WikiFX Review: You should be vigilant if your forex trader has these points！

With the rise of the Internet, the foreign exchange market has leapt to become the most liquid and traded financial market in the world. With this, a large number of different kinds of foreign exchange transactions have emerged, so which trader should you trust as an investor？ Now let's take a dealer registered in the UK as an example and talk about whether this forex dealer is reliable.

ForexTR, a UK-registered forex trading company. It is claimed that it has long provided high-quality dedicated foreign exchange services and they claim to be one of the most effective brokers in the world. But the outcome will tell us they were bold, but overconfident.

As a forex trader registered in the UK, the first thing we should do is to check if it is operating under their government agency and manipulating financial activities. The Financial Conduct Authority, as a leading British financial regulator, is accountable to the UK Treasury and aims to ensure honest and fair markets by protecting investors, protecting financial markets and promoting competition. The core work is to regulate the market behavior of financial companies, investigate misconduct, supervise financial products, and ensure that financial services meet basic requirements or standards.

As you can see from the screenshot that the search page shows“ no search results for ForexTR”, which makes it clear that the company is not regulated by the FCA.

Officially, the FCA clearly states: All companies offering financial services or products in the UK without our authorisation are problematic, be vigilant and know how to protect yourself.

If this firm is not authorised by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.

Now its time to take a look at their website(https://forextr79.com). Unfortunately, WikiFX was not able to open this page and access it – here is the error page that popped up when we attempted it.

Without access to the website, we cannot see for ourselves if it holds up to something like industry. As a professional broker, Its shocking that it does not have an official website or even the most basic information available to the public.

In the meantime, we paid a visit to their social media, but the results didn't make a difference-- the site still couldn't be opened, and the company wasn't even there.

This is undoubtedly a scam, an attempt to extract money from customers through deception. Actually, most of investors should be highly vigilant when they see this. Do investors still dare to invest in such platforms that does not even want to display basic information？

Now let's search “ForexTR” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/1597894698.html). Two ForexTR companies appear on the page, and both score poorly.This has to make people worry that these are a fake platform and if they are not careful with their investments they will fall into an investment scam.

ForexTR has no valid regulatory license and the score is rather negative - only 1.22/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Given what has been discussed above, it can be concluded that ForexTR has a high risk of trading,. Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not.

All traders should be vigilant when investing in a broker. 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.