Is Finhay safe? Is it a scam? Should you invest?

1. What is Finhay? Overview of Finhay Information

- Many people are still unaware of what Finhay is. Essentially, it's a financial investment and micro-saving app in Vietnam established since 2017, leveraging 4.0 technology; directly managed by Thien Viet Fund Management Company Limited.

- With this application, users can accumulate and invest small amounts of capital, thereby building wealth for the future. Hence, Finhay app has garnered significant attention from investors both domestically and internationally.

- Finhay app is suitable for young individuals with limited capital who want to invest in financial markets to generate income through accessing channels such as stock markets, investment funds, or savings accumulation,... Specifically, Finhay targets Vietnamese citizens aged 18 and above, regardless of profession or educational background.

In reality, financial investment is prevalent in various forms such as cryptocurrency investment, stock market investment,... If you're looking to learn about the stock market to optimize the value of your investment, the top stock trading apps on mobile below will help you consolidate knowledge and rapidly increase experience.
 

2. Is Finhay Safe? Is it a Scam?

* To answer this question, it's necessary to consider factors such as legality, credibility, security, profit generation methods, commitments,..

- Legal Compliance, Reputation: According to available information, Finhay is granted the Science and Technology Enterprise Certificate by the Hanoi Department of Science and Technology (15/7/2020); holds a Business Registration Certificate. Finhay ranked in the Top 100 Fintech in the World in 2019, Second Prize in Fintech Summit 2019 by Vietnam Silicon Valley Accelerator.

Moreover, it undergoes biannual audits by Ernst & Young; the investment portfolio is directly managed by Lienviet Fund Management Joint Stock Company.

=> With these details, it's evident that Finhay operates transparently, adhering to business registration and accounting audit regulations.

- Security: CMC Technology Corporation is responsible for Finhay's information technology aspects.

- Operations, Operational Method:

+ Finhay acts as a financial intermediary, connecting users (investors) with investment funds. Additionally, the app provides analysis and reports on various funds for users to consider and select. Users choose investment funds and channels, and Finhay executes transactions accordingly.
+ Currently, the following funds collaborate with Finhay: VNDAF by VNDirect; TCBF by Techcombank; BVBF by Bao Viet; VCBF by Vietcombank; VF1, VFB, and E1VFVN30 by Vietnam Fund Management Company VFM; SCA by SSI. These are reputable, well-known funds that many investors choose.
+ Fund activity information is registered with the State Securities Commission.

=> Conclusion: Therefore, Finhay's operations are transparent, public, safe, and not fraudulent.

Is investing in Finhay safe? Should you invest in Finhay?

* So where do these Finhay scam rumors come from?

There are two reasons behind these rumors. Firstly, users may not fully understand how to use Finhay. For example, incorrect information input may result in not receiving money or incurring usage fees, leading to suspicions of fraud. Secondly, users may not grasp the nature of investing in funds, stocks, bonds, etc. As initially introduced, Finhay is merely a intermediary app connecting investors with funds, not interfering with how you choose to invest. Therefore, effective investing requires understanding.

So essentially, Finhay scam allegations stem from investors' lack of knowledge and failure to thoroughly understand the operation and investment methods, resulting in losses or money loss; it's not the app itself scamming.

3. Should you invest in Finhay?

While investing in Finhay is not fraudulent and is entirely transparent, it's important to understand both the advantages and limitations of this fund before deciding to invest:

* Advantages:

- High safety level, utilizing modern information technology;
- Suitable for individuals with limited capital and little investment experience;
- Finhay guarantees a 5% annual interest rate on savings;
- Easy monitoring and management of investment funds through Finhay's reports and analysis;
- Ability to analyze users' risk, potential, and preferences, with the app suggesting the most suitable investment structure for each individual;

- Offers 5 investment structures for users to choose from according to their preferences:

+ Hoan Kiem Turtle: Designed for investment funds in bonds.
+ White Stork: Intended for investment funds in bonds and a small portion of stocks.
+ Elephant Forest: Evenly distributed for investment funds in bonds and stocks.
+ Saola: Tailored for investment funds in stocks and a small portion of bonds.
+ Water Buffalo: Tailored for investment funds in stocks and a small portion of bonds.

- User information is kept confidential.

* Disadvantages

When using Finhay, it's important to consider the following issues:

- Not suitable for large, professional investments;
- Long-term profit generation;
- Incurs certain fees when used;
- Average interest rates, not higher than bank interest rates.

=> Based on financial capabilities and understanding of fund investment activities, financial channels, you decide whether to invest in Finhay. According to the shared investment experience, if you're a beginner exploring investment activities with limited capital, choosing Finhay is advisable.
 

4. Guide to Registering a Finhay Account

Firstly, download the Finhay app to your phone.

- Step 1: Access the app, select 'Register' => 'Register with phone number'.

- Step 2: Enter Information

Enter phone number, email => Click 'Continue' => Enter 'Full Name' => Click 'Continue'.

- Step 3: Set Password

Set a password for your Finhay account => Click 'Complete registration' => Enter the verification OTP code

- Step 4: Complete registration, log in with your phone number to use

The verification code is sent to the phone number you registered. After completing the steps to enter the verification code, you have successfully registered for a Finhay account and can log in to use.

Additionally, you can also register for a Finhay account using Google, ID Apple, however, registering with your phone number is the most recommended method.

Raising deposits with high interest rates at all terms, Finhay is also a financial app that many people consider when they need to save, optimize the value of their idle money. So should you save with Finhay, how to contact Finhay hotline? The content below from Mytour will help you find the answer.

Above is all the information about the issue of Is Finhay safe? Is it a scam? Should you invest? Each person needs to balance their personal financial situation, study specifically about Finhay or any other investment apps, funds before deciding to participate. Hopefully, with useful insights and serious research, Finhay users will have effective profitable investments.