Account Deleted, Funds Gone: A New Broker Tactic to Beware Of?

A trader from Iraq faced a tragic incident on LQH Markets. One fine day, they opened their account, only to find that their account had been deleted, and all funds, including the deposits as well as the profits made, had vanished.

Trader has shared screenshots of their account activity and made a complaining remark-

“My main dashboard account has been deleted completely, and they are not returning the money I deposited, along with the profit I made.”

As per the trader, they reached out to the broker several times in hopes of getting back their hard-earned amount. However, the broker chose to remain silent and offered no response or explanation for the account deletion or the refusal to release the funds.

The Downside of Trading

This incident exposes a harsh reality of trading markets and brokers: your funds are not always safe. While trading offers profit opportunities, it comes with risks beyond market fluctuations. There might be brokers in the hope of profiting from your accounts who may do such actions deliberately, like deleting your accounts, withholding funds, or vanishing entirely, leaving traders with nothing but huge holes in their pockets.

What Does WikiFX Say?

A quick check on WikiFX for LQH Markets reveals a shaky reputation with the trust score as low as 1.12 out of 10, signalling that it should never be relied upon.

Furthermore, cases like this one ring a wake-up call for all traders to be cautious of the platform or broker they depend upon while trading.

SCAMMED? Complaint on WIKIFX! Step-By-Step Guide

1. Download WikiFX or go to its website.

2. Log in.

3. Browse the home page.

4. On the right-hand, EXPOSURE appears

5. Click on EXPOSURE.

6. Go to the latest exposure.

7. Scroll to the bottom

8. At the end, you'll see the option to file your complaint.

9. There, you can search your broker if you want to file a complaint against

10. You can mention your broker

11. Add a Title related to your scam

12. Write a paragraph about your incident and provide proof

13. Click Release to complete the process

BE VIGILANT

Remember to be vigilant in the FX market because of the increasing number of scammers targeting unsuspecting traders. Fraudulent brokers, fake investment schemes, and social media “gurus” often promise unrealistic returns to lure people into scams. Always verify the legitimacy of any platform or individual before investing, and be cautious of unsolicited messages or offers that seem too good to be true. Use regulated brokers, do your research, and never share personal or financial information with unverified sources. Scammers prey on greed and inexperience, so staying alert and informed is your best defense. Protect your funds—stay smart, skeptical, and safe.

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