Finexo Review 2023

2.5
/ 5
Finexo is #115 in our CFD broker rankings.

Finexo is a multi-asset online broker regulated by the CySEC.


Trusted

Demo Account

MetaTrader 4

Trade Signals
$100
MT4, TradingCentral
Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds
-
Neteller, Skrill, Visa

Forex Trading

Trade major, minor and exotic FX pairs.

Stocks Trading

Trade stocks in 250+ leading companies, including Facebook and Google.

CFD Trading

Trade online CFDs across multiple markets with up to 1:30 leverage.

Crypto Trading

Go long and short on cryptocurrency coins.

Finexo is an international forex broker, offering a range of assets and the MT4 trading platform. This review looks at account types, spreads, payment methods, and customer service. Find out if you should start trading with Finexo.

Finexo Company Details

Finexo, operated by Trade Capital Market (TCM) Limited, is a CFD provider based in Nicosia, Cyprus. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Due to its diverse product list and customer service, Finexo appeals to traders of all abilities from around the world.

Trading Platform

MetaTrader 4

Finexo offers the world’s most popular trading platform, MetaTrader4 (MT4), suitable for all levels and hosting a range of features:

Finexo MT4 platform
Finexo MT4 platform

MT4 can be downloaded directly from the broker’s website.

WebTrader

Finexo offers the latest generation of the WebTrader platform, offering over 2,100 assets in forex pairs, cryptocurrencies, global exchanges, and commodities.

Features include:Finexo MT5 platform

WebTrader can be accessed from any supported web browser once you have created an account.

Trading Assets

Finexo offers trading in a range of markets:

Spreads & Fees

Spreads on major forex pairs such as GBP/USD and EUR/USD start at 3 pips. For EUR/GBP, the lowest spread is 4 pips. For indices, spreads start at 2 points for the FTSE 100 and 1 point for the S&P 500. Spreads are tighter for other assets, for example, 0.05 for crude oil, and 0.7 for gold.

Traders can enjoy more competitive spreads with a larger deposit. With the Gold account for example, a $10,000 deposit gets you spreads as low as 1.5 pips for major currency pairs.

Other fees to be aware of include swap fees on overnight positions and a monthly inactivity fee charged to accounts unused for more than 90 days.

Leverage

Finexo offers varying leverage depending on the asset:

Mobile App

Finexo offers mobile trading through the MT4 app and WebTrader. The app can be downloaded to iOS and Android smart devices. Mobile users benefit from multiple chart types, built-in indicators, one-click trading and visual market data. Deposits, withdrawals and customer service can also be accessed from mobile devices.

The app can be downloaded from the App Store or Google Play Store.

Payment Methods

Deposits

Traders can make deposits via a range of fee-free methods, including credit/debit cards, bank transfer, Neteller, Skrill, and Multibanco. Traders should check for any intermediary fees charged by the chosen payment method. Most deposit transactions are processed instantly. The minimum deposit is $100.

Withdrawals

Withdrawals can be made via all the same deposit methods. Again, the broker does not charge any fees, but additional fees may be charged by the chosen payment provider.

Demo Account

Finexo offers a demo account where users can practice trading in real-market conditions. Users will be given $10,000 in virtual funds to practice with. Once you’re confident with your strategy and comfortable with the platform and trading conditions, you can then open a live account.

Deals & Promotions

Finexo does not currently offer any bonus deals or promotions. Check the broker’s website for news of future promotions.

Regulation

Finexo.com operates under Trade Capital Markets (TCM) Limited, a Cyprus Investment Firm (CIF). The company is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and authorised by the FSCA South Africa. As part of regulatory requirements, Finexo submits financial audits to CySEC. A financial compensation scheme up to €20,000 is also in place.

Additional Features

One area that needs improving is the lack of educational resources and trading tools, especially given that the broker aims to attract traders of all levels. Apart from the demo account, beginners will probably need to look elsewhere for anything that might help them get started trading.

Finexo economic calendar
Finexo economic calendar

Account Types

Traders have five account types to choose from at Finexo: Micro, Silver, Gold, Platinum, and Exclusive. As expected, account sizes increase rather dramatically from $100 to $100,000 as you move from the Micro to the Exclusive account. Spreads will also get tighter, going from 3 pips for EUR/USD in the Micro, down to 1 pip with the Exclusive.

Most other features seem to be shared by all the accounts, except you will not get an account manager or daily analysis with the Micro account. Premium daily analysis and Trading Central are not available until you get to the Gold account.

Benefits

There are several advantages of trading with Finexo:

Drawbacks

Downsides of opening a Finexo account include:

Trading Hours

Currencies can be traded 24 hours a day, 5 days a week, from Sunday at 21:05 GMT (when Asian markets open) to Friday at 21:00 GMT (when US markets close). Trading hours for specific pairs vary and can be viewed on the Forex asset page.

