Independent Review – Fundiza
https://fundiza.com/ Founded in 2019 Headquarters in St. Vincent & the Grenadines Open Live Account BEGIN item ContentsIntroQuick LookRegulationsAccount typesFeesTrading PlatformsAssetsRisk ManagementEducationSupportRating
Introduction and Comments
Website: https://fundiza.com
Fundiza.com is a trading website owned and operated by FUNDIZA Ltd., with registration number 25770BC2020, and with registered address at Victoria Park Road, Kingstown, St. Vincent & Grenadines, Kingstown P.O. Box 4457.
While the broker is very new to the market, having just launched in 2019, they are rapidly gaining customers, popularity, and a positive reputation as a transparent online broker.
The Fundiza.com website will strike new users as quite different from the traditional online broker. The homepage has no flashing banners, no scrolling market news or tickers, and no promotion at all. Instead it presents visitors with a statement about the broker, including registration, licensing and its physical address. That’s followed by a risk warning. And at the bottom of the very short page prospective clients will find links to all the policies and legal documents.
Terms & ConditionsOrder Execution PolicyAML/KYC PolicyComplaints & Dispute Resolution PolicyRefund PolicyPrivacy PolicyConflict of InterestsRisk Disclosure
This transparent and open approach is a breath of fresh air in an industry where brokers will often bury any information related to their own liability. It is one reason for the growing positive reputation of Fundiza and has helped them forge a bond of trust with their clients.
It’s this open and transparent approach that gave the first positive feelings about the broker, but there was more here to recommend them to prospective traders.
Quick Look at Fundiza
As part of our research process we would typically set up a demo account with the broker to test the speed and performance on the web-based and mobile trading platforms. Fundiza does not offer a demo account option, and the minimum deposit for their rookie account is $5,000.
That aside, the website itself is very well laid out, providing clear and easily accessible information about the broker, what they offer, how they can assist clients, and about the platform they provide for trading.
The fact that they’re using the MetaTrader 5 platform shows their commitment to their clients, as well as a technologically advanced mindset. Our experience with the MT5 platform has always been good, so it’s easy to presume the same is true at this broker.
While beginning traders could certainly do well here based on the tools offered, the high minimum investment required makes the broker seem more suitable to intermediate and advanced traders. Let’s take a deeper look and see if that’s true, or if it would be worthwhile for beginners to pull together the necessary capital to meet the minimum deposit requirements.
Regulations & Licenses
Fundiza is registered and licensed in St. Vincent & Grenadines by the Financial Services Authority (FSA) under registration number 25770BC2020. They are very clear on the website about their services offerings under their license with the statement:
“Fundiza does not offer its services to residents and/or citizens of certain jurisdictions such as USA, Iran, Syria and North Korea. It is your own responsibility as our client to act according to your jurisdiction and to make sure that the said activity is allowed in your country. The company will not be responsible in case your jurisdiction does not comply with the offered activity.”
Languages Offered
The FUNDIZA trading platform and website is offered globally, with only several jurisdictions such as the United States, Iran, North Korea, and Syria specifically excluded from the services. Traders in other jurisdictions should be aware of the laws in their own countries that govern the trading of financial assets. The website and support for the service is only offered by Fundiza in English.
Account types
Fundiza has a number of account levels based on the amount a client deposits. Each level has increasing benefits as highlighted below:
Level 1: Rookie
The lowest account level available. Even at this level the minimum deposit is $5,000. Trades must be a minimum of 0.01 lots with this account, and it comes with an account manager and 24-hour dedicated support. In addition, it features the award-winning MetaTrader 5 trading platform, which has desktop, web-based, and mobile versions.
Level 2: Basic
The Basic level requires a minimum deposit of $25,000 and comes with the same features as the Rookie account, based on the information available from the website. One benefit of the Basic account is the ability to trade far more assets.
Level 3: Premier
The Premier account doubles the minimum deposit to $50,000 and it adds an additional economic news feed to the features. It would be interesting to see what’s included in that news feed to see if it justifies the much larger minimum deposit.
