FINdeto is a brokerage company promising to transform trading into something extraordinary with the help of a modern platform that changes the approach of traders. The official website lists Demeterer (PTY) LTD as the legal entity, which is registered in South Africa and regulated by FSCA. An African broker? It is something new and interesting, however, the presence of registration and licenses still needs to be verified, as well as the reliability of the platform, because it can easily turn out to be a scam. Especially since online reviews are very few, so it is not appropriate to talk about the extensive experience of the organization.
Table of Contents
Highlights
| 🏛️ Country | Republic of South Africa |
| ⚠️ Regulation | FSCA |
| 🖥️ Website | https://www.findeto.com/ |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $5 |
| ⚖️ Minimum and Maximum Leverage | 1:100 |
| ⚙️ Trading Platform | cTrader |
| support@findeto.com | |
| 📞 Phone | +44 203 769 8395, +27 10 534-7519 |
First Impression of Findeto.com
The official FINdeto website is a set of repetitions of the same advantages and strengths, a brief listing of trading conditions, and some meaningless offers. Despite all this, the site is clearly made poorly and is incomplete. An English version is included, but for some reason, some parts are in Slovak. There are social media icons, but they lead back to the main page, not to accounts.
Visitors to the site can familiarize themselves with the following information on the top panel:
- Markets.
- Platforms.
- About us.
- Account types.
- Personal zone.
FINdeto has provided too few details and specifics. For example, the “about us” section hardly contains any useful information about the broker. They could have written the date of foundation, business model, and licenses, but for some reason, they did not. In short, the site looks boring, template, and clearly needs further work.
Partnership and Bonuses
The broker offers several types of bonuses: deposit, trading, and cashback. The bonuses cannot be withdrawn because certain conditions must be met first, which most often include executing a specific trading turnover. FINdeto does not disclose the specific conditions.
The affiliate program is not mentioned on the website, however, looking ahead, when registering an account, one can enter a referral code. Most likely, it is the invitation code. Therefore, there is indeed an affiliate program.
Account Opening on Findeto.com
The registration process at FINdeto includes providing personal data, also contact information, choosing the account’s currency between EUR and USD, selecting a language, and a country, as well as agreeing to the user terms, privacy policy, and confirming that you are 18 years old or older. Next, the system will send a confirmation email, where you will need to set a password for the platform because an account is created in the terminal simultaneously with the registration.
The dashboard interface is quite standard and clear. Users can open new accounts, edit personal information, upload documents for KYC, connect to 2FA, change the password, view transaction history, and trading statistics. FINdeto also offers to open a demo account to test the service.
Verification
It is unclear whether the verification procedure is mandatory or not. The document upload process takes place in the personal account. FINdeto requires just two documents: the first to confirm the client’s identity, and the second to confirm the residential address. There is also no information on how long the verification process will take.
- None.
- The KYC procedure is not described in any way.
- It is unknown how long the document check takes.
Trading Software
FINdeto uses the cTrader terminal as its trading platform, which is available in three versions: desktop, webtrader, and mobile trader. The platform can be downloaded to mobile phones as a separate application. We will not discuss the advantages of cTrader because it is quite a popular software with many guides, instructions, and reviews available.
| Features | FINdeto | Squire’s Finance Limited | RannForex |
|---|---|---|---|
| Demo Account | ✔️ | ❌ | ✔️ |
| Mobile App | ✔️ | ✔️ | ✔️ |
| Own Development | ❌ | ✔️ | ❌ |
How Can I Trade With FINdeto?
Traders have access to over 4600 assets: forex, metals, indices, stocks, commodities, and cryptocurrencies. After creating an account in FINdeto, it is necessary to choose a tariff plan. We will discuss the types of accounts further on.
All Info About Accounts
FINdeto has only three account types, not counting Islamic and demo accounts:
- Bronze. Standard spreads, fast Execution, desktop and mobile trading, analysis and trading reports, and basic training sessions. The commission is $5 per 1 lot.
- Silver. The commission is $2/lot. More favorable conditions, and additionally the assistance of a personal manager are included.
- Gold. Interbank spreads, free webinars and education, and zero commission.
Leverage is not specified anywhere, but in the terminal, it is 1:100. However, how to change the leverage, either to decrease or increase it, is unknown. Commission sizes are indicated, but spreads are not, although it is also an important parameter. Traders need to understand how much they have to pay besides the commissions. The minimum deposit is also not specified, but in the personal account in the deposit section, the range is listed as from $5 to $100,000. There is some secrecy and lack of transparency at FINdeto.
The third tariff, “Gold”, raises big questions. FINdeto does not take commissions from those who have this tariff, while spreads are marked as interbank. The question arises: “How does the broker earn money?”. If there is no commission and the spreads are interbank, it appears that the company does not earn money? It is a serious hint at a dealing desk business model, meaning a conflict of interest. It is also worth noting that the business model is not disclosed on the company’s website at all.
