Reading Time: 3 minutes SCAM RECOVERY

Finexico Review – Be Careful With Forex Broker

Jul 7, 2021
Finexico FX and Crypto Scam

Trying to make itself legit, the Finexico broker just put on itself more investigations and ended up blacklisted. The company had an idea to hide behind other regulations and scam clients. Yet, it never works.

For more details on Finexico online trading conditions, stick with our honest & profound review till the end.

Broker status:Unregulated Offshore Broker
Regulated by:No Regulation (Unlicensed Brokerage)
Blacklisted as a Scam by:CNMV (Spain)
FSMA (Belgium)
CONSOB (Italy)
Broker Owner:Harmonte Group LLC / SLN Development Ltd
Headquarters Country:Saint Vincent and the Grenadines & Cyprus
Foundation year:N/A
Trading Platforms:WebTrader
Finexico Minimum Deposit:$250
Cryptocurrencies (Crypto Assets):Available
Available Trading Assets:Forex (FX), Commodities, Indices, Stocks, CFDs, Futures, Bonds, Cryptos
Maximum Leverage:1:500
Islamic Account:Not Available
Free Demo Account:No
Accepts US clients:Not Accepted

Finexico Regulation and Licensing Details

Obviously, when you start trading, you want to know that you’re in the right place. That’s why you want to know is Finexico a regulated and legit operation. It’s a brand of Harmonte Group LLC from Saint Vincent and the Grenadines. This same brokerage operates under the names Finexics and Finotive as well.

However, the company went white label and got coverage from SNL Development Ltd from Cyprus, claiming it’s CySEC regulated.

Questions to Finexico License and Regulation 

As a broker from Saint Vincent and the Grenadines, it should be registered with FSA. After reviewing their register, we can say the broker cannot be found there. Yet, the CySEC register does not hold any records of SNL Development Ltd nor the Finexico broker. 

It all means this brokerage is one big scam you should avoid at all costs.

Furthermore, you should avoid scammers such as LPL Capital, Finvesting and TradeFCM.

Scam Warnings Against Finexico – Regulators Warns

Being a fraudulent broker always brings certain risks from being exposed. If too many clients file a complaint, eventually, regulators will react. This time, the first one was Spanish CNMV, issuing an official warning against the Finexico broker, stating it’s a scam that claims to be from Cyprus and belongs under EU passport.

This warning was followed by the same one from Italian CONSOB and Belgium FSMA.

Finexico Reviews – What Traders are Saying

If you take a look at Trustpilot, for example, you will see that the broker has a rating of 2-stars. More than 90% of traders marked Finexico forex brokerage as bad, giving it only 1 star. 

According to these Finexico reviews, withdrawing money from the broker is nearly impossible and can only cause you a lot of stress. Nothing good comes up from investing with scams.

Finexico Trading Platform Review

The Finexico trading platform is not even worth a talk. It’s a proprietary WebTrader that does not satisfy any criteria. There are almost no indicators, and it looks like a TradingView chart with a couple of buttons attached.

The leverage broker provides is up to 1:500, while the spread is higher than usual. If you are looking for a reputable platform, find a brokerage with an MT4 or MT5.

Finexico Assets

Assets You Can Trade With Finexico Broker

Despite statements that there are over 450 assets available, we wouldn’t choose this broker. There is a wide range of assets, currency pairs, commodities, indices, futures, bonds, shares, and cryptocurrencies.

However, Finexico minimum deposit is $250, and that’s too much for an unregulated offshore scam.

Scammed by a Finexico broker? We Know What to Do!

Global Fraud Protection recently received numerous complaints about the broker, all mentioning withdrawal issues and login issues. Therefore, we can assure you that you’re not the only victim of the Finexico scam.

Let us know what happened, and let us help you out. We can guide you through a refund process. Contact us via online chat, tell us your story, and our staff will book a free consultation for you. Let’s get your money back now!

Don’t Let the Scammers Go Away for Free!

What is Finexico?

It is an online trading brokerage without proper regulation.

Is Finexico regulated and licensed?

Broker does not have any kind of license or regulation for providing financial services.

Is Finexico legit and reliable?

Broker is not regulated, meaning not a legit nor reliable trading brokerage.

Are My Funds Safe with Finexico?

Since the broker is not regulated, your funds are not safe with Finexico.