Finaxis (Finaxis.io) is a CFDs, Crypto Currency and Forex brokerage firm to hit the lucrative Forex world. FinAxis is a scam broker who is purporting to offer users spreads from 0.2 points. Fin Axis is purporting to offer more than 50 trading instruments and 24/5 support. Anna who signed up a few months ago has lost all her deposits. Read this detailed and honest Finaxis review to know the truth.
Looking at their homepage, this broker has created a visually compelling website. Immediately you land on their homepage, you are greeted with a red Mercedes Benz. What these scammers have done with this website is entice users with luxury. It’s believed that this broker will make you rich once you sign up. That’s what these scammers are after, to grab your attention with their website. Read this entire review to find out the truth.
Claims and promises are another bag of tricks that this broker uses to entice users. Other claims that are used by this broker include more than 500 investment tools. Promise that traders will be using expert analytical support and make profit can be seen on their page. These scammers should be ashamed of themselves considering that these are sales tactics. No user has managed to earn money with Finaxis platform, this is surely a scam.
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It’s not clear who actually owns this scam brokerage firm as no detail is given. What we did was take a look at their contact us page. It seems that this broker is located in Luxembourg, which is a surprise. Scammers will do or say anything to make their products and services appear legit to users. There are a lot of hidden details regarding ownership of this brokerage firm making us question everything. Read this entire review to find damning facts regarding Fin Axis.
Who is the CEO or CFO of this company? Why has the website failed to give visitors any information regarding the people running it? It’s clear that we are dealing with a broker who wants to remain anonymous. Anonymity is a dangerous character to associate with especially with any online investment platform. Stay clear of this dangerous broker and don’t believe a word written on their website. It’s all a marketing trick to get investors to sign up.
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Another damning detail with this broker is lack of proper licensing and regulation. Finaxis is not licensed to conduct any Forex transactions on behalf of third parties. And this makes signing up with this broker a dangerous affair. Disclaimer at the footer of their homepage fails to disclose any licensing or registration information. It’s clear that we are dealing with a rogue broker who is conducting Forex brokerage services illegally.
If Finaxis had been properly registered, where are their licensing and registration credentials? A real broker will post their licensing and registration credentials for all to see. This helps to show transparency and clear the air regarding regulation. Reason why Finaxis is hesitant to display their certificates is because they don’t have any.
Finaxis is offering users six different account types to choose from. These account types include Start, Progress, New Horizon, Classic, Invest power, and Finansist. Minimum required deposit to start trading with each account is $200, $500, $1000, $2000, $5000, and $10,000. Each account comes with 4 asset classes on all trading instruments. These accounts come with an option of fixed or floating spreads. All accounts come with an individual account manager.
Start account does not come with insurance on account which is fishy to say the least. These scammers know that most users will opt to sign up with this account. This makes it easier for them to steal money deposited by investors who choose this account. Why have they failed to offer any insurance cover on this account type? It’s clear that we are dealing with a professional scam outfit that has made their calculations.
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Finaxis uses MT4 trading platform and they claim it’s full of innovation that meets all needs. They offer Mobile and PC versions of this platform and we decided to test their platform. And this is where we faced our biggest hurdle when it comes to MT4 platforms. Download could not complete which means investors are using an unstable platforms. This is the last thing a trader should have since this is a huge risk factor.
Hackers find unstable platforms as the best place to harvest personal data. Next thing these hackers will do is purchase goods and services using your credit card. That’s why we are strongly against any trader or investors signing up with this fake broker. Stay away from platforms that are unstable in nature.
When it comes to safety of funds, this broker will never guarantee it. In fact, funds are nowhere near safe with this broker for a number of reasons. This broker fails to give users the required details regarding their banking institution. Where do they bank money deposited by users? It’s also possible that investors are depositing money straight to the owner’s personal bank account. Stay clear from this broker at once.
And segregation of accounts is not done with this platform. It means that Finaxis is pooling funds in one account which is dangerous. In case of bankruptcy or insolvency, this broker will lose all the funds at once. If you are thinking that the broker will compensate you, think again. FinAxis does not take part in any compensatory scheme. Surely, this is a scam as this broker does not follow set rules and regulations. Stay clear from this broker.
For a broker who claims to have innovative technology, why do they lack a live chat support team? Least thing they would have done is create a bot chat service. Not that we are for bot chat, but in this case, they help answer few questions. Lack of live chat support is clear evidence that this broker wants to remain anonymous for a reason. They are afraid of the backlash they would face from authorities and victims.
Without a shadow of doubt, this broker is definitely a scam that waits to pounce on unsuspecting investors. Make sure to stay away from this broker as they will make sure to deplete your bank account. Mark all their emails as Spam and never click on any links sent by their email marketing team. Warn your friends and relatives from signing up with this broker, that way, you will remain safe.
According to the damning evidence we have exposed, only thing left is add this broker to our scam blacklist. Doing so will hopefully prompt authorities to look into it and shut their whole operation down. Make sure to never pick calls from their agents as they will ask you for personal details. This broker is in league with hackers to harvest personal data information. Stay clear from this rogue broker.
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Lastly, we wish you all the best in your Forex trading experience.
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