Breaking: EnclaveFX blocked the trader’s withdrawal request and refused to give any response.

About EnclaveFX

Founded in 2018, EnclaveFX, a trading name of EnclaveFX Limited, is allegedly a broker based and registered in the UK that provides its clients with the industry-standard MetrTrader5 trading platform, leverage up to 1:500, variable spreads on over 120 tradable financial products, as well as a choice of eight different live account types and 24/5 customer support service. EnclaveFX advertises that it offers more than 120 trading instruments across a wide range of asset classes like forex, CFDs, metals, and cryptocurrencies. However, WikiFX gives this broker a low rating of 1.43/10.

One of the major reasons why this broker has such a low score is the massive complaints from the traders. Many traders told WikiFX that EnclaveFX is a scam that fraudulently took victims money away. No response, no explanation, it simply cut the communication line with the traders. This is a red flag that all investors should be aware of.

The exposure of a victim

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts. We want to use the following case as an example to help you understand the current situation of EnclaveFX.

This victim invested $4000 into this broker and end up losing all his capital and profit. Why？ Because EncalveFX rejects to let the victim withdraw. After that, the victim tried to contact EnclaveFX, yet the customer service team of this broker did not either give a message or make a response. Therefore, the victim told WikiFX and hoped to air EnclaveFXs dirty laundry to the public.

When the trader asks for withdrawal initially, EnclaveFX only says to the trader, “Your withdrawal is in process,” However, it does not provide a specific deadline, which is a serious flag that it may never return this trader's money. See below.

The victim invested $4,000 with the broker, during which time the funds in his account grew to $6,726. When he tried to withdraw it all, EnclaveFX refused to accept his withdrawal request. To make matters worse, EnclaveFX also blocked his access to the client portal and stopped responding to any of this victim's messages.

Conclusion

Based on what we see in this case, EnclaveFX is getting involved in a scam. We cannot ignore the risks. After all, what happened to this trader could happen to any of us. We must be vigilant when investing in a broker.

WikiFX is actively reaching out to the victim, hoping to find more evidence to help him resolve the problem.

WikiFX will keep track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website or download the WikiFX APP to evaluate the safety and reliability of this broker!