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FinFx -Forex Broker Review

FinFx Broker Review

» Check How FinFx Rating was made

FINFX GENERAL INFORMATION

Found: FinFx was found in 2010

Headquarters: FinFx has offices in Finland

US Residents: FinFx does not accept US traders anymore –No-

Islamic Accounts: FinFx does not provide Islamic Accounts –No-

Regulated: FinFx is not officially regulated as a Forex Broker, but it is controlled by Finnish Authotities (Companies Act, Tax Law and Domestic Commercial Code & Consumer Protection Law). FinFX is currently in the process of getting regulation by Finnish FSA.

Languages: FinFx web-site supports 5 Languages (English, German, Finnish, Spanish, Russian)  

FINFX TRADING INFO SUMMARY

■ Broker Type: ECN / DMA

■ CFD Trading: -No-

Platforms: FinFx Offer 1) MetaTrade4 2) Currensee 3) SignalTrader 4) FIX API Trader

Trading Time Zone: GMT/UTC+0 -Office Hours GMT+2 winter and GMT+3 Summer

■ Demo Account: FinFx is providing a Demo Account Yes-

■ Typical Spread EUR/USD: for ECN Account the spread starts from 0.0 pips plus commission $7 per traded lot / for Micro Accounts, FinFx spread on EUR/USD is 1.6 pips (no commission)

■ Leverage: Leverage at FinFx is up to 1:200

Scalping /Hedging: are allowed at FinFx Yes- (Free VPS for ECN Pro Accounts)

■ Bonus / Rebate: FinFx can offer a Trading Rebate » Contact us for more

■ Minimum Account: $100

Visit FinFx


FULL FOREX ASSET INDEX

FINFX TRADING ASSETS-FinFx is providing 45 Forex Currencies:

FOREX PAIR SWAP -LONG (pips) SWAP -SHORT (pips)
AUDCAD 0.33 -0.67
AUDCHF 0.54 -0.89
AUDJPY 0.53 -0.90
AUDNZD -0.23 -0.26
AUDUSD 0.52 -0.85
CADCHF 1.7 -4.0
CADJPY 0.08 -0.35
CHFJPY -0.09 -0.01
CHFNOK -39.5 17.9
EURAUD -1.28 0.83
EURCAD -0.60 0.23
EURCHF 0.02 -0.15
EURGBP -0.22 0.10
EURHUF -28.9 14.6
EURJPY -0.15 -0.06
EURNOK -43.2 20.5
EURNZD -15.7 7.4
EURRUB -90 20
EURSEK -29.8 14.7
EURTRY -87.0 32.3
EURUSD -0.22 0.02
GBPAUD -1.30 0.74
GBPCAD -0.44 0.20
GBPCHF 0.18 -0.32
GBPJPY 0.05 -0.34
GBPNZD -1.81 0.75
GBPUSD 0.07 -0.23
NZDCAD 2.2 -5.6
NZDCHF 3.7 -7.9
NZDJPY 0.43 -1.00
NZDUSD 0.18 -0.76
TRYJPY 6.1 -16.5
USDCAD -0.43 0.17
USDCHF 0.07 -0.17
USDDKK 1.7 -9.5
USDHUF -20.5 10.4
USDJPY 0.00 -0.15
USDMXN -171.6 64.8
USDNOK -29.6 14.3
USDRUB -70 20
USDSEK -19.5 9.9
USDSGD -0.4 -0.9
USDTRY -46.2 23.0
XAUUSD 0.00 0.00
XAGUSD 0.00 0.00

Note: The SWAP charge may change according to future changes in the level of of interest rates.

SPREADS, COMMISSIONS & LEVERAGE

FINFX TRADING SPREAD & COMMISSIONS

FinFx Spread on EUR/USD is starts from0.0 pips on ECN accounts and from 1.6 pips on Micro accounts

■ ECN Accounts EURUSD spread starts from 0.0 pipsplus commission $7 per traded lot ($100,000) round turn

■ Micro Accounts spread on EUR/USD starts from 1.6 pips and there -No commission charge on Micro accounts

FINFX RADING LEVERAGE

Leverage at FinFx can be up to 1:200

TRADING PLATFORM & MOBILE

FINFX TRADING PLATFORM

FinFx is offering a good variety of Trading Platforms:

Demo account is available at FinFx.

