FinnexBot Review – Counterfeit Licenses Prompted A BaFin Warning
FinnexBot Review – Counterfeit Licenses Prompted A BaFin Warning

By priding itself in providing a comprehensive trading experience, this sham ensures their future victims fall for their act. Trading with ease is what investors of all experience levels are generally looking for. 

In order to lure Forex enthusiasts into the financial trap, cyber criminals create illusory trading conditions and artificial environments on their sites that make trading seem effortless. What really goes on in the root of the scheme is what our FinnexBot review will inform you of.

Regulated by: Unregulated Forex Broker
Is This Company Safe? No, this company is blacklisted for a lack of license and is not safe!
Known Websites: finnexbot.com
Have Warnings from: BaFin
Registered in: UK (alleged)
Operating since: 20.02.2023.
Trading Platforms: Web Trader
Maximum Leverage: 1:500
Minimum Deposit: $5,000
Deposit Bonus: Hinted, undisclosed
Trading Assets: Forex, Cryptocurrencies, Stocks, Indices, Commodities
Free Demo Account: No
How to  Withdraw from This Company? Contact our chargeback experts for help with asset recovery.

False Authenticity

For a UK-based firm, it is strange that FINEX CAPITAL M LLP doesn’t appear in the register of legally incorporated entities – the UK Companies House. While searching through the database of regulated financial service providers, kept by FCA, we found no firms with matching names, but one very close to it. 

You see, what goes on here is that the firm in question is most likely a clone of a FCA regulated company – FinEx Capital Management LLP. The fraudsters running finnexbot.com have no relation to this firm. Moreover, while they claim to be CySEC regulated, they do not appear on the list of approved trading domains. 

Lastly, what convinced us that we’re reviewing a cheap impersonation attempt is the public warning, published by the leading EU regulator – BaFin. Truth be told, all that awaits you on this trading portal is loss, which is all 4xex can offer you, as well. 

Where the swindlers reveal their true location is legal docs, that say Marshall Islands to be their jurisdiction. This offshore zone has GLOFSA to regulate their Forex market, but this firm remains unlicensed even there.

Social Networks As Hunting Grounds

The fraudsters made their first online appearance in February 2023, as you may see in the WhoIs domain register. Much of the website traffic for this platform originates in German speaking nations:

  • Germany
  • Austria
  • Switzerland
  • Netherlands
  • United Kingdom

It works through boiler room agents, who act as financial advisors on social media like Facebook. In an approach that has become common, they claim large passive income and great opportunities and ask for investments.

It’s all just a ruse, of course, and the money ends up in the swindlers’ own pockets. Recovery is possible, but requires expert help which you may receive here on our website.

Paid Reviews Confuse Investors

To add to the deception, the company uses fake FinnexBot reviews on ratings sites. On the TrustPilot platform, we can see that the fraud is directed specifically toward the German speaking public.

These fakes were created by review seller networks, who use a predetermined script to praise certain aspects of the company, while ignoring any verifiable information. Similar strategy is employed by other con sites, like Athens Markets.

Terms Don’t Meet Regulatory Expectations

No legitimate brokerage brand operating in the EEA is allowed to offer leverage higher than 1:30. Unfortunately, that means little to illicit firms, with freedom to expose you to whatever ratio will lead you into bankruptcy sooner. For that purpose, the provided maximum on this site is 1:500, the more you invest. 

Another bait to have you throw in more cash into the grinder is the costs. Trading costs advertised start at 1.5 pips for EUR/USD, which is higher than what reputable portals provide. However, it is claimed that you can unlock costs starting from just 0.0 pips, but only if you invest a ridiculous amount of cash. 

The only other type of fee revealed is the dormant accounts fee which is charged on an annual basis with the amount of $30.

Bonus That Requires Turnover

Cash bonuses awarded to customers are mentioned in the legal docs, but nowhere on the site itself. Legal papers say that these bonuses are occasional and cannot be withdrawn unless the trading volume requirement is met. This condition amounts to (deposit + bonus) x 30.

No Tools Worth The Mention

This broker certainly does a better job at advertising than tending to their clients’ trading needs and expectations. All of the claims of a great range of tools and instruments are worthless when the accounts are overly expensive and the web trader is barely functional. All other features you’d find on a regulated platform are missing as well.

Low-Performance Software

The FinnexBot platform is the same old, overly simplified web trader we have encountered countless times on these worthless trading sites. Heavily tampered with, it shows fictitious values and price movements and will not allow interaction until you deposit real money first. 

Let us tell you immediately – it is not worth a single penny, let alone the amount the platform owners are demanding. Absence of any fundamental analytical and technical tools make it infinitely inferior in comparison with the industry leaders, like MT4, MT5 and cTrader.

Markets

The offer of traceable assets on this platform is pretty standard. The downside to it is that these instruments come with the platform as built-in options, so if the firm offers any other particular products is questionable. Here’s what the software shows:

  • Stocks (Alibaba, Adidas, Boeing, 3M)
  • Crypto (BTC, ETH, LTC, XRP, ADA)
  • Indices (CAC40, DAX, FTSE100, NSDQ)
  • Currencies (EUR/USD, EUR/GBP, USD/JPY)
  • Commodities (Wheat, Coffee, Silver, Gold)

Account Requirements

Trading packages available are quite demanding when it comes to the amount of cash. Although the site and the user area reveal a minimum investment condition of €250, bundles cost far more. What is additionally undermining the legitimacy of the offer is the fact that it is provided by a blacklisted agency. 

Take a look at the packages:

  • Silver – €5,000
  • Gold – €10,000
  • Platinum – €25,000
  • VIP – €100,000
  • Diamond – €250,000

Withdrawal Conditions

We’ve already mentioned the fact that all withdrawal requests are rejected in case the required turnover is not achieved. This is the most common excuse that cons use to deny your right for payouts. 

The bright side of the whole deal is that credit cards and wire transfers are the available methods for transferring cash. That means that you still have a chance to ask for a chargeback if you lose your investment. For such issues, refer to our legal experts.

Getting In Touch

Without providing an email, phone, online chat or any other way of reaching out to FinnexBot support, customer service is only available via online form. The reply isn’t guaranteed and the fact that some urgent inquiries aren’t dealt with in due time makes this service unreliable. After all, this is just another untrustworthy Forex dealer we’re reviewing. 

Don’t Accept Defeat – Call Us!

The worst thing you can do in case of scam is remain tight-lipped about it. We understand that it may have been embarrassing that you were tricked into a false investment, but there’s still a chance to get your funds back. 

Right after reporting the criminal to the local authorities, reach out to our legal experts! We can help you understand what your alternatives are and what exactly you need to issue a chargeback or track your crypto transfer.

FAQ Section

What is FinnexBot?

This is a blacklisted fake financial services provider that claims to be legit but is not.

How Long Does FinnexBot Withdrawal Take?

It is claimed that it takes 4 days to process the requests but this is not verified.

Is FinnexBot a Legit Broker?

No, as a matter of fact, BaFin has warned the public about their illicit actions, so if you’ve also been defrauded, call our chargeback professionals.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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