IronFX is a long-running forex and CFD broker that holds an FCA license in the UK and a CySEC license in Europe, but runs its bonus offers through an offshore BVI entity. It markets a ladder of deposit bonuses: an uncapped 100% Sharing Bonus, a 40% Power Bonus capped at $4,000, and a 20% Iron Bonus capped at $2,000. All are non-withdrawable credit, and the Sharing Bonus in particular caps withdrawals at half your account balance, so the broker keeps part of your own deposit and profits unless you win big.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
IronFX
IronFX credits a 100% Sharing Bonus on your deposit as non-withdrawable trading funds, with no cap on the amount, but profits made on it are split 50/50 with the broker on withdrawal.
IronFX
IronFX adds a 40% non-withdrawable credit bonus on deposits of US$500 or more, capped at US$4,000 per client, that boosts margin but can never be cashed out.
IronFX
IronFX adds a 20% notional credit on each qualifying deposit, capped at US$2,000, to boost your trading margin, but the credit itself is never withdrawable.
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IronFX was registered in Cyprus in 2010 and built its early business under a CySEC license. Today the group operates under the name Notesco. The Cyprus entity, Notesco Financial Services Ltd, holds CySEC license 125/10. A separate UK entity holds an FCA license (585561), and a South African entity holds an FSCA license (45276). The bonus offers covered on this site, however, run through Notesco (BVI) Limited, an offshore entity licensed by the British Virgin Islands Financial Services Commission, not through the FCA or CySEC entities.
That offshore structure matters for anyone comparing IronFX's marketing to its regulatory protections. The FCA and CySEC entities carry the investor protections associated with those regulators. The BVI entity that runs the deposit bonuses does not carry the same protections, and IronFX's own site states plainly that bonus services are provided by the BVI entity.
IronFX has a documented history of client withdrawal problems tied directly to its bonus programs. In late 2014, after running an aggressive 100% deposit bonus campaign, the company began refusing withdrawal requests from clients it accused of bonus abuse. Complaints to Cypriot authorities exceeded 1,000 by mid-2015. CySEC's investigation found the firm lacked adequate controls over client fund handling and identified a shortfall reported at the time as roughly $176 million in client money. CySEC fined the company 335,000 EUR and twice recommended suspending its license, though it ultimately did not shut the firm down.
This episode is now over a decade old and the company has continued operating since, but it is the reason IronFX carries a reputation problem that shows up repeatedly in broker forums. It is also a useful illustration of a general risk with deposit bonuses: bonus terms can become the basis for a broker to withhold client funds, which is exactly the mechanism that triggered the complaints.
IronFX runs on MetaTrader 4 and lists over 500 tradable instruments across forex, indices, shares, commodities, metals, futures and a limited range of cryptocurrencies. Forex coverage runs to 80-plus currency pairs.
Account types split into two groups. Live accounts (Standard, Premium, VIP, Zero Fixed Spread) are aimed at retail traders, with the Standard tier opening from a $250 minimum deposit and leverage advertised up to 1:1000. STP/ECN accounts target more active traders, with the Raw ECN account offering spreads from 0 pips plus a commission. Minimum deposits and maximum leverage vary by account and by the regulated entity a client is onboarded to.
IronFX's current promotions, run through the BVI entity, are the 100% Unlimited Sharing Bonus, the 40% Power Bonus (capped at $4,000) and the 20% Iron Bonus (capped at $2,000). All three are credited as non-withdrawable trading credit, not cash. The bonus can be used as margin to support trading size, but it cannot be cashed out directly.
The Sharing Bonus carries the strictest withdrawal condition: accounts that received it can withdraw only up to half of the current account balance at any time, meaning part of a trader's own deposit stays locked in the account alongside the bonus. The Power Bonus is removed proportionally as a client withdraws funds, so pulling out half a deposit strips half the remaining bonus credit too. None of these programs pay out the bonus amount as cash on request, and all are subject to the broker's bonus terms, the same category of terms that triggered the 2014-2015 complaints. Bonuses are generally not available to clients onboarded through the FCA-regulated UK entity, since UK and EU retail conduct rules restrict this kind of incentive.
IronFX requires full identity verification, a government ID plus a proof of address dated within three months, before processing a first withdrawal, and typically confirms payment methods as well. Verification is usually completed within one to three business days.
Withdrawals must generally go back through the same method and up to the same amount as the original deposit, with profits above that routable to other verified methods. IronFX advertises no withdrawal fees on its side, though payment providers may charge their own, and the company reserves the right to apply a 3% fee if a client deposits and withdraws without placing any trades.
Yes, but through more than one entity. Notesco Financial Services Ltd holds a CySEC license (125/10), a separate UK entity is FCA licensed (585561), and a South African entity holds an FSCA license (45276). The deposit bonuses, however, are offered through Notesco (BVI) Limited, an offshore entity regulated in the British Virgin Islands, which does not carry the same investor protections.
IronFX ran an aggressive 100% deposit bonus promotion and then refused withdrawal requests from clients it said had abused the bonus terms. Complaints to Cypriot authorities passed 1,000 by mid-2015, and CySEC's investigation found inadequate fund-handling controls and a client money shortfall reported at roughly $176 million at the time. CySEC fined the company 335,000 EUR. It happened over a decade ago, but it remains the central reputational issue tied to the brand.
No. The Sharing Bonus, Power Bonus and Iron Bonus are all credited as non-withdrawable trading credit used for margin. You can withdraw profits generated while trading, but not the bonus amount itself, and the Sharing Bonus specifically limits withdrawals to half your current account balance.
It varies by account. The entry-level Standard live account opens from around $250, while other live and STP/ECN accounts generally require $500 or more depending on the entity.
MetaTrader 4 across its account types, giving access to forex, indices, shares, commodities, metals, futures and a limited set of cryptocurrencies, with over 500 instruments listed.
Generally no. The deposit bonus programs run through the offshore BVI entity. Clients onboarded through the FCA-regulated UK entity are typically not eligible, since UK conduct rules restrict this type of trading incentive for retail clients.