There are various ways to invest your money with high returns. One of these possibilities is the capital market, i.e. the stock exchanges of the world where stocks, commodities and currencies are traded practically around the clock. However, this capital market is by no means a homogeneous variant, but investors and traders have many trading options at their disposal. In addition to long-term investments, in which capital market products are acquired and held with a perspective of several years, trading is also playing an increasingly important role among private players. One of these online brokers is the provider Finexo, which provides its customers with a selection of around 300 different underlying assets for trading.
|🥇 Best bidder||Finexo|
|⭐Rating||5.0 / 5.0|
|🐂 Trading||Forex & CFD|
|📈 Underlyings| ||63||45 Währungspaare, 2 Rohstoffe, 180 Stocks, 26 Indizes, Rohstoffe und Bonds|
|💻 Software||MetaTrader 4 Sirix Webtrader|
|⚖️| ||73Regulierung:||CySec (Cyprus)|
Leverage of up to 1:200 can be used. However, the high potential returns should not distract from the fact that this form of trading is a risky affair. Because, as always, when it comes to investing, there are high opportunities and high risks. Traders should know these risks as well as possible. In addition, it is of course important that the traders develop their own strategy with which they are active on the financial markets. Extensive support can be expected from the online broker Finexo. In a detailed test, we wanted to find out what this support actually looks like and what trading options there are in detail at Finexo. We were also interested in the question of whether Finexo is a reputable provider. Traders who choose a particular online broker should be able to rule out the possibility of fraud or rip-offs being the order of the day.
Our experience at a glance
Our test follows a clear one Structure in which we go into individual important aspects of Finexo's offer point by point. Before that, however, we would like to familiarize you with our most important experiences that we have gained as part of our Finexo test. The first thing we noticed was that the broker had a very professional claim and that this was also underlined by the design of the website. The structure of the website follows a clear line, with the content being presented clearly and soberly. However, in order to find out all the details, you must be able to speak English.
Unfortunately, a Canadian version is currently not available. The information and educational offerings, of which Finexo offers a wide and professionally designed selection, are also not available in Canadian. In our experience, these offers are initially aimed at beginners who can use a so-called beginner's course to familiarize themselves with the trading software or certain strategies. Customers can also use an economic calendar with the most important market-relevant data.
|Company||Leadcapital Markets Ltd.|
|Address||Treppides Tower , 5th Floor, 9 Kafkasou Street , 2112 Nicosia Cyprus|
|Telephone||UK Local Number +44-203-807-4621|
Traders who do not want to start immediately with their own trading capital also have the option , first to use a demo account, which offers the full range of functions that can also be used in real trading. The professional impression is also confirmed in the area of actual trading. Whether trading via the MetaTrader or the browser-based platform, the trader has many instruments available for trading and the platform is also extremely stable and reliable. The selection of base values is not huge, but it is sufficient to meet high demands.
Depending on the selected asset, leverage of up to 1:200 can be used. It also doesn't matter which account version was selected, with a total of three different types to choose from. The simplest account can be opened with a minimum deposit of 1,000 euros. Those who are not deterred by this comparatively high initial deposit will definitely find a convincing online broker for Forex and CFD trading in Finexo, with whom we have primarily had positive experiences in our test. In the following section we would like to clarify to what extent this also applies to the area of seriousness.
Finexo under review: Fraud or serious?
It is no different when selecting the right online broker than in other areas. In addition to the actual product properties, which are usually placed in the foreground by the provider in an advertising-effective manner, as a customer you are always well advised to also take a look at the general quality. A central quality feature in the field of online brokers is the reliability and seriousness of a provider. After all, the trader entrusts a not inconsiderable amount of money to his online broker and also wants to be treated fairly at all times when trading.
At first glance, however, this is not always easy to recognize. As part of our test, however, we got to know an absolutely trustworthy online broker who takes the interests of his customers very seriously. Another factor that clearly speaks for Finexo in this respect is the regulation by the Cyprus authority CySec. This also ensures that compliance with important standards in dealing with customers and their funds can be assumed. All in all, customers can safely assume that fraud or rip-offs do not play a role with this provider.
