Abstract: Recently one forex broker called VICTORIA CAPITAL caught our attention because traders told WikiFX that this broker does not allow them to withdraw and even put forward unreasonable demands. Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. In this article, we will expose this case to you in detail based on the evidence we gathered.
About WikiFX
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 40,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
About VICTORIA CAPITAL
VICTORIA CAPITAL is an online forex broker registered in Australia. WikiFX has received a lot of complaints against this broker recently. In addition, we find this broker is not regulated and WikiFX has given this broker a low rating of 1.39/10. Please note that investing in an unregulated broker with a low WikiFX score is pretty dangerous for your fund safety.
According to our investigation, this brokers original name is Rui win, it changed Rui win to VICTORIA CAPITAL not long ago. We do not the reason why this broker changed its name, but we know that many scam brokers like to change their name in order to cover their disreputable behavior.
The victim requires the withdrawal, however, this broker asks extra tax fee for the withdrawal. he invested a lot of money with them, but the victim haven't yet received any returns. The victim can't get to the profits in his account unless he pays a commission and tax fee. “ I recently almost spent all of my cash with VICTORIA CAPITAL, which absolutely aided the recovery process. I never get a response they automatically stopped communicating with me when I request for withdrawal.” Even worse, this broker did not give any response to this trader.
Conclusion
We believe that VICTORIA CAPITAL is getting involved in a scam. This broker eventually took the victims money away fraudulently without giving any response to the victim. The reason why WikiFX exposed this case to the public is to remind all traders of the potential risks. All traders should be vigilant when investing in a broker.
WikiFX is actively reaching out to the victim and other traders hoping to find more evidence to help resolve the problem. Please stay tuned for more information.
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!
Forex broker scams continue to evolve, employing new tactics to appear credible and mislead unsuspecting traders. Identifying these fraudulent schemes requires vigilance and strategies beyond the usual advice. Here are five effective methods to help traders assess the legitimacy of a forex broker and avoid potential pitfalls.
Doo Financial, a subsidiary of Singapore-based Doo Group, has expanded its regulatory footprint by securing new offshore licenses from the British Virgin Islands Financial Services Commission (BVI FSC) and the Cayman Islands Monetary Authority (CIMA).
A new programme has been launched by CFI to address the growing need for transparency and awareness in online trading. Named “Trading Transparency+: Empowering Awareness and Clarity in Trading,” the initiative seeks to combat misinformation and equip individuals with resources to evaluate whether trading aligns with their financial goals and circumstances.
The Royal Malaysia Police (PDRM) has received 26 reports concerning the Nicshare and CommonApps investment schemes, both linked to a major fraudulent syndicate led by a Malaysian citizen. The syndicate’s activities came to light following the arrest of its leader by Thai authorities on 16 December.