WikiFX Report: An Investor Has Scammed By A Claimed Legit Broker

Forex trading can be a source of income. Some people trade forex as their primary source of income, while others do it as a side business. Because the forex market has boomed, many people exchange conversations while doing online trading without realizing that the risk of being scammed is extremely high. People made the online trading business riskier than before by offering services to people to invest and trade on their behalf. But in the end, it's just a scam. When they do this, they usually claim that they are working with a legitimate broker and can show you proof of profits from their investors.

WikiFX got a report from an investor saying that he had been scammed by a fake broker claiming a worker from XM.

As we all know, XM is one of the most popular online brokers in the online trading market that offers a variety of instruments to trade.

People are still blinded by these tactics: somebody will suddenly contact you, offer good trading services, and promise a good return once they invest.

The Story

An investor was able to invest money in the person contacted and promised a good result from the money he invested. As time went on and they got to know each other, he told her that the money he had invested had earned over 90%. However, the sad part of the story is that when he requested to withdraw some of the profit, he was told to pay a broker's fee of 10% of the total profit, and it must be deposited before he can get his earned money, knowing that they can deduct the said fee from the money and the earnings they've got.

Link: https://www.wikifx.com/en/exposure/detail/202301093862187124.html

Clearly, the statement above from the investor was indeed a scam tactic.

It is a very unexplainable feeling that your hard-earned money will suddenly go to waste because of a very encouraging investment offer.

WikiFX is working side by side with 30 financial regulators across the globe, monitoring scam brokers and exposing them for their illegal activities.

WikiFX on the other hand always lists brokers to help people identify the status of their chosen brokers. All broker information has been stated for the people to give a hassle-free investigation.

The App has the capability to index all the fake brokers from the name of the broker you are searching for.

Otherwise, if you don't have WikiFX App on your mobile phone, definitely you will get scammed easily.

Download and install the WikiFX App from the download link below to stay updated on the latest news, even on the go. You can also download the App from the App Store or Google Play Store.

Download link: https://www.wikifx.com/en/download.html