HXGJ rejected investor's withdrawal for financial clearance

HXGJ announced the withdrawal is temporarily suspended on their platform.

Investors kept on waiting and still cannot withdraw money for three months.

WikiFX rating – 0.88 only.

Investor should keep away from this platform.

WikiFX received investor's real-named complaint against HXGJ as they reject client's money withdrawal application for the reason of year-end financial clearance.

The platform customer service kept on postponing the application process for three months and clients cannot withdraw the money till now.

Investor lodged a real-name complaint against HXGJ

Photo of the investor's ID card

The investor reported HXGJ by presenting his ID card.

Mr. Jiang's terrible experience

Mr. Jiang's shared his terrible experience with WikiFX

Mr. Jiang's said he was introduced to open account and deposit money on HXGJ in August last year.

He submitted the withdrawal application in October last year, but it was still in “under approval” status. After talking with customer service, he was being convinced to make several deposits by “we-transfer”.

He submitted another withdrawal application by January this year; and, he was informed the withdrawal will be temporarily suspended due to year-end financial clearance.

The withdrawal process hasn't been resumed as per information by HXGJ one week after. He contacted the customer service but still got the same reply. He kept on waiting but no choice.

WikiFXs investigations

1. Mr. Jiang deposited money on HXGJ many times

Mr. Jiang's partial deposit record

Mr. Jiang has deposited money to HXGJ several times by “we-transfer” since December 2018.

2. Jiang submitted withdrawal application

Mr. Jiangs withdrawal record

Mr. Jiang kept on submitting withdrawal application from October last year, however, they were “under approval”. Even worse, he was convinced to keep on depositing money several times, making his loss more.

3.Mr. Jiang received the notifications from HXGJ

Screenshot of notification of HXGJ

After submitting the withdrawal application, Mr. Jiang got the urgent announcement from HXGJ, stating that all withdrawal and deposit service will be temporarily suspended for one week due to year-end financial clearance and data integration for the preparation of building strategic alliance with other companies soon.

4.Mr. Jiang contacted the platform customer service

Screenshot of the conversation between Mr. Jiang and platform customer service

Mr. Jiang cannot receive the money one week after and he called the customer service serval times but they still kept on using different excuses to delay the process, making him cannot withdraw money till now.

WikiFX verification of HXGJ

>>>>Regulatory information of HXGJ

Screenshot of Regulatory Information from WikiFX

HXGJ is suspected of holding cloned FCA(UK) license and the platform information seems to be copied from other regulated brokers'platforms. HXGJ is not a regulated broker and it may have considerable risk.

>>>>MT4/5 identification

Screenshot of HXGJ interface from WikiFX

WikiFX verified that HXGJ uses non-MT4/5 trading software and will have higher risk.

>>>>Network diagram

Screenshot of network diagram from WikiFX

Per our investigation, HXGJ has relation with a Forex broker named MFM.

Warning from WikiFX

Screenshot of HXGJ interface from WikiFX

WikiFX verified that HXGJ is suspected as cloned license Forex broker and copies the information from other regulated platforms.

They have no valid regulatory status and uses non-MT4/5 trading software and may have great default risk. And, they reject to fulfill withdrawal request which is illegal.

WikiFX reminds investors to keep themselves away this broker to avoid any risk.

Conclusion

Investors are strongly suggested to carefully check WikiFX regularly and should be aware of those suspected brokers with low ratings.