The Austrian Financial Market Authority (FMA) has issued an investor warning against the scam broker Finexics (www.finexics.io). Slinqo Group Ltd in Cyprus allegedly operates this. We haven’t found the company, though. The scam’s website is available in English, German, Italian and Spanish. On the German version, Finexics claims to be the world’s largest provider of Forex CFDs. Currently, it is no longer possible to register on the website. The scam should have vanished soon.
The FMA issued a total of 98 investor warnings in 2019, which is a record. In the current year 2020, the regulator has issued 84 notifications so far. These numbers are staggeringly low. Other supervisors in the EU, such as the UK FCA, Italy’s CONSOB, or Spain’s CNMV, issue between 80 to 120 warnings in an average month. This rather reflects the sad reality of cybercrime and scams. And Austria, for sure, is not an isolated island not attacked by scammers.
