March Recap: Most Complained Brokers in Malaysia

WikiFX | 2024-04-02 16:43

Abstract：In this article, WikiFX will reveal the top 3 brokers that have received the most complaints in Malaysia within March 2024! Beware users!

MogaFX WikiFX profile: https://www.wikifx.com/en/dealer/2201176029.html

MogaFX, founded in 2018, maintains its headquarters in Australia and, Saint Vincent and the Grenadines. The trading instruments offered by MogaFX include approximately 60 currency pairs, global indices, and commodities. In comparison to its peers, MogaFX's asset classes are relatively limited. MogaFX operates under two separate entities, each subject to specific regulatory oversight:

Moga International Group Pty Ltd operates under the regulation of the Australian Securities and Investments Commission (ASIC). Its corresponding license number is 501156.
Moga International Group Limited operates under the regulation of New Zealand's Financial Service Providers Register. Its corresponding license number is 1002414. However, WikiFX discovered that this said license had been revoked.

Below are the recent complaints WikiFX received regarding issues at MogaFX:

Wisemarket WikiFX profile: https://www.wikifx.com/en/dealer/2699104886.html

Established in 2022, Wisemarket is a forex and CFD broker registered in St. Vincent and the Grenadines, a jurisdiction known for its lenient regulations on forex trading. However, Wisemarket operates without a valid license, making it a cause for concern.

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

Bitcore Pro WikiFX profile: https://www.wikifx.com/en/dealer/7585840022.html

Bitcore Pro, formerly known as Tradersplate, underwent a name change to its current designation, Bitcore Pro.

Bitcore Pro offers trading services for multiple instruments, including currency pairs, stocks, and cryptocurrencies. Despite the company's claims of being well-established and a member of the Financial Commission, WikiFX discovered that Bitcore Pro is operating without a valid license.

Furthermore, Bitcore Pro has amassed numerous complaints from disgruntled clients. Below are the recent complaints received by WikiFX regarding issues at Bitcore Pro:

WikiFX highlights the significance of installing the WikiFX mobile application on your device, which is available free of charge on both Google Play and the App Store. This app serves as a crucial tool for staying informed about the latest developments concerning brokers and market trends. Whether you opt to utilize the app or browse our website at www.wikifx.com, you can rely on receiving timely notifications regarding brokers globally, extending beyond Malaysia.

Furthermore, we wish to stress the importance to all our esteemed users of exercising caution when dealing with online brokers. Always ensure that you click on the link provided in the respective WikiFX profiles of brokers to confirm that you are accessing the official and accurate website. Regrettably, there have been instances of scammers attempting to deceive users by replicating broker websites. Safeguard yourself from potential fraud by relying on the authenticated links provided by WikiFX.

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Related broker

Scam Brokers

MOGAFX

Company name：Moga International Group LLC

Score

1.91

Website：https://www.mogaforex.com/?culture=en-US

Scam Brokers | 5-10 years | Suspicious Regulatory License | cTrader

Score

1.91

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