Anyone who invests in the forex market has to bear some of the risk, but that is no reason for brokers to commit fraud. However, with the recent proliferation of broker fraud, the cases of fraud were also repeated. The British authorities receive different complaints of fraud on a daily basis and the FCA draws up a blacklist of scam brokers based on investor complaints, please kindly check the warning on the screenshot below.
According to the FCA, none of these brokers is authorized to offer financial services in the UK. In fact, the FCA has stated that these are not licensed brokers and therefore you would not be end to any protections. Such warnings prove with almost absolute certainty that a company is running some sort of scam – so refrain from choosing shady enterprises that have received the negative attention of reputable financial authorities like the FCA. The only way to be sure that your investment is in good hands and that you would be treated fairly and in accordance with all laws would be to turn to a licensed, legitimate 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.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!
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