Fundiza is an offshore forex and CFD broker that offers multiple assets for trading online via the sophisticated MT5 trading platforms for multiple devices. The broker has competitive trading conditions but are lacking in many areas, including trader’s education and regulation. The minimum deposit requirement is also very high when compared to many other brokers that the trading brokers team have reviewed.
Fundiza Review, Pros & Cons
- Over 500 trading instruments are available
- Trading online via the sophisticated MT5 trading platform
- Multiple account types
- Multiple payment options including e-wallets & cryptocurrencies
- Offshore broker
- No demo trading accounts
- Clients from USA, Iran, Syria & North Korea are not accepted
- No trader education
- No market news & analysis
- High minimum deposit is required to open a trading account
- Not the lowest spreads
In this detailed Fundiza review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Fundiza is a brokerage brand that offers online trading of forex, commodities, precious metals, shares and indices. Founded in 2019 in St. Vincent and the Grenadines, the broker offers competitive spreads and reliable trade execution speeds. Clients have to choose from the multiple account types available. Also there are several payment options including multiple cryptocurrencies.
Over 500 trading instruments are available for trading online through the modern MT5 trading platforms. The platform is available on mobile, desktop and on the browser based ‘WebTrader’. Signals and webinars are available for account holders only.
www.fundiza.com is owned and operated by Fundiza Ltd which is registered in St. Vincent and the Grenadines with the registration number 25770BC2020.
It is regulated by the Financial Services Authority of St. Vincent and the Grenadines (FSA SVG).
Clients’ funds are maintained in segregated bank accounts with the top rated banks. This gives further security to clients’ deposits because it means that Fundiza should not use the funds to run its own operations regardless of the brokers financial position.
The official website and platforms are protected with Secured Socket Layer (SSL) technology. The SSL encrypts all data before it is transmitted to the servers through the internet.
Fundiza does not offer its services to clients from USA, Iran, Syria and North Korea. Some Fundiza broker features and products mentioned within this Fundiza review may not be available to traders from specific countries due to legal restrictions.
The only trading platform available to Fundiza clients is the MT5 trading platform. It was designed by MetaQuotes Software Corporation; a Russian software company based in Cyprus. The MT5 platform was developed as a successor to the widely used MT4. It has multiple tools for trading and market analysis. The platform is available as WebTrader which runs on web browsers across every operating system without needing to download or install any additional software. It is also available as Windows desktop application and as mobile trading apps.
Here are some of the key features of the MT5 platform:
- User friendly with customizable layouts, windows, colours, etc to suit the trader’s preferences.
- The ‘market watch’ window displays all the trading instruments and their ‘bid’ and ‘ask’ prices in real-time.
- It can display multiple charts, up to 100 at a time.
- 3 charts styles can be displayed in up to 21 timeframes.
- It comes preloaded with 38 technical indicators but it can be extended to thousands of indicators with plugin apps.
- Supports the coding, installation and use of Expert Advisors (EAs) which automates trading.
- It has 44 inbuilt analytical tools.
- The economic calendar is incorporated into the platform.
- Clients can access the MQL5 market where EAs, indicators and other trading tools can be bought or acquired at no cost.
MT5 Mobile Trading App
MT5 supports trading on the go with its mobile applications developed for Android and iOS devices. The apps can be downloaded from their respective stores. It is loaded with inbuilt tools for market analysis and trading whilst on the go.
Here are some of the features of the MT5 mobile trading app:
- The customizable ‘quotes’ tab displays the tradable assets and their quotes in real time.
- It supports charting in 9 timeframes and 3 chart styles.
- Supports up to six pending orders.
- Comes with up to 30 inbuilt technical indicators.
- The news tab displays the market news and analysis.
Fundiza Trading Tools
MT5 Platform Tools
The MT5 trading platform comes with a myriad of tools like the economic calendar which is an important tool used by fundamental analysts. Clients can subscribe for a virtual private server (VPS), daily signals as well as buy or rent an EA all from the MT5 trading platform.
During registration, you can tick a checkbox if you wish to receive daily alerts and trading signals via sms. It is not available to Rookie and Basic account holders. Also daily market news is available to subscribed clients.
There is no trading academy, training resources or tutorial videos available on the Fundiza website. However, the broker states that webinars are available for VIP clients.
