Financika Review 2023

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1 / 5
Financika is #109 in our CFD broker rankings.

Financika is a forex trading broker offering a proprietary platform & mobile app.


Bonus Offer
Forex, CFDs, indices, shares, commodities
Variable deposit bonus
Neteller, Skrill, Visa
Forex Trading

Trade with up to 1:100 leverage on over 40 forex pairs.

Stock Trading

Trade shares in some of the world's best known companies.

CFD Trading

Trade on close to 100 stock CFDs on leading global companies.

Financika Trade is an online forex broker, offering a range of financial instruments to both beginners and veterans. This review will guide you through the trading platform, spreads, minimum deposits, and more. Find out if Financika is the right broker for you.

Financika Details

Operated by Sharp Trading Ltd, Financika is registered with the Vanuatu Financial Services Commission (VFSC) and also operates as a European entity in Cyprus. The company’s customer service address is based in Bulgaria, but its clients can be found from Europe to Chile, Mexico, Peru, and Colombia.

Trading Platform

Financika offers WebPROfit, a non-downloadable trading platform suitable for all levels. Features of the web-based platform include advanced charting tools, one-click trading, no slippage, and direct platform support. To access these features users will need to open an account via an online form on the website.


Financika offers a variety of products:

Spreads & Commissions

For major forex pairs such as the EUR/USD and GBP/USD, spreads start from 3 pips – higher than at most other brokers. Brent crude oil is offered at a spread value of $0.12, whilst for silver and gold, it ranges from $0.04 to $1 respectively.

There are other costs to be aware of, for example, a swap fee on positions held overnight and a significantly high inactivity fee of $500, charged quarterly. This is much higher than fees levied against dormant accounts at other brokers.


Leverage at Financika ranges from 1:10 on CFD shares to 1:200 on commodities and forex with indices offered at 1:100. These are decent leverage rates and will allow traders to take large positions with minimal capital outlay.

Mobile Apps

Financika offers the WebPROfit platform in a mobile app, allowing users to manage their accounts and place trades as they travel. Mobile traders enjoy the same features as the web platform, including real-time quotes and charts, financial news, and fast account monitoring.

Financika mobile app
Financika mobile app

The app is compatible with all iOS and Android mobile devices and can be downloaded via the Play Store or App Store. desktop login credentials should work with the mobile app.

Payment Methods


Deposits can be made via credit card, bank wire transfer, and e-wallets (Skrill and Neteller). Note the minimum deposit amount for a credit card is $200. Credit cards and wire transfers take 2 – 5 business days to process, while deposits via an e-wallet can take up to 5 business days.


Withdrawals can be made via the same methods, with an average processing time of 4 – 5 business days. Financika claims they do not charge for withdrawals, however, many customer reviews online suggest otherwise. We recommend caution when considering a broker that has a history of bad withdrawal practices.

Demo Account

Financika does not offer a demo account. This is a real downside as a practice account is a great way to try a broker’s platform, instruments, and customer support before opening a real trading account.

Deals & Promotions

Clients are entitled to weekly bonuses, the amount and type of which will vary each week. Traders should check the broker’s homepage for updates on these bonuses.

New users receive trading credit upon opening an account, though information about sign-up deposit bonuses is limited. With that in mind, it’s worth speaking to the customer support team, using the details below, to find out more. Financika also offers traders investment protection on their first five trades, meaning beginners can test the waters in a safe trading environment. Note that this insurance is subject to the specific terms and conditions found on the broker’s website.

Regulation & Licensing

Financika (Sharp Trading) Ltd is registered and licensed by the Vanuatu Financial Services Commission (VFSC). It also operates under its European entity, Cubbon Services Limited, in Larnaca, Cyprus. However, the VFSC is not a well-respected body and it’s relatively easy for a potentially fraudulent company to secure a license.

Scam Warning

There are multiple customer complaints regarding scams at Financika. These reviews are particularly concerning given the lack of reputable regulatory oversight. Users are advised to carefully consider these warnings before trading with the broker.

Additional Features

Financika offers an Academy with tools specially designed for beginners. Features include a glossary of terms, the basics of trading, charts and technical analysis, plus video tutorials. Though there are some useful education tools on offer, they are not as comprehensive as those found at other brokers.

