Mandy was suspected to abscond

Website closed, and customer service was out of contact.

Investor cannot withdraw money.

Platform rated at 3.33 for overrun business.

It was suspected to runaway.

Investors always feel helpless when cannot withdraw money and find no one to ask for help because of the closure of broker’s website and customer service out of contact. Recently, WikiFX received investor’s real-name complaint against Mandy for being unable to access Mandy’s website and submit withdrawal application; and the platform cannot be reached for long time.

Investor lodged a real-name complaint against Mandy

Photo of the investor’s ID card

Ms. Chen reported Mandy by presenting her ID card.

Ms. Chen’s terrible experience

Ms. Chen shared her terrible experience with WikiFX

Ms. Chen’s said, she was introduced to deposit money to Mandy by an analyst, and kept on making loss in trading. On 19^th February this year, she couldn’t access the platform’s website. Though she contacted the customer service several times, but got no replies. Now, she still cannot withdraw the money in her account.

WikiFX’s investigations

1. Ms. Chen cannot enter Mandy’s website

Screenshot of Mandy’s website

Mandy’s website cannot be accessed from February this year.

2. Ms. Chen contacted the platform customer service afterwards

Screenshot of the conversation between Ms. Chen and platform customer service

Ms. Chen found the platform’s data wasn’t updated anymore, and contacted the platform customer service promptly, but they didn’t reply. What’s worse, she couldn’t enter Mandy’s website from that time. She tries to contacted the platform many times, but failed.

3. Ms. Chen’s account balance

Screenshot of Ms. Chen’s account balance

To date, Ms. Chen still cannot get money back from her account.

WikiFX App verification of Mandy

Regulatory information of Mandy

Screenshot of Mandy’s regulatory information from WikiFX App

As per the investigation by WikiFX, Mandy holds NFA(US)’s license for offering general financial service only. Without the authorization of Forex brokerage business, its overrun business in China is illegal and has considerable risk.

MT4/5 identification

Screenshot of MT4/5 identification from WikiFX App

Per investigation, Mandy uses white-label MT4 trading software with server set up in China and US respectively.

Network diagram

Screenshot of network diagram from WikiFX App

Per identification, Mandy has relation with two Forex brokers in white label, which are Goldjin and AG respectively.

Warning from WikiFX App

Screenshot of Mandy interface from WikiFX App

After verification by WikiFX App, Mandy operates in overrun business in China with white-label trading software and has high potential risk. Meanwhile, the platform website closed and customer service was out of contact, which makes investor fail to withdraw money. Investors are strongly suggested to protect your rights and interest as early as possible to avoid further loss recurred.

Conclusion

WikiFX reminds investors to check broker’s information regularly by WikiFX App before investment. Mandy is rated at 3.33 only for overrun business. Therefore, investors should be alert to suspected brokers with low ratings to avoid risk.