Financial Aims LTD – Is It a Forex Scam? Find the Answer (2023 Review)
Financial Aims LTD claims to be a live company located in Kent. Founded in October 2002, its largest shareholder is Ian Steadman with a 100% stake. Financial Aims LTD claims to be a mature, micro-sized company, Estimated turnover of £3.6k with declining growth in recent years.
Financial Aims LTD appears to be rather basic and uninteresting. The website offers the same information we’ve seen thousands of times before security, safety, and the finest trading terms. However, retail traders like yourself have no license or value.
Let’s take a look at our unbiased Financial Aims LTD review to see what’s good and bad about working with this brokerage firm.
Is Financial Aims LTD a Scam for Forex and Crypto Trading?
Financial Aims LTD is purportedly owned by a corporation with the same name registered in the United Kingdom. The company is registered with Companies House and has been there since 2002. Furthermore, the address on the website and the address on the Companies House register do not match. Simply put, they looked for a financial organization that had been around long enough to appear legitimate and copied their name. It’s what we term a clone company.
Furthermore, there are no records of financialaimsltd.com in the FCA database, indicating that our broker is unlicensed.
The leverage provided by this trading firm is our final proof. All European and UK brokers, in particular, adhere to the ESMA leverage limit of 1:30 for retail traders. Financial Aims LTD provides odds ranging from 1:100 to 1:500, directly breaking the regulatory environment.
Financial Aims LTD is a purported UK-based broker that lacks an FCA license. The company has nasty provisions and demands that hinder investors from making monetary advantages or withdrawing funds.
To summarize, one should avoid Financial Aims LTD at all costs.
Where Do Financial Aims LTD Scam Victims Live?
The Financial Aims LTD trading fraud is most prevalent in Lithuania and the United Kingdom.
Furthermore, the results of an online platform show over 10,000 visits in January 2023, with the majority coming from Bulgaria and Russia. The broker operates without legal licensing all over the place, putting investor assets at risk.
What Trading Platforms Are Available?
Let’s take a look at another flop: the Financial Aims LTD trading platform. The company provides a basic proprietary app with its logo. Aside from trading history, there are no advanced tools or features. The variety of charts and indicators, of course, corresponds to TradingView, a free charting system.
Unlike this mediocre software, the other third-party platforms offer the most TAs, including trading bots and social trading capabilities. Fortunately, MetaQuotes Ltd provides a testing account directly through their website, allowing you to compare it to the Financial Aims LTD platform. You will immediately notice the difference and abandon this dubious broker.
Spreads and fees
The spread is rather wide, beginning at 0.6 pips for the EUR/USD benchmark. Other fees are advertised as low but with no specifics. Scam brokers, on the other hand, frequently give what appears to be fantastic in order to seduce investors. After you deposit, you will discover that your entire deposit has been stolen.
Let’s take a look at all four Financial Aims LTD account types and their differences.
Bronze – 1,000 EUR
Silver – 5,000 EUR
Gold – 20,000 EUR
Black VIP – 100,000 EUR
Each account brings in more tradable assets, webinars, and lower commissions. However, it’s worth noting that legit brokers often have Micro accounts starting with as low as $10. Compared to that, Financial Aims LTD’s minimum deposit is substantial.
What Trading Assets Does Financial Aims LTD Offer?
The firm offers access to five major asset groups, including:
- Currency pairs – EUR/USD, GBP/NOK, AUD/SEK
- Commodities – gold, silver, palladium
- Indices – DJIA, FTSE100, S&P500
- Shares – Tesla, Intel, BMW
- Cryptocurrencies – BTC, LTC, USDT.
Is there a Financial Aims LTD demo account?
The company exclusively provides genuine accounts. Simply said, if you want to try their proprietary technology, you must pay. And, based on the account types, it won’t be a small sum.
For good reason, the Financial Aims LTD Demo account is inaccessible. The company doesn’t want you to test the system and discover that everything they advertised and tried to sell you over the phone was a big fat lie designed to entice you into fraud.
Fake DMCA Case
Financial Aims LTD has used fake DMCA to hide their true picture of being fraudsters.
What is faking a DMCA case?
Have discovered notices employ the “back-dated article” approach. The incorrect notice sender (or copier) generates a copy of a “true original” article and back-dates it, resulting in a “fake original” article (an article that is a copy of the genuine original) that looks to have been published prior to the true original at first glance.
The copiers then send a DMCA to the relevant online service providers, claiming that the true original is the copied or “infringing” article and that the copied article is the “original,” and requesting that the true original article be taken down. Following the DMCA request, the individual who provided the incorrect notice removes the phony original URL, most likely to ensure that the article does not remain online in any way. If the takedown notice is effective, information that is most likely legitimate speech will be removed from the internet.
Before we proceed any further, please note the following points which may come in handy as you scroll down and read the rest of the investigation –
The original article was published legitimately on a website.
The DMCAs were clearly filed by an imposter, as evident in the Lumen Database records (listed above), as seen on the Google Transparency Reports.
Let’s see what people say about Financial Aims LTD
Customers who have dealt with Financial Aims LTD do not recommend going for this broker as they were unsatisfied with Financial Aims LTD’s service and people say that the deposit required to open an account with Financial Aims LTD is pretty high compared to other legit brokers, this reason is enough to believe that Financial Aims LTD is not a legit broker.
- If your broker does not answer, it could be a sign that they are not looking out for your best interests.
- Do your research, check for complaints, and read through all the fine print on the paperwork to avoid getting misled by a dodgy broker.
- Before attempting a withdrawal, start a micro account with a tiny amount and trade for a month.
- Your broker may be churning if you observe buy and sell activities for assets that do not match your objectives.
- If you’re trapped with a terrible broker, go over all of your documentation and talk about your options before taking more serious measures.
While traders may blame brokers for their losses, brokers are not always to blame. Before opening an account, a trader should be thorough and conduct research on the broker. If the research turns up positive for the broker, a small deposit should be made, followed by a few trades, and then a withdrawal. If all goes well, a greater deposit can be made.
If you are already in a bad situation, you should confirm that the broker is engaging in illegal activity (such as churning), try to get your questions answered, and/or report the person to the SEC, FINRA, or another regulatory body that can take action against them.
Financial Aims LTD has too many red flags. You should not invest with this forex company.