Finantik (Finantik.com) is another abashed online Forex scam ripping off anyone who associates with it. The platform is claiming to help investors take their trading to the very top. Other claims posted on their homepage include setting yourself free as you exceed your limits. With such a moving sales pitch, investors have signed up without doing proper diligence. Read this genuine and honest FINANTIK Review and get the whole truth.
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After we received a moving email from one of the victims of this scam, we had to investigate. From what other members are claiming, it is hard to withdraw funds with this platform. No member has been able to withdraw funds as some of them have had their accounts closed. With no reason given, these victims are angry with the fact that they still have a substantial balance remaining. With such a platform on the loose, we have to expose them and ensure investors don’t fall for their trap.
Finantik is another online scam which is operated by online scam artists. What they have done to fool investors into signing up is cloning a real trading website. These scam artists are using information from a real account and copying them to their website. Since most investors don’t do a thorough background, they end up signing up. Thanks to our years of investing and trading, we know how to spot a scam from a mile away. Read this entire review and find out some of the tricks used by Finantik Scam artists.
According to details posted on their homepage, the platform is owned by Pro Star. The company is associated with a number of online scam artists. This is one of the many red flags we spotted coupled with the fact the platform is offshore based. By their own admission, they openly state they are based in St. Vincent and the Grenadines. It is best you stay away from this platform since no offshore broker is ever trustworthy.
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Another red flag we spotted is in regards to anonymity. Anonymity is one of the biggest challenges users face with this platform. No one knows the names of the founding members of this platform. It would be ideal if we had the names of the CEO or CFO of Pro Star. With their names, it would have been easier to ask a few questions. Scam artists never want their names to be thrown in public. They fear being located by authorities and victims. Stay away from any anonymous online investment trading platform.
With the platform location in question, we are sure FINANTIK IS NOT LICENSED OR REGISTERED. To confirm our fears, we reached out to various online regulatory bodies search data. Some of the regulatory bodies we contacted include ASIC, BaFIN, CONSOB, CySEC, FCA, and others. None of these well-established regulatory institutions has ever heard or licensed this platform. Whoever signs up should expect nothing but a horror show.
Why has the platform failed to post any details regarding their license or registration number? It is because they don’t have any documents to prove their compliance. A real trading license will post copies of their license certificates for all to see. Once you get to see the documents, you can verify with the right authorities. Scam artists will never post any such details as it is evident with this platform. It is best you stay away from this platform and never sign up with any of their affiliate programs.
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We could not find any advantage of dealing with an offshore based platform. The number of complaints is rising as more and more members get their accounts blocked. Communicating with the platform has proved futile as their numbers are blocked. The racket is a well-organized gang which is taking money from anyone who signs up.
Finantik is furnishing users with four account types to choose from. The accounts listed include Classic, Gold, Platinum, and VIP. Classic account is the basic account and goes for $1,000. The features in some of these accounts are almost similar which makes us question the intent. Why would an investor deposit $100,000 and get the same features as one who deposits $25,000. And that’s why you should stay away.
Another disturbing feature with this platform is lack of a demo account. No one knows why the platform has left out this vital feature. Smart investors know that a demo account gives traders information on the platform. No smart investor will deposit funds without testing how the demo account behaves. With a demo account, you get to know the advanced tools available on the platform. You also get to test how fast the platform executes trades. Why the demo account is unavailable remains a mystery.
The disclaimer at the footer of the homepage has banners of related payment methods. Members are depositing funds using bank accounts, MasterCard, and Visa. The problem with this method is that you will never withdraw funds. These scam artists give lame excuses such as a member’s bank is refusing to accept their system. No member has come out with proof of ever withdrawing funds with this platform. You should know better than to sign up with an offshore based trading platform.
According to their platform’s page, they claim to offer MT4 trading platform. A closer look at one of the victim’s portal shows the platform actually uses a web-based platform. The problem with their platform is lack of proper security features. The platform has no DDoS protection or SSL encryption which is a huge security risk. Hackers can easily take over this platform and steal valuable data from members.
When it comes to safety of funds with Finantik, evidence shows security of funds is not guaranteed. With the number of complaints rising, more and more members are losing their deposits to this scam. Damning evidence shows segregation of accounts is not in play. What this means is the platform is pooling funds in one account which is against trading rules. Members are actually depositing funds straight to scammer’s personal bank account. Now you know why to avoid this platform.
Evidence is already on their website; Finantik is a scam waiting to rip off anyone who signs up. Ensure you mark their emails as spam and never click on any links sent by their email marketing team. Whoever signs up with this platform will open themselves up to third parties. Warn your family and friends from joining any of their affiliate programs.
We have no other option but to add Finantik to our scam blacklist.
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Wishing all investors a happy and prosperous trading period.
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