Online Platforms include:

1) FinFx MetaTrader4

2) FinFx Currensee

3) FinFx API

4) FinFx Signal Trader

 Expert Advisors:-Automated Trading, Scalping and Hedging are allowed

-There is also a Free VPS for ECN Pro Accounts

-Very Low slippage for ECN Pro Accounts

FINFX MOBILE TRADING

FinFx offer a mobile version of Metatrader4 for iPhone, iPad, iPod and Android.

MetaTrader 4 Mobile Features

  1. Alerts
  2. 30 Technical Analysis Indicators
  3. All types of Trading Orders
  4. News

► MetaTrader 4 Guide for Android | ► MetaTrader 4 Guide for Apple iOS

NEW ACCOUNT INFORMATION

FinFx Minimum Account:

The minimum initial deposit required for opening an account on FinFx is 100 USD.

Account Currencies: EUR, USD, GBP, CHF

TRADING ACCOUNT TYPES
Here are all the Account Types at FinFx:

 Micro account: 100 USD minimum account size | ■ ECN account: 1,000 USD minimum account size | ECN Pro account: 10,000 USD minimum account size

DEPOSIT FUNDS AT FINFX

FinFx Deposit Methods:

Credit / Debit Cards

Bank Wire

MoneyBookers

FinFx Withdrawal Methods

Credit / Debit Cards

MoneyBookers

Bank Wire

 
-Bank Wire withdrawas fees of $20 | Withdrawals via Bank Wire take 2-5 Business Days.

FINFX TRADING REBATE 
There is no bonus policy but you may get a Trading Rebate » Contact us for more

FINFX NEW ACCOUNT DOCUMENTATION

1) Trading Accounts

These copied documents are required by FinFx

  • Valid passport or ID
  • Address verification (6-month old maximum)
  • Recent bank statement(3-month old maximum)

2) Corporate accounts

These copied documents are required by FinFx:

  • Board (Directors') resolution
  • Document naming all company owners/directors/board members and shareholders
  • Document that proves business ID or local registration number
  • Recent utility bill to verify the company’s address
  • Recent bank document
  • Valid passports of company owners / directors / board members / major shareholders.

FinFx Review Conclusions:

FinFx is a Finnish Forex Broker found in 2010. FinFx execution is pure ECN and it offers a wide Forex Asset Index containing 45 currency pairs. CFD trading is not available. The platforms offered at this broker include MT4 and several automated trading platforms (Currensee, Signal Trader), plus a Fix API Platform and a MT4 mobile trader for all Apple mobile devices and Android. Scalping and Hedging are both allowed while traders may choose also to trade using external signals or even take advantage of PAMM / MAM accounts. In overall this broker is specialized in automated Forex Trading, offering also a free VPS service for ECN Pro Accounts. The minimum account is only $100 but if you want to trade in an ECN account the minimum deposit is 1,000 USD. Micro accounts offer EURUSD spreads from 1.6 pips (no commission) while ECN accounts offer EURUSD spreads starting from 0.0 pips plus $7 per full round traded lot. Full round traded lot means $3.5 for opening and $3.5 for closing a position, so the total sum is $7 per $100,000 trade. Fund methods include bank wire, credit / debit cards plus MoneyBookers. FinFx offers also Segregated Bank Accounts, the segregation audition is done by PWC (Price Water House Coopers).

 

CONTACT INFORMATION

FinFx Trading Oy, Tainionkoskentie 14, 55100 Imatra, FINLAND -Business ID: 2306687-0
■ Customer Service: mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. , Tel: +358 10 281 0100
■ Back Office: Tel: +358 10 281 0101
■ Institutional Clients: mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. , Tel: +358 10 281 0102, Fax: +358 98 565 7168
■ Marketing: E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it. , Tel: +358 10 281 0100

FINFX REVIEW PROS & CONS (According to competition)

FINFX REVIEW CONCLUSIONS

FINFX PROS

FINFX CONS

√ ECN Trading starts from 0 spreads (Commission $7 per lot)

/ 45 Forex Currencies

√ Low trading cost for ECN Accounts (spreads & commissions)

√ Segregated Bank Accounts

√ Automated Trading and Scalping

√ Free VPS Service for ECN Accounts

√ PAMM / MAM Accounts

√ Mobile Trading for all iOs (Apple) Devices and Android

X Not Regulated as a Forex Broker

X Withdrawal Fees

X Only Forex Assets (no CFDs)

 

Visit FinFx Broker

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