Level 4: Elite
The next level up doubles the minimum deposit once again to $100,000, which seems quite high compared with other online brokers. At this level clients get all the features previously mentioned, plus fixed spreads and access to technical analysis of the markets.
Level 5: Elite Plus
The Elite Plus account comes with a minimum deposit of $250,000 and all the same features as the Elite level account.
Level 6: VIP
This is the top level, and with a minimum deposit of $1 million it’s for the ultra-wealthy, or for professional traders. It comes with all the previous features and as a VIP you’ll receive any and all help you might need from Fundiza.
Demo Account
Fundiza does not offer a demo account at the time of writing this review.
Fees, Costs & Spreads
Fundiza claims to offer fair pricing with some of the best spreads in the industry. Indeed some of the major forex pairs boast spreads as low as 0.1 pips, although you won’t always get spreads that low. The average spread on major forex pairs is more like 0.3 pips, which is still extremely competitive.
Client costs obviously begin with the initial deposit, and as we’ve already pointed out these are quite high, ranging from $5,000 for the Rookie account level all the way up to $1 million or more for a VIP account with this broker. Spreads are variable up to deposits of $99,999, but for accounts with deposits of $100,000 or more fixed spreads are offered.
We were unable to locate any schedule of fees or costs on the website. The terms and conditions do state that there are no deposit or withdrawal fees imposed by Fundiza, which is good.
However within the T&Cs that indicate commission charges and other fees. Those paragraphs are as follows:
“For unimplemented or uncompleted shares in trading process or reserved shares/contracts, the equivalent percentage amount from 1% to 5% (depending on the leverage of the trading asset) will be deducted from the Client’s trading account. The Client acknowledges and accepts that the Company can close an existing trade in split lots and/or volumes to compensate or reduce the floating loss from the total floating profit or variable profit.”“The Client acknowledges and agrees to pay commissions to third parties that help initiate and maintain a business relationship between the Company and its constituents. This includes rebates, commissions, spreads, and profit sharing. The Company may also impose a 4% annual interest rate excluding daily interest rate as determined according to the status of the trading account.”“For inactivity, there will be some fees to be paid. The Client will be reminded of the inactivity and will be informed of the fee via email prior to the actual deadline.”
There is also a line which states the minimum account balance for an active account is $100. If the account balance falls below that amount the account is frozen. It doesn’t state that the funds are held by the broker, so we presume the client is able to make additional deposits to bring the account balance back above $100 and re-activate the account.
Deposits & Withdrawals
As mentioned above there are no deposit fees and no withdrawal fees imposed by Fundiza. That doesn’t mean third-party providers might not impose their own fees.
In the case of both withdrawals and deposits the brokers accepts bank transfers, credit and debit cards, and electronic payment channels such as Skrill and Neteller.
Bank transfers take 1 business day to process in the case of deposits, while withdrawals can take from 3-5 business days. That doesn’t include any delays on the part of the client bank. Also note that Fundiza keeps a list of approved banks and will only accept deposits from those banks on their approved list.
Credit card and debit card deposits are available within minutes, and withdrawals take 1 business day or less.
In all cases you can only deposit from and withdraw to an account that is in your name.
Trading Platforms
Fundiza provides traders with the award winning MetaTrader 5 platform, which is well-known for its excellent charting capabilities. Clients can choose from the desktop version of the MT5 platform, or from the mobile platform, which is available for both Android and iOS operating systems.
Desktop Platform
The MetaTrader 5 platform is all-inclusive, giving clients the ability to trade currencies, equities, indices, and commodities all in one platform. The institutional grade multi-asset platform is not only broad in the assets it accommodates, it is also one of the best, if not the best, technical charting platform available for free.
Traders using the MT5 platform will discover a new understanding of the markets, and will have in-depth data regarding the past history of asset prices, and the potential future direction it might take. All of this is possible thanks to the wide array of technical analysis tools built right into the MT5 platform.
