Finexo Forex Broker Finexo Reviews & Trading Information
They do not, however, provide any sort of training, user forums, webinars, or forex news services. I started using the Finexo Demo platform on the web then one day it stopped working and I cannot use the MT4 platform. When I consulted with the livechat they said that I could still use the web platform if I opened a live account. Following their instructions i did so but soon worked out that the online application only leads to a mt4 platform account.
Finexo does offer some nice features to the retail forex trader. Registration is extremely easy and if you fund your live account by credit card you can be trading in just a few minutes. If you do not wish to use a credit card, they do accept several ways to fund an account, including Paypal, MoneyBookers, Neteller, Click and Buy, Liberty Reserve and Giro Pay, or via bank wire transfer.
When i learnt that this was the case went through many sessions with their consultants who said they helped me and I would get a notification on the how I can access the account via the Web. After a while I still get nothing from them so i decide to close the account. I have been trying to close the account now for more than 2 weeks.
Whatever we may say, the Finexo trading platform offer was a solid surprise. Besides regular Web trader, the broker offers MT4, which is always a pleasant thing to see. From what we’ve had a chance to see, MT4 is an advanced version adjusted to an automated trading system this company provides. Yes, the registration and deposit process is very easy and quick , but the withdrawal process is a bit longer and harder. Yes, they offer many methods to contact them, but when this reviewer attempted to ask questions and open a live account with them, it was difficult to get appropriate responses or answers.
- Finexo is the most criminal minded broker I have ever trade with.
- Multiple fake positive reviews have been submitted from Finexo’s office in Israel.
- The boiler room agents behind the scam claim to have a branch office in Frankfurt.
- Before we go any further, we just want to say that SuplexDeals, My24Coin and EqualityFin are fraudulent brokerage companies.
Overall, this retail forex broker receives a rating of 3 stars. And it is the only company wich give you from all its heart to let you learn and be the best trader ! If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
Chargeback Is Your Solution!
Their transaction costs are not that high and the service is quite good. FINEXO accepts traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, Maestro, Skrill, Neteller, and other payment methods. After conducting some research on various social media platforms , as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with Finexo.io.
Let us know if you’re experiencing Finexo login issues for more than a few hours. This probably means your funds are at risk and we need to react as soon as possible. As mentioned, finexo.io is not anyhow related to a legit company from Cyprus. In fact, it’s owned by STRAT LTD from Saint Vincent and the Grenadines and has no license.
Needs to review the security of your connection before proceeding. Our chargeback specialists will help you find the best solution for your particular case. Instead of giving up and letting scammers run with your hard-earned money, contact us via online chat and book your free consultation. As we’ve mentioned multiple times, SVG has no official financial regulator but an FSA that registers trading firms and directs them to opt for the regulation in the country of service.
Fees & Commissions
On the other hand, Web trader is a typical TradingView chart with fewer indicators and chart types. Before we go any further, we just want to say that SuplexDeals, My24Coin and EqualityFin broker finexo are fraudulent brokerage companies. While thinking to yourself that Finexo is a regulated Cypriot broker safe for investing, you should know that today we will be speaking of an imposter.
The two main perpetrators, Avi Itzkovich and James Henry “Jack” Wygodzki were arrested and have been on trial in Germany since October 2022. While in pre-trial custody in Germany, Wygodzki filed a lawsuit against his former Israeli lawyer Guy Yuval alleging that he stole about 2,300 Bitcoins (currently worth $53M) from him. Together with Zvi Appel, Yuval runs Opal, a payment processor in Singapore. FINEXO provides clients with some useful trading tools, such as the Economic Calendar, which shows scheduled economic events and their expected impacts on the financial markets. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world.
