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Fundiza Broker Review

The broker by the same name, Fundiza, is run by Fundiza Ltd. For traders’ convenience, the broker offers both CFDs and forex. St. Vincent and the Grenadines is where they are based. 

Unregulated brokers frequently choose for the well-known offshore hideaway. There are no effective financial controls, so the brokers are effectively free to act anyway they like.

Broker status: Offshore Broker
Regulated by: No regulation
Scammers Websites: https://fundiza.com/
Blacklisted as a Scam by: FCA
Owned by: Fundiza Ltd
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: 2020
Supported Platforms: web trader
Minimum Deposit: $5,000
Cryptocurrencies: No
Types of Assets: Forex, commodities, indices, shares
Maximum Leverage: 1:400
Free Demo Account: No
Accepts US clients: No

Former Clients Criticize Fundiza in Public

It’s typical for former customers to critique brokers they’ve traded with online. Online reviews for Fundiza are all quite unfavorable. The broker’s signals and advise are of poor quality, according to traders. Despite their claims to provide premium signals, traders think their selection is subpar.

FCA Joins the Criticism of Fundiza

Financial regulators are largely hostile toward the broker, who are also referred to by former clients as the Fundiza fraud. 

According to a statement released in September 2020 by the UK’s FCA, the broker has been providing services there without the necessary or any authorisation. These cautions make it clear that traders ought to avoid Fundiza.

Unreasonable minimum deposit

The minimum deposit requirement for Fundiza is unquestionably alarming. The broker has the audacity to establish a $5000 minimum. This costs twenty times the typical $250. Anyone who gives the broker a chance could lose a lot of money. Numerous dealers’ dissatisfaction with their premium offerings is already evident. 

The broker does have access to more than 500 assets. They offer hundreds of CFDs on stocks, commodities, and other assets, along with more than 50 forex pairs.

Authentically Obscene Client Conditions

A few of Fundiza’s terms and conditions go above and beyond what any dealer would accept. The broker retains the ability to impose a withdrawal cap on a particular account. In essence, the broker has the discretion to block withdrawals. Inactivity fees are another thing that gradually deplete accounts. 

The most notable provision is the prohibition on traders speaking negatively of the broker in public and the threat of a $100 reputational damage cost.

Problems with money withdrawals

We were astounded after having the opportunity to read more details in investor assessments of Fundiza. The broker requests an absurd $5,000 deposit from clients (no, this is not a mistype). You receive a proprietary web trader in return, excessive leverage, and no information about costs and commissions.

Many clients claim that this broker follows the same pattern of demanding money up until you request a withdrawal. Your account will be stopped as soon as you do it, and you won’t ever see your money again.

Avoid being duped by the Fundiza scam.

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