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WikiFX Review: Can POOPAC make your money safe?
Abstract：Registered in the UK, POOPAC is an online forex broker offering a wide range of market instruments to its clients. In this article, WikiFX is going to analyze this broker from specific information, regulation, exposure, etc to help you better understand the reliability of this broker. Let’s get into it.
Concerning POOPAC
Registered in the United Kingdom, POOPAC is a technologic-centered, service-oriented global multi-products online service provider. This company has service centers in Australia, Spain, Malaysia, Seychelles, Canada, and Cyprus. POOPAC provides global traders with more than 200 trading products in currencies, metals, commodities, indices, shares, and cryptocurrencies. The company address of this broker is Unit G1, Capital House 61 Amhurst Road, London, United Kingdom E8 1LL.
Inaccessible Website
For unknown reasons, the official website of this broker is not available. Please be aware of the risks.
Regulation: Is POOPAC legit？
POOPAC is not regulated by any regulatory authority. As an unlicensed broker, POOPAC can easily take your funds away as no one can hold it accountable. In addition, WikiFX has given this broker a low score of 1.29/10.
Minimum Deposit
POOPAC offers two real trading accounts: Standard and Prime. However, the minimum initial deposit requirement for each account is not disclosed.
Leverage
The trading leverage varies depending on particular instruments. The maximum leverage for the forex pair, gold and silver trading is up to 500:1, for commodities and indices trading up to 200:1, for shares trading up to 20:1, and for crypto up to 2:1.
Spreads & Commissions
Spreads and commissions vary depending on what kind of account you are holding. Spreads offered by the standard account are much wider but charge no additional fees. The Prime account offers ultra-low spreads yet with a certain commission. For example, the benchmark EUR/USD pair in the Standard account start from 1.3 pips, from 0 pips in the Prime account.
Trading Platform
This broker uses MT4 as its main trading platform.
Deposit & Withdrawal
POOPAC does not disclose payment methods it supports, and some common funding options accepted by most brokers include Visa, MasterCard, Wire Transfer, Skrill, and Neteller.
Customer Service
The customer support team of this broker can, hopefully, be reached through email: support@poopac.com.
Exposures
As of January 4, 2023, WikiFX does has received complaints against this broker. Blocking clients withdrawal requests is the problem that clients complained about the most.
Conclusion
We advise you to avoid this broker as possible as you can. Although POOPAC claimed to have experience of 2 to 5 years, an unregulated broker with a low WikiFX score cannot be trusted. We encourage you to seek a better alternative instead of POOPAC. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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