V5 Forex Global Scam: Philippine Traders Face Blocked Withdrawals and Account Disabling

In a recent turn of events that has left the foreign exchange (Forex) market astounded, a purported scam involving the Forex broker, V5 Forex Global, is coming to light. Following numerous complaints by traders worldwide, the suspect operations of V5 Forex Global are slowly unmasking themselves. Alarmingly, two Philippine traders have found themselves grappling with blocked withdrawals and disabled accounts.

The Case: Philippine Traders Voice Out Their Complaints

Two traders from the Philippines have raised complaints about their accounts becoming inaccessible after they sought to withdraw their funds. In reaching out to V5 Forex Global Support, they only received vague promises. The generic response stated, “Due to the surge of new V5 members, the review department is currently processing withdrawal orders, and your funds will arrive within 1-3 working days.”

This seemingly automated response is merely a temporary band-aid for traders who have already been waiting for their withdrawals for more than three days. Despite receiving notifications confirming the approval of their withdrawal requests, no funds have found their way into their bank accounts.

Trader #1 Case: https://www.wikifx.com/en/exposure/detail/202306263402105976.html

Trader #2 Case:

This distressing case is not an isolated incident. WikiFX receives daily reports of similar grievances regarding V5 Forex Global, with the number of daily complaints consistently hitting at least three. If traders were keeping tabs on the WikiFX updates on these complaints, they would undoubtedly be wary of falling into such withdrawal predicaments.

Access all the complaints here.

Also, access the “Hidden Agenda And The Person Behind The Operation” article through the link below.

V5 Forex Global Scams Exposed: Hidden Agenda And The Person Behind The Operation

Explore the exposure of V5 Forex Global's scams, learn about the mastermind, and see how WikiFX aids victims in their fight against fraudulent brokers.

Exposure 2023-06-15

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What is the truth behind V5 Forex Global Trading Signals?

Uncover the truth about V5 Forex Global Trading Signals. Known for attractive forex signals, the broker has allegations of fraud and deceptive trading tactics. Stay informed with WikiFX.

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Signs of V5 Forex Global That Point to Fraudulent Operations

Two glaring red flags are currently associated with V5 Forex Global's operations. Firstly, the broker unceremoniously changed its name from V5 Forex Global to V5 Forex Market. A regulated Forex broker cannot simply change its company name without informing its regulatory body.

Secondly, V5 Forex Global's regulatory status is ambiguous at best. The Forex broker claims to be regulated by the Cyprus Securities and Exchange Commission (31000231951552), US Financial Services Commission (FSC) (license number: 31000231951552), and US National Futures Association (NFA)(NFA ID: 0554281).

However, investigations into their claimed regulatory status yielded no results on the official websites of any of these regulatory bodies.

NFA RESULT

FCA RESULT

Increasing Awareness: A Necessary Step

In this climate of uncertainty and fraudulent operations, staying informed and vigilant is critical for all traders. Awareness of scams such as this one involving V5 Forex Global is crucial to safeguard one's hard-earned funds.

The Role of WikiFX in Supporting Victims

WikiFX, as a platform that provides information about Forex brokers, has been crucial in bringing this issue to light. Their role in collecting and disseminating information has alerted traders to the potential risks associated with V5 Forex Global.

Conclusion

As the Forex market continues to grow, so do the challenges that come with it. Traders need to stay informed and vigilant, and platforms like WikiFX are pivotal in ensuring this. Amidst this, the alleged scam involving V5 Forex Global serves as a harsh reminder of the potential perils in the Forex market.

To keep abreast of updates and developments in the Forex market, download the WikiFX App on your smartphone. Get the App here: Download WikiFX App.