IronFX Cuts 150 Jobs

IronFX, a prominent forex and CFDs broker, has laid off approximately 150 employees, representing about 10% of its global workforce of 1,500. Sources indicate the move is driven by a push for "efficiency" amid the growing influence of artificial intelligence.

The company has not officially confirmed the specific reasons for the layoffs and did not respond to requests for comment prior to publication. IronFX holds a Cyprus Investment Firm licence but ceased serving EU retail clients several years ago, now operating primarily under a British Virgin Islands offshore licence. It also maintains authorization from the UK's Financial Conduct Authority.

Founded in Cyprus in 2010, IronFX retains strong ties to the island despite its global footprint. The cuts at IronFX are part of a wider trend of staff reductions across the retail brokerage industry. Recent examples include eToro's 10% global workforce reduction and over 100 job cuts at the operator of FXCM and Tradu, with both firms citing AI integration as a key restructuring driver.

Analysts note that framing layoffs within a strategic AI narrative can help brokers present cost-cutting measures more favorably to investors. Other brokers, including IG Group and CMC Markets, have also implemented significant staff reductions in recent years. However, the scale of IronFX's cuts in Cyprus is notably more aggressive than recent industry averages.