SparkFX Review 2025: Unverified Dubai Claims and Rising Risks in the Arab Market
An in-depth review of SparkFX (Score 1.82) investigating claims of a Dubai license, expansion into Arabic markets, and reports of unfair account bans.
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Abstract:Forex scams come in different variations. At WikiFX, we have seen so many situations wherein victims reported that they got scammed through different tactics that a normal person would not be able to fathom. However, it is not common to see a forex broker that could disappear entirely from MT5. Keep reading to find out more.

Just last week, WikiFX had a suspicion that Wintersnow Ltd could have changed its name to Grand Signal Markets (GSM) Ltd when we could not locate its Twitter account. On the contrary, we found another Twitter account which belongs to GSM Ltd that has an uncanny resemblance to that of Wintersnow Ltd.

For more information, read this article here: https://www.wikifx.com/en/newsdetail/202208194414219995.html.
It seems like our hypothesis has been proven true through this Exposure piece that was submitted by a victim of Wintersnow Ltd from India, named Muthuraja

He reported that first, he could not withdraw funds from Wintersnow Ltd because he was told to pay for management fees, which he eventually paid, but he still did not receive his withdrawal. In total, he has lost about 6 figures USDT, which is equivalent to 6 figures U.S. dollars.




Below is the email that Muthuraja sent to Wintersnow Ltds customer service, but he has not gotten a reply till to this date.

What Muthuraja told WikiFX is the main point:
Wintersnow Ltd cannot be found anymore on MT5. He voluntarily provided screenshots to prove this.





From all the evidence that WikiFX has gathered, it is reasonable for us to believe that Wintersnow Ltd has disappeared from the face of the earth along with its clients funds.
If you are a victim of any forex broker scam, we at WikiFX will do our best to help you investigate and potentially recover your funds. All you need to do is contact us through the mediums listed below and our customer service representative will be in touch for further discussion:


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.

An in-depth review of SparkFX (Score 1.82) investigating claims of a Dubai license, expansion into Arabic markets, and reports of unfair account bans.

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