FCA Warned EnclaveFX That They Have Been Receiving Withdrawal Complaints From Their Traders

When evaluating a forex broker, one of the most important elements to consider is regulation. Regulated brokers are mandated by authorities to follow tight laws and regulations, which ensure the security of customer funds.

Understanding that forex trading is a high-risk activity that requires a substantial quantity of cash in order to make a decent profit. There are still traders that try their luck and invest with a certain broker without knowing about the regulatory status, which is the most significant condition for becoming a registered forex broker. A Hong Kong-based company created the WikiFX app, a forex trading search engine, to give accurate regulatory information of brokers. It lists over 38,000+ brokers, both regulated and unregulated. And I collaborate with 30 financial regulators.

The data in the WikiFX database, on the other hand, originates from legitimate regulatory bodies like the FCA, ASIC, and others. Fairness, impartiality, and facts are also emphasized in the released information. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up-to-date.

EnclaveFX is a self-regulated broker with no oversight from any government. Furthermore, it had an FCA warning record.

A Brief Overview

EnclaveFX (https://enclavefx.com/) is a self-proclaimed world-class forex broker situated in London, England. The broker provides the most popular and tried-and-true trading tools for traders to invest in Forex, CFDs, commodities, and cryptocurrencies. Other features include four account kinds, several deposit alternatives, and an MT5 trading platform.

Is EnclaveFX Regulated？

EnclaveFx is a self-regulated forex broker registered in the United Kingdom under the registration number 13596354. Despite having its headquarters in London, it is not registered with or subject to the FCA, the regulatory body that oversees the financial services and products of the majority of FX businesses in the UK.

Visit the EnclaveFX dealer page on WikiFX to know more: https://www.wikifx.com/en/dealer/3301616985.html

In other words, EnclaveFx is an illegal company that operates from the United Kingdom without authorization.

The FCA's warning record

The FCA issued a warning to EnclaveFX on February 3, 2022, for offering financial services or products in the UK without permission.

Client feedback and complaints

According to our study from multiple independent reviewer channels, the firm gets a large number of complaints. Despite claiming to be a team of highly skilled and experienced personnel committed to the area of brokerage services, the broker has been accused of a variety of concerns, including misappropriation of money, withdrawal troubles, and customer assistance. Let's look at some screenshots below.

How does WikiFX help traders who have been scammed by unregulated broker like EnclaveFX？

WikiFX's team is working hard to provide prompt assistance in retrieving funds from fraudulent forex brokers with the help of Financial Authorities. Furthermore, the program has the potential to reveal a particular broker's illegal activities. Simply go to the official WikiFX website and choose Exposure from the menu bar. You may also contact WikiFX's customer service.

Final words,

Based on the data presented above, we can conclude that EnclaveFX is a scam. It comprises engaging in unethical behavior in order to steal directly from its clients by misappropriating money or assets entrusted to it.

Download the WikiFX app from the App Store or Google Play Store to receive more fraud news.