511
General Information
Broker Name:FinMarket
Broker Type:Forex Broker
Country:Cyprus
Operating Since (Year):2015
Regulation:CySec, 273/15
Address:56 Griva Digeni Avenue, AnnaTower, First Floor, 2063, Limassol, Cyprus
Broker Status:Regulated
Customer Service
Phone:+1 844 951 2224
Email:[email protected]
Languages:ENG, FR, IT, DE
Availability:24/5
Trading
Trading Platforms:MT4, WebTrader, MobileTrader
Trading Platform(s) Timezone:GMT +0
Demo Account:Yes
Mobile Trading:Yes
Web-based Trading:Yes
Bonuses:N/A
Other trading instruments:Currency, CFDs, Stocks, Commodities, Cryptocurrency
Account
Account Minimum Deposit ($):$250
Maximum Leverage:1:50
Spread:Variable
Scalping Allowed:No
Platform Review

FINMARKET Review (2021 Update)

CONTENT

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

 

 

General Information

FINMARKET is an established brokerage offering a broad range of trading services. It started operating in 2015 and includes various trading options, such as forex and crypto. The broker’s headquarters are in Cyprus, more precisely at 56 Griva Digeni Avenue, AnnaTower, First Floor, 2063, Limassol. Our FINMARKET review will assist you in deciding if they’re the right brokerage for you.

Finmarket Review

With over half a decade of experience, you’d be right to expect a lot from FINMARKET. However, an issue older brokers have is that they often fall behind. The online brokerage world and procedures have evolved rapidly in the last few years, leaving many in the dust. As such, it’s not uncommon to see older brokers hinging on their reputation, with a trader experience that can’t compete with others. Luckily, FINMARKET doesn’t fall into that category.

The broker did a superb job at updating each aspect of its service so that it’s indistinguishable from modern online trading giants. That starts with simple things, such as the design of its website. Visually, it provides clarity by going for a minimal, professional design. Thus, the colors are somewhat toned down so that they don’t divert too much attention. It looks pretty good visually and fulfills its role of conveying the broker’s overall atmosphere.

Additionally, the website is functionally commendable, running smoothly and quickly. Together with the way, it’s organized, it makes reading up on the brokerage a breeze. FINMARKET made sure to make everything about itself clear, demonstrating integrity. However, our FINMARKET review isn’t about the website but the broker’s trading capabilities. Luckily, FINMARKET’s trading-related services are on par or better than the industry standard.

Here are some of the specifications that caught our eye:

 

Finmarket Review

 

  • NO ADDED COMMISSIONS AT FINMARKET

To provide its customers with the best possible trading specifications, FINMARKET removed any charges for its services. That creates a situation where the trading process is entirely transparent, and the broker doesn’t artificially devalue your money. Additionally, the absence of fees ensures that no trading tactic is less viable than another. When you sum those factors up, it’s not difficult to see why not having extra charges is not only an advantage but a significant one.

  • EDUCATIONAL METHODS

Although the presence of educational materials isn’t by any means uncommon in the online brokerage world, they’re often near-useless. After all, why would you read a broker’s text about trading when you can find much more accurate information. If you truly wish to learn about trading by reading, you can use a wealth of independent online resources or professional literature. FINMARKET goes about educating its customers differently by employing webinars, professional assistance, and other face-to-face methods. Options such as those are difficult to come by and often expensive from other sources.

  • EXTENDED CUSTOMER SUPPORT

Most of us agree that waiting around for customer service agents to resolve your issue isn’t the most pleasant experience. That’s especially true if the customer service team has a break over the weekend, and your problem happens on Friday. That’s more common than you’d think in the online brokerage world and is a known source of frustration. FINMARKET partially alleviates the issue by extending its support work time from the usual 24/5 to 24/6.

Funds Trading and Security

 

Finmarket Review

Security is a hotly debated topic with any online service with a large amount of money involved. There’s a certain deal of discomfort when ordering a package from Amazon, let alone when potential tens of thousands of dollars are circulating through your online brokerage account. And with the expansion of online broker services, there are more scams now than ever. As such, traders are left in a tough spot, where they often need to demonstrate an unreasonable amount of trust.

However, with FINMARKET, that’s not the case, as the broker did everything in its power to eliminate traders’ reasons to worry. For starters, the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), notorious for being one of the strictest watchdogs out there. The regulator is glad to release data about any broker wrongdoings publically, dishing out adequate punishment. That can range from fines, blacklists, or cooperating with governments to organize a complete shutdown of services. As such, the license itself leaves little wiggle room for brokers that hold it.

