FinexTrader is not a licensed or regulated broker even though it states offers that look good to be true.
FinexTrader claims to be a regulated broker under multiple regulations including International Regulators & Brokerage E-Markets (IRBEM), Market Financial Authority (MFA) and Swiss Financial Securities (SFINS). However, none of the organizations mentioned has authority of regulating forex activities or issuing forex licenses.
FinexTrader also claims to be a UK-based company. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (FCA). However, we did not find any results matched this broker in FCA.
Moreover, several regulatory bodies issued warnings against this scam broker for not being authorised to carry out financial services, including the Austrian Financial Market Authority (FMA), the France Autorité des Marchés Financiers (AMF), and the Italy Commissione Nazionale per le Società e la Borsa (CONSOB). You can check full warnings from AMF, FMA, and CONSOB.
The truth is, FinexTrader is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like FinexTrader and trade with licensed brokers.
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