WikiFX Scam Alert: Beware of Altman Finance!!!

Altman Finance is a rather enigmatic broker – on its website, the company omits any information regarding regulation, or legal documentation. It would still have you believe to be a legitimate and worthwhile trading partner, however – do not fall for it.

Regulatory Status

First let‘s search Altman Finance on WikiFX APP to see if it’s regulated. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, Altman Finance currently has no valid regulatory license, which means your funds will be in danger if you deposit! Our research showed that there is only one company bearing the name ALTMAN FINANCE INVESTMENT CO.,LTD, and it‘s registered in the UK but doesn’t have a license to sell Forex products and services.

Dealing with unregulated brokers is risky for many reasons, but the major one is that they bear no responsibility as there is no authority to monitor their activities. Also, the people running such businesses are anonymous, so you basically have no idea whom you are sending your funds to and what happens thereafter.

Complaint From Traders

Now, let us take a look at what traders of Altman Finance said about its services and credibility.These reviews can be found on WikiFX‘s Exposure page (https://exposure.wikifx.com/en/exposure/1096483545.html) wherein users can upload their honest and transparent comments without any restrictions to help with WikiFX’s investigation process.

One trader, for example, has complained that the broker does not respond for weeks to his withdrawal request.

Another trader moaned about losing 18823 USDT when trading with Altman Finance and showed his id card as well as some other screenshots as proof that the broker is a scam:

In addition to complaints made recently by the above two traders, there are also many other exposures regarding Altman Finance:

Most exposure cases posted were related with withdrawal issues. Therefore, WikiFX would like to highlight the underlying risk that Altman Finance may possess.

Other Suspicious Brokers

WikiFX has also found out the homepage of a broker named CHERRY FINANCE COMPANY LTD (https://www.cherryforexco.com/index.html) looks exactly the same as that of Altman Finance, and the official website of the latter cannot be visited any longer. It's highly likely that Altman Finance is operating with a different name trying to scam investors.

Moreover, according to official information, a broker named RUILONG INVESTMENT has the identical registered office address with Altman Finance. Investors should be cautious of this broker too!

It is always better to be cautious when trading in the forex market. Therefore, a trader must always stay alert and sensitive to the changes not just within the market action and/or market price movement, but also with their brokers performances to keep themselves safe.

For any forex broker-related enquiries, simply log on to https://www.wikifx.com/en/ or download the free WikiFX mobile application on Google Play/App Store and get all the verified and relevant broker information at your fingertips. With just a few swipes you will be able to easily review, survey and compare to determine the reliability of your chosen forex brokers.