Review of work and offers of Finance Advice Group, reviews of traders

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Today, there are a lot of scammers in the financial markets who use the most sophisticated deception schemes. In this article, we will look at the activities of the broker Finance Advice Group, which, without a twinge of conscience, deceives users, promising them “mountains of gold”, and then simply draining deposits. According to what scheme does Finance Advice Group work, and why does cooperation with this company always end in a complete fiasco? More about everything in our review.

What is known about “Finance Advice Group”?

Finance Advice Group calls itself a cutting-edge online broker that offers huge opportunities for traders:

• effective money management strategies;
• low spreads;
• instant execution of orders;
• the presence of unique robotic systems that carry out trade transactions in the currency, commodity, stock markets.

Finance Advice Group also guarantees:

• negative balance protection;
• a high level of security, as evidenced by the presence of a certificate issued by the international regulator Financial Conduct Authority.

First, let's deal with the FCA license. First, we checked this information on the official website of the regulator fca.org.uk. A certain company, Finance Advice Group Ltd, consonant with the name, indeed has a license, but it has nothing to do with the broker Finance Advice Group. 

Secondly, Finance Advice Group is allegedly an Estonian company, so if it had a license, it would only be issued by the Estonian Financial Supervision Authority, but not by the British regulator, as indicated on the website. We immediately checked to see if there was any connection between Finance Advice Group and EFSA. There is no information about this broker on the website www.fi.ee. 

Also alarming is the Finance Advice Group's claim that it has been operating since 2008.

Using the whois.ru service, we found out that the fnagcorp.net domain was registered at the end of 2012 (but not at all in 2008!), but re-registered in January 2021. In addition, we did not find any reviews written before 2021 on the Web. This gives us every reason to believe that this “kitchen” started working a few months ago. 

It is impossible not to pay attention to the addresses indicated in the footer of the site. Breeders note that their sharaga is registered in Estonia. 

To check whether this is actually the case, we used the official website of Legal Entities Reference Service LLC. Here you can find information about any company registered in Estonia. It turned out that Finance Advice Group is not among Estonian organizations.

Separately, we checked the address of this sharashka: Tornimae 5, Tallinn, 10145, Estonia. It turned out that there is a coworking center on it, which is located in one of the skyscrapers of Tallinn. That is, there can be no question of any legally registered address. The maximum that is available here is a temporary rental of a workplace. 

Internal documentation also deserves attention, although it has no legal force. We carefully read everything and found a few interesting points in the “User Agreement”. For example, in paragraph 13.2, scammers openly state that they do not bear any responsibility for any losses of the client.

Also, the office "Finance Advice Group" can do whatever it wants without notifying customers about it (clause 14.2). This is a direct sign of a scam! 

Finance Advice Group Key Offerings: Overview of Trading Conditions

Considering that users in reviews always discuss exactly the trading conditions of brokerage companies, Finance Advice Group decided to use them as bait. She offers clients:

• leverage up to 1:1000;
• educational content;
• consultations of personal managers;
• 6 types of accounts. 

Also, traders allegedly have access to trading signals, analytical tools, and calculators.

But, judging by the reviews of deceived users, this is just an advertisement, nothing more.

Reviews of real clients of “Finance Advice Group”

Considering that this sharashka has been working for only a couple of months, there are very few reviews about it. Users who have become victims of charlatans urge to bypass this garbage dump: 

Revealing the Divorce Plan

Finance Advice Group "trades" according to the classical scheme. First, these crooks promise traders unprecedented earnings, unique services and motivate the latter to deposit money into the account. After that, they impudently rob them, draining the deposit and blocking the account. 

Summing up the review

It is quite obvious that “Finance Advice Group” is a classic “kitchen”, whose activity is aimed only at robbing as many naive traders as possible. And the reviews of ex-clients of the sharashka office confirm this. Bypass it so as not to replenish the client base of scammers.