Other more practical tools include currency rates charts, a daily economic calendar, and forex video analysis.

Financika economic calendar
Financika economic calendar

Account Types

Financika only offers one standard account, which you can sign up for on the home page. The minimum deposit requirement is $200 and the maximum leverage is 1:200. Speak to the support team for account-specific questions.


Advantages of choosing Financika include:


There are some considerable drawbacks to using Financika:

Trading Hours

Users can trade forex and commodities from 22:00 GMT on a Sunday until 22:00 GMT on a Friday. CFD trading hours vary as follows:

Trading hours for individual indices also vary and can be found on the Indices page on the broker’s website.

Customer Support

Customers can access 24/7 support via:

Financika (Sharp Trading) Ltd is headquartered at Law Partners House, Kumul Highway, Port Vila, Vanuatu.

User Safety

Financika holds an eTrust seal, which indicates compliance with high standards of privacy and data protection. Trading systems are also secured with 128-bit Secure Sockets Layer (SSL) encryption. But due to its lack of regulation and unproven legitimacy, there may still be a risk to trading with Financika.

Financika Verdict

Although Financika does offer a decent range of educational resources for beginners, the single account offering and lack of demo account are fairly limiting. More importantly, the lack of top-tier regulation and concerns around scams may deter many prospective traders. See our list of alternatives.

Accepted Countries

Financika accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Financika from United States, United Kingdom, Spain.

Payment Methods

Financika Details

Minimum Trade 0.01 Lots
Regulated By VFSC
Islamic Account No
Mobile Apps Yes
Margin Trading No
Volatility Index No
Spot Trading No
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Social Trading No
Trade Signals No
Guaranteed Stop Loss No
  • Gold

CFD Trading Details

FTSE Spread Floating
GBPUSD Spread 0.0003
Oil Spread 0.12
Stocks Spread Floating
Leverage 1:10

Forex Trading Details

GBPUSD Spread 0.0003
EURUSD Spread 0.0003
EURGBP Spread 0.0003
Assets 46

Top 3 Alternatives to Financika

Compare Financika with the top 3 similar brokers that accept traders from your location.

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex
  3. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade

Financika Comparison Table

Compare Financika With Similar Brokers
Financika IG Group World Forex Just2Trade
Rating 1 4.4 4 3.5
Markets Forex, CFDs, indices, shares, commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds
Demo Account No Yes Yes Yes
Minimum Deposit $200 $0 $1 $100
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus Variable deposit bonus 100% Deposit Bonus Up to $2,000 for professional accounts
Education No Yes No No
Platforms Own MT4, AutoChartist, TradingCentral MT4, MT5 MT4, MT5, TradingCentral
Leverage 1:10 1:30 (Retail), 1:250 (Pro) 1:1000 1:20
Payment Methods 3 6 10 20
Visit Visit Visit Visit
Review IG Group
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by Financika and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Financika Trading Instruments
Financika IG Group World Forex Just2Trade
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver No Yes Yes Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures No Yes No Yes
Options No Yes No Yes
ETFs No Yes No Yes
Bonds No Yes No Yes
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Financika vs Other Brokers

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Customer Reviews

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Financika is a forex trading broker offering a proprietary platform & mobile app.


What trading platform is available at Financika?

Users can access web PROfit and mobile PROfit. The web-based platform is user-friendly with multiple chart types, technical indicators, and one-click trading.

What is the maximum leverage at Financika?

Financika offers maximum leverage of 1:200 on commodities, 1:100 on forex and indices, while leverage up to 1:10 is available on share CFDs.

What is the minimum deposit at Financika?

The minimum deposit amount is $200. Whilst not particularly high, there are also brokers that accept a lower minimum deposit, which may appeal to new traders.

Does Financika offer a demo account?

No, Financika does not offer a demo account. This is a serious drawback as it means prospective clients aren’t able to test the trading platform or broker’s services.

Is Financika a scam?

Financika claims to be registered under the Vanuatu Financial Services Commission (VFSC). Although this means the broker is licensed, the VFSC is not a well-regarded body and there are multiple complaints online that the broker is a scam. As a result, we’d recommend caution before opening an account.