Heavy Complaints About OlympusFx for Malaysian Investor’s “Deadly Order”

Investor: James (Malaysian user)

Exposed broker: OlympusFx

Complaint: malicious forced liquidation

Investor James recalled that he firstly learned Olympusfxwas at the beginning of 2019. At that time, his friend introduced a trader named Dato Steven to him. Soon later, they got acquainted with each other. The trader then shared with him a profitable project and the platform OlympusFx, through which a monthly margin of 5% - 15% was guaranteed.

Stimulated by high profits, James deposited to the company account provided by Dato Steven. The initial continuous profit gave James a taste of blood. He was ecstatic about it. After that, Dato Steven beguiled him into leveraging the investment and inviting new users.

In February 2020, the critical moment when James and other participants wanted to withdraw from their OlympusFx account because of the desperately need in money, Dato Steven pretended to be sick for two weeks stalling over the reply. Everyone waited anxiously but never expected that the trader had taken the opportunity to manipulate their accounts and placed a GBP/USD order.

GBP/USD experienced a negative slippage of over 100 pips

“The order is deadly! In just a few days, he suddenly experienced a negative slippage of over 100 pips. We suffered from substantial losses and even owed money to the platform”, James told WikiFX. The outrageous slippage cannot convince them of the situation, finally they realized that it was a scam. “Later I heard from an insider that the platform plays a money game. That is no deposit, no withdrawal. Users can't make money from the accounts as the platform can manipulate the data.” It taught James the painful lesson that OlympusFx is an unregulated broker.

According to the latest data from the WikiFX APP, OlympusFX only scores 1.64 and has received up to 10 complaints in the past year. The broker is registered in Saint Vincent and the Grenadines under no effective regulation currently. In view of the great risk, please stay away from it!

OlympusFX only scored 1.64 and received 10 complaints in the last year on the WikiFX APP

WikiFXs gentle reminder: If any trouble occurs, such as being unable to withdraw funds or being scammed in investment, please save your evidence by screenshot and contact WikiFX directly to complain and expose it. So far, WikiFX App has included profiles of more than 24,000 forex brokers around the world, while integrating broker information query, exposure, news feed and other functions, and protecting investors fund safety in forex trading. Stay tuned for more exposure!