WikiFX Scam Alert: FCA Warns Against TELCO FX!!

Breakings!!! TELCO FX was blacklisted by the Financial Conduct Authority in the UK, which warned on December 9, 2022 that FX STOCK has been pretending was authorized by FCA to offering its financial service in the UK. You may see the warning on the screenshot below.

According to the FCA, FX STOCK is not authorized to offer financial services in the UK. In fact, the FCA has stated that this is not a licensed broker and therefore you would not be end to any protections. Such warnings prove with almost absolute certainty that a company is running some sort of scam – so refrain from choosing shady enterprises that have received the negative attention of reputable financial authorities like the FCA. The only way to be sure that your investment is in good hands and that you would be treated fairly and in accordance with all laws would be to turn to a licensed, legitimate broker.

WikiFX also paid a visit to the brokers official website to learn more. So far, its official website is still accessible, proving that TELCO FX is still deceiving investors, their tricks didn't stop with the FCA's warning. According to its website, it's clear that the company is attempting to flout the FCA's warning to prove it was a legitimate company.

TELCO FX claimed to be the Investing name of TelcoFx Group Ltd, which has the registration number HE 282265, and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

WikiFX visited the authoritative financial regulator in Cyprus to check if it was licensed by CySEC. However, the results were quite negative - there was no company named TelcoFx Group Limited and no TELCO FX was registered as a regulated entity in CySEC. This is another trap you should be wary of, trying to deceive investors that it is a regulated, legitimate business.

TELCO FX also said that it is a member of The Investor Compensation Fund (ICF), all our clients fall under its protection, and are eligible to be compensated, thus guaranteeing the safety of their funds.

That's why most investors are being duped by TELCO FX. TELCO FX tried to trick customers into offering 100% profitable investment plans that guaranteed the safety of all your money, but once you put your money in, it meant you could never get it back. Please bear in mind that this is totally a scam uncovered by the authorities. All information on its official website is baseless and untrustworthy. No matter how well the terms and conditions on its website and the trading platform are presented, remember that these are decoys that are trying to lure you in -- once you've deposited your money, the elaborate traps are just beginning.

In conclusion, trusting a broker like TELCO FX is simply not worth it – you will certainly end up robbed. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!