OnFin Information
OnFin ltd is registered and licensed in the island of mohsamli, Union of the Comoros, and is an international brokerage company with license number BFX2024038. It offers ultra high-speed processing of orders (less than 1 ms) and spreads from 0 points through MT4 platform, which also ensure direct interaction (ECN) with liquidity providers anywhere in the world.
Pros and Cons
Is OnFin Legit?
Trading with a regulated broker is important to protect your money. OnFinis not regulated, so be careful when dealing with it.
What Can I Trade on OnFin?
OnFin focuses on providing trading services for financial instruments, such as Forex, Metals, CFD indices, CFD commodities, CFD stocks.
Trading Account Comparison
OnFin's account types are primarily differentiated based on Minimum Deposit, Commission and spreads.
MINI account is suitable for novice traders, especially those seeking a low barrier to entry. The minimum deposit is just $1, the trading commission is 0＄, and the floating spread from 2.5 points provides competitive pricing. High leverage of up to 1:1000, coupled with lower margin requirements, may bring greater returns, but also greater risk.
FIX account provides fixed spread from 3 pips, high leverage of up to 1:1000, and lower margin requirements, whic may bring greater returns, but also greater risk. FIX's stability and transparency are suitable for traders who prefer predictable trading conditions and a long-term approach.
ECN account seeks the most competitive market conditions for experienced traders. It offers ultra-low floating spreads starting at 0 pips, ensuring the lowest transaction costs. The trading commission of USD 4 / lot is transparent and competitive.
The minimum deposit for COPY account is just $100 and the transaction fee is 0. It allows flexible trading with a minimum trade size of 0.01 lots and a maximum leverage of 1:1000, offering potentially significant returns. The account also features a floating spread, starting at 2.4 pips, offering competitive pricing.
Account Comparison Table:
Trading Platform Review
OnFin uses MetaTrader 4 platform, which offers multi-platform support, an extensive library of indicators and signals, and advanced charting tools. It also offers a transparent and reliable trading environment without quotations and restrictions on strategies.
Deposit & Withdrawal Review
Investors can choose multiple payment methods from popular cryptocurrencies like MasterCard, VISA, Fastapay, Bitcoin, Wire transfer. The minimum deposit amount depends on the selected method.
Customer Support Options
OnFin provides multiple channels for customer support, including phone, email, live chat, contact forms, and social media.
FAQs
Is OnFin regulated?
No, OnFin is not regulated.
What trading platforms does OnFin offer?
OnFin offers the MetaTrader 4 (MT4) platform, which is a popular choice among traders.
What types of assets can I trade on OnFin?
OnFin offers a variety of assets for trading, including Forex, metals, CFD indices, CFD commodities, and CFD stocks.
What are the different account types offered by OnFin?
OnFin offers four account types: MINI, FIX, ECN, and COPY.
Risk Warning
Please ensure that you fully understand the risks involved, as the above information may change as it is constantly updated.
