WikiFX

Reply

Drawing from my experience as a forex trader, I always approach withdrawals with extra caution—especially when a broker is flagged for high potential risk and regulatory irregularities as IFX is. Even though IFX offers payment solutions and FX services and claims an operating history of 5-10 years, the WikiFX risk alerts and exposure reports from actual users indicate that issues with withdrawals are a common problem. Some users have specifically reported requests for additional deposits or various types of fees before withdrawals were processed, and complaints suggest a pattern where accounts might be locked or users are asked for further documentation or payment to “unfreeze” funds. Under typical industry practice, completing your first withdrawal would require standard verification documents. These include a government-issued photo ID (such as a passport or driver's license), proof of address (like a recent utility bill or bank statement), and sometimes confirmation of your payment method (for example, a photo of the bank card or a screenshot from your e-wallet). These measures are standard for anti-money laundering and compliance reasons. However, given IFX's regulatory status—specifically, that both FCA and DFSA licenses are stated to be “exceeded” or have suspicious status—my advice is to be extremely conservative. I would ensure all documents submitted are legitimate and be wary if the broker demands additional or unusual fees or paperwork. If the broker insists on further payments or creates obstacles regarding documentation beyond what is standard in the industry, I would see this as a major red flag and consider pausing before proceeding further with any large withdrawal. Ultimately, for me, protecting my capital comes before convenience, and the burden of proof is always on the broker to show they operate fairly and transparently.