WikiFX Review: What You should know about Schroder!!!

Anyone who invests in the forex market has to bear some of the risk, but that is no reason for brokers to commit fraud. Recently, WikiFX received a number of exposures from users about bad dealers, all with different red flags lurking. In the following, WikiFX would like to take Schroder as an example to analyze the danger signs behind this broker.

About Schroder

Schroder is a global investment manager. It claimed to be based in the UK and acquired license by the national financial institution. To find out if a forex broker is trustworthy, check first that it is registered and authorized with a local financial institution.

We can see from the figure above that the query result is quite negative –Schroder was repeatedly warned by the Financial Conduct Authority(FCA) between November 12, 2019 and July 13, 2021.

“This is what we call clone company”, the FCA says adding that : “Schroders is a cloning company, that's a proven fact. It tried to pose as a legitimate company to carry out fake foreign exchange transactions. Scammers often use this tactic when contacting new users in an attempt to fool them. The British public should be vigilant and stay away from such brokers.”

In addition, to get a better idea of Schroder, WikiFX also paid a visit to its official website. Schroder tried to convince us that they were a professional and reliable brokerage, but it turned out to be the opposite.

Schroder claimed to be develop a set of analytical tools. However, the download link are nowhere to be found throughout the website and WikiFX could not even reach this analytical tools. Obviously, this is just a ruse by Schroder, which does not have the “perfect tool” it claims to have.

Besides, Schroder did not specify the terms of the transactions. On its website, you can't see the minimum deposit, leverage, spread and other trading conditions, nor do you know the deposit method and withdrawal conditions. Anyway, all the specific terms of the deal you want to know are not mentioned here. Apparently, there's only one reason he's doing this -- Schroder is trying to trick green hand to invest first, but it's hard to get your money out once you put it in.

Now let's search “Schroder” 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/7061882775.html）, Schroder has no valid regulatory license and the score is rather negative - only 1.45/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

In a word, it's not wise to invest Schroder. We recommend avoiding brokerage firms like Schroder and choosing a legitimate brokerage instead. 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!