On WikiFX, why do I see a different score from yours for the same broker?

Sometimes, when we check one broker on WikiFX. We found out that the score of this broker varies. Why is this happening？ Why does the score of one broker not certain？

About WikiFX

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.

WikiFX Score

WikiFX Score is comprehensively evaluated by WikiFX based on a variety of factors including the licensed index, the level of business comprehensiveness, the risk control index, the management index, and software parameters. So based on those factors, what are the brokers with the highest ratings this June？

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Why the same broker on WikiFX has been given various scores

Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. In other words, if we select a different country or region, we may see a different score from the same broker. For example, when we search for a broker, S.A.M.Trade, on WikiFX, we will find this broker has multiple scroes. How ？ If we select the region as the United States, the score for S.A.M Trade is 4.31/10.

However, if we select “Hong Kong”, the score for the same broker would be 5.62/10. we can see the difference here. the regulatory strictness of local regulators in HK is different that the one in United States.

Counterfeiters

There are several traders with the same name and their scores vary widely. That's because there are a lot of fake brokers. This tends to happen with big-scale brokers. Because the counterfeiters hope to use these influential brokers to deceive traders and attract traders to invest. XM, for example. if you search for XM on WikiFX, you will find several brokers with the same name as XM. Fortunately, WikiFX has used the score to tell you who is really XM. And WikiFX has marked them as “fake”.

(Above is the real XM)

(Above are fake XM, and we can see WikiFX has given them pretty low scores.)

emergencies occurs

Sometimes, some brokers may meet emergencies, therefore, WikiFX has to change their scores. For example, they may be suspended by local regulators. Or WikiFX received too many complaints against these brokers. In these cases, the brokers scores will be significantly decreased on WikiFX.

Conclusion

WikiFX socre is virual way to evaluate whether a broker is good or bad. WikiFX advises you to do more research before selecting a certain broker. Make sure you select the correct region before checking the details of the broker. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.