Threat Alert: Worldtradexfx Exposing Cyber Crime, Fraud & Online Risk Threats

The ED, so far, has attached approximately Rs 38 crore worth of assets created by WorldtradexFax operations in the form of cryptocurrencies, bank balances and gold coins. It has also seized approximately Rs 100 crore of holdings in demat accounts and funds available in dummy accounts. Further, the money trail was hidden by using fake KYC and payment gateways of shell companies posing as fake e-commerce companies, with transactions being shown under the guise of online shopping, refund, vendor payment and chargeback. It was also discovered that nearly 50 per cent of user funds were diverted from the WorldtradexFX platform to mule payout accounts. These accounts were used to disburse money under the false pretence of e-commerce refunds, chargebacks, vendor payments, and so on, effectively concealing the actual flow and purpose of the funds. One of the most interesting services the broker has to offer is the WorldtradexFX Copytrading.

Although traders have had great success with WorldtradexFX, trading on the financial markets with WorldtradexFX is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. As a new client of WorldtradexFX, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with WorldtradexFX in your region. As part of our WorldtradexFX review, we review customer service options, response times and problem resolution effectiveness on the WorldtradexFX trading platform. The WorldtradexFX trading platform supports a limited number of languages which includes English. MT5 on WorldtradexFX features a massive range of tools like additional timeframes and the most up-to-date technical indicators to give you all the trading resources you need to trade on and analyze the financial markets.

WorldtradexFX MetaTrader 5 on iOS Devices

You can trade a wide variety of instruments with WorldtradexFX over 300 instruments in fact. This means WorldtradexFX are supervised by and is checked for conduct by the MISA (Mwali International Services Authority) (T ) regulatory bodies. According to the UK government’s company directory, Pavel Prozorov lives in Spain, and his company registered in the UK, by the name Worldtradex Markets UK LTD has a dissolved-company status. The searches were conducted under the Prevention of Money Laundering Act (PMLA), 2002, and resulted in the seizure of various incriminating documents and digital devices, officials said. Additionally, WorldtradexFx also employed Indian individuals working in Spain and Russia to lure more and more Indian citizens to the platform for investment.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities. Stocks, currency and other commodities and instruments will be brought or sold by WorldtradexFX even if no buyer or seller is lined up.

Email Support at WorldtradexFX

Nevertheless, the broker has fewer trading instruments than some of its competitors, especially regarding stocks. They include engaging contests where participants can win high-end gadgets, smartphones, genuine merch packs, and other lucrative prizes. WorldtradexFX also features a loyalty program, where traders can exchange their traded lots for gifts.

Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, WorldtradexFX trading losses are always limited to the current balance of funds in the trader’s account. Negative balance protection is important for traders using leverage on platforms like WorldtradexFX.

The platform often changed login URLs to conceal fraudulent activities, diverting funds to e-wallets and fictitious accounts. The probe agency also found that the URLs of payment links were masked to mislead banking and regulatory agencies about the rerouting of funds of illegal sources. Till date, the ED has attached or seized or frozen assets worth Rs 160.8 crore in the case, including properties in Spain. Further scrutiny by ED revealed that, M/s WorldtradexFx India Private Limited applied to the Bombay Stock Exchange (BSE) on February 4, 2021 to sponsor the IPL team and advertise their brand.

ED raids forex trading platform WorldtradexFx in fraud case, seizes over Rs 80 crore

The WorldtradexFX MetaTrader 5 trading platform is available on Android smartphones or tablets powered by the Android 5.0 or higher operating system. Additionally, to connect to the WorldtradexFX trading server.Take the time to understand all of the WorldtradexFX Android MetaTrader 5 features. With WorldtradexFX MetaTrader 5 for Android, you can trade various financial instruments anytime, anywhere. The WorldtradexFX MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give WorldtradexFX traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, WorldtradexFX provides traders with everything they need to succeed. The WorldtradexFX MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing WorldtradexFX traders to analyze the market at any level of complexity.

It’s essential to remember that the payment methods provided by WorldtradexFX vary based on the WorldtradexFX entity and the WorldtradexFX client’s country of residence. To view the WorldtradexFX payment options available, you can log into your WorldtradexFX member’s area. WorldtradexFX MetaTrader 5 has many advanced trading tools for more advanced users.Understanding these tools can give you a competitive edge. This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades.

Limiting Your Risk When Trading with WorldtradexFX Negative Balance Protection

All payments made to WorldtradexFX by traders are securely held in a segregated bank account. Additionally, these transactions disguised as being carried out for e-commerce websites allowed app promoters to prepare contingency plans in case users sought their money back. “From these wallets, this payment aggregator was used to route money into accounts directed by app promoters,” an ED official said.

