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As the world’s largest financial market, the forex market attracts the largest number of investors with many strengths such as large trading volume, high transparency, flexible leverage and relatively lower trading costs. However, forex investors often have a hard time verifying the information of brokers based overseas, or even in China, because these brokers are scattered across the world. Seeing this, WikiFX sets up the field survey team to inspect brokers on-site upon investors’ demand and presents investors more details of the broker’s situation in reality. The service allows investors to inspect a broker from all dimensions and helps them in choosing a compliant broker and avoiding traps of illegal ones.
WikiFX field-survey team will first refer to broker’s regulatory information and the broker’s official website. Next, they will visit the broker according to the address in its regulatory information and conduct an all-round inspection of the broker, including its geographical location, office environment, company size and whether its situation in reality corresponds to website and regulatory information. After the visit, the team will release a detailed survey report of the broker on WikiFX website, offering investors reliable information to draw on in later investment.
Since we launched the field survey program with our investigation team, WikiFX has visited hundreds of brokers across the world such as in Britain, Cyprus, Australia, Singapore, Malaysia and Indonesia. When the scandal of GCG Asia swept across SE Asia and stirred up the forex circle, even affecting some institutions in Australia and Switzerland, WikiFX immediately sent out the survey team to Phnom Penh after the news came to learn about more details through investigation. An in-depth survey report was then published on WikiFX website and WikiFX Journal, presenting investors a comprehensive analysis of the incident. At the middle of this year, WikiFX further enhanced the field-survey function by launching VR field survey report on both WikiFX App and PC. This upgrade allows investors to gain a more comprehensive view of a broker through an immersive way, and investors can now view the office environment of brokers such as FOREX.com and Acetop through VR.
The global economic boom has encouraged the thrive of forex market and proliferation of brokers. But despite reinforced regulation, the forex market remains a complex environment where compliant and illegal brokers co-exist and the situation is unlikely to be changed overnight. In the future, WikiFX will continue to enhance the field-survey function base on the data collected through on-site inspections, while visiting more brokers to bring investors authentic and reliable information about them. “Seeing is believing”, so WikiFX aspires to be a pair of “eyes” that help investors see brokers more clearly and achieve better investment experience.