KEEP YOUR DISTANCE! The CNMV has issued a warning to unlicensed FX broker OPTIMIZE FUNDS

Fake brokers nowadays entice victims in a variety of methods. Optimize Funds is a conglomeration of many typical deception strategies. If the broker is as excellent as it is represented, a large number of traders will flock to it. Regrettably, the broker is not.

WikiFX, on the other hand, has been monitoring unregulated brokers because of the complaints they get every day, and one of the brokers implicated is Optimize Funds. WikiFX has over 38,000 brokers, both legal and unregistered, listed on the site. WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published information is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or other irrational expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up to date. WikiFX is collaborating with 30 financial authorities to assist traders in reclaiming their cash.

False Observations

Optimize Funds' logo has a “10-year” symbol, which is ambiguous. People who do not investigate its facts may erroneously believe it is a broker with ten years of trading expertise. Furthermore, Optimize Funds displays some of the honors that it claims to have received. The awards will be given in 2019 and 2020.

However, when we checked its domain (https://optimizefunds.co/), we discovered that it was registered in 2021. How is it going to win accolades before 2021？ And where did the ten years of experience come from？ These are all red flags.

Attractive Trading Conditions

Optimize Funds promises to provide excellent 10%-25% incentives as well as significant leverage. The maximum leverage is 1:500. Though the trading conditions it provides appear appealing, no one can ensure that the promises would be kept.

NOT Regulated

Asterisk Group LLC claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) under registration number 1491LLC2021. In SVG FSA, we did discover a matched result. However, as we all know, the SVG FSA does not regulate forex activity or grant forex licenses.

CNMV has issued a warning.

The Spanish Comisión Nacional del Mercado de Valores (CNMV) issued a warning on July 26, 2022, that Optimize Funds is not permitted to offer investment services in Spain.

Because they don't need to provide you with money or incentives, scammers are usually pleased to boast they offer huge leverage and bonuses. The crooks do not even consider returning your deposit money. The only thing they do is make up a number in your accounts and then flee with your money.

In addition to WikiFX, whenever they get a complaint from their traders, WikiFX has the authority to take early steps with the assistance of financial authorities to prohibit unlawful acts carried out by unregulated brokers. Forex trading, as we all know, is one of the most popular methods to generate money, despite the fact that it involves high-risk investments. As a result, there are a lot of fraudsters in the currency market. WikiFX constantly encourages its users to submit an exposure report to the official WikiFX website. This is to inform other traders about the unlawful activities of a certain broker.

You may also contact WikiFX Customer Support.

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