Finotec Forex Broker Review
| Name of the Company | Finotec Trading UK Limited |
|---|---|
| Established In | 1998 |
| Online since | 2001 |
| International Offices | United Kingdom |
| Payment Methods | Credit Cards, Debit Cards and Wire Transfers |
| Demo Account and Platforms | Meta Trader 4 and Sky Trader |
| Account currencies | Euro, Great Britain Pound, Japanese Yen and United States Dollar |
| Different Currency Pairs | AUD/CHF AUD/JPY AUD/NZD
AUD/USD CAD/CHF CAD/JPY CHF/JPY EUR/AUD EUR/CAD EUR/CHF EUR/GBP EUR/JPY EUR/PLN EUR/USD GBP/AUD GBP/CAD GBP/CHF GBP/JPY GBP/PLN GBP/USD NZD/JPY NZD/USD USD/CAD USD/CHF USD/CZK USD/JPY USD/NOK USD/PLN USD/SEK USD/SGD |
| Regulated or Registered By | FSA (UK) |
| Are US Traders Allowed? | No |
| Languages in which website is available | Arabic, Chinese, English, French, Greek, Polish, Russian, Vietnamese |
| Languages in which support is available | Arabic, Chinese, English, French, German, Hebrew, Italian, Polish, Portuguese, Russian, Spanish, Turkish, Vietnamese |
| Different Support Methods | Live Chat, Phone, call back, Email. |
| Types of Account (micro standard executive islamic) | Mini Account and Standard Account |
| Minimum Deposit in Accounts | $200 |
| Minimum position size | 0.1 lot |
| Type of Spread | Fixed |
| Minimum spread on EUR/USD, pips | 0.4 |
| Is Scalping Allowed | Not Allowed |
| Is Use of Expert Advisor Allowed | Not Allowed |
| Types of Trading instruments (GOLD; CFD, etc. and the leverage) | Forex |
| Real Trading platforms | Meta Trader 4 and Sky Trader |
| Digits after the dot in quotes | 5 |
| Total Number of Currency Pairs | 30 |
| Any Bonus offers | Yes |
| Any MAM accounts | Yes |
| Do they have Managed accounts | Yes |
| Islamic accounts available | Yes |
| Is Hedging Allowed | Yes |
| Do they have Trailing stop | Yes |
| Do they have Pending orders | Yes |
| Is One-click trading option Available | Yes |
| Mobile trading Allowed | Yes |
| Automated trading Present | Yes |
Finotech Trading UK Limited is a UK based company which was founded in the year 1998 but it started its internet based online trading service only in the year 2001. The company is well regulated by the regulating authority in UK that is FSA. They do not entertain traders from United States and are not allowed to trade from their account. They have many lucrative features which attracts new as well as experienced traders all over the world. They have many bonus offers which add to the funds of the traders. MAM and managed accounts are available for the traders. They also offer Islamic accounts which are a boon for the Muslim traders who follow the Islamic laws of trading. The trade is very fast with one click trading facility. They also allow trailing stops and pending orders during trading. Mobile trading facility allows traders always on move to keep trading via their Android phones.
The payment options are credit/debit cards and wire transfers. Though the modes of fund transfer and withdrawal is limited, the company makes sure that the traders do not have any issues during the process. EURO, USD, GBP and JPY is allowed as account currencies. They have 30 currency pairs which includes all the major pairs. The company also offers a practice or demo account with Meta Trader 4 and Sky Trader as trading platform. The trading platform for real trading is the same and hence the traders can get to know the various features of the platform while using the demo account. The website and the customer support service is multilingual and is available in 8 and 13 languages respectively. The customer service can be availed via live chat, phone, call back and emails and is very prompt and responsive. They offer mini and standard account and the minimum deposit required is $200.
Finding right broker to start forex trading is an uphill task. However, the reviews can be of great help in deciding the right broker. Finotech forex broker is a hit among the traders and the reviews posted online are very positive. The most loved feature of the company is its bonus as the bonus which previously was given for the first deposit has now been extended to first deposit every week. This is liked by many traders as it is an added advantage for all those brokers who need to deposit funds in their account frequently. The Meta Trader 4 and Sky trader platform also has great reviews and it is said to be very easy to use and helps in fast execution of trade. Some of the traders have written in their reviews that the Meta Trader 4 platform does not highlight the limit profit and the Stop loss which may sometimes cause problems as placing a trade without it can be dangerous. Limited payment options have also been mentioned as a concern by some. The average rating given to the company by various users is 4.2 out of 10.