Finansys FX is not a legitimate broker. Their website is outdated and lacks professional presentation. However, the most significant red flag is that they are an unregulated offshore company with unclear conditions. In fact, we were even unable to create an account with them. Such brokers are often associated with fraudulent activities, so it’s best to avoid them at all costs. Read a complete Finansys FX review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshal Islands MH96960
Warning: Not recommended by review website like Scam Helpers
Finansys FX is located in the Marshall Islands, which may lead to hesitancy in placing trust in the broker. The lack of a financial regulator, let alone one that licenses forex brokers, within the country is a concern. Additionally, registering a company in the Marshall Islands is incredibly simple and can be done entirely online, without the need to visit the country.
It’s concerning that the broker in question has failed to provide detailed corporate information, phone numbers, and a legitimate address. Additionally, it’s unclear which company is actually behind this brokerage. Based on these red flags, we can confidently conclude that we’re dealing with an unregulated and anonymous broker. As a result, it’s highly likely that this operation is a scam and poses a significant risk to your finances.
Finansys FX claims to have developed its web-based trading platform for clients. However, when we tried to sign up to test it out, we encountered an error message (404 – File or Directory Not Found). This prevented us from verifying the existence of the platform.
It is worth noting that reputable brokers typically offer the best trading platforms in the market, such as MetaTrader 4 or MetaTrader 5. As a result, traders should consider this when selecting a broker to work with.
Finansys FX offers four different trading accounts, but unfortunately, their website does not provide extensive information on their trading conditions. While they do mention that the minimum deposit is $250 and that the maximum leverage offered is 1:1000, there are no further details provided regarding their trading conditions.
This is concerning as brokers typically offer trading services to their clients, and the lack of transparency regarding trading conditions is a significant issue. In many cases, brokers who withhold this information are often scams, and it is a way for them to deceive clients about potential losses that may occur during trading.
As we were unable to access the client section and kept receiving error messages while attempting to create an account with this broker, we cannot confirm whether the payment methods they advertise on their website are available.
High leverages and bonuses offered
It’s important to approach extremely high leverage ratios with caution. Although there is a possibility of making significant profits, the risks are much greater – traders could lose all their money in the pursuit of gains.
Additionally, Finansys FX offers bonuses that come with a warning. In their Accounts section, it’s evident that these bonuses have unfair withdrawal conditions, requiring traders to meet impossibly high trading turnover targets before withdrawing their funds. This is a red flag to keep in mind.
If you’ve already deposited money with a fraudulent broker, it’s crucial to explore chargeback options immediately. Visa and MasterCard, for instance, enable chargebacks within 540 days of the transaction. However, if you’ve used cryptocurrency or bank transfer, retrieving your funds will not be feasible. To secure your account, change all banking passwords and delete any software installed on your computer by scammers.
Also, read ETFX review to know about similar scams.
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