Finq Review

Review

Finq.com is an online Forex and CFD market-maker brokerage launched in 2017. It is headquartered in the Seychelles and is regulated by the Seychelles Financial Services Authority (SFSA), in common with many similar brokerage firms who choose a domicile in the Seychelles.

Finq.com offers traders the opportunity to trade a wide range of instruments mostly wrapped as CFDs (Contracts for Difference), offering over two thousand(!) tradable instruments, including an incredible selection of close to two thousand individual shares quoted in several leading global markets: the public stock exchanges of twenty-one countries, to be precise. In addition to individual shares Finq.com offers trading in over sixty Forex currency pairs and crosses, an unusually wide range of commodities including lots of softs plus the more common gold, silver, and WTI Crude Oil, Bitcoin, and twenty-three major global equity indices. Very unusually, even a few bonds are offered, plus over fifty ETFs (exchange traded funds). Maximum leverage (on Forex) is a very high, in most cases, 300 to 1.

Accounts

Finq.com is typical as a Forex / CFD broker in offering clients a market-maker execution model, in which spreads are charged without commission and market prices are “made” by the broker. Finq.com tries to “fix” the spreads, which differ by account type – basically, the more you deposit, the better spread you get. Although Finq.com tries to fix the spread, spreads can vary depending upon market conditions. Five different account types are offered by Finq.com.

The Micro account requires a minimum deposit of $100 and offers use of a free trading tool called “Events & Trade”. This account aims at a spread on the benchmark EUR/USD of 3 pips. The Silver account requires a minimum deposit of $1,000. It provides an additional free dedicated account manager and a daily analysis and aims at a benchmark spread of 1.9 pips. The Gold account requires a minimum deposit of $10,000 and provides an additional premium daily analysis and a free use of “trading central”. This account aims at a benchmark spread of 1.5 pips. The Platinum account requires a minimum deposit of $50,000, provides an additional premium customer support service and aims at a benchmark spread of 1.2 pips. Finally, the Exclusive account requires a minimum deposit of $100,000 and aims at a benchmark spread of 1 pip.

All accounts offer a minimum trade size of 1 micro-lot (0.01 full lots).

Scalping is not allowed, with all trades being required to be held for at least 2 minutes. As for hedging, a single hedge is possible, but multiple hedges in the same trading instrument are not permissible. Automated trading is possible through the widely-loved MetaTrader 4 trading platform.

There is a choice of trading platforms, with clients offered a choice between MetaTrader 4, a proprietary WebTrader, and app versions of both.

Features

An extremely wide range of assets are available for trading, particularly individual shares. Almost two thousand shares may be traded, primarily those quoted on major global exchanges mostly within the U.S.A., the U.K., and Germany.

Traders may trade Forex, Indices, Commodities, ETFs and Bonds as well as individual equities. The MetaTrader 4 platform will probably be more suitable for Forex / CFD traders while the WebTrader platform will be most suitable for clients wishing to trade equities, as it is not possible to trade all the instruments offered by Finq.com through either platform alone.

A range of interesting free trading analysis tools are offered, some of which are proprietary.

Education

Finq.com offers an education section on its site, consisting of about 40 video lectures on important trading topics. Including a tutorial on how to use the MetaTrader 4 trading platform.  The site also includes an economic calendar, a daily market outlook roundup, and an FAQ section on the WebTrader platform.

Bonuses and Promotions

Bonuses and promotions include a 25% deposit bonus and a “refer a friend” bonus. There is also the possibility of securing a volume-based bonus based upon the volume of trades taken, plus discretionary bonuses which may be awarded to favored clients.

Deposits/Withdrawals

Depositing funds into a Finq.com account is an easy and secure process. Both may be made using a few different methods, including credit cards, debit cards, bank transfer, Neteller, FasaPay, Globe Pay and Skrill. Withdrawals are generally made through the same channel that deposits have been made through. Finq.com add no charges of their own to any fees which may be charged by such payment processors.

Customer Support

Customer support is based in The Seychelles, offering support during business hours by telephone and email.

Conclusion

Finq.com has a well-rounded and professional offering for traders looking to trade a very wide range of assets in the form of CFDs, particularly in individual stocks and shares and ETFs, by use of a fast market-maker execution model. Finq.com could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from market-maker execution and trade a wide range of individual stocks and shares on a spreads-only model. 

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Features

In terms of features, the stand-out strengths of Finq.com’s’ offering are:

• An incredibly wide range of instruments available for trading: over two thousand instruments across the asset classes of Forex currency pairs, global equity indices, gold, silver, crude oil, and individual stocks and shares, as well as bonds, soft commodities, and lots of ETFs. The vast majority of the offering is in individual stocks & shares.
• Competitive spreads for larger depositors.
• Market-maker execution model.
• Maximum leverage as high as 300 to 1.
• Choice of Swap-Free account type (Islamic account).

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Platform

MetaTrader4

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom indicators help traders to predict future price movements by analyzing past and current price information. And the scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

WebTrader

The Finq.com WebTrader platform offers access to a sophisticated, fully customizable trading suite, without the need to install any software on your PC. Web Trader guarantees secure access to your account by making use of state of art Web technologies.

WebTrader has independent spreads, which are often lower than other platforms. It includes some interesting tools, including ‘Events & Trade’ which pinpoints instrument movement from the economic calendar whereas ‘Analyst Recommendations’ compiles forecasts for stocks. 

App Trade

WebTrader is available as an app for both iOS and Android devices.

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User Reviews

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