The simple answer to the question of whether there is a Cypriot Financial Ombudsman is yes. The Financial Ombudsman of the Republic of Cyprus is a governmental body which was created to settle financial disputes out of court in a manner that is fair and impartial. It examines IronFX complaints by consumers against financial undertakings in accordance with the law in order to settle them.
This involves any possible disputes that may arise in relation to a bank or electronic money institution, or a legal person who holds a license to provide intermediary services regarding money transfers to and from Cyprus. It can also involve an investment firm or a management of mutual funds firm, or any other person, legal or otherwise, who operate in Cyprus in accordance with a license issued by CySEC or any other authority mentioned above.
IronFX complaints are usually made in the form of a written submission to the agency and involve a dispute or objection regarding a financial undertaking whereby the amount does not exceed that of €170,000.
Clients who deposit funds into an online trading account with IronFX can rest assured that their money is safe and secure with this broker. The company places client fund security at the top of its list of priorities, with the relevant procedures being taken to ensure maximum fund protection. IronFX maintains segregated client accounts, in order to guarantee that client funds are fully separated from IronFX’s own funds at all times. Moreover, each client account has a unique code to ensure that it is used solely for the purpose of client funding. There are strict policies and procedures in place to enable client funds to be completely segregated from the company’s funds, meaning that clients can be confident that their funds are safe. In addition to this, IronFX treats all clients as retail clients, in an attempt to offer the very highest protection.
IronFX is an established, well-regarded global broker with more than 1.2 million clients from countries all over the world. The company has been the recipient of more than 40 prestigious international investing award and offers exceptional customer support across multiple languages 24 hours a day, 5 days a week. Clients have the ability to trade on more than 300 instruments across six asset classes, including forex, metals, indices, commodities, futures, and shares. There is also a comprehensive IronFX trading school, providing a wide range of useful educational resources free of charge.
IronFX has made great strides in addressing any IronFX complaints and helping its customers. Withdrawals are processed within 2 and maximum 10 working days and investors are always advised to contact their account manager or customer support. There is always the possibility of delays, but this might be related to the banking institution or the type of withdrawal method chosen by the client.
In regard to protecting investor funds, the company is required under legislation to take the necessary measures to safeguard clients’ funds and to avoid risking their assets. IronFX has become increasingly aware of such procedures and has recently proven that the brokerage meets legal standards and regulations.
IronFX is regulated in multiple jurisdictions and follows all rules and regulations defined by:
Cypriot Securities and Exchange Commission (CySEC) under license number 125/10
Financial Conduct Authority (FCA) under license number 585561
Australian Securities and Investment Commission (ASIC) under AFSL number 417482
Financial Sector Conduct Authority (FSCA) under licence number 45276