WikiFX Scam Alert: CONSOB Warns Against FinexTrader!!!

Investors who are still trading forex at FinexTrader had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

So let us start with the most important, the recent warning issued on September 12th against FinexTrader (finextrader.com) by CONSOB – the financial regulator in Italy. Take a look:

“Consob draws investors attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published”, the warning by the Italian financial authorities reads.

WikiFX also paid a visit to the brokers official website to learn more. FinexTrader actually claims to be regulated by “the world regulators”, promising security and reliability of the highest levels. This is obviously a lie given the CONSOB warning mentioned above.

FinexTrader also claims to be based in the UK – one of the top locations for forex trading. The countrys financial authority, the FCA, is one of the strictest and most well-respected in the world.

WikiFX made the effort to check the registers of FCA, but in vain – no company or broker by the name of FinexTrader was to be found there:

VISA, Neteller and Skrill are all listed as possible payment methods, but in reality the only payment option we were actually offered was some obscure payment provider called HIGHPSP or uiservices.highisk.com, which honestly we hear for the first time about, and which obviously does not help with FinexTrader credibility either.

Now let's search “FinexTrader” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/2286970137.html), FinexTrader currently has no valid regulatory license and the score is rather negative - only 1.09/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in FinexTrader. The so-called brokerage is actually a scam website, which has already been exposed by the financial authorities in Italy.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.