Global Broker Regulation Inquiry App

About WikiFX

Broker Search

English

简体中文

繁體中文

English

Pусский

日本語

ภาษาไทย

Tiếng Việt

Bahasa Indonesia

Español

हिन्दी

Filippiiniläinen

Français

Deutsch

Português

Türkçe

한국어

العربية

اردو

Download

WikiFX Express

MultiBank Group does not allow an investor to withdraw? But why?

Shenghui Is A 2-IN-1 SCAMMER

WikiFX

| 2022-07-28

Abstract： Recently, it seems that forex brokers have gradually gotten on the “Tinder Swindle” trend. Fraudulent forex brokers tend to lurk on dating apps to find their potential victims by exploiting romance and human emotions as a fast way to earn one’s trust.

Shenghui Group Ltd is a forex broker that provides online fx and CFD trading services.

Its official website is shgroupltd.com.

There is no registered address provided on Shenghuis website which is not a good impression, to begin with. A professionally set up forex brokerage should not have such an issue.

WikiFX recently received an Exposure submission from a Malaysian user named Michelle. She got to know a man on Tinder who recommended her to open an account with Shenghui Group Ltd. He prompted her to deposit USD 10k into the trading account with him as a guarantor.

Below is the complete description of the whole incident that was sent to WikiFX by Michelle:

Michelle also provided her accountant statement as evidence:

Prior to contacting WikiFX to mediate this case, Michelle approached another company named Fintr***.

They asked her to pay upfront as they claimed that is the only way they could retrieve her money back from Shenghui Group.

WikiFX would like to reiterate that we do not charge a single cent for helping victims of fraudulent brokers. Do not hesitate to seek help and/or advice from WikiFX if you have fallen into the traps of scammers.

You can reach WikiFX through the mediums below at any time and our customer service representative will get in touch with you shortly to help you out:

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

Broker Forex Analysis Forex news

MultiBank Group does not allow an investor to withdraw? But why?

Related Brokers

Not Regulated

SHENGHUI

SHENGHUI GROUP LTD

https://shgroupltd.com/

1.57

Score

5-10 yearsQuestionable Regulatory LicenseSuspicious Operational RegionHigh Potential Risk

1.57

Score

NXG MARKETS Review 2026: India RBI Alert, Regulation, Login, and Risk

People searching NXG MARKETS regulation or regulation NXG MARKETS need to separate an overseas licence from permission in India. The Reserve Bank of India Alert List, updated 19 November 2025, names NXG Markets and nxgmarkets.com. RBI says listed entities are neither authorised to deal in forex under FEMA nor authorised to run an approved forex electronic trading platform. The broker's own site also says it does not serve residents or citizens of India. This NXG MARKETS review found an overseas Mwali licence record, but no RBI authorisation. No cited court ruling proves fraud. For an Indian user, the local warning and service restriction should control the decision.

Original 44m

Neomarkets Review 2026: Investors Report Scams & Unfair Charges

Neomarkets, a Kazakhstan-based brokerage firm, is facing some allegations of fund scams and unfair charges. These charges were reportedly on both deposits and withdrawals. As negative Neomarkets reviews became prominent on broker evaluation platforms, it was important to inspect these allegations and understand its regulatory scope. We have covered these in this article.

Original 3h

OnFin Review 2026: Investigating $45K+ Fund Loss & Other Trading Allegations

OnFin, a Comoros-based multi-asset brokerage firm, impresses users with its wide range of products and trading platforms. However, user reviews largely reflect negative sentiments for the broker. Withdrawal issues have allegedly become the talking point among users on broker review platforms such as WikiFX. Among the complaints, one user even highlighted a fund scam totaling over $45,000. Additionally, the alleged failure of the broker in providing trade logs added to negative OnFin reviews. While examining the reviews, we have provided a regulatory overview of the broker.

Original Yesterday 21:30

FCA Warns reclaim-experts.com: 7 Checks Before You Pay

The UK regulator classified the website as a clone of an authorised firm on 28 August 2026. The FCA says the genuine Reclaim Experts Ltd has no connection with the clone.

Original Yesterday 19:15