Finveo HeadlinesAssetsFeesPayment MethodsTrading PlatformsSocial TradingAccount TypesDemo AccountPromotionsRegulation & LicensingMobile AppsCustomer SupportEducation & AnalysisProsConsFinveo VerdictAccepted CountriesAlternatives to FinveoFAQ
Finding a broker that is best for you can be a difficult task as there are so many to choose from, each claiming to be the best, cheapest and most user-friendly. Finveo MN, a broker based in Montenegro, is one such option. This 2022 Finveo review will outline key details about the firm’s services and explore the trading platforms, assets and conditions on offer.
Finveo Headlines
Finveo is a broker with a global customer base that has headquarters in Podgorica, Montenegro. It was launched in 2018 as Finveo Limited in the UK by INVEO Investment Holding, a Financial Services company based in Istanbul, Turkey. It is regulated by the Capital Market Authority of Montenegro is a member of the Montenegrin Foreign Investors Council under the name of Finveo JSC.
Assets
Forex: 60+ major, minor and exotic currency pairs
CFDs: Contracts on global equity indices, cryptos and stocks
Commodities: Over 60 assets, such as precious metals and oil
Fees
Finveo’s revenue mainly comes from the spreads, which are linked to the account tier of its clients. The Standard account has a minimum spread of 2.0 pips, which is quite high compared to other platforms. However, spreads can get much lower for the Platinum account or even raw for the ECN Pro account.
While Finveo does not charge commission for Standard, Gold and Platinum accounts, there is a charge of USD 10 per lot on the ECN Pro accounts.
Finally, there is no dormancy fee. Instead, accounts with no funds deposited and no activity for over three months are disabled. If you wish to reactivate your account, you must contact Finveo support.
Payment Methods
Finveo accepts a range of payment options for deposits and withdrawals. All deposits must be made in USD and the minimum limit is $100 for Standard accounts. Accepted methods are:
Wire Transfers
Credit Cards
Debit Cards
Menapay
Neteller
Skrill
Trading Platforms
MetaTrader 4
Finveo uses MetaTrader 4, which is one of the most popular forex trading platforms in the world, available for download on both Windows and macOS computers. Some of the main MT4 features include:
39 languages
Trading signals
Nine timeframes
One-click trading
30 built-in indicators
Four pending order types
Fully customisable charts & tools
Thousands of custom indicators online
Algorithmic trading through MQL4 (order-based system)
MetaTrader 4 Platform
MetaTrader 5
Finveo customers also have access to the MetaTrader 5 platform, which is the later iteration by MetaQuotes. Rather than being an updated version of the MT4, it is a platform designed with more experienced traders in mind and has a focus on commodities and CFDs. The MT5 platform boasts the following features:
39 languages
21 timeframes
Trading signals
One-click trading
38 built-in indicators
Six pending order types
Fully customisable charts & tools
Thousands of custom indicators online
Algorithmic trading through MQL5 (positional system)
MetaTrader 5 Platform
Social Trading
If Finveo customers wish, they are able to follow successful traders using the ZuluTrade social trading platform. On ZuluTrade, there is a sorting algorithm that creates a performance ranking of all members that anyone can see. When choosing from the other clients to follow, you can see the number of trades they have made, the amount of time they have been active for, their win percentage and their return on investment.
ZuluTrade Platform
Account Types
Individual
Finveo offers its customers four different types of trading accounts.
Standard
Equity threshold for lower leverage $5,000
No minimum monthly volume
Minimum trade 0.01 lots
Minimum deposit $100
Maximum trade 5 lots
Leverage up to 1:500
Spreads from 2 pips
No commissions
Margin call 50%
Stop out 25%
Gold
Equity threshold for lower leverage $10,000
Minimum monthly volume 10 lots
Minimum deposit $1,000
Minimum trade 0.01 lots
Maximum trade 20 lots
Spreads from 1.2 pips
Leverage up to 1:400
No commissions
Margin call 50%
Stop out 25%
Platinum
No equity threshold for lower leverage
Minimum monthly volume 50 lots
Minimum deposit $5,000
Minimum trade 0.01 lots
Maximum trade 50 lots
Spreads from 0.8 pips
Leverage up to 1:200
Margin call 100%
No commissions
Stop out 50%
ECN Pro
No equity threshold for lower leverage
Minimum monthly volume 1,000 lots
Minimum deposit $5,000
Commissions $10 per lot
Minimum trade 0.1 lots
Maximum trade 50 lots
Leverage up to 1:200
Margin call 100%
Stop out 50%
Raw spreads
Corporate & Institutional
Finveo also offers accounts to institutions and professional traders. These are high-quality services that come with special tools, customisable platforms and flexible trading conditions to ensure trading styles are accommodated and investments are best protected.
Demo Account
Finveo offers all users a free demo account, which is a great place to practise trading on its platforms, explore its assets and test out new ideas and approaches. The accounts are funded with $100,000 in digital capital and can access leverage rates up to 1:100.
