Forex trading is a quickly-developing business which is becoming very popular all around the world. People have realized that the internet enables you to do business without having to deal with bureaucracy and many other complications. But in order to trade forex, you first have to find a broker you’d like to trade with.
In this in-depth analysis, we will introduce you to a broker called FinMarket. It’s a brand owned and operated by K-DNA Financial Services Ltd. which provides online forex and CFD trading services. We opened an account with this regulated company and traded on its website for a while, so this FinMarket Review will show you all the most important features you can find there. You don’t have to investigate on your own – we did it for you. Read our analysis and find out everything you need to know!
FinMarket Review | Make Your Deposit
As stated, forex is a business that can be done online. Besides being simple, it also saves time. If you decide to open an account with FinMarket, you can start you trading career in a matter of minutes. All you have to do is fill out a simple form, choose the deposit method, choose your account type and you can start trading right away.
First of all, you will have to fill out a list with the most basic information about yourself. That information includes your name, address, the country you currently live in and so on. Once you’re done with filling out the form, you will have to choose an account you’d like to use in trading. More on that can be found in the next paragraph of our FinMarket Review. On the account you choose depends on the amount of money you’ll have to invest as your first deposit.
There are several methods you can choose to make a deposit. You can choose between credit/debit cards (Visa, MasterCard and Maestro), wire transfer and ecoPayz. ecoPayz is an online payment method service – we’ve tested it and it works perfectly. In addition, every transaction will be executed reasonably quickly, within a few business days. The same goes for withdrawal. We have to tell you, though, that the method used for deposit has to be used for withdrawal, too.
In the next paragraph of our FinMarket Review, you can check out what are the accounts you can choose between. Stay with us and learn more about this broker!
FinMarket Review | Account Types
When you’re trading forex, you have to have as many options as possible, no matter if we’re talking trading options, assets you can trade and so on. The same goes for accounts – a good broker will provide its traders with different accounts, so that every trader can find something for themselves. That’s especially important if you’re a beginner. When you’re making your first deposit, you definitely don’t want to risk too much money. Luckily, FinMarket has various types of accounts you can choose between.
More precisely, FinMarket has four accounts in its offer: Mini, Standard, VIP and Premium. Mini account is made for beginners and requires only $250, which is pretty much a standard in the industry. This is the account with the most basic offer, but you still get some interesting features with it. For example, you get negative balance protection and 24 hours live support. Furthermore, you have the Standard account that requires a deposit of $1,000. It’s designed for those who already have some experience in trading. With Standard account one gets daily market reviews, but there are some other perks as well – personal account manager and personalized daily updates, for example.
There are two accounts that are made for professionals – VIP and Premium account. You will need to deposit $5,000 and $10,000 respectively for them, and they come with VIP trading support and daily recommendations from the company’s analysts.
At this point of our FinMarket Review, we’d like to mention some special promotion offers. These accounts are called Temporary Benefit, No Spread and No Commission and they are provided according to the company discretion upon written request from each client. Also, they are restricted for a specific time period determined by the company.
In the next paragraph of our FinMarket Review, you can read about one special account that can help you a lot in your trading – keep reading and check it out!
FinMarket Review | Demo Account
As is the case in any other business, it takes a certain amount of time to become a professional or experienced forex trader. The only difference is that, while practicing forex, there’s a chance that you can lose some money. That’s why it’s very important to know what you’re doing. In other words, you have to be prepared as much as possible before entering the real game. FinMarket allows you to do just that – to get the trading experience before actually investing real money. All you have to do is to open FinMarket demo account and you’ll be ready to go!
If you open a FinMarket demo account, you will have the opportunity to practice and get some valuable experience before risking real money. You can practice in a real trading environment – you will handle real time prices and you will have all the charts and tools at your disposal. Moreover, you will have enough time to completely adapt to a new trading environment, so you won’t be confused once you start trading for real.
We can say that this is an opportunity you shouldn’t miss, especially if you’re a beginner in the field of trading. Just open your FinMarket demo, try all the options and then invest for real.
The following part of our FinMarket Review will talk about the trading platform you’ll trade on once you open an account with the broker. Don’t go away and you will find out all you need to know about it!
FinMarket Review | MetaTrader 4
Every trader knows that MetaTrader 4 is the most popular platform in the entire industry. Although the new model – MT5 – has also been released, MT4 is still on the top. It has many advantages, so we’ll name only the most important ones here. First of all, it’s very quick. That means that it can process all your requests in an instant, which is of enormous importance when it comes to trading. Since prices can go up and down very quickly, sometimes seconds can mean the difference between winning and losing. Having that in mind, we cannot emphasize enough how important is to have a quick platform. Furthermore, FinMarket MT4 is very intuitively designed. Although it might not seem so attractive at first sight, it’s extremely functional and anyone can adapt to it fully in just a couple of trades.
The last thing we’d like to underline about FinMarket MT4 are the tons of options it has. In the first place, it has a massive toolbox with many powerful features you can use in trading. There are 30 built-in indicators, over 2000 free custom indicators and 700 paid ones. If you learn how to use, for example, Fibonacci tools or different charts, you will improve your trading big time.
Besides that, FinMarket MT4 offers you an option of receiving trading signals, so you will always be informed about the most important business events, which can help you if you trade both short- and long-term options.
There is also the option of remote trading, which will be analyzed next, so stay with our FinMarket Review!
