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Finq

Latest release: 2.8 ( 19th December 2019 ) 🔍 Last analysed 11th July 2022 . Can't send or receive bitcoins Not updated in a long time
2.8 ★★★★★
39 ratings
23rd September 2017

The product can't send or receive BTC.

As part of our Methodology, we ask:

Can it send and receive bitcoins?

If the answer is "no", we mark it as "Can't send or receive bitcoins".

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.

But we also ask:

Was the product updated during the last two years?

If the answer is "no", we mark it as "Not updated in a long time".

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a long time are probably not well maintained. It is questionable if the provider even has staff at hands that is familiar with the product, should issues arise.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.

Help spread awareness for build reproducibility

Please help us spread the word discussing the risks of centralized custodians with Finq  via their Twitter!

Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

(Analysis from Android review)

App Description

Finq mobile app is built to robust standards, keeping the markets open for traders on the go and providing access to +2100 of the most coveted assets on the global market.

All this through the high-tech and yet simple to use WebTrader platform that incorporates deposit and withdrawal facilities and 1-click execution on all trades.

Select from 7 asset classes – Forex, Crypto, Stocks, commodities, bonds, ETFs, indices – and choose your favorite.

Oil, Gold or wheat - Apple, Samsung or Alibaba - Nasdaq, FTSE, Dow – Bitcoin, Ethereum, Dash – all the greatest and most tradable financial instruments are there with some of the best spreads and leverage conditions in the industry.

Finq.com charges no commission on trades. • Robust trading platform • 7 asset classes • 2,100 assets • No commission • 1-click execution

Trading CFDs (Contract for Difference) has never been more popular as a preferred method of investment. You don’t have to buy a share or a Bitcoin or a gold bar, instead you trade on the underlying asset as it moves up and down in the market.

This platform only allows getting exposure to Bitcoin and cryptocurrencies but not to send or receive bitcoins. Deposits and withdrawals are in fiat.

The types of trading accounts are listed on this page.

(dg)