How to Avoid Frauds of Illegal Platforms During Year’s Rush Periods?

Posted by freemexy on January 5th, 2021

Every end of the year is the rush period during which brokers skip town in succession. For instance, MCFX, ACTIS and SCEID have delayed the withdrawals, while EIGEN FX and IAL Ltd cracked one after another. Once a platform goes into hiding, the funds of investors will be hard to retrieve. Thus it is necessary to identify illegal platforms.To get more news about WikiFX, you can visit wikifx official website.

  1. The platform is under no regulation

  Platforms under no regulation could skip town anytime, resulting in the suspension of your account at any time.

  2. Rumors swirl about the platform

  Negative news about the platform is a wake-up call for traders, as where there's smoke, there's fire. WikiFX will warn investors once observing abnormal signs. Check your platform on WikiFX before depositing, so as to protect your funds

  3. Refuse withdrawals with various excuses

  The Covid-19 and US presidential election are the new excuses for failed withdrawals, which, however, are generally a delaying tactic.

  4. High interest on late payment/hard to withdraw

  In this case, the platform is either established for self-financing or suffering a broken capital chain.

  5. Unusual settlement memos

  Settlement memos of platforms that prepare to escape will be frequently unusual. Stay alert to such status.             

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