Finq.com Review 2022

3.4
Stop United States not accepted.

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Finq.com is an online CFD trading broker offering 2100+ assets on a proprietary WebTrader terminal and MetaTrader 4.

Pros

  • Up to 1:300 leverage
  • 24/5 customer support
  • 2100+ financial instruments
  • Negative balance protection
  • Free deposits and withdrawals
  • Joining bonuses and loyalty rewards

Cons

  • No MetaTrader 5 platform
  • Limited regulatory oversight
  • Narrow range of trading tools
Bonus$50 Welcome Bonus
InstrumentsShares, forex, commodities, indices, bonds, cryptocurrencies, ETFs
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 lots
Regulated ByFSA
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralYes
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountYes
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS, Android & Windows
Margin TradingYes
Volatility IndexYes
Spot TradingYes
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingNo
TournamentsNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerYes
Auto TradingEAs (MT4)
Social TradingNo
Copy TradingNo
Islamic AccountYes
Account Currencies
  • USD
  • ZAR
  • RUB
Inactivity Fee$1
Guaranteed Stop LossNo
Stock Exchanges
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • FTSE UK Index
  • Nasdaq
  • S&P 500
Commodities
  • Coffee
  • Cotton
  • Gold
  • Oil
  • Silver
  • Wheat
CFD TradingFinq.com offers highly leveraged CFD products on traditional financial markets.
CFD FTSE Spread2.0 pts
CFD GBPUSD SpreadFrom 1.0 pip
CFD Oil Spread3.0 pips
CFD Stocks Spread<0.25%
CFD Leverage1:300
Forex TradingForex trading is offered on 55 pairs, with spreads from 1 pip on standard accounts and from 0.8 pips on the classic ECN account.
Forex GBPUSD SpreadFrom 0.8 pips
Forex EURUSD SpreadFrom 0.8 pips
Forex EURGBP SpreadFrom 0.8 pips
Forex Assets55
Crypto TradingFinq offers tight spreads on leading cryptocurrencies with 1:2 leverage.
Crypto SpreadFrom 0.8 pips
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BCH
  • BTC
  • DASH
  • ETH
  • LTC
  • XRP
Risk Warning – Your capital is at risk

Finq.com is a multi-asset CFD broker offering trading opportunities on forex, stocks, commodities, indices, cryptocurrencies and more. Trade on the powerful MetaTrader 4 terminal or access the proprietary Finq WebTrader. With tight spreads, a large range of assets, and a minimum deposit of $100, Finq is growing quickly. This review will cover account types, volume bonuses, platform features and more. Find out whether our experts would recommend Finq.

Finq.com Headlines

Finq is a web-based forex and CFD brokerage launched in 2017. Operated by Dilna Investments Ltd, it is still a relatively new brokerage in the market, but has established itself thanks to its ‘think trading, think Finq’ vision.

A large welcome bonus and a $10,000 free demo account has also made it attractive to beginners. In addition, the online brokerage offers a wide selection of fee-free deposit and withdrawal methods, including Visa, Mastercard, Neteller and Skrill. More than 2100 assets are available to account holders.

Finq has headquarters located in the Seychelles and is regulated by the Seychelles Financial Services Authority (FSA).

Trading Platform

Finq offers two trading platforms to day traders; a proprietary WebTrader and MetaTrader 4 (MT4). The MetaTrader 4 platform is best suited to forex and CFD traders while the WebTrader solution may be a better fit for clients trading equities.

The brand’s web-based platform can be used directly through all major internet browsers. MT4 can be downloaded to Windows and Mac devices or can also be used as a web-based profile. Useful download links are available on the broker’s website. Note, our experts found that it is not possible to trade all instruments through just one platform.

MetaTrader 4

MetaTrader 4 is an established platform developed for trading commodities and FX, among other assets. It is user-friendly and the gold standard in the retail investment industry.

The terminal provides a multilingual interface, 30+ built-in technical indicators, nine timeframes, instant execution, and a comprehensive technical analysis package. It also offers automated trading, with the ability to test strategies using MetaEditor, Strategy Tester and Compiler.

Finq.com trading platform
MetaTrader 4

WebTrader

Alternatively, WebTrader offers advanced tools, with a fully customizable trading suite that doesn’t require any computer software installation. It harnesses cutting-edge web technology to provide top-class functionality.

When using the Finq platform, we came across some interesting tools such as the ‘Events & Trade’ function to pinpoint the movement of instruments from the economic calendar. Overall, the platform is basic but ticks most of the boxes for the average retail trader.

Assets & Markets

Finq offers 2100+ global instruments across seven asset classes:

Finq.com price quotes

Spreads & Commission

The broker offers fixed spreads across all assets. When we used the Finq platform we were offered spreads from 0.4 pips on Gold trading, from 1.0 pip on the EUR/USD and GBP/USD currency pairs, and 1.4 pips on the NASDAQ100 and DAX30.

