WikiFX Review: Is it OK to conduct business with “BIG UNCLE”?
Abstract：BIG UNCLE is an online forex broker offering a couple of financial instruments to its clients across the globe. But recently we received a lot of complaints related to this broker. And we wonder to know if BIG UNCLE is trustworthy. Therefore, WikiFX made a comprehensive review of this broker to give you a better understanding of the truth.
If you want to know whether BIG UNCLE is a reliable forex broker or not, please continue to read.
In this article
WikiFX provides inquiry services in the forex field.
WikiFX evaluates the reliability of BIG UNCLE based on the facts.
What is WikiFX？
| 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. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en) |
To explore whether BIG UNCLE is a scammer or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.
Table of Contents
1. Evaluate the reliability of BIG UNCLE based on its general information and regulatory status.
A. General Information of BIG UNCLE
B. Regulatory Status
2. Exposure related to BIG UNCLE on WikiFX
3. Special survey about BIG UNCLE from WikiFX
A. Scoring Criteria
B. WikiFX Alert
4. Conclusion
1. Evaluate the reliability of BIG UNCLE based on its general information and regulatory status
To understand BIG UNCLE better, we explore BIG UNCLE by analyzing three main perspectives:
A. General Info of BIG UNCLE
B. Regulatory Status
C. Fund Security
A. General Info of BIG UNCLE
BIG UNCLEs general info has been shown below:
(source: WikiFX)
About BIG UNCLE
BIG UNCLE is an online forex broker. It is rooted in China. We dont have much information about this broker since we cannot open its website.
B. Regulatory Status
What is a Legitimate License？
l The legitimate license is the business license issued by the financial regulatory institution of each country/region.
l Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.
l Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.
l The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.
Regulation: Is BIG UNCLE legit？
According to WikiFX, BIG UNCLE does not hold a legitimate license. Therefore, BIG UNCLE is an unregulated broker. Investing in unregulated is extremely risky as no one can hold them accountable.
2. Exposure related to BIG UNCLE on WikiFX
On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.
As of July 14, 2022, WikiFX has received up to 8 complaints against this broker from the victims. Below are some of them that we want to show you.
This trader from Thailand told WikiFX that he cannot withdraw money from his account.
This trader from the United States complains that BIG UNCLE is a part of the euro/worldwide scamming network. He cannot withdraw as this broker tried to suspend his account. In addition, he did not receive responses from this broker.
The trader from India claimed that he cannot withdraw money, even worse, BIG UNCLE put forward unreasonable demands.
3. Special survey about BIG UNCLE from WikiFX
A. Scoring Criteria
WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.
| The Scoring Criteria of Brokers on WikiFX |
| License index: reliability and value of licenses |
| Regulatory index: license regulatory strength |
| Business index: enterprise stability and operational capability |
| Software index: trading platform, instruments, etc |
| Risk Management index: the degree of asset security |
BIG UNCLE has been given by WikiFX a very low rating of 1.17/10.
(source: WikiFX)
B. WikiFX Alerts
(Source: WikiFX)
4. Conclusion:
It is no doubt that BIG UNCLE is a scam, we advise you to avoid investing in this broker since you dont want to lose everything to the last penny. Those complaints about this broker on WikiFX are direct evidence to show how reliable BIG UNCLE is. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.
Click on BIG UNCLE' WikiFX page for details
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