Finexo is yet another great forex broker that is in operation since 2003. In the next year 2004, it got a white label from the Saxo bank. What they claim is their platform is very easy to operate and quite simple. They say that we are here to help the new traders to enter in the forex world as quickly as it can and that too without any hustle. However, sometimes choosing an easy option is not too worthy. We experienced some red flags upon reviewing the broker.
Finexo has managed to bring some pretty cool offers for the traders. At first, registration process is made so simple that anyone can register him for free within just few minutes. However, if you want to start trading quickly, you need to register the account using your credit card. In case, you don’t want to avail the credit card option, then you can also add money through PayPal, Neteller, Moneybookers, or through wire transfer from the bank. You can easily navigate through their website even if you are not an experienced person. They have provided multiple customer services like email and telephone along with round the clock live chat service.
They have named their platform as a forex platform, and it is an extraction of saxotrader of saxo bank. The entire platform is totally web-based, which is so easy to use for both experienced and new traders. There are plenty of options provided by the platform like stop orders, one-click trading, typical market, and trailing stops. Mobile trading is also made available for this platform, which improves user experience. Mobile trading is absolutely free for every trader. Finexo has tried to fix the spread rates on each currency pairs ranging from 3-14 pips. Since they are doing business of dealing desk broker, they like to grab the other side of the picture. Customization option is not available on the platform, but all the required tools are available on the front page. One can easily view and print his account report from this application.
Finexo also offers some other cool basic features, which are very handy for the traders. Through the email updates, they provide daily routine update of the market that includes some in-depth reports as well. Economic event’s data is also provided with calendar that includes the prediction events of the near future.
As stated in the beginning, here are some red flags about this broker. The basic thing they are missing is the option of the demo account which is available in almost every other platform. However, when I contacted the support, they told me that once you sign up for the real account you will also have a demo account. Later, I found out that it isn’t so as they were stating it. In fact, I can now open a demo account from their official website.
Another thing that comes under the red flag is the withdrawal process. The registration process at the start along with the deposit process is kept so simple, but on the other hand, the withdrawal process is way too hard to come across. They have listed several ways to contact them, but upon doing so a customer never receives the answers for his questions. So, if they as a service provider are not willing to answer the questions of client, then why one can call it as a good service provider? According to the Finexo team, they have made the withdrawal process long to avoid any scams. Although this is a good stand still they have to try to make things simple for the users.
According to our detailed review, we will give it three out of five stars.
Established in 2003, Finexo is a product of experienced bankers, hedge fund traders and forex software developers. The main purpose of the Finexo invention is to create an innovative approach to forex trading.
The Different Account Types of Finexo
Many consider Finexo as the best trading platform currently available in the industry today. It uses the Metatrader4 platform which is designed not just for experienced traders but also for novices. It offers such features like one-click trading, trade stop capabilities, mobile and PDA trade options and also the ability to stop orders and enter limits.
Finexo offers both standard and mini accounts. The standard ones are for those with sufficient experience in forex trading while the mini account is the best for beginners. The leverage is 20:1 but traders should keep in mind that there are greater risks involved with higher leverage use. Finexo also offers a wide array of tools that can aid daily trade activities. It offers daily reports, audio briefings, an online forex calendar, a forex glossary and also advanced charting options. Many currencies are offered by Finexo and this include Euros, US dollars and Japanese yen. Finally, Finexo also offers free demo accounts to traders especially to new ones who would want to first test their skills before they actually trades real funds.
Finexo Deposits and Withdrawals
$250 is the minimum deposit requirement for this trading platform and they accept MasterCard, Visa, Amex, Paypal, Moneybookers payments. Withdrawals, on the other hand, can be completed in 48 hours and are subject to various fees. In general, Finexo deposits and withdrawals are made easy to all clients. This makes the trading platform attractive to many. Anyone can easily use the platform and start trading once he is confident that he can trade real funds in real time. There are no difficulties involved when it comes to fund deposits as well as withdrawals.
Finexo offers trade operations in the Netherlands, Austria and Hungary. It offers up to date and latest technological developments when it comes to internet security. Security is ensured since all traders want their trading activities private and their financial information secure at all times. These points are what Finexo banks on.
The good thing with Finexo is that it caters to individual and retail traders both new and experienced. It ensures that each client is given respect and trust as well as reliable customer service 24 hours a day.
