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    Investor Shared Experience of Being Defrauded

    Abstract:Recently, WikiFX received investor’s complaint against ATOM, who not only rejected investor’s withdrawal application but also closed investor’s account, while their customer service offered no assistance other than suggesting investor to call the police or seek media attention. Investor thus reported ATOM to WikiFX.
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      Recently, WikiFX received investor‘s complaint against ATOM, who not only rejected investor’s withdrawal application but also closed investors account, while their customer service offered no assistance other than suggesting investor to call the police or seek media attention. Investor thus reported ATOM to WikiFX.

      Investor' s experience

      In March, 2019, I heard about Forex trading from a friend, who kept saying I could easily make profit just like him by following his steps in investments. Finally, I couldn't resist the temptation to open an account at ATOM and started to trade.

    1.jpg

      It all went well at first. I had been profiting overall for half a month, accumulating a considerable amount of money in my account. Happy with the result, I applied to withdraw $30,000 on March 18th.

      Though excited about the investment gains, I also felt nervous as I wasn' t sure when I' ll receive the money.

      Much to my relief, I found my application approved and balance deducted when I logged in my account the next day, so I expected to get the money soon.

      Later I withdrew $18,000, and waited for it to be processed. I was so excited when seeing the first application was approved. At the same time, I consulted the ATOM salesperson about exchange rate, in hopes of making another deposit.

      The $18,000 withdrawal application remained “in process” when I checked a day later. Maybe it was influenced by the first application, so I wasn' t worried that much. A few days later, I started to be anxious as I still didn' t receive the money, while the second application remained unapproved.

    2.png

      Only when I tried to contact the aforesaid salesperson did I realize he had already stopped replying my messages, so I reached out to another ATOM salesperson and complained about the withdrawal failure, but he offered no solution other than suggestion - call the police. I realized that this could be a scam.

      Having waited for over 10 days, I found the salesperson had deleted me from WeChat, and didn' t receive email reply from ATOM.

    5.jpg

      At first, I thought the withdrawal failure was probably influenced by ATOM' s efficiency. But I didn' t realized it was Forex scam broker until my account was suspended. I was totally hopeless when all the money in my account couldn' t be withdrawn.

      Hopefully WikiFX can help me get the money back by media exposure and remind investors to stay away from the fraudulent broker.

      About ATOM

      Regulation Information

    监管.jpg

      ATOMs regulation information from WikiFX App

      Though ATOM claimed to hold many licenses, WikiFX has confirmed through investigation that 3 licenses have been canceled by regulators, except for the NFA(US)s license for generic financial services. Without the authority to operate Forex brokerage business, the broker has considerable risk. So investor should beware of it.

      MT4/5 Verification

    MT4.jpg

      ATOMs MT4/5 verification from WikiFX App

      Through checking WikiFX App, ATOM uses white-label MT4 software with servers set in the US. Investors need to understand the risk of white-label brokers, as they are usually low in costs.

      Network Diagram

    族谱.jpg

      ATOMs network diagram from WikiFX App

      Network diagram suggests ATOM is related to a company named Unicorn Finance and a white-label broker UNION FOREX.

      WikiFX Rating

    ATOM.jpg

      ATOM s interface from WikiFX App

      Per the information from WikiFX App, ATOM is rated at 3.21 and operates in overrun business, having significant risk. In addition, the broker blocked withdrawal applications and arbitrarily closed investors account. Investors are suggested to stay away from it.

      Conclusion

      Once again, WikiFX reminds investors to carefully check a broker‘s compliance instead of following other people’s recommendations blindly, in order to ensure safe 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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