If you need a forex broker that offers a commission-free account, consider Finexo. It gives you the opportunity of trading in micro lots. Learn more about this forex broker.
Who is behind the broker?
SafeCap Investments Limited established this broker in 2003. For the 16 years that this broker has been in operation, it has managed to provide clients with favorable trading conditions. CySEC has regulated and licensed Finexo. The broker has its headquarters in Cyprus.
The founder aims at providing you with secure platforms. They therefore make use of encrypted security to make clients feel safe trading with the broker. You can trade in more than 45 currency pairs as well as CFDs on commodities, bonds, indices, and stocks.
What trading platforms are available and supported?
Unlike many brokers that have limited platforms, Finexo lets you trade from Sirix Web Trader and Meta Trader 4. Most traders prefer the MT4 platform due to its diverse features and tools. You will also like the Web Trader since it contains charting tools and analysis indicators. It is also easy to use. You can access these platforms from your mobile phone or computer.
What types of accounts are available?
You can open accounts such as the standard, mini or VIP account. Each type has unique features and different deposit amounts. There is also a demo account for new traders to gain crucial skills before using real money.
Spreads, Leverage, and commission
Finexo has above average spreads that amount to 3 pips for every pair of EUR/USD. They offer leverage of 1:200 and don’t charge clients any commission. The broker also provides free trading signals and a no-deposit bonus.
Deposit and withdrawal options
Unfortunately, the broker offers limited modes of payment. You can deposit or withdraw your funds via bank wire transfer, e-wallets or debit/credit cards. The initial deposit amount is also high since you must deposit at least $ 1000 to open an account.
Finexo offers unmatched customer support since it seeks to fulfill the needs of every customer. The broker provides 24-hour support through different options such as a phone line, email and a live chat facility. You can also receive their services through different languages such as Spanish, Italian, English, Arabic, and Turkish.
- Good reputation
Finexo is an old broker that has existed for more than one decade. Its good reputation has made it expand and attract a lot of traders. It provides clients with professional trading experience, and the many positive reviews can attest to this.
- Offers different platforms
The broker provides you with two platforms that have numerous features to trade. You can trade from the convenience of your mobile phone. The platforms are not customizable, but they contain all the necessary tools to simplify trade.
- Complicated withdrawal process
Though it is easy to open an account with the broker, withdrawing funds involves a long and complicated process. This may be a drawback when you are in a hurry, but they make it sophisticated to protect you from fraud.
Finexo is a well-regulated and reputable forex broker. It supports more than one trading platforms and offers user-friendly features and tools. The broker also provides you with different trading instruments and accounts that are commission free. It, however, sets a high initial deposit and has high spreads. Apart from the few drawbacks, it is a broker that gives you an ultimate edge during forex trading.
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