Overview of IronFX Deactivated Account
IronFX is a leading international forex broker that provides online trading services to traders and investors of all levels. For investors who would like to try their luck in trading Forex, IronFX offers a comprehensive range of trading products, tools, and services. Unfortunately, due to tight regulations, IronFX has recently deactivated some of its accounts. This article will provide investors with detailed information on why IronFX deactivated some of its accounts and offer advice on the best options available to them under such circumstances.
Reasons for IronFX Account Deactivation
IronFX accounts might be deactivated due to non-fulfillment of the terms and conditions, services and products offered by IronFX. If an investor failed to keep up with clearance requirements for a period longer than that specified in the contract, the account may be deactivated due to unsatisfactory performance. In addition, violations of regulations or agreements with IronFX, as well as not following the instructions stated in the contract, may also lead to the deactivation of the account. Lastly, IronFX reserves the right to refuse provision of services to certain customers.
Advices for Investors with Deactivated IronFX Accounts
When IronFX account is deactivated, investors should remain calm and not take any rash actions in response. The broker should provide them with a detailed explanation of the reasons why their account was deactivated. Investors should carefully read the conditions of their contracts with IronFX and identify the violations they have been accused of. If the violations are justified, the investors must take certain steps to avoid future sanctions.
If the investor believes that the deactivation of his account was unjustified, he can submit an official complaint against IronFX. A special procedure for solving disputes between brokers and traders is set out in the customer agreement. The complaint must contain accurate information about the violation of the rules by IronFX. The broker should respond to the complaint in no more than 30 calendar days. If the response is unsatisfactory, further complaints and/or legal action can be initiated by contacting IronFX directly or its representative bodies.
If an investor’s IronFX account is deactivated, he should review alternative brokers and review the services and features they offer before signing a new contract with another broker. Investors should take into account not only conditions of contracts, but also bonuses and rewards for loyalty, as well as the range of tools and services offered by the broker. IronFX may also allow you to reactivate your account, depending on the severity of the violation of the terms and conditions described in the contract.
What is Deactivate Account at IronFx?
Deactivate Account at IronFx is a process where an account holder will identify that their particular account has been inactive for a certain period time. This can be up to one year after which the account will be archived or marked inactive. Such an account may then be removed from the system after the required steps have been taken and necessary information has been stored in compliance with all applicable laws and regulations. IronFX is a Cypriot-regulated broker that is part of the IronFX group which is one of the biggest brokers in the world. IronFX has an emphasis on low spreads and fast execution of trades, allowing traders to maximize their profits.
IronFX Non-Trading Fees For Deactivated Account
IronFX has a no-fee policy when it comes to inactivity-related fees and there is no monthly inactivity fee with IronFX. However, any account that has been inactive for 90 days and has an average of zero trades per month will be deactivated and a $50fee will then be charged. Furthermore, IronFX may charge a fee for accounts that remain inactive for more than one year, with no deposits or withdrawals during that time. IronFX also has the right to close an inactivity account after two years with no deposits or withdrawals.
Risks associated with an IronFX Deactivated Account
When an IronFX account is deactivated due to inactivity, the broker may not be able to provide support to the client, which could negatively affect the client’s trading experience. It should also be noted that spreads tend to widen significantly during volatile and off-market periods, even with fixed spreads. This could result in higher losses if the client does not react to the increased market volatility. It is therefore important for clients to remain aware of their account activity and monitor their positions and balance regularly, to ensure that their account remains active.