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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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