Ranking List of Complaints Satisfaction in November Newly Released

Most investors, in particular beginners, are prone to ignore a broker’s service attitude when selecting a trading platform. However, the attitude towards customers will significantly affect the trading experience. Therefore, to assist investors in making an informed decision, BrokersView monthly updates the list of brokers and ranks them by complaints satisfaction. We aim to provide useful insight into how they value their clients’ opinions and the overall level of customer service they provide.

The most common complaints this month revolve around several topics, including bogus websites, chart anomalies, unjustifiable reductions in profit, and frequent changes to homepages. Below are the lists of brokers involved for reference purposes.

Wise Group has once again found itself on the Monthly Bad List, with complaints about withdrawal difficulties and unresponsive customer service.

Our research into Wise Group suggests that it is merely registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). However, please note that the SVG FSA does not regulate or issue licenses for forex trading or brokerage activities. This means that Wise Group’s offerings are unauthorized, a significant red flag indicating a lack of supervision to ensure regulatory compliance or protect customer interests.

In addition to its regulatory status, Wise Group exhibits another trait commonly found among scammers. After reviewing its website, we only got limited information about the company. The registration address is shared by numerous entities within St. Vincent and the Grenadines. There is no phone number, live chat, or social media accounts to connect with customers. Clients are left with only an email address to contact the team. This means that Wise Group holds the initiative in communication. If they choose to ignore the email, then messages will go unanswered, which is why there are numerous investors complaining about the poor performance of this platform’s customer service team.

We consistently highlight the risks of trading with forex brokers only registered with SVG FSA, as they are technically operating outside the regulatory framework. Meanwhile, many traders have learned the hard way that dealing with such brokers is very risky. It is advisable to exercise extreme caution when encountering such brokers, regardless of how seemingly attractive their offers are.

We also want to draw your attention to Saham Berjaya, a clearly fraudulent platform. Alarmingly, it has replaced its logo with that of Binance, a renowned crypto exchange, to deceive unsuspecting investors. Please steer clear of this shady broker. Always do your due diligence before investing your hard-earned money. Remember, if it sounds too good to be true, it probably is. Stay safe and invest wisely.

In addition to Wise Group and Saham Berjaya, we urge investors to avoid the following unregulated brokers: AXIA, Vlado, 51Markets, VOLO Finance, ST5, Hiltonmetafx, and Malaysia Islamic Trading. We have confirmed that these are scam brokers, and this month’s complaints attest to their fraudulent nature.

BrokersView wants to highlight the importance of staying informed about broker-related complaints which, along with regulatory information, can serve as helpful indicators when it comes to selecting a broker. Taking complaints into account helps reduce risks. In case of any suspected violations, investors can file a complaint through BrokersView. Acting as a third party to protect your rights at no cost, we will assist you in communicating with the broker or help you send emails to the regulator.

Submit a complaint via this link to BrokersView: https://www.brokersview.com/complaint