Is 8xTrade Safe? Uncovering the Risks for Forex Traders
Before you login to 8xTrade, read our in-depth 8xTrade review. Understand the critical risks of this unregulated 8xTrade broker and protect your Forex investments. Learn more now!
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Abstract:Tax payments, remittance fees, withdrawal processing fees…These are some common excuses used by fraudulent forex brokers to hinder the withdrawal process or to get additional money from their trading clients who are about to reduce their stakes.

Oftentimes, trading clients thought that once they have made these payments, their withdrawal could be approved promptly and funds will be quickly credited into their accounts. However, in reality, this is further from the truth. Fraudulent forex brokers will do their best to reduce withdrawals, especially pyramid scheme brokers because that will increase the underlying risk of going bust for themselves should there be too much of a cash outflow.
Wintersnow Ltd has been under the radar of WikiFX recently as trading clients find their funds stuck.

Today, we are unveiling an Exposure case submitted by Robin from Arab.

Robin was asked to pay lawyer fees of approximately 2,000 USD upon his withdrawal request.

Initially, he agreed to pay for the fees after he had received the funds from Wintersnow Ltd. However, Wintersnow Ltd imposed a time limit for him to complete the payment. Feeling forced, Robin realized that Wintersnow Ltd was acting sketchy and this could be a trap that he had fallen right into.

Later on, Wintersnow Ltd cut off all communication with Robin. They read his messages on Whatsapp but refused to reply.

Robin currently has about 38,000 USD in his Wintersnow Ltd while WikiFX is actively investigating these submitted cases.

Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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