August Recap: 5 Most Complained Brokers in Malaysia

Wise Markets WikiFX profile: https://www.wikifx.com/en/dealer/2699104886.html

Established in 2022, WISEMARKETS is a forex and CFD broker registered in St. Vincent and the Grenadines, a jurisdiction known for its lenient regulations on forex trading. However, WISEMARKETS operates without a valid license, making it a cause for concern.

Below are the recent complaints WikiFX received regarding withdrawal issues at WISEMARKETS:

Aximtrades WikiFX profile: https://www.wikifx.com/en/dealer/7341492416.html

International online broker Aximtrade is a devoted Alfa Romeo F1 team sponsor. WikiFX's database shows that they have only been in business for two to five years, during which time they have accumulated more than 100,000 active customers. They allow their clients to trade forex, metals, energies, stocks, indices, and commodities using CFDs, along with perks like flexible leverage and a trading instrument selection that exceeds 100. Although Aximtrade claims to be multi-regulated, WikiFX discovered that out of 3 licenses, only one is valid.

Below are the recent complaints WikiFX received regarding issues at Aximtrade:

Errantes WikiFX profile: https://www.wikifx.com/en/dealer/3401799351.html

Errante is a forex and CFD broker headquartered in Seychelles, and it complies with the regulatory standards of FSA and CySEC. The broker provides leveraged trading opportunities across various assets, offers tiered account options with a zero-spread choice, and facilitates copy trading for its clients. Within its CySEC-regulated division, Errante permits leveraged trading with ratios of up to 1:30, while its offshore branch allows for leverage of up to 1:500.

Below are the recent complaints WikiFX received regarding issues at Errante:

Uniq Markets WikiFX profile: https://www.wikifx.com/en/dealer/1206046145.html

UNIQ Markets is an online broker founded in 2022 and is not regulated by any major financial regulatory authority. It offers a variety of trading instruments, including forex, cryptocurrencies, stocks, indices, and commodities. However, it is important to note that UNIQ Markets is a relatively new broker and has not been in operation for very long. As such, there is limited information available about its track record and reputation.

Below is the recent complaint WikiFX received regarding issues at UNIQ Markets:

Tylenols WikiFX profile: https://www.wikifx.com/en/dealer/3086842332.html

Established in 2022, Tylenol is a broker headquartered in Hong Kong. This firm offers a wide range of trading instruments including forex, crude oil, precious metals, and global indices. As Tylenol is operating without any valid regulation, it is red flag that should not be taken lightly.

Below are the recent complaints WikiFX received regarding issues at Tylenol:

WikiFX would want to emphasize the importance of having the WikiFX mobile application installed, which you can get for free from both Google Play and the App Store. This app will keep you informed about the latest updates on brokers and market trends. Whether you prefer using the app or visiting our website at www.wikifx.com, you can receive timely alerts concerning brokers globally, not limited to Malaysia. Additionally, we would like to remind all our valued users to exercise caution when dealing with online brokers. Always ensure you click on the link provided in the broker's respective WikiFX profiles to confirm that you are on the official and accurate website. Unfortunately, there have been instances of scammers attempting to deceive users by duplicating broker websites. Protect yourself from potential fraud by relying on the verified links available on WikiFX.