FINMARKET Review

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General Information
Broker name:FINMARKET
Broker type:Forex
Country:Cyprus
Operating since:2020
Regulation:CySEC
Address:56 Griva Digeni Avenue, AnnaTower, First Floor, 2063, Limassol, Cyprus
Broker status: Active
Customer Service
Phone:
357 80092740
Email:support@finmarket.com
Languages:ENG, FR, IT, DE
Availability:24/5
Trading
Trading platform:MT4, WebTrader, MobileTrader
Demo account:No
Mobile trading:Yes
Web-based trading:Yes
Bonuses:Yes
Other Trading instruments:Currency, CFDs, Stocks, Commodities, Cryptocurrency
Account minimum deposit:250$
Maximum Leverage:0.180555556
Spread:Varies
Scalping allowed:NO

CONTENT

  • GENERAL INFORMATION
  • FUNDS TRADING AND SECURITY
  • TRADING ACCOUNTS
  • TRADING CONDITIONS
  • TRADING PLATFORM
  • FINMARKET’S TRADING PRODUCTS
  • CUSTOMER SERVICE
  • CONCLUSION

 

Broker Review: FINMARKET

finmarket trading

General Information

FINMARKET is a broker that’s been around for quite a while now, first appearing in 2015. The firm is based in Cyprus. The broker’s exact address is 56 Griva Digeni Avenue, AnnaTower, First Floor, 2063, Limassol, Cyprus.

Upon entering FINMARKET’s website, you’re greeted with a modern design and a showcase of some of the broker’s strengths. All the information you need to see is concisely listed, without unneeded visual clutter. On the bottom of the landing page, you can see some legal documents, as well as details about the sort of availability offered in different countries.

The top of the page contains drop-down menus that’ll take you to what you need to see. Overall the user interface is very intuitive, so you shouldn’t experience any confusion in navigating FINMARKET’s website. That’s especially commendable since the broker has been around for half a decade, meaning it’s successfully kept up with the times.

However, convenience only goes so far in the trading world. Although everyone prefers using a smooth service, many will overlook cumbersome platforms in favor of a better trading experience. As such, the question of FINMARKET’s benefits imposes itself. So here are some of the broker’s strong points.

finmarket review

·         NO FEES

An important thing to consider when choosing a broker is fairness. One thing that tips that scale against you is the presence of fees or commissions some brokers like to add as quick profit boosters. Those extra charges represent an inherent edge against a trader and can add up to meaningful sums quite quickly. That’s especially true if they come in percentages rather than a fixed or capped value.

·         STRONG REGULATION

Anyone that’s been trading for a meaningful period of time will recognize the names of certain license givers. CySEC, for example, is one that instantly marks a broker as trustworthy. FINMARKET works under CySEC’s regulation, which means there’s little room for mistakes on the broker’s end. On top of that, the firm follows European Regulatory Requirements related to MIFID.

 

Funds Trading and Security

finmarket review

As we just mentioned, the combination of security factors at FINMARKET results in an astronomically low chance of any foul play. Other than adhering to EU laws and a CySEC license, the broker has a pristine reputation, with very few reporting any dissatisfaction. FINMARKET’s website is also encrypted, meaning the things you input can’t be deciphered without a key; even in the case of hacking.

When you add everything up, there’s nothing to indicate any sort of maliciousness on the broker’s end. The rules and regulations are cut and dry, while their reputation, one of the best trust indicators, remains amazing. The last fact is especially significant due to the fact that FINMARKET has been around for a while. It’s quite rare for brokers not to have some sort of slip-up in half a decade.

 

Trading Accounts

FINMARKET’s accounts start at $250, which is the usual sum you’ll need to get started with a serious broker. The accounts are initially named after precious metals, ending up with Diamond and Elite, the broker’s VIP equivalent. The great thing about the way accounts are divided at FINMARKET is that there aren’t any features locked behind paywalls.

Namely, a person with a Silver account will have the same platform, assets, and support assets as a Diamond trader. The difference lies in lower variable spreads as you progress through account types. So you end up in a situation where you don’t need to upgrade to reach a quality experience, but advancing to more progressive account types still feels meaningful. Perhaps the best tactic is just enjoying the experience FINMARKET provides. As you stay loyal as a customer, the accounts might upgrade as sort of a side effect.

