What significant role does WikiFX scoring criteria play?

About WikiFX

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.

A. Scoring Criteria

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

WikiFX scoring criteria gives you a direct visual method to justify whether a broker you are looking at is good or not.

On WikiFX, if a broker scores between 7 and 10, That means this broker is a WikiFX-recognized excellent broker. These brokers are regulated by regulatory authorities. This means that anyone investing in these brokers doesnt have to worry about them being scammers and taking your money away fraudulently. Such dealers also tend to have few complaints from traders. WikiFX advises you to invest in those brokers if you want to enjoy a good trading experience.

On WikiFX, there are many dealers who score between 4 and 7. Most of these brokers are not scams and are regulated by local regulatory authorities. WikiFX tends to receive complaints from users about them, but not too many. Another important reason why the score of such brokers is not too high is that their risk management abilities are poor. When faced with emergency situations, they cannot find suitable solutions or do not have enough funds to operate.

On WikiFX, there's a class of brokers whose scores range from 0 to 4. These types of brokers are basically scams. They are unregulated, which means your money is not protected if you invest. Even worse, some of them get involved in Ponzi schemes. Investing in those brokers is extremely risky for your fund's safety as they may take your hard-earned money away fraudulently. It is no surprise that WikiFX can receive a lot of complaints against those brokers in a short period of time.