Considering all that advanced functionality and the high rating of all apps, this may hardly be a scam broker aimed at one-time gains. The Enforcement Directorate has so far attached assets worth approximately Rs 38 crore in the form of cryptocurrencies, bank balances, and gold coins in connection with the case. A portion of these funds was layered through a web of complex transactions with the help of shell companies and remitted abroad to related entities under the pretence of bogus freight services, import of services, etc., sources said.

WorldtradexFX requires a minimum deposit of 5 GBP/USD/EUR when opening an WorldtradexFX trading account. WorldtradexFX is regulated, governed and supervised by reputable financial regulatory bodies.Regulatory bodies monitor the brokers’ behaviour, and they will take necessary action if things go Worldtradex reviews wrong. Before trading online with a broker like WorldtradexFX you should be sure they’re legitimate online agent.

With this tool, traders can copy actions of professionals to diversify their portfolios and earn an additional income. Copiers can choose master traders based on gain, number of copiers, commission, trading pairs, profit factor and order directions, as well as many other factors. The WorldtradexFx app and website are not authorised by the RBI to engage in forex trading. The probe revealed that the Indian arm of the company and its entities have defrauded investors under the guise of forex trading, thereby earning over Rs 1,000 crore from India. The ED initiated the investigation against the platform based on an FIR filed in Pune, which accuses several individuals of cheating investors by projecting false promises of high returns through the WorldtradexFx trading platform. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Is WorldtradexFX regulated?

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose. It is important to note that WorldtradexFX may request additional documents or information to verify your identity or comply with regulations.

However, if you’re looking for a broker that does offer cTrader, you can explore other options available through the provided link. You should take the security of your personal information seriously and check SSL encryption is enabled on the WorldtradexFX trading platform to protect you on PC and mobile WorldtradexFX platforms. To further enhance security, we encourage traders to always look for the https://worldtradex.live/ lock sign on their browser when using WorldtradexFX web trading platforms. Our team has endeavored to break down the complex world of trading with WorldtradexFX into easily digestible information in this WorldtradexFX review. We want to ensure you have all the knowledge necessary to use the WorldtradexFX trading tools confidently, from depositing and withdrawing funds to executing trades.

• They include engaging contests where participants can win high-end gadgets, smartphones, genuine merch packs, and other lucrative prizes.
• Throughout our comprehensive WorldtradexFX review, we have covered a lot of ground and provided an in-depth analysis of the platform’s features and functionality.
• Millions of people worldwide use Android mobile devices and tablets, and WorldtradexFX offers its clients access to the MetaTrader 4 platform on these devices.
• WorldtradexFX is powered by MetaTrader 4 and MetaTrader 5 trading platforms renowned for their security and compatibility with both desktop and mobile across all popular operating systems.

The investigation revealed that WorldtradexFX, in collaboration with M/s WorldtradexFX India Pvt Ltd, operated in India without authorisation from the Reserve Bank of India (RBI). The platform allegedly lured investors with unauthorised leveraged trading services, collecting over Rs 800 crore within a span of less than a year. Despite prior red flags from the RBI, it continued its operations in violation of Indian financial regulations. WorldtradexFX  is a legal broker that has the right to provide financial services in almost every country in the world.

• “If a user has to deposit money in accounts in Indian banks, they don’t suspect that the money could be siphoned off.
• Investigators found the system was always stacked against investors as the people running the WorldtradexFx operations fudged the transactions by using financial manipulation tactics such as frequent slippage and extending huge leverages.
• This financial tool allows one to resolve their queries related to Public Provident Fund account.
• Negative balance protection is important for traders using leverage on platforms like WorldtradexFX.
• This hands-on experience can help you gain confidence and become more comfortable with trading.
• Trading Centrals Alpha Generation Indicators can help WorldtradexFX traders better understand market trends and patterns, enabling them to make more informed trading decisions.

Investigations also found that these activities were managed by the owner of WorldtradexFx group entities based in Russia, Spain, Georgia, and Dubai. Forex trading, short for foreign exchange trading, involves buying and selling currencies with the aim of making a profit from fluctuations in exchange rates. ED has claimed that the funds so collected from Indian investors have all been remitted out of India. Meanwhile, a Russian national, acted as CEO and handled all the operations in India, managed to flee. Please note that Comparebrokers.co may have financial relationships with some of the merchants mentioned here and may be compensated if consumers choose to click the links located throughout the content on this site. Cryptoasset investing is highly volatile and unregulated in some EU countries.