Finzo Markets Review

Home » Reviews » Finzo Markets Review

Embarking on the journey of online trading necessitates a careful selection of your trading partner. In this quest for financial prosperity, Finzo Markets emerges as a contender, offering a diverse range of financial instruments, including forex, commodities, indices, and precious metals. The broker asserts its presence in Saint Vincent and the Grenadines, with additional offices in Russia and Mauritius. However, the path to informed decision-making is not without its challenges, as concerns regarding the broker’s legitimacy and safety persist. In this article, we will serve as your compass, guiding you through the intricate landscape of Finzo Markets. We will also delve into vital aspects such as regulation, platforms and tools, educational resources, market offerings, account options, and funding methods. With each facet examined in detail, our aim is to provide you with a clear and impartial perspective on whether Finzo Markets merits your consideration in the world of online trading.

Summary

Finzo Markets Review

Finzo Markets, an online trading broker, extends a menu of financial instruments encompassing forex, commodities, indices, and precious metals. Operating as Finzo Markets International Ltd, it is registered in Saint Vincent and the Grenadines, a jurisdiction known for hosting unregulated brokers. The broker claims offices in Russia and Mauritius but doesn’t substantiate these claims with verifiable evidence. For trading, Finzo Markets offers the Web Trader and mobile apps, promising swift execution, transparent pricing, and innovative features. Leverage of up to 1:1000, variable spreads starting from 0.5 pips across various assets, a choice of three account types, and round-the-clock customer support are part of its offerings.

The broker articulates its commitment to delivering competitive spreads, execution, liquidity, and tailored trading tools for both retail and institutional clients compared to interbank traders. However, it’s imperative for investors and traders to proceed with caution and delve further into the details. The absence of regulation from reputable authorities and the presence of numerous negative customer reviews underscore the importance of continued scrutiny. As we explore the various facets of Finzo Markets in the following sections, it’s essential to make an informed decision in the ever-evolving landscape of online trading.

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

TradeTrade

Regulation

When it comes to selecting a reliable online trading broker, regulatory oversight holds paramount importance. In the case of Finzo Markets, a noteworthy concern arises – the absence of regulation from established financial authorities like the FCA, ASIC, CySEC, or FSCA. While the broker asserts registration as an International Business Company in Saint Vincent and the Grenadines, bearing registration number 25993 BC 2020, it’s vital to clarify that this does not equate to regulatory approval.

Saint Vincent and the Grenadines, a renowned offshore jurisdiction, notably does not regulate forex and CFD brokers. Furthermore, there’s a lack of concrete evidence regarding the broker’s physical presence or legal standing in Russia and Mauritius, where it claims to have offices.

Consequently, engaging with Finzo Markets carries a substantial degree of risk, as there’s no assurance of adherence to fair and ethical trading practices, safeguarding client funds, or honoring withdrawal requests. In light of these factors, exercising utmost caution is advisable when considering dealings with this broker. Proceeding with caution is prudent to navigate the complexities of the online trading landscape. Please see a list of regulated brokers for some alternative options

Platforms & Tools

Finzo Markets extends two distinct trading platforms to its clientele: the Web Trader and mobile apps designed for Android devices. The Web Trader stands as a web-based solution, eliminating the need for downloads or installations, and allowing access from any browser and device. Its versatility spans multiple financial instruments, including forex, CFDs, stocks, and futures. Alongside a substantial array of indicators and graphical tools for technical analysis, the Web Trader prioritizes security and offers a user-friendly interface.

Finzo Markets Platform

For traders on the move, the mobile apps provide flexibility and mobility, enabling seamless trading experiences. These apps facilitate the monitoring and management of multiple trading accounts, ensure swift execution, and transparent pricing, and introduce innovative functionality. Both the Web Trader and mobile apps operate within the Finzo Markets trading environment, striving to provide competitive spreads, execution, liquidity, and customized trading tools compared to interbank traders.

Education

Finzo Markets asserts a commitment to providing an array of educational resources to its clients, encompassing;

• webinars,
• videos,
• articles,
• e-books,
• and tutorials.

This educational suite is purportedly available to traders across all experience levels, from novices to advanced practitioners. Topics covered by the broker’s educational materials include;

• market analysis,
• risk management,
• trading psychology,
• technical indicators,
• and trading platforms.

