Discrepancies in IronFX Pillar 3 reports

#1
Further to the information published on Forex Magnets report about this fraud allegations against Iron FX, many visitors mad very good comments, one of the comments I stopped at is talking about discrepancies in 2012 fingers the discrepancy is very Cleary comparing the figures of 2012 in the 211/2012 report and the 2012/2013 report so I thought to share with you. IS this true? I am not an experts but checked both reports form the links provided from the iron fx websit and there is discrepancies and to me it sounds very strange?? Let me share with you this comments and you may view all comments at
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“The way IronFX promotes itself as a Global Leader, the marketing budget, the number of employees and branches, all sound suspicious when you review IronFX pillar 3 disclosure statement.

I am not an auditor; however, the numbers look extremely suspicious to me. Below is a link for the Pillar 3 repot for the year ending 2012.
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If you compare the 2012 figures with the below report for 2013, which also shows 2012 figures, you will notice huge differences in the figures provided for the year 2012.

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2011/2012 report on page 5, it shows “Receivables from client trading activities” for 2012 as US$ 134,911,315. If you compare with the 2013 report (which also includes 2012), the figure is US$ 3,988,996.
Receivables from client for the year 2012 in 2011/2012 report is 134.911.315 while in the 2012/2013 for the same year shows 3.988.996 As for other receivables for the year 2012 in 2011/2012 report is 640.036 while in the 2012/2013 for the same year shows 2.768.586

There are many other discrepancies in the report. You can check it for yourself. Another point to mention is how come a Global Leader which claims huge number of clients, over 1400 employees and millions of US$ spent on its marketing and sales, only require US$ 7.6 million for Credit, Market and Operational risk (please check the report page 11).
 

freddieforex

Active member
Banned Users
WwI Memebr
#2
Not sure why you posted your gripe yesterday and was told that your posted was move to the Scam Section. You wanted to continue your postings but instead of making them in the same thread, you started a new one.

Please help out this forum and post in one thread only. This helps keep our forum organized and looking neat.

Thanks
 

falconwest

Member
WwI Memebr
#3
[MENTION=387]ahmed[/MENTION], I answered your previous post, you will be banned if this continues in another posting so I suggest you to respect forum rules if you want to continue using this forum...thx.
 

freddieforex

Active member
Banned Users
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#4
I tried to merge this with his first thread which I moved to the Scam Section but there is a glitch in the system and I requested assistance from Peachy to look into this. Next option is to delete this thread if it can't be merged.
 
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