Finotec – Forex Broker review

Finotec review and Rating

Name: Finotec review

Description: Finotec has been in operation since 1998, which is based in the United Kingdom. It was promoting its web-based platform since 2001. It is a child company of Internet trading company Finotec Trading Inc. which is a pioneer in this field. Finotec is regulated by the Financial Conduct Authority (FSA).

70%
70 of 100 1 review
  • Support - 80%
    80%
  • Platform - 90%
    90%
  • Insights - 60%
    60%
  • Leverage - 50%
    50%
  • Commission - 70%
    70%

Summary

Finotec offers 45+ Currency Pairs, 11 Indice CFDs, 2 Metal Spot CFDs, and 3 Energy Spot CFDs. Spreads between buying and sell prices on trading instruments are also pretty good with Finotec, starting from 0.0 pips on the most liquid trading pairs like the EUR/USD. When it comes to trading platforms, Finotec offers the choice between the classic MetaTrader 4 (MT4) platform, the Web XTrader, and the downloadable Currenex platform. Read Finotec forex broker review, rating, regulation, and detailed information for their services below.

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User Review
3.5 (4 votes)
Comments Rating 0 (0 reviews)

Pros

  • Finotec clients have unlimited access to streaming news feeds, email, and mobile alerts.
  • High-speed execution and clearance.
  • Enhanced access to liquidity pool.
  • Relatively low flat fee commission.
  • Registration with Finotec easy and fast.
  • MT4 platform
  • Professional and experienced trading brokers
  • Advanced trading tools

Cons

  • Finotec does not accept traders from the US as at the moment
  • Does not present the trading conditions well
  • Commission fees possibly apply
  • Initial deposit is high

There are three accounts offered at Finotec. A standard live account, a Demo account, and a Partner account. Trading accounts at Finotec can be funded through either bank wire transfers or major credit & debit cards. Commonly accepted e-wallet services like Skrill and Neteller are, in other words, not possible to use to fund trading accounts with this broker.

Company Finotec Trading UK Ltd
Founded in 1998
Online since 2001
Offices in United Kingdom
Payment options Credit/debit cards, Wire transfer
Demo platforms MetaTrader 4, Sky Trader
Account currencies Euro, Great Britain pound, Japanese yen, United States dollar
Currency pairs
AUD/CHF AUD/JPY AUD/NZD
AUD/USD CAD/CHF CAD/JPY
CHF/JPY EUR/AUD EUR/CAD
EUR/CHF EUR/GBP EUR/JPY
EUR/PLN EUR/USD GBP/AUD
GBP/CAD GBP/CHF GBP/JPY
GBP/PLN GBP/USD NZD/JPY
NZD/USD USD/CAD USD/CHF
USD/CZK USD/JPY USD/NOK
USD/PLN USD/SEK USD/SGD
Regulated by FCA (UK), 470392
Website available in Arabic, Chinese, English, Russian
Support available in Arabic, Chinese, English, French, German, Hebrew, Italian, Polish, Portuguese, Russian, Spanish, Turkish, Vietnamese
Support methods Callback, Email, Live Chat, Phone
Trading server time zone GMT
  • MAM accounts
  • Managed accounts
  • Islamic accounts available

Account Types

Mini Account

Minimum account size $200
Minimum position size 0.1 lot
Spread type Fixed
Spread on EUR/USD, pips 0.4
Trading instruments
Forex 1:200
Trading platforms MetaTrader 4
Sky Trader
Digits after the dot in quotes 5
Number of currency pairs 30
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading

Standard Account

Minimum account size $10,000
Minimum position size 0.1 lot
Spread type Fixed
Spread on EUR/USD, pips 0.4
Trading instruments
Forex 1:100
Trading platforms MetaTrader 4
Sky Trader
Digits after the dot in quotes 5
Number of currency pairs 30
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
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