Previously we confirmed through on-the-spot investigation that Malaysian forex broker Albus Capital Inc. doesn’t exist at its claimed address and has no valid regulation. Due to the relatively weak regulation over finance and forex industry in Southeast Asian, such illegal brokers are everywhere in the region and with little efforts, they can lure unwary investors into their traps.
According to regulation information, the licensed branch of Plus500 in Singapore is located at 1 Temasek Avenue, #18-07 Millenia Tower, and we recently check out on Plus500 at the spot.
For this week’s global financial market, big events are likely to cause some ups and downs on the currency market dominated by US dollar.
The latest Triennial Central Bank Survey issued by the Bank of International Settlement (BIS) shows that compared with in 2016, forex spot trading has grown by 20% in the past 3 years, while swap trading has increased over a third and outright forwards increased 43%.
In our last visit, WikiFX confirmed that the licensed branch of forex broker XGLOBAL in Cyprus really exists and is in regular business. As the “eyes” and “ears” of global investors, we pay random visits to forex brokers around the world and make comprehensive assessments of brokers base on the results.
Investors might often heard about high leverage in forex investment, and tempting as the so-called “high leverage with high return” may sound, it often accompanies equally high risks, as there’s no such thing as a free lunch. Recently, WikiFX got a report from a victim of such “high-leverage” scam.
Regulatory information suggests AGRODANA’s licensed branch in Indonesia is at Menara Batavia Lantai 3A, Jl. KH. Mas Mansyur Kav. 126, Jakarta Pusat, and WikiFX recently visited the broker at the site.
On Monday, September 16th EST, the US Department of Justice charged 3 JP Morgan traders of gold and other precious metals for alleged market manipulation. The alleged scheme caused investors heavy losses while bringing great profits to the company.
ECB Executive Board member Sabine Lautenschlaeger unexpectedly stepped down with 2 years remaining in her term. She earlier showed unprecedented strong disapproval to the latest stimulus measures of EBC President Mario Draghi , and news of her resignation shocked the market.
Bank of Italy Governor Ignazio Visco said European Central Bank (ECB)’s decision earlier this month to cut interest rate further below zero and resume bond purchase is appropriate for reviving the ailing economy of the Euro Zone.
The US and Japan have just struck a limited trade deal. As the first phase of a more extensive agreement, it opens the Japanese market for US agriculture products worth of 7 billion USD.
Malaysia ringgit rebounded after FTSE Russell announced in the fixed income report its decision to keep Malaysia on the watch list. Earlier this April, News of Malaysia’s potential exclusion from the World Government Bond Index (WGBI) had dampened interests and demand for Malaysian government bonds, which led to a short spike of bond yield. FTSE’s latest decision has been more or less of a comfort for Malaysia.
Last week (September 23-27), spot gold price tumbled due to a surge of USD, falling nearly 20 dollars in a single week. Although US House of Representatives’ scheduled impeachment of President Trump temporarily boosted gold price during the week, other factors such as bullish US dollar and improving risk appetite of the market have weighed on it.
Philippines Pesos went up after BSP( Bangko Sentral ng Pilipinas, Philippine’s central bank) announced its interest rate cut. But USD/PHP didn’t quite respond to BSP’s lowering the benchmark rate by 25 basis points to 4.00%, largely because the move was in line with market forecast, so investors weren’t really surprised about the much expected change.
In the age of big data, it’s increasingly difficult for investors to verify the qualification and compliance of forex brokers. The internet has also become many illegal brokers’ tool for defrauding investors. Some make heavy advertising spending in order to increase market awareness, others set sophisticated traps that unwary investors easily fall into. Some brokers even attempt to cover up the truth and mislead investors by manipulating public opinions, such as deleting the unfavorable comments.
Illegal forex brokers always try to defraud investors with all kinds of tricks, but none of the tricks can fool investors all the time. To help investors avoid the traps of illegal brokers, WikiFX reviews investors’ reports of broker scams in September and lists the top 10 most-complained forex brokers as follows.
Wiki EXPO HCMC successfully wrapped up on September 21st. After countless days and nights of hard work, the devoted efforts of WikiFX members had finally paid off as the EXPO turned out even better than our expectations, attracting unprecedented number of attendees and over 50% of the local forex brokers while receiving wide acclaims from exhibitors and investors in unison.
The Reserve Bank of New Zealand (RBNZ) announced on Wednesday, September 25, 2019 its decision to maintain the current official cash rate, clearly showing a hawkish attitude in its public remarks. The short-term price of NZD to USD climbed over 40 pips to a weekly new height of 0.6347.
According to the address from regulatory information, WikiFX recently visited the Singapore office of licensed forex broker IG, located at 9 Battery Road #01-02 MYP Centre.
The forex market is a mixture of both compliant and illegal brokers, which makes it difficult for investors to distinguish between them. Some unscrupulous illegal brokers thus fake their compliance and defraud unwary investors.
Los datos de WikiFX provienen de datos oficiales de los organismos de supervisión de divisas, por ejemplo, la FCA británica, el ASIC australiano, etc., los contenidos publicados también se basan en la imparcialidad, objetividad y búsqueda de la verdad a partir de los hechos, las tarifas de gris, como las tarifas de relaciones públicas, de publicidad, de ranking y de limpieza de datos no se cargan a la plataforma de intercambio de divisas. WikiFX hará todo lo posible para mantener la coherencia y sincronización de nuestros datos con fuentes de datos autorizadas, como los organismos de supervisión, pero no promete ser coherente y sincronizada con ellos en tiempo real.
En vista de las complejidades de la industria de divisas, no se excluye que los comerciantes individuales de divisas obtengan el registro legal de los organismos de supervisión a través del engaño. Si los datos publicados por WikiFX son inconsistentes con la situación actual, envíenosla a través de las funciones "Quejas" y "Corrección" de WikiFX de divisas, lo revisaremos y verificaremos a tiempo y anunciaremos los resultados relevantes.
El contrato de divisas, metales preciosos y diferencia de valor (transación fuera del sitio) es producto apalancado que presentan un alto nivel de riesgo, y pueden resultar en la pérdida de su capital de inversión, por favor invierta racionalmente.
En particular, la información que aparece en WikiFX es solo para referencia, y no constituye un consejo de inversión. La plataforma de divisas es seleccionada por el cliente por sí mismo, el riesgo que conlleva la operación de la plataforma no está relacionado con el WikiFX, y el cliente tiene que asumir las consecuencias y responsabilidades relevantes por sí mismo.