Notorious OLYMPTRADE Has Been Complained by 16 Victims for Scam

Last week, WikiFX published an exposure article-OLYPMPTRADE Tricked 14,800NGN out of Innocent Trader on WikiFX.com. After 24 hours, WikiFX received a massive amount of comments from Nigerian investors, who shared the experience of being defrauded by OLYPMPTRADE. It can be seen that OLYPMPTRADE is a huge scam broker, who deceived novice investors easily by attractive fraud tricks.

Here WikiFX lists some fraud cases of OLYPMPTRADE.

1:

An investor knew OLPMPTRADE by the recommendation of his friend that the broker provides crypt currency trading service with high profits. The investor bought BTC worth of 30,500 Naira from Luno( a bitcoin trading and transferring service provider) with his account at OLPMPTRADE. After several days, the investor received an email from OLPMPTRADE, they mentioned that BTC had been returned to the investor‘s original wallet, but the investor didn’t receive it.

2:

An investor shared his story of being scammed with WikiFX.

The investor was defrauded by one guy called Alfred. He said that guy disappeared after he invested 1,000 USD on OLPMPTRADE. OLPMPTRADE in Lagos just recorded the investors losses instead of profit, which not even open to the investor. The investor contacted his bank to get his cash back, but the bank communicator said he should go and get a court order, then the bank will return the money to his account.

Here below is Alfreds WhatsApp groups, named “Alfred 7Figure” being a forex trading group on behalf of investor. After the payment was made, he absconded with the money.

3:

An investor said he traded with demo account on OLYPMTRADE before the real trading. However, the investor found there is totally different between demo account with real account. The investor deposit 7,600 Naira on OLYPMTRADE, and he observed the movements of the chart on the demo account is totally different from that on the real account. He contacted OLYPMTRADE customer service and no one replied him.

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The investor also sent an email but got no definite response. So he continued trading with the one he knows. However, his account dried up and OLYPMTRADE sucked all the money at the end.

4:

The investor complained he lost 200 USD in 3 mins on OLYPMTRADE.

Also, the investor also mentioned he invested 18 USD, but could withdraw 8 USD only. 10 USD cannot be withdrawn, as deposit balance in his trading account.

5:

The same case mentioned above. The investor deposit 110 USD on OLYPMTRADE, but could withdraw 80USD only. The other 30USD as a bonus for deposit in his trading account was unavailable for withdrawal.

The problem is that OLYPMTRADE never tells the investor that his account needs a reserve deposit.

Therefore, from the above cases, it can be seen that OLYPMTRADE is fraudulent broker without valid regulatory status. New complaints are still being sent to WikiFX continuously. It is strongly recommended that all investors stay away from this illegal broker!!

Per checking WikiFX App, OLYMPTRADE has a poor rating of 1.22, and the broker currently has no valid regulation, bearing great risks. The broker is currently active on large social network such as Telegram and Facebook, please stay away!

OLYMPTRADErating on the WikiFX App

If you have no idea of choosing forex broker or are afraid of being defrauded by illegal broker when you are going to trade, you can download the WikiFX APP to check whether a forex broker is regulated or not, or expose its fraud behavior. WikiFX will help you recover the loss.

So far, WikiFX has collected 16,000 forex brokers and recovered 437 million USD of victims. If you have been defrauded, please contact us by the WikiFX APP.

According to research., the Nigerian market has poor regulatory environment. If you do not want to lose money, please check whether the forex broker is regulated or not. Below are some famous regulators in the world:

1. UK Financial Conduct Authority (FCA),

2. American Commodity Futures Trading Commission (CFTC),

3. Australian Securities and Investment Commission (ASIC),.

4. Swiss Financial Market Regulatory Authority (FINMA),

5. German Federal Financial Regulatory Authority (BaFin),

6. Japan Financial Services Agency (FSA),

7. Hong Kong Securities and Futures Inspection Commission (SFC).

Furthermore: There are 6 more scam cases already posted on the WikiFX App.

Please see as below:

WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

https://www.facebook.com/WikiFX.ng/？modal=admin_todo_tour

LinkedIn:

https://www.linkedin.com/company/31506916/admin/

Wiki Fair Forum Function:

In order to help more investors, WikiFX has launched the “Wiki Fair” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

The exposure function of “Wiki Fair” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of Wiki Fair.

WikiFX APP exposure channel: https://www.wikifx.com/ng_en/download.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

Want to know more about Forex security and get money back by exposing illegal brokers？

Please download WikiFX APP from below links or scam code ：

iosAppStore： https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Googleplay:https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

Add WikiFX.NG official social media to keep up with the trend!!

Facebook:

https://www.facebook.com/Wikifxng-100222921591879/

Want to know more about foreign exchange security？

If you have any questions, please feel free to contact us at wikifx@wikifx.com

The following is the process of how to use app:

1: Download WikiFX

You can download the app on Google Play or Apple Store for free.

2: Register to be a WikiFX member

Enter your phone number and verification code.

3: Select Language and your area

4:Find “Exposure” section on Homepage

5:Edit post and release

Click the edit icon and choose either type of reason you wanna expose. Then, select the broker you wanna expose, edit your scammed experience and release it.

Declaration: The article evidence exposed by WikiFX is verified by the following processes:

1: Evidence Collection: (Chatting history records, Trading history records, Banking Transaction records and recording videos from victim).

2: These evidences will be evaluated and verified by expert who has been work in forex industry for many years.

3: The editor will review it again before the article is published.

If you find there are still exist errors in article, we will improve them as soon as possible, and strive to provide consumers with a good and reliable exposure platform. Thank you for your feedback.