Abstract：The name WealthFX sounds appealing for all those wishing for a rewarding forex journey. However, behind the aspiring name are multiple complaints against the Comoros-based forex broker. These trading complaints dampen the broker’s reputation in the forex community. In this WealthFX review article, we have shared some of these complaints here. Take a look!
The name WealthFX sounds appealing for all those wishing for a rewarding forex journey. However, behind the aspiring name are multiple complaints against the Comoros-based forex broker. These trading complaints dampen the brokers reputation in the forex trading landscape. In this WealthFX review article, we have shared some of these complaints here. Take a look!
Top Forex Trading Complaints Against WealthFX
The Fund Scam Allegation in the Name of Scalping
Scalping is a type of forex trading where traders execute trades in a few seconds to minutes to benefit from small currency pair price movements. However, a trader admitted that WealthFX marked all of his trades as scalping even though they were for more than 50 minutes and prevented him from accessing withdrawals. This is how the trader shared the WealthFX review.
A Tale of Failed Promises & Additional Fee Liability for Payouts
Some traders have admitted that WealthFX fails to deliver them their promised returns. To make it clear, there is nothing assured in forex investments, even though they offer tremendous potential for lucrative returns. Also, the broker asks traders to pay additional fees for payouts. Take a look at the screenshot below to understand this trade manipulation.
Funds Once Deposited Cant be Withdrawn, Says the Trader
A trader claimed that the deposited funds cannot be withdrawn, allowing the broker to pile on the losses for its clients. Here is a small but strong statement made by the trader.
WealthFX Review by WikiFX: Score & Regulation Status
These forex trading complaints made the WikiFX team investigate WealthFX on several aspects, including its regulatory status. True to our suspicion, the broker was found to be an unregulated entity, answering your question - Is WealthFX real or fake? Given the prevailing investment risks, our team gave WealthFX a score of 1.93 out of 10.
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