WikiFX Review 2024 – Blackmails Brokers and Writes Fake Reviews

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WikiFX Blackmails Brokers and Writes Fake Reviews

If you have ever been interested in trading, you must have come across WikiFX. WikiFX positions itself as a “global forex broker regulatory inquiry app.” What an ego for a company that is actually a scam! But first things first.

scam

What is WikiFX?

WikiFX is a “third-party service provider for users to inquire whether a broker is formal, legal, and real.” This is what they write in the description. WikiFX specializes in checking a broker’s licenses and regulations and collecting users’ reviews about brokers.

However, we have proof that will convince you not to trust WikiFX. After a short research, I found messages on a popular American forum where people claim they have become victims of it. They say that WikiFX spreads false reviews and false information on its website and blackmails brokers after that.


wikifx scam

WikiFX: Origins, Goals, and Ways to Fight Competitors

WikiFX is a Chinese company aiming to protect their national platforms and get rid of the competitors. WikiFX works mainly in South East Asian countries: Thailand, Vietnam, China, Philippines, Indonesia, etc. On their website, they mark brokers not regulated and suspicious. Then their managers blackmail brokers via Skype, LinkedIn, and email.

Their main offer is to buy a classic package that costs a minimum of $3000 per month, and only after that, they will give you a clear and nice review. If brokers don’t pay, the negative reviews will be written non-stop.

WikiFX Requires Money to Stop Writing Fake Reviews

One anonymous shared with me screenshots of his conversation with WikiFX managers. WikiFX published info about the broker without any permission and linked there some negative comments. After that, WikiFX managers contacted him several times via different social media. First of all, don’t you guys think that if you position yourself as a reliable broker reviewer, you should use the correct English language?

As we can see, the manager is trying to convince our anonymous to promote his company on the WikiFX website. He replies that he is not interested in it, and guess what comes next? WikiFX publishes information about the broker on its website with unexpectedly low ratings. When they were asked why this happened and how can the problem be solved, WikiFX managers replied:

Very interesting. So, to remove bad reviews and increase an overall rating on WikiFX, we need to pay money. Do you want to know how much brokers need to pay monthly to get positive feedback from WikiFX? Check it out:

 WikiFX Gives Low Ratings Lying That Brokers Don’t Have a License

Let’s check a different example and take a random broker from their list. Nomura Holdings is a Japanese financial titan that has been on the market for almost one hundred years. Let’s check what WikiFX tells us about them:

The thing that catches attention first is that Nomura has no license. However, after a quick Google research, we can see that they do have a license. It means that WikiFX purposely cut off some points from Nomura’s rating, expecting them to pay to increase their overall score. But let’s be honest: the company with such history and name will never pay attention to miserable scammers trying to make a fortune on a famous brand.

WikiFX Carries Out Fake Investigations to Earn Money

Another example that will prove that WikiFX is a scam is a situation with an Indonesian forex broker, Finex. WikiFX published an article about their visit to Finex’s office in Indonesia. They said that Finex is not legitimate, and their office doesn’t exist in real life. However, I contacted Finex representatives, and guess what? They told me that WikiFX came to some Greek office that has never been connected with Finex, took photos of it, and wrote a fake review! And now, WikiFX gives Finex low ratings and warns users to stay away from it.

Conclusion

Overall, WikiFX is a scam review website that tries to earn on brokers by giving fake reviews, ratings and spreading false information. If brokers don’t agree on WikiFX conditions, WikiFX tries to receive money through the Internet extortion and blackmail. Please, do not believe the ratings that WikiFX creates on its website. They are all fake and are bought by those who do not mind spending money on such useless services as WikiFX. Today brokers buy a fake rating, but tomorrow they will be out of business. The day after tomorrow, they can run a new business, but no one will return the traders’ money.

20 Comments

  1. Javed Ali

    It’s a total scam. They just want to sell their packages to brokers. To write a good review about that broker. If the broker denies. They blackmail the broker. I am working with a broker and I see everyday these people call us and blackmail us. About writing a bad review.

    Reply
  2. sophia

    Complete SCAM, they are selling rank to Forex brokers. Fake rankings. If you contact to it’s sales managers, they will send you a proposal, for 10-20k USD you can buy renk. Fake.

    Reply
  3. Jason

    Wikifx are scammers who want your money, if you don’t pay them they will blackmail you and will harm your company reputation with fake reviews and low rating on their fraud website.

    Reply
  4. Amelia

    Blackmails brokers for reviews, nothing they provide is trust worthy. I even see multiple reviews for the same company with different scores that aren’t labeled as clone companies. I wouldn’t trust this website at all.

    Reply
  5. Aurora

    Wikifx is a fraud forex regulatory broker agency.It always told false news. If any company given money,Wikifx gave 10 to 10 star rating…But any brokarage company didn’t give the money,Wikifx gave 1 star. Pls don’t believe Wikifx

    Reply
  6. Jessica Wilde

    WikiFX is not a reliable or trustworthy source of information for forex traders or brokers. It is a fraudulent and unethical company that harms both consumers and businesses. It exploits the trust people place in online reviews and ratings platforms for its own gain.

    Reply
  7. Ewa Zofia

    While WikiFX frequently provides ratings and feedback on various platforms and brokers, their exact parameters for competence evaluation remain unclear. This lack of transparency makes it difficult for traders and brokers alike to understand the real value and authenticity of the reviews they publish.

    Reply
  8. Freya

    WikiFX claims to be a watchdog for Forex traders, diligently rating various companies on the basis of their regulatory licenses. However, the irony lies in the fact that WikiFX itself operates without a regulatory license. This presents a significant contradiction and raises questions about their own credibility and the authenticity of the standards they set for others.

    Reply
  9. consta nza

    There’s an old saying: “When you point one finger, there are three fingers pointing back at you.” Similarly, while WikiFX is quick to label other companies with various accusations, their own operations have been described as dubious by many in the community.

    Reply
  10. Juliarosas

    Having dealt with numerous FX Brokers, it’s evident that the reviews and ratings provided by WikiFX might not always paint the whole picture. Given their alleged practices, traders should approach their reviews with a healthy dose of skepticism.

    Reply
  11. Regina

    WikiFX has a clear strategy when it comes to broker ratings: those who pay their “Ads fee” are likely to see favorable ratings, while those who resist may find themselves on the receiving end of negative feedback. This pay-to-play model undermines the genuine evaluation of brokers.

    Reply
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  13. website

    I always used to study article in news papers but now
    as I am a user of net so from now I am using net for articles or reviews, thanks to web.

    Reply
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  15. Dorothea

    fantastic publish, very informative. I’m wondering why the other
    experts of this sector do not realize this. You should continue your writing.
    I’m sure, you’ve a huge readers’ base already!

    Reply
  16. Jessica

    It’s a total scam. They just want to sell their packages to brokers. Big scammer

    Reply
  17. Alex

    Complete SCAM, fu*k this broker agency

    Reply
  18. Alex

    Complete SCAM WikiFX broker agency

    Reply
  19. Domingo Bready

    This is often just what I used to be in search of. Thanks for supplying this kind of an extensive guidebook.

    Reply
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