Finestro Review (finestro.org Scam) – Forex Broker Reviews, Trading Platform Reviews

Finestro Review: Is This Forex Broker a Scam or a Legitimate Trading Platform?

In the vast and complex world of forex trading, it’s not uncommon for traders to come across questionable brokers that may not have their best interests at heart. One such broker that has raised eyebrows is Finestro, which has been operating under the domain finestro.org. With many traders already skeptical about its legitimacy, it’s essential to conduct a thorough review of this broker to determine whether it’s a scam or a reputable trading platform.

Overview of Finestro

Finestro is a relatively new player in the forex market, claiming to offer a range of assets, including forex, commodities, and indices. The company is registered under the jurisdiction of St. Vincent and the Grenadines, a country notorious for its lenient regulatory environment, which has led to a significant number of unscrupulous brokers operating in the region. This poses significant concerns about the platform’s legitimacy and safety for traders.

Trading Platform and Features

Finestro provides a web-based trading platform that is ridiculously basic, lacking the sophistication and features that many traders have come to expect from modern trading platforms. The platform is slow, and navigation can be cumbersome, making it difficult for traders to access important information and make informed decisions. Moreover, the platform is prone to glitches, which can result in lost trades and significant losses.

Account Types and Minimum Deposit

Finestro offers only two account types: a standard account and a premium account. The minimum deposit required for the standard account is a mere $250, while the premium account requires a deposit of $5,000. This is a relatively low minimum deposit, which may attract novice traders, but it’s important to remember that low minimum deposits often come with hidden fees and stricter trading conditions.

Commissions and Fees

Finestro charges a range of commissions and fees, including a $10 commission on every trade, a $10 inactivity fee, and a 0.5% withdrawal fee. These fees can quickly erode the trader’s profit, making it challenging to achieve consistent returns.

Payment Options and Withdrawals

Finestro accepts several payment options, including debit cards, credit cards, and wire transfers. However, the platform is notorious for its slow payment processing and withdrawal times, which can take up to 10 business days. This can lead to significant delays for traders trying to access their funds.

Conclusion

Based on our thorough review of Finestro, it’s clear that the platform is r