July 16, 2020

FinixCapital Review

Overview:

FinixCapital is an Estonian forex broker that runs under the domain name of fnx-cap.com. The domain name of this broker resembles many other brokers. Also, the domain was created very recently. It offers three accounts on MetaTrader and WebTrader trading platform. The broker’s website does not provide any information on trading conditions. However, we see other problems with this broker. In this FinixCapital review, we will mention all of the problems and most appropriate solutions on them. So, keep reading the full FinixCapital review here.

About FinixCapital:

The company named Iron Vision DOO is the owner of FinixCapital broker that is situated in Estonia. The customer support number provided starts with UK code. The three trading accounts provided are Silver, Bronze and Gold with minimum deposits require 250, 5000 and 25000 Euros respectively.  

The required minimum investment is higher than what other legit brokers charges. Unfortunately, there is no information about provided spreads and leverages on any trading account. The broker claims to provide MetaTrader account but refuses to perform a test on a demo account. Hence, we are not sure whether the broker provided the MetaTrader platform or not. Also, there is another trading platform called WebTrader.

The matter of fact is the local financial regulatory authority of the United Kingdom the Financial Conduct Authority issued a scam warning against FinixCapital. From this, it can be said that the broker we are reviewing has a potential scam broker trait.

On the official website of FinixCapital, the information on the payment method is given. The payments are accepted via Bank Wire Transfer, Cards, and Ewallets. Sadly, no withdrawal terms and conditions are mentioned on site. So, we clearly don’t know what the withdrawal charges are applied and to what extent.

Several trading discussion forums are filled with the scam allegations about this broker, and it is another fact of worry. Also, the broker fails to provide any licensing and registration on its website. Such unregulated brokers are not allowed to do brokerage business in Australia.

Is FinixCapital scam or legit?

The broker is Estonia- based, and according to Australian brokers, it is offshore. This broker does not follow the regulation and licensing compliance. Also, trading conditions are not mentioned anywhere on the website. The initial deposits are higher compared to the market average. The broker does not allow a demo account, and we are unable to test its actual trading platform. All of the above discussion leads us to believe that the FinixCapital is a potential Australian trading scam. Also, FinixCapital is red-flagged by UK’s FCA. Avoiding it is advised.