Accounts will incur a commission fee for shares trading only. This is tier-based, with the Silver profile acquiring the highest cost at 0.20%. ECN accounts will also be liable for an $8 per round lot commission fee when trading forex and precious metals.

An inactivity fee applies to accounts that haven’t been used in over one year, though this costs just $1.

Finq also has an overnight toll, known as a swap fee, for positions held overnight. This won’t affect day traders if positions are closed during market hours.

There are no fees or commissions on deposits or withdrawals, however, third-party charges may apply.

Finq Leverage

As an offshore organization, the broker offers substantial margin trading opportunities due to the limited regulatory restrictions. The maximum leverage offered to day traders is 1:300, though this does vary by asset.

When we used Finq, our experts were offered leverage of 1:200 for indices investments and 1:2 for cryptocurrency trades. The risk increases with higher rates so we would recommend newer traders to stick with lower leverage levels to start with.

Mobile App

If you aren’t able to sit in front of a computer for hours every day and your schedule involves long commutes or time outside the office, Finq.com has a polished and user-friendly mobile application. You can download it from the App Store for iOS devices and the Google Play store for Android. The platform has positive user reviews and over 70% of Finq traders currently already use the mobile app.

When we tested the Finq app, we were pleased with the execution speed and fully functioning asset displays. The interface is intuitive with simple navigation features. Day traders can review a ‘trending now’ asset list and utilize various order types such as Take Profit or Stop Loss.

Finq review
Finq Mobile Trading

Additionally, the MT4 mobile app enables retail clients access to the tools, features and functionality found on the desktop terminal. You can check live global pricing, manage your account, open and close positions and view charts while on the go. Similar to the branded WebTrader, user reviews are positive, rated 4.8 out of 5 on the Apple App Store.

Deposits & Withdrawals

It is good to see the broker does not have a deposit or withdrawal fee for any payment method, although third-party charges may apply. Accepted payment methods include; debit/credit cards, bank wire transfers, Neteller, FasaPay and Skrill. You can make withdrawals through the same channel you make deposits.

Processing times vary by method, with bank wire transfers typically taking around two to five working days for funds to clear. E-wallet solutions such as Neteller and Skrill may provide faster deposit times.

The minimum deposit and withdrawal amount is $100.

Finq Demo Account

You can create a demo account with Finq when you first sign up. Users can access $10,000 virtual funds to practise trading risk free. The simulated account currencies you can try are USD, RUB, and ZAR.

Traders can also use the introductory wizard, with step-by-step guidance on the trading platforms. You are free to experience the simulated markets in more depth after this.

Bonuses & Deals

Finq offers several promotions:

Regulation & Licensing

Finq is not as strong as some of its competitors in terms of regulation. This is because it only holds a license with the FSA in Seychelles, which is not one of the most reputable regulators. There are no strict rules and criteria that must be met to obtain a license from the organization, which may be a red flag for some investors. And while this should not alone lead you to conclude that Finq.com is a scam broker, you should be aware that protection may limited vs top-tier regulators such as the FCA or CySEC.

Recommended Alternatives To Finq.com

  1. OANDA offers 70 forex pairs with two competitive pricing models and a substantial welcome deposit bonus

    OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

  2. 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.

  3. NinjaTrader offer investors futures and forex trading. Use auto-trade algorithmic strategies and configure your own platform while trading with the lowest costs.

Finq Accounts

Finq offers various accounts for different types of traders. The classic account profiles (Silver, Gold and Platinum) are suitable for beginner and intermediate traders to access forex, stocks, indices, ETFs, commodities and bonds. The ECN profiles are best suited for high volume or intermediate traders, that prefer to work with low spreads in a direct-to-market environment.

The broker offers six accounts in total, all of which have:

Silver Account

Gold Account

Platinum Account

Exclusive Account

Classic ECN Account

Pro ECN Account

Finq also offers an Islamic swap-free account for their clients.

It is quick and easy to register for a new profile. To open an account, visit the ‘Start Trading’ link on the top right of each web page. Complete the online application form. The broker requires a proof of identity such as a utility bill or passport.

To close an account, contact the brokerage via their support email address.

Advantages

Benefits of registering for a Finq.com account include:

Disadvantages

While using Finq, our experts also found several drawbacks:

Additional Features

The broker includes an extensive education section on its site, ideal for both new and experienced day traders. When we used the resources on Finq.com, we were pleased withe the selection of video lectures and web tutorials, creating a full, comprehensive online academy.

Traders should also be assured of the step-by-step guidance and detailed FAQ section available for the bespoke WebTrader platform. You can also find an economic calendar and weekly CFD expiration dates.

Finq.com broker review
Economic Calendar

Trading Hours

Finq trading hours will vary by instrument. The 2100+ assets span 24/5 to accommodate the trading hours of the relevant global exchanges and markets. There is also weekend trading on a number of instruments, including cryptocurrency.

