Don’t Be the Next Victim of TurboForex!

In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by SaFWat, an investor who sought WikiFXs help after being defrauded by TurboForex. He reported the illegal broker to warn other investors against it.

Complainant: SaFWat (Cairo,Egypt)

Illegal Broker: TurboForex

Website: www.turboforex.com

Account balance: USD 3,000

Withdrawal status: in process

Customer service: unavailable

Beware of TurboForex! I have been a customer of this forex broker since last May and have deposited US$2,000 in my account. At first, I received US$1,000 bonus from TurboForex WITHIN 24 HOURS! Thats pretty weird because I just started funding my account, but I thought I was lucky then (I must admit that I was a newbie and I entered a field that I knew little about). After around half a year, I decided to withdraw my money but only to find that my request was rejected. I was told by the customer service that CashU can only be used for deposits, not withdrawals. So I switched to another withdrawal option (they only support VISA or MasterCard), but AGAIN I was turned down! I kept on contacting the broker by e-mail and chat and sent the correct bank information every time but I got NO RESPONSE. I had made over 10 attempts to withdraw without any luck...the broker refused to pay out my money and might have escaped!

Deposit options

Deposit records

Withdrawal options

Withdrawal records

Many investors may ask, “It looks like the broker‘s offer can bring me big profits, but it may also be a way to trick me into making deposits, so how can I know whether my broker is a compliant one or not？ And how should I avoid being scammed？” The first step is to do a thorough search. That means checking a broker’s profile in detail, such as location of the broker's headquarter, how long it has been in business, its regulatory status and customer feedback. Make sure you dont miss anything suspicious. If you feel you are being scammed, contact us at wikifx@wikifx.com for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or apple store.

TurboForexs score in WikiFX App