Many underlyings at good trading conditions
Now that we have clarified that it Finexo is a reputable provider, we can now take a look at the actual offer that is available to traders for trading. In addition to the base values that can be used in trading, the selection of account types also belongs in this category in our opinion. Before the trader actually starts trading, he must first decide which account he wants to use. In addition to the minimum deposit required for this, the quality of the support in trading also depends on it.
Three account types are available
The online broker provides offers its customers three different account types for trading. There is also a demo account, which can be opened before you start trading or also offers the opportunity to test other strategies without risk parallel to the actual trading. First of all, we would like to positively emphasize that regardless of the selected account type, a good selection of support offers can be used. Regardless of whether the account type Classic, Gold or Platinum is selected, both daily analyzes and 24-hour support are of course available. The offer, which all customers can use regardless of the account type, also includes many instruments and indicators for trading as well as a personal account manager. This basically guarantees high quality in the areas of trading, care and support. However, this high quality does not come for free. In comparison to other online brokers, the hurdle for entering the trade is comparatively high, since a minimum deposit of 1,000 euros is required even for the simple Classic Account.
In addition, the gold account requires a minimum deposit of 5,000 euros available. And only from a deposit of 25,000 euros can the advantages of the premium account be used. Above all, this includes premium customer service and premium analyses. Specifically, traders have the opportunity to benefit from exclusive analyst comments and, if necessary, to consult the experts at Finexo directly. In the case of the Gold account, the additional benefit is limited to the daily premium analyses. In turn, all users have access to the further training offer, which is mainly conveyed with the help of videos. Various e-books can also be used by all customers regardless of the account type selected. Ultimately, Finexo's offer is also interesting because a large part of the overall very good service and support offer, such as daily analyzes and the 24-hour service, can also be used if only a demo account is to be opened initially. A very realistic start is thus made possible in any case. The wide selection of underlyings is also available to all customers. We would like to go into more detail on this in the following section.
Trading with approx. 300 underlyings
In total, the range of underlyings available to Finexo customers for leveraged trading includes 300 underlyings from the areas of stocks, stock indices, commodities, currency pairs and Government bonds (bonds). This means that a very wide range of different strategies can be used. The range of stocks alone is very extensive, with around 180 stocks to choose from. In our experience, the selection represents a good mix of values from the international markets, with the American market being over-represented. But a number of European and Asian stocks can also be traded. There is also a sufficiently wide selection of different sectors.
The leverage that can be used in retail is between 1:5 and 1:20. You can trade on the basis of fair and variable market spreads. Furthermore, commissions are not required. The conditions are similar in the area of indices, where the offer consists of almost 20 different titles. In addition to the important global stocks such as Dow Jones, Nasdaq, S&P, Nikkei or Dax, there are also a number of smaller stocks in the Finexo list. In addition, 45 currency pairs can be traded. Here the traders can rely on a selection that goes beyond the usual standard in the industry. The well-known majors, i.e. US dollars, euros, British pounds and Japanese yen, are then available for selection. The range also includes other currencies, such as the Swiss franc, dollar currencies from the states of New Zealand, Canada and Singapore, as well as currencies from the Scandinavian countries. But the South African rand, Russian ruble and Brazilian real are also represented. The leverage that can be used in this category is consistently 1:200 and the spread starts in the range of 3 pips for heavily traded combinations such as the euro vs. dollar.
And there is also a good selection in the area of tradable commodities to disposal. This includes the energy values of oil and gas as well as the agricultural products cocoa, wheat, cotton and coffee. In the area of precious metals, gold, silver and copper can be traded. With equally favorable spreads, the available leverage is between 1:10 and 1:100. Finally, we would like to take a look at the bonds, i.e. the government bonds. With a leverage of 1:100, the papers can be traded in the currencies euro, pound, yen and US dollar with a spread from 0.06 pips of the respective currency. In any case, Finexo customers can access an extensive and very well-structured range of underlying assets.
Bonus for new customers after consultation with the account manager
Many online brokers, with their offers advertise for new customers, rely on a bonus. New customers in particular can benefit from additional trading capital, which is credited to the trading account as soon as they have deposited their own money. In many cases, the providers outbid each other with their bonus promises. Finexo takes a different approach here, where references to the bonus can only be found in the small print. Apparently, the customers should first have the opportunity to get an unbiased picture of the offer.
