FinexTrader claims to be a regulated broker under multiple regulations including International Regulators & Brokerage E-Markets (IRBEM), Market Financial Authority (MFA) and Swiss Financial Securities (SFINS). However, none of the organizations mentioned has authority of regulating forex activities or issuing forex licenses.
FinexTrader also claims to be a UK-based company. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we did not find any results matched this broker in UK FCA.
Moreover, the Austrian Financial Market Authority (FMA) issued a warning that FinexTrader is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.
The truth is that FinexTrader is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
FinexTrader claims to be a regulated broker under multiple regulations including International Regulators & Brokerage E-Markets (IRBEM), Market Financial Authority (MFA) and Swiss Financial Securities (SFINS). However, none of the organizations mentioned has authority of regulating forex activities or issuing forex licenses.FinexTrader also claims to be a UK-based company. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we did not find any results matched this broker in UK FCA.Moreover, the Austrian Financial Market Authority (FMA) issued a warning that FinexTrader is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.The truth is that FinexTrader is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.