|

News

    Home   >     Original    >     Main body

    Top 10 Most Complained Forex Brokers in April, 2019

    Abstract:WikiFX released the top 10 most complained Forex brokers list in April, 2019, offering a reference for investors to avoid the risks in a complex Forex market.

      WikiFX released the top 10 most complained Forex brokers list in April, 2019, offering a reference for investors to avoid the risks in a complex Forex market.

    微信封面EN.jpg

      The brokers listed are commonly complained against for the following problems such as postponing or rejecting withdrawal, causing heavy loss for investors due to misinformation of the signal-provider, arbitrarily closing investor' s account, deliberately blowing up investor' s account and having serious slippage.

      It is worth noting that most of them have low WikiFX rating, which are labeled “warning” by WikiFX. So investors can avoid the risk by examining the broker' s rating and compliance information by WikiFX App before investment. WikiFX reminds investors again to minimize your investment risk by carefully checking broker' s information.

      Here are the top 10 most complained brokers in April:

    外汇天眼发布2019年4月客诉排行榜EN.jpg

      Ho-Forex, unregulated broker with WikiFX rating 1.24;

      VALANT, illegal broker with WikiFX rating 1.44;

      UBFX, regulated broker with WikiFX rating 7.31;

      Myfx Markets, regulated broker with WikiFX rating 5.55;

      deVere, escaped broker with WikiFX rating 1.89;

      GMQ Group, unregulated broker with WikiFX rating 0.91;

      FIONA JUDD, illegal broker with WikiFX rating 1.19;

      JUMBO LUCK, unregulated broker with WikiFX rating 1.11;

      ACY, illegal broker with WikiFX rating 2.16;

      Tickmill, regulated broker with WikiFX rating 6.94.

      There are only 3 brokers who have valid regulatory status in the list, while the rest are unregulated brokers, among which 3 are labeled illegal brokers, 3 unregulated ones and 1 escaped. Investors should mind the risk and keep away from low-rating brokers.

      Topping the list, Ho-Forex has already been exposed by WikiFX in the article - Watch out! Stock Lecturers could be a group of scammers. With WikiFX rating 1.24, the broker is unregulated as its NFA license for generic financial service is no longer valid, suggesting significant risk.

    微信图片_20190505142041.jpg
    Ho-Forex' s interface from WikiFX App

      The following 3 brokers are illegal:

      Rated at 1.44 on WikiFX, VALANT uses pirated MT4/5 software with suspicious license, bearing significant risk. WikiFX exposed the broker for rejecting withdrawal and closing investor' s account in 2018, while plenty of similar complaints at WikiFX Exposure indicate such issue is common for VALANT and investors should stay away from it.

    微信图片_20190505142235.jpg

      VALANT' s interface from WikiFX App

      FIONA JUDD, another illegal broker, has also been exposed for rejecting withdrawal requests and maliciously manipulating investor‘s account by WikiFX in the report - Investor Made Loss due to FIONA JUDD’s “Automatic Trading”. Rated at 1.19 on WikiFX, the broker is heavily complained by investors who failed to withdraw, so please stay away from the broker.

    q.jpg
    FIONA JUDD' s interface from WikiFX App

      The last illegal broker ACY is rated at 2.16 and has been exposed for delaying investors withdrawal requests in past reports by WikiFX. Investors are advised to keep away from ACY.

    acy.jpg

      ACY' s interface from WikiFX App

      In addition, investors should also watch out for 2 risky brokers with unregulated status.

      GMQ, with WikiFX rating 0.91, currently has no valid regulatory status and uses non-MT4/5 software.

    GMQ.jpg

      GMQ Group' s interface from WikiFX App

      JUMBO LUCK, rated at 1.11 on WikiFX, uses white-label software with server set up in Hong Kong and has no valid regulatory status.

    JUMBO

      JUMBO LUCK' s interface from WikiFX App

      Conclusion

      It appears that these low-rating brokers, most of which have already been exposed, are labeled “warning” by WikiFX. But there are still many investors who fell victim to broker‘s traps. We kindly remind investors to carefully check broker’s compliance information and risk assessment on WikiFX App before making your investment, in order to avoid risks and safeguard your assets.

    Latest News

    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

    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
    Current Rate  :
    --
    Amount
    United States Dollar
    Convertible Amount
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    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 Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area