Spreads and commissions vary depending on various trading accounts. Silver accounts offer a spread of 0.6 pips on Gold, 1.9 pips on EURUSD, 1.9 pips on USDJPY, and 5 pips on DJ30. Gold accounts offer a spread of 1.5 pips on EURUSD, 0.56 pips on Gold, 1.5 pips on GBPUSD, and 4.5 pips on DJ30. Platinum accounts offer a spread of 1.2 pips on EURUSD and 0.5 pips on Gold, and the spread of DJ30 is 4.0 pips. The spread of Gold in the exclusive account is 0.4 pips, EURUSD 1 pips, GBPUSD 1 pip, and the spread of the DJ30 index is 3 pips. A great company …..safe secure and great costomer service they have signals and SMS service trading ideas a lot of things and a great platform the meta trader 4 ..
But when I change the conversation asking her why my account was been block suddenly she says good bye in a hurry. Please read Finexo Reviews below and share your live trading experiences with this CFD broker. Trading accounts were migrated as is, with all open positions and no effects on your current trading, your trading history, or the assets that are available to you. Using a trustworthy service such as MyChargeBack is critical in this endeavour as a typical chargeback process can often be complex and drawn out without the right guidance. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – is available 24/7 and has helped consumers all over the world recoup millions of dollars.
They are a dealing desk retail broker, and as such, they take the other side of all of your trades. The platform is not customizable, but all the features a trader needs is right on the front page. Account reports can be viewed and printed from this application as well.
Since then I have not heard from them again and it has been about 1 week. You must understand that Forex trading, while potentially profitable, can make you lose your money. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. Here are the points where this broker’s services raise some red flags. After speaking to the chat representative from their site, it became apparent to me that they do not have the standard demo account, present in most current forex brokers.
Based on this user feedback, it appears that Finexo.io is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform. Aboutcurrency.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or https://forex-reviews.org/ reliance on such information. Since Finexo proved itself to be an unreliable Forex and CFD provider, there’s no reason to put your funds into the company. All you will get is an unregulated trading scam that will extort your funds and disappear. Finexo has been in the retail forex broker business since 2003 and a white label of Saxo Bank since 2004.
The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other users who have already used the same service, and have expressed their opinions and feedback online on various forums. If you have experienced the following with Finexo , it’s more than likely that you have been tricked or are involved in a scam.
I was told that if you sign up for a full account, you also receive a free demo account to practice. It later became clear to me that this is not the case, and you can open a demo account via their site. FINEXO provides traders with two trading platform options, WebTrader and MT4 trading platform. MT4 trading platform has powerful charting tools, a large number of built-in technical indicators, and supports traders to create their own trading strategies. FINEXO platform to provide financial trading assets covers foreign exchange, stocks, indices, cryptocurrencies, commodities, bonds, exchange-traded funds.
If they are not willing to answer questions of a potential new client, how good is their service going to be afterwards? A Finexo representative explained to me that the long withdrawal process is to protect their users from fraud. This is of course a positive initiative, but they need to make the process a little more user friendly.
ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Multiple fake positive reviews have been submitted from Finexo’s office in Israel.
Finexo is the most criminal minded broker I have ever trade with. The same criminal that owns finexo, owns markets.com, forexyards and some hiding scam brokers he have been opening. Their platform is called ForexTrader and is derived from Saxo Bank’s saxotrader. It is a web-based trading platform that is very user-friendly and suited to both beginners and experienced traders. One-click trading is offered, along with typical market, limit and stop orders, and trailing stops. As with most web-based platforms the charting capabilities are very basic and do not offer many features.
WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located. FINEXO customer support team is available to give instant responses to traders’ inquiries through telephone, email, and Live Chat. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. But when I try to fake my username chat support works and even teach me how to deposit.
Forex Broker’s Bonuses
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification. This will tell you whether they are regulated by a central authority or if Finexo.io is an offshore and/or unregulated entity. Let our chargeback experts provide you with free instructions on how to recover funds at your bank.
The scam attacks victims in English, Italian, Spanish, German, and Russian. The Finexo () scam is also still active and attacks European consumers. As one of the leading online Forex brokers, Finexo is committed to making sure each of our clients has the tools and knowledge needed to become a success at Forex Trading.
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. Finexo offers a wide range of assets and an MT4 trading platform, including mobile operation.