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Finex Trader Review – Learn More About FinexTrader.com
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If you have run into Finex Trader, get away from this broker scam before you are defrauded. If there were a perfect archetype for a fraudster, it would be Finex Trader. First, it is an unlicensed brokerage firm and provides fake trading credentials. Then, several financial regulatory bodies warn against it.
|Minimum Deposit||250 EUR|
|Broker Type||Forex provider|
Finally, it offers unfavorable trading conditions and poor trading software. For the sake of information, read the following Finex Trader review and learn more about FinexTrader.com.
Finex Trader Regulation and Fund Security
So let’s get started with the Finex Trader broker review by emphasizing the importance of regulation. Online trading is a heavily controlled industry by respective financial institutions, ensuring ethical business, preventing manipulation, and protecting traders.
Concerning Finex Trader, it is allegedly registered in the UK but is unauthorized to provide online financial trading services on the British market. In terms of regulation, all UK-based broker firms must be licensed by the British financial market regulator (FCA) to operate legally.
However, Finex Trader not only lacks the FCA approval but attempts to deceive people by fabricating permits. Namely, this phony broker claims it is an authorized online financial trading company by three irrelevant supervisory agencies, e.g., IRBEM, MFA, and SFINS. We have a good reason to believe that these entities are also fraudsters. Anyway, genuine or not, they are definitely not real financial authorities.
On top of that, Finex Trader is blacklisted by three different watchdogs, i.e., Italian CONSOB, French AMF, and Austrian FMA. All that said before are sufficient grounds to stay away from this fraudulent broker.
Finex Trader Trading Platform Overview
More on Finex Trader, this untrustworthy broker assures traders that they will get access to advanced trading programs, i.e., web terminal (desktop and internet-based trading platform) and Forex Trader mobile trading application. However, we wouldn’t bet on it.
For successful and safe trading, you should opt for legitimate companies that use MetaTrader 4 (MT4), MetaTrader 5 (MT5), Sirix, and cTrader. These powerful trading platforms come with lots of excellent features, including copy trading, automated trading, stop loss, market analysis, fast execution, unlimited pending orders, and many more.
For the avoidance of doubt, Finex Trader mentions on its website that it offers MT4, however, it is just another lie to entice people into trading on its manipulative trading software.
Available Account Types
As it goes with scam brokers, they omit essential information to easier manipulate and defraud you. The same applies to Finex Trader that is not transparent about available account types. All it reveals is the minimum required deposit, which is 250 EUR. Needless to say, this amount represents unnecessary risk since you can start trading with a well-established FX broker for as little as 5 USD.
Additionally, this bogus broker claims its trading accounts come with great conditions like 1:500 leverage (it is restricted in most jurisdictions; in the UK, at 1:30) and spreads of 0.0 pips (which is manipulated to rope you into investing).
Trading Instruments and Markets
As an online trader, you will be interested in what trading instruments are available; that’s why Finex Trader promises 1200 tradable assets, such as as follows.
- Currency pairs, e.g., USD/EUR, GBP/CHF, SEK/NZD, ZAR/JPY, and CAD/AUD.
- Stocks like Bank of America, Pfizer, IBM, WalMart, Barclays, etc.
- Indices such as FTSE EuroTop 100, Nikkei 225, DAX 40, S&P 1000, and NASDAQ Bank Index.
- Cryptocurrencies: Dogecoin, Ethereum, Tether, Bitcoin, Litecoin.
- Futures: forex, bonds, precious metals, agricultural products, crypto.
- Commodities: coffee, live cattle, lumber, cotton, gold.
If you want to trade with plenty of tradable assets under favorable terms of exchange, we suggest doing it with leading and trusted brokerage firms authorized by top-level financial market regulators such as CySEC, FCA, FINMA, and ASIC.
Finex Trader Deposit and Withdrawal
All investment scam brokers tend to hide information or give misinformation on accepted payment methods. Likewise, Finex Trader promises transparent fees but is not clear about how you can deposit nor draw out funds. Anyway, you would have nothing but withdrawal issues with this illegal broker.
Unlike a trading scam, credible forex providers are unambiguous about supported means of payment (e.g., credit cards, bank transfers, and wallets), withdrawal fees, and processing time.
I Was Scammed by Finex Trader – How Can I Get My Money Back?
If you or someone close to you are a victim of a Finex Trader scam, you should act fast. In certain cases, getting your money back is possible. We advise contacting relevant authorities and cyber security specialists to help you with claims and chargebacks.
Also, you should warn others by posting negative Finex Trader reviews on related websites. If you require help reporting scammers, filing a complaint, and retrieving money, get in touch with our company.
Finex Trader Summary
Key takeaways from this analysis are as follows.
- Finex Trader is an unlicensed forex provider and, as such, can be involved in fraudulent trading activities without consequences.
- Likewise, it is anonymous and not trustworthy, hence, there are no money withdrawal guarantees with the Finex Trader broker.
- Not only is Finex Trader a bogus brokerage firm, but its financial regulators are as fake as this company.
- However, this financial swindler hasn’t gone unnoticed; three major supervising agencies have issued official warnings against it.
- Lastly, even if disregarded the above-mentioned, Finex Trader still would be bad for trading because of its incompetent service, insufficient platform, and adverse conditions.
FAQs About Finex Trader Broker
Is Finex Trader A Good Broker?
No, it is a horrible option for trading since it is an illicit broker.
How Long Do Finex Trader Withdrawals Take?
It is questionable whether withdrawals are even possible with this unscrupulous broker.
Does Finex Trader Offer a Demo Account?
No, it doesn't, which is so typical for a dishonest scam broker.