Was FMO’s Staff Arrested in China for Withdrawal Unavailable?

Investor didn't receive the money two months after submitting withdrawal.

And the customer service representative of FMO said that the staff was arrested due to the broker's serious illegal practices.

Thus, investors should be alert to the broker.

These days one of investors reported FMO to “Exposure ” of WikiFX for the broker's withdrawal unavailable.

At the same time, the customer service representative said that the relevant staff of FMO was arrested by the police.

Screenshot of “Exposure”of WikiFX

Mr. Huang's terrible experience

The investor shared his terrible experience with WikiFX

Mr. Huang registered an account and deposited on FMO in May this year after getting to know the broker online.

And everything was going well after depositing. In October, he intended to withdraw money. But it wasn't deducted from his account after he submitted withdrawal.

So he contacted the customer service staff, and got that the company's staff was arrested.

The specifics weren't confirmed including the time of withdrawal available.

WikiFXs identification and evidence

1. Mr.Huang deposited on FMO

Transfer record of Mr. Huang's deposit

Mr. Huang deposited and started to trade through FMO in May this year.

2. Mr.Huang submitted withdrawal

Screenshot of Mr. Huang's withdrawal record

On October 22th, Mr. Huang submitted withdrawal, and received the confirmation email from the broker soon.

3. Mr.Huang contacted the customer service staff about withdrawal

Screenshot of the conversation between Mr. Huang and customer service staff

After submitting withdrawal, Mr. Huang didn't receive the money.

So he contacted the broker many times, and finally got that the company's staff had been arrested and the specifics weren't confirmed.

4. The money in Mr. Huang's account hasnt been deducted

Screenshot of Mr. Huang's account balance

Now, there is some money in Mr. Huang‘s account, which can’t be withdrawn.

The investor didnt receive his money two months after submitting withdrawal. Now it is not sure that whether the staff of FMO was arrested. Accordingly, investors should be careful with the broker.

WikiFX identification on FMO

>>>>The regulatory information of FMO

Screenshot of regulatory information from WikiFX

According to the inquiry, FMO‘s FSPR license is limited to financial service. Without the qualification of forex brokerage, the broker’s business in China is illegal.

Warning!

Screenshot of FMO interface from WikiFX

Through the identification, the FSPR license held by FMO is limited to general financial service. Without the qualification of forex brokerage, the broker's business in China is illegal.

Meanwhile, investors can't withdraw money, and it is told by the insiders that the company's staff was arrested.

Thus, WikiFX reminds that investors should keep themselves away from the broker to steer clear of risks and those investors who can't withdraw money should maintain their rights as soon as possible.

Conclusion

With WikiFX rating being 3.37, FMO's business in China is illegal.

And it is suggested that do not take online advertising for granted, and that investors should be alert to the brokers with low rating and know more about them before investing so as to avoid property losses.