FinXForex: reviews from real traders, overview of trading opportunities
Main features of FinXForex
FinXForex company claims its readiness to provide traders with high-quality service and opportunities for passive income. It positions itself as a high-level international intermediary. However, the lack of evidence and insufficient number of reviews raise doubts about the reliability of this company. We analyzed the activities of FinXForex and tried to understand why it remains relatively unknown.
Evolution of FinXForex and brand history
The broker’s official website looks somewhat sloppy, with insufficient information and inactive elements. The service description seems standard and lacks specifics. The domain finxforex.com was registered relatively recently — in February of this year. This fact supports the idea of the company’s recent establishment.
A closer look at the website reveals signs that it is a suspicious project. For example, the “About Us” section points to another organization named Uniontraders LTD. The Risk Disclaimer document shows a connection to limexclub.com, which was previously owned by the LimexClub broker. Both of these companies had a questionable reputation and were closed due to defrauding customers.
In reality, FinXForex represents a similar fraudulent entity. The lack of real registration information, the absence of references to jurisdiction, or the presence of legal documents indicate that this platform is not legitimate and may pose a danger to investors.
Legalization of FinXForex in Russia
The absence of information about a license on finxforex.com suggests the lack of official recognition of this broker. Previous FinXForex projects also did not have the necessary permissions, contradicting the legislation regulating financial intermediaries. Uniontraders even ended up on the Central Bank’s blacklist, prompting the creators of the new platform to quickly launch a new deceptive project.
Currently, despite FinXForex’s relatively short operating period, there have been no publications of reviews about its activities. However, the absence of complaints is not yet proof of the legality of the company’s operations. Investors should understand that dealing with an illegitimate intermediary carries serious risks, up to the loss of all invested funds.
Trading conditions in FinXForex
Scammers promise their clients the opportunity to earn large sums of money through trading, offering the following advantages:
- Leverage — from 1:200 to 1:1000,
- Tight spreads — from 0 to 0.5 points,
- Wide range of financial instruments,
- Minimum entry threshold — 100 euros/dollars.
There are three types of trading accounts available with different initial deposit sizes (100, 5000, and 100,000 units). The broker offers trading in currencies, cryptocurrencies, commodities, stocks, and indices.
Clients are offered trading on the ActTrader platform, but instead of a legitimate version, the website offers a “fake” one. The link to download the mobile app suggests installing ActDroid, and opinions about this program can speak for themselves.
The link to download the desktop version is non-functional. Probably, scammers provide the installation file only on request, potentially slipping in malicious software.
Client reviews on FinXForex
Since the company is not popular, there are almost no reviews or comments online about it. Assessing FinXForex’s reputation is challenging due to the lack of information. However, in the event of reviews appearing, we will update this information.
Scam mechanism in FinXForex
The project organizers did not show much concern for the quality of the platform, instead offering fake trading platform simulators to deceive clients. Opening an account at FinXForex essentially means transferring funds to scammers. Virtual money appears in their account, which is then used to carry out operations.
FinXForex administrators can freely manipulate clients’ accounts, change indicators, block trades, move stop losses, and so on. Meanwhile, the trader believes they are participating in real trades, unaware of their dishonesty.
Even if the deception is realized, the client cannot recover their funds or cancel the transfer. Reviews warn that scammers use crypto wallets, making refunds technically impossible.
Expert assessment of FinXForex
FinXForex is another example of fraudulent activity, a reincarnation of the criminal projects Uniontraders and LimexClub. By using fake trading software, FinXForex organizers deceive their clients. The company has no legal activities, meaning that in case of fraud, retrieving the money will become nearly impossible. Do not trust FinXForex — they are fraudsters engaged in direct swindling.