Financial Resident Review: Is the Platform worth Traders Trust?

Financial Resident is a forex and cryptocurrency broker that has less than a year in the market. This company claims to be your best option to make money in the financial markets. They provide brokerage services for both traditional and cryptocurrency markets. They promise to remain committed to ensuring you are a successful trader.

However, this is nothing but a lie. This company has no interest in serving the financial needs of its clients. It is only in the market to steal people’s funds. We can assure you that there are no professionals in this company. These are individuals who have no knowledge or experience of how the markets work. Save yourself some trouble and avoid this company like the plague.

The best way to avoid scams like this company is by doing enough research before you invest. There are thousands of companies in the market at this moment. Sadly, most of them are fraudulent and illegal operations.

Nonetheless, there are many legitimate forex brokers in the market. Only such companies can provide you with the services you are looking for. They have been in the market long enough and have professionals behind them.

Financial Resident Review

Financialresident.com will have you believe that they have a sophisticated trading platform. The team claims to have a proprietary platform that operates based on complex algorithms. On the contrary, there is no real trading platform on this website. The only thing here is a chart that is not hooked to any trading platform. There is no way to execute any trades.

We can assure you that legitimate companies do not operate in this manner. They will provide some of the best trading platforms for their clients. This includes platforms such as the MetaTrader 4 and MetaTrader 5 platforms.

Moreover, the website barely tells you what the company offers. You will only find a plethora of statements that mean nothing. These people are only marketing the product, and we do not even know what product they are offering.

Even worse, this company claims to offer professional trading assistance. However, they do not introduce us to any of their professional traders. You should never take financial advice from people with unverifiable identities.

This is just their way of tricking people into surrendering their account information. They want you to believe that they can help you manage your portfolio. They will end up stealing all your money, and you will never hear from them again.

Financial Resident Investment Plans

There are four main account types on financialresident.com. These include the Ripple, Ether, Bitcoin, and Luxury account. As you can see, they are naming their accounts after cryptocurrencies. This is just a poor attempt to ride the cryptocurrency hype train.

The Ripple account accepts a minimum deposit of $250. This account gives you a minimum trading volume of 0.01 lots. Additionally, clients get fixed spreads from 0.5 pips. Further, the maximum leverage for this account is 1:100.

The Ether account accepts a minimum deposit of $15,000. This gives you a minimum trading volume of 0.5 lots. Additionally, clients get maximum leverage of 1:200. The spreads remain at 0.5 pips.

The Bitcoin account accepts a minimum balance of $100,000. This gives you a minimum trading volume of 1 lot and leverage of up to 1:400.

The luxury account expects an enormous balance of $1 million. The minimum trading volume is one lot, and the leverage is 1:400. Essentially, there is no difference between Bitcoin and the Luxury account. Moreover, these accounts are not the cheapest in the market. You should never invest such enormous amounts in shady companies like this one.

Financial Resident Customer Support

Never invest in a company that cannot offer you reliable customer support. Such companies are more likely to be scams. Financial Resident is one of such companies. While they promise world-class customer support, they fail to deliver.

Financial resident provides two numbers that you can reach them through. However, many people have reported these numbers for spam calls. A lot of people are catching up to the fraudulent nature of this company. Therefore, these numbers are out of the window.

The only other means to contact this company is by emailing them via support@financialresident.com. Additionally, you can fill out a contact form on the website. Sadly, such communication channels can go unanswered for days. Moreover, the company does not give a timeline on when clients should expect responses. This means that there is no guarantee that they will answer you. Customer support is an essential service, and companies should make it a priority.

Founders and Physical Location

You always want to know whose hands you are putting your money in. Therefore, it is necessary to confirm the identities of the people behind a company. This is a great way to avoid individuals with criminal backgrounds.

Unfortunately, Financialresident.com does not introduce us to any of the team members. There is no telling what the history of these people looks like. Fraudulent companies are constantly rebranding under new names. Therefore, it is important to avoid running into the same scammers over and over again.

Even worse, this company wants us to take financial advice from unknown individuals. This is absurd and unheard of. You should only take investment advice from licensed individuals with verifiable identities.

Further, we have no idea where this company pirates from. This is because the team did not see the need to give us this information. This is a common characteristic of fake companies. They do this to avoid getting tracked down by the law.

Regulation and Fund Safety

When looking at the regulatory status of this company, we found a huge red flag. This company is operating without a license from a relevant regulatory body. This means that they are an illegal operation in most jurisdictions. Such companies cannot help you protect your investment. Avoid this company like the plague.

Regulatory bodies ensure that companies are not running illegal operations. Additionally, they check to ensure companies have the right banking setup for funds’ safety. This includes having segregated accounts in a reputable bank. This protects the client from losing money due to the company’s or bank’s financial status. Without regulation, there is no guarantee that these measures are in place.

Moreover, there is no evidence of systems’ protection on financialresident.com. There is no SSL certificate or any other relevant certification. This means that the systems are open for third-party intrusion. Hackers can easily access and steal your funds. Additionally, they can steal your personally identifiable information.

Final Verdict

We cannot, in our right minds, recommend finacialresident.com to you. This company does not have enough experience to claim they are the best in the market. Moreover, there are too many red flags about this company. They are one of the shadiest forex brokers in the market.

Even worse, we have no idea who is behind the operations. It is a bad idea to invest in unknown individuals on the Internet. Moreover, Financial Resident has no regulation. This makes it an illegal operation.

Save yourself some trouble and invest only legitimate forex brokers. Only such companies can provide you with a safe trading environment. Stay vigilant.

 

Tags: Financial Resident Review, Financialresident.com Scam Review