Fintech Market Pro Review – Warning After Warning For This Broker
Fintech Market Pro Review, Fintech Market PLC is a company allegedly based in Steyr, Austria. Since 2022 they provide FX and CFD trading services but with a few major flaws. After numerous accusations, the dark truth has seen the brightness of the day.
Check out in our latest Fintech Market Pro review why you should stay away from this broker.
|Company||Fintech Market PLC|
|Warning||FCA, CONSOB, FSMA|
|Address||Stadtpl. 20-22, 4400 Steyr, Austria|
How Are You Safe at Fintech Market Pro? Regulation and Security
If the broker reveals their headquarters address it’s way easier to check the regulation. In this case, you just have to look into the register of the Financial Market Authority (FMA). Unfortunately, the results were disappointing. Generally, no information about Fintech Market Pro licensing. Thus, we continued searching in other registers.
Mainly within Europe. For example, CONSOB, BaFIN, FCA and CNMV. And voila. We got exactly what we were looking for. It’s not licenses, but warnings against this broker. Looks like that Fintech Market Pro scam broker didn’t bother reaching outside of Austria. Institutions like FCA, CONSOB and FSMA have issued a warning against this company.
Have in mind that this broker also tries to pretend that they are legitimate. Allegedly they are regulated by European Financial Commission. Thus, such an institution is not relevant compared to the ESMA. Maybe not even existent. On top of that, they claim to have negative balance protection and Tier 1 security fund. But considering their lies about regulations you shouldn’t trust much to this either.
An Overview of Trading Software
If you were expecting something extraordinary from the software offer, forget it. This scam broker only cares about your money. Not about the experience that you get. That’s exactly why they didn’t invest in trusted third-party choices like Meta Trader or cTrader.
Instead, the company has quite a poor offer with their web-based software. It is suspicious in many ways, but most importantly because it might be controlled by this scam broker. There are no demo accounts that would allow you to test them out. But with such a poorly designed website, you can’t expect much from the trading software either.
A very good comparison between brokers you can get if you check our FTMarkets and Expochains reviews. Don’t miss it.
Fintech Market Pro Account Types
With the Fintech Market Pro broker scam, you can choose between 3 available options. But none of those are good according to the Fintech Market Pro reviews.
Anyway, those are:
- Fixed $250
- Fixed with variable spreads $500
- Raw $1.000
On the positive side, all three account types offer an Islamic account. Spreads range from 0.1 pips for the Raw account to 1.8 pips for the Fixed. However, only the Raw account has a commission of $4 per round turn. All this would be nice and shiny if the broker is genuine. Since they are misleading traders about regulation and trading software, we shouldn’t trust this information either.
Funding Procedure at Fintech Market Pro
As with many other brokers, depositing the funds is never the issue. Payment options are quite narrow but have some advantages. In this case, it’s the availability of the chargeback. Your choices are:
- Debit and Credit cards
- Wire transfers
But if you are looking to withdraw some profits, prepare yourself for patience. Because this broker will find out ways not to allow it. Primarily with a shady bonus policy that makes withdrawals almost impossible. In this case, you must reach a trading volume 25 times bigger than your deposit and bonus amount together.
How is the Scam Carried Out?
Since the broker is not regulated they can fish for new clients everywhere. But also in various ways. Sometimes it’s the advertisement but sometimes is through social media. They don’t even hesitate to use trusted platforms like LinkedIn or Telegram to raise trust levels.
However, once you start depositing money and talking to their so-called agents, you realize the bitter truth. These scammers will do anything in their power to get everything from you. If you didn’t realize that on time, you are in a big problem. Especially if you are an inexperienced trader that doesn’t know the tricks. That’s why we reveal them all here.
The most important ones are withdrawal fees and taxes. Which is often used by broker to extort the last penny from you. Don’t fall for those because you won’t hear from them again. But if you did, get in touch with our fund recovery team as soon as possible.
Fintech Market Pro Summary
As can be seen, there are not many positive things about Fintech Market Pro broker. In fact, there are none. With misleading information about the regulation and non-reliable software, they can’t compare to licensed brokers.
After all, they wouldn’t have so many warnings if they are reliable. But because of shady withdrawal and bonus policies, they can’t get any trust from traders. Avoid such brokers at a wide angle. If you need any advice or recommendations our team is available for consultation. Most importantly, the first consultation is completely free. You can even sign up through our Online Chat.
FAQs About Fintech Market Pro Broker
Is My Money Safe with Fintech Market Pro?
No. The company is not regulated and security measures are not backed up with licenses.
Does Fintech Market Pro Offer a Demo Account?
No. There is no option to choose any risk-free account with this broker.
What Is The Minimum Deposit at Fintech Market Pro?
The minimum deposit starts at $250 and it matches the industry average.