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is Finex Group regulated?
Beatriz Kangjeon
Namibia
2023-10-08
ANSWER No, Finex Group is not regulated.Finex Group claims to have started its business since 2006, but its domain name "finexgroup.co" was first registered in April 2022. This discrepancy points to its fraudulent nature.While Finex Group allegedly has offices globally, our search for the broker in databases of relevant financial regulatory bodies didn't yield any matching results. That means it is illegally launching its business across the world.In its legal documents, Finex Group refers to itself as "Cordelino Ltd." and says this company is registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) with Reg. number 25981 BC. However, there is no such number or company name in the SVG FSA register. What's more, the SVG FSA doesn't license and regulate forex trading brokerage activities.As such, BrokersView strongly suggests investors steer clear of Finex Group. It is not regulated by any financial watchdog, and its offerings are illegal. Individuals engaging with the platform are likely to fall victim to fraud and identity theft. To avoid such risks, it is advisable to choose a fully regulated broker instead.
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