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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

SHANGQUAN

Hong Kong|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://shangquanfx.com/#/?lang=en-us

Website

Rating Index

Contact

info@shangquanfx.com
https://shangquanfx.com/#/?lang=en-us
ROOM 8, 11/F, WANG FAI INDUSTRIAL BUILDING, 29 LUK HOP STREET, SAN PO KONG, KOWLOON, HONG KONG
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

Warning: Low score, please stay away!
2025-01-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
2

Basic Information

Registered region
Hong Kong
Operating period
2-5 years
Company Name
SHANGQUAN LTD
Customer Service Email Address
info@shangquanfx.com
Company address
ROOM 8, 11/F, WANG FAI INDUSTRIAL BUILDING, 29 LUK HOP STREET, SAN PO KONG, KOWLOON, HONG KONG

charlie122

Canada

Shangquan plaform can't login again and the platform is off now in MT5. i never can't withdraw. i lost my initial capital around 165903$(US). My final benefit is 1368154$(US). They asked me to deposit 15% of all funds.  Now the company is gone. i lost my everything 

Exposure

2022-11-13

Finrecoup-org

United States

They had my investment stuck in the account for over a month they were stubborn about releasing it which changed with my picture proof, we use to have daily phone and email contacts until i asked to take out some of my investment in which case they gradually stopped responding to me i don't understand how a broker can be so heartless

Exposure

2022-11-03

Hasegawa

United States

This is one platform to be avoided at all cost, the broker steals money from my account and ask me to make a new subscription to get the old investment back, imagine my disappointment when i realised it was a lie withdrawal comes outside of Shangquan The broker only said that to get me to invest. I had a terrible experience with this broker and they've made it difficult to talk about it

Exposure

2022-10-31

Fx4679443

United Kingdom

I attempted to invest a sizable sum of money through this broker. It was really successful in the first month, but after a few months, it becomes nearly hard to close a typical trade. It is very comparable to a casino. They have the ability to just tell you with an excuse after taking all of your money. till AssetsClaimback picked up my ease and assured restoration, customer service was unable to answer promptly this firm have defrauded a lot of people stay away from them

Exposure

2022-10-26

Gary145

Australia

Shangquan is that broker to be avoided at all cost because of the manner in which they operate and the bad part is they never allow withdrawals to happen. My trading account was funded from my crypto exchange and after receiving notification of deposit in my MT5, I started trading and grew my investment portfolio to a stage where I got satisfied to withdraw. the very strange part happened when I requested withdrawal and I was told that I have to reach a certain amount in trading balance before I could withdraw. this raised the first red flag and I emailed them why? they responded that it is the usual but my instincts told me otherwise which was why I researched into Shangquan existence as a broker and I found that they have scammed a lot of people . I feel bad to be a victim but I am glad to expose them. I have shown my deposits in the pictures below to their wallet address and as well validation from the relevant authorities that they are running a scam scheme which would be helpful.

Exposure

2022-10-26

FX3464800242

Germany

Fraud warning This fictitious company is the best in the world at what it does, which is scamming helpless people. After losing $89,000 to them, my old father notified the police and FCA, but nothing was done. SHANGQUAN employees are skilled talkers who convey a sense of reliability. Please do not trust them. They will take anything you have from your funds. We file a grievance with assetsclaimback advisory, which triple-checked my dad investment. They stopped communicating with me after that, they think they were intelligent but not as bright as the advisory, which caused the con artists to flee engaging with SHANGQUAN is like a waste of time and money.

Exposure

2022-07-22

FX3677991397

United States

This a scam company which is a joke in terms of regulations, and will take your money, they did that with me after which I was unable to withdraw Companies like this will take your money and never get it back unless you seek professional assistance that is fintrack/ org rendered which was the only way I could get my money back The trading company were very nice first couple of months until I stopped injecting money into their platform

Exposure

2022-07-12

FX3428595313

Czech Republic

I requested a withdrawal since may and they assured me I would get it within 2 weeks. I figured no problem since i was not in a hurry i waited for months but nothing still i stoped getting a response from them with made me take action against them by filling for a refund with Tassettrace^org.

Exposure

2022-07-12

Fx4679443

United Kingdom

I wish I had looked into this fake investment platform called SHANGQUANFX more or read the news on their fraudulent Metatrader5. There are so many things that we regret only attempting to make money. Please be forewarned this platform isn’t even licensed but In the end, I only had to legally declare my money as stolen to Assetsclaimback Advisory in order to get them back. They were helpful, a brief web search revealed. I would have suffered a irreversible loss of 57967usdt. Because this business is unregulated and cannot be held accountable because we don’t know who is behind this company and their office is no where to found.

Exposure

2022-07-12

Korkiat64424315

Thailand

Never risk going to this scam web or moving to it. I was happy with trading at first because I was making money, but when it came time to cash out, I couldn't get any of it.

Positive

2022-12-11

saher

Pakistan

**** I'm not using plzzzz helping

Positive

2022-11-17

saher

Pakistan

wikifx is best app

Positive

2022-11-17

12
Website
Company Summary
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Official website

Website

  • shangquanfx.com

    Server Location

    United States

    Website Domain Name

    shangquanfx.com

    Server IP

    75.2.60.5

Company Summary

Note: SHANGQUAN's official website: https://shangquanfx.com/#/?lang=en-us is normally inaccessible.

SHANGQUAN Information

SHANGQUAN is an unregulated brokerage company registered in Hong Kong. While the broker's official website has been closed, so traders cannot obtain more security information.

Is SHANGQUAN Legit?

SHANGQUAN is not regulated, which will increase trading non-compliance and reduce traders investment security. Caution is advised when dealing with the company.

Is SHANGQUAN Legit?

After a Whois query, we found that this company's domain name is for sale, which shows that SHANGQUAN has not registered it securely.

Is SHANGQUAN Legit?

Downsides of SHANGQUAN

  • Unavailable Website

The SHANGQUAN website is inaccessible, raising concerns about its reliability and accessibility.

  • Lack of Transparency

Since SHANGQUAN does not explain more transaction information, especially regarding fees and services, this will bring huge risks and reduce transaction security.

  • Regulatory Concerns

SHANGQUAN is not regulated, which is less safe than a regulated one.

  • Withdrawal Difficulty

According to a report on WikiFX, a few users encountered significant difficulties with fund withdrawals. The issue remained unresolved despite the request being pending for a long time.

Negative SHANGQUAN Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users. Traders must review the information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

Negative SHANGQUAN Reviews on WikiFX

Currently, there are 9 pieces of SHANGQUAN exposure in total.

Exposure. Cannot withdraw

ClassificationUnable to Withdraw
Date2022
Post CountryCanada/United States

You may visit: https://www.wikifx.com/en/comments/detail/202211133792845918.html https://www.wikifx.com/en/comments/detail/202211021322131754.html https://www.wikifx.com/en/comments/detail/202210317062309418.html.

Conclusion

SHANGQUAN Since the official website cannot be opened, traders cannot get more information about security services. In addition, the unregulated status and unregistered domain name indicate that the broker's trading risks are high. Traders can learn more about other brokers through WikiFX. Information improves transaction security.

Keywords

  • 2-5 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

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