WikiFX Review: Please watch out for MalBoxCorp!!!!

With the rise of the Internet, the foreign exchange market has leapt to become the most liquid and traded financial market in the world. With this, a large number of different kinds of foreign exchange transactions have emerged, so how should investors choose among the many Forex brokers？ This article takes MalBoxCorp as an example to analyze if this broker is trustworthy. If your broker has the following dangerous signs, please run away!

Insufficient information

To get a better idea of MalBoxCorp, WikiFX paid a visit to its official website. But we found that there is no related information about company such as the establish time, founder and registered address, nor the terms and conditions, leverage, spreads and commissions. Without these basic information, WikiFX cant make comments based on factual evidence. Therefore, WikiFX also access the query tool to get more information.

As you can see from the chart above, MalBoxCorp is an American forex brokerage company that was founded on June 25, 2022. It's only 94 days since its inception, which blows my mind. Clearly such a “strange” platform proves that the company is not an investor's choice, either from a professional or trust point of view. In addition, there are 728 other websites on the server, which also proves that the company is a clone company and lack of strength. Conversely, can you trust a platform that doesn't even provide basic information？ It is likely that it is trying to hide something in order to create a professional and perfect website and gain the trust of users.

No License

Now that we know that MalBoxCorp is a registered forex broker in the US, WikiFX certainly need to visit the US financial institution to verify whether it is regulated by the NFA-the National Futures Association.

We can see from the figure above that the query result is quite negative -Your search returned no results. As a professional forex broker to provide financial products and services in the United States, a license is a must!!! Trading with MalBoxCorp is dangerous, because you wont be protected by the National Futures Association (NFA) in the United States, you are unlikely to get your money back if things go wrong.

High minimum deposits with some unrealistic profits

MalBoxCorp has a minimum deposit limit - a maximum deposit of more than $20,000 and a 100 per cent return on investment. This is definitely a red flag because no legitimate broker is willing to promise investors a return on their investment, let alone a 100 percent return on their investment. In fact, this is a common tactic used by scammers to trick you into putting your money into their account by taking advantage of supposedly high ROI, and once you do, you'll never get your money back.

Low score on WikiFX

WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers. Investors can understand the overall situation through WikiFX, the higher the score is, the more reliable the broker is. Now let's do a WikiFX search for “ MalBoxCorp ” to see what MalBoxCorp combined score is.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/3376770694.html). MalBoxCorp has no valid regulatory license and the score is rather negative - only 1.03/10! WikiFX will comprehensively score dealers in five aspects: license index, business index, risk control index, software index and regulatory index. Since MalBoxCorp does not have any supervision and does not obtain regulatory license, its license index, risk control index and regulatory index are all 0 points, and the final total score is 1.03 points (full score of 10 points).

Based on the above points, it can be concluded that MalBoxCorp is not trustworthy and the trading risk is high. If your forex broker shows any of the above signs, stay away, these are red flags! Before deciding whether to invest, investors are advised to search the above channels for information about the brokerages you tend to trade with, but the easiest way for most investors is to search on Wikipedia. This is not only to say that the information is very comprehensive, covering all our channels of inquiry information, more importantly, the information is very accurate, can save investors time and tedious steps.

All traders should be vigilant when investing in a broker. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.