Introduction

The Fundiza website is wholly owned and operated by FUNDIZA Ltd. and was created to provide financial trading activities to a global client base. The company operates out of St. Vincent & The Grenadines under the registration number 25770BC2020.

The broker is a very new addition to the online trading ecosystem, having been launched in 2019. They have been rapidly adding to their client base since their launch, as traders have really taken to the transparency of the company. Reviews of the broker from clients have been largely positive and cast Fundiza in a good light.

Prospective clients who visit the Fundiza website will likely be surprised by the user interface, which differs from the usual broker website in its lack of promotional banners and other eye-catching elements. Rather than inundating users with market information or broker promotion the site has just the basic information about Fundiza. This includes all the licensing and registration information, along with links to the Terms & Conditions, Privacy Policy, and other policies regarding complaints/disputes, KYC/AML, Conflict of Interest, Trading Risks, and more.

It’s this transparency that has made Fundiza so popular in such a short span of time. Clients have greatly appreciated the open approach of the broker which contrasts with the opposite approach some brokers take in hiding as much information as possible regarding their policies and procedures. Fundiza has been able to leverage this approach into a bond of client trust.

While traders definitely appreciate the transparency to be found here, there are other characteristics and features that recommend this broker to prospective clients and we’ll touch on those things in more detail throughout this review.

A Quick Look at Fundiza

Normally part of the review process includes the creation of a demo account at the broker to test their platform. This wasn’t possible at Fundiza due to the lack of a demo account facility. It was also not possible to test a real money account as Fundiza’s minimum deposit amount is $5,000.

We did find the Fundiza site itself very informative. It includes all the information we would typically look for at a broker all laid out in very clear and easy to access ways.

We do know that the broker offers the Metatrader 5 platform and being familiar with the platform lets us know that trading with them would be on a technologically advanced platform. Past trials with the MT5 platform let us know that the experience here is likely to be excellent as well.

One thing we would note at the start is that due to the high minimum deposit required this might not be the best broker for new traders, unless they have prepared extremely well for their entry into the trading universe. Throughout the remainder of the review we will see if this is true, or if beginners could see benefits that would make it worth their while to find the capital needed to meet the fairly large minimum requirement.

Regulations & Licenses

Fundiza holds registration number 25770BC2020 from the Financial Services Authority (FSA) in St. Vincent & The Grenadines. That registration also serves as licensing for the broker. It should be noted that the license does not permit Fundiza to offer its services to residents of the USA, North Korea, Syria, or Iran. And the website clearly indicates that residents of any other jurisdiction will need to check themselves to be sure their jurisdiction allows the trading activities offered. In cases where the trading activity is not permitted by the laws of a jurisdiction Fundiza is not responsible for any resulting actions.

Account Types

Like most brokers Fundiza offers various account types, or levels, based on a minimum deposit amount. There are six such account levels and benefits for the account types increase along with the minimum deposit. Below are more detailed descriptions of each account type/level:

Rookie Account:

This is the base level account and it comes with a minimum deposit of $5,000. For that clients receive 24-hour support and an account manager. Minimum trade size for this account level is 0.01 lots, and the clients are provided with the Metatrader 5 platform, from which they can choose the desktop version, web version, or mobile versions.

Basic Account:

The minimum deposit required for this account level is $25,000. Based on the website information there are no additional benefits to this account level other than access to a greater number of assets to trade.

Premier Account:

The next level of accounts takes the minimum deposit to $50,000. It includes all the prior features while also adding an economic news feed. The website doesn’t specify what’s included in the news feed, or if it is proprietary or from a third-party provider. It would be nice to see what is included in the news feed to determine how valuable it is.

Elite Account:

The Elite account doubles the minimum deposit another time to $100,000. That’s as high as we’ve seen from online brokers. At this level clients receive all the previous benefits and in addition fixed spreads are added. There is also technical analysis of markets available at this level and as mentioned for the economic news feed it would be interesting to see if this technical analysis is proprietary or provided by a third-party.

Elite Plus Account:

Provides all the same benefits as the Elite Account. The only “Plus” we could see was the minimum deposit, which is increased to $250,000 at this level.

VIP Account:

The VIP account is for the wealthy traders out there, or professionals, as it comes with a $1 million minimum deposit. All the prior benefits are included at this level as well as a personal account manager and any help you might need from the broker.

The truth about Fundiza.com

So why are there so few negative Fundiza reviews online? Is Fundiza as exemplary a brokerage business as its reviews and website portray it to be? Fundiza is a new broker. It started running in 2019. Its greenhorn status may be a part of the reason why complaints about it have not prominently featured on most forex trader review websites.

The firm has an excellent looking website devoid of annoying ads and pop-ups. This feature gives it a clean, professional feel. You can easily scan through their offers at first glance and view all their legal documents at the bottom of the Fuliza.com home page. This feature gives the brokerage firm an aura of transparency, trust, and openness. Most new traders will quite easily fall for the Fundiza scam.

It clearly posts its license number, AML/KYC policies, risk warnings, and other terms and conditions on the website. This broker will quite easily net the unsuspecting broker. Fundiza’s legal policies seem to communicate to the trader that they do share equal responsibility with you when it comes to the protection of your trading capital.

By portraying their trading processes as fair, Fundiza does, in many ways, look like a legitimate online broker. They offer secured funds storage facilities, a clear fee structure, and 24/5 customer service.

Here is why you need to avoid Fundiza

Reading their complaints policy, you will notice that they have a service email for customer complaints. If you have any grievance against them, Fundiza requires you to keep it away from the public for at least a month of them evaluating your accusation.

They have not given a timeframe that denotes just how long the evaluation process takes. Consequently, if you lose your trading capital at Fundiza and openly make a complaint against them, you will suffer reputational cost damage of $100 per day. This is perhaps the reason why most of its customers seem to reserve their negative reviews.

Whether you play by their rules or not, if Fundiza mismanages your cash deposits or profits, you have very few chances of getting it back. Why? Fundiza has a St. Vincent & Grenadines, license registration number 25770BC2020.

Conclusion

Fundiza is a scam forex broker.

Unlike other trustworthy and well-regulated brokerage firms, Fundiza does not offer demo accounts for learning purposes. It has a minimum account deposit threshold of $5000 and a high leverage of 1:400.

If you deposit $5000 with Fundiza, there is a high likelihood that you will never access your money. There are rising complaints of an inability to access funds held at the firm.