Finaz or Finazio broker is currently another inactive domain waiting for everyone to forget about the scheme before it’s back big time. As’s the case with most offshore firms, once Finazio was blacklisted, it decided to lay low and let everyone think it was over. Read our Finazio review, and you’ll understand why we suspect it’s not.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | finaz.io |
| Blacklisted as a Scam by: | CNMV |
| Owned by: | Finaz.io Ltd |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2020 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:100 |
| Free Demo Account: | No |
| Accepts US clients: | No |
What About Finazio Regulation?
Finazio was a brand name of Finaz.io Ltd from the Marshall Islands. With this country being offshore and its regulator being one of the loosest ones, no wonder Finazio felt good enough to set up its scheme there.
In addition, we strongly advise you not to invest inThunder,EuroTradesandFX Elite Trader fraudulent brokers.
Why Must a Broker Have a License?
Brokers need a license in order to form compensation funds, follow specific regulatory rules, and be supervised. When there’s too much money involved, one can easily decide to disappear. This is why regulation ensures that clients will get their funds back.
Of course, Finazio never bothered to opt for a license. As such, once the firm vanished, many clients were left with no refund options.
Finazio Warnings From Financial Regulators
Finazio has been blacklisted by the Spanish CNMV after numerous clients in this country filed a complaint. It looks like Finazio was another boiler room of PandaTS, already known for providing trading software to offshore scam firms.
Traders Reviews About Finazio Scam
Finazio reviews are mainly negative, with clients stating to have been defrauded by the broker’s slimy employees. At first, account managers will pretend to be your best friends until you give them access to your device via AnyDesk. Then, your bank account will be wiped off, and your access to the trading account blocked.
Supported Trading Platforms – Available Trading Software
Finazio takes its platform from PandaTS, a WebTrader of offshore scams. This WebTrader lacks charts and indicators, while the spread goes up to 1:100. Just for clarification, the EU and UK regulators limit the leverage to 1:30 or 1:50 for the Forex market due to high risks.
If you’re about to start trading, we advise you to find a legitimate firm offering MT4 or MT5.
Everything About Finazio Trading Accounts
There are 4 Finazio account types:
- Classic – $250
- Gold – $3,000
- Platinum – $15,000
- VIP – $50,000
There are no deposit fees, and the minimum deposit is quite standard. However, trading conditions are not regulated, making this broker not worth the risk.
Besides, there’s no Demo account you could use for practice.
Finazio Range of Trading Instruments & Markets
There’s nothing special about Finazio offer of trading instruments. Clients can trade with the following assets:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
Also remember the names of the CryptoPro24,EverProTrader andDeltaStreamtrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Finazio Deposit and Withdrawal Methods
Finazio accepts several payment methods, including:
- Debit/credit cards
- Wire transfer
- Skrill
There are no deposit fees besides those your bank may charge.
However, the firm is charging a dormant account fee of $100 a month if the account is inactive for over 45 days. Furthermore, if a client chooses automated trading software, they have to have a minimum of 20 trades before withdrawing funds or closing the account. If not, there’s a $100 fee for using the software.
Last but not least, if you accept Finazio bonus, you will have to repay $10,000 for every $1 you get.
Scammed by Finazio Broker? – Tell Us Your Story
If you were scammed by Finazio, get in touch. Our chargeback specialists may be able to help you get a refund from this fraudulent investment firm.
But What Is A Chargeback?
That’s a way for your bank to reverse the transaction and get a refund directly from the merchant. Contact us via online chat, and we will book a FREE consultation. Our experts will give you an honest evaluation of your case, and we can start working on a refund today!