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Finbitex.com Review: Is Finbitex Scam or Not?

Finbitex.com Review: Is Finbitex Scam or Not?

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Finbitex is a company that is an offshore investment company that is operating illegally. They allegedly deal with CFD. The pyramid scheme offers digital currency CFDs. The firm claims that the cryptocurrency exchanges and brokers in the industry with integration.

Additionally, the company has over 40 trading pairs. The digital assets that they provide are BTC, XMR, ETH, DASH, XRP, among other currencies.  The platform additionally supports EUR and EUR. They pair various cryptos for their users.

The company accept payment via multiple methods which include; Skrill, Bank Transfer, Western Union, Credit Card, and Neteller. They do not accept cryptocurrency payment as you can see. It shows that Finbitex does not take their client seriously because they do not disclose their trading conditions.

Instead, they only have marketing copy on their website, which indicates they are only interested in having your money. They only discuss the advantage of depositing money. Moreover, they brag of having the best account managers in the industry, although there is no method to verify their allegations.

If indeed the Ponzi scheme has a team, they should credit them and publish their qualifications on their website. Unfortunately, Finbitex wants to stay anonymous when they defraud innocent traders. What we are interested in is how they are running their business.

Finbitex review

Finbitex the platform is not a crypto exchange but a CFD broker. What they are offering is not so appealing as better companies are offering better deals. The only credit we can give them is their ability to disclose the actual services that they are offering.

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Finbitex.com Review,Finbitex.com Platform

To trade in this platform, you will use their web-based interface. It has the advantage of providing a trading chart for their clients. The company brag that they are the best in the market, yet they do not offer any evidence.

Unfortunately, we do not think there are any investment services taking place on this website. They do not talk about the leverage and spread that they offer to their clients. It would be best if you ventured with transparent legit investment firms.

You should not invest in any company without revealing their trading condition. Finbitex does display the cost of their trading. They do not have any performance report or managerial reports that we can use to see how they have been doing in the industry. If there are no numbers, we cannot believe them blindly.

The person who is responsible for writing the content of Finbitex did a very shoddy work they have put up some of the fees at the term and condition page. You will struggle before you find it. We realized the company offers a spread of 1.16 pips on BTC/USDT. The range is not that bad. However, some firms are offering even better than Finbitex.

Additionally, the firm charges a fee of over 1% as clearance of the treads. The company is making much money from investors in the name of the initial capital. The company is an offshore company that is charging an unrealistic amount.

There are reliable firms that are taking as low as $100. Without any proof of earning the scammers should be ashamed of themselves for running a vague platform. Considering almost all online investment ventures, ask the trader to deposit money that they can only afford to lose.

Regulation and Customer Support

RedSunrise LTD is running the company. The location of the institution is Sofia, Bulgaria. As you can see, this is an offshore investment company. The danger that comes along with such firms is very severe.

Majority of these Ponzi scheme system collapse with investors’ money. They are not registered by the Local Financial Supervision Commission (FSC). The company is clearly without having authority. Serious investment firms will always strive to meet the requirement of the regulatory bodies.

It is only the pyramid schemes that are operating using shortcut methods. Keep off entities like Finbitex. The support of Finbitex has unethical and unprofessional customer support who will never get back at you, especially if you want to withdraw. The people behind the operation of Finbitex is Tompolex LTD.

The company claims that it is running their business legally as they have a license as well as a registration document from Marshal Island. The area has gained much popularity due to its essential requirement to register and regulated investment companies.

Multiple Ponzi schemes claim to be located in the area. Venturing with such platforms, it is risky, and it does not amount to anything. It is important to note that foreign regulatory bodies do not mean much as they do not oversee the operation of the investment companies.

It would be best if you ventured with a company that has licensed by the FCA, ASIC, CySEC or NFA. Your funds and personal data will be secure. Moreover, we also could not find the exact location they are operating from. The platform is running in a murky method which raises more suspicion.

Finbitex Complaints

Finbitex is operating illegally. During our research, we were able to get an insight into how this company operates. For starters, this should not be your choice of investment firm. The customer support is very professional when they want you to cash in.

Sadly, when you request for the withdrawal, they stop responding. Additionally, your account will be closed, and you will no longer have access to your money. They will withdraw all your money, leaving you with nothing.

You will not be able to trace your money, and not even law enforcement can help you. Investing with a Ponzi scheme will destroy your trust, and you will never give another valuable chance to anyone else.

Funds Safety

The domain name is only registered for a period of one year which we do not expect they will renew. Considering how they are running their activities, they do not want to take any risk. Hence information regarding the CEO or founder is hidden from members of the public.

Additionally, they do not have much traffic that is coming into their platform, which makes us have a cold fee. The company should not be trusted at any given a chance. Furthermore, they are an offshore platform that will exit the market without your knowledge.

You should also not turn a blind eye on the negative review that they are receiving from those who have engaged with them. If the company is indeed the best, then we should see many clients endorsing their services while this is not the case.

You should ask yourself if Finbitex is worth your money or trust. Cryptocurrency is not a get quick rich scheme. Patience is one of the significant aspects that you should have. As always, the safety of your money should be your top priority.

Final Verdict

Finbitex is a full-blown pyramid scheme that is only after users’ money. The platform has hidden charges that they burden their clients with and maintenance fee for maintaining their system.  There are better digital currencies companies with a good reputation in the industry.

You need to be very cautious if you are investing online and especially if you are a newbie. The scammers are waiting for you to steal your last penny. Ensure you get adequate knowledge that will boost your skills.

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