Finazio review – Warning againast finaz.io scam

As of May 2023, the broker (finaz.io) has ceased operations. But you can read the article to avoid falling for similar scammers.

What about Finazio regulation?

Finaz, or Finazio broker, is another inactive domain. It’s waiting for everyone else to forget all about it before it comes back big. Finazio, as with many offshore companies, decided to let it go and not bother anyone after it was blacklisted.

Finazio was a trademark of Finaz.io Ltd, Marshall Islands. Finazio was happy to establish its scheme in this offshore country, as its regulator is one of the loosest.

Why is a broker required to have a license?

Brokers require a license to create compensation funds, comply with specific regulations, and be monitored. One can easily choose to leave if there is too much money involved. Regulation ensures clients get their money back.

Finazio didn’t bother to apply for a license. Many clients had no recourse to refunds after Finazio vanished.

Financial regulators issue Finazio warnings

After numerous complaints from clients, Finazio was blacklisted by the Spanish CNMV. Finazio, another boiler room at PandaTS, was already well-known for providing trading software to offshore fraud firms.

Traders reviews: Finazio scam

Clients have complained about Finazio’s crooked employees. Account managers pretend to be your best friend until you allow them access to your AnyDesk device. Your bank account will be closed and access to your trading account blocked.

Trading software available in supported trading platforms

Finazio inherited its platform from PandaTS, an offshore fraud WebTrader. The spread is up to 1:100, and this WebTrader does not have charts or indicators. To clarify, due to the high risk of Forex trading, UK and EU regulators have limited leverage to 1:50 or 1:30.

We recommend that you find a legitimate company offering MT4 and MT5.

Everything you need to know about Finazio trading account

There are 4 Finazio account types:

• Classic – $250
• Gold – $3,000
• Platinum – $15,000
• VIP – $50,000

There are no fees for deposits and the minimum deposit requirement is very standard. This broker is not recommended for traders as they are not subject to regulation.

You cannot use the Demo account to practice.

Finazio offers a range of trading instruments and markets

Finazio’s trading instruments offer nothing unique. These assets are available for clients to trade:

• Currency pairs
• Commodities
• Indices
• Shares
• Cryptocurrencies

Deposit and withdrawal options for Finazio

Finazio accepts several payment methods, including:

• Credit/debit cards
• Wire transfer
• Skrill

Other than the fees your bank might charge, there are no deposit fees.

If the account is not active for more than 45 days, the firm will charge $100 per month for a dormant account fee. Clients who choose automated trading software must have at least 20 trades to withdraw funds or close the account. There is a $100 charge for the software if you don’t have enough trades.

Last, but not least: If you accept Finazio bonus you will need to repay $10,000 per $1.

If Finazio broker scammed you

Get in touch with Finazio if you believe that Finazio has scammed you. One of our chargeback specialists might be able help you obtain a refund from this fraudulent investment firm.

What is a chargeback, you ask?

This is a way for your bank or credit union to cancel the transaction and receive a refund from the merchant. We can help you get a refund by contacting us today.

Finazio: Video

Below you will find a short video about Finazio. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Finazio!