Finartmedia Review: Finartmedia.com Fake Firm

Finartmedia is a suspicious broker. The foreign exchange market is just like any other industry. Thus, it is crucial to exercise sufficient caution when investing. Foreign exchange (FX) trading can bring both profits and losses. You need to put in a lot of training hours before you can start making money as a trader.

Many more people now have access to internet trading thanks in part to brokers. Using margin trading, a trader can enter the market with little capital. The only thing they need to do is fund the broker’s account. Traders can also use artificial intelligence bots to assist them in executing and monitoring trades. However, you should only use legitimate and reputable crypto companies. This is because numerous fraudulent brokers have cropped up. 

Most of these brokers have accounts in offshore regions, with fewer regulatory hurdles. Finartmedia is one such broker. This dishonest broker makes a living by tricking investors. It sounds excellent on the surface, but its guarantees of a high rate of return are entirely bogus. Despite the increased prevalence of government-enforced commercial regulations, con artists remain a persistent problem.

About Finartmedia.com

When you visit their webpage, you are greeted by a well-designed website. On taking a closer look, however, you realize that the company makes some claims which seem too good to be true. The broker says it is one of the best trading platforms in the world. We, however, noted that they had not backed this proclamation with any evidence.

Just because a broker says it’s global does not necessarily mean they are. The broker offers three accounts with different leverages. We, however, noted that they had not indicated the minimum deposit requirements. This is essential information every broker should provide. Some of the assets you can trade here are currencies, futures, shares, cryptocurrencies, energies, and indices. They also falsely claim to offer transparent services coupled with integrity and accountability.          

Finartmedia Founders and Team

In every business, there must be employees. One of the most critical ones is the leaders. The company’s CEO says a lot about an enterprise. For example, if the leader has a negative reputation, as a trader, you will desist from working with such a company. Also, the company must have values they abide by. These values are an integral part of a company if they follow them.

Finartmedia has not provided any information regarding who established it and when.  The closest they have come is giving a photo of some people seemingly discussing something in an office. There is no way to verify whether these are company employees or some image they just downloaded from the internet.

For a company that claims to have a global reach, one would expect that they have been operating for many years. This is not true. We realized from whois.com that the website was created on 2022-05-26 and is due to expire on 2023-05-26.

Contact Details

These are essential to any company. Whenever customers are involved, questions and worries arise, more so when it comes to finances. The high-stakes nature of trading forex necessitates round-the-clock access to the broker.

Keeping tabs on the market and your account balance is essential when trading. Traders have the propensity to overtrade. Hence it is the broker’s responsibility to inform them when their funds are getting low. It is crucial because it prevents investors from completely wiping out their accounts.

This broker has provided only an email and a phone number. Although these are good, they are not enough. Also, there is no telling if they will respond efficiently if you contact them.

Regulation Status of Finartmedia

The first thing we noticed about this broker is their location. They say they are situated in the Marshall Islands. There is a lot wrong with this. For one, the Marshall Islands is notorious for harboring scam brokers. Here, the region’s government does not regulate forex brokers. It is, therefore, difficult to tell who is legit and who is not. The people who run this brokerage firm are likely inexperienced traders. Thus, they do not know how trading works, and the business will likely collapse. When this happens, they disappear with clients’ money. Also, since they are unregulated, it is impossible to recover the lost money.                     

One of the tricks offshore brokers use is offering welcome bonuses. This is a red flag. As a rule, think twice before joining any venture offering such bonuses. The goal is usually to get you to sign up and steal your money. The broker has not provided legal details of its registration. Also, it has not mentioned any financial watchdog. In fact, they have not confirmed whether they are registered. For an international company like itself to omit this information, it means they are hiding something. A legit broker should also avail its financial reports so that traders can review their financial audits and key performance indicators. 

As a regulated broker, the company should provide the number of active clients. Simply saying it serves many clients globally is not enough. Licensed brokers present this data graphically to show their growth.  

Many regulatory bodies have strict requirements that brokers should meet. Some are financial, as the broker needs to guarantee the customer’s funds’ safety. Brokers like Finartmedia do not have the necessary financial muscle to fulfill these requirements. They, therefore, use offshore accounts where there are few legal restrictions. Many regulated brokers also have regional conditions. As such, they cannot offer services to some countries. This broker has, however, not mentioned anything about such restrictions.

Finartmedia Customer Testimonials

We didn’t find credible reviews from actual customers online. There should be a lot of praise and recommendations for them if they have helped traders as much as they say. There was also no social media presence for the company. They avoided having it because doing so would have betrayed their true identities. Another issue is that not every review about the broker can be trusted.

Questionable businesses may use fabricated customer testimonials to give the impression that they are legitimate. Don’t put too much stock in the information presented there. The only reviews we found were from some websites. In their reviews, however, they have not mentioned anything worthwhile. They have only praised the broker’s customer service, technical analysis tools, and account types. There is no mention of deposit and withdrawal procedures or even if the broker is licensed. These reviews are, therefore, unreliable.

Trading Software

A responsible broker should have a demo account for training. This one has, however, overlooked this critical aspect of trading. Also, it purports to offer a Web trading platform. This platform lacks the technical tools like the ones in MT4 and MT5 trading platforms. Most reliable brokers come with these advanced platforms to facilitate smooth trading and fast executions.

Deposit and Withdrawal Methods

At the bottom of the company’s webpage, they have indicated VISA and MasterCard. However, they have not explained whether the methods are for depositing or withdrawing money. In the Terms and Conditions, we noticed that the broker processes the withdrawals within 30 days. That’s an awfully long time to wait for your hard-earned money. Furthermore, there is no way of telling whether you will get the money even after the 30-day period of lapses. Any legit broker should ensure your withdrawal process is as quick as the deposit.              

Trading Conditions

The broker offers a very low spread. This is suspicious because the spread should not be constant. Even though such a tight spread is favorable for many traders, an experienced trader would realize it is too good to be true. One of the ways a broker makes money is the spread. Thus, it must not be too tight for all account types. This broker is shady in its claims; you should not trust them.  

Final Verdict

Don’t be deceived by Finartmedia’s outward appearance. This is a typical FX scam, and the broker will do whatever it takes to get their hands on your money. Investing with or providing personal information to this company puts your money and identity at risk.

Only sign up with legitimate and honest crypto companies if you want to trade realistically. They are many, and they avail all the necessary information on their website.

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