This broker claims to be regulated by a number of impossible combinations. Is Finansa is another forex broker that plays fast and loose as regards to the information it provides? In the review below, we take an in-depth look at the features finansa.io allegedly offers. This review basically answer the questions: is finansa.io legit? Is finansa reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about finansia.
Table of Contents
Finansia Trading Platform Review
Although the website looks professional and well-designed, it feels fraudulent when some of the claims are considered.
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This claims to support the MT4 trading platform, but it does not. A page claims to offer 1:100 leverage while the documentation claims it is 1:300.
Finansa.io can be translated to English, Russian, and German.
Finansa.io Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has
Finansa.io Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The legal documentation claims that deposits can be made via credit and debit cards, wire transfer, and e-payment methods. However, the client area reveals that same transaction can only be made via e-payment methods.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Finansa Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
This broker claims to be regulated be the Financial Services Commission of Mauritius, the CySEC, the Financial Services Commission of British Virgin Islands, , the Federal Financial Markets Service in Russia, and the National Futures Association in the United States
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact-checking this broker, we found that many of its claims were either or false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we certainly lead to loss of your funds.