We have received several requests, as of late, to outline the particular clues that may suggest a given trading website is operating in bad faith or is complicit in financial wrongdoing.
We will attempt to do so here and bring insights we have gathered from analyzing thousands of transaction-dispute cases and complaints we have received regarding unregulated trading companies.
Website address: finocapital.io
Finocapital has a clear explanation about the ‘advantages’ of ‘trading’ with their platform as well their company values and general information about the cryptocurrency market. In addition they offer to choose between a web-based ‘trading’ platform and a ‘Ctrader’ option where their clients allegedly invest their capital.
Finocapital offers a trading bonus of 20% for the amount that you deposit. If you ‘invest’ more than $10,000 they will offer you a $2000 bonus.
**Note: In the past it has been shown that trading bonuses can be used to support the illusion that one cannot withdraw his or her investment due to some dubious ‘trading volume’ reason, even when the trading company in question does not have a financial license necessary to support such claims.
Finocapital offers different account types: “Standard” and “Premium” with varying benefits: leverage, support from personal “account managers”, market analysis and “attractive” market prices. You can trade on various financial assets on their platform.
Finocapital offers several methods of deposit: Credit/debit cards, Wire transfers and Bitcoin transfers.
As is written on their website, FinoCapital is owned by Lollygag Partners LTD, registered at 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica with number: IBC00079
To the best of our knowledge to date, Fino Capital is not in possession of any financial or trading licenses relevant to the United Kingdom, Scandinavian countries, Switzerland, Europe, Australia, New Zealand or Canada at this moment in time.
Finocapital reviews: There are several websites warning against trading with unregulated trading companies who are registered on some island rather than a respectable regulatory body in the EU. There are as well several bad reviews online regarding Finocapital from websites such as and Personal-Reviews.
Finocapital refund: As this company is not regulated by the FCA in the United Kingdom or any other proper, major financial regulator, if you request for a refund and are met with difficulties, you will not be able to turn to these regulators and ask for assistance.
This poses a severe risk to individuals seeking to invest their money and have peace of mind that they have someone to turn to, should things turn sour.
Important! Registration and Regulation
In order for any company to be able to offer financial services of any kind, they must be in possession of the relevant licenses. For example, if you are an Australian citizen and a company approaches you, offering trading or investment advice, they are obligated by law to be regulated by the Australian Securities and Investments commission.
If the company that approaches you does not have the financial license appropriate for your country of residence, they are committing a crime by soliciting their services and accepting your money.
Has a Fino capital warning been issued yet?
A warning has indeed been issued against finocapital.io by the Financial Conduct Authority (FCA) in the United Kingdom on the 12th of February, 2021.
If your broker is not regulated by the regulatory body relevant to your country and they are still soliciting their services to you, accepting your deposits and giving you investment advice or worse – managing your money, BEWARE!
Trading with unregulated brokers more often than not results in a glorified Ponzi scheme experience and with some or all of your money out the window.
Common complaints we receive from clients, generally, regarding unregulated trading websites:
– First payment they ask you to make is always a small amount like 250. Once you pay you are then asked to deposit more money (a few thousands) because according to your new broker: “it’s just not enough!“.
– Unsolicited, pressure-sales calls, manipulative sales tactics, constant advertisement-emails and unfair duress on said calls.
– They befriend you and are being nice to you only when you are depositing money. The second you stop coughing up coins so and start questioning/requesting for a significant amount back (more than 60% of your overall deposit), the problems begin and the positive attention dissipates.
– The method of transfer is usually by bitcoin: you either use your credit/debit card or an e-transfer/wire transfer to send money to a third party exchange where the fiat money is converted to some cryptocurrency. Then you send the money to a crypto-wallet.
– These companies usually operate on bad faith, lie and manipulate people into sending them money under the guise of promises and guarantees to increase one’s income, pension or lifestyle.
– “Account managers” keep changing and for different reasons each time. Sometimes a long overdue vacation, on occasion it’s a promotion to a remote management position and at times a “personal” tragedy that besets the sales agent or exposure to some terrible illness or Covid-19.
– Constant difficulties of withdrawing any significant amount back, after being told, upon joining: “You can always withdraw your money, you don’t need anyone’s approval”.
– Demands for some kind of fee or new payment for releasing the “profits” that have accumulated in the account, i.e – the “last payment you will have to make”.
– Threatening, hurtful and/or abusive phone calls, emails and whatsapp messages.
– Blaming the victim for not being on point or on time, missing the right “entry rate” etc.
– When you transfer money to them it is never to an account under the trading company’s name. It is always a completely different name than the website’s, often times in questionable locations around the world.
– Usage of a remote control software like ‘Anydesk’ to access your computer and online banking so that they can establish a connection to your bank account and check that they can transfer money to you.
Whom do fraudulent trading websites target:
The target is anyone over the age of 18 that has access to capital, whether in form of credit or liquid. Their ideal victim has retired and has plenty of time and resources to commit to a scheme of their choosing.
They target compassionate, empathic, brave people and encourage them to take unnecessary risks and in some cases, borrow large amounts of money.
If you believe you have been stung by an investment scam contact us now using the form below for a free consultation on how you can get your money back!