Finq.com HeadlinesTrading PlatformAssets & MarketsSpreads & CommissionLeverageMobile AppFinq.com Payment MethodsDemo AccountBonusesRegulation & LicensingRecommended Alternatives To Finq.comAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportSecurityFinq.com VerdictAccepted CountriesAlternatives to Finq.comFAQ
Finq.com is a regulated broker offering CFDs, commodities, and forex trading through an advanced investing platform and app. With tight spreads, a large range of assets, and a minimum deposit of $100, Finq is growing quickly, particularly in India, Australia, and South Africa. The brand also offers a range of account types and a trading volume bonus. Read on to find out more…
Finq.com Headlines
Finq is a web-based forex and CFD brokerage launched in 2017. Its headquarters are in the Seychelles and the company is regulated by the Seychelles Financial Services Authority.
The platform offers clients the opportunity to trade a diverse selection of instruments primarily wrapped as CFDs, with over 2,100 tradeable assets and almost as many individual shares. The brand also provides access to 55 currency pairs and an unusually large selection of commodities and 28 major international equity indices.
Trading Platform
The MetaTrader 4 platform is best suited to forex and CFD traders while the WebTrader solution will be a better fit for clients trading equities. Importantly, it is not possible to trade every instrument through either one of the platforms on their own.
MetaTrader 4 is an independent platform developed for trading commodities and FX, among other assets. It is user-friendly and the gold standard among retail trading platforms.
The terminal provides a multilingual interface, built-in help guides, instant execution, and a comprehensive technical analysis package. It also offers automated trading, with the ability to test strategies using MetaEditor, Strategy Tester and Compiler.
MetaTrader 4
Alternatively, WebTrader functions as an advanced, fully customizable trading suite that doesn’t require any computer software installation. It harnesses cutting-edge web technologies to provide secure access to your account. It also features independent spreads that are frequently lower than other platforms and incorporates some interesting tools like the ‘Events & Trade’ function to pinpoint the movement of instruments from the economic calendar.
Assets & Markets
An impressive range of assets can be traded, particularly with regard to individual shares. Close to 2,000 stocks can be speculated upon, primarily equities quoted on leading global exchanges like the UK, USA, and Germany. Users also have the opportunity to trade forex, commodities, indices, bonds, cryptocurrency and ETFs.
Spreads & Commission
The broker offers fixed spreads in every type of account, including 1.9 pips on major forex pairs like the EUR/USD. An inactivity fee applies to accounts that haven’t been used in oner one year; this costs $1. Finq also has an overnight toll, known as a swap fee, when investors hold assets overnight. Note, this won’t affect day traders if they close their positions during market hours.
There are no fees or commissions on deposits or withdrawals. However, your bank might decide to charge you when you transfer funds.
Leverage
The leverage offered by the broker varies from 1:30 up to a maximum of 1:300, depending on your experience level and market, for example forex. The risk increases with higher rates so newer traders may prefer to stick with lower leverage levels to start with.
Mobile App
If you aren’t able to sit in front of a computer for hours every day and your schedule involves long commutes or time outside the office, Finq.com has a polished and user-friendly application. You can download it from the App store on iOS devices and the Google Play store for Android. The platform has good user reviews on both stores.
Finq.com Payment Methods
It is simple and secure to deposit funds into your Finq.com account. Both deposits and withdrawals can be made via a few different methods, including debit/credit cards, bank transfers, Neteller, FasaPay, and Skrill. You will generally make withdrawals through the same channel you make deposits. The minimum deposit and withdrawal is $100.
Demo Account
You can create a demo account with Finq when you first sign up, giving you access to a $10,000 virtual money simulation after entering initial registration details.
The account currencies you can try are USD, RUB, and ZAR. This is what the introductory wizard walks you through, after which you are free to experience simulated markets in more depth.
Bonuses
Finq.com offers several promotions:
‘Refer a Friend’ Bonus – offers investors an extra 20% of their friend’s deposit and can climb as high as 400 USD/EUR/GBP.
Pending Bonus – You can also secure a volume-based bonus. The more you trade, the more points you accumulate.
First-Time Deposit Bonus – available to new traders. It ranges from 16% to 30%, depending on the amount deposited. You may withdraw it only after reaching the required trading volume ($20,000 in volume for each dollar of bonus) within 30 days.
Regulation & Licensing
Finq is not as strong as some of its competitors in terms of regulation. This is because it only holds a license with the FSA in Seychelles, which is not one of the most reputable regulators. There are no strict rules and criteria that must be met to obtain a license from them, which may be a red flag for some investors. And while this should not alone lead you to conclude that Finq.com is a scam broker, you should be aware that regulatory protections are limited.
