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WikiFX Express

Here’s 6 of Many Pitfalls of Your Forex Trading Risks

Scam Alert: Beware of the Unlicensed Forex Broker SoegeeFX

WikiFX

| 2022-07-18

Abstract：Scam brokers are working under sketchy strategic approaches. Those unscrupulous trading brokers are recognized to cheat innocent investors of their hard-earned money illegally.

Company history starts in 2011

SoegeeFX says it is a a brokerage company established in 2000, the leading Indonesia's best forex specialists. However, its domain name (https://soegeefutures.com/) check result shows that it was first created in 2011. So how could it start its business in 2000？ It is a red flag here.

Supervision under Indonesian BAPPEBTI

As a brokerage entity, SoegeeFX claims to be a member of the Jakarta Futures Exchange and the Indonesian Futures Clearing House (Persero), supervised by BAPPEBTI - Ministry of Trade of Republic of Indonesia.

We do find a match result to SoegeeFX in BAPPEBTI. But as a forex trader, you must know BAPPEBTI is not a regulatory authority that issues licenses for forex trading or regulates forex activities. The is to say: SoegeeFX is not under valid regulation to offer forex investments by any regulators.

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.

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