MEDIA

Fullerton Markets Demands WikiFX to Correct Inaccuracies Published on Its Site

Posted by Fullerton Markets on May 28, 2020 3:49:24 PM


Fullerton Markets is seeking WikiFX’s full cooperation and compliance in the amendment of multiple errors pertaining to the brokerage on the WikiFX website.

This comes following continued inaction by WikiFX although it had been issued an official Letter of Demand by Fullerton Markets specifying that false information published on its online pages be rectified within seven (7) days.

Despite given ample time to make the relevant revisions, the following errors remain on WikiFX’s site:

1) Fullerton Markets as having a ‘Suspicious Regulatory License’ and ‘Suspicious Scope of Business’:
Correction: Fullerton Markets International Limited is a legitimate brokerage firm that is registered in Saint Vincent and the Grenadines as an International Business Company. It serves an international clientele with a focus on safety of funds, speed of execution and a system of wealth creation.

2) Fullerton Markets’ New Zealand license as having been revoked:
Correction: While previously registered/headquartered in New Zealand, Fullerton Markets Limited had voluntarily deregistered itself as a New Zealand entity in 2018, as reflected on the Financial Services Providers Register page. The move to Saint Vincent and the Grenadines was a decision influenced by the need to maintain its competitive edge, in an environment that would best allow it to do so. Operating under an offshore jurisdiction ensures that Fullerton Markets continues to provide its clients with improved services and customer experience.

3) Fullerton Markets as being a suspicious clone of another company in the United Kingdom:
Correction: Fullerton Markets has no associations or business dealings with Fullerton Capital Markets Limited in the UK. Fullerton Markets remains registered in Saint Vincent and the Grenadines and is not a clone of the aforementioned entity as wrongly pointed out by WikiFX.

4) Fullerton Markets providing its clients with ‘MT4/5 White Label’ or ‘Non-MT4/5 Software’:
Correction: Fullerton Markets operates its own MT4 platform and server that are used by the thousands of traders that it currently serves. Clients easily and securely access Fullerton Markets’ trading platform via Fullerton Suite.

WikiFX has stated that a license verification fee of USD10,000 per year would apply if revisions to Fullerton Markets’ registration/license details were to be made on its site. Fullerton Markets has refused to pay this.

Said Fullerton Markets’ CEO Mario Singh: “The lack of accuracy in the information WikiFX presents and its refusal to comply with formal requests to correct published mistakes run counter to its statement that it provides ‘qualitative and quantitative assessment of the regulatory and risk level’ of listed brokers so as to ‘offer prime safety solutions for individual investors, corporations and government institutions’. Such inaccuracies undermine its integrity as a supposedly trusted platform/source of inquiry for the trading community and wrongfully diminishes the credibility of legitimate brokers, such as Fullerton Markets, in the industry.”

Read the press release in the following languages:

Bahasa Indonesia
Malay
Chinese
Thai
Vietnamese

Also featured on: Finance Magnates

About Fullerton Markets International Limited
Fullerton Markets is an award-winning broker recognised as a trailblazing force in the trading industry. Committed to delivering unparalleled safety of funds, lightning-speed execution and a reliable system of wealth creation, it offers its global clients direct access to the world’s largest financial market. It also promises price stability at competitive rates through its tier-one liquidity providers. Equipping clients with the necessary tools and knowledge, Fullerton Markets empowers traders to effectively compete in the markets.