Weekly Scam Alert: Avoid These Brokers & Protect Your Money!

Important Update: Scam Brokers Identified This Week

If you haven‘t seen the latest warnings, now’s the time. This article highlights brokers that have been reported as fraudulent. Stay updated and secure your investments.

BROKER– SogoTrade

TITLE- SogoTrade Review 2025: Discover its Red Flags Now!

LINK- www.wikifx.com/en/newsdetail/202509124574597321.html

SUMMARY - SogoTrade shows many serious warning signs that traders should not ignore. It lacks popular trading platforms like MT4 and MT5, offers very limited investment options, and has slow withdrawal processes. Many users have reported poor customer service and have even called it a scam. WikiFX gave SogoTrade a very low credibility score of 1.89 out of 10 and warned traders to stay away, especially since the broker is unregulated. Overall, SogoTrade appears risky and unreliable for investors.

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BROKER– UProfit

TITLE- Warning: UProfit Shows 5 Serious Red Flags- Stay Away!

LINK- www.wikifx.com/en/newsdetail/202509109734446414.html

SUMMARY - Uprofit shows many serious red flags that traders should be cautious about. It lacks strict regulation from trusted authorities, does not offer popular MetaTrader platforms, and limits trading to futures only. The platform also provides no educational resources for beginners. WikiFX gave Uprofit a very low credibility score of 1.45 out of 10 and strongly warned traders to stay away. Overall, Uprofit appears risky and unreliable, so investors should avoid using this broker to protect their money.

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BROKER NAME – Darwinex

TITLE- Thinking of Trading with Darwinex? Read This First!

LINK- www.wikifx.com/en/newsdetail/202509123584550762.html

SUMMARY - While Darwinex is a regulated broker but it may not be the ideal choice for all traders. The lack of live chat support, a relatively high minimum deposit of $500, limited access to only US stocks, and the absence of Islamic accounts are notable drawbacks. Additionally, the platforms complex account structure and trading model can be confusing, especially for beginners. Traders considering Darwinex should carefully evaluate these limitations to determine whether the platform aligns with their trading needs and preferences.

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BROKER– MultiBank Group

TITLE- Exposed: 7 Hidden Risks of Trading with MultiBank Group in South Asia!

LINK- www.wikifx.com/en/newsdetail/202509098484673614.html

SUMMARY - While MultiBank Group presents itself as a global broker with an impressive range of services, a closer look reveals significant red flags that traders simply cant ignore. From shallow research tools and limited educational content to high trading costs, restricted market access, and poor customer support, the overall experience falls far short of what many other reputable brokers provide. If you're based in India or anywhere else exercise extreme caution before opening an account with MultiBank Group. The combination of regulatory concerns, unfavorable trading conditions, and negative user experiences make it a high-risk choice.

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BROKER– Bulenox

TITLE- Disadvantages of Investing with Bulenox! Must Read

LINK- www.wikifx.com/en/newsdetail/202509114844526711.html

SUMMARY - Bulenox presents several serious concerns for traders. As a new and unregulated broker, it lacks a proven track record and oversight from trusted financial authorities. The absence of MetaTrader platforms, limited trading instruments, and restricted customer support hours make it less appealing, especially for experienced traders. Users have also reported technical issues, affecting trading performance. With a very low trust score of 1.25 out of 10 on WikiFX and an official warning issued, Bulenox appears risky and unreliable. Caution is strongly advised.

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BROKER– MTrading

TITLE- Exposing: Risks of MTrading & Real Reviews from Actual Users!! Must Read

LINK- www.wikifx.com/en/newsdetail/202509104194535102.html

SUMMARY - MTrading raises several red flags that make it a risky choice for traders. It lacks regulation from trusted financial authorities and offers limited customer support, with unclear contact options. The platform is also vague about its withdrawal process and fees, which could lead to hidden charges or delays. Overly aggressive promotions and numerous user complaints about withdrawals and support further damage its credibility. Based on these findings, MTrading does not appear to be a trustworthy or reliable broker. Proceed with caution.

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