India's most complaint brokers in October 2023

Wikifx is your trusted forex partner who alerts you on a regular basis, warns you about fraudulent brokers, shares the latest forex news, and provides you with broker Reviews. We value our bond with you. That‘s why we make you aware time to time. As today, in this article, we will tell you about the most Complaint brokers in India for October 2023 so that you don’t fall for them and do not lose your hard-earned money.

INDIA'S MOST COMPLAINT BROKERS IN OCTOBER 2023.

1.Weltrade- Established in 2006, WELTRADE, a trading name of Systemgates Capital Ltd, is allegedly an online CFDs broker incorporated in Saint Vincent and the Grenadines and regulated in Belarus that provides its clients with the worlds most widely-used MetaTrader4 and MetaTrader5 trading platforms, flexible leverage up to 1:1000, floating spreads on various tradable assets, a choice of four different live account types, as well as auto-trading service and 24/7 customer support service. As for regulation, WELTRADE holds an exceeded Financial Sector Conduct Authority (FSCA) license.

2. Classic Capital- Classic capitals is registered in USA( NY ) under business reg. Number 2016-00042 . Classic capitals activity is supervised by the authorities of ( NY ) Classic capitals market is authorised and regulated by L- Max group with licence number 623/28.For more than 7 years

3. USDC Investment is a relatively new brokerage firm based in the United States. With its proprietary trading platform, traders have access to a wide range of tradable assets, including forex currency pairs, indices, commodities, stocks, and cryptocurrencies. Although the company operates without specific regulations. Its regulatory status is currently unverified, and there is no valid regulation in place for this broker. It is important to note that the broker's regulatory status is abnormal, and they are classified as unauthorized by the United States NFA (National Futures Association) with license number 0555620.

Review

When we searched these brokers on the Wikifx. We found that all of them have very low scores. 1.06？10 for Classic Capitals , USDC Investment has 1.14/10, and WELTRADE also has 4.7/10, which itself is a warning sign not to choose these brokers. Also, Wikifx issued a Warning there to warn customers by saying PLEASE BE AWARE OF THE RISK.

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