WIKIFX Report! Complaints On The Withdrawal Issues With TradeFCM

False information is a typical approach employed by dishonest brokers. If you take a brief look at the assertions the scam displays on its website, it seems to be quite trustworthy. However, if you begin dealing with it, you will discover that whatever trading knowledge it provided has been omitted, and the deception itself is implausible.

WikiFX, a forex trading search engine software, has been keeping an eye on TradeFCM, an unlicensed broker. Because of the complaints and withdrawal issues circulating on the Internet, it has become the buzz of social media and on review sites

.

Why is it so simple for WikiFX to evaluate whether a forex broker is a scam？

WikiFX lists over 38,000 brokers, both registered and unregulated, and works closely with 30 financial authorities. WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published information is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up-to-date.

WikiFX recently discovered that TradeFCM was one of the fake brokers.

Is TradeFCM Trustworthy or Reputable？

When you examine the broker's honors and extensive history, you may first see it as trustworthy and dependable. When you click on its awards page, however, the result just notifies you that the page you're looking for does not exist in its content. This is a warning sign.

Furthermore, the corporation displays Copyright 2012 - 2022, implying that the site has been in operation for ten years, while the https://tradefcm.com/ domain name was verified to be registered on 2016-10-04. That's another red sign.

Is TradeFCM Regulated？

The language on the front page says “Truly Licensed & Regulated,” which looks to contain the majority or all of the regulators and registrations.

However, the organization cannot leave any verifiable documentation of registration and regulation. Furthermore, as a forex broker situated in the United Kingdom, TradeFCM is not licensed by the Financial Conduct Authority (FCA), a watchdog that monitors the investing operations of the majority of corporations in the United Kingdom. In other words, the corporation is not subject to the supervision of any financial authority.

What about the potentially dangerous leverage of up to 1:1000？

The platform has multiple account kinds with a maximum leverage of 1:1000. This amount is too high for a UK-based broker claiming to be supervised, since the FCA has implemented leverage rules, limiting leverage to less than 1:30 for FX majors for retail customers, to safeguard investors from the increased losses that trading with such high leverage may result in.

That is, the corporation is violating the rules and regulations that regulate financial service providers.

What Do Traders Think About TradeFCM？

TradeFCM is not recommended by any of its clients. Victims have reported withdrawal issues with the broker on many independent reviewing platforms, including WikiFX. Let's look at some screenshots below.

From WikiFX user who used to trade with TradeFCM

Here is the complete details of the Exposure: https://www.wikifx.com/en/exposure/detail/202108259462138673.html

Feeback from other review sites

As a result, TradeFCM might be considered a fraud.

Visit TradeFCM dealer page on WikiFX for more details: https://www.wikifx.com/en/dealer/5101474285.html

A good rule of thumb is to thoroughly research all Forex businesses before trading with them.

How does WikiFX help traders who have been scammed by unregulated broker like TradeFCM？

WikiFX's team is working hard to provide prompt assistance in retrieving funds from fraudulent forex brokers with the help of Financial Authorities. Furthermore, the program has the potential to reveal a particular broker's illegal activities. Simply go to the official WikiFX website and choose Exposure from the menu bar. You may also contact WikiFX's customer service.

Final words

Based on the data presented above, we can conclude that TradeFCM is a scam. It consists of engaging in unethical behavior in order to steal directly from its clients by misappropriating money or assets entrusted to it.

Download the WikiFX app from the App Store or Google Play Store to receive more fraud news.