Financika Review

Financika Trade Review

Financika (also know as Financika Trade) is a Forex broker that is owned by Sharp Trading Ltd, which is located in the Republic of Vanuatu. Their payment processor is Cubbon Services Limited, located at: Griva Digeni, 115 Tridnet Center, Limassol, 3101 Cyprus.

Their listed phone number is in South Africa: +27 21 200 4239, and email contact is: customer.service@financika.com.

New Investors? Speak with a friendly broker at CM Trading

CM Trading is a Broker Licensed by FSB

Financika Review

The trading software that Financika Trade gives their clients is called Profit or Web Profit. It is a customized easy to you trading software made for beginners who are not experiences with the advanced trading software like MetaTrader 5 that other brokers use. They offer a variety of assets to trading including; Forex pairs, Market Indexes, CFD trading on Stocks and Commodities.

Spreads on Forex pairs vary depending on the actual pair, and leverage in Forex trading is as high as 200:1. Leverage for CFD trading is 10:1 on stocks and 100:1 on market indices. Investors should familiarize themselves with the risk associated with trading CFD & Forex on margin. The minimum deposit for new accounts is $200.

Financika Trading Broker

While reading the terms and conditions page we saw that the trading volume required for withdrawal of bonus money is 5000 times the net deposit amount. Basically they are saying, don’t accept any bonus money. The also mention that client orders are executed via Naxex Belize Ltd. In section 2.14, it says that complaints are handled by Cubbon Services, and traders should email Customer.Service@bforex.com.

Managed Accounts Trading

When we signed up for an account at Financika, it says Open a Managed Forex Account. We are very skeptical with using any managed account at any broker.

We have seem way too many complaints from traders who have used rogue brokers, and have lost their money because of it.

No Brokers License

Investors when reviewing a new Forex broker will always first check to see if the broker has a license and if they are regulated.

Financika is not a licensed broker.

There are many licensed Forex brokers you can trade with, see here. The reason investors will use a licensed broker, is so that in case the broker goes out of business, their money is protected. In the United Kingdom, brokers are licensed and regulated by the FCA. In Europe Cyprus CySEC is the government regulator of many brokers.

Compare Financika

Smart investors will always read about various CFD Forex brokers, before making a final decision.

CM Trading is a broker licensed by the FSP in South Africa, and they offer the Sirix trading platform. Learn more at: http://www.cmtrading.com.

Plus500 is the most popular broker that is licensed by ASIC & FSB. Their minimum deposit is only $100, go visit: Plus500.com.

Best Online Brokers

What was your experience trading with Financika?

Please write your review in the comment section below.

Financika Review

Financika Trade Review

Financika (also know as Financika Trade) is a Forex broker that is owned by Sharp Trading Ltd, which is located in the Republic of Vanuatu. Their payment processor is Cubbon Services Limited, located at: Griva Digeni, 115 Tridnet Center, Limassol, 3101 Cyprus.

Their listed phone number is in South Africa: +27 21 200 4239, and email contact is: customer.service@financika.com.

New Investors? Speak with a friendly broker at CM Trading

CM Trading is a Broker Licensed by FSB

Financika Review

The trading software that Financika Trade gives their clients is called Profit or Web Profit. It is a customized easy to you trading software made for beginners who are not experiences with the advanced trading software like MetaTrader 5 that other brokers use. They offer a variety of assets to trading including; Forex pairs, Market Indexes, CFD trading on Stocks and Commodities.

Spreads on Forex pairs vary depending on the actual pair, and leverage in Forex trading is as high as 200:1. Leverage for CFD trading is 10:1 on stocks and 100:1 on market indices. Investors should familiarize themselves with the risk associated with trading CFD & Forex on margin. The minimum deposit for new accounts is $200.

Financika Trading Broker

While reading the terms and conditions page we saw that the trading volume required for withdrawal of bonus money is 5000 times the net deposit amount. Basically they are saying, don’t accept any bonus money. The also mention that client orders are executed via Naxex Belize Ltd. In section 2.14, it says that complaints are handled by Cubbon Services, and traders should email Customer.Service@bforex.com.

Managed Accounts Trading

When we signed up for an account at Financika, it says Open a Managed Forex Account. We are very skeptical with using any managed account at any broker.

We have seem way too many complaints from traders who have used rogue brokers, and have lost their money because of it.

No Brokers License

Investors when reviewing a new Forex broker will always first check to see if the broker has a license and if they are regulated.

Financika is not a licensed broker.

There are many licensed Forex brokers you can trade with, see here. The reason investors will use a licensed broker, is so that in case the broker goes out of business, their money is protected. In the United Kingdom, brokers are licensed and regulated by the FCA. In Europe Cyprus CySEC is the government regulator of many brokers.

Compare Financika

Smart investors will always read about various CFD Forex brokers, before making a final decision.

CM Trading is a broker licensed by the FSP in South Africa, and they offer the Sirix trading platform. Learn more at: http://www.cmtrading.com.

Plus500 is the most popular broker that is licensed by ASIC & FSB. Their minimum deposit is only $100, go visit: Plus500.com.

Best Online Brokers

What was your experience trading with Financika?

Please write your review in the comment section below.

Reviewed by Scam Broker Reviews
  • Ceasar Mukama

    am curious too – been tolerating this aggressive but nice sales lady in my ear for month now. Do you recommend FINANCIKA?

  • sMlaba

    I lost all my R6000 that i deposited. what is surprising is that these Financika people are able to change your choice to lead your trading outcome to a huge loss.i believe this is benefiting them somehow. i dont advice any investor to trade with Financika. Thew want many documents when you want to make withdrawal. Financika must go to hell

    • zano

      you are right dear theyve scammed a lot of people in south africa. financial services board has issued a warning against them. people must check with Financial serviced board first before they anything

  • sMlaba

    never Trade with Financika if you love your money

  • zano

    do not trade