Abstract：How should investors choose among the many Forex traders? Taking FITBELA EPRO LIMITED as an example, this paper discusses how to judge whether a forex broker is trustworthy.
Just few days ago, WikiFX received another exposure from an investor in The United States, who said that the trader could not withdraw money from his account. Here is a screenshot of his remarks.
The complainant alleged that all his money was in FITBELA EPRO LIMITED, which prevented him from accessing it by various means and reasons. In fact, we recently received more than 10 requests from investors seeking help from WikiFX, complaining that FITBELA EPRO LIMITED is nothing but a totally “forexscam”.
How to judge whether a forex broker is trustworthy？ Foremost, investors can view the broker's reviews through WikiFX. The fact that there are so many negative reviews on WikiFX about FITBELA EPRO LIMITED also proves that dealing with a brokerage is dangerous and you should think twice about it.
Secondly, in order to understand the operational philosophy and basic information of FITBELA EPRO LIMITED, we will definitely go to its official website.
From above screenshot you may know that the website is not accessible any longer. Its really disappointed! Without access to the official website, we cannot know more about its important information, such as software information and transaction conditions, let alone judge whether their regulations meet the standards of the financial industry. But such a invalid website is further evidence that FITBELA EPRO LIMITED is running some sort of scam and may running away with investors money!
Thirdly, we will definitely do to go to the financial regulator to check if they are authorized. FITBELA EPRO LIMITED claims they are an authorized forex broker in the UK with a long history of providing quality financial services and delivering quick profits to investors. To confirm this, WikiFX visited the website of the FCA, the UK's most authoritative financial institution, to see if it had any information relating to FITBELA EPRO LIMITED.
Not surprisingly, there is no information on the FCA relating to FITBELA EPRO LIMITED. Before trusting anyone with your money, it would be best to check if they are licensed as they claim. If the firm does not mention a license, it should be avoided, since unregulated companies are very dangerous.
Last but not the least, the most convenient way to understand a broker is to search through WikiFX. 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. Now let's search “FITBELA EPRO LIMITED” 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/9360920412.html). FITBELA EPRO LIMITED has no valid regulatory license and the score is rather negative - only 1.26/10! WikiFX will comprehensively score dealers in five aspects: license index, business index, risk control index, software index and regulatory index. Since FITBELA EPRO LIMITED does not have any supervision and does not obtain regulatory license, its license index, risk control index and regulatory index are all 0 points, and the final total score is 1.26 points (full score of 10 points). Investors can understand the overall situation through WikiFX, the higher the score is, the more reliable the broker is.
To sum up, it can be concluded that Fitbela Epro Lite has a high transaction risk. Investors are advised to search the above channels for information about the brokerages you tend to trade with before deciding whether to invest, but the easiest way for most investors is to do a Wikipedia search. This is not only to say that the information is very comprehensive, covering all our channels of inquiry information, more importantly, the information is very accurate, can save investors time and tedious steps.
All traders should be vigilant when investing in a 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.