Finq.com is a CFD trading platform that offers a wide range of assets within the CFD category, including bonds, indices, Forex, ETFs, commodities, and stocks. With over 2,100 CFD assets to trade, Finq.com has made a name for itself as a competitor in the trading industry. The platform offers zero commission and 24/5 customer support, making it an attractive option for traders. Finq.com also offers a variety of research and educational tools, making it an excellent platform for both experienced and novice traders. The broker is relatively new, but it has already signed up millions of traders and offers up to $4,000 in welcome bonuses.
Finq.com Pros & Cons
Pros
- Trade more than 2100 instruments from 7 asset classes including bonds and ETFs
- Traders’ Trend helps investors understand market sentiment
- Zero commission model with starting deposits as low as $100 (for all assets except CFDs on Stocks)
Cons
- No MT5 offered (only MT4)
- Does not accept traders from the United States
- CFDs on stocks require a minimum deposit of $1,000, while all other assets have a minimum deposit of $100.
Who Is Finq.com Recommended For?
Finq.com is recommended for traders who are looking to trade a wide range of CFD assets, including bonds, indices, forex, ETFs, commodities, and stocks, and who want to benefit from zero commission trading. It is also suitable for traders who are looking for a broker that offers a range of research and educational tools to help them make informed trading decisions. However, it should be noted that Finq.com is not available to EU or American traders.
Account Options
- Minimum Deposit: 100
- Forex Majors Spread: EUR/USD: (max) 1 , GBP/USD: 1, USD/JPY: 1
- Maximum Forex Leverage: 1:300
- Free Demo Account: Yes
- Traders From USA: No
Finq.com Account Types
Finq.com offers four account types, which are:
- Silver Account:
- Minimum deposit: $100
- Daily analysis
- Desktop/mobile trading
- 24-hour customer service
- Educational tools
- Gold Account:
- Minimum deposit: $10,000
- All the features of the Silver Account
- Premium customer support
- Platinum Account:
- Minimum deposit: $50,000
- All the features of the Gold Account
- Premium customer support
- Tighter spreads
- Exclusive Account:
- Minimum deposit: $100,000
- All the features of the Platinum Account
- The best spreads
- Personalized customer support
- Access to exclusive events and promotions.
Trading and Investment Tools
Finq.com offers various trading and investment tools including One Click Trading, Trade off Charts, Email and Mobile Alerts, Stop Order, Market Order, Trailing Stop Order, OCO Orders, Limit Order, and 24-hour trading. However, the platform does not provide a charting package or a streaming news feed.
Regulation and Security
Finq.com is a regulated CFD trading platform, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). This ensures that the broker adheres to strict regulatory standards to protect clients’ interests.
To secure client funds, Finq.com segregates client funds from the company’s operational funds, and all clients’ deposits are kept in top-tier banks.
Moreover, Finq.com utilizes advanced encryption technology to ensure that all data and transactions on their website are secure. The platform also offers negative balance protection, ensuring that traders do not lose more than their account balance in the event of a market gap or other unexpected market event.
Fees & Commissions
Finq.com operates a zero-commission model for all account types, but they do have spreads and swaps/rollover fees. The spreads vary depending on the account type and the asset being traded, but they start as low as 1 pip for some forex pairs. Swap/rollover fees are charged for holding positions overnight, and the fees are also dependent on the asset being traded. It’s important to note that trading with leverage involves additional costs, including financing fees and potential losses that can exceed the initial investment. Finq.com does not charge any deposit or withdrawal fees, but fees may be charged by the payment provider.
Conclusion on Finq.com
In conclusion, Finq.com is a CFD trading platform that offers a wide range of assets within the CFD category. It provides more than 2,100 CFD assets with which to trade, including bonds, indices, Forex, ETFs, commodities, and stocks. The platform is user-friendly and offers a variety of educational and research tools to help traders make informed decisions. Finq.com also offers a zero-commission model with starting deposits as low as $100 (for all assets except CFDs on Stocks) and up to $4,000 in welcome bonuses. However, it should be noted that Finq.com is not regulated in the United States or Europe and does not offer MetaTrader 5 (MT5). Additionally, their charting package and streaming news feed are limited. Overall, Finq.com could be a good option for intermediate to advanced traders who are comfortable with the risks associated with CFD trading and prefer a user-friendly platform with a wide range of tradable assets.
I guess it’s almost impossible to reach their top account. I mean exclusive one. Thus I don’t understand why broker sets such restrictions.
I didn’t have any knowledge of bonds trading when I joined Finq, but they managed to give me the confidence to do it well. I want to thank their support team for their professionality and kindness.