Home -
Exposure -
Main body -

WikiFX Express

Exness
XM
EC Markets
TMGM
FXTM
FOREX.com
AVATRADE
IC Markets Global
FXCM
STARTRADER

WEBX TRADER: A Deceptive Broker Leaves Trader Stranded with $235,000 Loss

WikiFX | 2024-08-12 16:12

Abstract:A young trader from India has fallen victim to the deceitful practices of the broker WEBX TRADER. The victim, Daraman, aged 27, trusted the broker with a significant investment of $30,000, only to be left in a devastating situation where his attempts to withdraw his substantial profits were met with silence.

img_v3_02dm_63662cb2-209c-4761-b75b-21c314b6752g.jpg

A young trader from India has fallen victim to the deceitful practices of the broker WEBX TRADER. The victim, Daraman, aged 27, trusted the broker with a significant investment of $30,000, only to be left in a devastating situation where his attempts to withdraw his substantial profits were met with silence.

The Case

Daraman's ordeal began when a friend convinced him to start trading with WEBX TRADER. Like many others who venture into the forex market, he was drawn by the potential for financial gain. Initially, everything seemed promising—after depositing $30,000, Daraman made a few trades and decided to test the withdrawal process by requesting $1,000. To his relief, the withdrawal was successful, reinforcing his belief that he had found a trustworthy broker.

Encouraged by this initial experience, Daraman continued trading without making any further withdrawals. His trading journey was seemingly successful, with his account balance growing to an impressive $235,000. However, when he finally attempted to withdraw his profits, the situation took a dark turn. Despite repeated efforts to contact the brokers customer service, Daraman was met with excuses and delays. He was told that his account manager was unavailable, and soon after, the broker cut off all communication with him.

image.png
image.png
image.png
image.png
image.png

Desperate for help, Daraman reached out to WikiFX, a platform dedicated to exposing fraudulent brokers and protecting the legitimate rights and interests of forex traders. WikiFX took up his case, exposing WEBX TRADER's fraudulent activities to the public to serve as a stark warning to other traders.

WikiFX's primary concern has always been the protection of traders, and this case is no exception. The platform urges all traders to be vigilant and to thoroughly research any broker before investing their hard-earned money. What happened to Daraman could happen to anyone, and it serves as a powerful reminder of the potential dangers lurking in the forex market.

image.png

A Call for Vigilance

This case highlights the importance of due diligence when selecting a broker. Traders must be wary of brokers that seem too good to be true, as these often turn out to be traps designed to exploit their trust and investments. It's crucial to verify a broker's regulatory status, customer reviews, and overall reputation before committing any funds.

In conclusion, the tragic case of Daraman is a stark reminder to all traders to stay vigilant and to never place blind trust in any broker, regardless of initial positive experiences. As the forex market continues to grow, so too do the risks.

img_v3_02dj_6b7ddf2f-dce8-4504-87c1-642255897cbg.jpg
Forex tradingForex BrokerForex Analysis

Related broker

No Regulation
WEBX TRADER
Company name:webx solution (SV) Ltd and WEBX SOLUTION ltd
Score
1.45
Website:http://www.webxtrader.com/
2-5 years | Suspicious Regulatory License | Self-developed | Suspicious biz area
Score
1.45

Read more

MH Markets Commission Fees and Spreads Analysis: A Data-Driven Breakdown for Traders

For any experienced trader, the long-term viability of a brokerage partner hinges on a delicate balance of trust, execution quality, and, critically, cost. Trading fees, both direct and indirect, can significantly erode profitability over time. This makes a granular understanding of a broker's cost structure not just beneficial, but essential. This in-depth analysis focuses on MH Markets, breaking down its commission fees, spreads, and other associated costs to provide a clear, data-driven perspective for traders evaluating this broker for their long-term strategies. Drawing primarily on verified data from the global broker inquiry platform WikiFX, alongside other public information, we will dissect the MH Markets spreads commissions cost structure. We aim to move beyond marketing claims and uncover the practical, real-world costs of trading with this broker, helping you determine if its pricing model aligns with your trading style and financial goals.

