Illegal Broker Suspended Investor’s Account after Deposit Was Made

Illegal Broker Suspended Investor’s Account after Deposit Was Made



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　　Ms. Ren is an ordinary investor, she was introduced to the illegal broker NOVAK in mid-August and made a deposit of US$1,800. But unexpectedly, her account was suspended soon after she made the transaction, while the customer service of NOVAK and the IB that introduced her to it both became out of reach.
　　Whats worse, Ms. Ren was suffering from chest pain due to great anxiety and frustration the incident had inflicted on her, and she desperately needed the money back to get medical treatment. However, all her attempts to contact the broker turned out in vain. This unscrupulous broker is truly outrageous! Right now the victim has called the police, while WikiFX team is also doing our best to help Ms. Ren recover her fund
　　From Ms. Ren‘s experience, we may notice that many illegal brokers may claim they can help you make a fortune, while in fact they are just trying to empty your pocket. We have exposed illegal broker scams in previous articles like ShengTong Defrauded Investor by Swallowing up Deposits and GPAK Has Been Investigated by the Police, and these cases often reveal rather similar tricks of such illegal brokers - basically they’re targeting investors mindset of making profits overnight and lure investors with unrealistic high profits. Many victims may not even realize they have been defrauded.
　　Per checking WikiFX App, NOVAK is rated at only 1.92 and its regulations have expired. In addition, NOVAK has 8 related white label brokers, with 4 of which unregulated, 3 under suspected-cloned license and 1 operating in overrun business. Investors should definitely stay away from them.
　　WikiFX App is a one-stop forex regulation inquiry platform where you can easily look up a brokers compliance, legitimacy, authenticity and other information. We have recorded the profiles of over 15,000 brokers, as well as information of regulation authorities from more than 30 countries and regions worldwide. Just type in the name of any broker and access its profile with a simple click.