Beware! Finanza Invest is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Warning! Finanza Invest is an anonymous Forex broker which was marked with many red flags, do not deal with this entity in any possible way! On top of that the UK financial watchdog blacklisted Finanza Invest recently, confirming that it’s a scam enterprise that should be avoided. Find out why you should avoid this scam Forex broker in the full Finanza Invest review.
Finanza Invest REGULATION AND SAFETY OF FUNDS
Finanza Invest is a totally anonymous and untrustworthy Forex broker, which was put in the warnings list by FCA on October 2, 2020. Here is an excerpt from the official publication:
A warning issued by financial regulators is the ultimate proof that a certain Forex broker is a scam, but there are many other signs that will show you the broker you are looking at is not to be trusted. Finanza Invest, in particular gives many pieces of conflicting information, which undoubtedly prove it’s a scam. Their address, for example, there is no such place as Office 101, Tower, London, UK. It’s a fake address and doesn’t include a postcode, a red flag number one. No contact phone number given, another red flag. Upon registration we received a call from Austria, one of their representatives reached us over the phone, which is yet another red flag, because the Alpine country isn’t mentioned anywhere in their website. We haven’t really started with the review and there are already three red flags marked, definitely confirming that Finanza Invest is a scam. Stay away!
Your funds are in danger if you make a deposit with Finanza Invest, it is unlicensed, unauthorized and unregulated Forex broker, confirmed scam which was officially blacklisted by FCA.
Your broker should be legit, transparent and preferably regulated in EU or UK, as these jurisdiction provide the safest environment for your funds. ESMA, the European Securities and Markets Authority imposed a number of customer protection measures, designed to work for the benefit of the traders. A fine example is the negative balance protection rule that the Forex brokers are bound to keep, meaning that the investors cannot lose more than the sum deposited. In case the balance goes negative, the broker has to bring it back to zero as soon as possible, at no cost!
But most importantly, money protection funds were inaugurated, such as ICF in Cyprus and FSCS in UK, which were set up to protect the deposits made by the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
Finanza Invest TRADING SOFTWARE
Finanza Invest offers Metatrader4 to its clients, Metatrader5 is not available for trading. We successfully signed-up and managed to download their Desktop distribution, demo trading is available. Their service provider, however, is called Trades Limited, a company which we couldn’t trace, another anonymous entity that enters the mix. The spreads are very competitive, fairly speaking, as the EUR/USD was traded at 0.0 pips difference, but you shouldn’t be fooled, Finanza Invest is a scam and should be avoided.
The leverage is up to 1:400, but the lowest level possible is 1:100, which is the next major red flag to note. Also, on their website they claim to offer levels as high as 1:500, but they are simply lying to its customers.
Finanza Invest DEPOSIT/WITHDRAW METHODS AND FEES
Finanza Invest doesn’t present comprehensive and exhaustive Terms and Conditions in regard to its products and services, another red flag that we have to note in the list that seems to be endless. The minimum initial deposit is said to be 200 USD. In reality, there is a single funding method– the allegedly Russian online wallet PaynetEasy, which is as fishy as Finanza Invest itself. The information about this payment provider is really scarce and obviously the security is not a priority for them, as they provide scam Forex brokers with their services.
Once you enter the details and click on the Submit button you have to use your bank card to complete the deposit.
No minimum withdrawal amount known, also no fees specified, but they claim that some charges might incur depending on your bank. There isn’t a dormant account policy and no fees for inactivity are being specified, which is yet another flag.
No bonuses offered at the moment, however Finanza Invest does mention that trading incentives are generally possible, but no further information given . No partnership programs available.
HOW DOES THE SCAM WORK
Fraudsters are working in the social media nowadays, more and more scammers will first introduce their “services” to the people through Facebook or Instagram. You will click on a page, they will contact you, probably offer you a demo account and after some time you will be invited to register, enabling you to invest and “make guaranteed profits”. Once signed-up they will want from you to deposit money and this is just the beginning, because in the most of the cases the scammers will ask again and again, no matter the results of your trading. The end is always the same, a robbed-off investor who lost his hard-earned money.
There is no true protection against scam, but you will be safer if you do a thorough research, get familiar with the trading conditions offered by the brokers, read their Client Agreements, use demo accounts, read reviews, be alert. With charlatans adapting their tactics daily, you’d better be always up to date with the newest scammers’ tactics!
WHAT TO DO WHEN SCAMMED
No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience, it is important to protect others, as well. Be responsible!