MNB notifies Cypriot supervisory authority of complaints against investment firm
Image by Jessica Fejos
The National Bank of Hungary (MNB) has notified the Cypriot supervisory authority of customer complaints it received recently against Cyprus-based IronFx Global Ltd, the bank said today.
(Photo: Jessica Fejos)
The MNB said it had received almost 75 complaints since March 2015, claiming that IronFX Global Ltd, a provider of a platform for online trading, has not been executing payment orders, leaving customers without access to their funds. IronFx has told customers that it has suspended the execution of payment orders until completion of an ongoing internal audit.
The MNB said it had notified the competent financial supervisory authority of the firm’s home country.
The MNB also requested the investors affected to submit their complaints with any claims for damages to the competent Cypriot Financial Ombudsman.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.