Finowiz Review: What Traders Need to Know

However, we decided to look beyond this glossy self-presentation and discovered that most of these features belong firmly in the realm of advertising. Clients are lured into trading under conditions of excessive leverage and inflated commissions. The company offers no proof of regulatory oversight or legal registration. User reviews paint a uniformly negative picture. Much of the published statistical data appears to be fabricated. Against this background, we wonder: should Finowiz be regarded as a scam?

Finowiz Snapshot

Legitimacy Check

The question of Finowiz’s legitimacy remains as relevant as ever. The administration openly ignores the unlawful nature of its activity, while the official website makes no mention of regulation by any recognised supervisory authority. We decided to look more closely at the project’s defining features: its legal registration, the declared head office address, the associated risks of partnership, and the problem of its short time on the market.

While the intermediary’s official website lists its registration as an offshore company in St. Lucia, this status should not be mistaken for a licence. The simple fact of offshore registration doesn’t confirm the broker’s trustworthiness or indicate it is a verified entity. Moreover, the local regulator FSRA does not control forex brokers, so registration should be considered just a piece of paper.

We carried out an additional check via the OpenCorporates database. The results revealed several similarly named firms, all of which were listed under the status “inactive”. This discovery represents yet another red flag and, in our view, confirms the concerns surrounding the project.

The next issue relates to the company’s declared headquarters. On its “About” page, Finowiz provides an address purportedly linked to its office. However, this claim is easily disproved: a simple search through Google Maps demonstrates that no such dealing centre exists in Dubai.

A further warning sign lies in the company’s operational history. A WHOIS domain check reveals that Finowiz has been active only since the first half of 2025. This short lifespan is compounded by the fact that the project has little to no public recognition, and the level of trust it commands is equally minimal.

Finowizprime.com Content Quality

The official website of Finowiz is available in English and is filled with banners that carry various types of promotional content. The information published on the homepage is largely advertising material and does not reflect the real terms of the partnership. We decided to examine the key shortcomings of this portal, along with the registration process, the functionality of the personal account, and the digital documents and software provided for trading.

The first drawback is the limited informational value of the homepage. The content appears manipulative and clearly targeted at inexperienced newcomers. A further problem is the platform’s poor treatment of confidentiality. Registering on the finowizprime.com website, attempting to verify an account, or carrying out transactions such as deposits and withdrawals is far from safe. Optimisation is mediocre, which manifests in long loading times for individual pages.

So, registration is carried out through several identical buttons on the homepage. When opening an account, users are asked to provide basic personal information: email, password, first name, surname, phone number, and country of residence. A separate field allows the entry of a referral code. Links to digital documents, including the client agreement and privacy policy, are also provided. Once the email address is confirmed, access to the personal dashboard is granted.

Upon logging in, the system encourages clients to open a trading account and immediately prompts them to undergo verification. The main dashboard contains sections on account balance, bonus offers, transaction tools for deposits and withdrawals, and details of the partnership programme. Training materials are also advertised, but we note the lack of any quick or direct link to customer support.

Important: the official website hosts links to AML and KYC policies. On the surface, this is a positive sign, but it does not guarantee the safety or confidentiality of personal data once the partnership begins.

Key Trading Features

Finowiz offers several types of trading accounts that vary according to the initial deposit and additional services. New users may choose between Micro, Standard, and ECN accounts. We decided to look more closely at the key conditions of partnership: the instruments available, deposit thresholds, leverage, spreads, commissions, and the range of additional services.

The platform promotes trading in currency pairs, cryptocurrencies, commodities, and indices. Well, there is no clarity regarding the exact number of assets. More concerning is the admission that contracts for difference (CFDs) are used. We wonder whether this is a deliberate tactic, for it is well established that retail trading in CFDs usually results in losses.

The minimum deposit is set at $100. Even this modest sum poses a risk, since most retail clients lose their funds when engaging with offshore brokers. Access to a so-called “premium” account requires around $2,500. This raises questions about the company’s policies on deposit thresholds.

Trading commissions range between 0% and 4%. In practice, these terms may shift unpredictably, given the firm’s questionable reputation. Details about the spreads remain undisclosed — another red flag. Claims of instant order execution are similarly misleading; delays in practice are noticeable.

Among its so-called “value-added” services, Finowiz promotes negative balance protection, hedging strategies, and aggressive bonus schemes. For instance, clients are promised a 100% top-up on deposits immediately after registration. A referral programme offers up to 15% commissions on recruited users. PAMM accounts and copy-trading are also advertised. Yet these offerings appear more like marketing hooks than real benefits.

In summary, the partnership with Finowiz is marked by unfavourable conditions: dangerously high leverage, concealed spreads, and inflated commissions.

Finowiz Education Insight

The broker promotes access to themed webinars and video tutorials, along with a section of frequently asked questions. In reality, these resources are of little use. Clients are limited to a superficial FAQ section, which hardly qualifies as meaningful education. Moreover, some information in the FAQ contradicts other sections of the site — for example, the minimum deposit stated here is $50. This adds another layer of mistrust to such an unprofessional platform.

Customer Service Overview

Customer service is conducted exclusively via phone and email. Testing with a validator suggests that the address is functional, but this does not ensure confidentiality. Notably, Finowiz has no presence on social networks or messaging platforms. We wonder whether such silence reflects a deliberate avoidance of scrutiny. In any case, the firm’s visibility within the wider trading community is negligible.

Our Verdict

We advise readers to avoid cooperation with Finowiz. The project operates without regulation or legal registration. Its trading conditions are unfavourable, and the much-advertised educational resources are of little practical use. In sum, the platform bears all the hallmarks of a high-risk, potentially fraudulent operation.

About the author

Hamish Drake

Trading Educator

Hamish Drake is an experienced trading educator and content creator. He has developed several online courses and written numerous articles on trading basics, risk management, and market fundamentals. Hamish focuses on identifying brokers that offer the necessary educational resources, ensuring customers have the tools they need to start and improve their trading journey.