Thinking of getting into business with FINEXEY? Here is what you must know about this broker. Carefully read this review to find out if finexey.com is the trading platform you will want to trade with.
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About FINEXEY Broker
FINEXEY is an offshore brokerage company with a lot of promises for traders. The broker says it is located at Suite 305, Griffith Corporate Centre, P,O, Box 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines.
The broker offers fast execution, low spread, verified security, swift transaction and 24/7 support.
In spite the trading instruments FINEXEY claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
finexey.com: Reasons to Avoid This Broker
finexey.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as no financial authority recognizes the broker.
Another red flag we noticed on finexey.com is that it has no demo account for traders. Since traders can’t test FINEXEY broker on a free account, we can’t know its viability in the forex market.
Again, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
This is a con for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal, FINEXEY provides us with the following information. Here, the broker charges 20% commission which it says began 2020.
10% deduction is fined on an inactive account of 3 months.
Minimum Deposit
The recommended minimum deposit FINEXEY offers is $250.
As for the payment methods, we can make via Debit/Credit card and Wire transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
FINEXEY Platform
FINEXEY offers web based trading software. The refusal to make use of the industry standard MT4 or MT5 that comes with user friendly features for trading seems the broker is not ready to be taken seriously in the forex market.
Leverage can be increased up to 1:400. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
FINEXEY Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated claims are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is finexey.com a Reliable Broker?
finexey.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