Review the published session timetable via the broker’s terminal interface. This is particularly useful to stay up to date with upcoming market closures.

Customer Support

The broker can be contacted via email (support@finq.com), live chat services or WhatsApp. Alternatively, contact Finq via their head office address; Suite 3, Global Village Jivan’s Complex, Mont Fleuri Mahe, Seychelles.

Help is available 24 hours a day, Sunday 5 PM (EST) to Friday 4PM (EST).

Security

When using Finq, we found limited information regarding client security and safety. Nonetheless, the broker does segregate client funds within top-tier banks and the firm operates a negative balance protection system, meaning you cannot lose more than your initial investment. Data transmissions are fully encrypted using SSL Secure.

We did not find any evidence of additional security settings such as two-factor authentication (2FA) when using the Finq platform, however this is offered as standard by MetaTrader.

Finq.com Verdict

Finq.com offers a well-rounded brokerage for investors who wish to trade a diverse range of assets in CFD form through a market-maker execution model. It is particularly useful for individual stocks and shares, plus ETFs. However, users should proceed with caution as the broker’s financial credentials are not regulated by the most reliable of authorities. This means there is an element of risk that may deter some traders.

Accepted Countries

Finq.com accepts traders from Thailand, United Kingdom, South Africa, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most other countries.

Traders can not use Finq.com from Australia, Canada, Congo, Eritrea, Hong Kong, Israel, Japan, Libya, New Zealand, Cyprus, Korea, Russian Federation, Singapore, Somalia, Sudan, United States, United States Outlying Islands, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

Compare Finq.com

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

  1. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  2. World Forex – World Forex offers 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.
  3. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  4. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.79% of retail CFD accounts lose money.

Finq.com Comparison Table

Compare Finq.com With Similar Brokers
Finq.com IG Group World Forex InstaForex eToro
Rating 3.4 4.4 4.1 4.1
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $100 £250 $1 $/€1 $10
Minimum Trade 0.01 lots 0.1 lots 0.01 Lots 0.01 Lots $10
Regulators FSA FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin SVGFSA BVI FSC FCA, CySEC, ASIC, FSA
Bonus $50 Welcome Bonus 100% Deposit Bonus 30% – 100% Welcome Bonus
Education No Yes No No Yes
Platforms MT4 MT4 MT4, MT5 MT4, MT5
Leverage 1:300 1:30 1:1000 1:1000 None
Payment Methods 8 6 10 11 14
Detailed Comparison Finq.com vs IG Group Finq.com vs World Forex Finq.com vs InstaForex Finq.com vs eToro
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Review Finq.com
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World Forex
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InstaForex
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Compare Trading Instruments

Compare Finq.com Trading Instruments
Finq.com IG Group World Forex InstaForex eToro
CFD Yes Yes Yes Yes No
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper No Yes No No Yes
Silver Yes Yes Yes Yes Yes
Corn No No No No Yes
Crypto Yes Yes Yes Yes Yes
Futures No Yes No Yes No
Options No Yes No No No
ETFs Yes Yes No Yes Yes
Bonds Yes Yes No No No
Warrants No No No No No
Spreadbetting No Yes No No No
Volatility Index Yes Yes No No Yes

Finq.com vs Other Brokers

Compare Finq.com with any other broker by selecting the other broker below.

Finq.com vs

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  3. Finq.com vs Axi

FAQ

Is Finq Regulated?

Finq.com is operated by Dilna Investments Ltd, which is also the website’s primary payment processor. Dilna Investments Ltd is working on behalf of its parent business, Leadcapital Corp Ltd, which the Seychelles Financial Services Authority classes as a Securities Dealer.

What Is The Finq Trading Commission For Forex And Metals?

Commission fees for forex and metals trading applies to the ECN accounts only. This is at a cost of $8 per lot. All other accounts can trade these assets commission-free.

Can I Trade On Finq From Qatar?

Yes, the broker offers services in Qatar. View our review for a full list of accepted countries.

Does Finq Have A Professional Investment Account?

Finq offers a Pro ECN and an Exclusive account, ideal for experienced or high-volume investors. However, they are not the same as other brokers’ traditional professional accounts and can be opened retail traders. View the account type section in this Finq.com review for more details.

Can You Trade Crypto On Finq?

Cryptocurrencies are a subcategory of foreign currencies on the WebTrader platform, with the primary instruments being Bitcoin, Ethereum, Litecoin, and Dash. Spreads vary from 0.8 pips and leverage is available from 1:2.

Can You Still Trade On Finq.com?

Yes, however Finq.com states the following “We do not establish accounts to residents of certain jurisdictions including the European Union, United States or any particular country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Finq.com is an online CFD trading broker offering 2100+ assets on a proprietary WebTrader terminal and MetaTrader 4.