Unlike other financial markets, the forex market is not a tangible place in reality where forex deals take place. Instead, It’s a network of transactions between banks, businesses and individuals - a virtual market in which forex brokers play the crucial role of intermediary. The booming forex industry has seen a proliferation of forex brokers of mixed qualities, making it hard for investors to verify brokers’ profiles and decide which is trustworthy. Consequently, investors often fall victim to forex scams during investment.
Last time, we visited Deutsche Bank--the best private bank in Germany. It turned out that the location of its Malaysian licensed office corresponds to the regulatory information. The company is in business under the regulation of LFSA. Today, we're visiting United Overseas Bank Limited in Malaysia.
The releasing of NFP and interest-rate cut stirred up the forex market, causing mixed feelings among investors. During such a time of volatility, WikiFX conducted a massive trial trade among 94 forex brokers and after analyzing and comparing their trading speed and slippage, listed the top 20 brokers. The result of this experiment presents investors the competence of each broker and helps them gain a comprehensive view.
Recently, China’s leading forex media WikiFX officially opened its Vietnam branch in Landmark 81, the tallest landmark skyscraper in SE Asia. This marked another major step of WikiFX to expand its SE Asian market, as well as a countdown for the Wiki EXPO kicking off on September 21st in HCMC.
Do you know the forex market is the largest financial market in the world, with over US$5 billion traded every single day? Driven by high profits, illegal forex brokers take every chance to exploit this 24h/5days market for illicit profits.
In the age of internet, advertisements have become ubiquitous in people’s daily life. Forex brokers also attach great importance to advertising and make large spending on this point to increase their market exposure and attract more investors.
WikiFX got many investors’ reports that they couldn’t access the platform of SVSFX. The notice on SVSFX website revealed a surprising news: the broker, regulated by FCA and was in business for over 10 years, was bankrupted on the same day, and information on FCA’s website also confirmed the news.
WikiFX recently established strategic partnership with Vietstock, one of the largest financial media in Vietnam. By deepening cooperation online and offline, the two partners aim to popularize forex education in Vietnam and promote local financial development and prosperity.
Nowadays, the proliferation of brokers on the forex market makes it harder for investors to make a choice. Without knowing about the brokers thoroughly, investors can be easily swindled by illegal brokers. Recently, Mr. Jin reported the illegal forex broker AILEN to WikiFX and shared his experience.
his July, Deutsche Bank announced its strategic transformation plan to exit equities sales & trading business and cut business costs, significantly downsizing the investment bank as a result. The big step immediately made headlines around the world. Upon investors’ request, WikiFX visited Deutsche Bank’s licensed office in Malaysia.
As the world’s largest financial market, the forex market attracts the largest number of investors with many strengths such as large trading volume, high transparency, flexible leverage and relatively lower trading costs. However, forex investors often have a hard time verifying the information of brokers based overseas, or even in China, because these brokers are scattered across the world.
Recently, WikiFX visited WorldFirst in London to bring investors more detail information of the broker.
The forex environment is changing for the better as regulation policies tighten, and high rated brokers are expanding their market share. However, many illegal brokers still lurk around the market and block investors’ withdrawal or even escape after defrauding investors. Recently, investor Mr. Chen reported forex broker HuanYu to WikiFX in hope his experience of being defrauded by the illegal broker can be a reminder for other investors.
As the financial market with the most frequent transactions, forex market has been the first choice of global investors due to its high efficiency, flexibility and liquidity.
WikiFX team recently visited Wintrado’s licensed office in Cyprus, located at 254 Arch. Leontiou A, Suite 22, Limassol according to regulatory information.
Forex market is the largest and the most liquid market in the world, with around US$5.3 billion daily trading volume. There are many benefits of trading forex, including convenient market hours, high liquidity and the ability to trade on margin, that appeal to investors. Despite its huge size, forex trading is much scattered without a centralized global regulator. Driven by high profits, illegal brokers try to cheat investors by all means, such as presenting cloned licenses.
On September 21st, 2019, Wiki Finance EXPO will come to Ho Chi Minh City(HCMC), Vietnam for the first time and present the guests a long-expected forex feast.
The case involved two brokers, FORMAX and AAAFx.
After its office in Shenzhen was closed under investigation of the Industrial and Commercial Bureau, the illegal forex broker ACY has returned with more intense marketing efforts in July. Meanwhile, WikiFX has got over 14 complaints against the broker in the past 3 months from investors, who suffered heavy loss for ACY’s illegal behaviors including causing slippage, blocking withdrawal or deactivating their accounts illegitimately. WikiFX thus visited the headquarter of ACY to bring investors first-hand information about the broker and help investors avoid potential risks.
WikiFX | News 2019/8/23 9:44:45
The data of WikiFX all comes from official data of various forex regulatory institution such as FCA,ASIC，etc. These data are all purpose of being fair、objective and realistic,which doesn't ask for any public relations fees, advertising fees, ranking fees, data removing fees and other gray fees.WikiFX will do its best to maintain the consistency and synchronicity of its data with that of authoritative data sources with regulatory authorities, but will not undertake to keep it consistent and synchronized in real time.
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 Notice: Information provided by WikiFX is only for reference and does not indicate any investment advice. Investors should choose brokers by themselves. The risk involved with brokers is not relevant with WikiFX. Investors shall bear the relevant consequences and responsibilities on his own.
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