Global Broker Regulation Inquiry App
WikiFX
Rojas 
1-2 years
What are the main risks when trading on the WK platform?
Broker Issues
Regulation
07-07
United States
WikiFX
Reply
The biggest risk associated with trading on WK’s platform is its unverified regulatory status. This absence of verification means that WK is not bound by the same regulatory scrutiny as fully verified brokers. This raises concerns about the safety of traders' funds and the transparency of the platform’s operations. Additionally, the platform has limited information on some of its services, which can add to the uncertainty. I would recommend exercising caution and ensuring that the platform’s offerings align with your risk tolerance before opening a wk account. You can also check WK reviews for more details on users' experiences.
Similar Questions
Is BCS Markets legit and safe?
maseko
05-04
What are the potential drawbacks of using Focus Markets?
Darren Ross
08-14
Is Fusion Markets a regulated broker?
Phoebe Yao
06-04
Based on your own experience, what would you say are the three main benefits of using TorFX?
Karoline Hardy
08-07
What are the pros and cons of Central Capital Futures?
J Forex Trader
06-08