Abstract：Abstract：The UK regulator FCA issued an official warning against TradeFX on September 21th!!!
Investors who are still trading forex at TradeFXhad better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!
Breaking news! TradeFX has attracted the attention of the Financial Conduct Authority(FCA)in the UK, which warns on September 21th that TradeFX is an entity that is not authorised to offer financial services. You may check the warning on the screenshot below. Source: TradeFX | FCA
The FCA announced that the firm has been offering its services without the appropriate licensing and therefore you would not be entitled to any protections. This warning reminds investors that trading forex with ForexFX is very dangerous because any of your financial activities are not protected by FCA. Once things go wrong you are unlikely to get your money back.
TradeFX claims it also has an office in Singapore and is the most trusted forex broker in the country. To see if it was right, WikiFX took a hard look at their registration with the Monetary Authority of Singapore (MAS). But the results are often disappointing - there was no company or brokerage called TradeFX to be found on the Monetary Authority of Singapore (MAS).
Both the FCA's warnings and MAS's inquiries tell us that TradeFX is lying, claiming to be locally regulated when the truth is otherwise. The FCA's warning is absolute proof that TradeFX is an officially exposed hoax and we should be vigilant and stay away from it. The only way to be sure that your investments are properly managed and that you would be treated fairly and in accordance with all laws would be to turn to a licensed, legitimate broker.
In addition, WikiFX made an attempt to visit the brokers official website to find out more information（https://www.tradeforex1.com/）.
But to my surprise, the site is completely anonymous, with no useful information other than three blue ICONS. This is absolutely nonsense as the UK does not allow any anonymous websites to offer financial products and services. Without access to the official website, we cannot know more about their basic information, such as software information and transaction conditions, let alone judge whether their regulations meet the standards of the financial industry. But such a humble website shows that TradeFX is running some sort of scam .TradeFX might have gone bankrupt and running away with investors money!
When faced with the little information on Internet, we can totally trust and use wikifx to learn more about forex broker. It is certainly the most convenient and quick inquiry mode for ordinary investors. Now let's search “TradeFX” on WikiFX APP to find out more about this broker.
As you can see, based on information given on WikiFX(https://www.wikifx.com/en/dealer/4941961011.html), TradeFX currently has no valid regulatory license and the score is rather negative - only 1.76/10! WikiFX will give brokers a composite score in five categories: license index, business index, risk control index, software index and regulatory index. Since TradeFX does not have any supervision and does not obtain a regulatory license, the license index, risk control index and regulatory index all score 0, and the final total score is 1.76 (out of 10). Investors can see the overall situation through WikiFX, with higher scores indicating a more reliable broker.
From all the above information we can know that trusting a broker like TradeFX is simply not worth it – you will certainly end up robbed. The so-called brokerage is nothing more than an outright scam. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers. Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers.
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.