WikiFX

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . Broker: Mfeforex Regulatory status: overrun Complainant: Mr. Cheng Cause of complaint: Withdrawal failure A few months ago, the scandal of forex broker FFS and its related introducing broker group stirred up the forex circle, and the issue of introducing brokers became a much discussed topic. Another investor’s report that WikiFX got recently resembles the FFS scandal, as in both cases the trading platform and IB were suspected to be manipulated by a same group of scammers. The investor, Mr. Cheng, shared his experience of being defrauded. Mr. Cheng’s ID card Event recap In March, 2018, Mr. Cheng was introduced to Mfeforex by an IB and began trading on the platform, during which he remained in contact with the IB agent about his deposits and other investment issues. At first, Mr. Cheng’s investment at Mfeforex was profitable and he also developed a trust for the IB, so ...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . U.S. home sales data had just been released. The existing home sales shows a positive trend, reaching 5.42 million which is slightly higher than the estimated 5.39 million; on the other hand, new home sales turns out to be 635 thousand, which is lower than the forecast of 649 thousand. Existing home sales measures the annualized number of existing residential buildings that were sold during the previous month, while new home sales measures the annualized number of new single-family homes that were sold during the previous month. The figures help measure the strength of the U.S. housing market while serving as key indicators of the country’s overall economy. There are also implications on the market trend of US dollars: an actual data higher than estimation points to uprising trend of US dollar, while a figure lower than estimation suggests the opposite. More specifical...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . Company name: Albus Capital Inc. Address: U0155, 2nd Floor, Chung Kwong Building, Jalan Okk Awang Besar 87008 labuan F.T., Malaysia. Visited on: August 26th, 2019 Visited by: WikiFX team Address of ALBUS CAPITAL on its official site Previous on-the-spot investigation On our last investigation trip, we visited UOB in Malaysia and confirmed that the company is at the address from its regulatory information and is in business under LFSA regulation. As an “eye” for global investors, WikiFX conducts spot check on forex brokers and makes overall assessments based on the results, in order to better serve forex investors and help them identify the reliable brokers. Upon investors’ requests, we’re checking out the forex broker ALBUS CAPITAL in Malaysia this time. On-the-spot investigation According to the address on the broker’s website and the street map, we came to Jalan Okk...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . Malaysia’s gold price reached its highest level in 6 years and continued to climb against a greatly volatile global market, exceeding 204 Ringgit per gram by August 12th. On the 4th Penang Signature Gold Fair in Malaysia last week, President of FGJAM(Federation of Goldsmiths & Jewellers Association of Malaysia) Steven Siow noted that Malaysia’s gold-product-export increased by 25.6% to reach 3,632 million Ringgit. Influence of cultural traditions and deeply-rooted investment habits has driven people’s rising gold demand in SE Asia. With a GST-free policy, Malaysia provides a favorable environment for the gold industry to thrive and attracts many renowned forex brokers who want to invest in the country. Forex brokers like Hirose Financial, Tickmill and Binary all have Malaysian branches. They offer a wide range of trading categories including precious metal, of ...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play Unlike other financial markets, the forex market is not a tangible place in reality where forex deals take place. Instead, It’s a network of transactions between banks, businesses and individuals - a virtual market in which forex brokers play the crucial role of intermediary. The booming forex industry has seen a proliferation of forex brokers of mixed qualities, making it hard for investors to verify brokers’ profiles and decide which is trustworthy. Consequently, investors often fall victim to forex scams during investment. Forex is a thriving industry, and its sound development not only requires the professionals’ adherence to their code of ethics, but also needs the supervision of media, particularly leading industry media like WikiFX, in the Information Age. The greatest highlight of WikiFX is that it allows investors to conveniently check a broker’s profile by a simple cl...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . Corporate Name : United Overseas Bank Limited (UOB) Address : level 6 (A) main office tower, financial park labuan complex, jalan merdeka, 87000 labuan F.T., Malaysia Visiting Date : August 19th , 2019 Visitor : WikiFX team UOB's location Previous on-the-spot investigation Last time, we visited Deutsche Bank--the best bank in Germany. It turned out that the location of its Malaysian licensed office corresponds to the regulatory information. The company is in business under the regulation of LFSA. As an “eye” of global investors, we conduct spot checks on forex brokers and make overall assessments of these brokers afterwards. We use the assessments to better serve forex investors, helping them find the reliable forex brokers while keeping them away from illegal ones, and we remain committed to that goal despite all the challenges. Today, we're visiting United Overseas Ba...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . The beginning of August saw 2 incidents that significantly affected the forex market: The US Federal Reserve announced to cut the interest rate by 25 basis points, lowering the target range of interest rate to between 2% and 2.25%. Meanwhile, the US Labor Department released July’s Nonfarm Payroll (NFP), and the figure increased by 164,000, slightly lower than the previous forecast of 165,000. The releasing of NFP and interest-rate cut stirred up the forex market, causing mixed feelings among investors. During such a time of volatility, WikiFX conducted a massive trial trade among 94 forex brokers and after analyzing and comparing their trading speed and slippage, listed the top 20 brokers. The result of this experiment presents investors the competence of each broker and helps them gain a comprehensive view. To better understand how the release of NFP and the Federal Reser...

More details at  WikiFX App , which is available on  Apple Store  and  Google Play . Recently, China’s leading forex media WikiFX officially opened its Vietnam branch in Landmark 81, the tallest landmark skyscraper in SE Asia. This marked another major step of WikiFX to expand its SE Asian market, as well as a countdown for the Wiki EXPO kicking off on September 21st in HCMC. Owing to the success of the last 2 exhibitions in Sydney and Kuala Lumpur respectively during the past months, there has been a high anticipation for the HCMC exhibition as the public expect even more highlights and useful information for investors. Looking back to the Kuala Lumpur EXPO that successfully wrapped up not long ago, the event received wide acclaim, with over 3,000 attendees, more than 30 exhibitors and over 25 guest speakers. Investors from Kuala Lumpur as well as other cities across Malaysia were attracted to the event to directly communicate with the exhibitors and...