WikiFX Review: why you must be alert to SR Trade Forex

To make things straight from the very beginning, on our next screenshot you may check the recent warningissued on September 16th against SR Trade Forex(srtradeforex.com) by the Financial Conduct Authority (FCA) in the UK. The FCA, one of the best financial regulatory bodies in the world, has found reasons to distrust this broker and has issued a warning on it – something that can definitely damage the reputation of even the best of brokers. Take a look (source: https://www.fca.org.uk/news/warnings/sr-trade-forex):

According to the FCA, SR Trade Forex is not authorized to offer financial services in the UK. In fact, the FCA has stated that this is not a licensed broker and therefore you would not be entitled to any protections. Such warnings prove with almost absolute certainty that a company is running some sort of scam – so refrain from choosing shady enterprises that have received the negative attention of reputable financial authorities like the FCA. The only way to be sure that your investment is in good hands and that you would be treated fairly and in accordance with all laws would be to turn to a licensed, legitimate broker.

Furthermore, the Italian regulator CONSOB has also warned against SR Trade Forex lately:

In addition, WikiFX made an attempt to visit the broker‘s official website to find out more information, but in vain - the website is not accessible any longer. SR Trade Forex might have gone bankrupt and have run away with investors’ money!

Now let's search “SR Trade Forex” 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, SR Trade Forex currently has no valid regulatory license and the score is rather negative - only 1.01/10! 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.

In conclusion, trusting a broker like SR Trade Forex is simply not worth it – you will certainly end up robbed. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.

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.

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!