Finotive Funding Review – Is This Broker Worth Your Money?
Finotive Funding presents us with something different. European broker but anonymous as an offshore one. With their registration in 2021 and registration number in Hungary, they should comply with many European regulations.
However, already first glance at the broker’s website shows us many flaws. We’ll cover all of them in this latest Finotive Funding review. Also worth checking are these two scam brokers that will show you similarities – PrismCapital and Trades Universal.
|Company||Finotive Funding Kft|
|Spread||From 0.2 pips|
|Review Rating||Average 4.0 on Trustpilot|
Finotive Funding Regulation and Funds Security
Hungary as one of the fastest-growing countries in Europe wouldn’t be there without strict rules. They are known for such things. Therefore, avoiding HFSA (Hungarian Financial Supervisory Authority) would be such a mistake. In general, they are in charge of providing forex licenses. Thus, their register doesn’t show any results on the research of Finotive Funding.
The more we are looking, the bigger disappointment we feel. In fact, this broker doesn’t have any Tier 1 licenses. From FCA, BaFin, or CONSOB to ASIC and CySEC. So, all the securities they promise traders to have might be fictive. Because they are not obligated to comply with anything.
Another confirmation of a clear investment scam is their leverage. As the European-based broker, they should have maximum leverage of 1:30. That’s how much regulators allow as the maximum. Thus, they provide as high as 1:500.
Trading Platform Overview
More discrepancies we could find by attempting to get to their trading room. In fact, that’s impossible without depositing funds. Which raises suspicion even more and puts a big shadow on this scam broker. Allegedly, Finotive Funding scam broker provides Meta Trader 5. Even though it’s not rare that even scam brokers use it, that’s barely possible here.
Even after you register you can’t get access to the platform. That makes you wonder if they have any platform at all. But even if they have it, most likely that’s some web-based untrusted software. Similar to the ones that scam brokers are using to manipulate their traders.
Above all, that’s another example of why regulation plays a key role. It requires brokers to be transparent. Therefore, we suggest you find a Tier 1 licensed broker on time. Before you lost all of your funds.
Finotive Funding Funding Methods
Very few brokers have completely transparent funding methods. With Finotive Funding broker scam that’s the complete opposite. They claim to have certain options. However, they didn’t completely agree on what exactly they wanted to offer.
In general, they accept the following:
- Wire transfers
Important to realize is that the broker promotes primarily methods that can’t have a chargeback. Also, they claim to have card payments available. Apparently, they use Stripe as one of the most known payment gateways. Thus, this broker is not presenting anything transparently. Therefore, no reason to trust this either.
Account Types Available
Account types with Finotive Funding brokers are designed differently. All of them start with the same amount, $2.500. However, the idea is reaching a certain return on investment. However, to get access to certain account types you must pay a fee. Thus only for one account type, do you have a refundable fee.
Your choices with Finotive Funding scams are:
- Classic Challenge
- Instant funding (Standard)
- Instant funding (Aggressive)
If we will trust the FAQ section the broker offers a swap-free account. But it might be just a trick to get you into depositing. To test everything out is impossible. Simply because the broker doesn’t have a demo account.
Instead, you can check our list of brokers that have all those features available.
How the Scam Is Undertaken
Investment scam is almost always the same. The company promotes unrealistic market returns in a short period of time. With an unknown situation on the market, nobody can guess what is going to happen tomorrow. As shown above, their platform could be manipulated. Therefore, all data is controlled by the broker and their agents.
This way they will present you with data that’s not realistic. But if you believe it and deposit more money, you can forget about it. As we can see, almost 25% of Finotive Funding reviews claim the same thing.
Luckily, we have a fund recovery team available for consultation. Whether this or any other broker steals money from you, you can get it back. With our team, in the first 540 days upon card transaction, you can file a chargeback. Also, for hardly traceable crypto transfers we have a CipherTrace. Amazing tools that can trace all crypto transfers. This way you can expose the scammer and get your money back.
Get in touch today and book your first consultation! Don’t let these swindlers get away with your money.
Finotive Funding Summary
- Broker without transparent withdrawal policy.
- Finotive Funding doesn’t have regulation.
- Leverage violates all EU Regulations.
- The company doesn’t provide transparency for trading software.
- High minimum deposit requirement.
FAQs About Finotive Funding Broker
Is Finotive Funding Offer a Demo Account?
No. Traders can only open 3 different types of live trading accounts with a Finotive Funding broker.
What Is The Minimum Deposit at Finotive Funding?
The minimum for a classic challenge account starts at $2.500. The industry average is $250.
What Instruments Are Available for Trading with Finotive Funding?
Instruments available with Finotive Funding are Forex, Crypto, Commodities, Indices, and Shares.