WikiFX Scam Alert: CONSOB Warns Against EU FX Bank!!!

Investors who are still trading forex at EU FX Bank had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First of all, let us start with the most important - the Italian financial regulator CONSOB has issued an official warning on October 24th against Eufxbank.com, and has blacklisted this specific website. You may check the screenshot below:

It states that the firm has been offering its services on the markets of Italy without the necessary authorization by the regulator, which has then blacklisted it. Such a warning is a definite proof that we are dealing with a scam!

WikiFX also paid a visit to the broker's official website to learn more. The EuFxBank website appears to be completely anonymous. Just take a look at their contact details – there is no corporate address or corporate background whatsoever, just some obscure phone numbers and emails and that is about all.

EuFxBank claims to be regulated in both Hong Kong and Cyprus – two big financial centers with strict regulators.

However, no addresses were provided. What is more bothersome is that neither the name of EuFxBank nor the company behind the broker, Cryptopay LIMITED, was to be found in the registers of CySEC (Cyprus) and the SFC of Hong Kong.

The broker also claims to be regulated by Lebrn.com – a website popular in the circles of scam brokers. This website is no actual regulatory authority and seems to exist with the sole purpose of providing scam brokers with fake licenses.

Furthermore, EuFxBank promises a powerful platform, but in reality offers just a simple, unproven web based one, which you may check on the screenshot below. Whatever the story, just bear in mind that the absence of any reliable and proven trading software, as for example the industry standard MetaTrader4 and MetaTrader5, is yet another clear indication that you are dealing with a scam.

Now let's search “EU FX Bank” 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, EU FX Bank currently has no valid regulatory license and the score is rather negative - only 1.04/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

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. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in EU FX Bank. The so-called brokerage has an official CONSOB warning issued against it, meaning that nothing here is actually legal. Trust in the Italian regulator - Eufxbank.com is completely unregulated and a big risk to all investors and their money!

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.