The Most Complained Brokers in the United States in November!

In this article, WikiFX will reveal nine forex brokers that have received the most complaints in the United States in November 2023.

Several brokers faced complaints in November 2023, raising concerns about their practices and reliability. This article focuses on the most complained brokers during that month, as reported by WikiFX.

YSHX

WikiFX Rating: 1.07/10

Number of Complaints in November: 1

Yun Shang Hui Xin Limited (YSHX) is an international investment service provider dedicated to serving both institutional and retail customers worldwide. With its focus on risk control and a pass-on scheme, Yun Shang Hui Xin aims to meet the needs of retail customers and international financial institutions.

However, it is important to note that Yun Shang Hui Xin Limited, operating under the name YSHX, currently lacks valid regulation. The regulatory status of NFA is reported as abnormal, with an official regulatory status marked as Unauthorized.

ElastosTrade

WikiFX Rating: 1.23/10

Number of Complaints in November: 1

According to its website, ElastosTrade is an industry-leading decentralized asset management company with a unique investment structure since 2019. ElastosTradet focuses on AGRO IMPORT/EXPORT, NFTs, and FOREX. This broker is an unregulated broker, which is not safe for you to invest with.

SpreadEX

WikiFX Rating: 1.07/10

Number of Complaints in November: 1

SpreadEX is a newly-established broker and it does not hold a regulatory license. It would help if you avoided this broker as much as you can. Even worse, we already received a complaint against this broker. WikiFX warns you of the potential risk.

Turbine Trade LTD

WikiFX Rating: 1.02/10

Number of Complaints in November: 1

This broker is also newly founded. It doesnt hold a regulatory license. Moreover, we cannot open its website, which shows us a sign of danger.

KOT4X

WikiFX Rating: 1.54/10

Number of Complaints in November: 4

KOT4X, a trading name of KOT4X Ltd., is a crypto and forex broker registered in Saint Vincent and the Grenadines that aims to provide investors with 250+ instruments with flexible leverage up to 1:500 and floating spreads from 0.4 pips on the MT4 trading platforms via four different live account types, as well as 24/7 customer support service.

Olymphubs

WikiFX Rating: 1.30/10

Number of Complaints in November: 4

Olymphubs is a solution for creating an investment management platform. It is suited for hedge or mutual fund managers and also Forex, stocks, bonds, and cryptocurrency traders who are looking at running a pool trading system. Online trader simplifies the investment, monitoring, and management process. This firm was registered in the United Kingdom. As far as we know, this broker does not hold a legitimate license. Investing in an unregulated broker is extremely risky as no one can hold them accountable once your money is gone.

FxBitCapital

WikiFX Rating: 1.45/10

Number of Complaints in November: 4

FxBitCapital is an unregulated forex broker, providing trading services and facilities to both retail and institutional clients in more than 180 countries. The broker offers Contracts for Difference (CFDs) on 6 asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals and Spot Energies through the industry-standard MT4 platform.

WEEX

WikiFX Rating: 1.23/10

Number of Complaints in November: 8

WEEX, an online trading service based in China, purports to offer financial market trading to interested traders. However, it's crucial to note that the accessibility of the WEEX website is currently inaccessible, rendering it difficult to verify the broker's regulatory status or authenticity. Furthermore, the broker is not under any valid regulation from any authoritative bodies currently.

Omega Pro

WikiFX Rating: 1.33/10

Number of Complaints in November: 19

Omega Pro is a UK-based forex brokerage firm that has been operating for two years. They offer trading in Forex, CFDs, and cryptocurrencies, and claim to provide their clients with access to a range of trading platforms and tools. Omega Pro offers trading in Forex, CFDs, and cryptocurrencies, including popular currency pairs like EUR/USD, GBP/USD, and USD/JPY, major cryptocurrencies like Bitcoin and Ethereum, and CFDs on indices, commodities, and shares.