FinuTrade Broker Review
- FinuTrade is essentially a fraudulent crypto investment company.
- you must deposit 5,000 MNT,
- Only a few assets are available through FinuTrade
FinuTrade.com Review – Open Your Eyes, FinuTrade Is a Scam
There is a relatively new crypto scam called FinuTrade broker. Fraudulent activities have already led to the firm being blacklisted in several countries. In this FinuTrade review, we dive into the details. Also,there are many reasons why you should not invest your money with them.
Read the broker reviews for NovaTechFX, Starekco, and SuperEther first to expand your trading knowledge.
- Broker status: offshore
- Provider Licence: Unlicensed/Unregulated
- Websites of scammers: FinuTrade.com
- Current Status: Active Crypto Trading Scam
- Scams blacklisted by: CNMV / Finanstilsynet / FSMA / CMVM
- Owner of the broker: Shadorte Ltd
- HQ: Saint Vincent and the Grenadines
- Year of foundation: 2021
- Platform: WebTrader
- Trading via the mobile browser/no mobile app available
- Deposit minimum: 5000
- Bonus on Deposit: N/A
- (BTC, ETH, XMR) Crypto Trading: Available
- Trading CFDs: Yes, you can trade CFDs
- Instruments of trade: Cryptocurrencies (Cryptos)
- Leverage maximum: N/A
- Islam Accounts: Not available
- Free Demo Account: No, only live accounts are available
- US traders are accepted: US traders are accepted.
- Scam Broker: Don’t Invest in It!
Is FinuTrade a Crypto Scam? – No Trade License
The FinuTrade Forex brand belongs to Shadorte Ltd, registered in Saint Vincent and the Grenadines in 2021.
The FSA has declared itself unauthorized to license firms trading in FX and binary options on this offshore island. In other words, FinuTrade should be regulated by Tier 1 zones and regulators such as the FCA, ASIC, and BaFin.
License providers in Tier 1 are the strictest, requiring brokers to follow strict rules and set up substantial compensation funds. According to UK and EU regulators, the minimum amount of capital must always be held by brokers to compensate potential victims. The regulator also requires companies to deposit compensation scheme funds. Due to its lack of licensing, FinuTrade does not offer a money-back guarantee.
Spanish CNMV Against FinuTrade Scam
It has been revealed by the Spanish regulator, CNMV, that FinuTrade is a trading scam. An authority body announced that the firm offers unauthorized financial services, including Forex trading and financial advice.
Belgian, Norwegian, and Portuguese newspapers later published the same warning.
Where Is FinuTrade Trading Scam Active?
FinuTrade’s owner was registered in April 2021, and the website has been active since July. Since then, the broker has mainly operated in the following areas:
- UK
- Spain
- Sweden
- Germany
- Netherlands
- Singapore
- Australia
What Can FinuTrade Scam Victims Do? – Start the Chargeback Process
In summary, acting immediately is crucial if FinuTrade has scammed you. If the broker disappears with your funds, ensure you get a refund as soon as possible.
Tracking the transaction is difficult since the company only accepts crypto deposits. Also,we may be able to assist you if you book a free consultation with one of our chargeback experts via online chat.
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FAQ Section:
1. What Is FinuTrade, and Should I Invest Money In It?
FinuTrade is essentially a fraudulent crypto investment company. Do not hesitate to contact us if you are not able to withdraw or if you encounter any other issues.
2. What Is the FinuTrade Minimum Deposit?
In order to open an account with the broker, you must deposit 5,000 MNT, or about 1.5 USD, as a minimum deposit.
3. Can I Trade Cryptos and CFDs With FinuTrade Broker?
Only a few assets are available through FinuTrade, and it is a scam broker.
4. How Long Do FinuTrade Withdrawals Take?
This is a scam sign because the company does not specify when withdrawals can be made.
4. Does FinuTrade Offer a Demo Account?
It is not possible to open a Demo account with FinuTrade. There are only 5 Live accounts available.
