Kyle Lim - Seedly
 
Kyle Lim

Kyle Lim's profile is not filled up yet.

Kyle Lim

About

Kyle Lim's profile is not filled up yet.

Credentials

Kyle Lim's credentials are not filled up yet.

Kyle Lim

  • Answers (6)
  • Questions (0)
  • Reviews (0)

Bonds

STI ETF

Investments

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 01 Aug 2019
Some advice about a Malaysian forex broker According to the regulatory information from LFSA(Labuna Financial Services Authority), the licensed office of MXC Group in Malaysia is at Unit Level 14 (B) & 14 (C), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan F.T. Recently, WikiFX team visited the forex broker in Malaysia. We saw a beautiful lobby as we arrived at the Financial Park Labuan Complex. But we couldn’t find MXC Group when we reached level 14, as 14(B)&(C) which was supposed to be the broker’s office turned out to Regus Management instead. The company staff told us that although MXC Group registered with this address, the broker’s office wasn’t here, nor did its employees work in the building.

Investments

Coffee Meets Investing

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 31 Jul 2019
The Splendid Wiki Finance EXPO HCMC Is Coming Up in 54 Days WikiEXPO is coming to Ho Chi Minh City in 54 days Over 30 forex exhibitors Inspiring discussion forums Latest fin-tech achievements and more On September 21st, 2019, Wiki Finance EXPO will come to Ho Chi Minh City(HCMC), Vietnam for the first time and present the guests a long-expected forex feast. !(file:///C:UsersAdministratorAppDataLocalTempksohtml432wps23.png) Vietnam is the fastest growing Southeast Asian country in economy, which expects to see a big financial market totaling 7.8 billion USD by 2020 and consisting of forex and financial organizations of different types and sizes. And as Vietnam’s economic centre, Ho Chi Minh City(HCMC) is attracting more forex investors and brokers worldwide with its booming financial industry. !(file:///C:UsersAdministratorAppDataLocalTempksohtml432wps24.png) At a venue covering 1,000 square meters, the EXPO will welcome over 30 forex exhibitors and diamond sponsors, including samtrade, NatureForex, FXPRIMUS, Horseforex, TLC and MUST HK LTD. Some of the exhibitors will give keynote speeches, offering exclusive forex insights and a glimpse of cutting edge financial technology.
Answer image preview

Investments

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 30 Jul 2019
Some advice on choosing a reliable broker AAAFx Postponed Investor’s Withdrawal for over 6 Months Broker: AAAFx Regulatory status: not regulated Complainant: Ms. Ding Cause of complaint: heavy loss and withdrawal failure On the appealing forex market, both high rated and low rated brokers compete for a share of the pie. To increase their market share, the low rated brokers try their best to attract more investors with misleading advertisements such as offering so-called “bonus” or “low deposit threshold at US$ 5”. Therefore, it is crucial for investors to choose a reliable broker. Recently, Ms. Ding told WikiFX about how she was defrauded by AAAFx, an unreliable and illegal forex broker. Event recap In mid-September of 2018, Ms. Ding, drawn by the so-called “high bonus”, opened an account at forex platform FORMAX and began trading. As she seldom made any profits at first, Ms. Ding only applied for one withdrawal in late October. Later, things started to go wrong at FORMAX, as the broker first took back the bonuses it had given out and then transferred all clients’ assets to the platform AAAFx without their permissions. After that, Ms. Ding asked the customer service about her withdrawal issue via social media messages and emails, but she either got auto-replies that the broker “will respond in a few minutes”, or prevarications and excuses of the customer service. Over 6 months after her first inquiry about the withdrawal, she still didn’t get her money. Case analysis Investors can draw the following two lessons from Ms. Ding’s case: 1. The “bonus” pitfall In recent years, the booming forex market more brokers attracted various forex brokers. The compliant brokers can easily carve out a niche on the market, while the illegal brokers seem to rely mainly on false advertisements to increase their market share, and “bonus” is a typical slogan of such misleading campaigns. Therefore please be especially careful when you see “risk-free high profits” or “great bonuses” in broker’s advertisement. Always check its compliance and other information, in order to avoid potential risks. 2. From Ms. Ding’s experience of withdrawal failure after her deposits was transferred to AAAFx, WikiFX reminds investors that if you find the irregularities of brokers, such as delaying withdrawal, stop trading immediately and seek media assistance to expose them by sharing your experience. This can, to some extent, increase investors’ chance of receiving the money withdrawn and reduce their loss for some illegal brokers may be forced to process investors’ withdrawal under the pressure of media exposure. Conclusion The case involved two brokers, FORMAX and AAAFx. 1. According to the WikiFX App, illegal forex broker FORMAX has escaped with expired regulation, and the broker has also been exposed in WikiFX’s previous article. 2. AAAFx currently has no valid regulatory status, with a poor WikiFX rating of 1.93. The broker has received heavy complaints recently and shows low credibility, while its relation with FORMAX is still unclear. WikiFX reminds investors to stay away from the two brokers and keep in mind to verify broker’s compliance before making investment.

