IronFX soap opera: A President, a hero, an intruder and….some ketchup?


We are not here to judge whether IronFX does its job well as a broker, since its name has been recently embroiled in a dispute with its Chinese customers, as we have already reported. The jury is still out on the truth behind this story…

However, we are compelled to admit that “The Global Leader in Online Trading” as it labels itself is definitely good at creating headlines, stories and fuss around its name. The deal with Barcelona, the inter-galactic competition, the New York IPO and the Alpari UK acquisition that never came through are just a few examples that easily spring to mind. But, as always, there is more:

Last Sunday, IronFX had a prominent place in a speech by the President of Cyprus Nicos Anastasiades during the inaugural ceremony of a park, housing a commemorative statue in honour of a much loved hero of the island’s liberation struggle against British rule back in 1955. This park is situated right next to IronFX’s headquarters in Limassol, Cyprus and the President was quick to express his and the country’s gratitude to IronFX for funding the construction of both the park and the memorial as part of the company’s social responsibility policy. The story had a central part in the local press, especially since it played out on the eve of the anniversary of the liberation struggle, of which Cypriots are particularly proud, on 1st April and the company did score several points in the minds and hearts of thankful Cypriots.

Yesterday however, another story played out to prove right one of our readers who had aptly termed the stories around IronFX a soap-opera. The story only appears in one source up to now although according to the incident report this is confirmed by IronFX officials who also said that the person involved was arrested by Cyprus police. We tried to find a relevant announcement by the local police on the matter but couldn’t do so, perhaps because if it did occur, it was not considered a very serious incident.

But to cut to the chase, what is supposed to have happened is that the IronFX headquarters became the target of “an unidentified man claiming to be a Chinese client of IronFX.” This man is said to have erected a large red banner outside the building accusing IronFX of cheating thousands in China and asking for their money back in the Chinese and English languages.

What makes this story even more weird however is that allegedly this Chinese man also made violent threats against IronFX staff in front of the building and he somehow later “emerged with red marks on his face to give the appearance that he had been roughed up.”

Although the source reporting on the story also publishes two photos, one of the defamatory banner outside the building and one of the “intruder’s” face with the red substance, the claim that is made is that the blood was not blood at all, but either ketchup or paint, because the Chinese man was attempting to give the appearance of an altercation which never happened.

This may well and truly be the next episode in the ongoing battle between IronFX and its discontent Chinese former clients, who are reported to have filed a court suit against the broker and who have already raided its offices in China.

Nevertheless, the story and the reporting on it is still dodgy and weird. How come the man posed for what looks like a “selfie” with blood or ketchup on his face and how did that photo end up posted on the internet? And how do we know for sure whether the red substance was blood or not? And who decided to publicize the incident? The “Chinese man” to boast about his “achievement” or the broker to portray how its accusers are some weird guys who would go to all lengths in order to defame it, even stage up imaginary fights with the help of ketchup?

It beats me really to say the least….anyone out there have any thoughts???