April 15, 2020
Last week, WikiFX published an exposure article-OLYPMPTRADE Tricked
14,800NGN out of Innocent Trader on WikiFX.com. After 24 hours, WikiFX
received a massive amount of comments from Nigerian investors, who
shared the experience of being defrauded by OLYPMPTRADE. It can be seen
that OLYPMPTRADE is a huge scam broker, who deceived novice investors
easily by attractive fraud tricks.To get more news about OLYMPTRADE forex brokers, you can visit wikifx news official website.
Here WikiFX lists some fraud cases of OLYPMPTRADE.
An investor knew OLPMPTRADE by the recommendation of his friend that the broker provides crypt currency trading service with high profits. The investor bought BTC worth of 30,500 Naira from Luno( a bitcoin trading and transferring service provider) with his account at OLPMPTRADE. After several days, the investor received an email from OLPMPTRADE, they mentioned that BTC had been returned to the investor‘s original wallet, but the investor didn’t receive it.
An investor shared his story of being scammed with WikiFX.
The investor was defrauded by one guy called Alfred. He said that guy disappeared after he invested 1,000 USD on OLPMPTRADE. OLPMPTRADE in Lagos just recorded the investors losses instead of profit, which not even open to the investor. The investor contacted his bank to get his cash back, but the bank communicator said he should go and get a court order, then the bank will return the money to his account.
Here below is Alfreds WhatsApp groups, named "Alfred 7Figure” being a forex trading group on behalf of investor. After the payment was made, he absconded with the money.
An investor said he traded with demo account on OLYPMTRADE before the real trading. However, the investor found there is totally different between demo account with real account. The investor deposit 7,600 Naira on OLYPMTRADE, and he observed the movements of the chart on the demo account is totally different from that on the real account. He contacted OLYPMTRADE customer service and no one replied him.
The investor also sent an email but got no definite response. So he continued trading with the one he knows. However, his account dried up and OLYPMTRADE sucked all the money at the end.
The investor complained he lost 200 USD in 3 mins on OLYPMTRADE.
Also, the investor also mentioned he invested 18 USD, but could withdraw 8 USD only. 10 USD cannot be withdrawn, as deposit balance in his trading account.
The same case mentioned above. The investor deposit 110 USD on OLYPMTRADE, but could withdraw 80USD only. The other 30USD as a bonus for deposit in his trading account was unavailable for withdrawal.
The problem is that OLYPMTRADE never tells the investor that his account needs a reserve deposit.
Therefore, from the above cases, it can be seen that OLYPMTRADE is fraudulent broker without valid regulatory status. New complaints are still being sent to WikiFX continuously. It is strongly recommended that all investors stay away from this illegal broker!!
OLYMPTRADErating on the WikiFX App
If you have no idea of choosing forex broker or are afraid of being defrauded by illegal broker when you are going to trade, you can download the WikiFX APP to check whether a forex broker is regulated or not, or expose its fraud behavior. WikiFX will help you recover the loss.
So far, WikiFX has collected 16,000 forex brokers and recovered 437 million USD of victims. If you have been defrauded, please contact us by the WikiFX APP.
According to research., the Nigerian market has poor regulatory environment. If you do not want to lose money, please check whether the forex broker is regulated or not. Below are some famous regulators in the world:
1. UK Financial Conduct Authority (FCA),
2. American Commodity Futures Trading Commission (CFTC),
3. Australian Securities and Investment Commission (ASIC),.
4. Swiss Financial Market Regulatory Authority (FINMA),
5. German Federal Financial Regulatory Authority (BaFin),
6. Japan Financial Services Agency (FSA),
7. Hong Kong Securities and Futures Inspection Commission (SFC).
Furthermore: There are 6 more scam cases already posted on the WikiFX App.
Please see as below:
WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.
It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:
Posted by: Elite Mater at July 16, 2020 01:37 PM (KQKVR)
Posted by: Elite Mater at July 16, 2020 01:39 PM (KQKVR)
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