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Financika’s limited market is a Forex broker that is owned by a company known as sharp trading limited. This company is based in Vanuatu and is one of the limited companies that are registered with the local Financial Services Commission to trade money, however, this company is a scam broker and traders can be easily be scammed when they trade their funds in this platform.
In the republic of Vanuatu where this financial trading company is situated is not necessary that all the trading companies that have been registered are scammers. But from various reviews which have been done has registered cases of scam and fraud of companies in this country as some companies have even demanded high initial capital demand as well as unfavorable conditions to traders when they join those companies.
Advantages of Financika limited
- Financika limited is a regulated company hence trading in this platform is better compared to other trading companies that are not regulated which can exploit the traders and has high risk of being scammed.
- Financika limited has a favorable minimum requirement for trading money which has made the trading company to earn trust for losing its oversight to the forex brokers and besides due to the minimum capital requirement set by the local Financial Services Commission the company enables many people to trade their money in this platform.
- Trading in Financika has acceptable levels where traders can invest according to their wish or ability.
Disadvantages of Financika trading limited
- Traders who trade their money in this platform are kept on a solation condition which prevents the brokers from withdrawing all their money from their account. Hence the platform has a simulated trading environment.
- In Financika trading limited in case the company goes bankrupt the trader’s funds are under the risk of scam. Besides trading here despite regulation, the trader funds are not safe. In Financika limited the average spread starts from 3.0pips on US dollar or Euro which is higher than on average as most of the traders prefer 1.0-1.5 pips which is the most liquid currency pair.
Is Financika scam or not?
Financika is a regulated trading company in Vanuatu where besides regulations the company trading funds are not safe. Due to this conditions that are imposed on the trader, cases of scam can arise therefore trading money in this platform trader can get scammed due to the unusual rules of the company.
In conclusion Financika can be a scam being an unregulated company and there scam-related issues have been reviewed. Trading in financika limited is risky and traders can easily lose their funds when they trade in this company. Hence to avoid regrets and cases of fraud, traders should be advised to stop trading with this broker if they want to be safe.