2015 IronFX Brazilian CVN warning came in just during the high heat of the IronFX withdrawal issues. These are the financial details and consequences
2015 IronFX Brazilian CVN warning came in just during the high heat of the IronFX withdrawal issues.
The local watchdog, Brazilian CVN warned traders that IronFX is not licensed nor registered by the Brazilian local authorities to acquire customers residing in Brazil. According to the official warning published in the CVM Official Gazettealso as a Declaration Act (CVM 14.375, 19/8/2015) IronFX was literally told to seize its direct or indirec solicitation to Brazilian nationals.
There is no fixed law in Brazil forbidding Brazilians trading with foreign Forex brokers, generally all CVN can do is just issue a warning. However, in IronFX case according to the company is holding a serviced office and has been carrying out activities inside Brazil.