Score
FinX Brokers
Tanzania|2-5 years| https://finxbrokers.com/
Website
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Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+382 694 28196
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Broker Information
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FinX Brokers
FinX Brokers
Tanzania
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $50000 |
| Minimum Spread | 0.0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $5 |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $5000 |
| Minimum Spread | from 0.6 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $5 |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $10000 |
| Minimum Spread | from 0.3 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $20000 |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
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- Underlying Risk
Capital
$(USD)
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FinX Brokers · Company Summary
General Information & Regulation
FinX Brokers presents itself as a worldwide brokerage house registered in Saint Vincent and the Grenadines that started trading online in 2020. It claims to provide its clients with various tradable financial instruments with leverage up to 1:200, variable spreads from 0.0 pips and no commissions on the MT5 for Windows, iOS/Apple and Android trading platforms, as well as a choice of four different live account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that FinX Brokers does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.14/10. Please be aware of the risk.
Market Instruments
FinX Brokers advertises that it offers access to a wide range of trading instruments in financial markets, including Currency, CFD, Spot Metals, Indices, Spot Commodities, Cryptocurrencies, US Stocks, EU Stocks and Asian Stocks.
Account Types
Apart from demo accounts, FinX Brokers claims to offer four types of real trading accounts, namely Gold, Platinum, VIP and ECN. The minimum initial deposit amount is extremely high-$5,000 for the Gold account, while the other three account types have much higher minimum initial capital requirements of $10,000, $20,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage provided by FinX Brokers is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
FinX Brokers claims that the spread is different for different account types. Specifically, the spread starts from 0.6 pips on the Gold account, from 0.3 pips on the Platinum account, from 0.2 pips on the VIP account and 0.0 pips on the ECN account. All charging no commissions.
Trading Platform Available
Platforms available for trading at FinX Brokers are MT5 for Windows, iOS/Apple and Android. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
FinX Brokers says to accept deposits via Bank Transfer-EFT, SWIFT, Crypto Transfer and Credit Card. The minimum initial deposit requirement is said to be $200, while there is no mention of what the minimum withdrawal amount is.
Customer Support
FinX Brokers customer support can be reached Monday-Friday 08:00-17:00 by telephone: +382 699 552 48, email: info@finxbrokers.com or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook and Instagram. Head Office: First Floor, First St. Vincent Bank Ltd. Building James Street / Kingstown.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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