WikiFX Company Overview

Founding Date and Background

WikiFX was established in 2017 as a third-party information service platform focused on the foreign exchange (forex) industry. It was designed to provide comprehensive data and verification services for forex brokers, helping users make informed trading decisions and avoid fraudulent activities.

Parent Company/Ownership Structure

WikiFX operates under the ownership of FX Wiki Limited, which is dedicated to enhancing transparency in the forex trading environment. The company leverages advanced technology and algorithms to assess broker credibility and provide users with accurate information.

Headquarters Location

The company's headquarters is located in Singapore, with additional branches in various countries, including Japan, Australia, Dubai, Indonesia, Malaysia, Vietnam, Cyprus, Nigeria, and Egypt. This global presence allows WikiFX to cater to a diverse range of traders and investors.

Global Business Scope

WikiFX serves over 21 million users across more than 180 countries and regions, providing them with essential information about forex brokers, including regulatory status, license qualifications, risk information, credit ratings, site investigations, and more.

Main Regulatory Bodies

WikiFX collaborates with various regulatory authorities to ensure the accuracy and reliability of the information it provides. Key regulatory bodies include the Financial Conduct Authority (FCA) in the UK, Australian Securities and Investments Commission (ASIC) in Australia, Commodity Futures Trading Commission (CFTC) in the USA, and other local regulatory agencies worldwide.

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Company History and Development

Key Milestones

• 2017: WikiFX was founded, focusing on providing data and verification services for forex brokers.
• 2019: The platform expanded its services to include a more comprehensive database of forex brokers, reaching over 10 million users.
• 2020: WikiFX launched its mobile application, making it easier for users to access broker information on the go.
• 2021-2023: The company continued to grow its user base, reaching over 21 million users and enhancing its database to include more than 49,000 forex brokers.

Business Expansion Journey

WikiFX's business expansion has been driven by the increasing demand for transparency in the forex trading market. The company has consistently updated its database and improved its services to meet the needs of traders and investors worldwide.

Customer Base Growth

The platform has seen significant growth, with its user base expanding from 10 million in 2019 to over 21 million by 2023. This growth reflects the increasing awareness of the importance of broker verification and risk management in forex trading.

Platform Development History

WikiFX has invested in developing a robust platform that allows users to verify brokers efficiently. The introduction of its mobile application and the continuous enhancement of its website have made it easier for users to access critical information.

Important Awards or Recognitions Received

While specific awards may not be publicly highlighted, WikiFX has earned recognition within the forex trading community for its commitment to enhancing transparency and providing reliable information to traders.

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Trading Services Offered

Forex Trading Options

WikiFX provides information on a wide range of forex brokers, offering access to over 60 currency pairs, including major, minor, and exotic pairs. This extensive selection caters to different trading strategies and preferences.

Stock Trading Options

While WikiFX primarily focuses on forex trading, it also provides insights into brokers that offer stock trading services. This includes information about available stock trading platforms and the types of stocks offered.

CFD Trading Products

WikiFX lists brokers that offer Contracts for Difference (CFDs) on various assets, including stocks, indices, and commodities. This allows traders to speculate on price movements without owning the underlying assets.

Other Financial Instruments

In addition to forex and stocks, WikiFX provides information on brokers that offer trading in other financial instruments such as:

• Cryptocurrencies: Information on brokers that support trading in popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
• Commodities: Access to trading in commodities such as gold, oil, and agricultural products.

Special Services or Unique Advantages

WikiFX offers unique advantages such as an extensive database of verified brokers, a user-friendly mobile application, and comprehensive educational resources that help traders understand the forex market better.

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Regulatory and Legal Background

Detailed Regulatory Information

WikiFX monitors and provides information on various regulatory bodies worldwide, including:

• FCA (UK)
• ASIC (Australia)
• CFTC (USA)
• FSA (Japan)
• CySEC (Cyprus)

This information helps users assess the legitimacy of brokers and make informed trading decisions.

Legal Entity Structure by Region

WikiFX operates as a legal entity in multiple jurisdictions, allowing it to provide localized services and comply with regional regulations. This structure enhances the platform's credibility and reliability.

Client Fund Protection Measures

WikiFX emphasizes the importance of client fund protection. It provides information about brokers' fund segregation practices and other safety measures, ensuring that users are aware of the risks involved in trading.

Countries/Regions Served

WikiFX serves a global audience, providing broker information to users in over 180 countries and regions. Its extensive reach allows it to cater to a diverse range of traders and investors.

Compliance History

WikiFX maintains a strong compliance history, regularly updating its database to reflect changes in brokers' regulatory statuses and ensuring that users have access to the most current information.

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Competitive Landscape

Main Competitors

WikiFX faces competition from several other platforms in the forex information and verification space, including:

1. Forex Peace Army: Known for user reviews and broker ratings.
2. Investopedia: Offers educational resources and broker comparisons.
3. Myfxbook: Provides trading tools and community-driven broker reviews.
4. FXStreet: Focuses on forex news and market analysis.

Positioning in the Industry

WikiFX positions itself as a comprehensive verification platform, focusing on providing accurate and up-to-date information about forex brokers. Its extensive database and user-friendly interface set it apart from competitors.

Market Differentiation Factors

WikiFX differentiates itself through:

• Extensive Database: Over 49,000 forex brokers listed, providing users with a wealth of information.
• User Verification: A robust system for verifying broker legitimacy and regulatory compliance.
• Educational Resources: A focus on educating traders about the risks and benefits of forex trading through webinars, articles, and guides.

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In summary, WikiFX has established itself as a leading platform for forex broker verification, providing essential information and resources to traders worldwide. With its commitment to transparency and user safety, it continues to play a vital role in the forex trading industry. For more information about WikiFX and its services, learn more.