In 2003, a group of forex software programmers, experience bankers and hedge fund traders revolutionized the foreign exchange trading industry with the creation of the Finexo trade platform. Since then, traders all over the world have enjoyed an excellent and efficient trade software in the form of Finexo.
Finexo, just like many forex trade programs, use the Metatrader 4 platform. This means that the platform is actually very suitable to new traders as well as experienced ones. They offer one click trading and even trailing stop capabilities as well as the use of mobile and PDA options where the trader can limit and stop his trade orders. With these features, it can be easily said that the Finexo trade platform is a powerful one.
The Finexo trade program offers standards accounts as well as mini accounts that allows traders from different backgrounds try their luck and skill in foreign exchange trading. The leverage available is up o 200:1 but always keep in mind that with higher leverage, you get higher risks well. Another advantage to using Finexo is the availability of various additional tools that include daily reports and even audio briefings. They also provide a forex glossary online that keeps traders up to date and well informed about trade basics and updates. Finexo also offers an online foreign exchange calendar plus charting options. In simple words, the Finexo can be relied on by new and old traders with trading in various currency pairs like USD/JPY and EUR/USD.
Of course, Finexo is very new trader friendly since it offers free demonstration accounts which are very useful for those who want to try out their abilities on their online trading without putting their real money at risk.
The minimum amount of deposit with Finexo is $250. Compared to other trading platforms, Finexo is in the middle ground. To fund your online trade account, you can use your credit cards like Amex, Mastercard, Visa and, of course, Paypal. Withdrawals are also easy to do since they can be completed in 48 hours but will be subject to some fees. Keep in mind that the maximum deposit for an account is $5000 for debit cards while the limit is a whopping $50,000 for bank transfers and egold deposits.
Finexo operates from countries like Austria, Netherlands and Hungary. Of course, the trading platform is subject to the local laws and regulations in these countries.
Forex Broker Review Finexo
Finexo has been in the business of Forex online broker since 2003 and has been a White Label of Saxo Bank (one of the broker concerning Forex market) for more than five years, since 2004. This broker functionality based on the philosophy of easy to use (easy to use) and in fact from the unicio on your website you will notice that among its objectives is the introduction to the novice investor in the currency market, easy, quick and easy. Although often easier and faster is not always better, this broker has multiple features that make it a good choice and we will discuss below.
Finexo offers interesting facilities for the foreign exchange market operator both expert and novice. For example, the registration process is fairly simple and if the client add real funds to your account via credit card, you can begin operating in just a few minutes. If the user does not want to use credit card, this forex broker accepts other ways to add funds, including Paypal, Neteller, Moneybookers, Liberty Reserve, bank transfer and Click and Buy.
With regard to the withdrawal of earnings, this may seem a bit long and tedious, but Finexo representatives state that this is because they seek to protect the user from fraud. Despite this the process is friendly and does not cause major discomfort to the client and the media can be used to add funds to the account.
On the other hand your site is very user friendly and actually has improved greatly in the way it presents information in such a way that navigation has been simplified considerably and the visitor finds what they need without much effort . It has a live chat 24 hours a day, and customer service via email and telephone. It also comes in several languages (English, Spanish, French, German, Turkish, Arabic, Portuguese and Russian), which allows it to be used by people from practically anywhere in the world.
This allows the client broker operating in the following investment instruments:
* Forex Market (25 different currency pairs).
* Metals (gold and silver).
Finexo currently offers two classes of real accounts: the mini account and the regular or standard account. By the first type of account allows the customer Finexo operate in the Forex market with a minimum deposit of $ 100. This way you can practice with real money without having to arriegar initial bulk as other brokers. Mini accounts offering a leverage of 1:200 in the same way that a normal real account. In fact, all operations are performed with a standard volume. Both types of accounts operate on the same trading platform, the Metatrader 4 with all its functions and analysis tools available.
For those who do not know, this platform offers advanced download the option to make trades in a single click with market orders, stop orders, limit stops and orders.A trainling following is a more detailed description of the platform Metatrader 4:
Metatrader 4 trading platform
The Metatrader 4 does not need much presentation between those with experience in the Forex market. It comes equipped with many functions and herramienrtas designed for most demanding operators. It is by far one of the most comprehensive platform. Among its many benefits include:
* The most popular platform today, one of the references between the Forex platforms.
