What exactly is WikiFX？
WikiFX is a global search engine for business and financial data. In this function, it is primarily responsible for providing basic information and regulatory licensing searches, the credit assessment, platform identification, and other services to the included foreign currency trading businesses.
A big data solution built by WikiFX combines public data from government agencies with advanced sniffer systems and scientific computer algorithms to gather, filter, aggregate, model, and produce data. A variety of security solutions may then be provided to individual users, corporations, and government agencies, depending on the amount of oversight or risk connected with the organizations
About Reported Cases on WikiFX
A lot of unpleasant news was posted to WikiFX about brokers that have problems handling their investors. Aside from providing customers with a tool to choose the best investment route, why is WikiFX so widely recognized for this？ WikiFX is a reliable media platform for resolving reported claims against brokers, whatever they may be. WikiFX has over 36,000 brokers listed, both licensed and unregistered, and has worked with over 30 financial authorities throughout the globe. Because of the possibility for a broker to earn a big profit from traders by participating in forex trading, several scam activities are occurring globally online. Scam brokers are figuring out how to entice individuals with their marketing plans to persuade them to invest and profit.
An example of a case reported on WikiFX
The trader continued seeking withdrawals but was continually rejected, and customer service encouraged him to deposit more so he could withdraw. This kind of term is a ruse. They do their best, such as providing traders with strong trading values so that they may invest. Once they start investing and trading, an unpleasant incident will occur. The broker's name is Incepfx. (See evidence below).
Another Incident “Unable to Withdrawal” with the same broker
Based on the analysis, this broker gets a bad rating on WikiFX. IncepFX is not a registered broker and seems to be low-key. It lacks a license, its website is down, and there is no information or news available online or on social media. This is an example of a ghost broker. The ghost broker has no offices, and most traders learn about them via recommendations from acquaintances who are also traders. A ghost broker can't help you with long-term business. This broker is a swindler.
What should you do if you are a victim of a scam？
WikiFX's ability to reveal your broker's misbehavior is one of its strongest features. Aside from exposing your broker publicly, WikiFX may assist you in resolving the situation with your broker. Many instances have been handled thanks to the intervention of the WikiFX Right Protection Center. Once you reach out to the WikiFX Right Protection Center. They will respond swiftly, and your case will be presented to authorities if required to begin the basic due process.
Here's how to expose your broker and seek out. WikiFX Right Protection Center
Step 1: Launch the WikiFX app on your browser or smartphone.
Step 2: You will be able to see the cases that have been filed. The exposure button may be found on the right side of the screen.
Step 3: After clicking, you will be routed to the form. The first step is to look for the broker who is engaged. Then, pick the kind of problem you faced. Write the case title, then the account of what happened then release.
This case is currently in the process of being resolved. The team is now beginning to request documentation so that the broker can be tracked on where they operate, which might result in the company being permanently closed if they cannot offer any permits.
WikiFX constantly develops articles to advise all traders, and those who want to start forex trading should always have WikiFX app on their phones so they can get the latest news and brokers' exposure on the move. The WikiFX app is available for free download on the App Store and Google Play.
As we all know, and for those who don't, forex trading is a high-risk activity that does not provide a fast method to make money. It is preferable to work with a reputable broker who provides subpar trading conditions than with a broker that provides excellent trading conditions but lacks a license. Just keep in mind that instead of looking for a broker with a strong trading value where you can earn more, utilize the WikiFX app first and research the broker you want to invest in.