Founded in 2017, Finq is a web-based FX and CFD brokerage. It is overseen by the Seychelles Financial Services Authority and has its headquarters there.
With more than 2,100 tradable assets and about the same number of individual shares, the platform provides customers with the chance to trade a wide variety of instruments, primarily in the form of CFDs.
For clients that trade stocks, the WebTrader solution is the best option, whilst the MetaTrader 4 platform is best suited for forex and CFD traders. It is important to remember that none of the platforms can be used to trade each instrument independently.
The independent trading platform MetaTrader 4 is made for trading currencies, commodities, and other assets. It is the industry’s benchmark for retail systems and is user-friendly.
A bilingual interface, integrated help files, immediate execution, and a complete technical analysis package are all features of the terminal. Additionally, it offers automated trading and the tools MetaEditor, Strategy Tester, and Compiler for testing strategies.
Additionally, WebTrader serves as a cutting-edge, totally customizable trading program that doesn’t require any software to be installed. Secure access to your account is provided using cutting-edge online technology. It also provides independent spreads, which are frequently smaller than those of other platforms, and fascinating tools like the “Events and Trading” function, which precisely predicts how instruments will move based on the economic calendar.
Trading is possible across a wide variety of assets, particularly about certain equities. Approximately 2000 shares, principally those listed on the top stock exchanges in the globe, such as the UK, US, and Germany, are available for speculation. The option to trade currencies, commodities, indices, bonds, cryptocurrencies and ETFs is also available to users.
For all account types, the broker offers fixed spreads, which include 1.9 pips for popular currency pairs like EUR/USD. Accounts that have not been used for a year are subject to a $1 inactivity fee. When investors keep assets overnight, the broker also levies a cost known as a “switch fee.” Please be aware that day traders who close their positions during market hours won’t be impacted by this.
When making a deposit or withdrawal, there are no charges or commissions. However, your bank could decide to impose fees on you when you transfer money.
Finq.com is a well-designed and simple-to-use application if your schedule requires you to spend less time at your computer and more time traveling or away from the workplace. It is available for download through the Google Play Store for Android smartphones as well as the App Store for iOS devices. Both stores that sell it have received positive user ratings.
Money can be safely and easily deposited into your account. Debit/credit cards, wire transfers, Neteller, FasaPay, and Skrill are a few of the options for both deposits and withdrawals. Generally speaking, you will withdraw money using the same method that you deposit it. The minimum withdrawal and deposit are $100.
After providing your basic registration information, you can create a demo account to gain access to a $10,000 virtual money simulation.
You can test out the following account currencies: USD, RUB, and ZAR. The Entry Wizard will walk you through this process, after which you can familiarize yourself with the simulated markets.
In terms of regulation, the broker is not as robust as some of its rivals. This is because only the FSA in Seychelles, which isn’t the most reputable regulatory body, granted it a license. For some investors, the fact that there are no rigid requirements to fulfill to obtain a license from them may raise a red flag.
The broker offers account options for different types of traders. The broker offers a total of six accounts, each with:
The broker also offers swap-free Islamic accounts to its clients.
During business hours, Monday through Sunday, you can reach customer service via email or WhatsApp. English-speaking assistance is offered. On the official website, you may find contact information.
Traders from Germany, France, Norway, Sweden, Italy, Denmark, Belgium, the United States, Canada, Australia, Saudi Arabia, and Saudi Arabia are not permitted to use Finq.com.
Investors who want to trade different assets in the form of CFDs employing a market maker execution model can do so through the broker’s entire brokerage service. This is particularly beneficial for individual equities, stocks, and ETFs. Users should use caution nevertheless, as the broker’s financial capabilities are not closely controlled by reputable agencies. This indicates that there is a risk component that will deter certain traders.