ASX Markets Regulation: Is This Forex Broker Safe?
Analysis of ASX Markets regulation and broker safety. Learn about trading risks, MT4 features, and recent user withdrawal complaints.
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WikiFX warns you about a broker called Ridge Corporation
Abstract：Ridge Corporation LLC is an online forex broker offering a series of financial instruments to its clients. Although this broker claimed to be regulated in the US, its main market is Japan. WikiFX warns you about the risk of investing in this broker.
About Ridge Corporation
Ridge Corporation LLC is an online forex broker offering a series of financial instruments to its clients. Although this broker claimed to be regulated in the US, the main market of this broker is Japan.
Ridge Corporation on WikiFX
WikiFX has given this broker a fairly low score of 1.05/10.
Is it legit？
Ridge Corporation was regulated by NFA. However, this broker exceeds the business scope regulated by United States NFA(license number: 0554216)As far as we know, Ridge Corporation is not regulated by any regulatory institution now. It is an unregulated broker and we dont think it is reliable. Besides, this broker is very young. The risk of investing in this broker is pretty high.
Exposure
Recently, WikiFX has received three complaints against this broker. The victims in these cases are all from Japan. We advise investors from Japan to be aware of this broker and understand the potential risk.
Case 1:
This victim claimed that he/she applied for withdrawal, but this broker didnt respond to him. Two weeks passed, and he/she still did not get the money back.
Case 2:
This victim claim that he/she lost 12,000 yen because of this broker.
Case 3:
This broker promises to help the victim unfreeze the frozen account as long as the victim puts in the deposit. However, after the victim pays the deposit, all the funds in the account of the victim cannot be withdrawn. More seriously, Ridge Corporation no longer responds to the victim.
Conclusion
WikiFX advises investors, especially investors in Japan, to keep away from this broker as it has the serious problem of withdrawal rejection. If you want more information about certain brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find your most trusted broker. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.
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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