Financikatrade Review: Scam Broker?

Financika
0.5

Summary

Financika is a scam broker feigning legitimacy through a weak financial regulator called VFSC. If you seriously want a good broker, find them in this list and if you don’t know how to trade, equip yourself with these resources.

Pros: At least regulated and minimum deposit reasonable.
Cons: A well-known scam associated with 70 Trades and Bforex brokers. Financika is weakly regulated and reports indicate they are repeat scammers. They don't have an MT4 platform and there is zero trust about this company and its operative

Therefore, if you compare a platform like MT4, MT5 and cTrader, PROfit automatically becomes an inferior choice – in my opinion.

Is Financika a scam?

Due to the many negative complaints which we have received against this broker and even saw on the internet, I believe that Financika is a scam just like Finq.com and many others.

financikatrade scam

I also don’t believe in what they call ”investment insurance”. There is no way a broker can legitimately cover your first 5 trades if they end up in losses because that would be too good to be true.

Unless they are market makers where they give back a small portion of what they have robbed from you, I don’t see how this will be possible.

I also have not sampled the quality of their trader education but this appears to be a ploy to generate interest on Financika’s products.

Conclusion

I have absolutely no interest in trading with a broker like Financika because first and foremost, they do not have my favorite trading platform and secondly, they have a history of scamming traders and third, they are not strongly regulated. The list is actually endless.

Thanks for reading this Financika review. If you have questions or remarks, add them in the comment section.

Also, do not forget that if you do not know how to trade, these affordable trading solutions could give you an edge right away even with zero trading experience.

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