Fundiza.com is nothing more than a carefully packaged, well presented offshore broker website. This one is quite difficult to believe considering how well detailed they are and the amount of work put in their website. However, before making any move with Fundiza brokers, we urge you to read this review about them.
Forex trading is one of the businesses of the 21st century. Sadly, this ever-growing online market is heavily plagued by scammers. Due to this, it has become our job to review various websites that claim to be forex brokers, then help you tell which is real or not. The following review will tell you all you need to know about Fundiza Brokers.
About Fundiza Brokers
Fundiza.com is a brokerage company located in St. Vincent and the Grenadines. They trade in commodities, indices and shares and claim to offer some of the best trading conditions there are. Fundiza brokers claim to offer On-The-Go trading using mobile apps with their MetaTrader 5 trading platform.
Fundiza offers clients a whooping 1:400 leverage and secure transactions via Visa, MasterCard, Skrill and Neteller. But is any of this true, or just too good to be so?
Why You Should Be Wary of fundiza.com
At first glance, Fundiza brokers look completely harmless. After a deep look at betaltrade.com however, here is why we think otherwise.
Fundiza Brokers Withdrawal and Deposit Policy
Fundiza brokers have two controversial minimum deposit amounts on the website. Before we point this out as a red flag, the terms and conditons say $100 (which is perfectly normal), while the Account page states a ridiculous $5000 minimum deposit. The contradicting prices and the $5000 minimum deposit are both strong red flags.
Some of the other terms provided by the website seem to us like fundiza.com are trying their best to scam their customers while silencing them. Over and over, in different words, they state that they WILL NOT take responsibility for any loss of funds, and that the risk is all on the trader.
Another of those gives the broker permission to close the account after 30 days of inactivity (whereas legit brokers would simply charge a dormancy fee).
The worst of it all comes as seen above, where the broker prevents any client from making a public statement of any compliment for a period of 30 days. The penalty for breaching this rule is a fine of $100 per day starting the day the complaint was made public. The flags have never been redder!!!
Fundiza Trading Platform
The trading platform offered by fundiza.com is the MetaTrader 5. This is delightful, and obviously one positive thing about the website. We usually advise readers to trade with brokers who use the MetaTrader 4 or MetaTrader 5. The MetaTrader 5, also known as MT5, is arguably the best trading platform on the forex market currently.
Something that does tick us off a bit is a section of the terms and conditions that basically disallows the use of Expert advisors on the trading platform. See below;
Expert advisors are automatic trading aids that help improve a trader’s chances possible profit. They are also constantly used with the MT4 or MT5. However, if the website outlaws expert advisors, we can’t help but doubt the honesty of their MT5 claim.
Fundiza Licensing and Regulation
As earlier stated, Fundiza brokers is a company located in St. Vincent and the Grenadines. St. Vincent and the Grenadines (SVG) is a very popular forex offshore zone. This is because the SVGFSA does not regulate forex brokers, hence making the location a breeding ground for illegal brokers.
That Fundiza brokers is located in SVG, is alone enough to deduce the fact that they are NOT REGULATED as forex brokers. Consequently, this means they are illegal and should not exist as brokers.
Fundiza Brokers Review Conclusion: Is fundiza.com a Scam?
Yes. Fundiza.com is a confirmed scam. They are not licensed to operate as a broker by any agency. We cannot recommend them to you, and we advise you deal with a transparent broker who’s licensed by a reputable agency such as the FCA or CySEC.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!