Illegal Broker TRADE.COM Manipulated Forex Trading Behind the Scene

In response to investors demand, WikiFX visited the broker TRADE.COM last May and found that its claimed address in Cyprus was fake. Moreover, the complaints from investors are pouring into the exposure platform of WikiFX. They highly suspect TRADE.COM of manipulating forex trading behind the scene. Many investors thus have blacklisted it. What exactly was going on？

After the field investigation on TRADE.COM, WikiFX rated it as poor and warns investors against facile deposit.

One of the complainants told WikiFX that he was mildly interested in TRADE.COM at first. To begin with, he set up a virtual account on its platform for observation and more information. “I never expected the platform to be so disordered that it can screw up a virtual account.”

Data from TRADE.COM

Authoritative data

The above two pictures show the price trends of sweet crude oil on TRADE.COM and an authoritative platform respectively, which were both shared by the complainant. By comparison, he observed that even for the same crude oil futures, the data in the two platforms actually differs by at least 0.3 points.

The complainant said that: “The difference is large. Apparently, TRADE.COM is fixing the prices and thereby deceiving investors.” Fortunately, his account is just a virtual one, otherwise the losses may be considerable.

TRADE.COM is currently under CySEC's normal supervision. Nevertheless, WikiFX alerts investors to the risks of this broker considering the increasing complaints recently. WikiFX also reminds investors to check the authenticity of a broker‘s license, regulatory information and market data before choosing the broker. Click WikiFX APP to check broker’s qualification now.

TRADE.COM received a rating of 5.77 on WikiFX App

So far, WikiFX App has included profiles of more than 19,000 forex brokers around the world, while integrating broker information query, exposure, news feed and other functions, and protecting investors fund safety in forex trading. More exposures are coming soon.