Some traders, however, prefer practical displays over technical ones. That’s somewhat fair since specific regulators are much less strict than others and often create mistrust in traders. In that case, you can look at FINMARKET’s reputation, which will show you that it has a nigh-perfect record. In the case of online brokerages, you’ll always have someone complaining. We went through all the alleged issues, and it was apparent that most were just customers venting their frustrations over lousy trading decisions.

Lastly, if you need more proof of the broker’s trustworthiness, you can look at how it presents information. Shady brokerages will often attempt to hide details about their service in an attempt to lure customers. FINMARKET is entirely open and transparent, displaying confidence and ethics.

Trading Accounts at FINMARKET

FINMARKET has five different account options covering both budget and luxury traders. The cheapest option costs the standard $250 and is quite well-equipped for its price. It makes all the different asset categories available, along with providing competitive spreads. That means even fund-conscious traders have a fair shot at turning a significant profit, as we said already in our FINMARKET review, which makes them a solid fit for both newbies and veterans.

However, if you’re willing to invest a bit more, the broker is prepared to reward you. Higher account types get specific privileges in the form of improved trading conditions. That creates a balance most other CFD brokers miss, where the broker does incentivize upgrading but isn’t forceful about it. Here are some of the account specifications:

 

Trading accounts

 

  • SILVER

Minimum deposit $250

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes.

Commission discount up to Standard

Forex Variable Spreads (EUR USD): 1.6

Indices Variable Spreads (DOW): 230

 

  • GOLD

Minimum deposit $5000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes.

Commission discount up to 15%

Forex Variable Spreads (EUR USD): 1.4

Indices Variable Spreads (DOW): 230

 

  • PLATINUM

Minimum deposit $20000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes.

Commission discount up to 65%

Forex Variable Spreads (EUR USD): 1.3

Indices Variable Spreads (DOW): 230

 

  • DIAMOND

Minimum deposit $50000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes.

Commission discount up to 75%

Forex Variable Spreads (EUR USD): 1.1

Indices Variable Spreads (DOW): 225

 

  • ELITE

Minimum deposit $250000

Allow Expert Advisors: Yes

Hedging & Scalping allowed: Yes.

Commission discount up to 85%

Forex Variable Spreads (EUR USD): 0.7

Indices Variable Spreads (DOW): 200

 

Trading Conditions

We’ve already praised FINMARKET’s trading conditions, as they’re set up so that they can compete even with the heavy-hitters of the online brokerage industry. The tight spreads and sufficient leverage ensure that your trading process goes smoothly while the value of your funds is increased. However, you should be aware that leverage is a dangerous tool, and using it requires a bit of finesse. Additionally, the broker provides expert advice down from the lowest account tier, which is quite rare.

trading conditions

The secondary conditions are as good as those strictly trading-related, with tight security and a wealth of deposit/withdrawal options. As such, we have a situation where the broker is well-rounded and caters to a massive variety of traders.

Trading Platform

 

Another area where FINMARKET did well is enabling premier trading software for its customers. The software in question is MetaTrader4, the most common trading platform on the market. Also, while veterans are undoubtedly already accustomed to the tool, even newbies won’t have a challenging time grasping its intuitive UI. It also comes with two convenience features with web and mobile clients.

FINMARKET’s Trading Products

Near the beginning of our FINMARKET review, we mentioned that the broker covers a broad trading service area. Namely, the firm allows its customers to trade on every major category. Additionally, each section has more than enough products, allowing for simple diversification and quality selection. The trading instrument classes at FINMARKET are the following:

  • Currencies
  • CFDs
  • Commodities
  • Digital currencies
  • Stocks and indices

Customer Service

We mentioned the extended worktime of the broker’s support team earlier in our FINMARKET review. On top of that, you can reach the broker via email or phone. For the latter, it has multiple phone lines open, making contacting the firm easier for customers.

 

Phone number: +1 844 951 2224

Email: [email protected]

 

FINMARKET Review: Conclusion

FINMARKET blends experience and innovation, resulting in a quality all-around experience with the best of both worlds. In fact, the brokerage treats its customers well, with fair pricing, strong conditions, and top-notch support. Its stringent regulation and clean reputation serve as proof of the validity of its operations. Lastly, the broad area that its trading materials cover makes it suitable for nearly any broker.

From the entirety of our FINMARKET review, it should be apparent that we’re more than comfortable with recommending the broker. Its educational experience and trading tools make it a quality choice for traders of all experience levels; together with its diverse service, that makes FINMARKET a solid choice for almost anyone.

Overall
2.3
  • Support
    (4)
  • Platform
  • Spread
    (5)
  • Trading Instrument
Comments Rating 4.85 (511 reviews)


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