WikiFX Scam Alert: CNMV Warns Against Allfinagroup!!!

Investors who are still trading forex at Allfinagroup had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First let us start with the most important –Allfinagroup (allfinagroup.pro) is recently blacklisted as a scam by CNMV – the financial regulator in Spain. It proves with almost complete certainty that investing with this broker will only result in you getting scammed. You may check the recent warning on the screenshot below.

It states the company has been offering its services without authorization from the Spanish regulatory body CNMV. The Spanish regulator warned investors that this broker is most probably running a dangerous scam scheme. Take such warnings seriously – financial authorities usually have very specific reasons for blacklisting brokers.

WikiFX also paid a visit to the brokers official website to learn more. Allfinagroup is based in St. Vincent and the Grenadines which makes them an offshore broker. And while not all such brokers are scammers, you should probably refrain from doing business with such companies unless you are sure that you are dealing with a branch of a reputable international brokerage. St. Vincent and the Grenadines does have a financial regulator – but that regulator has warned investors on multiple occasions that it does not supervise the activities of forex brokers and does not impose any laws in the sphere of forex trading. That is why so many scammers have set up companies in this specific country.

Allfinagroup offers access to the web-based trading platform you can see below. Such trading platforms are actually decent enough – they are easy to use which makes them a good fit for beginner traders but still provide some useful indicators and additional trading tools. However, since the number of those tools is quite limited, you will find that you would not be able to get the most satisfactory trading experience out of such a platform – compared to its competitors, MetaTrader 4 and MetaTrader 5 – this software seems quite rudimentary.

Besides, Allfinagroup does not seem to offer the most favorable trading conditions. The spread WikiFX got on the brokers platform was all but great – 3 pips on EURUSD. This means that you would have to pay $30 for every lot you trade with this broker which is not exactly great. Such a spread will quickly eat away all of your potential profits!

It is also worth pointing out that Allfinagroup offers bonuses – but as with all scam brokers, those come with strings attached. The moment your account has been credited with a bonus, all profits that were not been generated on account of your deposits will be considered non-deposited funds.

Those funds cannot be withdrawn unless you have reached a quite huge trading volume – 25 times your deposits plus the bonus. The problem with this is simple – nobody would be able to tell if certain profits were the result of your deposits or of the bonus. This is a simple trick scam brokers often use in order to prevent you from withdrawing your money too soon – so that they could have more time to convince you to deposit bigger amounts and then simply disappear with all of your money.

Now let's search “Allfinagroup” on WikiFX APP to find out more about this broker. 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.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/1047899502.html), Allfinagroup currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in Allfinagroup. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!