logo |

News

    Home   >     Industry    >     Main body

    To Learn 7 Must-know Tips for Safe Forex Trading in 3 Mins!

    Abstract:Various forms of scams exist in the forex market. Here are 7 ways to easily avoid losing your money in such scams.
    Lark20200418-164459.jpeg

      The following thoughts were shared by WikiFX with you.

      1. If it looksawesome.

      Some forex websites that promise to make huge profits automatically soon, which should raise your first suspicion. There’s no free lunch in this market. They always try to sell such products which only have one page of attractive profits without no serious explanation. They only allow you to see how much dollars you can get,and you never see the negative information on their website.

      2. Talk toCustomer Support:

      WikiFX suggests talking to people in the company before you are ready to trade. Because they will help you, especially novice, to choose a product which is best-suited for you. On the other hand, after talking with people who work in the company, you can find that they know their products well. But you still need to verify that they really stand behind their products.

    image.png

      3. GOOGLEis your best friend.

      This method is the simplest, but it is often overlooked by people. Using Google to search the product helps you find problems. For Nigerian, Nairaland forum is a good place to capture the information of illegal brokers. You can google “illegal broker” or “scam” or”sucks” , then you will find lots of scam cases of real people who have already suffered.

      4. Spot scammers.

      As we all know, there are so many people pretending to be the staff from Binomo and Olymptrade to defraud investors on social media platforms. It has been proved that although the two companies are illegal brokers, they have official customer services support. So don't send money or provide personal information to suspected brokers, who always try to get your money or information by false messages, calls or emails.

    image.png

      5. Dont deposit easily at any platform for a promise.

      Scammers always promise you a high return in a few days without any paper contract, and payment is conducted by mobile money transfer. They always ask you to pay extra money so that you can withdraw the money deposited. If you do so, they would disappear with your money. While, legal brokers provide contract and formal transfer link for you to protect your legitimate rights and interests.

      6. Regulation:

      An legal broker in the market will be regulated by at least one authority.A stamp from the NFA, FSA, CFTC or another reputed institute in a normal country doesn’t mean that the company is bona fide, but it’s better than nothing.

      

      7. MT4 system

      MT4 is a trading tool for each trader. The trend of currency will be shown on it. So when brokers claim that they are doing forex business without MT4 system, and tell you they can promise you twice or triple profits if you invest, please be careful with them.

    image.png

    image.png

      WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

      It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFX’s social media account as below:

      Facebook:

      Nigeria Area:https://www.facebook.com/WikiFX.ng

      LinkedIn:

      Nigeria Area:https://www.linkedin.com/company/31506916

      Twitter:

      Nigeria Area:https://twitter.com/WikiFX_NG

    image.png

      Wiki Forum Forum Function:

      In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

      The exposure function of “WikiFX Forum” includes the following features:

      1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

      As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

      2: Block low score brokers from entering the forum

      3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

      4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

      WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

      Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

      Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

      Worried about missing out latest trends in the volatile market? WikiFX ‘News Flash’ is here to help!

    image.png

      With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

      Nigeria Area:https://live.wikifx.com/ng_en/7x24.html

    Latest News

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United Arab Emirates Dirham
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.