Finarix (Finarix.com) is another example of Forex broker scam in the industry. Sadly, we have received numerous complaints from people who have been scammed by Finarix. Since it’s our duty to protect the good Forex trading names, we decided to conduct an investigation. Our main goal was to find out if Finarix was indeed scamming potential Forex investors. Our investigation revealed disturbing things. Read on to find out the whole truth!
Upon visiting the homepage, members are greeted with an investment opportunity. You are asked to invest in a wide array of assets. Traders are promised to trade with over 200 assets and generate over 85% in profit. All this will be managed with the help of a single click. Sounds too good to be true? That’s because it isn’t true. These are seasoned scammers who know how to entice newbie traders into signing up.
Finarix is promising traders to trade the global market from their secure and accurate platform. What we found odd was the fact that they claimed their platform was accurate. The problem we have with Finarix is not just one. They claim to trade using top-notch instruments that they don’t divulge. We don’t know which instruments they are claiming members use.
According to their homepage, newbies can learn everything about trading Forex with their library. Problem with this is that we could not get any single material from their so-called library. Claims that the materials used will help make better trades for customers is pure lies. We tried downloading their eBooks and attachment failed. Download could only go up to 75% and this is on the desktop. We faced the same issue too while downloading their mobile platform.
We also tried to get a hold or plan a webinar. Planning a webinar helps you get in touch with a professional trader. Things went from bad to worse since we couldn’t get a hold of any webinar meeting. Contacting owners or people behind the website was also a problem.
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No one has a clear location as to where this forex brokerage is located. They claim to be based in the Marshal Islands. One contradicting statement is that they are based in Bulgaria. This makes us question the legitimacy of this brokerage. Why can’t they just plainly tell us where they are located? How can we trust our money with an entity whose location remains a mystery? These are some of the hard questions we are asking.
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When you scroll down their homepage, you will see that Finarix is under Zolarex Limited. They claim to have a registration number 78978 which is located in the Marshall Islands. Folks, we are dealing with a fake company since there’s no such thing. We investigated this company by contacting the registrar of companies. News emerged that the registrar of companies has never heard of this company.
We tried sending an email to them using their address. Up to now, we have not received any details regarding our text. We are not the only ones who have not received feedback from their support staff. Most people who have been signing up the claim they too have not received any feedback. This makes this a dangerous scam that should be avoided at all costs.
Visiting their homepage, you will realize that their support system is always down. As we were conducting our investigation, there was no time chat was live. This begs the question, why would they have dormant chat support? The simple answer is that once newbies visit the page, they will think that support is down just for a day. Truth is, support is always down.
They also put up a disturbing disclaimer issue. Traders must at all times direct all complaints to their email address. We had earlier stated that their email address never responds. This just makes us question the broker even further. No sane brokerage firm would have both chat and email services offline.
This Forex broker offers a wide array of payment platforms. You can make deposits using MasterCard, Visa, and IDEAL. What we found disturbing was that deposits are fast and easily made. When it comes to withdrawing, here lies the problem. Withdrawals are a different ball game.
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We have not heard of a single person who has managed to withdraw with this Forex brokerage firm. Why is this you may ask? It’s because we are dealing with professional scammers. Judging by their website, they don’t want to be recognized. Why would they not allow people to make withdrawals? Why are they just accepting deposits? They are simply not in the forex trading business to trade, they are out to steal from investors.
Note that you are promised 85% profit on all trades made. This is simply a lie that cannot happen in any financial market. Why? All financial markets are volatile and prices change without warning. Prices change due to unforeseen circumstances such as competition, political interference and boardroom wars. These are some of the reasons why making these claims of 85% profit margins is nothing but a lie.
These scammers are using the idea that you can easily sign up due to guaranteed profits. Let us be the first to tell you that there’s nothing like guaranteed profits. This means that you will be able to make almost perfect trades using Finarix.com’s platform. None of this is going to happen. Once you sign up and make deposits, it will be the last you hear from them.
Being an offshore brokerage, we are sure they are not regulated. They don’t adhere to the set industry’s rules and regulations. We contacted recognized and reputable financial regulatory bodies for clarification. We started with the Australian Securities and Investments Commission (ASIC). They have never heard of Finarix.
We contacted the Financial Conduct Authority and CySEC and they too never heard of Finarix. This is clear that we are dealing with a Forex brokerage scam.
Evidence produced strongly point that we are dealing with a scam. From having no contact information to offering insane profit margins, we are dealing with a scam. One thing is clear from what we have gathered, a lot of people have been scammed by Finarix. The best thing you should do is stay away from it.
Finarix is a disgraceful scam that law officials should look into. No sane forex broker would try to remain anonymous as Finarix.com is trying to do. We urge all our readers and Forex investors to steer clear of Finarix.com Brokerage.
If you want to trade safely with Forex, always use reputable and trusted Forex brokers. These brokers are well known in the Forex world to offer realistic profit margins. Get the best forex brokers who will ensure you make reasonable profit margins. Remember to stay safe and trade smart.
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