Finarix claims to be founded in 2016 as a provider of brokerage services in online trading, which is at odds with the fact. Actually, the domain of Finarix was created in 2019. Besides, this broker states that it is owned and operated by Zolarex Ltd, a company registered in the Marshall Islands with registration number 78978. We checked on the Marshall Islands Registry (IRI) and found the company is in its register. However, the regulatory status is abnormal and the official regulatory status is annulled. Most importantly, IRI does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So Finarix is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
Finarix claims to be founded in 2016 as a provider of brokerage services in online trading, which is at odds with the fact. Actually, the domain of Finarix was created in 2019. Besides, this broker states that it is owned and operated by Zolarex Ltd, a company registered in the Marshall Islands with registration number 78978. We checked on the Marshall Islands Registry (IRI) and found the company is in its register. However, the regulatory status is abnormal and the official regulatory status is annulled. Most importantly, IRI does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So Finarix is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.