Brokers on the forex market always strive to present their clients a perfect image, but sometimes such a flawless image may turn out to be a
lie. Recently, Mr. Liu told WikiFX about how ATRI, a deceptive illegal
broker, had rejected his withdrawal and suspended his trading account
for no reason.To get more news about
ATRI, you can visit WikiFX news official website.
This August, Mr. Liu was introduced to ATRI by an IB and started
investment on the platform. Though still young and not very experienced,
Mr. Liu still made considerable profits within a month through his keen
sense about the market trend. Yet when he applied to withdraw part of
the fund, the illegal broker‘s risk control department suspended his
account for alleged violation of platform’s restrictions, apparently not
willing to let Mr. Liu claim his investment profits.
Not only couldn‘t Mr. Liu take his profits, he wasn’t even able to
withdraw the initial deposit. After that, he contacted the broker‘s IB
agent for several times, but the latter offered no concrete solution
besides prevarications and soon stopped answering his questions
altogether. Up till now, Mr. Liu’s account remains unavailable and he
still cant withdraw his money.
After receiving Mr. Liu‘s report, WikiFX checked ARTI’s official website
and its regulatory information and found the following 2 aspects that
appeared suspicious.
Firstly, the brokers official website has both English and Chinese
versions, but we noticed that the Chinese version claims the broker has
NFA regulation, while the same information was missing from the English
version.When looking at ATRI‘s website, we noticed that it has made
great efforts to impress investors as a compliant and strong broker. The
broker claims to be a settlement member of prestigious global exchanges
such as CME(Chicago Mercantile Exchange) and NYMEX(New York Mercantile
Exchange), while boasting other highlights such as MT4 trading software
and fixed spread. Fooled by the sense of superiority created by such
false claims, inexperienced investors like Mr. Liu often end up
suffering heavy losses from the illegal broker’s trap. But the false
regulatory information reveals more about ATRIs real status than any of
its deceptive self-proclaimed advantages.
Therefore, investors need to verify and cross-check a broker‘s profile
through multiple sources to ensure it’s truly compliant and credible.
Do not rely solely on information from brokers official site or
advertisements.
Conclusion
According to WikiFX App, ATRI which is currently unregulated has been
in business for less than a year and uses white-label MT4/5 trading
software. The broker is rated at only 1.68 on WikiFX App, bearing
significant risks, and WikiFX reminds investors to stay away from it.
