Most Complained Brokers in Malaysia in February 2024

In this article, WikiFX will reveal the top 4 brokers that have received the most complaints in Malaysia within February 2024! Beware users!

Traders Trust WikiFX profile: https://www.wikifx.com/en/dealer/1861526644.html

TTCM Traders Trust Capital Markets Limited, commonly referred to as Traders Trust, was founded in 2009 by a group of financial professionals. The company operates as a Cyprus Investment Firm ('CIF') and is regulated by the Cyprus Securities and Exchange Commission ('CySEC') under license number 107/09, following the guidelines of the Markets in Financial Instruments Directive II ('MiFID II') of the European Union. Traders Trust focuses on trading currency pairs, global indices, precious metals, and oil.

Currently, Traders Trust is not available in certain countries, including Brazil, the Republic of Korea, Iran, Iraq, the Syrian Arab Republic, Japan, and the United States.

Below are the recent complaints WikiFX received regarding issues at Traders Trust:

Baxia Markets WikiFX profile: https://www.wikifx.com/en/dealer/3845679117.html

Established in 2020, Baxia Markets operates as an STP-broker, facilitating access to financial markets. The company provides trading options in currency pairs, indices, metals, and energies. Situated in Seychelles, Baxia Markets extends a range of financial assets, including currency pairs and CFDs on indices, metals, and energies. Regulatory oversight for the broker's activities is conducted by the Seychelles Financial Services Authority (FSA) and the Securities Commission of the Bahamas (SCB). It is essential to acknowledge that both of these regulatory bodies operate offshore, potentially resulting in a more permissive regulatory environment.

Below are the recent complaints WikiFX received regarding the issue at Baxia Markets:

Aximtrade WikiFX profile: https://www.wikifx.com/en/dealer/7341492416.html

International online broker Aximtrade is a devoted Alfa Romeo F1 team sponsor. WikiFX's database shows that they have only been in business for two to five years, during which time they have accumulated more than 100,000 active customers. They allow their clients to trade forex, metals, energies, stocks, indices, and commodities using CFDs, along with perks like flexible leverage and a trading instrument selection that exceeds 100. Although Aximtrade claims to be multi-regulated, WikiFX discovered that out of 3 licenses, only one is valid, which makes its credibility questionable.

Below are the recent complaints WikiFX received regarding withdrawal issues at Aximtrade:

WikiFX emphasizes the importance of having the WikiFX mobile app installed on your device, which is accessible for free on both Google Play and the App Store.

This app will keep you informed about the latest updates concerning brokers and market trends. Whether you choose to use the app or visit our website at www.wikifx.com, you can receive timely alerts regarding brokers worldwide, not limited to Malaysia. Additionally, we urge all our valued users to exercise caution when dealing with online brokers. Always ensure to click on the link provided in the broker's respective WikiFX profiles to confirm that you are accessing the official and accurate website. Unfortunately, there have been instances of scammers attempting to deceive users by replicating broker websites. Safeguard yourself from potential fraud by relying on the verified links provided by WikiFX.