Finantik Review Is Safe

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo

    2nd in our ranking!

Finantik Review: Is Safe?

Finantik Review: Is Finantik a legit broker or just another scam? How much do you know about Are they worth your while? Read our review to find out. is the website of Finantik, a Forex and CFD brokerage registered in St. Vincent and the Grenadines. It is created and run by Pro Star Griffith Corporate. A company we discovered to be associated with a number of online scam artists. This brokerage claims to provide potential traders with MetaTrader 4 trading platform, favourable trading conditions like low spreads, trading instruments and numerous assets. We were unable to find any useful background information on this broker.

HAVE YOU BEEN SCAMMED? If you have lost your money to online scammers, there is an opportunity you could get back your money.

Click HERE to start the recovery process

What Finantik Say They Offer

Finantik claims to offer traders the following:

  • MT4.
  • User friendly platform.
  • a wide variety of trading tools.
  • Favourable trading conditions.
  • Security of funds.

Finantik Trading Platform

According to Finantik’s website, they claim to offer MT4 trading platform. This is false. What this platform really uses is a web-based platform. It has no DDoS protection or SSL encryption. This constitutes a huge security risk.

Finantik Account Types

Finantik claims to offer four different account types to choose from and no demo account. These accounts are Classic, Gold, Platinum, and VIP.

  • Classic Account: minimum deposit is $1,000. Features are Desktop & Mobile Trader, Video Tutorials, Daily Briefing & Research.
  • Gold Account: minimum deposit is $10,000. Features are Desktop & Mobile Trader, Competitive spreads, Daily Briefing & Research, Video Tutorials, Webinars & Seminars.
  • Platinum Account: minimum deposit is $25,000. Features are Daily Briefing & Research, Competitive spreads, Webinars & Seminars, Desktop & Mobile Trader, General Account Manager,Video Tutorials, SMS News & Signals.
  • VIP Account: minimum deposit is $100,000. Features are Desktop & Mobile Trader, Webinars & Seminars, Premium Daily Analysis, General Account Manager, Competitive spreads, SMS News & Signals,Video Tutorials, Premium Customer Care, Daily Briefing & Research.

Finantik Withdrawal and Deposit Methods & Fees

This Brokerage’s most basic minimum requirement is $1,000. Deposits are via Visa, MasterCard and bank transfer. Fanantik’s website does not reveal any withdrawal fee and we have no idea how long this brokerage takes to process withdrawal. In fact, we were unable to discover any information regarding withdrawal. We suspect that withdrawal will pose a problem for unsuspecting traders.

Is Fanantik Licensed?

Fanantik is neither licensed nor regulated by any authorized financial body. Furthermore, its website does not display any document or evidence to prove otherwise.


To reach Fanantik :

Phone: +44 2038 078 227

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo

    2nd in our ranking!

Address: Pro Start Griffith Corporate Center, Beachmont Kingstown, Saint Vincent and the Granedines.


We do not believe that Fanantik is the safest broker for your investment. We advice you look further. Particularly, brokers that are licensed and regulated by authorized bodies.



Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Finantik Review – is it scam or safe?

Finantik says their mission is to make trading safe and secure. They offer some 50 forex pairs and various of CFDs on commodities, indices, stocks, gold, silver and crypto currencies, with a choice of four account types, leverage as high as 1:400 and the MetaTrader4 platform.

Account type Min. deposit Max. leverage Spread s/ Payout
Classic Account $1000 3 pips, fixed
Gold Account $10 000 1:400 n/a
Platinum Account $25 000 1:400 n/a
VIP Account $100 000 1:400 n/a

This may sound as a legit offer, and yet there are a number of issues about this broker, not the least of which is the fact that they have been blacklisted as a scam by the financial authorities in Italy. If you are considering whether it would be a good idea to deposit your funds with them, better read the following paragraphs.

Finantik Advantages:

Good variety of trading instruments

At the start of our reviews we usually try to come up with any possible advantages a broker might offer its clients, and here with Finantik this could be the comprehensive list of trading instruments. As we already noted they offer 50 currency pairs, some of which exotic or minor, as well as plenty of CFDs on precious metals, commodities, indices, stocks and even crypto coins like Bitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin and Dash. If you like the idea of trading the crypto markets however, we would also suggest that you check our list of brokers offering Bitcoin CFDs as well:

Finantik has a UK contact number, but is actually owned and operated by an offshore company – Pro Star Limited, which is based on St. Vincent and the Grenadines.

