WikiFX Scam Alert: CNMV Warns Against MeteorTrade!!!

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

First of all, let us start with the most important – the recent warning of the Spanish financial authorities against MeteorTrade issued on October 17th by the CNMV, the official regulator of the forex industry in the country. Take a look:

The CNMV has also updated its list of recommendation that will help you avoid scam websites like MeteorTrade. Traders are advised to be extremely cautious with unexpected calls or emails promoting trading or investment opportunities, the so-called welcome bonuses, which might look pretty attractive at first glance, pyramid schemes in which you will be asked to seek for other traders, and psychological techniques, where scammers will be pressuring you to make an immediate investment decision. In addition the CNMV also warns of unsolicited offers through social media channels, promises of high and risky free returns and complex financial products, which you might not necessarily understand.

In addition, the Financial Conduct Authority (FCA) in the UK has previously warned against MeteorTrade as well, claiming that the broker is clone of FCA authorized firms, “Meteor Investment Management Ltd” and “Meteor Asset Management Limited”:

If two respected financial regulatory bodies have considered the broker dangerous enough to issue a warning on it, you should definitely think twice before investing any sort of money. Such warnings prove with absolute certainty that this is a fraudulent enterprise!

WikiFX also paid a visit to the broker‘s official website to learn more. MeteorTrade says to be owned and operated by INCENDIARY GROUP LTD, a company based in Dominica – an offshore entity, which does not help with the website’s credibility.Dominica is one of the worst places to be based in. Not only is there no FX regulation in place there, but the jurisdiction is slowly becoming one of the top destinations for scammers!

Furthermore, MeteorTrade says to be offering a cutting-edge trading platform, but in reality supports just a simple web-based one, which can hardly match in functionality the industry standard MetaTrader4 or MetaTrader5.

Now let's search “MeteorTrade” 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, MeteorTrade 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 MeteorTrade. There is an official warning issued by Spains CNMV recently as well as one issued by the FCA in the UK previously, meaning that, once and for all, MeteorTrade is unlicensed and a risk to all!

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.

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!