Finestro: customer reviews about the company’s performance in 2024
Reliability of a broker firm and Finestro
The presence of correct documentation is an indicator of the broker’s reliability and honesty. However, scammers cannot obtain a license from respected regulators, so they resort to fake regulatory bodies. They hope that clients simply won’t pay attention to this. Today we will look at one such case – Finestro. In this review, you will learn the results of the analysis of legal documents, commercial conditions, and be able to familiarize yourself with the opinions of real clients.
Main aspects of Finestro
Finestro is characterized by the following data:
- 12K active users,
- more than 115 million dollars invested,
- 90 million dollars under management,
- broker rating – 4.8.
Of course, there is no evidence that the company actually possesses such characteristics and deserves trust. Feedback about it has a negative connotation. By studying Whois data, we found that the finestro.org site has been active since the end of September 2023. Scammers are only doing PR and actively attracting new clients.
Based on reviews, one should not expect support from the support team in solving current issues. The only real communication channel on the platform is the email address. Scammers use email to collect personal information about users. In the future, this data can be used for new scams and resale to colleagues on the darknet.
The question of who leads the fraudulent organization remains in the shadows. Swindlers preferred to remain anonymous, as they do not want to take responsibility for the financial damage caused to users.
Regulation in Finestro
Documents confirming the broker’s legal basis for activities could not be found. However, the homepage states that the company is authorized by the European Financial Security System (registration number HE212987). It is also claimed that Finestro is regulated by the Canadian Financial Industry Regulatory Authority (CADFIRA) under number BRL243746. The verification links are active, but one of them is not working. The other link states that Finestro has been regulated since 2016, which is impossible, as the company did not exist at that time.
In addition, CADFIRA is a fictitious regulator with many negative reviews. This phony regulating body assists financial fraudsters, working together with them.
In the UK, the only real regulator is the FCA, but Finestro does not appear in the list of licensees:
Commercial proposal
The company offers trading opportunities in Forex currency pairs, stocks, commodities, stock indices, CFDs. Several tariff plans are available, but there is no demo account. The broker suggests starting investing right away. Commercial proposal features:
- use of MT4, Webtrader, and mobile app as trading platforms,
- market execution,
- minimum entry amount – from 1000 dollars,
- minimum position size – 0.01 lots,
- leverage – up to 1:200,
- no commissions.
Users claim that the platform is solely focused on fund attraction. From this, it follows that it is almost impossible to withdraw even your own funds.
Reviews about Finestro
According to reviews, we are dealing with typical scammers specializing in psychological pressure, financial blackmail, and trading manipulations. You can read the opinions of other users to draw your own conclusions.
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Schemes of deception in Finestro
Finestro offers novice traders mentorship services. According to the legend, this professional should help in trading and increasing capital. However, in practice, he only contributes to the budget robbery. The mentor will convince you to install remote access software to gain access to the trader’s capital. And as soon as this happens, the user’s money will be immediately lost. In this way, you can lose several thousand dollars.
Results of comprehensive verification
We recommend refraining from cooperating with Finestro, as this company operates without legal documentation and is not willing to fulfill its obligations honestly. Here, you risk being left without a cent in your pocket. Turning to regulators is pointless, as they are powerless in combating anonymous scammers.