* It is a downloadable application which however is not very demanding for the computer.
* No Dealing Desk execution.
* The largest inventory of technical analysis tools.
* Graphics and real-time quotes.
* Fully customizable by the customer.
* Ability to customize the tools of technical analysis and design indicators.
* Use of Expert Advisors (EA) for automated trading. These are programs that perform automated trading strategies designed by the user or by another trader so that the operating system platform on their own. This allows the trader to take advantage of the opportunities the market still not connected and operating with the platform.
In addition to using Metatrader 4 platform that gives you maximum flexibility to the Forex broker, Finexo offers a very interesting option to their customers what the mobile phone trading (system to operate and manage the account from the mobile phone) . By entering the trading account and make transactions through this service, Finexo does not charge any fee to its customers. This system, known as Finexo MobileTrader, also based on Metatrader 4 allows investors access to financial markets from anywhere. Thanks to this, the user can stay updated on their operations regardless of where and who has access to your account anytime from anywhere. With this facility, Finexo seeks to provide its customers the following opportunities:
* Immediate access to markets.
* The possibility of exploiting all opportunities for profitable operations although you are not near a computer.
* Check your positions from anywhere at any time.
* Use a user-friendly application.
* Ability to deal with up to 25 currency pairs from the palm of your hand.
* Receive updates on news, economic events and market behavior.
* Able to view graphs of market prices.
* Do not rely on a computer to operate.
At this point we should clarify that in the same manner as other brokers ECN, Finexo charges a varied spread for each currency cross which can range from 2 pips to 14 pips of course depending on the currency pair that you want to trade .
Also, offers several interesting Finexo as a support for all customers. For instance, provides an update on the foreign exchange market, daily and weekly via e-mail and platform Metatrader 4, which includes some fundamentalist trading ideas (based on important economic news) and analysis of the most important currency pairs based on technical analysis. In fact Finexo sends all e-mail on specific ideas about operations in the major currency pairs like EUR / USD, GBP / USD and USD / JPY and others, on which recommend possible trades, indicating input prices, output and stop loss. These recommendations are accompanied by graphics and are based on resistance, support, training and Fibonacci levels. They are sent twice daily, morning and afternoon (GMT time).
It also offers a daily updated economic calendar that includes expectations and predictions about events to occur. This calendar with their respective analysis is offered in your website and also sent directly to the mail.
Like other brokers, Finexo offers a demo account that can be used with your regular trading platform, so that the investor can get to know this application and all it offers and practice before you operate with real money. This was a weakness that had Finexo at the beginning (did not have a demo account), which recently corrected. The demo account Finexo offers a virtual balance of $ 15,000 with all the features of the platform Metatrader 4. Unlike other brokers, the demo account has no deadline and provides access to the above functions as a news analysis, economic calendar and more. The opening of this demo account is free and can be done with the following link:
Open a free demo account of $ 15,000
Finexo offers all this and more, making it one of the most popular Forex brokers on the market today. An excellent trading platform, good customer service and support additional functionality to their customers Finexo make an appropriate option for operators with or without experience who want to invest your money in the Forex market and other financial instruments.
If you want to learn more from this broker or join for free Finexo to invest in the Forex market with a real account or just want to try before you with a demo account, just use the following link or banner:
Finexo Affiliate Program
Once you join Finexo, you have the possibility of joining your affiliate program, known as Referforex, whereby you can earn enough money just by recommending services like Finexo broker in the Forex market and Forex broker other as Forexwebtrader and Btrader. Thus, the more members you get to deposit money and operating in the Forex market, you can earn more logically. The program makes available to its members to promote to multiple tools and platforms Forex Finexo above and is perfect for those who own one or more web sites related to the subject. If you own such a site with enough traffic and you want to monetize, Finexo is an excellent option because you only have to place banners and referral links and direct traffic. In fact there are people who do not operate in all in the Forex and make enough money Finexo recommending to others, such as experienced and novice Forex traders looking to invest their money. Registration and use of the tools of this affiliate program is absolutely free.
In addition, this program allows you to increase your profits by recommending people to it. This means that you can promote Referforex program which recognizes you as much as 10% of what your referrals earn. This is another option that gives you the chance to multiply the money earned. If you want to join Referforex only employs the following link or banner: