Finx Brokers is a relatively new unregulated offshore broker. FinX Brokers LLC was registered in St. Vincent & The Grenadines just a few weeks ago on February 11, 2022. The domain www.finxbrokers.com was only registered on 2 Feb 2022 through NameCheap. Neither the links to the social media platforms work nor the registration. From some text elements on the website, we conclude that this is a Turkish offshore broker ready to launch soon. You should stay far away from unregulated offshore brokers like Finx Brokers to protect your money and data!
|Trading name||FinX Brokers|
|Legal entity||FinX Brokers LLC|
|Corporate agents||Euro-Caribbean Trustees Ltd|
|Jurisdiction||St. Vincent & The Grenadines|
|Contact data||+382 699 552 48 (Montenegro)|
As with Turkish DegerFX, we also noticed a Montenegrin phone number for contacting FinX Brokers. Apparently, these Turkish offshore brokers operate through boiler rooms in Montenegro.
FinX Brokers has no authorization in UK or Europe to offer its regulated financial services. Neither are they authorized in Turkey. The SVG Financial Services Authority (FSA) explicitly stated that it did not issue broker licenses only a few weeks ago. Moreover, offshore broker licenses are not valid in most other regulatory regimes.
We always point out that offshore brokers pose a high risk to traders. They are not supervised, and no one knows if the operators adhere to regulatory requirements such as segregated customer funds. Therefore, we also issue a warning against FinX Brokers.
If you have any information about FinX Brokers, its operators, and facilitators, please let us know through our whistleblower system, Whistle42.