IronFX is a very famous FX broker in the world and has a large number of registered users. 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
There are some trades that are prohibited on IronFX. Specifically, the following actions are prohibited.
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 trade automatically. However, automatic trading has a failure rate of over 90%, so please use it at your own risk.
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:
Account frozen
Account freezing means that the account created within the account becomes inoperable. This will prevent users from trading and will prevent them from making new trades unless they create another account. You will not be able to deposit or withdraw money from a frozen account.
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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