forex WikiFX Visited Ortega Capital in Malaysia

[Anzo Lim 0]

https://www.wikifx.com/cn_en/

Broker: Ortega Capital

Location: Suite B-01, Lot 6, 1st Floor, SU3104 Jalan Tun Mustapha, 87007 Labuan F.T, Malaysia

Conclusion: Broker’s licensed branch doesn’t exist

 

Background

Recently, investors reported that the broker Ortega Capital’s address on its official website and its regulatory address on LFSA (Labuan Financial Services Authority) website are inconsistent. The broker also charges a minimum deposit of US$ 5,000, and the demo account registered by new user cannot access the server. At the request of investors, WikiFX survey team decided to visit Ortega Capital’s licensed branch in Malaysia for more details.

 

On-the-spot investigation

 According to the broker’s regulatory address on LFSA, we found the building where Ortega Capital should be located. Taking a closer look, we found that all the shops in the building were closed, with no one in or out, and there were no signs of business. Is Ortega Capital another "shell company"? In order to ensure an accurate survey results, we went into the building and looked carefully door to door, but failed to find any clues related to Ortega Capital. We thus concluded that the building is empty with no one working there.

 

Conclusion

Through our on-site investigation, Ortega Capital’s licensed branch in Malaysia doesn’t exist. Per checking WikiFX App, Ortega Capital’s rating is only 1.29, while the LFSA license it claims to hold is suspected to be a cloned one. The broker is currently without valid regulation, and investors should stay away from it to avoid potential risks.

Edited December 27, 2019 by Anzo Lim