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Investor Can' t Withdraw Money from FSFX

Abstract:Recently WikiFX received investor' s complaint of FSFX for they declined his first withdrawal application. The investor failed to reach the customer service in any means and couldn' t withdraw the money from his account.

Deposit easily, but withdraw hard.

Investor' s first withdrawal request was rejected.

Beware of it.

  Recently WikiFX received investor' s complaint of FSFX for they declined his first withdrawal application. The investor failed to reach the customer service in any means and couldn' t withdraw the money from his account.

The investor reported FSFX

  Mr. Yuan filed a real-name complaint about FSFX by presenting his ID card to ensure authenticity.

Investor' s ID card

  Event recap

  Per Mr.Yuan' s said, he opened an account and started to deposit money to FSFX last September under the recommendation of a third-party depository agency.

Screenshot of Mr. Yuan' s deposit records

  While trading on the platform, Mr. Yuan kept on losing money, and he made a withdrawal request this February. But the request is still being processed, so he hasn' t received the money till now.

Screenshot of Mr. Yuan' s withdrawal records

  Mr. Yuan tried contacting different customer service staffs, but didn' t get any reply.

  Screenshot of Mr. Yuan' s conversation with different customer service staffs

  To date, Mr. Yuan' s request has not been dealt with and there seems little hope for him to get back the money in his account .

Screenshot of Mr. Yuan' s account balance

About FSFX

  Regulatory Information of FSFX

Screenshot of FSFX' s regulatory information from WikiFX App

  According to the regulatory information from WikiFX App, FSFX holds NFA(US)' s license for financial service only. Without the authority of providing Forex brokerage service, it operates in overrun business in China, having substantial risk.

  MT4/5 identification

Screenshot of MT4/5 identification from WikiFX App

  It has been verified that FSFX uses white-label MT4 trading software, with both servers set up in Hongkong. White-label platforms are generally low in cost, being of considerable risks.

  Network diagram

Screenshot of FSFX' s network diagram from WikiFX APP

  Further investigation shows FSFX is related to 2 white-label Forex brokers including FXRHS and RiseHill.

Conclusion

Screenshot of FSFX interface from WikiFX App

  Our verification suggests that FSFX has a rating of 3.21 only, and operates in overrun business in China for its NFA(US)' s license just for general financial service.

  In addition, it uses white-label MT4 software and has considerable risk. Finally, it is illegal to reject investor' s first withdrawal request, making investor unable to receive his money. Thus we suggest investors to stay away from this broker to avoid potential financial loss.

  It' s also wise not to trust unverified third-party depository agency and stock lectures blindly. And investors are strongly advised to check broker' s information by WikiFX App in order to avoid potential risk and ensure the safety of your investment.

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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
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