- There is a demo account and an Islamic account.
- Some terms and conditions are not disclosed.
- The broker follows the principle of “pay more to get more favorable conditions”.
Market Analysis and Education With Findeto.com
The company provides clients with educational resources, a knowledge base on trading, the platform, technical analysis, and other information. There are guides and full-fledged tutorials available. However, it is worth noting that the cTrader terminal includes a news feed and an economic calendar, but it is more the merit of the software developers, not FINdeto.
Deposit, Withdrawal, and Fees
The balance can be replenished using credit/debit cards and bank wire transfers. The minimum amount for a bank transfer is $5,000. The minimum amount for withdrawal via bank is $100, and for other methods, it is $20. No commissions are charged, but FINdeto does not disclose how long it will take to process withdrawal requests.
| Features | FINdeto | Odyssey Investment Group | General Trust Group |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ❌ |
| Crypto Transfers | ❌ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
For communication with managers, there is an email and a phone number. Registered users can write to the online chat for immediate contact in the personal cabinet. Strangely, FINdeto lacks social media accounts, despite the presence of icons on the official website.
- There’s a phone number, email, and online chat.
- There are no social media accounts, although there are LinkedIn, Facebook, and Twitter icons.
Is FINdeto Dangerous?
The company appears to be more dangerous than reliable, but there are no direct signs of fraud. A modern and popular terminal is used here, but some terms are hidden; the contact details are real, but the website needs further development. In general, it is difficult to conclude whether FINdeto is a dangerous broker or not. It is necessary to find out when the firm was founded and whether it actually has licenses.
How Long Does The Broker Work?
The length of operation is unknown, but there are too few mentions of FINdeto on the internet, which hints at a relatively recent start date. Meanwhile, the domain of the website was only registered in July 2023, indicating that the firm was launched quite recently.
How Is FINdeto Regulated?
The user agreement specifies the legal entity DEMETERER (PTY) LTD, based in South Africa and regulated by FSCA. We checked this registry, and indeed, such an organization was authorized there in 2019, and the legal entity was created in 2016.
A Google search for the name DEMETERER (PTY) LTD led us to another brokerage organization called Swissco. Interestingly, the website of our review’s subject is very similar in structure to the Swissco.com website, having the same sections but different color schemes. However, the domain for Swissco was created in 2001, although the broker states that it has been operating since 2013. A look at the Web Archive reveals that the domain was for sale until 2023, and only in that year did a brokerage platform appear on it.
What could this actually mean? A group of similar fraudulent websites or legitimate companies? Perhaps it is the work of the same scammers who took a legal entity from South Africa and are presenting it as their own? In any case, it is a negative sign. Additionally, just to be sure, we checked the UK Companies House and the FCA register because the website lists a phone number from this jurisdiction, suggesting there should be a company’s office there. However, a search by the name FINdeto and Demeterer (PTY) LTD yielded no results. It raises even more suspicions.
| Features | FINdeto | Geratsu | Impresamarkets |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ✔️ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With FINdeto?
Is FINdeto Legit?
How Risky Is It?
Kevin Berry I think these are scammers who found an unknown company from South Africa holding a license from FSCA. Fraudsters have created two similar websites, assuring potential clients that they are a safe platform for trading. However, in reality, their brokers are fake and a scam, and the African organization has nothing to do with the crooks. I could be wrong, but everything looks exactly like this. A fresh domain, adherence to a policy of secrecy and opacity, and a small number of reviews – aren’t these proofs? It is unlikely that a brokerage intermediary operating since 2016 would have so few mentions on the internet.
FINdeto rating
2 reviews about FINdeto
Forget about cooperating with that scam… find a decent company that is regulated by the FCA, CySEC, or ASIC, and don’t even think about opening an account here… you are facing a rotten and dirty fake platform, created for fraud and deception… people are losing money here… the company is little-known, but this is precisely a negative sign… in short, there are plenty of red flags… it’s a scam, that’s all…
I have serious problems withdrawing money from FINdeto. I invested here with a credit card $2k, now I can’t withdraw. I thought I could trade here and earn money on Forex, but it didn’t work out. The commissions are very large, and you still have to pay spreads. At the same time, the platform, although it works well and looks beautiful, sometimes freezes. Access to the personal account often disappears. In short, it is impossible to trade with FINdeto.
So I thought, why not get the money back if I can’t succeed, and I only lose money. But it turned out to be an insurmountable task. Most likely, the broker turned out to be a fraud and scam. Just some fake firm involved in internet fraud. I have been waiting for my money for over a month now. I am waiting for the withdrawal request to be processed, but nothing happens. The scammers don’t want to withdraw my $1.5k left after unprofitable trading.