Desk file · 2026 edition · record confidence: medium
IronFX
We opened the file on IronFX the way we open every file: register first, marketing never. Trading since , run out of Limassol, Cyprus (registered address of Notesco Financial Services Limited: Iapetou 2, 4101 Limassol), and carrying 4 licence entries on the public record, 1 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| FCA | 585561 | United Kingdom | T1 | Notesco UK Limited | register.fca.org.uk |
| CySEC | 125/10 | Cyprus | T2 | Notesco Financial Services Limited (reg. 260651) | cysec.gov.cy |
| Bermuda registration cited in IronFX terms of business | Bermuda | T3 | Notesco Limited (Bermuda reg. 51491) | ironfx.com | |
| FSC British Virgin Islands | British Virgin Islands | T3 | Notesco (BVI) Limited | ironfx.com |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- IronFX is a trade name of the Notesco group; the UK arm, Notesco UK Limited, appears on the FCA register with firm reference number 585561.
- The Cyprus arm, Notesco Financial Services Limited (formerly IronFX Limited), holds CySEC licence 125/10.
- CySEC published a decision on 27 November 2015 recording a settlement with IronFX Global Ltd (https://www.cysec.gov.cy/en-GB/public-info/decisions/76109/).
- CySEC published a further settlement decision concerning Notesco Financial Services Ltd on 2 April 2024, in respect of a board decision dated 29 January 2024 (https://www.cysec.gov.cy/en-GB/public-info/decisions/96700/).
- The group also uses Bermuda and British Virgin Islands entities for non-EU clients, as stated in IronFX's own terms of business and site footers.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- founded
- spreadEurusd
- segregatedFunds
- negativeBalanceProtection
- publiclyListed
- BVI FSC licence number for Notesco (BVI) Limited
- settlement amounts in the CySEC decisions (decision texts not read in full)
- negative balance protection
| Founded | |
| Head office | Limassol, Cyprus (registered address of Notesco Financial Services Limited: Iapetou 2, 4101 Limassol) |
| Minimum deposit | $100 |
| Leverage cap | 1:30 (FCA/CySEC retail); higher leverage advertised on non-EU entities |
| EUR/USD | not verified pips |
| Tier-1 entries | 1 |
| Record confidence | medium |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.