Investments

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 26 Jul 2019
Unlicensed TF GLOBL Blocked Investor’s Withdrawal Broker: TF GLOBL Regulatory status: unregulated Complainant: Mr. Lv Cause of complaint: withdrawal failure The lucrative forex market has drawn a growing number of brokers to this industry, yet it’s not easy to become a forex broker because the regulatory license is usually difficult and costly to obtain. Statistic shows that 90% of forex brokers started out without a proper license. Unlicensed brokers have no protection for investors’ assets, so choosing such brokers suggests high risks in investment. Recently, Mr. Lv reported unlicensed forex broker TF GLOBL to WikiFX and shared his experience of being defrauded. Event recap In early June, Mr. Lv opened an account and deposited at TF GLOBL after seeing its advertisement online, making some profits at first with his trading strategies. He was able to deposit normally and received the money withdrawn twice. Therefore, he continued depositing and trading on the platform. On July 3rd, he again applied to withdraw and the system showed his application had been approved. But unlike the previous applications, he didn’t receive the money this time, while the customer service didn’t offer much helpful information when Mr. Lv contacted them. Later Mr. Lv made more inquires about the matter near the deadline of refund, but received no reply from the customer service. Till now, Mr. Lv still has balance yet unavailable to be withdrawn. WikiFX: Be careful about online advertisements and risky brokers without proper licence. As per Mr. Lv’s case, Investors should watch our for online advertisements and unlicensed brokers. 1. With the rapid development of the internet, online advertisements enable more brokers to promote themselves and expand their market shares. WikiFX’s monthly list of largest ad-spending brokers shows that besides many credible high-rating brokers, illegal brokers are also spending much on marketing. Although the forex market environment is improving overall, some illegal brokers are still trying to attract investors by stepping up their marketing efforts. So investors should never take the words of brokers’ online advertisements completely without doing your own research about their credibility. Failed to fully inspect the broker by checking various sources, Mr. Lv was fooled by the misleading advertisement of TF GLOBL and fell into its trap. 2. Unlicensed brokers are unable to provide even the basic protection for investor’s assets, not to mention offering satisfactory trading experience. TF GLOBL currently has no valid regulatory status, nor does it hold license from any authorities. The unreliable broker was rated at 1.12 only on the WikiFX App, and investors should definitely avoid choosing such unlicensed brokers as they bear high risks. Conclusion The mix of credible and illegal brokers on the forex market requires investors to carefully verify the accuracy of brokers’ information through multiple channels. WikiFX strives to help investors obtain reliable and comprehensive information of brokers. More information about them is available on the WikiFX App or website.

