FinFX

Added on January 18, 2012 05:36 AM
(4 / 5)
Spread: 1.3 Min. lot: 0.01 Execution: ECN,DMA
Leverage: 1:200 Country: Finland Regulated by: -
Min. deposit: $150 Platforms: MetaTrader Payment methods:

Compared to some of the commonly used trading platforms in Forex market, FinFX is relatively an innovative Forex broker. It was established in the year 2010, and since then it has been functioning properly. According to the claims of FinFX, it does not really require to be regulated and maintained by the Finnish FSA. At present, it does not even hold any regulations, even though it asserts that their brokerage does adhere to business guidelines, business standards and ethical values. Understandably, this is the reason why FinFX fails to accept American Forex traders. But, compared to FinFX, it is highly recommended to try other expert American Forex traders like HotForex and for non-US traders FXCM is still the best.

Trading Platform

FinFX, as the name indicates, is a Forex trading platform based in Finland, even through the website of the company is created in clear English, which makes it an easier option for most of the Forex traders, in different parts of the world, to trader. The website is available in 4 different languages – English, German, Russian and Finnish.

FinFx offers a simple and clear online trading service for Forex as well as other commodities to corporate traders as well as individuals. The primary platform used for Forex trading is MetaTrader 4, which is the best part we found about FinFx. The trading platforms are offered in 32 different languages to ensure that traders located in different parts of the world can benefit from the same. In addition to MetaTrader4, FinFX also offers a platform known as FX PowerTrader that they claim to be unsuitable for institutional and professional Forex traders.

Features

A very nice feature about FinFx is that it offers the Integral FX Grid, which is a typical trader platform that allows you to transit funds as well as trades simply, quickly, and safely, which is very important.

FinFX offers different trading accounts to its traders based on their affordability and means, something that every single trader will enjoy. There are Micro accounts for smaller trades, Normal accounts for business or personal trades, ECN and ECN pro trading accounts for experienced traders. The minimum deposit for a Micro account is $100. The minimum deposit for ECN account is $1,000. The minimum deposit for ECN Pro account is $10,000.  There is a separate ZuluTrader account, for which the minimum deposit amount is $500. Traders can choose from any of their preferred trading options, or even sample each of these types of accounts using the demo Forex trading account feature before depositing funds, in real time, with FinFx. The demo trading feature provides ample opportunities to traders to learn more about the various trading platforms provided by FinFX, which also helps in developing their skills.

There are several banking accounts offers by the Forex trader, which is a good point we found. Bank traser, Moneybrookers, Debit/Credit card, giropay are the banking options given by the broker. As a matter of fact, it was pretty striking to learn about the overall banking choices given and we have found that the options are pretty wide as compared to most of the Forex brokers we have seen of late. The demo accounts offered by the Forex broker are free and provide unlimited services. This is one feature that everyone will enjoy, especially beginners in Forex trading. Because most of the Forex brokers offer a limited period demo account, such as 7 days or 14 days, it becomes tough to learn about everything within a short period of time. Trading real time, after all, is going to involve hard earned money. FinFX gives the opportunity to enjoy unlimited demo account.  You can have as many demo accounts as you want before or even during opening your live account. Compared to the pool of new Forex brokers, it is quite obvious that FinFx is quite a decent and satisfactory broker for traders, both novice and pro, because of its demo account and other exclusive features. Especially for novices, this trading platform can be a great learning experience. You can try your hand at Forex trading before you start real time trading.

Help and Support

Customer support is offered by FinFx, which is another great feature we have found. The company’s live customer support is available 24/5, specializing in different languages – English, Finnish and Russian. You can expect prompt reply from their custom support agents, which is something really appreciable about the Forex broker. Although they are a, relatively, small set up, everything seems to be very well planned and coordinated, which is extremely important to stay stable and firm in this volatile Forex trading market. You will get prompt response to phone calls, and your emails will also be replied without much waiting. This is something that most users have actually liked about this Forex broker and their website.

Summary

All in all, it was found that FinFx is one of the most decent Forex traders in the recent times. They are definitely a smaller set up in comparison to the pool of brokers normally found these days, but their approach is quite interesting and well defined. They have taken small yet firm steps to hold on to this business so that they can progress well. Moreover, the fact that their demo accounts can be used as many times a possible before opening the live account is something that traders are appreciating already. It is an appropriate broker tool for novices who would like to train themselves with the demo account before they start using the live trading accounts. Other features of FinFX, including their customer support and technical support is praiseworthy. Even though they are just an upcoming Forex brokers in the vast field where there are so many established brokers having years of experience and enviable clientele, it seems that FinFX will also make its mark in the coming years. Because there are so many areas of interesting things about this Forex trader, there will be a steady pool of clients flowing in.


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