Finq Review 2019 – Finq.com a Scam? - Eaglesinvestors

In 2017, Finq.com launched as an online Forex and CFD market maker brokerage. The main headquarter is situated in Seychelles, and Seychelles Financial Services Authority (SFSA) regulates it.

In common, it regulated with some similar brokerage firms who choose a domicile in Seychelles.

Though Finq.com is a new brokerage, whereas its roots reach back way further than that; apparently, it involved with ForexYard.com and Safecap Investments Ltd as well as leads Capital Markets for a while.

The corporate background of this brokerage has nothing to do with any of those entities, though.

Opportunities for Traders

Traders get a break with Finq.com to trade a wide range of instruments that mostly wrapped as CFDs, offering over two thousand tradable instruments.

They include a remarkable collection of close to two thousand single shares quoted in numerous leading global markets – the public stock exchanges of twenty-one countries, to be precise.

Furthermore, adding to individual shares, Finq offers to trade in more than sixty Forex currency pairs and crosses. An uncommonly wide range of commodities along with twenty-three major global equity indices as well as the more familiar gold, silver, WTI Crude Oil, and Bitcoin.

Very uncommonly, even a few bonds offered, and more than fifty ETFs are also a part of it. In most cases, the maximum leverage is very high such as 300 to 1.

Also, it is worth mentioning that Finq offers its Muslim counterparties an Islamic account.

finq review

In this Finq review, you will see how it offers lots of features that other competitors in the market, also provide.

Among the FX-trading, the reputation of this brokerage is not particularly stellar right now. Some of the traders indicate that the broker is a market maker, whereas others criticize the quality of the 24/5 support it offers and the conditions that knot its bonus.

Still, others consider the verification system used by the broker to validate withdrawals is excessively long and complicated.

Hardly, about half of the users have bothered posting reviews/feedback about the brokerage that had a positive on its services.

Origin of the Title (Finq.com)

Furthermore, the title “Finq.com” stated as an Asian focused operation. As such, it does not accept traders from the EU, the US, Canada, and Belgium.

The website itself declares that it does not accept clients from any jurisdiction where its functioning is in any way shape illegal.

Accounts of Finq.com

In offering clients a market maker execution model, Finq.com is typical as a Forex or CFD broker. In this model, spreads charged without commission and brokers made market prices.

Finq.com often tries to fix the spreads that differ by account types. Basically, the more you invest, the better spread you will have.

Though Finq.com tries to fix the spreads, however, spreads might vary based on market conditions.

In this Finq review, you will see five different account types and an exclusive account (Islamic accounts).

  • The Micro Account
  • The Silver Account
  • The Gold Account
  • The Platinum Account
  • The Exclusive Account
  • Islamic Accounts

finq review

The Micro Account:

It requires at least $100 to deposit as well as it offers to use a free trading tool called “Events & Trade.” On the benchmark EUR/USD of 3 pips, the micro account aims at a spread.

The Silver Account:

It needs at least $1,000 to deposit. Additionally, it provides a free dedicated account manager and a daily analysis. It focuses on a benchmark spread of 1.9 pips.

The Gold Account:

It requires at least $10,000 to deposit, and it provides an additional premium daily analysis along with free use of the “trading central” tool. The gold account focuses on a benchmark spread of 1.5 pips.

The Platinum Account:

It requires at least $50,000 to deposit. This account also provides an additional premium customer support service. It aims at a benchmark spread of 1.2 pips.

The Exclusive Account:

It requires at least $100,000 to deposit. This account provides an additional premium customer support service and aims at a benchmark spread of 1 pip.

Smallest trade size of 1 micro-lot (0.01 full lots) comes offered with all accounts.

With all trades being expected to hold for at least 2 minutes, scalping is not allowed. A single hedge is possible for hedging.

However, many hedges in the same trading instrument are not allowed. Through the globally loved MetaTrader 4 trading platform, automated trading is possible. Clients have a choice between MetaTrader 4, a proprietary WebTrader, and app versions of both.

Features of Finq.com

For trading, an extensive range of assets is available, especially individual shares. Almost two thousand shares may get traded that primarily quoted on leading global exchanges chiefly within the U.S.A., Germany, and the U.K.

Traders might execute a trade in ETFs, Forex, Indices, Commodities, and Bonds along with individual entities.

Probably, the Metatrader4 platform will be more suitable for Forex or CFD traders, while the WebTrader platform will be most proper for clients wanting to trade equities, as it is not likely to trade all the instruments allowed by Finq.com through unless platform alone.

Wide ranges of new free trading analysis tools offered, and some of them are proprietary.

Finq.com has fast access to 2,100 assets and immediate bonuses.

