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    Watch out for illegal Forex broker under new ID

    Abstract:Recently, an investor wrote to WikiFX complaining about 2 illegal brokers, including one already exposed by WikiFX.
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      Recently, an investor wrote to WikiFX complaining about 2 illegal brokers, including one already exposed by WikiFX.

      According to Mr. Pan, he made a deposit and started copy-trading on VALANT in October, 2018 upon recommendation of a colleague. Strangely enough, all deposits were made by Mr. Pan' s referrer with the money transferred by Mr. Pan.

      

    1.jpg

      Mr. Pan' s transaction record

    2.jpg

      Mr. Pan' s WeChat transaction record

      Coincidentally, Mr. Pan who deposited money to VALANT in less than a month learned from WikiFX' s exposure article last October that VALANT refused withdrawal and closed investor' s account. In view of VALANT being illegal broker, he submitted withdrawal application of all money next month. Unfortunately, he didn' t escape from the trap of VALANT, which delayed his withdrawal request by different excuses for several months. Till now, Mr. Pan still cannot receive his money.

      By January, 2019, the signal provider sent a website in Mr. Pan' s WeChat Group and told all group members that money can be withdrawn by the new system. So Mr. Pan decided to file a withdrawal application again.

    3.jpg

      New system announcement from Mr. Pan' s WeChat group

      After logging in the new website entitled JUMBO LUCK, Mr. Pan found that all his information was the same as that at VALANT, indicating that JUMBO LUCK is no more than a new ID of VAVANT, which simply moved all investors' information to the new platform. This was also confirmed in VALANT' s announcement.

    4.jpg

      VALANT' s announcement

      

    5.jpg

      JUMBO LUCK' s website information from WikiFX

      Apparently, VALANT and JUMBO LUCK have the same website.

      

    6.jpg

      Mr. Pan' s account on JUMBO LUCK

      

    7.jpg

      Mr. Pan' s account from his trading App

      By comparing the information above, we may safely conclude that JUMBO LUCK is VALANT under a new ID.

      And given that WikiFX had just exposed VALANT two month ago, its not hard to guess why the broker hastily closed its original website and started using a new name - JUMBO LUCK.

      

    8.jpg

      VALANT' s website is inaccessible

      Ignoring potential relation between the two names, Mr. Pan resubmitted a withdrawal application of $1,500 as per JUMBO LUCK' s withdrawal rule that set ceiling on amount. However, illegal platform never changes their nature of cheating investor. His withdrawal request remained unapproved.

      

    9.jpg

      Withdrawal request on JUMBO LUCK remained unapproved

      Mr. Pan contacted JUMBO LUCK customer service, who replied they were solving withdrawal channel problem, so patient waiting was needed.

    10.jpg

      Mr. Pan' s conversation with JUMBO LUCK customer service.

      The wait turned out to be endless and fruitless. As with VALANT, Mr. Pan still couldn' t get his money back to date.

      Mr. Pan provided his ID card to ensure an authentic complaint.

      

    11.jpg

      Mr. Pan' s ID card

      After being exposed, VALANT slyly took up a different ID and moved all investors' information to a new site, in order to keep on deceiving investors and lure even more investors into its trap. All these behaviors show the broker is truly unscrupulous.

      With its website unavailable, VALANT is labeled “illegal” on WikiFX App and investors can also find detail information of the broker on the App.

      As for JUMBO LUCK, VALANT' s new ID, here' s what we found through investigation:

      

    JUMBO

      JUMBO LUCK' s interface from WikiFX App

      

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      JUMBO LUCK' s MT4/5 verification from WikiFX App

      Rated at 1.12 without any valid regulation, JUMBO LUCK uses white-label MT4 software while its server set up in Hong Kong is entitled ValantfxDevelopment-Demo, suggesting the connection with VALANT.

      And Mr. Pan' s complaint further confirms JUMBO LUCK is exactly VALANT, the illegal broker which closed its website after being exposed by WikiFX and continues to cheat investors under a new ID, so please keep alert and stay away from the broker.

      

    族谱.jpg

      In addition, network diagram from WikiFX App shows JUMBO LUCK is related to a white-label broker GOOD RISING, which investors should also beware of.

      Conclusion

      As many illegal brokers like VALANT attempt to deceive investors with a new ID, investors are strongly advised to check broker' s compliance before investment to ensure the safety of your assets.

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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
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