Info Has anyone heard of Populusfx?

[Robin_hood]

Didn't get your first line of the message,
Well i have a real account with 0 balance
And a demo account of this broker.
In both accounts chart moves in same way.
How is it possible to edit after trade?

 

[Pharaoh]

Imagine for a moment that there's a pricing error that stops out your trade. Your broker acknowledges this and makes an adjustment to your trading history. MT4 and 5 permit this.

Now imagine what a bad broker could to to promoted a scam system (its own or for a scammer). Losing trades can be removed, just like they never happened. You can read more about this here:

https://www.forexpeacearmy.com/community/threads/white-label-severs-mt4-scam-real-accounts.67546/

 

[Robin_hood]

Imagine for a moment that there's a pricing error that stops out your trade. Your broker acknowledges this and makes an adjustment to your trading history. MT4 and 5 permit this.

Now imagine what a bad broker could to to promoted a scam system (its own or for a scammer). Losing trades can be removed, just like they never happened. You can read more about this here:

https://www.forexpeacearmy.com/community/threads/white-label-severs-mt4-scam-real-accounts.67546/

All i can say is if there is any scam happened with traders trading there then there must be complaints of wikifx forum or any suitable complaint webpage,
They are NFA approved but with LLc licence which is a commodity not forex apart from that i didn't find anything suspicious.
Nw say

 

[Only-pm]

What's not clear is @Robin_hood trying to open an acct with them but has no money or is he trying to make them seem like they are legit. In either case there are far too many red flags with this broker.

 

[Only-pm]

I can tell you for a fact that their numbers are manipulated like it was described by @Pharaoh and there are more red flags than described earlier

 

[Pharaoh]

All i can say is if there is any scam happened with traders trading there then there must be complaints of wikifx forum or any suitable complaint webpage,
They are NFA approved but with LLc licence which is a commodity not forex apart from that i didn't find anything suspicious.
Nw say

You are wrong on multiple items here.

1. Check the replies to WikiFx's press release at the FPA. Let's just say that the first comment from a broker rep didn't even elicit a denial from Wiki's rep.

2. Complaints elsewhere? The site is brand new. The domain was registered on August 30, 2020. Unless their plan was to go pure scam on day 1, not too much has happened (good or bad) yet. EVERY scam starts with zero complaints, so no one should ever interpret No News as equal to Must Be OK.

3. The NFA license is not for a broker. If I went and became a licensed podiatrist, it would be immoral, unethical, and highly illegal for me to use that license to lure people into clinic where I was planning to perform heart surgery.

Unfortunately, complaints to the NFA can sometimes take many months or even years to reach a ruling, so again, no news does not equal good news.

Since you have at least a demo account with this company, why don't you perform some due diligence? Contact the NFA. Point out the license vs. the services offered and ask what protection a client of those unauthorized services can expect. Post an image of their reply in this thread.

P.S. Only-pm, you could also check with the NFA and post their reaction. This way we all get to find out even if Robin_hood doesn't get around to asking them.

 

[Only-pm]

There already have been phone conversations with NFA, I will post the response once I receive it.

 

[Robin_hood]

You are wrong on multiple items here.

1. Check the replies to WikiFx's press release at the FPA. Let's just say that the first comment from a broker rep didn't even elicit a denial from Wiki's rep.

2. Complaints elsewhere? The site is brand new. The domain was registered on August 30, 2020. Unless their plan was to go pure scam on day 1, not too much has happened (good or bad) yet. EVERY scam starts with zero complaints, so no one should ever interpret No News as equal to Must Be OK.

3. The NFA license is not for a broker. If I went and became a licensed podiatrist, it would be immoral, unethical, and highly illegal for me to use that license to lure people into clinic where I was planning to perform heart surgery.

Unfortunately, complaints to the NFA can sometimes take many months or even years to reach a ruling, so again, no news does not equal good news.

Since you have at least a demo account with this company, why don't you perform some due diligence? Contact the NFA. Point out the license vs. the services offered and ask what protection a client of those unauthorized services can expect. Post an image of their reply in this thread.

P.S. Only-pm, you could also check with the NFA and post their reaction. This way we all get to find out even if Robin_hood doesn't get around to asking them.

As you always share wikifx updates and news there is a big debate over now that wikifx itself is a huge scam..they blackmail brokers that they will put negative comments about them and in return ask for a commission..moreover, how to read and check red flags of any particular broker


Since i m not from US,
I didnt find a way to contact NFA on phone.
Can you provide some information on that,
I would be very happy to u.
As i am earning there in demo account on a daily basis i m more insist and curious towards them for further proceedings but your information sounds good regarding scams all over forex industry which restricted me to not go ahead before everything is clear

 

[Robin_hood]

There already have been phone conversations with NFA, I will post the response once I receive it.

I would be happy to listen from you all truth,
Share your feedback 100%
Pros n cons

 

[Only-pm]

@Robin_hood how did you hear about this broker? You can get more info about NFA here: https://www.nfa.futures.org/