With the help of asset trend tools of Finq.com to evaluate how many traders are purchasing and trading in real-time to optimize entry points and control risk according to market sentiment.

finq review

Additional Features

All that said, why would you need to make Finq.com as your primary FX/CFD trading destination?

Well, to begin with, the operation only needs a minimum deposit of $100. For recreational and beginner traders, accessibility is highly essential, and in this regard, Finq.com does indeed deliver.

 In contrast to most of its peers, the broker offers a bonus deal that can be an essential balance-booster for beginners. Regarding this bonus, it needs to be pointed out that some pretty strict rules and regulations tie it.

So it must be ensured that you fully understand those terms and conditions before committing. To a host of useful trading tools, the broker gives its traders access as well as to more than 1,200 tradable assets.

No commissions would be charged on any of the accounts that Finq.com supports. The broker uses the spread exclusively to generate revenues.

Other than the real money account options, a Demo account is also available to those who want to put the platform to the rest even without risking any real money.

According to its official site, as far as the security of trader funds and regulation are concerned, the FSA of Seychelles licensed and regulated the Finq.

The license number is SD007. In agreement with the regulatory requirements, the funds deposited by traders are kept in separate bank accounts, with prestigious financial institutions.

New Levels of Security

Undoubtedly, building trust is important, and to make sure you know that you are protected, Finq.com has made regulations and state-of-the-art technology for you to trade with confidence.

· Tight Regulation for all Operational Jurisdictions

Internal policies and external authorities have covered tight rues for the Finq’s entire operational jurisdiction with yearly auditing in line with high patterns of accounting.

· Safe Systems and Client Protection Online

With the help of innovative platform security, verified payment providers, and in-date, SSL certification has a safe system and online client protection.

· Your Money Segregates into Client Accounts

The money of clients kept safe and secure, away from any company funds. Every time you deposit and withdraw funds, Finq’s certified payment solutions protect your money.

finq review

Education

Besides all these features, Finq has offered an education portion on its site that consists of around 40 video lectures based on essential trading topics.

These lectures also include tutorials on how to use the MetsTrader4 trading platform. Other than that, the site includes an economic calendar as well as a daily market outlook roundup, and an FAQ section is also there on the WebTrader platform.

On the Most Powerful Platform, It Performs the Best Trades

WebTrader comes as the final platform designed for quick execution in a fast trading environment.

Finq has everything expected from a bespoke built platform for you to build and control portfolios from 7 asset classes.

The latest lifestyle motivates mobile trading, and more than 70% of WebTrader clients use the mobile app. You can download it for free, for your daily monitoring and trade execution.

finq review

Bonuses and Promotions

In terms of bonuses and promotions, a 25% bonus is included, and a “refer a friend” bonus is also available.

A likelihood exists in securing a volume-based bonus on the basis of the volume of trades taken. Furthermore, discretionary bonuses also exist, which awarded to favored clients.

Deposits/Withdrawals

It is an easy thing to deposit funds into a Finq.com account.

It is also a secure process. Both of the processes might be made by using different methods, including debit cards, credit cards, bank transfer, Globe Pay, Neteller, FasaPay, and Skrill.

Generally, withdrawals made through the same channel that deposits have been made through. In this Finq review, you will see no charges add of their own to any fees which may be charged by such payment processors.

finq review

Customer Support

In Seychelles, customer support is based. It offers support during business hours by telephone and email.

Finq.com has separate pages that have “WebTrader App FAQ,” which includes WebTrader Desktop app FAQ as well as Mobile app WebTrader FAQ.

In the section of Platforms, Finq has MetaTrader4 for the Mac platform as well.

They understand that lots of traders are not familiar with using MetaTrader4 on Apple computers; it might be required to run the MT4 trading terminal in a “virtual Windows machine” environment.

Finq.com MT4 for Mac terminal is all that you need to experience a native-like enjoy when you install the MetaTrader 4 terminal.

On the page of MetaTrader 4 for Mac, you can see full FAQ regarding Mac and MetaTrader 4.

Pros
  • Up to $4000 deposit bonus!
  • Islamic Accounts
  • Quick withdrawals
  • High Bonus offer
  • High leverage

Cons
  • Spreads, rollovers/swaps, inactivity fees
  • Missing EU regulation at the moment

Final Thoughts

For traders that are looking to trade a very wide range of assets in the form of CFDs, Finq.com has a well-rounded and professional offering.

Ultimately, Finq could be an attractive broker for clients with relatively small deposit sizes who wish to benefit from market maker execution and trade a wide range of individual stocks and shares on a spreads only model.

4.7/5 (3 Reviews)

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