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Fin Exchange

Marshall Islands|2-5 years|
Suspicious Regulatory License|Self-developed|Suspicious Scope of Business|High potential risk|

https://finexchnge.com

Website

Rating Index

Contact

+44 1618181500
support@fin-exchnge.com
https://finexchnge.com
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960

Licenses

No valid regulatory information, please be aware of the risk!

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

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1G

40G

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Contact number

English

+44 1618181500

Broker Information

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Company Name

Market Star Ltd

Company Abbreviation

Fin Exchange

Platform registered country and region

Marshall Islands

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-02-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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Fin Exchange · Company Summary

Note: Since this brokers official site (https://finexchnge.com) is not accessible at the time of writing this introduction, only a cursory understanding can be obtained from the Internet.

Risk Warning

Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.

General Information

Fin Exchange Review Summary
Registered Country/Region Marshall Islands
Regulation No regulation
Market Instruments currency pairs, indices, metals, futures, energy, shares, and cryptocurrencies
Leverage 1:400
Trading Platforms WebTrader, Desktop platform and mobile apps
Minimum Deposit N/A
Customer Support Telephone, email, online messaging

What is Fin Exchange?

Fin Exchange, a trading name of Market Star Ltd, purportedly operates as a forex broker without valid regulations, and holds registration in the Marshall Islands. The company presents an extensive range of offerings to its clients, boasting access to an impressive selection of over 300 tradable financial instruments. These instruments span across various markets, allowing traders to diversify their portfolios and explore multiple opportunities.

Fin Exchange's home page

Pros & Cons

Pros & Cons
Pros Cons
• Wide Range of Tradable Instruments • Lack of Regulatory Oversight
• Flexible Leverage Options • Unclear Minimum Deposit Requirements
• Multiple Account Types • Handling Fees for Deposits and Withdrawals
• Lack of Live Chat Support

Fin Exchange Alternative Brokers

There are many alternative brokers to Fin Exchange depending on the specific needs and preferences of the trader. Some popular options include:

  • Charles Schwab - A reputable broker that offers a variety of investing alternatives, strong research tools, and an intuitive interface for users of all skill levels.

  • Fidelity Investments - A trusted broker with a strong reputation, providing a wide range of investment options, retirement planning tools, and exceptional customer service.

  • XTB - Known for its combination of educational materials, comprehensive market analysis, and a custom trading platform, it's an excellent choice for new and experienced traders alike.

Is Fin Exchange Safe or Scam?

When it comes to regulation, it has been thoroughly examined and confirmed that Fin Exchange operates without being subject to any recognized regulatory authority. Consequently, the broker's regulatory status on WikiFX is categorized as “No License,” indicating a lack of oversight from reputable regulatory bodies within the financial industry. This absence of proper regulation raises concerns about the level of protection and accountability Fin Exchange offers to its clients.

Prospective clients should exercise caution and thoroughly consider the potential consequences before choosing to invest or trade with a broker that lacks regulatory oversight.

Market Instruments

Fin Exchange prides itself on providing an extensive range of financial instruments, encompassing a wide array of asset classes, enabling traders to diversify their portfolios and explore various investment opportunities.

One of the primary offerings promoted by Fin Exchange is currency pairs, allowing traders to engage in the dynamic world of forex trading. By providing access to major, minor, and exotic currency pairs, Fin Exchange enables its clients to participate in the global foreign exchange market, capitalizing on fluctuations in exchange rates and potentially profiting from currency movements.

In addition to currency pairs, Fin Exchange extends its instrument offering to include indices. These indices represent a basket of stocks from various sectors and markets, allowing traders to speculate on the performance of specific markets or broader economies.

Moreover, Fin Exchange facilitates trading in precious metals, such as gold, silver, and platinum, providing an opportunity for investors to hedge against inflation or economic uncertainties.

Furthermore, Fin Exchange offers futures and energy contracts, enabling traders to speculate on the future prices of commodities like crude oil, natural gas, and agricultural products.

Expanding its instrument offering even further, Fin Exchange provides access to shares, allowing traders to engage in the stock market. Clients can potentially profit from price movements in individual stocks of well-known companies, benefiting from dividends and capital appreciation.

Lastly, Fin Exchange caters to the growing interest in cryptocurrencies by offering access to digital assets such as Bitcoin, Ethereum, and other popular cryptocurrencies. By including cryptocurrencies in its instrument selection, Fin Exchange acknowledges the increasing demand for these assets and provides an avenue for traders to participate in this emerging market.

Account

Fin Exchange presents its clients with a range of options through its three real trading account types: Silver, Gold, and Platinum. These account types are designed to cater to different trading preferences, experience levels, and investment goals, providing traders with the flexibility to choose the account that best suits their individual needs.

The Silver account, likely positioned as an entry-level option, offers a basic set of features and benefits. It can be suitable for novice traders who are just starting their journey in the financial markets or for those who prefer a simpler approach to trading.

The Gold account, on the other hand, is expected to offer a more comprehensive set of features and benefits compared to the Silver account. It is suitable for traders with some experience in the markets who are looking for additional tools, resources, and potentially higher leverage options.

Finally, the Platinum account is likely positioned as the top-tier option, offering the most extensive range of features, benefits, and services.

While Fin Exchange advertises the availability of these three account types, it is unfortunate that the specific details regarding the minimum initial deposit requirements are not disclosed.