Note that trading hours for other assets vary by instrument and by which platform you are using. Specific times are given on the relevant asset pages on the website.

Customer Support

Users can contact Finexo customer service 24 hours a day, from Sunday at 22:00 GMT to Friday at 22:00 GMT, via the following methods:

On testing the live chat service, responses were received within a few minutes and were very helpful.

Finexo’s head office address is 148 Strovolos Avenue, 1st floor, CY 2048, Nicosia, Cyprus.

Finexo Security

Finexo displays a Secure Sockets Layer (SSL) encryption badge at the bottom of the website. In the event of liquidation, the broker ensures that all client funds are segregated from its own in separate bank accounts.

Finexo Verdict

Despite the lack of educational tools, Finexo offers no-commission accounts, fee-free payment methods, helpful customer service, and the MT4 trading platform. The broker is a particularly good choice for traders with large initial deposits who can capitalise on the tighter spreads.

Accepted Countries

Finexo accepts traders from Australia, Thailand, United Kingdom, 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 Finexo from United States, Canada, Japan.

Payment Methods

Finexo Details

Minimum Trade 0.01 lots
Regulated By CySEC
Islamic Account Yes
Mobile Apps Yes
Margin Trading No
Volatility Index No
Spot Trading No
Perpetual Swaps No
ELWs No
REITs 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
Auto Trading Yes
Social Trading No
Trade Signals Yes
Guaranteed Stop Loss No
Commodities
  • Cocoa
  • Gold
  • Natural Gas

CFD Trading Details

FTSE Spread 2
GBPUSD Spread 3
Oil Spread 0.05
Stocks Spread Vairable
Leverage 1:30

Forex Trading Details

GBPUSD Spread 3
EURUSD Spread 3
EURGBP Spread 4
Assets 55+

Cryptocurrency Trading Details

Crypto Spread Variable
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
Crypto Coins
  • BTC
  • DASH
  • ETH
  • LTC

Compare Finexo

Compare Finexo with similar brokers that accept traders from your location. Among available brokers these are the most similar to Finexo:

  1. OANDA – OANDA offers 70 forex pairs with two competitive pricing models and a substantial welcome deposit bonus
    Go to OANDA
  2. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
    Go to Forex.com
  3. Webull – Webull offers a popular online stock trading app with low fees and generous bonuses.
    Go to Webull

Finexo Comparison Table

Compare Finexo With Similar Brokers
Finexo OANDA Forex.com Webull
Rating 2.5 4.5 4.5 4.4
Markets Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds Forex Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $100 $0
Minimum Trade 0.01 lots $0 $1 $5
Regulators CySEC CFTC, NFA CySEC, IIROC, NFA, CFTC, FCA, CIMA SEC, FINRA
Bonus $5,000 welcome bonus with a deposit of $500 No Six free stocks
Education No Yes Yes Yes
Platforms MT4, TradingCentral MT4, TradingView, AutoChartist MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:30 1:30 EU, 1:200 Global 1:200
Payment Methods 3 12 8 3
Visit Visit Visit Visit
Review Finexo
Review
OANDA
Review
Forex.com
Review
Webull
Review

Compare Trading Instruments

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

Compare Finexo Trading Instruments
Finexo OANDA Forex.com Webull
CFD Yes No Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes No
Oil No No Yes No
Gold Yes Yes Yes No
Copper No Yes No No
Silver No Yes Yes No
Corn No Yes No No
Crypto Yes Yes Yes Yes
Futures No No Yes No
Options No No Yes Yes
ETFs No No No Yes
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

Finexo vs Other Brokers

Compare Finexo with any other broker by selecting the other broker below.

Finexo vs

FAQ

What accounts are available at Finexo?

Five account types are available; Micro, Silver, Gold, Platinum, and Exclusive. The accounts offer many of the same features, except the initial deposit ranges from $100 to $100,000. Spreads also vary depending on the account type.

What leverage is offered at Finexo?

Maximum leverage is 1:30 for major currencies and 1:2 for cryptocurrencies. For commodities and indices, maximum leverage is 1:20, whilst for bonds, stocks, and ETFs, leverage up to 1:5 is accessible.

How do I contact Finexo’s customer service?

You can contact Finexo via email, telephone, or live chat. We’d recommend the live chat service to begin with, as it’s quick and easy to get through to help.

Does Finexo offer mobile trading?

Yes, Finexo offers mobile trading on both the MT4 and WebTrader platforms. The fully-featured platforms are accessible from most smartphone devices.

What is Finexo’s address?

Finexo’s registered office is based at 148 Strovolos Avenue, 1st floor, CY 2048, Nicosia, Cyprus. The broker is also regulated by the Cyprus Securities & Exchange Commission (CySEC).

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Finexo is a multi-asset online broker regulated by the CySEC.