Breaking: Investor cannot withdraw as UEZ Markets claims the system has been "hacked"?!

Introduction

UEZ Markets is an online forex broker that is newly established, UEZ Markets offers a variety of trading instruments, including Forex, Metals, Energies, Crypto, and Indices through the MT5 trading platform. Recently WikiFX received complaints against this broker as the victim in Malaysia claimed that UEZ Markets does not allow him to withdraw. And even worse, the victim cannot log in to his account. He cannot withdraw because, according to UEZ Markets, the system of this broker has been “hacked”. But is it the truth？

UEZ Markets, a forex broker registered in Cayman Island, said: “Artificial intelligence technology makes investing easier.” It suddenly issued an emergency notice, claiming that the system had been hacked, disrupting all data and causing the company's management account to burst completely. It said that the team was working to resolve the issue, meaning members could not withdraw funds for now. As for how long this will last, the platform did not give a time frame.

About WikiFX

WikiFX is an authoritative global inquiry platform providing essential information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 45,000 global forex brokers. WikiFX gives you a considerable advantage while seeking the best forex brokers.

The complaint

The investor from Malaysia told WikiFX that UEZ Markets had blocked his withdrawal request. He cannot log in to his account. He cannot withdraw because, according to UEZ Markets, the system has been “hacked”. However, the investor and some sources believe this broker is a Ponzi scheme.

Similarly, another investor from Nigeria alleged that UEZ Markets had manipulated the trading process. This is classic fraud. A reliable, regulated broker would not engage in manipulation. See below.

Is UEZ Markets Legit？

So is UEZ Markets a reliable broker？ According to WikiFX, this broker is not regulated by any regulatory institution, which means that if something goes wrong, no one can hold it accountable. WikiFX has given this broker a very low score of 1.13/10. Such a low score reflects the risk of investing in UEZ Markets. Besides, UEZ Markets claims to be regulated by the NFA. However, The NFA with license number: 0554185 claimed by this broker is suspected to be a clone. Please be aware of the potential risk.

Hacked by the Third Party

Many Ponzi Schemes like to use “cyberattacks” as an excuse not to give users money back. WikiFX previously reported that V5 Forex Global, another Ponzi scheme, also used “suffering from cyberattacks” as an excuse to dissuade users who wanted to withdraw their funds. The brokers' real aim is to calm the victims and buy themselves more time to remove the money. Therefore, we ask all investors to be careful and pay attention to UZE Markets to avoid investment fraud by mistake.

What is a Ponzi scheme？

The agent of this broker kept asking clients to develop downlines. It is a financial investment scam where the money gathered from the new investors is paid to the existing investors. The scammers also can pay their new investors with deposits from early investors. Therefore, many investors didn't know the truth at the time, and they felt reassured and decided to invest more. This is pyramid scheme fraud, which is extremely concealment, and deceptive. Many investors will eventually lose money after depositing the money since they can no longer find these fraudsters.

Another FVP Trade？

FVP Trade is a Ponzi scheme. The broker had established a huge fraud chain in the industry, and a large number of investors, especially investors in Southeast Asia, the Middle East, and Africa, suffered huge financial losses due to FVP Trade. In the WikiFX comments section, some users said that UEZ Markets was actually formed by the team at FVP Trade. That said, the company is essentially a clone of FVP Trade. If the rumors are true, this will cause a new round of panic in the foreign exchange market.

Conclusion

Protecting the legitimate rights and interests of forex traders is always the primary concern of WikiFX. WikiFX exposed this case to the public to remind all traders of the potential risks. All traders should be vigilant when investing in a broker.

WikiFX is actively contacting the victims hoping to find more evidence to help resolve the problem. Please stay tuned for more information.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!