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Abstract:Scammers and fraudsters are constantly mushrooming in the forex and/or cryptocurrency industry. These two industries are legit on their own. The only problem is how a trader or investor finds a reliable broker to avoid being scammed upon conducting retail trading. It could be a costly mistake if one ends up with the wrong broker.
Fret not. All you need is to download the free WikiFX mobile application. WikiFX is a forex broker regulatory query platform specially curated to help users with broker-related enquiries.
WikiFX reliably provides legal statuses and relevant background information of more than 41,000 forex brokers, including licences obtained, years in business, accounts offered, the responsiveness of their customer support teams, stability of trading platforms and more. WikiFX works closely with over 30 national regulatory bodies to provide this accurate information.
WikiFX goes above and above by going to brokers' offices to confirm their addresses and the reliability of their companies. WikiFX will notably highlight any potential caution signs and inherent hazards on that suspect broker's information page to alert users.
Not only does WikiFX validates the accuracy of a broker's background information, but we also pay careful attention to the stability of a broker's trading environment in terms of its average transaction speed, trading slippage, disconnection time and frequency, rollover cost, etc.
WikiFX's “Exposure page” is where users can view the honest and transparent comments posted by others related to a forex broker. Nothing is more helpful than reading other people's experiences through reviews when determining whether a broker is reliable.
On the other hand, WikiFX will act as a mediator for unresolved disputes between a broker and its client. Over 13,250 cases have been resolved with the aid of WikiFX, and a staggering total of 48.7 million USD has been resolved. Although WikiFX cannot guarantee this aspect, we strive to do our best for all users seeking help from us. If you have encountered such a stressful scenario, do not hesitate to contact us via the mediums below:
Alternatively, you can lodge a case report through our WikiFX mobile app. Remember to gather as much evidence as possible, which could benefit the investigation and mediation processes.
Not forgetting to mention that the best part about using WikiFX and our services is that everything is free! So, why wait any longer? Head to www.wikifx.com and Google Play/App Store to download it onto your devices.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
According to the report, Doo Group, a prominent Singapore-based online brokerage firm, has strengthened its global presence by securing new offshore licenses for its brokerage brand, Doo Financial. The company recently announced that entities under the Doo Financial umbrella have been granted licenses by two key offshore regulatory bodies: the British Virgin Islands Financial Services Commission (BVI FSC) and the Cayman Islands Monetary Authority (CIMA).
In recent months, PrimeX Capital, a Forex and CFD broker established in 2022, has become a subject of concern in the trading community. However, despite these enticing features, the broker's reputation has been severely tarnished by multiple complaints and a troubling lack of regulatory oversight.
Forex broker scams continue to evolve, employing new tactics to appear credible and mislead unsuspecting traders. Identifying these fraudulent schemes requires vigilance and strategies beyond the usual advice. Here are five effective methods to help traders assess the legitimacy of a forex broker and avoid potential pitfalls.
Doo Financial, a subsidiary of Singapore-based Doo Group, has expanded its regulatory footprint by securing new offshore licenses from the British Virgin Islands Financial Services Commission (BVI FSC) and the Cayman Islands Monetary Authority (CIMA).