Finpari Review (2023)
- Company name:
Finance Group Corp. Lerona Impex S.A. Finpari. Finrally.
- Registration Address/ License:
Seychelles. Offshore License, No Regulation.
About Finpari
| 🗺️ Registered in | Seychelles |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Finpari safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Finpari trading brand is operated by the Finance Group Corp that offers vast of Forex and CFDs trading opportunities. The company claims their numerous awards within the industry, as well as the regulated environment and opportunity to copy trades or engage in contests.
However, this is all what available on the official website, there is no mentioning about an address, location, any regulation or even phone number. Actually, that means the company is located in an offshore zone, while attracting worldwide clients just by the competitive proposals with no any confirmation of its legal status to offer anything. Our concerns were confirmed during research, as the broker appeared to be a Seychelles based firm under the name Lerona Imprex S.A., as well which operated another brand Finrally.
Besides the attractive proposal, the real facts show another side of the company operation. The traders faced issues with money withdrawals, funds were locked within the account due to some strange terms and conditions, as well as the manipulations on the process. These issues are quite typical for those brokers who pretend to be regulated and fully legitimate but in fact are offshore or unregulated brokers. Their operation simply not overseen by anyone, thus the firm can do whatever they wish.
Apart from the guilty verdicts against Finpari, while the traders’ complaints confirmed established fraud operation and trading environment, the broker also appeared in alert lists of regulatory authorities. This includes a list on non-authorized or registered domains list by CySEC (Check the CySEC regulated brokers list), Cyprus (check list here).
Conclusion
Therefore, we recommend caution dealing with a non-regulated and offshore broker in order not to fall into the frauds. It is much better to choose among the recommended FCA Regulated brokers or similar regulated entities that were confirmed by the legal authority in terms of their sustainability and performance.