FinMarket Review | Mobile Trading with FinMarket
The world of forex gets even more dynamic if you trade with FinMarket. This company has a special feature that enables you to trade anytime you want. If you download the FinMarket mobile app, you will get an opportunity to trade basically instantly whenever you want. There is only one condition – you have to have an internet connection. This feature can be especially useful if you like to invest in short-term options. This practically guarantees you won’t miss a single trading opportunity.
With FinMarket mobile app you will have all the options as if you were trading on the regular platform. In other words, you will have all the tools at your disposal, plus you will be able to use all charts and all trading alerts. The design is so great that you will barely feel a difference. You can just relax and trade.
There’s one more thing we’d like to put our emphasis on. The feature is called WebTrader and it provides you with access to market information from any internet connected device that supports a web browser. It also allows you to access detailed statistics about all open and closed trades in a visual fashion. Also, many methods, analysis and statistics can be viewed over multiple time frames.
FinMarket Review | Tradable Assets
When you open an account with FinMarket, you will see that forex isn’t the only thing you can trade. This broker offers you many other tradable options: with FinMarket you can trade forex, CFDs, indices and commodities. In this paragraph of our FinMarket Review we’ll present all of the mentioned assets, so that you know exactly what your options are.
Let’s start with the basics. Forex stands for foreign exchange, and it’s the world’s biggest market. This the market where currencies are traded, and it’s decentralized, meaning it doesn’t have any specific central marketplace. The forex market is open 24 hours a day, five days a week. Currencies are traded worldwide among big financial centers such as News York, London, Zurich, Tokyo, Hong Kong, Frankfurt, Paris, Sidney and Singapore. As already said, it’s the biggest market in the world and any person, firm or country may participate in it.
CFD stands for Contracts for Difference and designates an arrangement made in future contract. The catch with CFDs is that trader doesn’t actually own an asset – CFD only mirrors the movements of the asset underlying it. The profits or losses are made when the underlying asset moves in relation to the position taken. It’s basically a contract between the client and the broker. Trading CFDs brings you higher leverage and that’s main advantage of trading CFDs.
Besides that, you can trade indices and commodities that need no special explanation.
FinMarket Review | Safety
In the world of trading security always comes first. Security should be the most important issue in every type of business, but it’s especially important when it comes to trading. When you’re trading, you’re investing your money in order to earn more money. The importance of safety here is obvious – all the channels where money passes have to be completely safe, and that’s exactly what your broker must provide – the safest trading environment possible. Besides money, there is one more element that needs special security, especially when it comes to the internet: your personal information. In order to trade, you have to disclose certain delicate information with your broker – for example, the number of your credit card. You simply have to be 100 percent sure that a broker guarantees a safety of these information. Although more on the broker’s safety you can read in our Is FinMarket a Scam? analysis, in this paragraph of our FinMarket Review we’ll inform you of some basic safety measures.
First of all, the company uses Secure Sockets Layer (SSL) software in order to protect information during transmission. In other words, all data transfers between server machines are transmitted using SSL encryption, so there’s no way someone abuses any of your information. Also, all financial transactions are handled by Level 1 PCI certified international payment service providers. Besides that, all communication between the company’s clients and data servers is encrypted so we can conclude that FinMarket is completely safe. We’d also like to mention that this broker is regulated by CySEC (Cyprus Securities and Exchange Commission), which is also a very important fact.
FinMarket Review | Contact and Support
In this paragraph of our FinMarket Review, we’ll discuss another element of the broker-client relationship. It’s something we use in many different aspects of life, but it’s especially important when it comes to trading – technical support. When you start trading, there will probably be some things you won’t figure out immediately. That’s why is very important that you have someone to help you and to guide you through the processes of depositing, withdrawing and, finally, trading.
Luckily, with FinMarket you won’t have any difficulties regarding technical support. We’ve tested them a couple of times and we’ve asked them all types of questions. We can say we were very satisfied with their response. Besides being very quick, they were also very patient. If you don’t understand something, guys from FinMarket’s support team will repeat and explain until you understand it properly. Having that in mind, you can completely relax – you always have FinMarket on your side.
As for the contact, you can call them on their phone number and you can send them an e-mail. Also, you can follow them on Facebook and Twitter.
FinMarket Review | Conclusion
There’s not much left to say in the conclusion of our FinMarket Review, so we’ll only repeat all the important features of the broker. First of all, we’d like to repeat that you can start your career with FinMarket very easily. All you have to do is to fill out a simple application form and make your first deposit. Both the application and deposit shouldn’t take you more than a couple of minutes. As for the money, the minimum deposit that guarantees you an account with FinMarket is $250. For that amount of money, you will become a holder of Mini Account. Besides Mini, there are Standard, VIP and Premium account, so you will definitely find something for yourself. There are also some special promotion accounts that you should definitely take a look at.
Once you open an account with FinMarket, you will get an opportunity to trade on a trading platform called MT4. This is the most popular trading platform in the world of forex. It’s designed intuitively, it has many cool analytical tools and it’s very quick. It also comes as an app, so you can trade anytime you want. Having in mind that forex is a very dynamic game this is something you should definitely take the advantage of.
We’d also like to mention that there are many tradable assets in FinMarket’s offer. Besides forex, you can also trade CFDs (that have bigger leverage than the rest of the offer), indices and commodities.
Having all that in mind, we think you should definitely open an account with FinMarket, make your deposit and try your luck today!