In this review, we will describe why Finarix is a scam that you should avoid at all cost !
Is Finarix Legit?
Looking at Finarix website, it shows that they are owned by Zolarex Ltd. Zolarex Ltd. is located on the Marshall Islands, a well-known offshore zone and a preferred location for shady brokerage. Finarix is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Finarix is a dangerous broker to deal with.
Are Funds Safe with Finarix ?
With such lack of information and Finarix being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Finarix is withholding vital information to users.
Finarix could go bankrupt from one day to another since there are no banking information about this broker.
Finarix Review: our Conclusion!
Finarix is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.
Finarix Scam Review
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Website URL : www.finarix.com
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Type of Scam : Unregulated Broker (CFDs, Forex)
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Regulation : None
I had an account with Binary Online previously, knew they had bad reputation, but signed up to test a new robot back in the day. Anyway been asking for withdrawals for sometime with no luck, also me not pushing. I am a trader not some newbie who has no idea. Then all of a sudden a name change, then the platform changed, then it’s changed again now to mt4 supposedly. They’re interpretation of it looks like something that two or three 3 year olds have made out of crayon it’s rubbish. Anyway, used the account to test strats I have just a tiny , tiny amount left of £149.48, so asked for withdrawal of £120 just to see. After about a week got a reply saying ” Insufficient Funds” minimum withdrawal is now £500, I emailed them back & gave them hell heard nothing back up to now that was couple of weeks back. Don’t use them pleases they are scum, parasites the worst kind they have ruined trading & still give it a bad name. I love trading been doing it for years & I hate brokers like this who just ruins it all. Beware & keep clear!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
YES, THIS FINARIX.COM, CHANGED FROM BINARY ONLINE IS NOTHING BUT A CONNED AND SCAMMED WEBSITE. PLEASE STAY FAR AWAY FROM PUTTING $$ INTO IT. YOU WILL NEVER GET YOUR WITHDRAWAL OR MONEY BACK ONCE YOU DEPOSITED $$ WITH THEM. I HAD FALL VICTIM TO THEIR SCAM.
I opened trade with Binaryonline previously and deposited 100’s of euro within a year I’ve been trading with them . All over sudden the name and platform changed and changed again and now it’s Finarix with MT4 platform support.
Seeing all these changes and reading on the web, I decided to withdraw my money which they refused my request.
I have contacted then by email; chat; and even by phone to let me have my money but It was all in vain as they said that I have to pass 100’s of trade through the account to allow me to withdraw my money, if there is any left by that time.
Can you help?
I have 3416.58 euro left in account and I am not trading any more.
Thank you In advance
Mario
I have invested heavily with Finarix/ Algo.
I can not withdraw money.
Reason given: I have to complete the bonus/turnover, base an lots. which will take 20 + years
The Profit made through trading is high
The P&L is also high but below the profit, which obviously varies depending an market condition and trades.
Please comment. Thanks
Harald
PS. As you can see from the address, we are in South Africa