FinVizion – Can You Trust Them?

Website URL: https://finvizion.net

Founded: 2022

Regulations: Not Regulated

Languages: English

Deposit Methods: Wire Transfers, E-Wallets (Not Specified), Credit Cards

Minimum Deposit: €250

Free Demo Account: Unavailable

Number of Assets: 200+

Types of Assets: Foreign Currencies, Digital Currencies, Commodities, Indices, Shares

Trading Accounts and Conditions

FinVizion offers their clients the following trading accounts:

• Standard: The required deposit amount is €250. The maximum leverage ratio is 1:200.
• Pro: The required deposit amount is €2,500. The maximum leverage ratio is 1:300.
• Expert: The required deposit amount is €25,000. The maximum leverage ratio is 1:600.

Other trading conditions such as spreads, commissions, etc., are not mentioned anywhere on this broker’s website. However, when we checked their web-trader platform, we found that the EURUSD spread was at 0.0 pips.

FinVizion – Advantages

FinVizion is not a broker to be trusted; there are no advantages to trading with them.

FinVizion – Disadvantages

Here are all the issues that lead us to believe that we are dealing with a scammer:

• Anonymous and Unregulated Broker

FinVizion claims to be a global brokerage firm that specializes in currencies and derivatives investments and trading. The broker also boasts that they have private clients from all over the world.

However, a reputed broker would ensure that they provide all their corporate details – company name, physical address, various ways to get in touch with them and their regulation status.

With FinVizion, we have absolutely no information about the broker, their parent company, their physical location, contact details or even regulation status. Thus, we are dealing with an anonymous broker that is not regulated in any way. A typical scam operation.

So, unless you wish to throw your money away, there is no reason to deal with a broker like FinVizion.

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• Poor Trading Software

A broker’s biggest product is their trading software. And because of this, legitimate brokers go out of their way to ensure that they offer only the best possible trading software in the market. And this usually means offers their clients either the MetaTrader 4 or MetaTrader 5 or even both platforms.

These are the two best trading platforms in the market today – for good reason. They are both very user-friendly and with so many great features that trading is almost intuitive when you use these brands of software.

However, with FinVizion, we are offered a sub-par platform. A web-based trading software that doesn’t do much more than allow traders to buy and sell assets. And besides a couple of charting options, there isn’t much else that this trading platform offers. In fact, we haven’t seen any legitimate broker use this kind of a platform – only the scammers.

• Issues with Trading Conditions

From their Accounts page, the only information we get in the minimum deposit requirement and the maximum leverage offered for each account type. There is no mention of spreads or commissions or other trading conditions.

With regard to the minimum deposit, a 250-Euro deposit requirement is on the higher side, especially when you consider the fact that numerous legitimate brokers will invite you to open an account with them for as little as $5.

The leverage is too high at a maximum of 1:600. While offshore locations and growing markets (such as those in Asia and Africa) allow for such high levels of leverage, most regulated markets have placed limits on the ratios traders can use. This has been done to protect both traders and brokers from the heavy losses that are associated with high leverages. Thus, in the EU, the UK and Australia, the leverage is at a maximum of 1:30. In the US and Canada, the maximum leverage is not more than 1:50. In Japan and Hong Kong, that figure is 1:20, and so on.

We noticed that the spreads were not mentioned on their website, however, on their web-trading platform, the EURUSD pair showed a spread of 0.0 pips. This is, of course, an unrealistic figure, since this would mean that the broker would suffer heavy losses – or that the fees and commissions were extremely high to make up for the tight spreads. Since we don’t have any information on the commissions this broker charges, we can only assume that this is a fake figure inserted by FinVizion to attract unwary novice traders to invest money with them.

Everything about this broker’s trading conditions tells us that we are dealing with a scammer.

• Issues with Payment Options

We accessed FinVizion’s payment area to verify the information that they had provided with regard to their payment options. However, as soon as we accessed the portal, and were reading through the information, we were given an error message, and we could no longer access the payment area.

Thus, all we know is that there are three types of payment options – wire transfers, credit cards and e-wallets. However, the broker does not specify what e-wallets they offer.

• Unfair Withdrawal and Deposit Policy

We went through FinVizion’s Withdrawal and Deposit Policy and found out that these terms were unfair for all traders.

If you wish to make a withdrawal using the Wire Transfer option, the you will need to pay a $50 transaction fee. For credit card transfers, the fee is $35. And for the e-wallets, that fee is $25.

Furthermore, you will face further charges if you attempt to withdraw your funds without first meeting the broker’s trading turnover target. According to their policy, you need to first have completed as least a 200x trading turnover before you can withdraw your funds. If you decide to withdraw your funds without reaching this target, then you will be fined a 10% levy (on what is not specified).

And finally, if you withdraw using bank transfers, then you have to withdraw at least $250. And if you use credit cards or e-wallets, then you need to withdraw at least $100.

Such unfair terms are normally associated with scammers. 

Conclusion

FinVizion is a shoddy scammer that needs to be avoided at all costs.

FinVizion

2.5

User Experience

3.5/10

Payment Options

2.4/10

Security

2.5/10

Support

2.1/10

Reputation

2.2/10

Pros

• None

Cons

• Anonymous and Unregulated Broker
• Poor Trading Software
• Issues with Trading Conditions
• Issues with Payment Options
• Unfair Withdrawal and Deposit Policy