturbing provisions, for example in the rules for withdrawing funds:
In order for the Client’s request for a withdrawal to be met, the written text must comply with the rules set out in the User Agreement. The withdrawal procedure is fully governed by the Company’s terms of service. The company reserves the right to impose limits on the amount that the customer can withdraw for a period of time. The minimum amount that can be withdrawn from IroTradex is specified here. Depending on the number of transactions made by the Client, commission may be charged.
So the broker claims the right to impose withdrawal limits for clients, which should not be the case with a normal broker.
In addition, you can find online reports of people who lost their funds in IroTradex. As it turns out, the scheme of persuading people to make further payments is duplicated with the one used by SCAMs.
If you’ve dealt with this company, share your opinion.
What to do when you’ve been scammed?
Check our guide and if you paid by card try to use a chargeback