Finco Trades claims to be a regulated forex and CFD broker operating under authorities like CySEC, BaFin, CONSOB, and MFSA. Yet investigations prove it is entirely unlicensed—indeed, identified by authorities as a clone of a legitimately registered firm. Here’s an in-depth look at why you should never trust FincoTrades.ltd.

⚠️ 1. MFSA Warns: Finco Trades Is a Clone Scam

On December 9, 2024, the Malta Financial Services Authority (MFSA) issued an explicit warning: FincoTrades.ltd is a clone using the identity of Finco Trust Services Limited, an authorised Maltese entity. The clone site is not registered and not authorised with the MFSA. Users are strongly cautioned to avoid all dealings with the fake platform. This is a legally issued warning—no guesswork required.Reddit+12MFSA+12scamsreport.net+12scamsreport.net+1BrokersView+1

🕵️ 2. Regulatory Claims with No Verification

Finco Trades asserts it’s regulated by CySEC, BaFin, and CONSOB—but none of these regulators list the company. Scams Report and BrokersView confirm those claims are fabricated or unverifiable. Despite its website citing multiple geographic licenses, there is no record in any official financial register of such licensing.scamsreport.net+1BrokersView+1

🧾 3. Identified as a Scam by Multiple Watchdogs

• Scams Report calls its claims “far from straightforward,” noting no evidence of regulation and contradictory licensing narratives. scamsreport.net

• BrokersView explicitly labels Finco Trades as a SCAM based on clone identity and unverifiable licensure.Reddit+14BrokersView+14Cyprus Forex Trading+14

• WikiFX rates it zero out of ten, citing no valid regulation and high potential risk.BrokersView+4WikiFX+4FraudReviewWatch+4

⌛ 4. Brand-New Domain & Anonymous Ownership

The domain was registered on October 15, 2024, with WHOIS details masked—a major red flag for a financial platform. Legitimate brokers typically have years of operation and verified records; Finco Trades was created only recently and hides all ownership information. scamsreport.netCyprus Forex Trading

🚫 5. Alleged Associated Brand Also Loses Funds

An affiliated brand, FINCO Trust, was targeted in Malta where users were blocked from withdrawing fixed-term investment funds. Reddit users describe stonewalling by FINCO Trust—they kept changing terms and refusing to finalize closures. Music to predatory broker behavior. BrokersView+15Reddit+15scamsreport.net+15

🧩 6. Typical Scam Mechanics and Client Complaints

Although specific withdrawal complaints to FincoTrades.ltd are limited, the broader narrative fits known fraud patterns:

1. Unauthorised entity claims outrageous returns under false regulation.

2. Users deposit funds. Small initial wins may show in a fake dashboard.

3. When users request withdrawal, excuses, new document demands, or outright blocking appear.

4. Support becomes unresponsive; site eventually disappears or changes domain.

These behaviors are consistent with user testimonies and documented clone‑broker strategies.BrokersView+5FraudReviewWatch+5AlertTrade.net+5MFSA+1scamsreport.net+1RedditCyprus Forex Trading+1Reddit+1BrokersView

📉 7. Compensation and Chargeback Limits → Loss

Because Finco Trades is unregulated, most consumers can’t file complaints with any oversight body. Financial service complaints often rely on regulator-backed dispute resolution—none apply here. Chargeback windows close quickly. That means once money is sent, there is virtually no recourse.

📢 8. Community Insights Warn Loudly

In forums like Reddit, users condemn brokers promising extreme ROI, often delivered via messaging or cold outreach:

“Turn $100 into $1500+ per week… in a week? It is unsustainable… It is not.”
FraudReviewWatchReddit

“Unregulated brokers are more likely to manipulate markets, refuse payments or freeze client funds.”
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These community norms echo exactly the risk profile presented by Finco Trades.

📋 9. Summary Table of Key Risks

🏁 Final Takeaway: Steer Clear of Finco Trades

FincoTrades.ltd is a high-risk, unregulated clone broker that carries all the red flags of a scam. It boasts fake regulatory claims, operates under masked identity, and has triggered an official warning from MFSA. Users risk depositing funds with no legal protections, no recourse, and likely no withdrawal access.

If you come across this platform—or receive outreach via ads or messaging—do not engage. Do not sign up, deposit funds, or share any personal or financial documents.

🔐 Protect Yourself: Key Safeguards

• Always verify licensing via official regulator websites (FCA, CySEC, ASIC, MFSA).

• Avoid platforms launched recently with masked proprietary ownership.

• Do not trust sites that claim to be multi-regulated but show no proof.

• Start with a small deposit and perform a withdrawal test early.

• Stay informed: trusted communities and forums hold conversations about scams—research before investing.

1. Report Finco Trades and Recover Your Funds

   If you have lost money to Finco Trades, it’s important to take action immediately. Report the scam to BRIDGERECLAIM.COM , a trusted platform that assists victims in recovering their stolen funds. The sooner you act, the better your chances of reclaiming your money and holding these fraudsters accountable.

   Scam brokers like Finco Trades continue to target unsuspecting investors. Stay informed, avoid unregulated platforms, and report scams to protect yourself and others from financial fraud.