WikiFX Scam Alert: FCA Warns Against Victory FX!!!

Investors who are still trading forex at Victory FX had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

To start with the most essential, you may check the recent warning issued on October 25thby the Financial Conduct Authority (FCA) in the UK against Victory FX (victoryfx.uk) on the screenshot below (source: https://www.fca.org.uk/news/warnings/victory-fx):

“This firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong”, the FCA warning reads.

WikiFX also paid a visit to the broker's official website to learn more. Victory FX claims to be based in the UK, as you can see from the screenshot below:

Every legitimate UK broker must be authorized to operate by the FCA – the UKs financial regulator which also happens to be one of the strictest and most reputable in the world. Not only is Victory FX not regulated by the FCA but the regulatory body has recently issued a warning stating that Victory FX is not under the supervision of the FCA and is therefore not authorized to operate in the country.

Victory FX claims to be “a regulated forex and CFD provider”, but as WikiFX already noted and as is clearly evident by the recent FCA warning, this is simply not true. Take a look as well:

Victory FX also claims to offer the industry standard MetaTrader5, but the platform appears to be registered for a third party company called Five Star Capital Ltd., about which we know absolutely nothing. And that does not help with the websites credibility either and certainly does not change the fact that it is blacklisted as a scam by the FCA in the UK. There seems to be no trading software at all!

Now let's search “Victory FX” on WikiFX APP to find out more about this broker. 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, Victory FX currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In conclusion, trusting a broker like Victory FX is simply not worth it – you will certainly end up robbed. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.

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.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!