Investments

General

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 25 Jul 2019
Illegal Forex Broker MAREX Defrauded Investor and Escaped As the financial market with the most frequent transactions, forex market has been the first choice of global investors due to its high efficiency, flexibility and liquidity. However, many illegal brokers also lurk around this lucrative market like vipers and attack unwary investors. The following story is shared by Ms. Zeng, an investor who sought WikiFX’s help after being defrauded by forex broker MAREX. She reported the illegal broker to warn other investors against it. Complainant: Ms. Zeng Broker: MAREX Broker’s website: www.marexforex.com Time of deposit: June 14th, 17th and 18th Account balance: US$15,000 Withdrawal status: pending Customer service: out of reach Website status: unavailable Event recap I got to know Meng Qiuchen through a friend on Wechat. This self-claimed “stock-trading expert” approached me and offered to give me investment tips, and I was persuaded to friend her on QQ. At first, she enthusiastically taught me the basics of stock market and would recommend some prospective stocks occasionally. Later she told me that the stock market is highly volatile recently while the forex market is very lucrative, so I took her advice, opened an account at MAREX and made several deposits. But to my frustration, the customer dodged my request when I applied to withdraw and soon blacklisted me. The “expert” Meng also seemed to “disappear”, while my deposit in the account remain unavailable with my withdrawal application pending. Later I learned that my friend who allowed Meng to advertise on his WeChat Moments didn’t know the person at all. Case analysis In Ms. Zeng’s story, it’s clear how the sly MAREX lured her into its sophisticated traps. First, it sent the “investment expert” Meng to hunt for potential victims by showing success investment records on social media and offering investors free trading tips and stock recommendation. When Ms. Zeng took the bait and eventually became friends with Meng, the latter again manipulated her by offering misleading market trends and investment suggestions, winning Ms. Zeng’s trust and successfully coaxed her into making deposit at MAREX. The unscrupulous broker then swallowed up investor’s deposit with its vicious traps and escaped, leaving her in heavy loss. Case Summary With the proliferation of internet users and smart phones, illegal brokers also see more opportunities for their concealed and more sophisticated traps. Investors need to beware of the dangerous broker MAREX and draw the following lessons from Ms. Zeng’s experience: 1 As is always said, there’s no such thing as a free lunch, and the excessive, somewhat unjustified kindness from so-called “experts” only intended to make investors drop their guard and fall into carefully-devised traps. Investors need to carefully choose investment type that suits their own conditions. 2 “100% profit guaranteed” is unrealistic, as the forex market is highly volatile and chance of profit always accompanies with risk of loss. Such claims of “high return”, “100% profit guaranteed” and “zero risk” are simply misleading advertisement that brokers fool investors with. So investors need to keep rational and avoid being tempted by such “high profits”. 3 the self-claimed stock/forex experts on social media such as WeChat and QQ are in fact swindlers who trick inexperienced investors with their shallow knowledge in this field. Investors need to stay alert to these so-called “experts” and keep away from the brokers they recommend, as these are likely illegal brokers using white-label software and having tremendous risks. Conclusion WikiFX summarizes the scams of MAREX in 4 stages: First, approaches investor with the excuse of “stock recommendation”; next, persuades investor to open account and trade forex; then, manipulates at backstage and causes investor great loss; finally, blacklists the investor and escapes. Currently, MAREX trading platform is unavailable to access and their customer service is out of contact, which leaves investor unable to withdraw. If you wish to learn more about how to chose a reliable broker, avoid the pitfalls of illegal brokers and defend your rights against broker scams, or you are interest in other reports on illegal brokers, please check WikiFX’s official website at www.wikifx.com. To report illegal broker, please contact WikiFX at [email protected] We strive to make a safer and greener investment environment by disclosing the illegal brokers that you reported.

Investments

Trading

Forex (FX)

Kyle Lim
Kyle Lim
Level 3. Wonderkid
Answered on 25 Jul 2019
Forex Broker Finex Had Moved Without Updating Address Forex broker: Finex (Indonesia) Date visited: July 8th, 2019 Conclusion: the broker had moved The field survey According to the regulatory information of Finex, WikiFX team visited its licensed office, an Indonesia forex broker, located at The Plaza Tower Lantai. 38 JL. M.H Thamrin Kav. 28-30 Jakarta. WikiFX team arrived at The Plaza Tower Lantai, and found Finex’s office closed. Staff from the neighboring company told us that Finex had moved away, but the broker didn’t update its regulatory information about new address. !(file:///C:UsersAdministratorAppDataLocalTempksohtml6152wps1.png) !(file:///C:UsersAdministratorAppDataLocalTempksohtml6152wps2.png) Analysis Forex trading has been thriving in Southeast Asia in recent years, and Indonesia’s large population and growth potential enable it to stand out on the region’s booming forex market. Meanwhile, the increasing forex brokers in the country are witnessing the competence of Indonesian regulatory authorities, who have yet been fully prepared. Finex is an Indonesian forex broker established in 2012 that focuses on retail forex brokerage business. Though its website claims Finex performs well in processing customers’ orders and offers clients fair and reliable trading experience, Finex is in relatively slack regulation of Indonesian Commodity Futures Trading Controlling Board(BAPPIBTI), with a forex license issued within a year. In addition, customer feedback also indicates the company’s business strength and risk control are less satisfactory. Meanwhile, WikiFX didn’t find Finex’s office as the regulatory information suggested, which further confirms the company’s low credibility and Indonesia’s weak forex regulation. WikiFX reminder According to the WikiFX App, Finex, with a WikiFX rating of 2.92, holds retail forex brokerage license issued by BAPPIBTI within a year. The company’s credibility remains in question due to the problems in license, business strength and other aspects, such as possibility of operating in overrun business. WikiFX reminds investors to be cautious in choosing Finex for the safety of your assets. !(file:///C:UsersAdministratorAppDataLocalTempksohtml6152wps3.png) Per investigation, Finex’s website has updated its new office location at SOHO PANCORAN TOWER SPLENDOR FL.30 UNIT 3005 Jl Letjen MT Haryono Kav 2 - 3 Tebet, South Jakarta. WikiFX team will visit Finex again at this new address and present a detail visit report.
Answer image preview
Level 3. Wonderkid
18PointsGoal 40
22 POINTS TO LEVEL UP
Browse Rewards