FOMOSO was reported again for delaying user’s withdrawal request

Platform delayed investor' s withdrawal request.

Platform customer service put off investor arbitrarily.

Platform was exposed by WikiFX again.

Keep yourselves away from it.

These days WikiFX received investor' s complaint of FOMOSO again for they rejected investor' s withdrawal request after the broker didn' t accept investor' s profit and detained all the money in his account last year. And the platform customer service has delayed the request arbitrarily for over one month.

Mr. Li lodged a real-name complaint against FOMOSO by presenting his ID card

Case review

Mr. Li shared his unhappy experience with WikiFX

Mr. Li' s said, he began to deposit money to FOMOSO through a friend' s referral in November last year.

He made some loss in the trade and then submitted withdrawal application in February this year; However, the platform rejected the application for an unsolved one before.

And the problem still hasn' t been solved till now, though he contacted the platform customer service several times.

1. Mr. Li' s deposit records

Screenshot of investor' s account statement

Mr. Li has kept on depositing money to FOMOSO since November last year.

2. Mr. Li' s one withdrawal request suspended for a long time

Withdrawal records

Mr. Li made a trade with the money that was under withdrawal approval in January. And the application has not been approved by FOMOSO till now.

3. Mr. Li cannot submit new withdrawal application.

Screenshot of User' s requests

When withdrawing money in February, Mr. Li found the withdrawal application in January was still under approval, which results in that new one cannot be submitted. So he contacted FOMOSO on February 14th and 25th twice.

Mr. Li' s withdrawal request was rejected by FOMOSO

FOMOSO didn' t solve the withdrawal problem by March 4th, which was delayed for about one month. Mr. Li still cannot submit new one till now.

4. Mr. Li contacted the platform customer service.

Screenshot of the conversation between Mr.Li and platform customer service

Mr. Li told FOMOSO' s customer service that he couldn' t withdraw money because of an unsolved withdrawal application. Without providing any practical solutions, they just replied that “the problem had been reported to related department”.

5. Mr. Li cannot withdrawal the money in his account.

Screenshot of Mr. Li' s account balance

Mr. Li still cannot withdraw the money in his account till now.

About FOMOSO

Regulatory information of FOMOSO

Screenshot of regulatory information of FOMOSO from WikiFX App

Per investigation, FOMOSO holds NFA(USA)' s license for providing general financial service only. Without the authority of Forex brokerage business, FOMOSO has operated in overrun business in China, and has potential risk.

MT4/5 identification

Screenshotof MT4/5 identification from WikiFX App

Per investigation, FOMOSO uses white-label MT4 trading software with server set up in Singapore and Hongkong respectively. The investment costs of white-label Forex brokers are relatively low, and havea higher risk.

Network diagram

Screenshot of network diagram of FOMOSO from WikiFX App

Per checking WikiFX App, FOMOSO has relation with 7 brokers in white label, which are BGTFX, JINHUI GLOBAL, Jane international, BKG, Relianzs, KAIJU, RYKAN respectively.

Recently, FOMOSO was reported many times for withdrawal problems. Be alert to it to avoid risk.

FOMOSO was exposed for rejecting investor' s application in WikiFX' s report, Investor Was Refused to Withdraw the Principal by FOMOSO. And FOMOSO promised to refund the money deposited if investor gave up the profits.

However, the platform didn' t do so after the investor send a declaring email per the platform' s promised. On the contrary, FOMOSO detained all her money, causing the investor couldn' t withdraw tens of thousands of USD in her account.

Conclusion:

Screenshot of FOMOSO interface from WikiFX App

With rating 3.11 only, FOMOSO operates in overrun business in China and uses white-label trading software, meaning considerable risk. In addition, the platform customer service delayed investor' s withdrawal application arbitrarily for a long time. Investor still cannot withdraw money in his account till now.

FOMOSO was exposed twice for delaying investor' s withdrawal request. WikiFX reminds investors to check WikiFX App regularly to ensure the safety of your investment and avoid potential risk. Do not trust other people' s word easily.