Fintec Global Markets Review
Introduction to Fintec Global Markets
Fintec Global Markets is a forex broker based in Nigeria. The company advertises a variety of different features, such as trading platforms, trading account options, such as leverage and deposit requirements and MAM and PAMM services. During our research, we found two different websites operating under the brand Fintec Global Markets. Due to certain similarities, such as contact information, we concluded that they represent the same business.
Avoid Fintec Global Markets
This broker presents too many red flags. Check these other cTrader brokers who are well known, regulated and have a proven track record lasting years.
Fintec Global Markets Websites
One of the websites is called fintectraders.com, and the other is fgmtrade.com. The former is the domain associated with the brokers cTrader Web platform hosting.
There could be a valid reason why two websites are currently available. The company could be migrating from one site to another, having secured a better, shorter domain name and actively making improvements. This excuse makes some sense because one of the websites advertises just cTrader and the other website promotes just MT5. Neither of the websites mentions how to download MT4, despite the company also having this trading platform as well. Because of the inconsistencies, they could be actively switching sites and not following standard best practices.
Imitation of GTForex License
On the website of fintectraders.com, we found a reference to a license “Regulated By FSA Licence No. 50/LLC/2015”. We spotted that this license information is used on another website of a forex broker called GT Forex. It then became apparent that the fintectraders.com website is a complete clone of gtforex.co.uk website. Moreover, GTForex is apparently registered in St. Vincent and the Grenadines, which is a jurisdiction where forex is not formally regulated, so there is no such license. I.e. they copied the details of a bogus license; therefore, we are not dealing with smart individuals here.
Looking closer, it became apparent that the entire GTForex website had been copied by fintectraders.com, almost word for word.
When reviewing what we presume is the newer site for Fintec Global Markets, much of that plagiarised content is still present, for example in the FAQ section. The theme of the website is at least different, and unlike the former site, there is a client zone where traders can presumably sing up. It appears as though these websites are either a work in progress or an abandoned project. Many internal links don’t exist, and buttons seem to point to pages that don’t correlate.
Fintec Global Markets Social Media Activity
This forex broker has Facebook, Twitter and Instagram profiles. All of these profiles seem to be completely abandoned. The most recent activity was on Twitter in September 2019. The last post on Facebook was in March 2019. If the company doesn’t prioritize its appearance on its websites or social media, what is the purpose of these resources for and how does this company acquire its clients?
Conclusion of Fintec Global Markets Review
From our perspective at least, these anomalies show a significant amount of unprofessionalism. Running a forex brokerage requires experience and integrity. A website is the primary contact point between trader and broker, and with so many irregularities, it makes you wonder if your money can be trusted with this company. We will keep an eye on the developments of the website to see if our interpretation is just a misunderstanding.
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