And although Finantik try to convince their customers, that they are a legit and reliable broker, the truth is they are just another unregulated website, which lacks credibility whatsoever. And all of that has not gone unnoticed by the financial authorities in Italy – as we already noted Finantik is blacklisted by the Italian financial supervisory authority – CONSOB. You can see the warning here:

Our best advice in such cases is to trade only with legit and properly regulated brokers, licensed and authorized by well known institutions like the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK or let say the Cyprus Securities and Investments Commission (CySEC). Bear in mind as well that with a FCA broker the first 85 000 GBP of your trading capital will even be covered by a client compensation fund, so here you may also check our list of brokers, regulated in the UK:

Market maker offering managed account

Finantik offer what they call MAM accounts, which is basically a managed account, where you authorize some “account manager” to manage your funds on your behalf. The issue here is that virtually all brokers are market makers, which means they make money whenever traders lose. So if market makers offer to manage your account, they will surely have the incentive to mismanage your funds and lose them in their own pockets.

Trading bonuses with additional withdraw conditions

And this is yet another worrisome sign. Trading bonuses always come with some minimum trade volume requirement, which scammers love to use as a pretext to cancel your withdraw requests. The practice is highly controversial and is altogether banned on regulated markets like the European Union, the UK and Australia.

High minimum deposit requirement

With most brokers you will be able to open a trading account with about 250 USD, but Finantik asks for a minimum deposit of no less than 1000 USD and this is simply unacceptable. And bear in mind as well that with some well known names like FBS and IG you can start trading with just 5 USD or so.

MetaTrader4 provided by a third party

The presence of MetaTrader4 has always been a good news. As we downloaded the platform from the Finantik, however, it turned out MT4 is provided by a third party – a company by the name of AlgoTrade Limited – and this, we should note is not a common practice. Otherwise MetaTrader4 is by far the most popular trading platform on the market. It features well over 50 modifiable market indicators and trading robots with the help of which one can easily run automated trading sessions.

And because MT4 comes with an excellent set of advanced charting tools as well, here you may also check our list of brokers, which do support the platform:

Finantik is a unregulated, offshore broker, which is blacklisted by the financial authorities in Italy for targeting European customers without authorization and possibly running a scam. Our best advice in such situations is to avoid unregulated websites like Finantik altogether and to trade only with brokers, which are licensed and authorized by one of the official regulatory institutions like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Finantik review – 5 things you should know about

Beware! Finantik is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Finantik is a forex brokerage registered in Saint Vincent and the Grenadines. It provides the MetaTrader4 trading platform and a leverage of 1:400. The spread is twice the industry average and the required minimum deposit is the absurd sum of $1000 which renders the trading conditions quite unfavorable.

Finantik regulation & safety of funds

On the brokers website we read that the broker brand is owned and operated by a SVG-based company registered under the name Honest Capital LTD. Saint Vincent and the Grenadines are well-known offshore zone and a preferred location for shady brokerage.

Readers are reminded that the government of SVG has had to publicly state quite a few times in the past that it does not regulate Forex trading and thus we may safely conclude that not only is the brokerage not regulated. Furthermore, trading with an offshore, unregulated brokerage hides a lot of risk. There may be commingling which means that the brokerage may commingle together the finances of the firm and the finances of the clients. On top of this, we came across the name of the brokerage on the warning list of the Italian financial watchdog CONSOB which means that the broker has been illegally targeting European traders and has fallen on the radar of relevant authorities. Furthermore, while going through the website of the broker we discover that Finantik acts as a market maker while simultaneously offering clients “managed accounts” which is a big problem since is constitutes a serious conflict of interest. Market makers only yield a profit when the client losses and if such a broker offers to manage the accounts of the clients, it feels like a definite scam.The lack of legitimate regulation and the official warning puts tremendous risk on any transactions with ProFX247.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

Finantik trading software

Putting this aside, the brokerage does provide the MetaTrader4 terminal which is the foremost platform in online trading at the moment. Furthermore, a demo account is offered for interested traders. We have always said that a test-drive of the trading terminal is the most transparent way of getting acquainted with the trading conditions of the broker and we view it as a must for every brokerage striving for legitimacy. We could see a wide range of trading products including CFDs on stocks, indices, metals and currency pairs. The spread, however, at 3 pips is above what we would consider favorable. The leverage extended to traders goes up to 1:400 which is more than 12 times the allowed leverage in the regulated European market.

Finantik deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via the standard Visa and MasterCard, bank wire, however, e-wallets such as WebMoney and QIWI are missing.

We did find any troubling provisions in the terms and conditions of the brokerage. There is a dire trading requirement in order for the bonus promotion to be eligible for withdrawal. This is why we remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or The bitcoin miner where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing achargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!u

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo

    2nd in our ranking!

Like this post? Please share to your friends:
How To Start Binary Options Trading 2020
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: