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Swiss Financial Market Supervisory Authority has issued a warning against Fidency.net in August 2023
If you are looking for a reliable and trustworthy online broker, you might have come across Fidency.net. This is a relatively new platform that claims to offer a wide range of trading instruments, competitive fees, advanced technology, and excellent customer support. But are they really legit? Or are they just another scam that will rip you off your hard-earned money? In this review, we will take a closer look at Fidency.net and see if they live up to their promises.
What is Fidency.net?
Fidency.net is an online broker that was launched in 2020. They are based in St. Vincent and the Grenadines, and they are regulated by the Financial Services Authority (FSA) of the country. They offer access to over 250 trading assets, including forex, stocks, indices, commodities, cryptocurrencies, and ETFs. They also provide various trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and mobile apps. They claim to have a high level of security, transparency, and customer satisfaction.
What are the pros and cons of Fidency.net?
- Low minimum deposit of $250
- Multiple account types with different features and benefits
- Competitive spreads and commissions
- No hidden fees or charges
- Fast execution and low latency
- Access to various trading tools and educational resources
- Responsive and helpful customer support via phone, email, and live chat
- Multiple payment methods, including credit cards, e-wallets, and cryptocurrencies
- Limited regulation by a non-reputable jurisdiction
- Lack of negative balance protection and investor compensation scheme
- No demo account available
- High withdrawal fees and processing time
- Some negative reviews and complaints from customers online
Is Fidency.net legit or a scam?
Based on our research and analysis, we cannot say for sure that Fidency.net is a scam. However, we also cannot recommend them as a legit broker. There are some red flags that raise our concerns about their credibility and reliability. For instance, their regulation by the FSA of St. Vincent and the Grenadines is not very reassuring, as this is a known offshore destination for many shady brokers. Moreover, their website does not provide much information about their company background, ownership, or legal documents. They also do not offer any protection for their clients’ funds or accounts in case of insolvency or fraud.
Therefore, we advise you to be cautious when dealing with Fidency.net. If you decide to trade with them, make sure you do your own due diligence and verify their claims. You should also only invest what you can afford to lose, as online trading involves high risks. Alternatively, you can look for other more reputable and regulated brokers that have a proven track record of providing quality services and products to their customers.
What to Do If You’ve Lost Money with Fidency.net?
If you have been scammed by Fidency.net or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.