WikiFX Warning: 5 Scam Brokers Exposed in October 2025

Online trading scams continue to rise in 2025, and unsuspecting traders are losing millions to fraudulent forex brokers every month. According to the latest WikiFX investigation, several brokers with low trust scores and misleading regulatory claims have been flagged this October.

If you are considering investing or opening a trading account, avoid these five scam brokers immediately. Each has a poor reputation, multiple user complaints, and serious regulatory concerns.

Five Scam Brokers of October 2025

HTFX – Offshore Broker With Misleading Regulation

WikiFX Score: 2.45/10

Founded: 2018 | Registered in: Vanuatu

HTFX presents itself as a globally regulated broker under the FCA, CySEC, and VFSC, but in reality, its offshore registration in Vanuatu exposes traders to extreme risk.

The broker offers trading in Forex, Commodities, Stocks, Indices, and Cryptocurrencies through account types like STP Standard, Cent, and ECN. Despite its seemingly professional setup, many users have complained about withdrawal delays, slippage issues, and poor customer service.

Verdict: HTFXs low WikiFX score of 2.45/10 highlights its lack of transparency and potential for fund loss. Offshore brokers often operate outside of strict regulatory oversight—making it hard for traders to recover lost funds. We also received massive complaints against this broker, which shows the risk.

MultiBank Group – Reputation Damage and Regulatory Confusion

WikiFX Score: 2.59/10

Founded: 2005 | Headquarters: California, USA

MultiBank Group is one of the most controversial names in the forex industry in 2025. Although it claims to have global offices in China, Malaysia, and the Philippines, numerous reports suggest confusing regulatory claims and withdrawal complaints.

The broker promotes trading in forex, metals, shares, commodities, and cryptocurrencies, but its WikiFX score of 2.59/10 paints a worrying picture. Traders have accused the platform of false advertising, price manipulation, and unresponsive support.

Verdict: Despite its long history, MultiBank Groups low credibility score and unresolved client issues make it a high-risk broker for traders in 2025. Besides, we have received more than 700 complaints against this broker. It is no doubt that traders need to avoid this broker.

TR – Ponzi Scheme Accusations and Fraudulent Operations

WikiFX Score: 1.56/10

Founded: China | Experience: 5–10 years

TR has emerged as one of the worst-rated brokers on WikiFX this month. Reports from multiple victims reveal that TR operates as a Ponzi scheme, promising unrealistic returns and disappearing with investors funds.

Users claim that once deposits are made, withdrawals become impossible, and the company stops responding to inquiries. TR provides no valid regulation, office address, or company background.

Verdict: With a shocking score of 1.56/10, TR is a confirmed scam broker. Traders should avoid this platform entirely and report any fraudulent activity to local financial authorities.

HERO – False ASIC License and Withdrawal Issues

WikiFX Score: 1.59/10

Founded: 2015 | Market Focus: China

HERO Capital, which entered the Chinese market in 2015, advertises itself as an ASIC-regulated broker (License No. 001296201). However, WikiFX investigations show inconsistencies in its claimed license, raising doubts about its authenticity.

The broker provides online forex trading through the MT4 platform with flexible leverage and low deposit requirements. However, traders have reported frozen accounts, spread manipulation, and unfulfilled withdrawal requests.

Verdict: Despite its professional branding, HERO Capitals trust score of 1.59/10 indicates that its operations may not be legitimate. The broker should be approached with extreme caution.

GRIC FX – Unlicensed Broker Blocking Withdrawals

WikiFX Score: 1.52/10

Founded: USA | Experience: 5–10 years

GRIC FX claims to offer professional trading services, but the truth is, it operates without any regulatory license. Many investors have accused this broker of blocking withdrawals and ignoring client communications after deposits were made.

Its extremely low WikiFX score of 1.52/10 makes GRIC FX one of the riskiest unregulated brokers of October 2025.

Verdict: GRIC FX is an unlicensed and unreliable broker. Investors should stay away to protect their funds from potential fraud.

Comparison Table – Top 5 Scam Brokers of October 2025

Key Warning Signs of Scam Forex Brokers

To protect your money, always look out for these red flags before investing with any broker:

• Low WikiFX score (below 5/10)
• Offshore registration with weak regulations
• Blocked withdrawals or delayed payments
• Unresponsive customer support
• Unrealistic profit guarantees
• Lack of verifiable company information

If any broker exhibits these warning signs, its safer to avoid them completely.

How to Trade Safely in 2025

Before opening a trading account:

1. Verify the brokers license using WikiFX or official regulator databases.
2. Read real user reviews and research any complaints.
3. Avoid offshore brokers registered in countries like Vanuatu, Saint Vincent, or Seychelles.
4. Start with small deposits to test withdrawal reliability.
5. Choose brokers regulated by top-tier authorities like FCA (UK), ASIC (Australia), or CySEC (Cyprus).

Conclusion

The five brokers, HTFX, MultiBank Group, TR, HERO, and GRIC FX, have all been exposed for untrustworthy practices and poor user experiences. Their low WikiFX scores and numerous fraud allegations make them unsafe for trading in 2025.

We remind you that reliability and regulation matter more than profit promises. Open WikiFX to verify broker legitimacy and protect yourself from financial scams.