HTFX Moves to Exit the UK as More Brokers Step Back From FCA Licences
HTFX’s withdrawal from the United Kingdom comes amid a broader wave of brokerage firms reassessing the value of maintaining FCA licences.
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FVP Trade: A Ponzi Scheme You Need to be Aware of
Abstract：FVP Trade is a CFD broker that has recently gained the attention of the WikiFX investigation team as we have been constantly receiving complaints regarding the true nature of this broker. It is suggested that FVP Trade is a Ponzi scheme in disguise and today WikiFX is going to unveil the truth.
The official website of FVP Trade is fvptrade.com. The first impression of the website is that it looks well-built and professional.
FVP Trades business address stated on its Contact Page is Ashley Ritter Building, Fleming Street, Road Town, British Virgin Islands. They can be reached through email at support@fvptrade.com or via the 24/5 live chat support.
On its official website, it is stated that FVP Trade is registered with the British Virgin Islands and its company number is 1958626.
To confirm its registration, we went onto the official website of British Virgin Islands Financial Services Commission (www.bvifsc.vg).
Here, we found the certificate of incorporation (C59CA06DFC) which proved FVP Trade was indeed registered with the BVI since October 2017.
Market Instruments & Trading Platform:
FVP Trade offers the trade of forex, precious metals, indices/futures, commodities as well as cryptocurrencies.
Unlike many of its peers who offer both MT5 and MT4 trading platforms, only MT4 is available on FVP Trade.
Account Types:
There are also not many account types to choose from. Judging from FVP Trades official website, it seems like trading clients can only choose between a demo account and a live account. In addition, they also offer PAMM account trading and even offer the opportunity for their trading clients to sign up to be a fund manager.
Regulatory Status:
The biggest red flag of FVP Trade is that it does not hold any legitimate and valid licenses. There is no information regarding its regulatory status on its website too.
WikiFX is a global forex broker regulatory query platform that investigates, evaluates, reviews, and rates forex brokers all over the world. Looking at FVP Trades profile on the WikiFX app, it is evident that the lack of licenses and information, alongside the overwhelming amount of Exposure pieces received recently, FVP Trade deserves its low rating and score.
WikiFX has plastered a warning sign to keep our users away from FVP Trades because we highly suspect that this broker is using its PAMM services as a disguise for a Ponzi Scheme – this is a common tactic used by fraudulent forex brokers.
Read more about it here: https://www.wikifx.com/en/newsdetail/202207183254743592.html.
Starting from December 2021 to date, WikiFX has received nearly 30 Exposure pieces that centre around FVP Trade being a ponzi scheme.
WikiFX does not recommend FVP Trader as it possesses a lot of underlying risks without any valid license or regulatory status. There are many other (and better) fishes in the ocean. WikiFX would encourage users to get your hands on our free mobile app or website www.wikifx.com to look for a more appropriate broker to entrust your trading funds.
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.
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GMI Ends Retail Brokerage Operations and Relinquishes FCA Licence
Retail forex and CFDs broker GMI has brought its long-running brokerage business to an end, marking the close of roughly 16 years of operations.
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Pepperstone User Reputation: Looking at Real User Feedback and Common Complaints to Check Trust
When traders ask, "Is Pepperstone safe or a scam?" they are dealing with a basic problem in the trading world. On one side, Pepperstone is a well-known broker globally, with licenses from some of the strictest financial regulators. On the other side, ongoing user complaints raise serious questions about how reliable it is. Answering this question needs more than just a simple "yes" or "no." It requires a careful look at the evidence. This article works as an investigative report, designed to break down the puzzle of Pepperstone's reputation. We will go beyond marketing claims and look at objective, checkable data taken directly from WikiFX, a global broker regulation inquiry platform. By looking at its regulatory status, client protection measures, and most importantly, the patterns found within 29 documented user complaints, we aim to provide a clear view of Pepperstone's trustworthiness. Our goal is not to make a final judgment, but to give you the data needed to make your own inform
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A Comprehensive PINAKINE Review: What Traders Need to Know
PINAKINE Liquidity has been in the news for alleged forex trading discrepancies recently. These include the lack of deposit credit into the platform and the poor response from the customer support official. All these have allegedly led to a fund scam. The overall report for the broker is not encouraging either. The broker manages a very poor trust score of 1.22 out of 10 from WikiFX, a leading forex broker regulation inquiry app. In this PINAKINE review article, we have investigated the company profile, trading conditions, user reports and more. Let’s read on!
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