The HotForex Seduces the Victim with Huge Profit

We received a complaint from Mrs. Agatha, who was struggling with the withdrawal procedure on the trading platform HotForex and Wealth creation FX company. A manager from the Wealth creation FX company and HotForex asked for an account releasing fee during the process of the withdrawal. As what the victim said, she realized that it didnt add up when the manager asked her to pay ZAR 4,900.

The victim was introduced to the HotForex by Kwandile from Wealth creation FX company. He offered the victim series of high-return investment projects, such as investing ZAR 1,000 in exchange for ZAR 5,000. This order was supposed to be closed when the target was met. Then the victim would take both the interest and capital of ZAR 3,700 and ZAR 1,000 and leave ZAR 300 in the account. The account manager claimed that the investment charged the victim nothing for the first time but 10% of the total profit as his commission. He also promised that the withdrawal and money delivery were warranted within 8 hours without any delay.

The victim opened an account on HotForex on the 23rd of October in 2020 and made the first deposit of ZAR 800. Two days later, the victim received the message from Kwandile. He said that the current account balance was ZAR 17,100. Kwandile was the person who did the trading on behalf of the victim and suggested that the victim should pay ZAR 1,350 to release such a huge profit. Then the victim made the transaction as suggested on the 25th of October in 2020. However, the victim received an email from HotForexZAR. She was required to pay ZAR 4,800 to support the withdrawal procedure, and the transaction fee would not be deducted from the profit.

This is a sad story for Agatha but a complicated case for WikiFX because there are some suspicious details, such as the relationship between Kwandile and the HotForex, remain unknown. Moreover, the source of the email needs to be verified. We will carry out further investigation on this case until we find the truth. We advise Forex traders to check the background of brokers before the deposit or to find the rating of brokers on the WikiFX.

Declaration: The evidences in WikiFX exposure articles are verified via the following processes:

1: Evidence Collection: chatting records, trading records, banking transaction records, and video recordings from the victim.

2: These evidences will be evaluated and verified by experts who have been working in the Forex industry for many years.

3: The editor will review it again before the article is published.

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If you have ever been defrauded by illegal broker, you can contact

WikiFX. WikiFX will assist you in your exposure. You need to hold enough

evidences to prove the broker is illegal.

Evidence requirement: (Chatting history records, Trading history

records, Banking Transaction records and video recordings from victim).

In order to help you better. There are two ways to upload evidencesfor exposure.

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Log in the App, choose Exposure on home page click on blue light bulb-Expose,

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South Africa Area：https://www.facebook.com/WikiFX.ZA

Declaration:

The evidences in WikiFX exposure articles are verified via the following processes:

1: Evidence Collection: (Chatting history records, Trading history

records, Banking Transaction records and video recordings from victim).

2: These evidences will be evaluated and verified by experts who have been work in forex industry for many years.

3: The editor will review it again before the article is published