Table of Content
Fin Art Media Review – Red Flags That This Broker Is a Scam
Table of Content
Fin Art Media Review, Don’t let Fin Art Media‘s outward appearance fool you. It is only a standard FX scam because this broker would stop at nothing to acquire your money.
This company poses an open danger in terms of your funds and any private details you might reveal. This broker is risky and not worth any money, as the Fin Art Media review which follows will show.
|Leverage||1:200 / 1:300 / 1:400|
|Headquarters||Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960|
|Review Rating||0.5 / 5|
|Broker Type||Forex Broker|
|Platforms||WebTrader, Platform for Mobile, Platform for Desktop|
Regulation of the Fin Art Media and Fund Security
Fin Art Media asserts that a Marshall Islands-registered business is in charge of running it. Due to two main factors, a few of which you might not be aware of, the Marshall Islands are an extremely attractive venue for scam brokers.
Maybe you can see the first one. Aside from the thousands or hundreds of registered brokers, there is no FX regulation in place in the Marshall Islands, thus none of them are regulated. This leaves each of these brokers, including Fin Art Media, virtually free to behave in whatever they like.
The second factor is how simple it is for any company to register their activity on the islands from a place outside of their jurisdiction. One of the uncommon nations where a business can be founded remotely without ever stepping foot inside the country is the Marshall Islands. You may judge for yourself how enticing this is to an imaginary dealer who needs to register somewhere just for the sake of appearances.
Trading Platform Overview
Fin Art Media broker provides its clients with a WebTrader and two downloadable platforms, one for mobile and one for desktop. Everything that requires a download from scam brokers is a huge red flag. Files are often corrupted and malicious, and in cases like this, you should not even consider doing it.
WebTrader is not bad software, but when it comes to brokerages like Fin Art Media it may be. Fraudulent dealers use it to manipulate data, so in their hands, it is not reliable. As for mobile and desktop apps, we recommend avoiding them, for the reasons we mentioned.
Account Types Available
- Silver – Access to sophisticated charts and leverage of 1:200 are available.
- Gold – 1:300 leverage, a professional account manager, and sophisticated charting are all included.
- Platinum – You get 1:400 leverage, sophisticated graphs, a personal account manager, a swap discount, a free VPS, and special seminars.
On this fraudulent broker’s website, there is no mention of minimum deposits, spreads, commissions, fees, or any trading conditions.
A wide range of trading instruments is available through the broker:
- Currency Pairs
- Crypto Currencies
Despite the fact that this is the case, buyers should ignore everything and refrain from investing because these brokers are swindlers.
Bonuses and Promotions
A “bring a friend bonus” is provided by the broker. Every new client obtained through a referral from another client qualifies for a 100% extra on their initial investment, to a maximum of $2000, for both new and current customers.
Additionally, the broker awards bonuses that are subject to the provision. One-fourth of the bonus in standard lots is the size of it. The fact that a standard lot is equal to at least 100,000 units of the base currency is not disclosed by the broker.
In certain cases, it can even become worse because we’ve seen instances when this clause also applies to customer deposits, making it practically impossible for you to withdraw any of your funds. Avoid utilizing bonuses offered by shady brokers!
Deposit and Withdrawal Process
The legal documents specify debit cards and credit cards as permissible payment methods. The broker does not further comment on the cancellation of credit card withdrawal fees.
The terms and conditions for users also mention that the broker will “manage withdrawals within the first 30 days of an account being opened,” which to us seems to be a big way of informing you that you won’t be able to withdraw. These rogue brokers will most likely take more than 30 days to process any requests.
There may be additional expenses given that the agent clearly specifies account taxes, but Fin Art Media holds back other details in the manner of scam brokers.
How Do I Receive a Refund for Being Scammed by Fin Art Media?
The most frequent course of action is to submit a chargeback request, but only if the user made their purchase using a debit or credit card. Due to this, there aren’t as many investment scams today using credit cards. The good news is that MasterCard and VISA both have 540-day chargeback periods if funds were invested using a card.
Wire transfer payments are more difficult to recover, so if at all possible, we advise approaching the bank to resolve the issue. Oh, and update your bank account password and user name as soon as possible!
Scammers are fully utilizing these aspects as cryptocurrencies multiply and the networks supporting them become more intricate. The outcomes are incredibly profitable. Therefore, never use scam brokers for cryptocurrency payments.
Fin Art Media Summary
- An overseas brokerage based in the Marshall Islands.
- The broker does not hold a brokerage license.
- The broker provides access to a variety of trading instruments.
- 4-5 short facts (claims) about this scam broker from this review in the form of a bulleted list
FAQs About Fin Art Media Broker
Is Fin Art Media Regulated?
Fin Art Media broker is unregulated and a risk to everyone, avoid it.
Is Fin Art Media a Trustworthy Broker?
Fin Art Media is not a trustworthy broker, and it should not be called a broker in any sense.
What Funding Methods Does Fin Art Media Accept?
With Fin Art Media credit and debit cards are permitted forms of payment.