Promotions
First Deposit Bonus
Finveo will match any first deposit and give it to you as a bonus. For example, if you were to deposit $100, Finveo would give you another $100 to trade with. In order to claim this bonus, you simply have to sign up by completing a registration form and sending the appropriate documents. To receive the bonus, you would have to be within the undisclosed number of clients to sign up and trade 1 lot turn for every $10 bonus.
Swap-Free
Finveo has introduced a deal whereby forex and CFD traders can avoid paying or receiving overnight fees on the MT4 platform. To claim this benefit, you just need to send a request for a swap-free account when you register.
Giveaway Bonus
Almost like a referral system, this bonus can be acquired by following the Finveo Instagram account, direct messaging them information like your name, phone number and email and then tagging three friends in a comment on one of their posts. Finveo will then select five lucky customers to receive $100.
Regulation & Licensing
Finveo is regulated by the Capital Market Authority of Montenegro under the license number 03/2-2/11-20, which is a member of the International Organisation of Securities Commissions (IOSCO). Furthermore, Finveo complies with the rules set out by the European Securities and Market Authority regarding the safety and security of customer funds and accounts. This means you can rest assured that the funds in your account are protected. The LEI code can be found under the name Finveo Ad Podgorica.
Mobile Apps
All three software platforms offered by Finveo, MT4, MT5 and ZuluTrade, are also available via mobile applications. The platforms can be downloaded for iOS devices via the Apple App Store and Android (APK) devices via the Google Play Store.
The MetaTrader 4 mobile app comes with three chart types, nine timeframes, 30 technical indicators, market news and a chatbox, plus full account management functionality. The MT5 application builds on this, with six order types, level 2 price data, 30 indicators, 24 analytical tools, news updates and push notifications.
ZuluTrade Mobile Platform
Customer Support
The Finveo customer service team can be contacted via the live chat window on the website, which is available 24 hours a day, except on weekends. Alternatively, you can submit an email ticket through the online form or you can call or WhatsApp the team at the number below.
Phone Number: +382 20 436 690
Finveo is also active and available for contact on social media, with accounts on Twitter, Facebook, Instagram, linkedIn, YouTube and Telegram. These platforms can also be used to keep up with news and announcements.
Education & Analysis
Finveo has created a training library with many educational resources to teach clients and readers about financial instruments and markets. This is a useful tool for both beginners and more advanced traders that this review recommends taking advantage of. The content is free and accessible to all, without the need to login to an account. Furthermore, there is a daily technical analysis page, where you can see insights and market trends on forex, commodities and indices, all of which are great for garnering more tips and information to construct your own strategies and execute trades.
Pros
No inactivity fee
Both MT4 & MT5
ECN execution account
Several promotional offers
Competitive leverage rates
Range of payment methods
Social trading through ZuluTrade
Cons
Large spreads
Not regulated by a top-tier agency
Finveo Verdict
Finveo is a relatively new broker that offers many different instruments and markets to trade in. The use of the world-leading MetaTrader 4 and 5 platforms, plus the firm’s massive educational library, make it an attractive offer. Moreover, there is the opportunity for social trading through the popular ZuluTrade platform and experienced clients can open an ECN Pro account. However, the spreads offered on the lower account levels are not particularly competitive and the regulation is not brilliant.
Accepted Countries
Finveo accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Alternatives to Finveo
If you are looking for alternatives to Finveo we have compiled a list of the top 5 brokers that are similar to Finveo below. This list of brokers like Finveo is in order of similarity and only includes companies that accept traders from your location.
Pacific Union – Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.
OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Admiral Markets – Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
FAQ
Can USA-Based Customers Register With Finveo?
Customers based in the US mainland, Alaska and Hawaii may not join Finveo. Only those in the US Minor Outlying Island and the US Virgin Islands may join.
Is Finveo Legit?
Yes, it is regulated by the Capital Market Authority of Montenegro. Additionally, Finveo follows the rules and regulations laid out by the European Securities and Market Authority (ESMA). This means that the firm has taken certain precautions to protect deposits and customers against fraud.
What Is Social Trading On Finveo?
Social trading is where you can follow the performance and success of other traders. It can be a helpful way to learn about the different strategies that other people use and adapt your own accordingly to help boost your profits. Finveo’s customers can use the social trading platform, ZuluTrade.
What Assets Does Finveo Offer?
Finveo supports trading on forex, commodities, cryptos, indices and equities, both spot and CFD, through MT4 and MT5. In total, clients can access more than 150 financial instruments, though a full list is not provided by the broker.
Is Finveo Regulated?
Yes, Finveo is regulated by the Capital Market Authority of Montenegro, which is a member of the International Organisation of Securities Commissions. However, the CME is not a renowned, top-tier agency, so this review recommends that care be taken by all clients.