The Official Website Of FinanceX Cannot Be Accessed Normally At Present. The Company Seems To Have Closed Down. Therefore We Can Only Collect Some Relevant Information For Reference Only.
2022-06-30 The Austrian FMA Has Placed FinanceX On The Warning List
On June 30, 2022, The Austrian Financial Marekt Authority (FMA) Issued A Warning That FinanceX Is Not Authorized To Carry Out Bank Transactions In Austria That Require A Business License. Therefore, The Dealer Is Not Allowed To Conduct Commercial Transactions On His Own Account Or On Behalf Of Others. You Can Visit The Following Website For Details: Https://www.fma.gv.at/en/big-box-ltd/
2022-07-26 We Have Reviewed And Confirmed That FinanceX Is An Unregulated Foreign Exchange Dealer
The Domain Name Of FinanceX Was Created In February 2022, Less Than A Year After It Was Created. However, This Contradicts The Claim Of FinanceX's Homepage That It Won Multiple Awards In 2020 And 2021. This Is A Strong Red Flag.
FinanceX Also Claims To Be Registered With The Saint Vincent And The Grenadines Financial Services Authority (SVG FSA) With Registration Number 26491 BC 2021. We Found Results Matching This Broker In The SVG FSA. However, Please Note That The SVG FSA Does Not Regulate Forex Activities Nor Issue Licenses To Operate Forex. In Other Words, Having A Registration With The SVG FSA Does Not Imply An Authorization To Provide Forex Services.
Furthermore, The Austrian Financial Marekt Authority (FMA) Has Issued A Warning That FinanceX Is Not Authorized To Carry Out Banking Transactions In Austria That Require A License To Operate. Therefore, This Broker Is Not Allowed To Conduct Commercial Transactions With His Own Account Or On Behalf Of Others.
In Fact, FinanceX Is Not Regulated By Any Regulatory Authority. It Is Not Safe To Let This Dealer Hold Or Control Investor Funds, And Investors Cannot Be Protected By Any Laws. It Is A Fake Broker.
Due To The Inability To Access The Broker's Website Now, We Are Also Unable To Obtain More Direct Details About Its Trading Assets, Leverage, Spreads, Trading Platform, Minimum Deposit, Etc.
As For Regulation, It Has Been Verified That FinanceX Does Not Currently Have Any Valid Licenses.
But Most Non-compliant Brokers Will Not Disclose To Provide Other More Direct And True Contact Information, Such As Phone Numbers Or Company Addresses.
Note: FinanceX As A, Unregulated Broker, Which Means That Clients' Investments May Not Be Adequately Protected. Due To The Lack Of A Regulator To Hold Companies Accountable, The Lack Of Regulation Increases The Risk Of Potential Financial Losses.
If Investing In An Unregulated Broker, There Is A Good Chance That They Will Run Away With Your Hard-earned Money Without Any Recourse. Therefore, Investors Must Be Extremely Cautious And Remind Everyone To Stay Away From These Unregulated Brokers As Much As Possible When Choosing A Broker.
