Prop Trader Scam Exposure: Be Aware of FXStockBroker！

Recently, a Malaysian investor complained to WikiFX about the forex broker FXStockBroker. The complainant exposed a series of FXStockBroker’s illegal practices, including inducement to open account and delay on the withdrawal requests, and hoped that other investors will be vigilant.

Illegal Broker Exposure

In 2019, the complainant deposited $1,000 on FXStockBroker platform, together with an account opening bonus $2,000 as the principal to start the recommended profit plan-Prop Trader Program. During trading period, the complainant made $2,000 from the program, total account balance being approx. $5,000 then. However, after over six months, the complainant suddenly couldn’t log in his mobile trading platform or the desktop platform. The complainant immediately contacted the customer service to request withdrawal, but hasn’t received any reply yet.

The complainant exposed FXStockBroker to WikiFX

Some of the e-mails between the complainant and FXStockBroker

Illegal Broker Analysis

On FXStockBroker's official website, the broker states that its operating company, ACM Group Ltd ("Alpha"), is regulated by FCA (registration number 441689). By comparing and verifying the broker’s official site and information on FCA website, WikiFX finds that this "Alpha" has been confirmed as a clone broker, its victimsincluding Alpha Capital Markets Plc (regulatory number "441689") and Alpha FX Ltd (regulatory number "770377"). "Alpha" is very similar to these companies in the name and details, and will mislead investors into thinking they are the same company, thus confusing the truth.

In addition, FXStockBroker claims that it has the world’s best trading platform. But according to many platform users, FXStockBroker disables theEA trading without notice, while the investors also frequently suffer withdrawal failure and couldn’t reach the customer service.

FXStockBroker’s user review

We can see from FXStockBroker’s tricks, such ascloning multiple licenses, implementing profit plansand faking website details, that the broker is highly deceptive, and without caution, investors may be tempted and fall victim to the scam, whether experienced or not.

Conclusion

Per investigation, we found that the score of FXStockBroker is only 1.53 on WikiFX APP. According to the latest risk warning, the FCA regulatory license claimed by this broker is suspected to be a clone, and this broker currently has no valid regulation. Please stay away!

The score of FXStockBroker on WikiFX APP

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