IronFX: Prohibited acts in overseas FX and account freezing Are double-denomination, arbitrage, and automatic trading prohibited? Reason explanation

IronFX

IronFX is an FX company that offers account bonuses and accepts many trading methods. However, some users may violate the terms of service and commit illegal acts. In that case, in the worst case scenario, your account may be frozen and you may not be able to trade again, so be careful.

Prohibited acts on IronFX

There are some trades that are prohibited on IronFX. Specifically, the following actions are prohibited. Those who are doing system trading are doing things like scalping and double trading. The platform allows trading with MT4, so some people invest using automated trading tools (EA), but this is not recommended as it may be prohibited depending on the service provision mechanism. To trade with confidence, be sure to check whether each of the following information applies to you.

arbitrage

Arbitrage is arbitrage trading. Arbitrage is a transaction that attempts to earn profits by taking advantage of price differences in the market. By buying the cheaper one and selling the more expensive one between two products, you can theoretically make a profit without risk, so it is a trade with a very high winning rate. Most FX brokers prohibit this practice, and IronFX does the same.

Trades that place excessive load on the server

Users active on IronFX trade on the same server, but trading that overloads the server is prohibited as it will be a nuisance to other users. Excessive trading, such as thousands of trades in a short period of time, is considered a prohibited activity.

Opening an account using a bonus

Bilateral trading is a method of holding buy and sell positions at the same time, cutting losses on one at an early stage, and aiming for large profits on the other. Basically, both sides are OK on IronFX. There is no problem with STP/ECN accounts, but with live accounts, double-denomination using bonuses is prohibited. Also, it is not possible to trade between multiple accounts.

Automatic trading is OK

For automatic trading, any account type is OK. Since it is MT4, it is a very suitable tool for automatic trading, so there are no problems. There are traders who actually use VPS for automated trading. However, automatic trading has a failure rate of over 90%, so please use it at your own risk. If you achieve good results in trading financial products, you will be required to pay taxes. A final tax return is required.

scalping is ok

Scalping is OK. In the case of abusive trading, there may be penalties. For some exchanges, if you place a large order in a short period of time, even if it is a small lot or a small amount, it will put a load on the corresponding server. Be careful as system trading can be easily accessed. In some cases, it is clearly stated on the website or web trader app that it is prohibited according to other companies’ standards.

Penalties for performing prohibited acts

If a user commits a prohibited act, there is a risk that one of the following penalties will be imposed: Even if you have a large balance, you should be careful if you are unable to check or place an order. You may be excluded from service provision and lose all of your large funds. Let’s look back to see if you have engaged in any prohibited behavior in the past. If you don’t have the knowledge or the content, you will be in trouble.

Country/region of residence

There are cases where IronFX does not allow registration in the country or region of residence. This is the case for the United States, Cuba, Syria, North Korea, and Sudan. As a rule, you cannot normally participate, so please check in advance. However, in addition, if a resident opens one without permission, they will be penalized as soon as it is discovered. You will not be able to use the principal deposit and will lose all of it.

Account frozen

Account freezing means that an account created within the account that violates the prohibitions will become inoperable. As a result, users will no longer be able to trade, manage, or execute orders, and will be unable to make new trades unless they prepare, select, and create another account. As a result, the disadvantage is that you will not be able to deposit or withdraw money from a frozen account, and you will not be able to receive bonuses. Of course, you can’t use web apps or mobile apps either.

Freeze account

Account freezing means that you will no longer be able to perform any activities on IronFX. This refers to a state where you cannot log in to your user account and cannot do anything. If this happens, there is nothing the user can do, so there is nothing that can be done.

What to do if frozen

If you commit a prohibited act, you will be frozen. If this happens, there is nothing the user can do. Your only remaining option is to contact the support center. The freeze may be lifted through negotiations with the support center. If it is not released, you will not be able to work with IronFX and will have to look for another broker.

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