Our Finotec Review
Finotec is one of the oldest brokers, was established in 1998. The firm is operated by Finotec Trading Inc, is a leading trading service provider company based in London, UK.
In 2001, they launched their services globally with only forex trading. Nowadays, not only FX trading only, the offers to trade commodities, cryptocurrencies, CFDโs, binary options, indices, and stocks.
Finotec considers itself a Boutique FX Prime broker and gears wheels itself to speculation managers, Hedge Funds, and expertsโ traders just as to retail expedites. The broker eligible their customers to exchange with various brokers, market producers, and banks, offering a credit line โ in view of their edge account โ to the Leo Prime with whom they have a relationship.
Finotec Trust and Regulation
Finotec Trading UK is a partner of the Professional Traders since 1998. Finotec is regulated and licensed by the FCA (Financial Conduct Authority) under the 470392-registration number.
Account types
Finotec offers 3 types of accounts. These are Standard Individual Account, Partner or Corporate Account, and Demo account.
The account opening deposit is need 200 to start trading. The main variety between the two live accounts is commission and charges. There are no more information provides on the broker website.
Trading instruments
Finotec offers a wide range of trading assets. Traders can trade the following instruments and assets:
FX currency Paris: a trader can trade over 40+ forex currencies including exotic and major pairs.
Indices in CFDs: 11+ different indices available to trades.
Precious Metal Spot CFDs: you can trade gold and silver.
Energy Spot: a total of 3 energy is available to trade on CFDs, WTI Crude Oil & Brent and Natural Gas.
Features of Finotec
Finotec offers to eligible all buy and sell requests to be effectively coordinated up. It goes about as a go-between, expecting the role of both seller and buyer for exchanges and equitably accommodate exchange orders between executing parties.
The standard account offers to trade with the leverage of up to 1:200.
On their website, they provide a lot of technical analysis to analyze the market condition and plan for a perfect trade.
Proficient brokerage, and cutting edge back office system and innovation give a consistent clearing measure, with preparing directed by means of continuous steered orders that associate in a split second with global decentralized markets. All details such as trading history, transaction records, and market updates also provided
Their back-office gives completely proficient consolidated and integrated reports, straightforwardness to use, and provides previous and real-time execution.
Trading Platforms
Finotec offers the most popular MT4 and Web XTrade 2r trading platform. These 2 platforms offer different styles of trading and interface.
MetaTrader 4 trading platform
It is an electronic trading platform, and traders call it also the MT4 platform. This platform was invented in 2005 by the MetaQuotes Software. It is a comprehensive trading platform to trade forex currencies and other assets.
This platform features are:
Automated trading: the most interesting feature is automated trading. Nowadays, automatic trading is available on many platforms. But, automatic trading in the MT4 is quite simple. The platform was developed in the MQL programming language. So, it is simple to create any trading strategy. If you need any support you can go to the MQL forum and asks for help.
One-click trading: the first time this feature is not available on the MT4. But as the traders need and make trading simple the feature was added later. You can place the trade for buy or sell with just a single click option. This option is very important for scalpers and novice traders.
Notification alerts: presently we are busy humans. All days go on a busy schedule. So, sometimes we forgot many tasks and itโs difficult to check anything again and again. The MT4 platform has a good feature that will send you notifications for any changes. The process is simple, if you are using a phone, you can set it up in this way, open the tools > options > enable push notifications > create an alert.
MT4 Web Trading Advantages
- You can access it from anywhere via any updated web browsers.
- One-click trading and real-time updates.
- 30 indicators and 24 graphical objects
- 9 time-frames and trading history.
MT4 Mobile Trading Advantages
It offers to trade from anytime and anywhere. You can fully control a trading account.
- Thirty plus technical indicators and twenty-four plus analytical tool
- Multiple timeframes are available such as M1, M5, M15, M30, H1, H4, D1, W1, and MN.
- Bars, Japanese Candlesticks, and a broken line, total three types of chart available.
- Financial market news and real-time updates.
Deposit and Withdrawal
In our research, we see the broker accept cards including master cards, credit cards, debit cards, e-wallet, and bank wire transfer. The withdrawal process and fees are varied from the payment option to payment option. It may take up to seven working days to complete a transaction.
The minimum deposit is $200 for the standard account and a $10 000 need for the corporate account. You can use these below method for funding and withdrawal:
- PayPal
- Bank Wire
- Cards
- WebMoney
The default currencies are GBP, USD, EUR, and JPY.
Education and Research
Before starting trading Finotec wants to educate their clients. They provide possible all information about commodity and forex trading that increases knowledge.
There is no direct educational information or assets for novice traders or those who want to concern about forex trading.
To trade fairly and for future prediction, traders need as much as possible research. As our research, we didnโt find any information about any fundamental research or technical research on the broker website or other anywhere.
Client support
Finotec offers multilingual trading support including Romanian, Russian, Portuguese, Turkish Spanish, Arabic, German, French, Hebrew, Greek, Italian, Chinese, English, Polish, and Vietnamese.
The client support is available via email, phone call and website contact us form.
The reaching information:
- Phone +44 (0) 20 351 45555
- E-mail contact@finotec.com
Office: Mappin House, Oxford Circus London W1W 8HF, United Kingdom.