Today’s story is about yet another representative of modern scammers masquerading as honest CFD brokers. To attract traders, they guarantee top-level security, exceptional user support, a wide range of markets and trading instruments, and the most advanced and highly efficient software. However, no one will make quick and significant profits here. To verify this, it’s enough to analyze the data and offers on the official project website — or save your time and read our Finnatrix review.
Key Features
- Company Name: Finnatrix
- Website: https://finnatrix.com/
- Available Contacts: [email protected]
- Foundation: 2024
- Services: Forex/CFD trading
- License: No
- Initial Deposit: No minimum
From Sign-Up to Payout
The official Finnatrix website, in our opinion, is a pathetic attempt by amateurs. Take note that only the homepage received any sort of design; the developers apparently didn’t have the time, energy, or funds to work on the rest. The other pages are left with dull texts and poor formatting, which the designers didn’t even bother to touch.
However, the main problem with the broker’s website is not its lackluster design. Its content and functionality are even worse:
- Try to find even a shred of useful information on the pages. We couldn’t. For example, instead of providing a phone number in the contact details, the authors of this “creation” tried to add a WhatsApp link but forgot that numbers consisting entirely of zeros won’t work.
- There isn’t a single document on the site outlining the relationship between the trader and the broker. Even the registration form’s link to the Terms & Conditions doesn’t lead anywhere. It’s unclear on what grounds the company’s clients open accounts, deposit money, place orders, etc. Questions about verification arise as well, since there’s no KYC Policy, and it seems Finnatrix simply isn’t aware that such a policy is mandatory for all regulated brokerage firms.
- The data presented on the website doesn’t match the information found in the trading terminal. For instance, in the FAQ section, the platform claims a maximum leverage of 1:200, but when attempting to execute a trade, the trader sees leverage set to 1:500.
- Payments are accepted and processed exclusively in BTC, USDT ERC-20, and TRC-20. Again, it’s unclear how client payment details are verified and how the firm complies with AML requirements.
Thus, we see that the Finnatrix website doesn’t even meet basic standards for broker information resources. Only scammers, for whom website quality doesn’t matter, could afford such negligence.
Our Trading Experience With Finnatrix
The broker praises its trading platform as one of the best in the market. Perhaps this enthusiasm is due to its use of an updated version of software from Easy Technologies. This web trader does look decent, but it’s impossible to claim that all its functions are flawlessly implemented.
First, note that the trading terminal is entirely integrated with the user’s personal account. This is far from the best decision in terms of security. While this is a significant drawback, it’s not the only one. Any knowledgeable trader will immediately notice many others:
- Poor organization of the asset list (market overview), which slows down the selection of the desired symbol when executing trades. This is especially critical for markets experiencing high volatility.
- A limited set of graphical tools, restricting the ability to analyze asset price movements.
- The inability to add custom indicators to the analysis toolset or connect trading robots.
- Issues with saving the settings of workspace windows and the terminal overall.
All of this makes trading far less convenient than one would hope. Moreover, some of these shortcomings could easily lead to trader losses.
But that’s not all. Do you know why scammers love using this trading platform? The server administrators have unrestricted access to the quote stream and can adjust it at will. Naturally, under such conditions, a trader cannot expect honest trading or any profit.
To complete the picture, we should add that Finnatrix promises desktop and mobile trading terminals on its homepage. However, the download links redirect users back to the homepage, and in the FAQ, users are outright advised to forget about them since the web version offers maximum functionality and works on any device without requiring additional software downloads.
A careful trader will also notice that the list of markets and assets is far from as extensive as the company representatives claim. For example, only major Forex pairs are available, and the lists of indices, commodities, and stocks are significantly shortened.
The firm also struggles with publishing trading conditions — or rather, traders struggle to find them. As noted earlier, the company decided not to make contract specifications publicly available. Additionally, in an attempt to imitate the best licensed brokers, the platform owners chose to offer only one type of trading account to their clients. Naturally, since traders have no choice, the company has also decided not to disclose the trading conditions for this account.
We did manage to find some information on the FAQ page. Here, users can learn that there is no minimum deposit requirement and that accounts can be funded with as little as $1. Additionally, the FAQ mentions maximum leverage of 1:200. However, there’s no mention of spreads, swaps, trading commissions, or other “details,” which the broker prefers to keep silent about.
