The MFSA issues a warning against fincotrades.ltd On December 9, 2024, the Malta Financial Services Authority (MFSA) issued a warning against fincotrades.ltd, identifying this company as a clone of an MFSA-authorized firm. https://www.mfsa.mt/news-item/mfsa-warning-finco-trades-clone/

BrokersView has reviewed that fincotrades.ltd is an unregulated broker According to its website, it claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), and Italian Companies and Exchange Commission (CONSOB). However, no matching information was found in these institutions. In addition, it also mentioned Malta regulation, but it mentioned that Finco Trust was regulated by Malta, but there is no evidence that it has any relationship with Finco Trust. What's even more ridiculous is that the Malta Financial Services Authority (MFSA) issued a warning against fincotrades.ltd, identifying this company as a clone of an MFSA-authorized firm. In essence, fincotrades.ltd is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as no legal protections are in place to safeguard the funds. fincotrades.ltd appears to be a scam.

BrokersView has identified that Clone Finco Trades's website is currently offline BrokersView found that the domain "https://fincotrades.ltd/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

Is fincotrades.ltd an investment scam? Dear Investor, We have marked the site fincotrades.ltd as a case of identity theft and thus consider it a scam. We strongly suggest you avoid using it. This website falsely claims to be multi-regulated. The Malta Financial Services Authority (MFSA) has issued a warning, highlighting that fincotrades.ltd misuses the information of a company licensed by them, Finco Trust Services Limited. In fact, Finco Trust Services Limited bears no responsibility for the site fincotrades.ltd. This is a scam. Therefore, we strongly advise against trading with fincotrades.ltd. For a safer trading environment and peace of mind, choose major brokers regulated by top-tier financial regulators. View Source