Account

Leverage

Traders who hold different account types with Fin Exchange are granted varying maximum leverage ratios, providing them with different levels of trading flexibility and potential risk exposure. The Silver account holders can access a leverage ratio of 1:200, offering moderate amplification of trading positions.

In contrast, the Gold account members are provided with a higher maximum leverage of 1:300. This increased leverage allows for greater trading power, enabling traders to potentially amplify their potential profits or losses.

At the top end, the Platinum account members enjoy the highest maximum leverage ratio of 1:400. This level of leverage provides the most significant trading power and potential for magnified returns.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Types of Accounts Maximum Leverage
Silver 1:200
Gold 1:300
Platinum 1:400
Leverage

Trading Platform

Fin Exchange provides a WebTrader platform, which is accessible through web browsers without requiring any software installation. This platform offers convenience and flexibility as traders can access their accounts and trade from any device with an internet connection.

In addition, Fin Exchange also offers a desktop trading platform that can be downloaded and installed on a trader's computer. The desktop platform provides a comprehensive trading environment with advanced features and tools.

For traders who prefer trading on the go, Fin Exchange provides mobile trading apps compatible with iOS and Android devices. These apps offer a user-friendly interface optimized for mobile screens, enabling traders to access their accounts, monitor the markets, execute trades, and manage their portfolios from anywhere at any time.

Trading Platform

See the trading platform comparison table below:

Broker Trading Platforms
Fin Exchange MT4/MT5
Charles Schwab StreetSmart Edge, Mobile App
Fidelity Investments Active Trader Pro, Fidelity Mobile App
XTB xStation 5

Deposits & Withdrawals

Fin Exchange offers multiple options for depositing and withdrawing funds, including bank transfers and credit/debit cards such as MasterCard and Visa. Clients can conveniently choose the method that suits them best, ensuring a smooth and accessible transaction process.

When it comes to credit card deposits, it's important to note that Fin Exchange may apply certain fees. These fees, although unspecified, are typically a percentage or a fixed amount charged for using credit cards as a payment method. Traders should review the terms and conditions or contact Fin Exchange's customer support to gain clarity on the specific fees associated with credit card deposits.

Similarly, withdrawals from Fin Exchange are also subject to handling fees. These fees, which are deducted from the withdrawn amount, are meant to cover administrative costs and processing expenses incurred by the broker.

In terms of processing time, it is important to note that deposit and withdrawal requests may take up to 5 business days or possibly more to be fully processed by Fin Exchange.

Payment Options
Deposit
Withdrawals

Customer Service

For urgent matters or immediate assistance, clients can contact Fin Exchange's customer support by telephone at +441618181500. The telephone support line is staffed by knowledgeable representatives who can offer real-time help and guidance to address any concerns or issues that traders may encounter during their trading journey.

For less pressing matters or inquiries that do not require immediate attention, clients can opt to contact Fin Exchange's customer support via email at support@fin-exchnge.com. This email support service allows traders to articulate their questions or concerns in detail and receive responses directly in their inbox.

Additionally, Fin Exchange offers the option for clients to send messages online to get in touch with their customer support. This web-based messaging system likely provides a user-friendly interface for submitting queries or feedback, making communication with the support team seamless and accessible from any device with an internet connection.

Company address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.

Pros Cons
• Multiple Channels • Lack of Live Chat
• Unspecified Support Hours

Conclusion

In conclusion, Fin Exchange presents itself as a forex broker offering a diverse range of financial instruments, multiple account types, and various customer support channels.

However, there are certain limitations and areas that require improvement. The lack of specific information about minimum initial deposit requirements, handling fees for deposits and withdrawals, and processing times can make it challenging for potential clients to make informed decisions, and the website is closed. Furthermore, the fact that Fin Exchange does not fall under any valid regulations, as indicated by its “No License” status, raises concerns about the broker's regulatory oversight and client protection measures.

Ultimately, individuals interested in trading with Fin Exchange should conduct thorough research, carefully review the broker's terms and conditions, and consider their own risk tolerance and requirements. It is advisable to seek independent advice and weigh the potential benefits and drawbacks before deciding whether Fin Exchange aligns with their trading goals and preferences.

Frequently Asked Questions (FAQs)

Q1: What types of financial instruments can I trade with Fin Exchange?]

A1: Fin Exchange offers access to over 300 financial instruments, including currency pairs, indices, metals, futures, energy, shares, and cryptocurrencies.

Q2: What leverage options are available with Fin Exchange?

A2: Fin Exchange provides different maximum leverage ratios based on the account type. Silver account holders can experience leverage of 200:1, Gold account holders have leverage of 300:1, and Platinum account holders enjoy the maximum leverage of 400:1.

Q3: Is Fin Exchange regulated?

A3: No, Fin Exchange is not regulated. It falls under the “No License” status, indicating that it is not subject to any valid regulations.

Q4: Are there any fees for deposits and withdrawals with Fin Exchange?

A4: Fin Exchange applies handling fees for deposits and withdrawals, although the specific amounts or percentages are not disclosed. Traders should contact customer support or refer to the broker's policies for more information on these fees.

Q5: What are the available customer support channels at Fin Exchange?

A5: Fin Exchange offers multiple customer support channels, including telephone: +441618181500, email support: support@fin-exchnge.com.

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德居地产小蔡
more than one year
Poor system implementation stopped my stop loss and blew up my account. No one could give me any assistance, and I’ve decided to write this review to warn more people. Don't trade with this broker.
2023-03-03 11:28
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