Finq.com is a CFD trading platform that offers a wide range of assets within the CFD category. Finq.com has made a name for itself by offering more than 2,100 CFD assets with which to trade, including bonds, indices, Forex, ETFs, commodities, and stocks. Finq.com doesn’t charge commission, and its customer support is available twenty-four hours a day, five days a week.
CFD trading is risky.
Finq’s motto is, “Think Trading. Think Finance,” and it lives up to it by offering a lot of research and educational tools. This broker is relatively new, compared to some of the larger trading platforms out there, but it packs a punch and is already quite a competitor. Finq has signed up millions of traders already. In addition to zero commission, you can also get up to $4,000 in welcome bonuses. Below are the “pros” and “cons” of Finq.
Pros and 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)
- No EU or American Traders
Recommended For
Judging from the reviews on the Finq website, this site is recommended for new and professional traders. There are a lot of educational tools that will teach you how to trade from the ground up. CFDs trading itself is not for inexperienced traders, so it is likely rare that a total novice shows up on Finq’s doorstep. However, it’s refreshing to know that this broker will, as one new trader said, “guide [you] on how to trade.”
Regulated By
- Financial Services Authority (Seychelles)
Account Types
There are four Finq account types: silver, gold, platinum, and exclusive. Silver accounts are the standard accounts, offering daily analysis, desktop/mobile trading, 24-hour customer service, and educational tools. A silver account holder deposits $100. Gold account holders deposit $10,000, and they get all the silver features, plus premium customer support.
Platinum account holders deposit $50,000, and they get everything in the gold account, plus premium customer support. Exclusive account holders deposit $100,000, and they get everything in platinum, plus the best spreads. Overall, the higher-level your account, the better your spreads.
Trading Platforms
- MetaTrader4 By MetaQuotes Software Corp.
Trading and Investment Tools
- One Click Trading: Yes
- Trade off Charts: Yes
- Email Alerts: Yes
- Mobile Alerts: Yes
- Stop Order: Yes
- Market Order: Yes
- Trailing Stop Order: Yes
- OCO Orders: Yes
- Limit Order: Yes
- 24hr Trading: Yes
- Charting Package: No
- Streaming News Feed: No
Compliance & Regulation
Finq.com is actually a subsidiary of a company called Leadcapital Corp., which itself is part of Trade Capital Holding. Finq is based in Mont Fleuri Mahe in the Seychelles, and, therefore, it is the Seychelles government that regulates this broker. Finq’s registration number is No. SD007. On the Finq “Regulation” page, you can click the hyperlinks to see a detailed list of its terms, conditions, and policies.
Fees & Commissions
- Rollover Fee: No
- Margin Interest: Yes
- Depositing Fees: No
Pricing
As mentioned, Finq charges no commissions fees. Instead, it makes its money on the Bid/Ask Spread. You can calculate the Bid/Ask Spread by finding the difference in prices quote for an immediate sale of an asset and the immediate purchase of the asset. Essentially, it is the difference between the lowest price a seller for which a seller will sell and the highest price a buyer will pay.
Service Details
- Supported Languages: Arabic, English, Indonesian, Malay, Urdu, Vietnamese
- Customer Service By: Phone, Chat, Email
- Customer Service Hours: 24/5
- Telephone Orders: No
- Personal Account Manager: Yes
User Experience
When it comes to judging the user experience and reliability of Finq.com, you can look to aggregated review sites that take customer reviews and turn them into a ratings system (usually out of five stars). TrustPilot ranked Finq a 3.3/5. ForexPeaceArmy.com a 2.4/5, TradingBrokers.com a 2.4/5, and DailyForex.com a 4.4/5.
Final Thoughts
Overall, this broker is a new, yet well-rounded. Anyone looking to change up their trading routine and switch to a new broker would do well to try out Finq’s demo account. Those who are fond of the MetaTrader 4 will like that this tried-and-true downloable client is available for Mac and mobile users, and customers who want daily analysis and updates will also be pleased with this broker.
Trading Platform Screenshots
Contact Info
Leadcapital Corp Ltd Suite 3, Global Village – Jivan’s Complex, Mont Fleuri Mahe, Seychelles
FAQs
Q: What deposit/withdrawal methods can I use?
A: Methods include MasterCard, Maestro, Visa, Visa Electron, Skrill, Neteller, and fasapay. You can also use bank wire transfer.
Q: When will Americans/EU members get to join?
A: It depends on the governments of the individual countries. If permitted by the government, Finq will allow EU and American traders. Until then, there is no possible way for these countries’ citizens to join the brokerage.
Q: How long do deposits and withdrawals take?
A: Deposit and withdrawal times vary, based on the method you use. Expect non-bank-wire transfers to take two to five business days, while bank wire transfers can take up to ten business days.
App Store
Google Play