Headquartered in London, United Kingdom, Finotrade is an online financial services provider that was founded by investors for investors. They provide traders with the MT4 trading platform, which is available in desktop, web, and mobile versions. Clients get to trade multiple financial instruments, including forex, CFDs, and commodities, whilst there are various learning tools, useful trading tools, and a client support team to assist them. The minimum deposit required to start trading is $1,000.
Finotrade Review, Pros & Cons
- User-friendly trading platform
- Educational resources & trading tools
- Various financial markets
- Multiple account types
- A minimum deposit of $1,000
- Limited deposit/withdrawal methods
- Not the tightest spreads
- No USA traders
In this detailed Finotrade review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Finotrade is an online trading broker that offers seamless access to the global financial markets. Finotrade’s clients benefit from various favourable trading features, such as demo accounts, multiple trading accounts, zero commission, and low spreads. All trading activities are executed on the MT4 trading platform.
Finotrade is a trading name of Finotec Trading UK Limited and the website www.finotrade.com is owned and operated by Finotec Trading UK Limited. Finotec Trading UK Limited is authorised and regulated by the Financial Conduct Authority, with Financial Services Register Number (470392).
The broker accepts traders from different parts of the world, provided that their countries of residence permit online trading with international brokers.
Some Finotrade features and products mentioned within this Finotrade review may not be available to traders from certain countries because of legal restrictions.
Finotrade provides traders with the MT4 trading platform, which is an advanced trading platform that offers live quotes, real-time charts, in-depth news & analytics, tailored tutoring as well as a host of order management tools, and indicators. The platform also offers a rich and user-friendly interface that is easy to navigate.
The MT4 trading platform is available as a desktop application for Windows and Mac computers, and a web version that can run directly on most modern web browsers — Chrome, Safari, Firefox, and Edge — without the need to first download or install a trading application. There is also a mobile app that is designed for Android and iOS mobile devices.
Finotrade Trading Tools
Traders are provided with various trading tools — including Forex Calculators, Real-Time Chart, Economic Calendar, and Trader Chat — to help them get the most out of their trades.
There are various educational resources on the broker’s website to help traders improve their financial knowledge. The resources include the forex glossary, video tutorials, e-books, and several learning articles.
Finotrade offers the following trading instruments: forex, CFDs, and commodities.
Finotrade Accounts & Fees
Finotrade offers a choice of four live trading accounts. The account types and their corresponding minimum deposit requirements are as follows: Classic ($1,000), Gold ($10,000), Platinum ($25,000), and VIP ($100,000). A demo account is available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Finotrade review. It is imperative to ensure that you check and understand all of the latest information before you open a Finotrade broker account for online trading.
The broker provides traders with a knowledgeable client support team who are polite and prompt in response. The support team is available 24/5 and can be reached via telephone, email, and Live Chat.
Finotrade Deposit & Withdrawal
Traders can deposit and withdraw funds via any of the following payment methods:
- Wire transfers through your local bank
- Union Pay
The time taken to process transactions may vary depending on the payment method in use.
Finotrade Account Opening
Opening an account with Finotrade involves a straightforward process: simply click on the “TradeNow” tab on the homepage of the broker’s website and provide the requested details.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
Finotrade is an online broker that is based in the United Kingdom. They provide traders with the MT4 trading platform for trading multiple financial assets. The broker offers multiple trading account options to choose from, with a minimum deposit requirement of $1,000.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange. You should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.