Finq Broker ReviewMinimum Spread : From 1
Foundation Year : 2017
Min Deposit $ 100
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Finq Broker Review – Basics & Details: The article shall do a detailed finq broker review. It would discuss and examine the several significant features of the online trading platform for users. However, there would be no influence from the post to like or dislike the platform.
Significant Features of Finq Broker
Finq Broker’s financial assets’ range is one of the best. There are around 800+ instruments available to users for trading with the broker. One can buy or sell stocks, commodities, indices, bonds, ETFs, and foreign currencies. Remember, there is no option to purchase these assets in actual, instead only complex derivatives are available to trade.
There are no charges to execute a trade with any of the instruments, and a customer can apply different trading platforms on these assets.
Spreads and Fees
The broker doesn’t charge any fees from his clients in any form, except spreads fee. The primary revenue of the broker is from these spread charges. Further, there are usually fixed spread fees on the currencies; however, the broker has the right to change them. Also, note that there are overnight rollover charges with the broker and this fee gets three times on Wednesday.
Thus, make sure you watch all the spread and charges with the broker.
It is simple and straightforward to contact the Finq Brokers. You can contact them either via email or phone. The team is accessible from Monday to Friday, 24 hours a day. Further, the team responds quickly and tries to solve all queries to their best. The executives are aware of their platforms and portals and shall be able to get you the required information.
And if not this, you can find your common problems on the Finq Broker’s FAQ page in the form of Q&A’s.
Withdrawal and Deposits
There are several methods to deposit and withdraw money on the Finq website. A traders’ fund is processed within 3-5 business days for removal and 10-15 minutes for deposits.
The payment can be made in several ways, including WebMoney, Skrill, Neteller, and Bank transfers. One can use VISA, Master, or any of the credit and debit cards also.
There are no charges to withdraw or deposit your funds. However, remember the minimum deposit amount is 100 dollars to start the real buying and selling of assets.
Finq Broker regulates under the financial authority body of Seychelles, i.e. FSA. This Seychelles governing body is an offshore regulator who doesn’t have strict guidelines. However, Finq seems to be performing well and follows the strict rules and regulations towards the safety of the clients’ data, and security of the users’ funds.
But the absence of top tier regulations can’t be ignored, and the online trading platform would be reluctant to hire more experienced users. There is no policy like no negative balance.
Finq broker offers its users MetaTrader4 platform to trade its several financial assets. MT4 is the most widely used trading platform by the brokers.
It provides several features to ease the system. Some standard features are one-click trading, charts & patterns, market analyzers, automatic or Robo trading, algorithm trading, and many more.
All these features can be accessed through WebTrader, mobile applications, or on the desktop. These platforms make the user interface easy and smooth for clients, and the traders can execute trades without hassle.
Bonus & Promotions
Finq provides its account traders with many promotional offerings. First, there is a referral policy, where if a user refers some other person to join the broker, then the user shall be rewarded. The user will get his amount once the joiner adds $100 to his account, and the amount of referring varies on the friend’s first deposit money. However, it can go up to 400 dollars.
Second, there is a 50 dollar welcome bonus for everybody that joins the FInq broker for the first time. And lastly, there is a bonus on your first deposit too. This bonus can go as high as $400 and is withdrawable.
Types of Accounts
Finq offers its clients with four different types of accounts, namely, basic, classic, gold, and platinum. The basic account is for beginners who are trading for the first or second time and want to get more details of the investing market. The minimum deposit amount is 100 dollars for it.
Further, the minimum deposit amounts for classic, gold, and platinum account types are $1000, $5000, and $25,000. The features of each one of them vary, and the services get premium as you move up.
For instance, in the ‘basic’ type, you would not be getting a professional manager to advise you or premium educational material like webinars and seminars. However, in other account types, you shall be getting all these services.
Thus, make sure to choose the right type as per your requirements.
So, this was the Finq Broker review. The article included all the critical features of the online trading platform and discussed them in detail.
Finq facilitates a client to trade in around 2000 financial assets which include 60+ currency pairs, 20+ significant indices, and many more. The broker is regulated with FSA, Seychelles authoritarian body. However, FSA is a tier 3rd judiciary and doesn’t hold as much respect as the UK’s FCA or Australia’s ASIC. But Finq is operating in the market with all positives from the client review side and promises to work under rigid rules and regulations.
Some of the noticeable attributes are a range of account types, several trading platforms, and amazing promotional and offers policy. But they still need to work on their customer service as there is no live chat option still.
At last, the decision is in your hands. Pick the pen and match the broker’s features with your needs. One can also go for their free demo service to get the practical experience.
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