Top 3 Forex Brokers
Beware Finq is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- FINQ User Reviews
- FINQ News
- What is Finq?
- Is Finq regulated?
- Is Finq a scam?
- Finq in India
- Finq in the USA
- Deposits and Withdrawals
- Apps
- Demo Account
- Conclusion
Is Finq a scam or a legit broker?
Finq is not a secure Forex broker (see the list of Best Forex Brokers) since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.
What is Finq?
Finq provides trading in CFDs by offering tried and tested reliable platforms for web and mobile with over 2100 assets – stocks, commodities, forex, ETFs, indices, bonds. According to the website, Finq takes no commission and has multi-lingual client support standing by 24/5 to give assistance for account holders. On Finq, they guarantee some of the lowest spreads (Check out lowest spread forex brokers) in the market and zero commission, whilst offering leverage up to 1:300.
Among the platforms offered by Finq the WebTrader is one of the most up-to-date popular platforms giving clients an opportunity to trade over 2,100 assets backed by 90 edit tools, Trending tools, Analysis Recommendation tool and Events & Trade tool. The MT4 platform is also available to Finq traders.
About FINQ
| 🗺️ Registered in | Seychelles |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is FINQ safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Licenses & Regulation
Is Finq regulated?
It is not safe to trade with Finq, as it is an offshore company. Finq.com is operated by Dilna Investments Ltd which is the primary payment provider and website operator. Dilna Investments Ltd is acting on behalf of its mother company, Leadcapital Corp Ltd is regulated as a Securities Dealer by the Seychelles Financial Services Authority.
The point is that Seychelles offers an easy process of financial or investment firm establishment, through a very low list of requirements, small budgets and what is more crucial with no strict supervision of the brokers’ operation or history. For that reason, offshore zones attract vast non-scrupulous or shady brokerages such as Hugo’s Way, Prime XBT that aim to attract clients, to grab their funds and disappear.
Is Finq a scam?
There are a lot of offshore-registered brokers out there claiming that offshore registration is a legit thing that allows them to do business in the financial market. However, most of them are simply registered, and not licensed, nor monitored by any governmental agency, which makes those firms the most dangerous places for investing.
Finq in India
Finq has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here (forex trading brokers in india).
Finq in the USA
The United States is one of the countries that is not accepted by Finq. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Finq, you are only permitted to trade with the U.S regulated platforms.
Deposits & Withdrawals
The minimum deposit in FINQ.com is $/€/£ 100. The broker offers several payment methods: debit/credit cards, bank transfers, Neteller, FasaPay and Skrill.
Apps
Finq provides its traders with mobile trading through its iOS and Android apps. The traders can trade on the branded Finq WebTrader to access 2,100 assets from the world’s financial markets with free apps for mobile trading. They can view the Traders Trend Bar, see the Trending Now asset list, and use Stop Loss, Take Profit, Entry Limit and Entry Stop as they trade. Most importantly, the broker’s technical team constantly updates its app to give traders the best solution for trading anytime anywhere, so they never have to miss an opportunity to trade.
Demo Account
Finq offers a demo account so you can try the Finq platform with virtual trading before you put down a payment. This FREE demo account comes loaded with $10,000 of virtual money. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also check info on FBS Broker Demo account.
Conclusion
In any case, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple: the broker may promise the most competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a company means the trader will believe only on the broker’s words, and of course, it is a high risk.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or Australian Forex Brokers and reliable brokers such as AvaTrade and XM.com.
You can also share your trading experience with Finq by commenting on this review.
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I DEPOSITED $2000 WITH FINQ. because they were constantly pressing upon the point that its totally free brokerage in US markets. Only 2% brokerage from profits. they were pressing too hard on trading. but when i told them that i will trade later, and requested my money, there was no response.
yesssss and why all you gays dont have an acc on finq.com. you are alle liaers becauze i have 5 years that im investing whith finq and i dont hape any problem
Yes u are right finq.com broker allso faurd with me when I add my firs 100$ the broker also ask me that you get $100 bonus but no bonus
Hi give me & faurd with me
OMG! Were you able to get your money back?
i lost my entire capital with finq.com . there advisory sucks
Oh my goodness. You mean this is a scam? I invest 15,500 US Dollars because they insist me to invest and in 1 week they said they will return. Now, I cannot call them. They are not answering my phone. What is the best way to do with them.
help me I stuck my money in finq .com any one can help me
Finq is a Fraud company what they say in beginning its totally opposite. Liars.
Never invest with them. I am asking them to refund my money back still they have not done its been almost 20 days.
Don’t waste your time and money with them.
Finq.com is a scam don’t invest any money in the finq.com it’s a fully Fraud company . There is any possibility to claim the amount
Finq is a real scam! I lost $5100 and I am unable to get it back anymore unless I will invest more! Can anyone help me. It is really a nightmare.
Finq.com is a scam don’t invest any money in finq.com it’s a fully Fraud company. Recently lost 1700 USD.
Scammer Alert!!!
They are the biggest scammers in this industry. they advertise saying only $100 to start with, and insists you to put you more money.
I lost $600 within a week,
initially gave some good trade position, later push me to open more bad trades and convinced me to deposit more, at last all trade closed because of margin shortage. Account managers worst and they don’t mind they are playing with our hard earned money.
They used to call every single day 4 times, but since I lost all money they stop calling me. They know how to manipulate your mind.
