Investor Can' t Withdraw Money from FSFX

Recently WikiFX received investor' s complaint of FSFX for they declined his first withdrawal application. The investor failed to reach the customer service in any means and couldn' t withdraw the money from his account.

Mr. Yuan filed a real-name complaint about FSFX by presenting his ID card to ensure authenticity.

Event recap

Per Mr.Yuan' s said, he opened an account and started to deposit money to FSFX last September under the recommendation of a third-party depository agency.

While trading on the platform, Mr. Yuan kept on losing money, and he made a withdrawal request this February. But the request is still being processed, so he hasn' t received the money till now.

Mr. Yuan tried contacting different customer service staffs, but didn' t get any reply.

Screenshot of Mr. Yuan' s conversation with different customer service staffs

To date, Mr. Yuan' s request has not been dealt with and there seems little hope for him to get back the money in his account .

Regulatory Information of FSFX

According to the regulatory information from WikiFX App, FSFX holds NFA(US)' s license for financial service only. Without the authority of providing Forex brokerage service, it operates in overrun business in China, having substantial risk.

MT4/5 identification

It has been verified that FSFX uses white-label MT4 trading software, with both servers set up in Hongkong. White-label platforms are generally low in cost, being of considerable risks.

Network diagram

Further investigation shows FSFX is related to 2 white-label Forex brokers including FXRHS and RiseHill.

Our verification suggests that FSFX has a rating of 3.21 only, and operates in overrun business in China for its NFA(US)' s license just for general financial service.

In addition, it uses white-label MT4 software and has considerable risk. Finally, it is illegal to reject investor' s first withdrawal request, making investor unable to receive his money. Thus we suggest investors to stay away from this broker to avoid potential financial loss.

It' s also wise not to trust unverified third-party depository agency and stock lectures blindly. And investors are strongly advised to check broker' s information by WikiFX App in order to avoid potential risk and ensure the safety of your investment.