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The basic account with Finotec is called the Mini Account and it requires an initial deposit of $200 with a margin of 0.5%. The other available account type is the Standard Account with a minimum deposit of $10,000.
The advantage of having a Standard Account with Finotec is that you get a wide range of products to trade, including FX, commodities, CFDs and even stocks, indices and futures.
Finotec is powered by different types of trading platforms, including MetaTrader 4. They have also added Sky Trader recently and it is a highly professional downloadable trading software that comes with tons of features for advanced trading. Apart from these, they also have Currenex, Broker/Hedge Fund Manager Trading System and FIX API in their list of online trading platforms.
The main plus point for Finotec is that it is a FSA Regulated company and they provide a wide range of products to trade for the Standard Account holders. The Mini Account suits best to those who are looking to get their feet wet with a good forex trading platform.
For new traders, the demo account at Finotec is something which is most recommended as it will give you the real feel of the actual Finotec trading platform. You can open up a demo account within seconds and start trading with the $100,000 virtual money.
Click Here to open a Free Demo Account with $100,000 credit now!
Some Features of Finotec
- FSA Regulated
- Low Spreads up to 3 pips
- Minimum Deposit: $200
- Advanced Platforms, including MT4 and Sky Trader
- Personalized Account Manager
- Support through Phone, Chat and Email
- SMS Price Alerts and Real-time Charts
- Newbie Friendly Demo Account with Quick Setup
Some Basic Details of Finotec
- Founded Year: 1998
- Head Quarter: London, UK
- Language Supported: English, Hebrew, Polish, Russian, Spanish, Turkish, Greek, Vietnamese, Romanian, Arabic, Chinese, French
- Currencies Supported: GBP, USD, EUR
- Money Transfer Methods: Credit Cards, Bank Wire Transfer
Click Here to open a Free Demo Account with $100,000 credit now!
Although the options are little limited for the Mini Account holders, Finotec is considered a great forex broker for advanced traders with some of the best trading platforms available today.
For newbie traders who are looking for place to learn the in and outs of the FX trading, they can start with Finotec by opening a demo account. If you go live, Finotec will also provide a Personalized Account Manager from whom you can get 1-on-1 support, which will be really helpful, especially for the new traders with a Mini Account.
Customer Reviews and Ratings
Out of the 120+ reviews that we have collected on Finotec, 64% suggested that Finotec is a good place to start your forex trading journey, especially with their feature-rich demo accounts. Here are a few that we thought are worth mentioning.
“I started out with Finotec’s demo account and I am really glad I did. There are so much to learn. I was able to jump into real trading after just 1 month and Finotec provided a 1-on-1 support that really helped me learn the ins and outs of online forex trading” – Andy, UK
“Overall, Finotec was a good forex company. I now trade on many platforms, but when I started, the really liked the tech support they provided to new traders like me. I also found their daily market analysis reports very helpful in pushing my learning curve” – Oliver, Bristol
Click Here to open a Free Demo Account with $100,000 credit now!
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