Please don’t waste your time and money. You will loose everything.
It’s a day light scam.
Whenever you search for investment Finq.com will target the user, They will keep calling you with different numbers and convincing you to invest 100 dollars, They will tell all stories that they are from Luxembourg with Oxford degree in finance to trap you and make you invest money.
People lose more money every time based on their advisory services. Initially they will give you profitable calls but later they will insist you to pour in more capital. they will make you stuck in bad deals, Your losses would never be recovered, in the event to lose existing capital you need to invest more. But at the end everything is lost based on their calls. There motive is just to loot the clients as much as possible.
Don’t Even even think of signing in FINQ.COM , would be a big disaster.
Initially they will call you 4 – 5 times a day, but once you lost all money they stop calling or attending you.
Please don’t waste money. At the end you are going loose everything.
I thank you all for your comments. They did the same with me. First ask to invest 100$ then you get a call from an advisor. He ask you about your wealth and then force you to invest a huge amount. When I refused to start they told me you have enough, why you don t invest.
I told them I don t have time just now and then checked the comments in the internet. Since one week they call me every day with different numbers. I only invested 100$ but if there is a possibility to stop them, please let me know because I will support everybody who tries to stop and shutdown this company.
hi all im also victim of FINQ and im just small employee with small salary and invest 100 dollars becasue i was amaze and i want to earn more but i end up losing this money with them which in my part is bg amount. how they can do that to small employee with small salary.
they dont have heart. That 100 dollars is a big help for medication of my mom. but i end up for nothing.
THIS IS REALLY TRUE THEY HAVE PROMISE ALSO THAT THEY WILL HELP.
AND WHEN THEY FEEL THAT YOU HAVE NO MONEY THEY WILL NEVER CALL YOU BACK.
Requested the funds withdrawal and still not received. Every time I call they say it takes 2 to 3 days but it’s been 2 months. Please don’t fall for them. They call and speak in polished English with different accents but in reality they are just scammers. When you look the employees up on LinkedIn and in Google search you cannot find them. It’s a con, Stay away.
you are a biggest hypocrite!!
I have paid 600USD and there staff in starting force me to make more 5000USD but I was not setisfy with the service I have submitted withdraw request but they not credited amount in my account apart from that after requesting withdraw amount they removed my all money which I deposited in starting, I was shoked I send support and company people mail reply me call me or reply on mail but unfortunately no one reply there I have spoken with 5 to 6 people Aneesh, arvind, Kuvar, atif, kamal, Rahul they all are only interested to get our money nothing else no responsibility or not good services they do follow up for I do make more deposit and then they do 0 zero my hard money that not right way in trading system need support to do complaint in higher level and stop this kind of breach, and fake services, there office also not real need full investigation on there business they are looting the genuine people.
Just reading this comment saved me alot from this people. I was about to deposit my money but told myself that i need to do some research first.
T
PLEASE DO NOT INVEST WITH FINQ. I lost 93k USD – This is the largest unscrupulous underhanded legal scamster co. targeting and exploiting vulnerable people with none or little financial experience or knowledge with the promise of making a bit of extra money on the side.
The account manager, Andreas (not sure if its his real name) pushed me into placing large, misguided positions, that kept going in the wrong direction forcing me to keep topping up my free margin in the fear of losing what I had already invested.
Finq will manipulate you by showing you a great day on the market, and when you do finally have funds available to withdraw – they will make sure you never take any of your money out by fearmongering you into believing that if you withdraw any funds you taking a risk. Soon after you try to withdraw funds, and when your saving account has been depleted and you have no more to add to Finq, they will surreptitiously sabotage you with their orchestrated plan so that you lose everything.
Wish I had read the reviews before I embarked on such a disastrous scheme.
Stay away from them they are not only going to advice you how to loose your money
Guys thank you so much for the advise.I just get a call from one of their staff,the number is reading Luxembourg and I told them I will deposit tomorrow but for now all I can say is just appreciate
Surely some people must make money?
Thank you so much, these reviews helped me not to go with FinQ
Finq is a fraudulent CFD broker, everything moves smooth with them like a dream although they call you a lot on a daily basis to enter in to deals, however when you start doing some profits and decide to withdraw some funds, your dream turns in to a nightmare! Your account manager will do his best to make you loose all your money! I lost my funds and when requested to get back my funds they told me my complain takes up 2 months! Beware traders!! Don’t do the same mistake. Choose regulated tier 1 brokers. Not offshore like Finq.
I totally agree with everyone here.. Fine is a Fraudulant broker. They always provide false signals. Without proper reasearch and you will keep losing all your money. I lost. 1000usd with these guys.and upon that they asked me to deposit 1000 more. And today evening called me again. And asked me to invest in oil and when I said I have no money left. They asked me to deposit 1000 more. And invest as it is a good time to recover losses. I waited.checking the trend chart all day. I didn’t see any raise. And in the evening there was a huge fall. They don’t do any research. So to all who are planning to do trading with find. Be carefull.
Thank you all guys for your honest reviews. FIQN staff just called me and guided me to do the registration but immediately, I have to do the payment, so I just intuitively back off and said I will call them back. Then, I wanted to investigate their legitimacy, started to search, and found this website. Now, at least I’m enlightened and decided not to go with FINQ. Thank you so much and may God bless us all.