More details at WikiFX App, which is
available on Apple Store and Google Play.
As the world’s largest financial market, the forex
market attracts the largest number of investors with many strengths such as
large trading volume, high transparency, flexible leverage and relatively lower
trading costs. However, forex investors often have a hard time verifying the
information of brokers based overseas, or even in China, because these brokers
are scattered across the world. Seeing this, WikiFX sets up the field survey
team to inspect brokers on-site upon investors’ demand and present investors
more details of the broker’s situation in reality. The service allows investors
to inspect a broker from all dimensions and helps them in choosing a compliant
broker and avoiding traps of illegal ones.
WikiFX field-survey team will first refer to broker’s
regulatory information and the broker’s official website. Next, they will visit
the broker according to the address in its regulatory information and conduct
an all-round inspection of the broker, including its geographical location,
office environment, company size and whether its situation in reality
corresponds to website and regulatory information. After the visit, the team
will release a detailed survey report of the broker on WikiFX website, offering
investors reliable information to draw on in later investment.
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| WikiFX team is visiting a broker’s office |
Since we launched the field survey program with our
investigation team, WikiFX has visited hundreds of brokers across the world
such as in Britain, Cyprus, Australia, Singapore, Malaysia and Indonesia. When
the scandal of GCG Asia swept across SE Asia and stirred up the forex circle,
even affecting some institutions in Australia and Switzerland, WikiFX
immediately sent out the survey team to Phnom Penh after the news came to learn
about more details through investigation. An in-depth survey report was then
published on WikiFX website and WikiFX Journal, presenting investors a
comprehensive analysis of the incident. At the middle of this year, WikiFX
further enhanced the field-survey function by launching VR field survey report
on both WikiFX App and PC. This upgrade allows investors to gain a more
comprehensive view of a broker through an immersive way, and investors can now
view the office environment of brokers such as FOREX.com and Acetop through VR.
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| WikiFX field-survey team investigating GCG Asia’s headquarter in Phnom Penh |
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| VR visit report of FOREX.com |
The global economic boom has encouraged the thrive of
forex market and proliferation of brokers. But despite reinforced regulation,
the forex market remains a complex environment where compliant and illegal
brokers co-exist and the situation is unlikely to be changed overnight. In the
future, WikiFX will continue to enhance the field-survey function base on the
data collected through on-site inspections, while visiting more brokers to
bring investors authentic and reliable information about them. “Seeing is
believing”, so WikiFX aspires to be a pair of “eyes” that help investors see
brokers more clearly and achieve better investment experience.
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