IronWave Capital Review – File a Complaint If Scammed

Whenever you want to invest your money, the first thing to ask yourself is if you can trust the broker. If not, you risk being scammed.

But what are the telltale signs of fraud? How can you be certain that the broker you chose is legitimate? We’ll answer all this and more in our detailed IronWave Capital review.

IronWave Capital Legal Information

IronWave Capital is a brand of Alpha International Markets Ltd, allegedly registered and regulated in Seychelles. However, once we checked the FSA register, we found no such firm. Additionally, the company provided us with the UK address in their legal documents.

This is why we’ve also searched through the databases of tier 1 regulators such as FCA, ASIC, and BaFin. Instead of approval, we found a warning against the IronWave Capital scam. The UK FCA issued a statement saying that this company “may be providing or promoting financial services or products without permission.” 

Based on this, we can conclude that the broker is not safe. If you have been involved with them, submit a withdrawal request immediately.

Who Are the Victims of IronWave Capital Fraud?

Since February 2024, when this brokerage registered its first domain, they have mainly been targeting Europe. Some of the primary targets are:

• Portugal,
• Netherlands,
• Spain,
• United Kingdom,
• China.

The same can be confirmed through IronWave Capital reviews on Trustpilot. The brokerage holds a score of 3.8 stars and replies to negative comments. A similar situation is on Reviews.io, where the company has 4.2 out of 5 stars, but their alleged address is in London, UK. This was debunked by the FCA warning.

Since the address is fake, there’s a high chance that the reviews are also fake. We’ll leave it to you to decide.

IronWave Capital Trading Platform

As is usually the case with fraudulent sites, IronWave Capital only provides one trading platform – WebTrader. While it promises users MT5, one of the most popular platforms out there, this firm fails to deliver. They offer the cheapest, most basic version of the software that has one purpose only. This is to convince you that some trading takes place at all.

Instead of trading, broker agents are manipulating your account from the back end. They can make it look as if you earned a lot or are at a large loss. All depending on their sales strategy and the amount of money they plan to take from you next.

Mobile Apps

While the website contains buttons that should redirect us to the IronWave Capital app on PlayStore and AppStore, none of them work. Simply put, there’s no app, and you’ll have to trade using the browser.

IronWave Capital Account Types

There’s no shortage of account options. You can choose between:

• Trial – 250 EUR
• Silver – 10,000 EUR
• Gold – 25,000 EUR
• Platinum – 50,000 EUR
• PremiumPremium – 100,000 EUR
• VIP – 250,000 EUR
• VVIP – 500,000 EUR
• Diamond – 1,000,000 EUR

While we’re quite confused with the names of some of the accounts, their purpose is pretty clear. To extort more money from you in exchange for fictive benefits, such as economic outlook, featured ideas, and web TV.

Leverage, Spreads, and Fees

The leverage is another confusing detail. In the Account Types section, the firm promotes leverage in accordance with the FCA license – 1:30 for retail clients and 1:400 for professionals. However, on their main page, they advertise 1:100 to 1:500 for all accounts.

Spreads vary based on the account type and range from 3.0 to 1.6 pips for the EUR/USD pair. If you know that the average is 1.5 pips, why would you pay these amounts to an unregulated scam?

Demo Account

Since the company doesn’t offer any third-party platforms, such as MT4 or cTrader, that usually come with a demo account, there’s no such account either. Instead of practicing risk-free, you’ll have to pay 250 EUR right away.

IronWave Capital Customer Support

If you wish to contact the brokerage, you can do so via their support email. However, we don’t think they’ll be too keen on replying, especially if you ask about withdrawals. 

In addition, you can try contacting them via social media accounts, such as Instagram and X. Once again, we don’t think you’ll receive a response unless you plan to invest with them.

Deposits and Withdrawals

While we know that the minimum deposit is 250 EUR, we have nothing to say about withdrawals. The legal documents are quite vague, stating that a customer can withdraw from the contract and must notify support via email and with a signed withdrawal form. The company has up to 14 days to refund you.

There is no information about payment methods, the procedure for submitting an IronWave Capital withdrawal request, or the fees you’ll have to pay. As it seems, payouts are not an option.

Key Things to Consider About IronWave Capital

Simply put, IronWave Capital broker is unregulated, blacklisted by UK authorities, and a danger to your funds. If you have any money invested there, we advise you to withdraw it immediately.

If the withdrawal request is denied or you cannot reach anyone from the company, report it to your local regulator right away. In addition, you can contact our chargeback specialists for assistance. We’ll evaluate your case during a free consultation and help you report the broker to the relevant institutions.

FAQ Section

What is IronWave Capital?

IronWave Capital is a fake brokerage with alleged addresses in Seychelles and the UK.

Is IronWave Capital Legit?

IronWave Capital is not a legit broker and has been blacklisted by the UK FCA for fraudulent activities.

How to Withdraw Profits From My IronWave Capital Account?

You can try submitting a withdrawal request from your account. If you don’t get your money back, contact us for help.