FinexStock is an evident scam brokerage. Rarely do we have a chance to investigate a firm whose main page screams “fraud.” Usually, brokers hide it and pretend they’re legitimate investment companies. With FinexStock broker, there are so many different issues that we had a hard time deciding where to start this review.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | finexstock.com finexstock.eu |
| Blacklisted as a Scam by: | CONSOB, FSMA |
| Owned by: | Finex Stock Inc. |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | N/A |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $100 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:1000 |
| Free Demo Account: | Yes |
| Accepts US clients: | Yes |
What About FinexStock Regulation?
FinexStock claims to be owned by Finex Stock Inc., while their Terms and Conditions belong to Omega Fintech. Furthermore, within the Terms and Conditions itself, the company name is Broker Capitals Limited, registered in Saint Vincent and the Grenadines. We were provided with a registration number 21567 BC 2013 that, according to FSA, belongs to Maximums Markets Limited.
This whole charade shows us two things. First, the company is not legitimate. Second, the FSA of SVG acts as a passive business register and doesn’t regulate or pay attention to any scam companies on its territory.
Why Is It Important For A Broker To Be Licensed?
Any financial institution needs supervision to act according to standards and provide quality service. Since we already went through all the confusion about Finex Stock broker, we will mention one last thing. The company claims to be FCA-regulated since 2005. Obviously, this is just a cherry on top of all misinformation you’re given.
There’s absolutely no reason to trust anything that comes from the broker FinexStock or its employees.
Also, we want to invite you to read our recently updated reviews of fraudulent brokers EJMarkets, Interactive Fund and OctexTrade. Be careful with these brokers.
So Is FinexStock a Decent Broker or a Scam?
FinexStock is a scam brokerage. The firm was blacklisted in Italy and Belgium due to fraud activities. Don’t fall for the scheme.
Warning Issued By The Italian Financial Regulator CONSOB
The Italian regulator issued an official warning against Finex Stock. Since then, the brand has changed its domain from finexstock.eu to finexstock.com and its owner. The previous owner, Broker Capitals Limited, was explicitly listed in this warning, so now the brand claims to be owned by Finex Stock Inc. It doesn’t change the fact that scam is the same.
This warning was republished by the Belgian FSMA.
Traders Reviews About FinexStock
As you can see from reading Finex Stock reviews, traders were misguided to believe they were dealing with a legitimate investment firm. Once they invested funds and couldn’t get a withdrawal, they approached regulators for assistance only to discover that the whole story was fake. Once the broker changed its domain, all the clients’ funds from the previous website became inaccessible.
What Platforms Does FinexStock Offer? – Available Trade Software
FinexStock offers a proprietary WebTrader. Like many scheme firms, this one claims to provide an award-winning platform that will help you on your way to millions. Yet, it’s nothing but a TradingView chart with indicators.
If you are considering online trading, find a legitimate broker with MT4 or MT5. This platform ensures the best trading tools as well as the funds’ safety and security.
All About FinexStock Accounts
Clients can choose one of the three Finex Stock account types.
Accounts differ in leverage, spread, and additional trading instruments.
FinexStock Broker – Countries Of Service
FinexStock trading scam mainly targets residents of Italy and Sweden. However, since we already explained that this company is unlicensed and does everything in its power to hide a headquarters and the owner, you can be targeted wherever you reside. The best thing you can do is decline any offers coming from Finex Stock.
FinexStock Range of Trading Instruments & Markets
Investors can trade on the following assets:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil, sugar
- Indices – Dow Jones, S&P500
- Shares – Amazon, Apple, Google
- Cryptocurrencies – Bitcoin, Ethereum
In the meantime, avoid scammers like Crypto EU, Global Ventures and Richmond Super. If possible, tell us about your scam experience.
Finex Stock Minimum Deposit
There’s a bit of confusion regarding the Finex Stock minimum deposit. The Account Types have an amount next to the name, but there’s a column called “minimum deposit.” Next to the Micro account, we can see the amount of $100, but the column with minimum deposits states that you need to invest $200 for this account. Whatever the case is, it’s still lower than the industry average.
However, investing even a penny in an unregulated offshore scheme is just not worth it.
Bonuses, Cashback, Referring A Friend – Methods Of Fraud
Among other things, Finex Stock uses bonuses and other incentives to lure clients. They approve up to a 50% deposit bonus and allow $3 cashback per traded lot. On top of that, everyone who brings their friends gets a certain amount to their trading account. However, all this serves to bring more clients into the scam. Once FinexStock gets ahold of the money, they will simply vanish.
FinexStock Trading Conditions
Finex Stock offers a pretty standard spread, starting at 1 pip for EUR/USD pairs. Other fees are not specified.
High Leverage
However, leverage is highly unregulated, ranging between 1:100 and 1:1000. EU and UK regulators allow 1:30 for the Forex market and only 1:2 for crypto. Therefore, it’s clear how much you’re risking with FinexStock.
FinexStock Deposit, Withdrawal Methods, and Fees
Finex Stock allows deposits and withdrawals using:
- Debit/credit cards
- AstroPay
- External
Since we’re unsure what is an external payment, we will advise you to use your credit card. That way, you’re entitled to a chargeback within 540 days.
Payment Method Of Legitimate Brokers
Legitimate brokers usually allow using e-wallets such as PayPal and Skrill since you have a money-back guaranteed period.
Scammed by Invest FinexStock Broker? – Let Us Hear Your Story
If you or someone close to you has been scammed by a FinexStock broker, let us know. Our chargeback specialists will be more than happy to hear from you and help you find the best recovery solution.
But What Is A Chargeback?
A chargeback is a way for your bank to recover the funds directly from the merchant. Contact us via online chat to book a free consultation and we will assist you with starting the procedure. The sooner we start, the higher chances of getting your money back.