FINOWIZ Review: An FCA Warning and Withdrawal Complaints to Check Before You Deposit

FINOWIZ, a trading name of Finowiz Fintech Limited, presents itself as a forex broker founded in 2020 and registered in Saint Lucia. Its materials describe MetaTrader 5, leverage up to 1:500, and accounts starting from $100. The decision-critical signals point the other way: an FCA warning for unauthorised activity, no active forex licence in its records, a WikiFX score of 1.77, and repeated withdrawal complaints from Indian clients. This review sets out what can be confirmed and what you should verify before funding an account.

Complaint Pattern Analysis

WikiFX records include multiple withdrawal-related complaints from Indian clients, with users reporting that withdrawals were delayed or never processed. One newer review, also from India, says agents pushed the user to invest while the company is “not transparent at all,” and the user could not find any trading-fee details.

According to these reports, deposits appear to go through, but getting money back is where problems surface. Not every review is negative; one user reports withdrawals processed within one or two days and calls the platform reliable. Still, the withdrawal-related complaints are specific and repeated enough to weigh before funding an account.

Regulatory Warning

The most serious confirmed signal is the FCA warning. The UK Financial Conduct Authority has placed FINOWIZ and FINOWIZ LIMITED on its Warning List of unauthorised firms, stating the firm “may be providing or promoting financial services or products without our permission” and is “not authorised by us.” The warning, dated March 2023, tells consumers to avoid dealing with the firm.

The company's own materials describe a FinCEN registration, a US crypto and money-services registration rather than a retail forex licence. No active forex licence appears in its records, leaving retail clients with little oversight if something goes wrong.

Basic Information

FINOWIZ was founded in 2020 and is registered in Saint Lucia. It offers MetaTrader 5 across three account types: Micro (from $100), Standard (from $1,000) and ECN (from $2,500), with leverage up to 1:500 on Micro and ECN. Its materials list forex, indices, metals, cryptocurrencies and energies, and advertise a 100% tradable bonus, while conceding limited payment options and non-functional educational resources.

WikiFX Dealer Page

Score and Influence

FINOWIZ holds a very low WikiFX score of 1.77. Combined with the FCA warning and the withdrawal complaints, the confirmed red flags outnumber the reassurances. Even favourable reviews sit alongside specific complaints about transparency and withdrawals, so marketing alone does not give a clean risk picture.

Final Thoughts

Based on what can be confirmed, FINOWIZ's promotional claims do not line up with its regulatory reality. An FCA warning, no active forex licence in its records, a 1.77 score and repeated withdrawal complaints together make this a platform that deserves careful, independent verification before any serious deposit.

Before funding, verify the current regulatory status yourself, start with a small amount and test a withdrawal early, and review live scores and complaints on the WikiFX App before committing larger funds.