Review: This CFDs Broker is a Scam

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Finotrend joins the long list of scam Forex and CFds brokers that keeps luring traders, thus making them go into depression by stealing all their life savings. Finotrend pretends that they care about your financial goals and will offer a solution. They advertise that the platform is intuitive and transparent. However, when we logged into the trading platform, we found a binary options like trading software. This setup is akin to a gambling type of platform where traders can choose buy or sell to make a profit or a loss.

The reason Finotrend is a dangerous website is because they don’t actually offer regular trading of Forex like these brokers. It is actually a binary options trading platform. Moreover, they are claiming to be based in the European economic area but not disclosing their licensing details. The broker is beating around the bush while trying to appear legitimate at the same time. We feel that there are so many red flags that make a dangerous website to “invest in”.

Finotrend Review: The regulatory status of this broker

Well, the status is negative. Financial watchdogs that regulate brokers in this jurisdiction include ESMA, EBA and EIOPA.

Finotrend is not authorized by any of these financial regulators to offer financial services to the general public.

Trading with this broker is therefore a risky affair as they are basically operating a thieving scheme and disregarding regulations that govern how Forex brokers are supposed to operate in this region.

Moreover, binary options are prohibited in the EU. This means no broker can legitimately offer binary options in this jurisdiction. The reason they are banned is because of the nature of these instruments where brokers tend to scam investors by trading against them.

Binary options are basically prone to fraud because of their theoretical asset pricing. As a matter of fact, it is not possible to find a legit binary options broker in the EU or where Finotrend is operating out of.

Very negative reviews about Finotrend

When a broker is fraudulent, they tend to be discussed in a negative way. This is the case with Finotrend and other scam brokers like Pro Elite Markets, and Plus FX.

Finotrend has been basted as a fraud by so many victims. Other reviews on the internet also point to these very reasons and warning investors not to trust these thieves.

What to do if you have been scammed by Finotrend

Now that there are many victims who have lost money to this fraudulent scheme that pretends to be a legit broker, there’s a likelihood that some internet users who will read this review will have been made a victim already.

If you have been scammed or you lost money by trusting Finotrend and proceeding to make a huge deposit, then I impore you to use the live chat on this website or fill in the form in this review.

Once you present your case to the relevant chargeback agency, they will evaluate your situation and see whether you qualify for chargeback or not.

Don’t worry as 99% of the cases qualify for chargeback. The agency will provide you with step by step details of what to do in order to get back your money. Your job is to follow their advice to make your chargeback a success.

The conclusion

Finotrend is a pathetic scam. Even those reviews on the internet will confirm the same as the number of people who have lost money to them is huge.

We plead with you not to ignore this review and if you lost a big chunk of an investment, it’s time to spring into action by requesting a chargeback.

Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..

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