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Abstract:It is estimated that the average daily trading volume in Nigeria's forex market may be around 350-450 million naira (US$1-1.2 million), and this figure is still on the rise. The number of Nigerian investors who are interested in forex has been growing steadily over the past decade, and Nigeria may have as many as 300,000 retail forex traders, among which about 25 percent are active traders.
In the face of the huge demand of the forex market in Nigeria without unified supervision system, many illegal brokers take advantage of this favorable condition to defraud investors by tricks. Illegal brokers have great space in the forex market, and these brokers take advantage of investors ignorance to earn a great amount of money with little cost. And it is very fatal for forex investors in Nigeria.
Since WikiFX has exposed OLYMPTRADE to public many times, OLYMPTRADE keeps sending warning messages to WikiFX recently. Yesterday, WikiFX received another complaint against OLYMPTRADE from an investor.
The event recap:
The investor tried to invest forex, and then he started to know OLYMPTRADE from the Internet and deposit money at the platform. At the beginning, he lost 30USD and inquired OLYMPTRADE that if he deposits 100USD when can the money be withdrawn? The investor was told that he would get 90% immediately and the other 10% would be returned to his trading account in 5 working days. Then he deposited 100USD as a try. Ironically, after 30 days, when he sent an email to require the refund, he received an auto reply, showing his request was under waiting. Unfortunately, his 100USD was confiscated unreasonably by OLYMPTRADE. What's more ridiculous is that OLYMPTRADE sent an Refund confirmation email to the investor when he deposited his money successfully.
The voice records sent by the investor are as below:
(WikiFX respects option of victims that they refused to provide video due to it involves the issue of personal privacy. WikiFX has made effort to collect the evidence available to be shown. Thank you for your understanding.)
WikiFX has exposed OLYMPTRADE many times. But OLYMPTRADE still does not give a positive explanation why they didnt register as a regulated broker. On the contrary, they have been explaining they are a legal 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!
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.
Download WikiFX App to learn the information of normal regulator.
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
Android:
https://appdl.wikifx.com/internationalapp/WikiFX-1.3.3.apk
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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.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.