Even the published information is difficult to trust. For instance, the trading terminal shows maximum leverage of 1:500. What’s the truth? Should we assume that the site creators are unaware of the parameters set in the trading platform or that the server administrators forgot to configure it? Either scenario is telling of the broker’s “professionalism.”
The Reality Check
It seems that what has been said above is more than enough to understand that we are dealing with an outright scam. This conclusion is further supported by official information about Finnatrix.
On the contact page, the broker provides an office address in London, UK. It is logical to assume that the company is also registered in this country. To verify this fact, we turned to the Companies House database.
A search for the company name, as we can see, yielded no results. Moreover, no offices were found at the specified address. A similar search in the OpenCorporates database led to the same results: among the 220+ million legal entities worldwide, there isn’t a single one named Finnatrix.
Based on this information, we can draw a clear conclusion: the broker operates without official registration. This is a virtual company whose only assets are a poorly designed website and a web trader. Naturally, it:
- Does not hold licenses to provide brokerage services.
- Cannot open corporate bank accounts or cards. As a result, it accepts payments only in cryptocurrency (as mentioned earlier), and the idea of storing client funds in segregated bank accounts is nothing more than a fairy tale for gullible users.
- Acts as the sole counterparty for users’ transactions and the only liquidity provider. Given the significant doubts about its financial resources, it simply imitates trading.
- Receives quotes from unknown sources and, of course, does not miss the chance to manipulate them.
It seems trustworthy brokers operate somewhat differently. To be serious, what we see here is a scam platform whose sole purpose is to appropriate all funds sent to client accounts.
How Long Has Finnatrix Been in the Game?
The broker never mentions how long it has been operating. This question is relatively easy to answer: since the virtual company has nothing but an official website, its foundation date can be considered the moment its domain was registered. To obtain this information, we used the Whois service.
The data provided by the Whois service indicates that the domain finnatrix.com was registered on July 31, 2024. The broker’s online activity began to surface later — in September, coinciding with the date of the last significant update to the domain information.
The difference of a month and a half is not particularly critical. We can confidently say that in the 3.5 to 5 months of the company’s existence, its specialists have made no effort to tidy up the website. This suggests that the project owners are satisfied with the current state of affairs, and the shortcomings we mentioned earlier are a deliberate choice. Naturally, this eliminates any remaining doubts that this fraudulent company was created by scammers, making the likelihood of a scam almost absolute.
Extra Fraud Indicators
Judging by the Finnatrix reviews posted online, the company is supposedly one of the best brokers in the world. Indeed, there are plenty of posts about it, and their ratings are quite high. For example, on Trustpilot, there are 42 comments with an average score of 4.5, on Reviews.io — 51 comments (4.5), and on HelloPeter — 42 comments (4.5). However, it is not difficult to see that absolutely all these publications are ordered and paid for by the platform owners. The company has found a nearly foolproof way to create a positive image. The only problem is that the authors of these reviews know very little about what they are writing, which is evident in their “creativity.”
Such a wave of positivity might influence decisions made by beginners. However, experienced traders can easily distinguish between fake reviews and genuine articles about the broker. Especially since the latter are also not hard to find: there are plenty of them on trading and investment-themed portals. Experts give the platform a very low rating (just above 1 out of 5). It’s hard to argue with their conclusions, especially when dealing with an unregistered firm that lacks licenses.
Everything we’ve said above further confirms that this is a scam.
Is Finnatrix the Right Fit?
Thus, our Finnatrix review leaves no doubt — this is a scam broker. It operates exclusively online without registration or licensing, concealing most of its trading conditions. The little information that the pseudo-company has chosen to disclose has proven to be unreliable. We strongly advise against registering with this broker or sending even minimal amounts to the accounts managed by these scammers.
Don’t even try trading with Finnatrix. It’s a total scam. These fraudsters trick people, telling them they can get rich quickly. Then, when you realize it’s all lies and try to withdraw your deposit, they won’t give you back your money or your earnings!
I’m convinced Finnatrix is just a bunch of scammers. When they called me and started talking about how easy it is to trade and earn a lot of money, I believed them at first. I opened an account, transferred $1,000, and later added more. But now, they won’t let me withdraw my money. First, they asked me to pay taxes, then wait for cryptocurrency conversion, then pay additional fees, and so on. This has been going on for three weeks now, and it seems I’ll never get my money back from this scam.
wish I had seen the analysis earlier, absolutely a scam. Lost my money I’m afraid.