In addition to having a deeper knowledge of price history, traders can also take advantage of market depth data provided through MT5.
MT5 Mobile App
The MT5 mobile app allows clients to take their trading on the road, away from their desk, giving a new meaning to freedom of trading. Available for both Android and iOS devices, the mobile MT5 platform is every bit as powerful as the desktop version, but loads that power right into smartphones and tablets for trading anywhere, at any time.
With more platforms to trade from clients can access the markets 24/5 and avoid missing any price moves.
Assets Available
Traders who appreciate a wide number of assets to trade at any time will be pleased with the offerings at Fundiza. Forex is one of the strengths at Fundiza, and clients will have access to trade major, minor, and exotic forex pairs on the MT5 platform. In addition, the platform also has gold, silver, and other precious metals, which can help in portfolio diversification and in protecting from unusual market events. Commodities are also represented, such as crude oil, sugar, corn, and wheat. Plus traders can take advantage of over 300 different shares and more than 40 major indices.
In addition, traders can take advantage of leverage up to 400:1, although it isn’t recommended to use such large leverage unless knowledge of the market is at expert levels.
Order Types
Traders can choose from four types of orders: limit orders, market orders, stop loss orders, and trailing stop orders. Orders can be changed or cancelled at any time before they are filled.
Notification and Alerts
MetaTrader 5 has alerts and notifications built in, so it’s never necessary to miss any good trade setups. The trader can specify what conditions need to be met for an alert to trigger, and the notification is sent out immediately. It’s also possible to create a push that sends the alert to a smartphone. With Metatrader 5 and Fundiza every good trade setup can be taken advantage of.
Risk Management Tools
As mentioned above there are a wide variety of alerts that can be set on any of the assets offered by Fundiza, and these can serve to help limit risk. In addition to the alerts, which will not close orders for you, there are a couple of order types that will close open orders if they reach your chosen levels. These are stop loss orders, and trailing stop orders. Both are valuable risk management tools for any trader to utilize.
Trading Tools and Analysis
The technical analysis tools provided with the MT5 platform are excellent. They are some of the best in the business in fact. So that will give entry level traders some basic analysis. Once a client reaches the Premier account level they will also receive the proprietary Fundiza economic news feed, giving them additional data for their trading analysis. And those who reach the Elite level and above also get access to the technical analysis provided by the broker.
Education and Training
As far as we could tell from the website there is no education or training available at Fundiza unless the dedicated account managers are also providing their clients with trading education. The good news is there are plenty of online sites, forums, and groups where you can get education regarding any of the markets offered at Fundiza, or training in either fundamental or technical analysis.
Customer Support
Customer service is available to help with any issues 24/5 (there is no weekend trading or support). The support team can be reached via email, phone, or through online chat. The only supported language is English so far, but since the broker is so new that could change. Fundiza claims they have the best in-house customer support staff, and they certainly seemed knowledgeable and professional when we contacted them with some basic questions about the platform and banking processes.
Independent Opinion & Rating
Fundiza isn’t well-known yet, but they are gaining a good reputation rapidly thanks to their transparent and open approach to the business of being a broker. Online reports about the broker have been positive, and our own tests agree with that.
The large minimum deposit requirements are somewhat discouraging, but we believe that Fundiza chose this route to keep a smaller client base so that they could serve them even better. Rather than going for every single person out there who wants to trade, this broker is focused on those who have experience trading, have the capital to trade successfully, and hopefully come with some existing trading knowledge.
Speaking of trading experience, the broad array of currencies, commodities, and equities means whatever market experience a trader might have, they can make use of it. And with the low spreads on offer they can squeeze out every pip of profitability.
Safety, security, reliability, and the award winning MetaTrader 5 platform all combine to make Fundiza an excellent choice for traders of all experience levels. While the minimum deposit seems high for beginning traders, it might be worth it to become knowledgeable enough before risking any money.
With all of these things, plus a long list of outstanding features, and an increasingly strong reputation, Finance Magnates can feel confident giving this broker a green light.
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