Fostarapay has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: Fostarapay.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Fostarapay is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns
After using Fostarapay for over three years, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Intuitive for beginners|Economic calendar|Comprehensive tools|Good analytical tools
Cons: No live chat on mobile
Opened my account with Fostarapay when my bank disappointed me and I searched for alternatives and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Portfolio tracking tools|Social trading features|Full transparency|API access
Cons: Currency conversion fee exists
The platform itself is okay, but the customer service at Fostarapay is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Dividend tracking|Dedicated account manager|Low minimum deposit
Cons: No crypto staking|Nothing significant
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Fostarapay has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Not registered with regulators|Unrealistic promises
I was contacted by Fostarapay through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
For anyone considering Fostarapay, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
If you are reading this considering Fostarapay - run. I wish I had read more negative reviews while looking for alternatives to my previous provider. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Detailed reporting|Low minimum deposit|Smooth onboarding|Stable platform
Cons: Limited cryptocurrency options