Finexo is a retail foreign exchange brokerage firm founded in 2003. Its head office is located in Cyprus and was established to enhance trading profitability through a wide range of instruments. The brand is operated by Trade Capital Markets, a financial firm filed under the Cyprus Securities Commission.
With financial instruments including foreign exchange, exchange-traded funds, indices, commodities, and cryptocurrencies, it sure does provide every need of both novice and professional traders. This diversified asset classes and consistent innovation gained Finexo large number of clients across the world, putting it next to other popular brokers in the market. Outlined below are the specifications of Finexo to help interested parties decide whether to enlist the services of the broker or not.
Finexo Account Selection
Finexo prides itself for having five accounts since industry-standard only ranges from one to three. By providing wider selection of accounts, clients are given complete liberty to open the best account suitable for their trading style.
- Micro- For a minimum deposit of $100, clients are given a maximum leverage of 1:300, 3 pips on any major pairs, and commission-free trading. Additional features include mobile trading, 24-hour customer support, and access to a stream of financial events and winning trades.
- Silver- For $1,000, the Silver account offers the same leverage rate that the Micro account provides. It is also commission-free but with smaller spread amounting to 1.9. Its features bear similarities with the Micro, only that it has extra features such as regular analysis and account manager.
- Gold- If one prefers to utilize premium features, they may start opening a Gold account. This requires a minimum deposit of $10,000 to gain access to a maximum leverage of 1:300 and spread as low as 1.5. It boasts of the necessary tools and features such as account manager, trading central, real-time financial updates, regular technical analysis and more.
- Platinum- One would find $50,000 a reasonable deposit since this account is equipped with the most favorable trading conditions- all made premium. Its leverage is still 1:300 just like the aforementioned accounts but it offers a relatively smaller spread on any major pairs worth 1.2 pips.
- Exclusive- Almost everything about this account is similar to the Platinum account, except only that this requires clients a deposit of $100,000 and its spread is 1 pip on any major pairings.
Finexo Trading Platforms
- MetaTrader 4- This popular platform stands as one of the most convenient since it is supported by any operating system. More so, this platform’s credibility is well-established mainly because of its optimum features such as one-click trading, stop and limit functions, and authoritative charting tools for analysis.
- WebTrader- This platform is generous enough to provide over 2,100 financial instruments. In addition to this, hassle and rough points are reduced since traders are able to access LiveChat, execute deposits and withdrawal, and place queries without direct contact from the back office. Its key features are centered on overall trade management, analysis, and risk reduction purposes.
Additional Features and Conditions
The education section of the broker’s site should be considered when looking for a broker. More so, it should be on top of your checklist since this would come as a tool to ace trading. It is somehow disappointing to see that Finexo is not prioritizing this aspect. We can all agree that it fell behind other brokers since it does not provide an effort to educate its clients about trading. The absence of such strongly suggests that this platform is not client-centered.
For anyone who wants to open a live account with Finexo, almost everyone across the globe is allowed to register except for those who live in the United States, Canada, and Japan. This problem has been raised in other reviews with emphasis on IP address restrictions.
But going to the interesting part, Finexo compensates by providing a decent customer service. Active lines on different media are available including real-time chat, email, and telephone. It also has a set of dedicated customer support team, ensuring that all clients’ queries will be given the right resolution.
Conclusion
There are several points that made Finexo a decent broker. For one, its asset classes are one of the most diverse in the market. Its account selection is also wide, allowing traders to pick the most ideal offer to go with their trading strategies. When it comes to platforms, MT4 and Webtrader are ready to give industry-leading experience.
Though there may be some setbacks that subscription entails, it is completely forgivable as all brokers do possess some disadvantages. If you think the aforementioned details would rake in profits, then it is recommended that you start your trading with Finexo.