The Most Complained Brokers in November 2023!

In this article, WikiFX will reveal 5 brokers that have received the most complaints in Malaysia within November 2023! Beware users!!!

Vlado WikiFX profile: https://www.wikifx.com/en/dealer/1495842578.html

Established in 2018, Vlado has quickly gained recognition in the online trading realm, operating from its global headquarters in Dubai. It is registered in Hong Kong and specializes in various trading sectors, including Forex, CFDs, Precious Metals, Indices, Commodities, and Global Markets Access. Vlado prides itself for offering competitive trading conditions like tight spreads, low margin rates, and no commissions. Additionally, it provides a variety of account types to cater to different trading styles, ranging from micro to standard and VIP accounts.

Below is the recent complaint WikiFX regarding issue at Vlado:

Volofinance WikiFX profile: https://www.wikifx.com/en/dealer/3986401025.html

Volofinance, an online brokerage headquartered in Dubai, United Arab Emirates since 2018, offers a range of trading services, encompassing forex, cryptocurrency, and CFD trading. The platform provides access to various trading instruments such as forex, cryptocurrency, CFDs on stocks, indices, commodities, and cryptocurrencies. Despite the broker's assertion of managing funds for over 4,000 clients globally, totalling up to $100 million, WikiFX has uncovered that this company operates without any credible regulatory oversight.

Below are the recent complaints WikiFX received regarding Volofinance:

FEX Global WikiFX profile: https://www.wikifx.com/en/dealer/6951979337.html

The Financial and Energy Exchange Group (FEX Group), based in Australia, specializes in providing and operating a variety of energy, environmental, and commodity-based futures and options contracts, with a primary focus on serving the Asia-Pacific region. Some of its distinct features include a dedicated Tailored Strategy Market (TSM) portal for non-standard exchange strategies and provisions for off-market trading, catering to block trades and exchange for physicals (EFPs). However, WikiFX has uncovered that this broker lacks valid regulation.

Below are the recent complaints WikiFX received regarding FEX Global:

Aximtrade WikiFX profile: https://www.wikifx.com/en/dealer/7341492416.html

International online broker Aximtrade is a devoted Alfa Romeo F1 team sponsor. WikiFX's database shows that they have only been in business for two to five years, during which time they have accumulated more than 100,000 active customers. They allow their clients to trade forex, metals, energies, stocks, indices, and commodities using CFDs, along with perks like flexible leverage and a trading instrument selection that exceeds 100. Although Aximtrade claims to be multi-regulated, WikiFX discovered that out of 3 licenses, only one is valid.

Below are the recent complaints WikiFX received regarding issues at Aximtrade:

WikiFX highlights the significance of installing the WikiFX mobile app, readily available for free on both Google Play and the App Store. This app stands as a crucial tool, delivering the latest updates regarding brokers and market trends. Whether opting for the app or visiting our website at www.wikifx.com, users can rely on receiving timely alerts encompassing brokers worldwide, transcending the boundaries of Malaysia.

Moreover, we stress the utmost importance to all our esteemed users regarding caution when dealing with online brokers. It's imperative to click on the link provided in the respective WikiFX broker profiles to ensure access to the official and accurate website. Regrettably, instances of scammers replicating broker websites have surfaced. Safeguard against potential fraud by relying on WikiFX's authenticated links.