Reading Time: 2 minutes SCAM RECOVERY

FINQ Review 2021: Unregulated Wing of a Complex Trading Group

Jan 27, 2021 , ,
FINQ

FINQ forex and CFD broker is one of the brokers that Lead Capital Corp Ltd operates. The company has been operating in Seychelles since 2014. They are a subsidiary of the large group, Trade Capital Holding, which includes Lead Capital Markets Ltd, a CySEC registered firm. It is generally a cause for concern that a company will operate brokers out of two subsidiaries, one regulated and one unregulated.

Trading Conditions at FINQ

In contrast to a broker like Bitky.io, which requires only $250, the minimum deposit to open an account with FINQ is $1,000. This is shockingly high for an unregulated broker. Because of the increased risk, most such brokers have very low deposits. Trading is through the popular MetaTrader 4 platform. Due to their lack of regulation, the broker is able to offer high leverage of 1:300.

FINQ Review 2021

Warnings Against Other Brokers in the Group

Given that the broker is part of such a complex corporate structure, it’s not surprising that our FINQ review had to do some digging to find regulatory warnings. There aren’t any against FINQ specifically or even Lead Capital Corp Ltd. Instead, a warning from the Quebec AMF is against Finexo. The other subsidiary, Lead Capital Markets Ltd, operates this broker.

Above-Average Selection of Assets

The broker has a pretty good selection of assets. Their CFDS include stocks, commodities, and so on. In addition to the standard options, the broker has a good number of cryptocurrency and ETF options. However, these options are in service of terrible spreads, about 2 pips on the EUR/USD pair.

Secure Your Money Sooner

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