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FintechFX -

Score

2.00 /10
Danger

FintechFX

United States

Scam Brokers

5-10 years

Suspicious Regulatory License

Australia Investment Advisory License Revoked

Suspicious Overrun

High potential risk

https://fintechfx.com/

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Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.38

Risk Management Index0.00

Software Index6.91

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

MY SCM
2020-01-01
INVESTOR ALERT LIST
FintechFX

Broker Information

More

Company Name

My Group Fintech Co Pty Ltd

Company Abbreviation

FintechFX

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2024-09-29
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

MIA fakes orders

It colludes with FintechFX, changing clients’ order data to lead their positions liquidated. All my accounts suffered great loss overnight.

XIANGXIANG
2019-06-09 03:03
Scam

Malicious frauds led to an overnight forced liquidations without profits

Feng Dijia colluded with the trader , who caused a forced liquidation in my account with maliciously purposes. I lost everything. Be aware of the risk.

FU@RONG
2019-06-06 18:33
Unable to Withdraw

Position liquidated overnight! Lost every penny!

FintechFX’s people logged in my account and made all my $20000 position liquidated by setting no stop loss order. Those were my hard-earned money. Many people I knew lost every penny on this platform.

LIUHUI
2019-06-05 00:25
Scam

The platform colluded with MIA, defrauding money

It promised my deposit would be kept safely, but it was all lost overnight. It obviously collided with MIA. No stop loss, the principal is not guaranteed, which caused a forced liquidation in my account.

XIANGXIANG
2019-06-04 23:30
FintechFX · Company summary

Is FintechFX a Scam？

  • Scam Brokers List

FintechFX has been listed on WikiFX's Scam Brokers list. The platform operates as a Ponzi scheme. Please be aware of the scam domains as follows: https://fintechfx.com/https://fintechfx.com/？lang=en

  • Regulatory Concerns

FintechFX claims to be owned and operated by MY GROUP FINTECH CO PTY LTD, a company registered in the United States. However, our investigation into the company's regulatory status with the National Futures Association (NFA) indicates that it is classified as “Unauthorized”.

Unauthorized NFA license

Moreover, the company's Investment Advisory License by the Australian Securities and Investments Commission (ASIC) has been revoked.

Revoked ASIC license

All the above means that FintechFX is not validly regulated by any authority. Consequently, investors' funds in this company are unsafe and not protected by any laws.

  • Scam Exposure

On WikiFX, “Exposure” is posted as a word of mouth received from users. Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

Scam Exposure

As of now, there are 8 pieces of FintechFX exposure in total. I will introduce 2 of them.

Exposure 1. MIA fakes orders

ClassificationFraud
Date 2019-06-09
Post CountryHong Kong

The user said that MIA colludes with FintechFX, changing clients order data to lead their positions liquidated. All his accounts suffered great losses overnight. You may visit: https://www.wikifx.com/en/comments/detail/208067866308067.html

MIA fakes orders

Exposure 2. Position liquidated overnight

ClassificationUnable to Withdraw
Date 2019-06-05
Post CountryHong Kong

The user said that FintechFXs people logged in his account and made all his $20000 position liquidated by setting no stop loss order. You may visit: https://www.wikifx.com/en/comments/detail/208069789704239.html

Position liquidated overnight

Scam Disclosure

  • 2020-01-01 The Securities Commission MalaysiaListed FintechFX into INVESTOR ALERT LIST

On January 1, 2020, the Securities Commission Malaysia (SCM) issued a warning that FintechFX was included in Investor Alert List. You may visit: https://www.wikifx.com/en/regulator/disclosures/202306291229139866.html？path=2&code=1481932848

Securities Commission MalaysiaListed FintechFX into INVESTOR ALERT LIST

User Reviews

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User comment

4

Comments

Write a review

郭长河
more than one year
OFFSHORE COMPANY. THEY DO NOT RESPECT YOUR TIME OR YOUR INVESTMENT AND THEY DO NOT RESPECT REGULATIONS. THIS IS WHY THEY ARE AN OFFSHORE COMPANY. THEY ARE ALSO ILLEGAL, STAY AWAY!
OFFSHORE COMPANY. THEY DO NOT RESPECT YOUR TIME OR YOUR INVESTMENT AND THEY DO NOT RESPECT REGULATIONS. THIS IS WHY THEY ARE AN OFFSHORE COMPANY. THEY ARE ALSO ILLEGAL, STAY AWAY!
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2023-02-21 13:54
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番茄就是西红柿
more than one year
¡Nunca operes con fintechfx! Lamento por qué no conocía wikifx, una plataforma en la que se puede verificar rápidamente la seguridad de los forex brokers. Ahora su sitio web no se puede abrir, ¡deben haberse escapado!
¡Nunca operes con fintechfx! Lamento por qué no conocía wikifx, una plataforma en la que se puede verificar rápidamente la seguridad de los forex brokers. Ahora su sitio web no se puede abrir, ¡deben haberse escapado!
Translate to English
2022-11-30 14:52
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