Australian economy appeared sluggish in 2019. Stagnant wage growth and debts piling up have made consumers significantly reduced their spending, and though Reserve Bank of Australia had lowered the interest rate by 0.75% through 3 rate-slashes, private consumption remained low.
UK’s FCA(Financial Conduct Authority) has always been at the forefront in the fight against scam brokers, and the regulator recently put several companies, including LukeTradesFx, on a warning list to help investors stay away from possible frauds.
AFX Group is a retail forex broker licensed by the FCA(UK) and CySEC(Cyprus). In July last year, the Cyprus Securities and Exchange Commission(CySEC) suspended the license of forex broker AFX Capital Marekets for 10 days, because the broker violated customer funds protection regulations and caused negative impact on the orderly and stable development of the market. Later, the British Financial Market Conduct Authority(FCA) also suspended the company's license. In order to protect investors' assets safety, WikiFX team visited AFX Group in Cyprus.
WikiFX is scheduling an exposition this year in Dubai, the financial capital of the UAE, and as the initial preparations proceed recently, we received a complaint against broker XM from Mr. Sadon, an investor from Saudi Arabia. He shared his experience of suffering unjustified losses when trading on XM, in order to warn other investors against the broker.
For the first time since May, the yen’s rate has dropped below 110 per USD, as positive outlook for the trade agreements has weakened market demand for safe-haven assets. Before the first phase of the trade agreement was signed on Wednesday, the U.S. government removed the “currency manipulator” label imposed on China.
Although PTFX has already become a notorious scam broker in the forex circle, but the company still hasn’t given up the chance to lure more unwary victims into its trap with its high publicity. Recently, WikiFX received complaint from another investor who fell victim to PTFX.
As an emerging power on the global financial market, Indonesian brokers are gaining greater visibility on the international stage in recent years and have attracted growing attentions from investors. Indonesia, the most populous of Southeastern countries, has been home to hundreds of forex brokers so far. Today, WikiFX is visiting the broker Megagrowth.
Unregulated brokers who block withdrawals can count as one of the worst nightmares of forex investors. Bear in mind that there's no such thing as a free lunch. Don’t be fooled by empty promises of scammers and focus only on profits, because when you indulge yourself in the illusion of becoming rich, you can easily neglect the huge risks and potential losses that hide behind.
As WikiFX team continues the journey of visiting Indonesian brokers, we concluded the survey tour on Royal Trust and moved on to visiting forex broker BPF.
An investor from Thailand recently told WikiFX his experience with the broker EXNESS.
A report released by the US Commodity Futures Trading Commission (CFTC) on Monday (January 6th, 2020) showed that as of the week from December 25th to December 31st,2019, speculative net longs in US dollars decreased by 1,177 to 12,054 contracts, indicating that investors have become less bullish on the US dollar.
As the most populous Southeastern Asian country, Indonesia has seen a thrive of its financial industry in recent years. But despite the massive scale of its economy, the country still has a long way to go in terms of financial regulation credibility. Upon investors’ requests, WikiFX team has been visiting forex brokers based in Indonesia. After checking out on Soegee Futures last time, we’re visiting Royal Trust on this trip.
The Reserve Bank of Australia is likely to mention the negative effects of the wildfire on economic outlook in the February policy statement. The main short term impact of wildfire will be on farm production and private investment.
Recently, Mr. Lin, a Malaysian investor, reported to WikiFX how he was defrauded by the illegal forex broker Stone Lion.
Near the end of the year, forex market is still busy as ever, while the illegal forex brokers are taking the opportunity to defraud investors. Forex scams related to exchange rates are difficult to curb despite the regulatory efforts. Upon investors’ request, WikiFX team recently visited the licensed branch of forex broker 33option in Cyprus.
In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. These illegal brokers target the typical mindset of investors to make money quickly and induce investors to engage in unregulated or high-risk investments, causing them heavy losses. Recently, Ms. ANGELIC0905 from Indonesia told WikiFX about how she was defrauded by the illegal broker OLYMPTRADE.
Having said goodbye to 2019, the forex market soon entered the first trading day in 2020. Due to the long holiday, the market has not been very liquid at the start of a new year. USD may be largely affected by political factors, while the move of other currencies this week has been signaling further trend. Let’s take a look on the forex market in the first week of 2020.
Regulatory information suggests that the licensed branch of forex broker Pasifik Futures in Indonesia is at APL Tower Central Park Lantai 30, Jl. LetJend S. Parman Kav. 28 Jakarta Barat, and WikiFX team recently visited the broker at the spot.
Despite all the forex scams being exposed on media everyday, many investors still dive into the forex market with the hope of making profits; yet blinded by temporary gains they may unconsciously fall into traps. Recently, an Arabic investor filed a complaint against RCPro and told WikiFX how this illegal broker swindled his deposits.
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.