WikiFX

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From my perspective as a seasoned forex trader, evaluating Pocket Trade, I have serious reservations about their overall trustworthiness and suitability for responsible trading. Most importantly, Pocket Trade lacks valid regulatory oversight. This factor alone is a major red flag for me, as regulation serves to protect traders’ funds, ensure a certain level of transparency, and provide recourse in case of disputes. In my experience, trading with unregulated brokers significantly increases counterparty risk and the possibility of unfair practices. Pocket Trade is based in Malaysia and has been operating for around two to five years. However, WikiFX flags both a “Suspicious Regulatory License” and a “Suspicious Scope of Business,” with an overall risk management score of zero out of ten. For me, such warnings are critical and reinforce the need for caution. Realistically, the lack of regulatory safeguards means that even if account opening or trading conditions seem appealing, I would personally avoid putting capital at risk here. While their business index is listed as moderately high, that does not compensate for regulatory uncertainty. When I weigh these factors, the disadvantages—particularly the absence of any credible licensing or investor protection—outweigh any perceived operational advantages. For traders prioritizing safety and trust, I would recommend considering regulated alternatives rather than Pocket Trade.