WikiFX Scam Alert: Beware of ABC Group!!!

Investors who are still trading forex at ABC Group had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

Let us start with the most important – the recent warning on July 27th against Abc Group (abcfx.group) issued by the Portuguese Securities Market Commission (CMVM). You may check the warning on the screenshot below.

ABC Group was officially exposed as a scam by the Portuguese regulator CMVM, which issued a warning against the brokerage. The authority informs the public that ABC Group is not licensed to provide financial services for the public, confirming its essentially a fraudulent business. Any brokerage with a warning on its name is practically a scam, so you should avoid ABC Group at every cost!

Now let's search “ABC Group” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/3143366799.html), ABC Group currently has no valid regulatory license and the score is rather negative - only 1.25/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

WikiFX also paid a visit to the broker‘s official website to learn more. Abcfx.group is a brand of ABC Group Ltd, a company incorporated in the tax haven jurisdiction of St. Vincent and the Grenadines. SVG is one of the countries that do not license or monitor Forex brokers, meaning that ABC Group is NOT REGULATED, so it’s a risky brokerage you should avoid, and we can tell it only because of the offshore registration!

Bear in mind that St. Vincent and the Grenadines is one of those notorious offshore territories, home to scores of fish brokers and outright scammers, which attract all kind shady entities, because of the lax to non existent regulatory requirements advertised by the local authorities.

Moreover, the trading risks are high – leverage is 1:100 fixed, and WikiFX couldn‘t find a way to reduce or increase it. After all, we were testing a demo account, meaning that conditions in real trading may be different. At any rate, though, ABC Group is an officially exposed scam, so it doesn’t eventually matter what the leverage is!

Here is the platform WikiFX could access:

The funding methods are many – Credit/Debit cards, Wire Transfers, Bitcoin, Ethereum and e-wallets like SkyCrypto, Odeon, MoonPay, CexDirect, Mercuryo and others. However, some of the wallets are known to be scam facilitators, so even without official warning, WikiFX would still say there is something wrong with ABC Group!

Information about withdrawals is scarce, but the automatic bonus programme badly affects the conditions and practically makes withdrawals impossible. ABC Group has an automated bonus campaign in which it grants incentives to every new customer, with or without their consent. Simply put, as soon as you open a trading account and deposit, you get hit by the Bonus clauses.

As you can see from the screenshot below, after a bonus is given away, you will not be able to withdraw any money for a period of 1 year, which is a scam clause nonetheless! But that‘s not all, as there is also a minimum trading volume requirement – you should trade the deposit plus bonus 30 times to become eligible for withdrawal! It’s a harsh requirement that‘s hard to achieve, and it’s evident that ABC Group never planned to fulfil withdrawal requests! Beware!

In a nutshell, it's not wise to invest in ABC Group. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!