A bonus is only paid out after consultation with the personal account manager. How high this is in concrete terms depends primarily on the amount of your own deposit. However, no further details are given here on the website. In order to be able to pay out the bonus amounts, however, extensive requirements are placed on the actual trading. In this respect, Finexo does not differ from other providers. After the bonus amount has been granted, it is necessary to have achieved a turnover of at least 10,000 euros in retail for each bonus euro paid out. There are also only 60 days available for this.
|Deposit bonus:||from 1000 euros deposit in consultation with account manager|
|Bonus conditions:||10,000 Euro turnover per bonus dollar within 60 days|
Deposit and withdrawal via e-wallet or credit card
Customers should expect little surprise when it comes to deposits and withdrawals. Here you can use two common methods. In addition to the credit card, it is possible to deposit money into the trading account via e-wallet. When it comes to credit cards, you can choose from the providers Visa, MasterCard and Maestro. The range of online payment services includes Neteller and Skrill. However, it is not possible to deposit money by bank transfer. In principle, however, it can be assumed with the specified methods that the trading capital can be used in trading directly after completing the deposit formalities via the website. When paying out, on the other hand, it takes a few days until the corresponding requests are processed or until the money arrives in the corresponding account.
|Overview of the deposit and withdrawal methods|
|Payment options:|| |223||MasterCard, VISA, VISA Electron, Maestro, Skrill, Neteller|
|Minimum deposit:||1,000 euros|
|Account management possible in:||EUR, USD, GBP|
|Payout options:||MasterCard, VISA, VISA Electron, Maestro, Skrill, Neteller|
Security and regulation at EU level
In one of the previous sections we have already indicated that Finexo is a regulated provider. Since the online broker is based in Cyprus, the corresponding control authority CySec is responsible. Among other things, this ensures that the conditions applicable within the EU are also observed. In addition to regulations on dealing fairly with customers, this also includes separate management of customer funds and company funds. In concrete terms, the customers' funds are deposited with banks as credit balances. This has the advantage that even if the online broker goes bankrupt, there is no risk of external creditors being able to access this capital. All in all, Finexo customers can rely on a solid level of security.
In addition to the security of deposits, the reliability of an online broker also depends on how fast the Emergency help can be requested. Although we did not get the impression during our test that disruptions in retail are the order of the day, it cannot be completely ruled out that technical problems or other questions lead to an employee having to be contacted quickly. Anyone who opens an account with Finexo is assigned a personal contact person who can be addressed either by telephone or email. Contact via online chat is also possible at any time. At this point, however, we would like to draw your attention once again to the fact that this service is not available in Canadian, but that the English support service must be used.
Website makes a user-friendly impression
The In our experience, Finexo's presence on the Internet is also very professional and well structured. It is very easy for the visitor to find out all the important information about underlying assets, leverage ratios and average spreads. In addition, Finexo's customers can access a very interesting range of further training opportunities.
Here, too, it is very easy to find your way around quickly. The same goes for the platforms. Regardless of whether the trader chooses MetaTrader 4 or the browser-based Sirix WebTrader platform, he can always rely on reliable and easy-to-use technology. While numerous individual settings can be made in trading based on the MetaTrader and a large number of instruments are available, the browser-based platform offers a plus in terms of flexibility, since it can be accessed from practically any computer.
The offer also includes the option of using the trading offer via mobile end device. This means that there are hardly any limits to flexibility in retail. The mobile versions are based very closely on the regular platforms, so that it is not a problem to switch between the two variants. In principle, a large selection of information options and trading instruments can also be accessed. In principle, full-fledged trading is also possible on the go.
Conclusion - Finexo offers a high level for CFD and Forex trading
In our Finexo test we got to know an extremely professional representative of this branch. Based on a convincing online presence, three accounts are offered for trading, within the framework of which many interesting services can be used. This includes, among other things, support that is available around the clock on trading days. Even with a simple account, you can rely on daily analyzes and a well-staggered training program. However, it is necessary to deposit at least 1,000 euros in trading capital. Additional premium offers can be used with higher account versions. A fully functional demo account is also available to familiarize yourself with the offer. We have also gained a positive impression of this provider in terms of seriousness. Fraud or rip-off definitely don't play a role here.