Finotec Forex broker specializes in providing foreign exchange trading services, the company's official website https://register.finotec.com/finotec, the company's legitimate regulatory information United KingdomFCAInstitution Forex License (STP), to enhance the security of the company's address Mappin House, Oxford Circus London W1W 8HF, United Kingdom.
General Information of Finotec
Finotec Trading UK is a British broker, established in 1998, starting its online services in 2001, and is currently regulated by the Financial Conduct Authority FCA, holding a sspanaight-through license authorized by it, regulatory number: 470392. Finotec's actual office address has been verified to be non-existent, and the broker has been frequently exposed to the scandal of an illegal broker and the inability to withdraw funds, so investors should be careful about Finotec.
Market Instruments
The main financial assets that can be traded on the Finotec platform are Forex currency pairs, metals, CFDs, and crude oil.
Types of accounts of Finotec
Finotec offers two types of accounts: mini accounts and standard accounts. The minimum deposit for a Mini account is $200, while the Standard account requires a minimum initial deposit of up to $10,000. Objectively speaking, the minimum initial deposit amount set by Finotec is too high, as most of the traders open mini accounts with $0-$5 and standard accounts with $100-$200, so investors should be careful to avoid risks.
Spreads & Commissions of Finotec
The official website of Finotec does not provide information on spreads for specific Forex or metal but only says that the spread starts from 0.0 pips. However, given that the platform is unable to withdraw funds and there are more negative reviews about the illegal platform, it is likely that this is just a gimmick to attract investors to open accounts. In addition, Finotec charges traders a commission of 3 USD per lot.
Trading Platforms Available of Finotec
Finotec claims to offer several trading platforms, namely the market-leading and popular MT4 trading platform, the Web XTrader trading platform, the FIX API, and Currenex.
Deposit and Withdrawal
Finotec supports traders to deposit and withdraw funds to and from their investment accounts via credit/debit cards and wire transfers.
安安静静
Hong Kong
Fraud platform swindled my money and then wanted to negotiate to compensate me $4000.What do I do with the money? I’ll keeping pursuing this!
Exposure
2019-06-26
413靓靓
Hong Kong
I deposited money on February 21st and applied for withdrawal on March 12nd,while I haven’t received the fund yet now.It has been more than one month.The customer service keeps shirking!
Exposure
2019-04-22
2513694948
Hong Kong
The fraud platform said my money was rolled away by three parties, who have run away with money. It claimed to negotiate with me for compensations, I thought the money was cheated by it. The compensation is about 4,000 dollars. Everyone be aware of this platform
Exposure
2019-06-26