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Abstract:OANDA, a giant forex broker, has been blacklisted by WikiFX recently.
OANDA, a giant forex broker, has been blacklisted by WikiFX recently. It announced its withdrawal from the market in some Asian regions in September last year and closed all customer accounts in these areas two months after the announcement, promising to assist clients involved with their withdrawals in a certain period of time.
However, according to the statement of some users, the customer service of OANDA didnt connect them after the closure of their accounts until March this year, and the information of bank accounts provided by them as required ended up with unsuccessful withdrawals! Since then, customer service has become out of touch!
OANDA has been regulated by six regulators, including the Financial Conduct Authority (FCA) and the National Futures Association (NFA), since its establishment in 1996. It has emerged as a remarkable titan in forex platforms.
Despite each and every license held by OANDA under regulation, WikiFX has received a large number of complaints against it relating the severe slippage, bad service attitude, blocked profitable accounts, etc. In addition, situations such as Internet lag, unavailable connection, delay in submitting orders and stuff occur from time to time amid the usage of trading software of OANDA!
Check with WikiFX and you can find that the rating of OANDA is only 2.52. It has been blacklisted by WikiFX because of so many complaints against this forex broker.
Therefore, users are well recommended to urge the customer service of OANDA to complete their withdrawals, and legal action can be taken if necessary.
Provided an ever-changing market, no one can guarantee that every single forex broker is reliable! WikiFX APP is here to provide you with timely information and prevent you from hidden risks! (bit.ly/wikifxIN)
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.
The forex market is a global financial market, and Asia is home to some of the world's most active and influential forex traders. As such, there are many forex brokers operating in Asia, each offering unique advantages to traders. In this article, we will discuss the best forex broker in Asia.
Etiq Markets is an international brokerage company running operations across most of the South Asian countries including China, Singapore, Malaysia, Thailand, Indonesia, Vietnam and others.
MFM Securities is an offshore broker that, despite its status, is quite decent looking. However, brokers should focus on trading conditions, and not on looks. The leverage is maxed at 1:500, a common offshore broker value, while the EUR/USD spread was 2.1 pips on the demo platform. Such a spread is not really very lucrative for traders.
FXQMarket (FXQM) presents itself as a MT4 forex brokerage delivering premium trading services. They offer three account types, but haven’t fully disclosed the trading conditions.