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
All users active on IronFX trade on the same server, but any trade that overloads the server is prohibited as it is a nuisance to other users. Excessive trading, such as making thousands of trades in a short period of time, is prohibited. High-frequency trading methods for FX and stock trading both domestically and overseas are the strongest, but the reason they are prohibited is because they place a heavy load on the server.
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
Any account type is OK for automated trading. Since it is MT4, it is a very suitable tool for automated trading, so there is no problem. There are traders who actually use VPS for automated trading. However, automated trading has a bankruptcy rate of over 90%, so please do so at your own risk. If you achieve good results in trading financial products, you may be subject to paying taxes. Tax returns are required. Leverage is high, so even if the margin is low, you can hold a lot with financial services. Be sure to officially analyze the fluctuating market prices and the possibility of losses.
scalping is ok
Scalping is OK. Abuse of trades may result in penalties. Placing a large number of small lots or small amounts in a short period of time on some exchanges can put a strain on the server. Be careful as system trading is easily accessible. In some cases, other companies have written down on their websites and web trader apps that scalping is prohibited by their standards. Since it is OK on the exchange, you can do whatever you want with minor currencies. You can make a settlement while watching the price rate right now and make a certain profit. It is definitely a recommended company in the industry.
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
A frozen account means that you will not be able to do anything with IronFX. You will not be able to log in to your account and you will not be able to do anything. Once this happens, there is nothing the user can do, so there is nothing they can do. Violations of credit cards, debit cards, virtual currencies, bank transfers, etc. are also dangerous. Partners should at least check the documents on the official website to see if there are any problems with metal transactions.
What to do if frozen
If you commit a prohibited act, your account will be frozen. Once this happens, there is nothing the user can do. The only option left is to contact the support center. There is a possibility that the freeze will be lifted by negotiating with the support center. If the freeze is not lifted, you will not be able to continue with IronFX, so you will have to look for another broker. There are many events, there are a wide variety of stocks such as indexes and stocks, and it is recommended for beginner customers as it is a broker that allows you to trade in new markets.
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