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Additional Features
Finq.com includes an extensive education section on its site, which features many video lectures that cover important trading topics in the form of an academy. There is a particularly useful tutorial on using the MetaTrader 4 platform. You can also find an economic calendar, weekly CFD expiration dates, plus a substantial FAQ section for the WebTrader platform.
Account Types
Finq.com offers an account variation for different types of traders. The broker offers six accounts in total, all of which have:
Events & trading
Desktop & mobile trading
24 hour customer service
Dedicated account manager
Daily Analysis & Morning Review – useful for research
Silver
Spreads starting at 0.6
$100 minimum deposit
0.20% commission on shares
Gold
Trading Central
Spreads starting at 0.5
Premium daily analysis
$10,000 minimum deposit
0.16% commission on shares
Platinum
Trading Central
Spreads starting at 0.4
Premium daily analysis
$50,000 minimum deposit
Superior customer support
0.12% commission on shares
Exclusive
Trading Central
Spreads starting at 0.3
Premium daily analysis
$100,000 minimum deposit
Superior customer support
0.08% commission on shares
Classic ECN
Spreads starting at 0.4
$1,000 minimum deposit
0.16% commission on shares
Pro ECN
Trading Central
Premium daily analysis
Spreads starting at 0.15
$50,000 minimum deposit
Superior customer support
0.08% commission on shares
Finq also offers an Islamic swap-free account for their clients.
Benefits
The strengths of this broker include:
Outstanding market coverage, with a huge range of assets
Accessible, user-friendly platform with good support and education for traders of all levels
Impressive trading conditions on many supported asset classes, including low spreads and high leverage
Drawbacks
The downside of Finq.com may be enough to put many investors off signing up for an account:
No MetaTrader 5 platform
Less-than-convincing licensing in the Seychelles
Trading Hours
The 2,100+ assets span 24/5 to accommodate the trading hours of the relevant global exchanges and markets. There is also weekend trading on a number of assets.
Customer Support
Customer support can be accessed by email or WhatsApp during market hours Monday to Sunday. Support is available in English. Contact details can be found on the official website.
Finq’s address is Suite 3, Global Village Jivan’s Complex, Mont Fleuri Mahe, Seychelles.
Security
Finq.com employs extra security with client funds kept separately in top global banks. All payment methods ensure deposit and withdrawal processes use reliable, vetted technology and third parties. All personal data is kept safe and confidential at all times.
Finq.com Verdict
Finq.com offers a well-rounded brokerage for investors who wish to trade a diverse range of assets in CFD form through a market-maker execution model. It is particularly useful for individual stocks and shares, plus ETFs. However, users should proceed with caution as the broker’s financial credentials are not regulated by the most reliable of authorities. This means there is an element of risk that will deter some traders.
Accepted Countries
Finq.com accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Finq.com from Germany, France, Norway, Sweden, Italy, Denmark, Belgium, United States, Canada, Australia, Saudi Arabia.
Alternatives to Finq.com
If you are looking for alternatives to Finq.com we have compiled a list of the top 5 brokers that are similar to Finq.com below. This list of brokers like Finq.com is in order of similarity and only includes companies that accept traders from your location.
Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
Hantec Markets – Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing flexibility to suit any trader.
FAQ
Is Finq Regulated?
Finq.com is run by Dilna Investments Ltd, which is also the website’s primary payment processor. Dilna Investments Ltd is working on behalf of its parent business, Leadcapital Corp Ltd, which the Seychelles Financial Services Authority classes as a Securities Dealer.
What Is The Finq Commission For Forex And Metals?
The broker charges only the ECN accounts a fee of $8 per lot. All other accounts can trade these assets commission-free.
Can I Trade On Finq From Qatar?
Yes, the broker is available in Qatar alongside many other countries. See the broker’s website for a list of accepted and restricted countries.
Does Finq Have A Professional Account?
Finq offers a Pro ECN and an Exclusive account. However, they are not the same as other brokers’ traditional professional accounts. See our accounts section above for more details.
Can You Trade Crypto On Finq?
Cryptocurrencies are a subcategory of foreign currencies on the WebTrader platform, with the primary instruments being Bitcoin, Ethereum, Litecoin, and Dash. Spreads vary from 0.8 to 80 USD, and leverage is available from 1:2.
Can You Still Trade On Finq.com?
Finq.com says the following “We do not establish accounts to residents of certain jurisdictions including the European Union, United States or any particular country or jurisdiction where such distribution or use would be contrary to local law or regulation.”