Of course, if you’re willing to spend a bit more, spoiling yourself with some better trading conditions is entirely viable. Whichever you decide to go with, you’ll probably want to see some specifications before you invest. Here’s what you can expect to see as far as the accounts go:

finmarket member

·         SILVER

Minimum deposit $250

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes

Commission discount up to: Standard

Forex Variable Spreads (EURUSD): 4.0

Indices Variable Spreads (DOW): 240

 

·         GOLD

Minimum deposit $5000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes

Commission discount up to: 15%

Forex Variable Spreads (EURUSD): 3.4

Indices Variable Spreads (DOW): 238

 

·         PLATINUM

Minimum deposit $20000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes

Commission discount up to: 65%

Forex Variable Spreads (EURUSD): 1.1

Indices Variable Spreads (DOW): 235

 

·         DIAMOND

Minimum deposit $50000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes

Commission discount up to: 75%

Forex Variable Spreads (EURUSD): 0.9

Indices Variable Spreads (DOW): 230

 

·         ELITE

Minimum deposit $250000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes

Commission discount up to: 85%

Forex Variable Spreads (EURUSD): 0.8

Indices Variable Spreads (DOW): 225

 

Trading Conditions

As you can see from the account typing, the baseline trading conditions are competitive, and they only improve as you go up. Although the spreads are variable, the account leverage is at 1:200, which is quite solid. On top of that, the website’s security ensures you won’t get tricked, which is a pretty big consideration in today’s world of trading.

Once you move past the base conditions, you’ll see that there’s a great deal of customization, which is always welcome. You’ll be able to trade on an excellent amount of assets, and there are six account types, meaning you’re in control of your experience. The broker also uses one of the world’s premier platforms, which only further boosts their rating.

Last but certainly not least, the deposit and withdrawal methods are quite quick, and there’s a good number of options. You’re quite likely to find the card or e-wallet method you prefer. On top of that, client funds are held separate from the firm’s, so even in fringe cases, such as bankruptcy, your funds are secure.

Trading Platform

finmarket platforms

As we already mentioned in our FINMARKETS review, the company provides traders with a top-quality platform in MetaTrader4. Experienced traders must already know the name, as it’s among the most used trading tech solutions in the world. The software has benefits no matter your skill level. With beginners getting to enjoy the intuitive UI and smooth learning experience, and veteran traders being able to employ a ton of analytical tools to boost the accuracy of their predictions.

The broker also made sure the two most prominent convenience features were available. The mobile trader lets you trade using your phone or tablet with a simple app download. Meanwhile, the web-trader doesn’t even need that much, meaning you can just log in and start trading as long as you’ve got a desktop device you can access.

FINMARKET’s Trading Products

FINMARKET provides a great variety of options when it comes to assets you can trade. There’s something in each major category, so each trader is likely to find their preferred method of trading. Not only that, but the website has a dedicated page for each trading instrument category, providing a bit of a further explanation. That especially benefits new traders who might be unsure of where to start.

  • Currencies
  • CFDs
  • Commodities
  • Digital Currencies
  • Stocks and Indices

Customer Service

FINMARKET’s customer service setup doesn’t fix what’s not broken. They offer two options in the phone line and email, with the added benefit of account managers and financial experts. That means you can rely on them not just for troubleshooting, but also for quality advice. Firms that offer such services are rare, and broker-employed trading assistants are hard to come by. As such, we’d strongly recommend even the most experienced traders to make use of the function.

 

Phone number: (+)357 2525 4070

Email: support@finmarket.com

finmarket contact

Conclusion

No company is without flaw, but it’s undoubtedly difficult to find issues in what FINMARKET provides. They’ve been operating for quite a while now, enough to establish themselves as a quality broker, and their reputation reflects that. Users seem to be quite happy with what they’re getting, and many are choosing FINMARKET as their trading hub. The company also appears to be continually evolving and rapidly evolving to the ever-changing needs of traders and the finance world in general.

Even when you look at the more objective specifications, you see that the broker is able to compete with industry leaders. The trading conditions, account typing, platform, and many other factors are all top-notch, indicating that the broker truly cares about customer satisfaction and service quality. Overall, FINMARKET is a great all-round broker, and you’ll be able to enjoy what it does, no matter your skill level or budget.

  • Support
  • Platform
  • Spreads
  • Trading Instument

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