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MTFE Blocks Withdrawals and Gives Fake Signals

Abstract:
Beginner traders frequently use forex signals to increase their success rate and enhance their trading experience. However, many need to be made aware that as much as signal trading sounds convenient and easy, it also has many underlying risks.

Search "MTFE" on WikiFX.com for more specific information about this broker.
https://www.wikifx.com/en/dealer/3517753597.html

WikiFX is a global forex regulator query platform that provides verified broker-related information and mediates disputes between brokers and their clients.

Today, WikiFX will reveal a case submitted by a client of MTFE who participated in MTFE's signal trading services but ended badly.

Read this article here for more information about MTFE: https://www.wikifx.com/en/newsdetail/202303138194434301.html

Upon checking, no information was found on MTFE's official website (www.mtfe.ca) regarding its signal trading services. However, WikiFX found several pages promoting MTFE's signal trading services on Facebook – some of these pages have up to thousands of followers.

The tricky thing is that there is no evidence to prove that these Facebook pages and signal providers are directly (or officially) associated with MTFE. It could also be possible that MTFE hired individuals to market its signal trading services separately.

In this Exposure case, the client disclosed the phone number of MTFE's representative, and we found a red flag instantly!

The client who sought help from WikiFX provided these two photos that showcase the Whatsapp profile of Askim/Miss Yi, who had been in charge of the client's case with her contact number. However, why is Miss Yi, who represents MTFE labelling herself as someone who dabbles in the apparel and clothing industry? That is a question worth pondering.

The client also shared a screenshot from a Whatsapp group chat that he participated. This was how he received trading signals alongside other followers.

Unfortunately, signal trading did not turn out the way the client imagined. He suffered a huge loss and wanted to quit trading when he realised that MTFE did not entertain his withdrawal request.

The intricate world of currency exchange can be dangerous for people with little or no prior knowledge of how forex-automated trading systems function.

It is risky for any trader to presume they are immune to this specific form of forex scam because many traders can become victims. Long-term foreign currency traders will better understand what information is reliable and what is not. Yet, those with little currency experience are the most at risk. Beginner forex traders may be more willing to take greater risks and expose themselves than more experienced traders. This is where WikiFX comes into play - to make due diligence easy for both beginner and experienced traders. All you need to do is download our free WikiFX mobile application, visit www.wikifx.com and fully utilise our search bar. Whether opening a trading account or engaging in copy-trading, or signal trading services, it is important to take note of the said broker's credibility. Always opt for a long-established, reputable broker that has withstood the test of time and is highly regulated by recognised authorities with a WikiFX Score of at least 7.0 and above.

If you would like to seek help or guidance from WikiFX, please feel free to contact us through the mediums below: