Finap-Trade review – 5 things you should know about

Finap-Trade review – 5 things you should know about

Beware! Finap-Trade is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


The guys standing behind Finap-Trade apparently chose to spend less money on incorporation and licenses, so they went low-cost to establish a Forex broker in a non-regulated offshore jurisdiction. Finap-Trade doesn’t feature the bad traits that are typical for the rest of the offshore brokers, but it doesn’t mean that you should start trading with them. It’s still a Forex broker that’s risky for the funds of the traders. Find out everything you need to know about this broker in the full FinapTrade review.


Finap-Trade is run by an SVG offshore company that doesn’t hold a license to operate as a Forex broker. That’s because St. Vincent and the Grenadines financial authority poorly regulate the financial sector and doesn’t even issue FX licenses. It means that the SVG brokers operate without supervision, but most importantly, there isn’t protection guaranteed for the clients’ deposits. The offshore brokers might vanish any time soon, and the traders will be left with losses that might be impossible to recover. In fact, it’s considered an illegal activity if a broker sells FX products and services on regulated markets without the proper authorisation.

Your funds are not safe if you make a deposit with Finap-Trade because it’s an unlicensed and unregulated offshore broker that cannot guarantee that the traders’ funds are secure.

Avoid Finap-Trade and chose an EU (mostly CySEC regulated) or UK (FCA regulated) Forex brokers, because the jurisdictions mentioned are safe, stable and predictable. There is a variety of stringent rules and regulations that the brokers have to comply with. Still, most importantly, your funds are guaranteed up to a particular level by the deposit insurance funds that were inaugurated to protect the money of the clients. If your broker is CySEC (Cyprus) regulated you can claim up to 20 000 EUR per client, while the customers of FCA (Britain) brokers can claim even up to 85 000 GBP per client. 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.


Finap-Trade offers MetaTrader4 accounts to its clients; MetaTrader5 is not available for trading. It’s the right choice for the broker in terms of trading software because MT is the most popular Forex platform in the world, which is beloved by the traders for its stability and reliability. But it also features sophisticated trading tools that the traders can hardly find anywhere else for free. The list includes Expert Advisors, Automated Trading, Complex Indicators, its own programming language- MQL and even a marketplace where the traders can find third-party-developed trading tools to implement in their strategy.

The EUR/USD spread is 3 pips most of the time, which is way too high compared to the rest of the industry- 1 pip and below. The spread is the difference between Buy and Sell quotes, and it constitutes part or all of the trading costs for the clients. The lower spreads make the trading affordable and improve the profit potential, so Finap-Trade is not the right choice for the traders.

The maximum leverage level possible is 1:500, which is an insane ratio that might cause lightning-quick losses instead of profits. The leverage makes retail trading possible because it allows the traders to open a position by providing only a fraction of the sum that they place on the market. But it comes at a cost as the risks increase proportionally. Precisely the risks involved made EU, UK and Australia (from the spring of 2021) force a leverage cap on the market- 1:30 as a customer protection measure. Canada and the US agreed on 1:50, and we recommend that the traders should avoid trading on higher ratios.


The minimum initial deposit with Finap-Trade is $100, which is in line with the industry standard.

The funding methods are Credit/Debit cards, Wire Transfers and e-wallets, but Finap-Trade fails to specify which ones are available. We cannot confirm that Skrill or Neteller transfers are possible.

There are no minimum withdrawal amount restrictions that apply, which is quite favourable for the traders, but we have to emphasise on the fact that Finap-Trade is an offshore broker that’s not safe to trade with. No transfer fees apply, as well, but Finap-Trade says to process the withdrawal request within 7 business days, which is way too long compared to the rest of the industry.

No dormant account policy was found, which is a disturbing fact we have to note. The policy is a set of rules that determine how the brokers deal with the accounts that have become inactive- no login, no trading. Most of the regulated brokers will not charge the dormant accounts with more than 5 to 10 dollars per month.

No bonuses are available at the moment, and the company doesn’t indicate that such campaigns are possible in the future. We have to make it clear for the traders- the bonuses are not free money, but a leverage tool that further increases the risks for the traders and makes trading dangerous. It’s a positive sign that Finap-Trade does not offer trading incentives, but it’s still a risky offshore broker with very unfavourable spread on top of that. We do not recommend Finap-Trade to the traders.


The scam is a criminal activity- the scammers are trying to defraud people by making them believe that they can make easy money. In most of the cases, the scammers are hiding behind offshore companies, offshore Forex brokers, trusts and so on, trying to remain anonymous and difficult to trace. There is no or very light FX regulation in the offshore jurisdictions such as the Commonwealth of Dominica, the Marshall Islands or St. Vincent and the Grenadines, making them some of the most popular destinations for shady and illegitimate enterprises. Regulation means customer protection and safety, financial authorities such as CySEC or FCA will make it impossible for a scam Forex broker to conduct illicit activities and harm the traders.


No one is immune to scam, and anyone can fall into the trap. Scammers are always 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 necessary 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!

It’s very important not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. These will most likely ask for an advanced payment, but will do nothing to help you recover your losses!

Share online your experience; it’s important to protect others, as well. Be responsible!

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