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- - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
- - Or is there an excessive delay in processing your withdrawal?
- - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?
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FinoTrend is on the warning list of the Belgian Financial Services and Market Authority (FSMA). This is a major red flag since the authority does not permit the scam to collect funds from their site then. You will be tossing your cell phone for a year if you did not take the warning seriously.
FinoTrend promises investors they will start generating profits immediately after signing up with the broker. The company claims it has made trading easy for novice clients. They brag about being secure, profitable, and transparent. The main aim of the company is to make investors successful. However, after thorough research, we realized this is a complete waste of time platform that you should refrain from dealing with.
The venture states it has an award-winning trading interface. It is powerful and intuitive, and all investors can use the platform. The firm states it has a tight spread and does not charge commission. Some of the available assets include CFDs and Forex.
FinoTrend assures customers it does not charge any hidden fees. They execute a trade at lightning speed and have a wide range of trading options. One may think that the broker is after the well-being of the client. It allegedly claims that its main purpose is to understand its customers’ goals and help them grow.
This is a bold claim coming from a discreet investment entity. The venture has failed to provide sufficient information regarding how it plans on attaining mind-blowing profits. The mechanism the broker utilizes remains unknown.
FinoTrend registration process requires clients to provide their government-issued identity cards. Later on, you can deposit funds and start trading. You should note that trading is not a child play activity. Therefore you need to have outstanding skills to thrive in the industry.
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The first thing you should do is educate yourself on trading matters by researching online. Through training and learning, you will improve your trading skills. It would help if you also were mindful of scammers as the industry is populated with con artists. The swindler uses enticing information to trap more victims.
In most cases, they hide behind technology. They will claim to have a superior trading interface when no trading activities are happening on the website. The clients can trade energy, futures, shares, commodities, forex, indices, and metals.
FinoTrend claims it has partnered with reputable investment platforms in the industry. However there is no proof to their statement. We mainly suspect the broker is using this information to trap more victims. The lucky years of experience and you will not attain your goals if you choose to invest with them blindly. Try out these leading forex trading companies that have a past trading history. They also offer top notch security to customers. They minimize the risk while maximizing the profit of customers.
Trading Conditions of FinoTrend
Web trader platform is not an award-winning interface. However, the platform you will be installing appears to be a suspicious link. You may be installing malware that could harm your gadget. There was no trading taking place in the shady company.
FinoTrend claims it has competitive spreads, yet they do not provide more information. Without having trading conditions, investors will not know what they are signing up for. The leverage being offered is beyond what the regulatory body of the European region permits. A licensed company will only provide 1:30 leverage. We also learned the company does offer bonuses to clients. The watchdogs lucratively ban these.
Withdrawal and Deposits
The deposits can be made via bank wire and credit card. There are five trading accounts that you can choose from. The least amount 2 deposit is 5,000 EUR. The broker is overcharging its clients, and we do not recommend venturing with them. The average market standard that you can deposit ranges from $10 to $250.
FinoTrend allows a minimum deposit of $50. Legit platforms will allow you to cash out any amount that you please. The requirement for withdrawing the bonus is unfavorable. For the sake of your sanity, refrain from dealing with Ponzi schemes. You will never win, and most of their promises are vague.
Contact Details and Customer Support
It appears the only way to contact the company is via email. This is not a simple communication method for the safety of investors’ funds. A phone number is ideal as you can call whenever you have an inquiry.
FinoTrend does not have an office address. How can you trust such a platform with your data? We have several schemes violating the terms of their customers. Some even sell their information to a third party without traders’ knowledge. Scammers only look after their well-being.
Regulation Status of FinoTrend
The platform does not have a parent company or a regulatory form. FinoTrend is operating independently without following the set guidelines. The company purports to be working from the European region. However, they are not under the European Securities and Markets Authority (ESMA).
FinoTrend is on the Belgian Financial Services and Market Authority (FSMA). This is a major red flag since the authority does not permit the scam to collect funds from its site. You would be tossing your cell phone for a year if you did not take the warning seriously.
If the venture exits the market today, you won’t receive compensation, and neither could you go after the fraudsters. We always urge clients to stick with regulated companies as they offer multiple advantages. A licensed platform cannot manipulate the market price, resulting in their license being revoked.
The information of individuals handling the funds of clients is availed. Hence, you will be assured that qualified and professional individuals are taking your funds.
FinoTrend is a company that has left many investors and satisfied their services. Clients are warning those tempted to join the scheme to stay away. The only intention of the scammers is to steal your hard-earned money. There’s no problem when you invest and deposit money. However, the real show starts when you request a cashout.
The customer support does not respond to investors’ messages. Once their sales rep reaches you, they only ask for more money for them to help. It appears The venture is only withholding payment despite constant complaints. It keeps indicating that the withdrawal is pending, and you should not waste your valuable time or resources with them.
Furthermore, the alleged account managers will cut all communication if you pay the requested taxes and fees. FinoTrend is an illegal venture that does not have a license. Ensure that you check what the investors of a company have to say. By learning from their experience, you will make an informed decision.
FinoTrend is not a transparent company. They claim to be fully regulated despite not having a single license. This is an anonymous scheme that will soon collapse and leave the market. They are using false information to market their bogus services.
Here is a list of legitimate forex trading companies. They have ideal customer support services and trading conditions. Any dispute that may arise will be resolved amicably and in case of insolvency traders have the assurance of receiving compensation. You have nothing to lose with these top-notch schemes.