A Confession of FVP Trade's Client | Fees & Account Freezing?

WikiFX is a global forex broker regulatory query platform that works cohesively with 30 national regulators in providing verified broker-related information. Earlier this week, it was allegedly reported that this forex broker named FVP Trade was not only withholding its clients‘ funds, but also freezing its clients’ trading accounts entirely.

FVP Trade posted this notice in its clients area as it claims that they are undergoing a system upgrade and freezing clients accounts is a way to protect them from money-laundering syndicates.

Does this seem to have a comforting effect on its clients whose accounts have been frozen？ We do not think so.

Today, we will be taking a dive into a real-life case of FVP Trade that was submitted by one of its unfortunate victims who reached out to WikiFX for help.

The user first deposited approximately 3,000 USD with FVP Trade.

However, when he submitted his withdrawal request, FVP Trade told him that he had to pay for a termination fee which is about 10% of his original deposit. This fee should never be imposed in the first place.

As mentioned in our article “Traders Need Not Pay Withdrawal Tax | Storm Age Capital is Flagged” (read here: https://www.wikifx.com/en/newsdetail/202207214524918312.html ), WikiFX would like to reiterate that any forex broker that asks for a tax payment, termination fees or anything of that nature should be avoided at all costs. That is just a way for sly forex brokers to scam your money.

To date, there is still no sign of FVP Trade reactivating its clients accounts. We will be updating as we obtain more information about this case. Till then, stay tuned with WikiFX for more forex broker-related news.