ANSWER Finoptec is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.Finoptec claims to be operated by Finoptech LTD, a company registered with the Financial Conduct Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 25174. However, no matching records can be found in the SVG FSA registry. This contradictory situation suggests that the provision of investment services by Finoptec is unsupervised by relevant regulatory bodies.Regarding your question, Finoptec is an unlicensed broker with huge risks, including financial losses and identity theft. If dealing with an unlicensed broker, investors will expose themselves to fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Finopetc and choose fully regulated ones instead.
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