GENERAL RANKINGS – THE SCAM BROKERS ON JUNE 2022 BY WIKIFX

As we know so far, forex trading is one of the most profitable businesses in the financial market. However, it doesnt mean everyone can win big while trading forex. In reality, many people suffer a heavy loss in the forex market. The biggest challenge for them lies in seeking a solid broker. Today, WikiFX has listed the top 5 scam brokers of June 2022 to prevent you from getting scammed.

WikiFX Score

WikiFX Score is comprehensively evaluated by WikiFX based on a variety of factors including the licensed index, the level of business comprehensiveness, the risk control index, the management index, and software parameters. So based on those factors, what are the brokers with the highest ratings this June？

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Liteforex

Liteforex is on the list of scam brokers for June 2022. Currently, this broker has been given by WikiFX a very low rating of 2.24/10. The WikiFX rating of this broker decreased due to too many complaints we received from the traders, In the last 3 months, WikiFX has received 57 complaints, of which the majority of customers submitting denunciations are from Vietnam. The issues mentioned are mainly spread fraud, and unable to withdraw.

Arygos Ltd

Arygos Ltd is currently rated at 1.16/10, ranking 2th in the ranking of the scam brokers in June. WikiFX has received a total of 15 negative reviews related to this broker., of which only 13 complaints in the last 3 months. In addition, Arygos Ltd is undervalued by the NFA license (management license number: 0540732) that the broker announced is suspected of forgery in April, Arygos Ltd also appeared on many mass media channels because of the sudden payment of liquidity to thousands of investors who could not withdraw money.

SEA Investing

Ranked 3rd on the list of scam brokers in June is SEA Investing. SEA Investing advertises as an “international stock exchange” but the cash flow from investors' pockets flows into domestic individuals and organizations. The scam of this broker is to entice investors to participate in setting up accounts and then put orders against the trend to burn the player's account for nefarious gain.

WikiFX has received seven complaints about SEA Investing in the last three months. “The first time in $1,000, I saw that I didn't want to ask for a no-nonsense order to say it was okay. and not instructing me to close the order I burned orders.in general scams” – a customer named Thanh Nhan shared in the denunciation section of the WikiFX app. 1.37 is not a good score.

CH Markets

CH Markets is the next name on the list. Although WikiFX has received 3 complaints against this broker. the problem is that the consultant deliberately misdirects customers leading to serious damage.

In addition, the investigation proves that the temporary brokerage floor is not recognized by any effective governing body. The license index and the risk control index are both rated 0 points. After all, WikiFX has given this broker a low score of 1.07/10.

FSDS

The FSDS is currently rated at 1.36. The exchange received six complaints in early June, mostly about the inability to withdraw money from the account. Through investigation, the temporary brokerage floor is not recognized by any effective governing body. The NFA license (license number:0547899) shows unusual signs, the official status is “Unlicensed”.

According to the study, the FSDS floor has an address: https://fsdsglobal.ltd/. On its website, the exchange advertises it as one of the Meta Trader 5 forex brokers from Australia, which was founded in 2008. Although advertised as an international stock exchange, this foreign exchange uses 100% Vietnamese employees, the cash flow of the investor also transfers to an individual who is

WikiFX has made a comprehensive review of FSDS, please click this link https://www.wikifx.com/en/newsdetail/202207069864885300.htmlfor the details.