Fundiza boasts of over 500 trading instruments in the asset classes of forex currency pairs, precious metals, commodities, share CFDs and indices.
Fundiza Accounts & Fees
The following account types are offered by Fundiza to its clients:
This is the entry level account although the minimum deposit is $5,000 which is a lot compared to most trading brokers, some of whom offer live trading accounts from just $1. Account holders are assigned personal account managers whilst the account has floating spreads.
$25,000 is the least amount required to open this account. Account holders receive premium signals. Floating spreads are offered on trading instruments.
The minimum deposit required is $100,000. Account holders receive daily signals, private trading sessions, private one on one trading academy and trading commissions up to 10% discount. The spreads on this account type are fixed.
A minimum deposit of $250,000 is required to open this account. In addition to the benefits enjoyed by elite account holders, elite plus account holders are given access to the event room and they also enjoy a trial of the brokers VIP services. 25% discount of trading commissions is given to elite account holders. Fixed spreads are offered on all instruments.
This is the flagship account with all the benefits fully available. The minimum deposit is $1 million. Webinars and video courses are exclusive on this package. Account holders enjoy up to 50% discount in trading commissions. VIP services are available on this package and fixed spreads are offered on tradable assets.
On request, regular accounts can be converted to swap free Islamic accounts. But, this is strictly for Muslim faithfuls who are forbidden to accept or pay interests by reason of their faith. Fundiza states that it has the right to approve, decline or revoke Islamic accounts.
At the moment, there is no demo account server and demo accounts cannot be created though there is provision for it in the clients’ area. This is disappointing as potential clients may wish to trial the brokers services and practice their trading strategies with virtual funds before committing to a live trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this Fundiza review. It is imperative to ensure that you check and understand all of the latest information before you open a Fundiza broker account for online trading.
The support department is always available 24/5 to attend to enquiries, questions and to resolve client problems. They can be reached via live chat on the website, email and through the support phone line.
Fundiza Deposit & Withdrawal
Fundiza accepts various payment options. There are no commissions on deposits. Withdrawal requests are processed within a day but it can take 1-5 days before reaching the clients.
Here are acceptable payment options:
This is an American cryptocurrency exchange company that exchanges cryptos with fiat currencies and vice versa. Coinbase processes cryptocurrency payments for Fundiza. Clients can fund their accounts with Bitcoin cash, Dai, Ethereum, Litecoin and USD coin.
Fundiza accepts payments using Bitcoin. Once the client inputs the amount he wishes to pay in his base currency. Fundiza simply displays its Bitcoin wallet address and amount to pay in BTC.
Visa and Mastercard are the acceptable cards used for payment and withdrawals. The payments are processed instantly.
Bank Wire Transfer
This method is one of the slowest as it takes 2-7 days to complete. The minimum withdrawal amount using this method is $50.
The e-wallet payments accepted are Skrill and Neteller. The payments are processed within a day.
Fundiza: Account Opening
To create a trading account with Fundiza, you can visit the brokers website and click on ‘Get started’ which is on the top right hand side of the homepage. The form below will be displayed.
Choose a base currency, fill in your date of birth, phone number, email, name, address, etc and click on ‘submit registration’. Next, you are prompted to deposit funds and then verify your account by uploading relevant documents. You are then logged into the clients’ area of the website. Fundiza verification team will verify submitted documents and approve the account before live trading can commence.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Fundiza is regulated by the FSA BVI and state that they protect clients’ accounts with fund segregation and SSL encryption technology. The broker has over 500 trading instruments with multiple account types and funding options to choose from including e-wallets and cryptocurrencies. The provided MT5 trading platform is powerful, versatile and scalable. It is an excellent choice as it suits many types of traders, levels, strategies and also supports mobile trading.
However, the absence of demo accounts and training resources may deter new traders from using Fundiza. There are no in-house team of analysts that will present daily news, analysis and insights. There are also no trading tools provided whilst the minimum account opening deposit of $5,000 is large when compared to competing brokers that allow clients to commence live trading with as little as $1. Furthermore, many traders are not comfortable with offshore regulators as they cannot offer clients the same protection.
Investing in the financial market and in leveraged products is connected with risks which may not be suitable for all investors. Do not risk more than you are prepared to lose. Before trading with us, please ensure that you understand the risks involved while considering your level of experience. Seek independent advice if necessary.