Finexoinv Review: A CONSOB-Blacklisted Platform

  • Contact and support
  • License and Registration
  • Safety of funds
  • Trading Platform
0.9

Summary

CONSOB already issued a warning regarding investing with Finexoinv. Your funds are far from safe as the platform rips off investors. Find out more in our comprehensive Finexoinv.io review.

According to Finexoinv, the future of trading is on their platform. That could be true if only there weren’t a warning from CONSOB. With a notice out, it’s clear the platform doesn’t have any footing in the industry. The Italian regulator acted quickly to prevent investors from losing funds with the platform. From the onset, it’s clear to see that Finexoinv.io is an exit scam. Such platforms come and go. Here’s more in our detailed FINEXOINV REVIEW.

About Finexoinv

Finexoinv Review: Pros and Cons

On their about us page, Finexoinv claims to be one of the world’s renowned CFD providers. We surely haven’t heard about them, and their reputation hit the fan. The platform is already under scrutiny from other regulators.

With their claim of providing cutting-edge trading platforms, many investors signed up. It’s during withdrawal that these investors rued the decision of signing up. You won’t get to withdraw even a penny from the platform.

When trading with volatile products such as crypto, you need advanced trading tools. Go for proven crypto trading bots backed by experts and the trading community. We advocate for innovative crypto bots that are accurate and perform exceptionally.

After signing up with Finexoinv, the platform will likely drain your account. We have a platform that seems to change tune with every single investor. The many excuses as to why members can’t withdraw must come to an end.

With the platform’s aesthetic appeal, we get why investors signed up. At a glance, the platform looks genuine. But it’s not until you hit the withdraw button when all hell breaks loose. And this is where we come into play to expose the platform.

You need to pay extra attention to the platforms you choose when trading. Do some thorough research before committing funds to such platforms. Make sure to check with others and confirm the legitimacy and proof of withdrawal.

Accounts Finexoinv

Finexoinv offers five account types for investors. These include Micro, Classic, Silver, Gold, and Platinum. Each of these accounts comes with a different set of features. One of the most notable features is the welcome bonus.

Let’s take a closer look at each of these accounts;

Micro

With the micro account, members get a welcome bonus of 10 percent. The acceptable minimum deposit is $1,000. What you get for this large amount is just basic trading information. There’s no info on leverage or spreads.

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Classic

For the classic account, you have to deposit $5,000 to get started. After that, you get an advanced market introduction and a 20 percent welcome bonus. Other additional features include live sessions and trading signals.

Silver

You have to deposit a minimum of $20,000 to get started with the silver account. There’s a welcome bonus of 40 percent with members getting advanced live sessions. You also get a personal business plan coupled with flexible spreads.

Gold

There’s a minimum acceptable deposit of $50,000 with the gold account. The welcome bonus is 75 percent which means you get over $25,000 in bonuses. Now that’s a red flag as there’s no platform on earth giving away such a large bonus amount.

Platinum

It’s the most basic account, with members getting the full educational package. The platform targets institutional clients as the welcome bonus are above $100,000. What’s weird is that the account offers market psychology trading.

Accounts Finexoinv

Account Features

We must mention the over-the-moon minimum deposit set by the platform. Regulators all over the world set a minimum acceptable deposit of $250. So we don’t understand why the platform would go beyond the recommended amount.

There’s also no information on available leverage for trading instruments. In Europe, the recommended maximum leverage is 1:100. Retail traders in the United States enjoy a cap of 1:50. Any platform setting higher leverage puts your investment and position at risk.

Available trading assets

There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and shares. In addition, you get to trade household commodities such as coffee and cotton.

We know that the market is ever volatile when it comes to crypto. And it makes sense to trade in such a market environment. The platform pairs leading cryptos with major currency pairs. You get to trade cryptos such as Bitcoin and Ethereum.

The platform sets different leverage and spreads with forex trading depending on the account type. You also get major and minor currency pairs with no exotic pairing. Forex trading happens to be the core of the platform’s activities.

Indices give traders a chance to trade on the world’s stage. You get to trade with markets such as DAX, Dow Jones, NIKKEI, NYSE, and more. In addition, traders learn how global prices affect daily expenses for goods and services.

Shares make up a large chunk of trading activities. Traders get to own a piece of a company for a limited time. Selling your shares will also give you an insight into how companies manage their day-to-day business.

Bonuses

There’s a welcome bonus available on the platform. It’s likely the reason why most investors signed up with the platform. Unfortunately, most don’t realize that the bonus is a trap set for investors. As a result, you will probably lose your funds after the platform rolls out its plan.

Regulators are against platforms that offer bonuses and commissions. These platforms will use the bonus to ransom your account. You won’t get to withdraw funds unless you fully pay the bonus amount.

Imagine the account holder who gets a 75 percent bonus. There’s more than $25,000 in bonus to pay. The platform demands that you pay in full even to allow withdrawal of $1,000. Why issue a bonus if you will later ask for it?

Business owner

STRAT LTD is the parent company that owns this platform. CONSOB issued a warning for all subsidiaries owned by the platform. There’s not a single business registry record found under the mentioned company.

And this gives you a lot of data concerning what to expect with the platform. You need to avoid anonymous platforms at all costs. These are exit scams that rip you off and shut down the website.

Contact and customer support

Are funds safe with finexoinv.io?

Despite claiming to be the best in trading, their support is rubbish. Even after sending several emails, we didn’t get any response. And that’s what members are facing even after depositing a large chunk of funds.

You need to test how a platform responds to queries before engaging. You will notice that the phone number the platform uses to contact members changes with time. It’s a red flag that shows a lack of trust.

Finexoinv License and Registration

Finexoinv is by far a risky investment platform facing a warning from CONSOB. Other regional regulators also plan to issue a warning regarding the platform, with a warning out. So it’s best to stay away.

You need to invest in reliable platforms regulated by proven institutions. These include ASIC, BaFIN, CFTC, CNMV, CySEC, FCA, NFA, and the SEC. These regulators work to ensure there’s a level playing field for all parties.

CONSOB WARNING Finexoinv

Funding methods

There are several funding methods, including bank and wire transfers. In some cases, the platform accepts crypto deposits. However, we don’t recommend anyone depositing funds to the platform.

Our verdict

With us exposing the red flags and a warning, it’s best to stay away from finexivo.io.

Try and invest with reliable crypto trading tools with a proven track record.

Feel free to leave a comment or email us with any queries.

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