Finesse FX Review 2024: Is safe or a scam Broker?

Is Finesse FX Legit or Scam?

Finesse FX raises a red flag due to its lack of regulation. This means they operate outside the oversight of any financial authority, raising serious concerns about their legitimacy and trustworthiness. Without regulations, traders have limited recourse and are exposed to higher risks.

Here’s a closer look at Finesse FX:

Company Overview

Services or Products

Finesse FX offers a variety of trading instruments, catering to diverse investor preferences. These include:

• Forex: Trade major and minor currency pairs.
• Cryptos: Access popular cryptocurrencies like Bitcoin and Ethereum.
• Indices: Track leading stock market indices like S&P 500 and FTSE 100.
• Commodities: Trade gold, oil, and other commodities.
• EU Shares & US Shares: Invest in European and US company stocks.

The platform provides four account types: GOLD, NUGGET, VAR, and ISLAMIC. Each caters to a different level of experience and offers varying features like leverage, spreads, and minimum deposits.

If you have lost money to companies like Inftrade, or Puprime; please report it to us on our Report a Scam form.

Trading Platform & Leverages

Finesse FX utilizes MetaTrader 5 (MT5), a popular and user-friendly platform. They offer a high maximum leverage of 1:500, which can be appealing but also carries a significant risk of magnified losses.

Spreads and Cost of Trading

Spreads and commissions vary depending on the account type. The “GOLD” account offers the tightest spreads (0.4 pips) but has a commission per lot. The “NUGGET” account prioritizes low commissions but has wider spreads. The “VAR” account boasts no commission but has slightly higher spreads. All accounts have a minimum deposit requirement, with the “VAR” account requiring a hefty $100,000.

License and Regulations

This is the biggest red flag. Finesse FX is not regulated by any financial authority.

Legal Warning Against Unlicensed Brokers

Trading with an unregulated broker like Finesse FX carries significant risks:

• Limited investor protection: Regulatory bodies enforce rules to protect investors. Without them, you have limited recourse if Finesse FX mishandles your funds or engages in fraudulent activities.
• Potential for manipulation: Unregulated brokers may manipulate markets or engage in unfair trading practices to their advantage.
• Difficulty resolving disputes: If you encounter a problem with Finesse FX, resolving it through legal channels may be challenging.

Deposit and Withdrawal Methods

Finesse FX allows deposits through cryptocurrencies and wire transfers. While convenient, these methods are often irreversible, making it difficult to recover funds if something goes wrong.

Finesse FX Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

As highlighted, the lack of regulation with Finesse FX exposes you to substantial risks. Your funds are less secure, and you have limited options if the broker behaves unethically.

Client Feedback

Independent reviews are crucial to assess a broker’s legitimacy. Research Finesse FX reviews from trusted sources to gain insights from other traders’

How Can “Reviewsadvice” Help You If You Get Scammed?

If you have been scammed by this broker or any other scam broker, we can help you. We are not a scam recovery firm, we provide free consultation, professional guidance, and recovery service recommendations to help you in recovering the lost funds.

• Educate others: Share your experience to warn potential victims.
• Report the scam: Inform relevant authorities to help shut down the operation.
• Seek legal advice: Depending on the circumstances, legal action may be possible or you Can report to us today by the below form.