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    Wait! 1 tip to stay away fraud before trading Forex

    Abstract:If your broker has no business outside Nigeria, we recommend staying away from it.

      As we know, the forex market is quite volatile and extremely unstable. So whether you are a newcomer or a person who has much experienced in the forex industry, when choosing a trading platform, the first thing is to check whether the broker is regulated by a world-renowned regulator or not. If your broker has no business outside Nigeria, we recommend staying away from it.No matter how much money you invest, please invest in a safe environment, otherwise, your money may disappear in an instant.

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      As we mentioned in the previous article, there is no policy of regulatory mechanism for forex trading in Nigeria, but it is not illegal. It means before these rules are in place, if your broker has an accident, such as death, bankruptcy or refusing to return your money, there is no law to help you with the lawsuit.If you still insist ontrading forex, please choose a prestigious brokerage firm that has operations around the world and is regulated by well-known foreign financial institutions. In particular, be careful with brokers who promise to bring you huge profits. Be sure to check the broker's reputation before putting your money in. It makes sense to be extra cautious only when you put your money in stranger hands.

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      Real case happened in Nigeria. Two brothers, Bowofade Adewuyi and Adedotun, they ran a company called BTD Multi-Global Company, which was founded in 2015. According to Olubunmi Adeleke, one of the victims, the plan seems to revolve partly around binary options, a product that is notorious among legitimate brokers and traders. According to Nigerian officials, the people behind the plan say their company is properly registered with regulators-But it is not true.

      The company claims that it has registered the company under the regulators policy and has bought an insurance policy that will provide 100 percent protection for the investment capital of first-time investors in the event of any losses. It also provides 50% protection for the investment balance of existing investors (capital plus accrued interest).

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      Risk statement: the forexrisk of margin trading is high and may not be suitable for all investors. You may lose more money than you saved in the first place.A high leverage not onlyis bad for you, but also makes you lose a lot of money.

      The following is the process of how to use app:

      1: Download WikiFX

      You can download the app on Google Play or Apple Store for free.

      2: Register to be a WikiFX member

      Enter your phone number and verification code.

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      3: Select Language and your area

      4:Find “Exposure” section on Homepage

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      5:Edit post and release

      Click the edit icon and choose either type of reason you wanna expose. Then, select the broker you wanna expose, edit your scammed experience and release it.

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      Worrying about meeting scam platforms and there is no place to complain?

      Please download WikiFX APP from below links or scam code :

      iosAppStore: http://bit.ly/WikiFXappios

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      GooglePlay:http://bit.ly/WikiFXappAndroid

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      If you have any questions, please feel free to contact us at wikifx@wikifx.com

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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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    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.

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