Original 2025-11-26 18:07

Is Tio Markets Legit? Detailed Review with Real User Complaints

So, we will begin this Tio Markets review with the key topic—its regulation and the authorities it is licensed under. After that, we will walk you through the real user complaints we found during our research.

Original 2025-11-26 17:55

S.A.M. Trade Under Scrutiny: Withdrawal Denials, Questionable Spreads & Complaints from Traders

Did you find MT4 platform glitches while trading via S.A.M. Trade? Did these glitches disallow you from withdrawing your funds or making an internal transfer? Finding profit on the S.A.M. Trade login, but cannot access it for weeks? Did you fail to withdraw because the authorities found the broker suspicious during their investigation? Have you faced increased trading costs due to manipulated spreads? Many traders have expressed similar concerns while sharing the broker’s review online. In this article, we have decoded S.A.M. Trade reviews. Take a look!

Original 2025-11-26 17:49

Voices of the Golden Insight Award Jury | Kazuaki Takabatake, CCO of Titan FX

WikiFX Golden Insight Award uniting industry forces to build a safe and healthy forex ecosystem, driving industry innovation and sustainable development, launches a new feature series — “Voices of the Golden Insight Awards Jury.” Through in-depth conversations with distinguished judges, this series explores the evolving landscape of the forex industry and the shared mission to promote innovation, ethics, and sustainability.

Original 2025-11-26 14:40

WikiFX Express

Exness
XM
EC Markets
TMGM
FXTM
FOREX.com
AVATRADE
IC Markets Global
FXCM
STARTRADER

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
AVATRADE

AVATRADE

Regulated
STARTRADER

STARTRADER

Regulated
IC Markets Global

IC Markets Global

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
AVATRADE

AVATRADE

Regulated
STARTRADER

STARTRADER

Regulated
IC Markets Global

IC Markets Global

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
AVATRADE

AVATRADE

Regulated
STARTRADER

STARTRADER

Regulated
IC Markets Global

IC Markets Global

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
AVATRADE

AVATRADE

Regulated
STARTRADER

STARTRADER

Regulated
IC Markets Global

IC Markets Global

Regulated

Latest News

GCash Rolls Out Virtual US Account to Cut Forex Fees for Filipinos

WikiFX
2025-11-25 16:36

WikiFX's New Evaluation of ATM Capital LTD: Does its License Protect the Arab Investor?

WikiFX
2025-11-24 11:29

How a Fake Moomoo Ad Led to the “New Dream Voyage 5” Scam

WikiFX
2025-11-24 15:50

Is Axi Legit? A Data-Driven Analysis of Its Regulatory Standing and Trader Feedback

WikiFX
2025-11-24 15:53

Trive Investigation: High Score, Hidden Risk - The Profit Paradox

WikiFX
2025-11-24 17:30

In-Depth Uniglobe Markets Commission Fees and Spreads Analysis – What Traders Should Really Know

WikiFX
2025-11-24 18:44

FXPesa Review: Are Traders Facing High Slippage, Fund Losses & Withdrawal Denials?

WikiFX
2025-11-24 18:22

CMC Markets Australia Revenue Surges 34%, But High-Net-Worth Clients Face Tax Phishing Threat

WikiFX
2025-11-25 00:47

The 350 Per Cent Promise That Cost Her RM604,000

WikiFX
2025-11-25 14:41

INZO Commission Fees and Spreads Breakdown: A 2025 Data-Driven Analysis for Traders

WikiFX
2025-11-25 18:40

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Vetrade Funds

Vetrade Funds

Secure Folios

Secure Folios

BLOSSUM FINANCE

BLOSSUM FINANCE

TRUST CLIMB HOLDINGS

TRUST CLIMB HOLDINGS

Western Strategy Investment Limited

Western Strategy Investment Limited

NOVA MARKETS

NOVA MARKETS

ASSET EDGE

ASSET EDGE

OKX

OKX

ALPHA PRO COINBOT

ALPHA PRO COINBOT

Nex Pip Vault

Nex Pip Vault