Ironpeak Tradebit has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.ironpeak-tradebit.net.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Ironpeak Tradebit is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Ironpeak Tradebit advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Fast deposits|Tax reports included|Demo account available|Two-factor authentication
Cons: Some tools only available on higher tiers|Minor UI glitches occasionally
Do not use Ironpeak Tradebit for anything serious. I used them for the past six months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Social trading features|Instant funding
Cons: Help articles are sometimes vague
I had a dispute with Ironpeak Tradebit and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Segregated accounts|API access|Great customer service
Cons: Research section could be deeper
After seeing ads for Ironpeak Tradebit online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly