Scam Alert: Beware of LUNOTrade (www.mylunotrade.com). Your Capital Might Be At Risk!

Forex trading is a popular activity that has been growing in recent years. Many people are attracted to the forex market because it is open 24 hours a day, has high liquidity and offers the potential for high returns. However, it is also a high-risk investment activity and can be volatile, so it is important for traders to understand the risks and carefully manage their trades.

On the other hand, a lot of Forex brokers defraud traders by refusing to process their withdrawal requests or by manipulating the prices at which their trades are executed. These brokers may also make exaggerated claims about the profitability of their trading platforms or investment opportunities, or they may mishandle traders' funds by using them for unauthorized purposes. An example is LUNOTrade

Overview Of LUNOTrade (www.mylunotrade.com)

MylunoTrade LTD is a forex trading platform registered in South Africa. It should be noted that LunoTrade has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Brokers list.

Here are the ways of scamming you should be avoided

• Offering exaggerated claims about the profitability of their trading platforms or investment opportunities.

• Manipulating the prices at which trades are executed.

• Failing to execute trades or delaying the execution of trades is to the disadvantage of the trader.

• Misusing or mishandling traders' funds.

• Operating without proper regulation or licensing.

• Failing to provide accurate and timely account statements to traders.

• Refusing to process withdrawal requests or delaying the processing of such requests.

• Asking for important information from you such as bank account and etc.

The common issues that are reported to WikiFX by its traders



You can check out all cases here: https://www.wikifx.com/en/dealer/2198507124.html

Final words,

It's important for traders to be aware of these tactics and to carefully research any forex broker before opening an account with them. Traders should look for brokers that are regulated by reputable organizations and that have a proven track record of honesty and transparency.

Use WikiFX App more often to avoid landing on fraud brokers. You can also contact WikiFX Support if necessary.



Stay tuned for more Forex broker reviews.

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Download link: https://www.wikifx.com/en/download.html