In the foreign exchange market, the fraud of WeTrade has attracted widespread attention in recent years. It was revealed that the platform began to collude with the black platform WetradeFX as early as 2017 to carry out a series of deceptive methods in the name of WeTrade International Limited, which obtained AR authorization and held a British FCA license, and this illegal behavior continued until 2021. What's even more shocking is that there is a two-year gap during this period, and the platform has no AR authorization license.
WeTrade's fraudulent tactics are not limited to fictitious licenses. At present, the platform claims to hold two regulatory licenses, St. Vincent's SVGFSA and Malaysia's LFSA, and pretends to be trading in accordance with laws and regulations on the official **. However, in reality, the company is behind the scenes of a registered WeTrade International Co. in the SeychellesLtd, which trades through the company's MT4 platform, which is registered in the Seychelles without regulation.
This blatant fraud is outrageous. Investors are misled, trust is abused, and WeTrade is behind the scenes with impunity and fraud violations. In fact, the platform's actions are not only an infringement on investors' property, but also a distortion and subversion of the financial market.
Investors' trades on WeTrade are often based on false regulatory information, which puts them at great risk. This false license information is a great deception to investors, resulting in their investments not being protected by proper regulation. The platform's claim that the transaction was carried out in accordance with laws and regulations is actually just an outright cover to cover up the illegal transactions behind it.
Investors need to be vigilant and take proactive actions to protect their rights and interests when there are obvious illegal activities such as WeTrade. Reporting crimes, contacting financial regulators, public warnings, and legal advice are all effective ways to deal with this type of scam. Exposing and improving these illegal acts is an important measure to protect the rights and interests of investors and maintain the health and stability of the financial market.
WeTrade's hacked platform behavior not only causes huge losses to individual investors, but also poses a threat to the stability and transparency of the entire financial market. Investors should be wary of this type of fraud and take some steps to protect themselves.
Invest with caution:Be extra cautious when choosing a forex trading platform. Check the platform's regulatory status, license information, and company background. If there are signs of ambiguity and falsehood in the regulatory information of a certain platform, you should take the initiative to stay away and avoid investing money.
Multi-party verification:Don't just trust the information provided by the platform, it is very necessary to verify it from multiple parties. Get in touch with other investors, professionals, and financial regulators for more information and advice.
Regular withdrawals:Avoid putting all your money into one platform. Withdraw a portion of your profits on a regular basis to reduce potential losses. For a legitimate trading platform, withdrawals should be convenient and timely.
Report the case with **:If you notice any unusual trading practices or suspect fraud on the platform, report it to law enforcement authorities immediately. At the same time, share your own experience through social media**, investor forums and other platforms to remind other investors to be vigilant.
Legal Aid:For investors who have been seriously harmed, consider seeking legal assistance. A professional lawyer will be able to provide you with suitable legal advice and assist you in your quest for compensation.
In financial markets, transparency and legitimacy are crucial. Exposing and stopping the fraud of black platforms such as WeTrade requires the joint efforts of investors to maintain the fairness and healthy development of the financial market through rigorous investment decisions and positive actions.
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