However, it’s essential to exercise a degree of caution when evaluating these resources. Notably, the absence of specific details or examples on the broker’s website leaves questions regarding the utility and currency of these materials, especially when compared to offerings from other brokers. Additionally, Finzo Markets does not provide a demo account option, which can be a valuable tool for traders to practice and refine their strategies without exposing real capital to risk. This limitation may potentially hinder learning opportunities and erode confidence, particularly among beginners.

Given these considerations, a prudent approach to relying on Finzo Markets’ educational resources is advisable. Exploring alternative sources and avenues for learning may be a wise complement to one’s trading journey.

Markets

Finzo Markets presents a range of financial instruments, including forex, commodities, indices, and precious metals, as options for its clients to engage with. The broker highlights its commitment to competitive spreads, high leverage of up to 1:1000, and transparent pricing across various tradable assets. It asserts adherence to stringent daily capital adequacy requirements, emphasizing its dedication to delivering high-quality investment services on a global scale.

The absence of cryptocurrency trading options, a growing and potentially profitable niche in online trading, might limit opportunities for traders who wish to explore this asset class.

Accounts

Finzo Markets extends three distinct live trading account options: Gold, Platinum, and Premium. Here’s an overview of the features and requirements associated with each:

1. Gold Account: Positioned as the introductory account, the Gold account entails a minimum deposit of $150, with base currencies available in USD and EUR. Variable spreads, starting from 0.5 pips on major currency pairs, are offered. Leverage goes up to 1:1000, enabling traders to amplify their market exposure with a modest capital outlay, though this also escalates risk. A $2 commission per side per 10000 traded, added to spreads, affects profitability. This account type grants access to various financial instruments, encompassing forex, commodities, indices, and precious metals.
2. Platinum Account: An intermediate option, the Platinum account mandates a minimum deposit of $250, with base currencies in USD and EUR. Variable spreads, commencing at 0.5 pips on major currency pairs, prevail. Leverage up to 1:1000 is available, offering a similar potential for exposure and risk as the Gold account. The $2 commission per side per 10000 traded impacts profitability. This account level includes some added perks, such as a personal account manager, complimentary VPS service, and priority withdrawal processing, while maintaining access to the same range of financial instruments.
3. Premium Account: Positioned as the advanced account, the Premium account requires a minimum deposit of $500, with base currencies available in USD and EUR. Like the previous accounts, it features variable spreads from 0.5 pips on major currency pairs and leverage up to 1:1000. The $2 commission per side per 10000 traded also applies. Beyond this, the Premium account offers additional benefits, including a personal account manager, free VPS service, priority withdrawal processing, and access to exclusive webinars and market analysis. It maintains access to the same financial instrument offerings.

Funding

Finzo Markets offers a range of funding methods for its clients’ convenience, including bank wire transfers, credit/debit cards, and e-wallets. The broker emphasizes its support for multiple currencies, encompassing USD, EUR, GBP, and RUB. Notably, Finzo Markets asserts a commitment to fee-free deposits and withdrawals, with requests processed within a 24-hour timeframe.

However, it’s essential to approach these claims thoughtfully. The lack of specific details or examples regarding funding methods, such as minimum and maximum amounts, processing times, and security measures, on the broker’s website leaves room for questions about their convenience and reliability, particularly when compared to offerings from other brokers. Additionally, there’s a possibility that hidden fees or charges might exist, which are not disclosed upfront. Therefore, exercising caution and conducting thorough research when funding your Finzo Markets account is recommended.

Conclusion

In conclusion, while Finzo Markets presents an array of trading features and services, our discussion has highlighted certain areas of concern, such as regulatory status and transparency in various aspects. It’s essential for potential clients to weigh these factors carefully and conduct thorough research before choosing this broker. Furthermore, considering that there are other brokers with longer track records and potentially more established reputations, it may be wise to explore alternative options. For a broader range of choices and in-depth insights, we recommend delving into our comprehensive trading broker reviews to make an informed decision that aligns with your specific trading preferences and requirements.

$150

Finzo Markets is an online trading broker that offers a range of financial instruments, such as forex, commodities, indices, and precious metals.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

TradeTrade

About the Author

Trading Brokers
Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.