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    Rinfx refused withdrawal application and closed website

    Abstract:Recently, investor reported to WikiFX that Rinfx closed its withdrawal channel, leaving investor unable to withdraw. Per investigation, WikiFX found the broker’ s website was inaccessible, which indicates its potential risk of absconding.
    微信封面EN.jpg

      Recently, investor reported to WikiFX that Rinfx closed its withdrawal channel, leaving investor unable to withdraw. Per investigation, WikiFX found the broker' s website was inaccessible, which indicates its potential risk of absconding.

    描述.jpg

      Investor reported Rinfx to WikiFX

      Investor provided ID card to ensure a authentic complaint.

    身份证.jpg

      Investor' s ID card

      1. Opened an account at Rinfx by analyst' s referral.

        In October, 2018, when Ms. Xu was recommended to make deposit to Rinfx by an analyst of gold futures, but she declined at first. With the temptation promised by the analyst that investor can make profit easily at Rinfx by following instruction, finally she opened an account on October 26th, 2018.

      入金.jpg

        Deposit record from Ms. Xu' s bank statement

        2. Withdrawal requests constantly rejected.

        In December, 2018, Ms. Xu filed withdrawal application as she had been losing money for 2 months, instead of profiting easily as the analyst said.

        Rinfx rejected her applications lodged on December 10th and 11th respectively for the reason of “mismatched information”.

        Last December 24th and 25th, Ms. Xu filed two more withdrawal applications, which were rejected again for platform integration. So withdrawal applications wouldn' t be processed until January 20th, 2019.

        By the end of January, Ms. Xu anxiously applied to withdraw for the third time. But till now, the two applications filed on January 29th are still “in progress”, leaving her unable to withdraw.

      出金.jpg

        Ms. Xu' s withdrawal record

        3. Analyst and signal provider didn' t offer any solution.

        Unable to withdraw her money, Ms. Xu turned to the analyst that recommended Rinfx for help. But he just told Xu to wait patiently without providing any solutions.

      对话1.jpg

        Ms. Xu' s conversation with the“analyst”

        Ms. Xu tried to contact the signal provider, who also told her to wait as well.

      对话4.jpg

        Screenshot of Ms. Xu' s conversation with the analyst

        4. The withdrawal channel was closed.

        Having waited for about 10 days after failed withdrawal attempts, Ms. Xu found an announcement on Rinfx' s website, which claimed the withdrawal channel was closed due to Unionpay channel maintenance, and investors who have withdrawal request need to wait patiently.

        Therefore, not only can' t Ms. Xu get a refund from previous withdrawal attempts, she cannot get the rest of her money back, either.

      余额.jpg

        Ms. Xu' s account balance

        5. Rinfx' s website can' t be found

        Our investigation suggests Rinfx' s website is currently unavailable, which means there' s little hope for Ms. Xu to get her money back.

      官网.jpg

        Rinfx' s website can' t be found

      About Rinfx

        Regulation

      监管.jpg

        Rinfx' s regulation information from WikiFX App

        Further investigation shows Rinfx holds NFA(US)' s license for generic financial service. Without authorization in Forex brokerage, the company operates in overrun business, which indicates significant risk.

        Network Diagram

      关系族谱.jpg

        Rinfx' s network diagram from WikiFX App

        Network diagram from WikiFX App suggests Rinfx is related to one company, DECFX.

        Notably, per the exposure information of Rinfx, Ms. Xu is one of the victims who were cheated by the trap of “signal provider”. Investors should definitely watch out for such scams.

      rinfx界面.jpg

        Screenshot of Rinfx' s interface from WikiFX App

        Investigation shows Rinfx, rated at 2.98 on WikiFX, operates in overrun business under NFA(US)' s license for generic financial services, having considerable risk. According to previous exposure information, Rinfx swindles investors by the trap of “signal provider” and refuses their withdrawal request frequently. With its website closed, the broker might have escaped, and investors are suggested to take prompt actions to safeguard your right.

      Conclusion

        WikiFX reminds investors to carefully check broker' s compliance and credibility before investing and do not blindly trust other people' s recommendations. If cheated by illegal brokers, keep the evidence and take prompt actions to curb your loss and protect your right.

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    • 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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