Forex is an international currency market where you can make money by exchanging one currency for another. However, in order to trade Forex, you need to have a reliable Forex broker who will give you access to the market, ensure the safety of your funds and guarantee the integrity of your trades. Unfortunately, not all brokers fulfil these requirements, and among them there are many scammers who try to cheat their clients and take their money. One such scammer is Finap Limited, which we will tell you about in this article.
Finap Limited is a company that is registered in St Vincent and the Grenadines but offers its services in different countries of the world. On its website it claims to be a leader in financial services, offers favourable trading conditions, high speed of order execution, low spreads, various instruments and bonuses. However, a closer look reveals many signs that Finap Limited is a scammer that has nothing to do with the real Forex market. Here are some of them:
Finap Limited does not have any licence from the regulators that oversee financial companies and protect the rights of investors. This means that the company is not subject to any laws and regulations, is not responsible for its obligations and does not guarantee money back in case of problems. In addition, the company is not a member of any compensation funds that can reimburse clients' losses in case the broker goes bankrupt. Thus, if you entrust your money to Finap Limited, you risk losing it irretrievably.
The Finap Limited website has a section with testimonials from clients who are supposedly satisfied with the company's services and make good profits. However, if you check these reviews, you will see that they are written by the same person who uses different names and photos. In addition, these reviews are completely the same as reviews on other scam sites that copy each other. This suggests that Finap Limited is trying to create a false impression of its reputation and attract new victims.
Finap Limited promises its clients high profitability, which is achieved through the use of special strategies, signals, robots and other tools. However, these promises have no confirmation and do not correspond to reality. There are no guaranteed profits in the Forex market and any trader can face losses. In addition, Finap Limited does not provide any proof of its trading activities such as transaction history, profit reports, audits, etc. This means that the company does not trade on the real market, but simply manipulates quotes and withdraws clients' money into its pocket.
Many clients of Finap Limited complain that they cannot withdraw their money from the trading account, or they have to wait for a long time, or they are required to pay various commissions and taxes. The company comes up with various excuses to delay or refuse to withdraw funds, such as checking documents, technical problems, the need for additional deposit, etc. This shows that Finap Limited does not want to return money to clients, but tries to lure them out even more.
Finap Limited actively advertises its services online using different channels such as social media, mail, phone, messengers, etc. The company attracts the attention of potential customers by using false information such as personal success stories, celebrity endorsements, special offers, free training materials, etc. The company also hires agents who pretend to be professional traders, consultants, managers, etc. and try to convince people to register on the Finap Limited website and deposit money into a trading account. This shows that Finap Limited is not interested in providing quality services, but only in collecting money from naive people.
From all of the above we can conclude that Finap Limited is a scammer that should not be trusted. If you want to trade in the Forex market, you need to choose a Forex broker that has a licence, good reputation, transparency, reliability and safety. You also need to educate yourself about trading, analyse the market, develop your own strategy and only risk the funds you can afford to lose.
If you have already been contacted by Finap Limited or other scammers, you should stop contacting them immediately, try to get your money back if possible and contact the police or other competent authorities. You also need to warn other people about the activities of these scammers so that they don't fall into their trap.
We hope this article will help you avoid Forex scammers and choose a reliable Forex broker. If you have any questions or comments, please email us. We will be glad to receive your feedback. Thank you for your attention!