WikiFX Released the Most-Complained Forex Brokers list in March

The first quarter of 2019 witnesses that investors are especially eager to enter the thriving Forex market.

Here WikiFX presents the top 10 complained brokers in March to offer investors some valuable insight into Forex investment.

The most complained issues are still common such as withdrawal failure and heavy loss due to deliberate misinformation from analyst. WikiFX suggests investors to carefully check qualifications and licenses of brokers before making any decisions. Do not blindly trust others' recommendation.

What' s “Exposure” of WikiFX？

It's a bulletin board of complaints. Investors are welcomed to lodge a complaint if they run into any problems with the platform. Once it has been settled, your complaint can be removed at anytime.

Major issues that investors complained about:

1. Long-overdue withdrawal and refund;

2. Heavy loss caused by deliberate misinformation from analyst;

3. Serious slippage;

4. Deleting investors' account and other illegal practices;

5. Platform escaping.

Below is the list of top10 most-complained brokers this month:

Karen: WikiFX rating 1.65, suspected license-cloned;

Myfx Markets: WikiFX rating 5.54, in regulation;

Capstone: WikiFX rating 3.29, overrun;

HSBC: WikiFX rating 8.80, in regulation;

HLJY: WikiFX rating 5.26, in regulation;

IQ Option: WikiFX rating 5.01, in regulation;

SGFX: WikiFX rating 2.26, no license;

HKJOJO: WikiFX rating 6.58, in regulation;

RCM: WikiFX rating 3.55, overrun;

MMIG: WikiFX rating 2.77, overrun.

With low rating 1.65, Karen tops our most-complained broker list. And it uses white-label MT4 trading software, suspected of copying other broker' s license. Moreover, Karen has been heavily complained for withdrawal failure, loss due to analysts' misinformation and suspected illegal practices like deleting investors' account. Investors should definitely be aware of it.

Screenshot of Karen's regulatory information from WikiFX App

Per broker' s regulatory information from WikiFX App, Capstone, RCM and MMIG operate in overrun business, while SGFX has no license. Beware of them.

It is worth noting that Capstone has been listed in the chart for 2 months in a row, being third place last month and top this month.

Further investigation on WikiFX App shows Capstone is rated at 3.29 and constantly complained by investors for withdrawal issues.

Screenshot of Capstone's regulatory information from WikiFX App

In addition, RCM, listed on the chart consecutively, has been reported by many investors for withdrawal failure.

Screenshot of RCM's regulatory information from WikiFX App

WikiFX reminds investors that besides checking the qualifications and licenses of brokers, it' s also wise to take investor' s complaints into account in order to avoid potential risk and make prudent and rational investment choice.