WikiFX Protection Project Guards Investors against Broker’s Bankruptcy

The strict regulation of UK regulator FCA is a major reason that investors favor British forex brokers. However, the unpredictability of forex market means unexpected incidents can happen to any broker. Last Monday, WikiFX got many investors‘ reports that they couldn’t access the platform of SVSFX. The notice on SVSFX website revealed a surprising news: the broker, regulated by FCA and was in business for over 10 years, was bankrupted on the same day, and information on FCAs website also confirmed the news. The incident shocked the forex circle and worried many investors at SVSFX.

After SVSFX had failed, WikiFX promptly activated the EPC(Eye Protection Centre) program to compensate for investors‘ loss. As a highlight of WikiFX, the EPC program is China’s first free forex compensation scheme. Since EPC‘s creation, WikiFX has never stopped improving the service, striving to serve investors with EPC’s professional team, maximized coverage, unbiased and fair operation and transparent process. The program has drawn the interests of both forex investors and brokers.

Professional team

The EPC Council and the Arbitration Committee both consist of experts of the forex circle, many of which are former employees of brokers who have accumulated rich experience and expertise during decades of forex trading. With such a professional team, investors pressing needs can be addressed with higher efficiency.

Maximized coverage

According to the EPC rules, WikiFX will receive from the compliant broker a deposit that serves as a guarantee fund for its investors. The fund will help reduce investors‘ loss even if their broker runs into any problem. In SVSFX’s example, if investors fail to receive compensation from the broker within 6 months of its bankruptcy, WikiFX will assess the criteria of the investors who have signed up for EPC program on WikiFX website, and those eligible will be compensated for up to ¥50,000 per person.

Unbiased and fair operation

WikiFX will estimate the appropriate guarantee fund for a broker according to its WikiFX rating, and brokers with lower ratings generally need to provide higher guarantee fund. In addition, to ensure EPC‘s impartiality and guarantee investors’ rights in facing any possible conflict of interests, the EPC Council oversees the operation of EPC Committee, and ensures the Committee as well as the Assessment Panel and Review Panel make independent and impartial decisions based on facts when dealing with compensation claims.

Transparent process

Once the EPC program is activated, WikiFX will publish the detail compensation process and other important information investors need to know on both WikiFX App the official site www.wikifx.com, so investors can easily access them. The compensation includes the following steps:

-The applicant registers and uploads information;

-EPC assesses the applicants materials;

-The list of eligible applicants is released to the public;

-The compensation beneficiary signs an agreement;

-The compensation case is made public.

Investors can also scan the QR code and join WeChat group to get a step-by-step guide of EPC compensation application and other information updates.

Conclusion

In the future, WikiFX will continue to carry out the EPC program and live up to the expectations and supports of investors and clients, striving to create a safer and cleaner forex environment.