List of Forex Brokers to Avoid

This is the harsh reality of the forex market: there are an endless number of forex brokers who act like legitimate and authorised ones but are not actually and, therefore, swindle innocent people's money.

Though there are esteemed regulators working to protect consumers from falling for these fraudulent brokers, the Financial Conduct Authority (FCA) issues warnings against unauthorised brokers. Recently, the FCA exposed many unauthorised brokers. Have a look, and beware.

Name: Globalassetfirm (www.globalassetfirm.online)

Name: Global Earning Option

Telephone: +447467515434

Email: support@globalearningoption.com

Website: www.globalearningoption.com

Name: Massivesignalfx

Address: 76 Commercial St, Edinburgh, Midlothian, UnitedKingdom, EH6 6LX

Telephone: +13174499416

Email: support@massivesignalfx.com

Website: www.massivesignalfx.com

Name: Citibank/ Citigrps (Clone of FCA Authorised firm)

Telephone: +442037692710, +442036690392

Email: support@citibgrps.com,

info@citionlineservice.com

Website: https://citionlineservice.com/

Name: Clear Path Insolvency Limited

Address: Floor 3, Building 7, Exchange Quay, Salford, UNITED KINGDOM, M5 3EP

Telephone: 01615232860

Email: help@cpinsolvency.co.uk

Website: https://cpinsolvency.co.uk

Name: Fidelis Wealth Management

Address: Av. des Morgines 12, Lancy, SWITZERLAND, 1213

Telephone: +41275087694

Email: support@fwm-lmtd.info

Website: https://fwm-lmtd.com

Name: 4Tradexchange

Website: www.4tradexchange.org

Name: Xemifxmarkets (www.xemifxmarkets.net)

Name: fraudcompany.co.uk/ the-fraud-company.co.uk

Telephone: 08002081398

Email: enquiries@fraudcompany.co.uk

Website: www.fraudcompany.co.uk, www.the-fraud-cormpany.co.uk

Name: Barclays Wealth/ www.wealth-management-services.com (Clone of FCA Authorised firms)

Telephone: +442038161658

Email: barclays@wealth-management-services.com,

barlays@wealth-management-services.co.uk

Website: www.wealth-management-services.com, www.wealth-management-services.co.uk

While exposing these bogus brokers the authority said these firms are not authorised by us but have been contacting people pretending to be an authorised firm. Further, The FCA stated these firms may be promoting financial services or products without our permission. The authority advised people to avoid dealing with these firms.

The FCA has also reminded investors to be vigilant when dealing with forex brokers and to conduct proper due diligence before investing any money. Investors should check the FCA's register of authorized firms to ensure that the broker they are dealing with is legitimate.

Wikifx also alerts you , before investing, check your chosen broker's reliability and reputation on wikifx app or website. Wikifx provides you with the brokers regulatory status, expertise in the forex market, rating and all the relevant information related to the specific broker. Wikifx not only provides you with these details but also keeps you updated about the latest news in the forex market. To expand your knowledge and stay informed about the forex market. Download the Wikifx app on your phone. Here is the link to the download: https://www.wikifx.com/en/download.html