TudoFX (tudofx.com) presents itself as an established broker serving millions of clients in dozens of countries around the world. But this website is actually a prime example of why we shouldn't blindly believe claims on the internet. This is a completely anonymous website that ranks among the vast number of fake brokers aiming to cheat inexperienced people out of their money.
First let's search TudoFX on WikiFX APP to take a look at the details page (https://www.wikifx.com/en/dealer/3593489482.html). WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
As you can see, based on information given on WikiFX, TudoFX currently has no valid regulatory license, which regrettably means it is not an established broker. And the WikiFX score is rather low – 1.12/10.
WikiFX also found out that the Financial Conduct Authority (FCA) issued a warning against the broker several months ago:
What's more, now the official website of TudoFX is no longer available for access, which is sign that the broker might have run away with investors' money!
Based on information gathered by WikiFX previously, TudoFX website appears to be completely anonymous, as in the entire presentation there is no physical address or corporate background whatsoever – just some obscure phone number and an e-mail.
Besides, TudoFX says to be offering an incredibly advanced trading platform and they also mention the industry standard MetaTrader4. Unfortunately WikiFX was not able to access neither of the platforms, and because the website is not to be trusted anyway, WikiFX strongly doubts that TudoFX is offering a trading platform at all.
In addition, the TudoFX website describes five types of trading accounts – Basic, Silver, Gold, Platinum and VIP, with incredibly high minimum deposit amount, which is a sign that the broker is attempting to scam investors!
TudoFX specifies a leverage of 1:50 to 1:100 for forex. High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The European Securities and Markets Authority (ESMA) and accordingly all EU regulators limit leverage to 1:30 for major currency pairs and 1:20 for non-major pairs. The same rules are followed by FCA and ASIC. In the USA the maximum leverage is slightly higher, 1:50.
In a nutshell, it's not wise to invest in TudoFX. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.
You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.
In addition, scam victims are advised to seek help directly from the local police or a lawyer.
Don't trust individuals or organisations who claim to be able to get your money back – they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a “recovery scam”.
