"No Comment"

finmarket-logo

Broker Information

  • Company Name: K-DNA Financial Services Ltd
  • Founded: 2015
  • Country: Cyprus
  • Phone: +35725254070

Platform Info

  • Platform: Panda
  • Dealing Desk: Yes
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: CySEC
  • Minimum Deposit: $250
  • Leverage: 1:30
  • US Clients: No
  • Funding Methods: EPS, GiroPay, Rapid Transfer, Nordea Solo, Klarna, Skrill, Credit Cards (Visa/MC), EFT
  • Pairs Offered: 200+

Finmarket Review

Founded in 2015, Finmarket may not be one of the veterans of the FX / CFD scene, but neither is it a rookie.

Interestingly, although it has been running for 4 years, it has not accumulated much in the way of relevant feedback from real traders. It does not have a TrustPilot page and does not seem to be dealt with in any of the other major FX message boards.

While there are some reviewers who do not seem to think much about it, they do not provide any evidence to argue your case. In fact, most of these reviews do not indicate exactly what they do not like about Finmarket.

Some of these have poor English and broken too, so we can not exclude the possibility that they are really just cheap hit pieces.

The regulatory status of the brokerage may not be particularly impressive, but it makes the cut. Based in Cyprus (at 56 Griva Digeni Avenue, Anna tower, First floor, 3063, Limassol), the corridor is regulated by CySEC, one of the most popular regulators (as far as brokers are concerned).

The license number of the brokerage is 273/15. Therefore, the license allows the broker to provide financial services based on derivatives, personalized business accounts and access to personalized support.

Cyprus is a member of the EU and CySEC is an EU regulator, which means that Finmarket should be able to legally sell its commercial services throughout the EEA, in theory. However, there are a number of countries in the Economic Area that observe very restrictive laws regarding the trading of derivatives, such as Belgium, and there, Finmarket can not operate.

In addition to Belgium, the broker also does not accept merchants from the United States, Iran and North Korea.

That said, we must bear in mind that Finmarket is compatible with MiFID.

The corporate operator of the Finmarket brand is one K-DNA Financial Services Ltd, based on the abovementioned address.

finmarket

K-DNA is an investment company registered in Cyprus and, as such, offers its clients a series of protections derived from the legal obligations entailed by their state.

Money deposited by merchants is kept in segregated bank accounts, for example, and the brokerage is a member of the Financial Compensation Plan.

Why would a rank and file merchant consider interesting and attractive Finmarket services?

The agent provides access to 3 powerful commercial platforms, which cover the entire ranges of mobile and desktop platforms.

24-hour support is available in several languages and the broker’s market coverage is quite exceptional. In addition to the “inherited” asset classes such as Fx pairs, indexes and various commodities, Finmarket also supports cryptocurrencies.

The minimum deposit required is only $ 250, which makes Finmarket accessible to almost anyone interested in making transactions.

Trading Platforms

The backbone of the brokerage trading platform is, without a doubt, MT4. The creation of MetaQuotes is the most popular commercial platform for several reasons.

In the first place: it is frankly unbeatable in terms of graphics and technical analysis. What it offers in this regard is best described as a “fully customizable business environment”.

Timeline scores are supported, and custom graphics can be saved as templates for later use. The MT4 usually comes with around 50 pre-installed technical indicators, although this does not mean that operators can not add more on the line.

In fact, operators are free to create their own technical indicators, using the powerful programming language available in the MT4 suite, or they can buy these indicators from third parties and install them.

The same happens with EAs. MT4 users love the Expert Advisors, since they operate automatically according to the parameters defined by the operators. When combined with a custom script and a good VPS service, they can completely transform one’s trading game.

MT4 supports one-click trading and a more than comfortable number of order types.

finmarket

The platform can be downloaded for free, directly from the official Finmarket site.

The WebTrader offered by Finmarket is for those who, for whatever reason, can not download MT4 and install it on their local computers.

When it comes to browser-based trading, WebTrader is an excellent solution. With excellent compatibility with the main web browsers, it offers an excellent commercial experience and an impressive set of features.

WebTrader supports one-click trading, as well as advanced graphics and analysis, with an impressive amount of time frames. In accordance with the individual interest of the users, its function of Trading Cubes offers the most popular assets and business opportunities.

This type of platform also comes with a social commerce function, which allows users to see and copy the exchanges made by their more experienced and knowledgeable peers. The broker accepts no responsibility with respect to the profits and losses that merchants obtain when using this function.

The Finmarket Mobile Trader is available in 2 versions: one for Android and another for iOS.

Both applications offer an incredible set of commercial tools, graphics options and technical indicators. Both can be used as full-fledged environments for moving commerce.

Deposit/Withdrawal Methods

Merchants can make their deposits through a selection of credit cards (VISA, MasterCard), as well as eWallets and other online payment solutions, such as Skrill, GiroPay, Klarna, Rapid Transfer and EPS.

Withdrawals are processed within 48 hours.

Account Types

The most basic of the account types offered by Finmarket is blue. The minimum deposit required for this type of account is $ 250.

The Blue Account covers about 50 negotiable assets, and has floating differentials from 0.4 pips.

The Silver Account considerably increases the bets: it requires a minimum deposit of $ 5,000. Floating spreads start at 0.2 pips. You can access about 70 negotiable assets through this account option.

The Gold Account requires a minimum deposit of $ 20,000. In exchange for that, traders get access to more than 100 tradable assets, and spreads start at 0.1 pips.

The Elite membership presents, in general, the same commercial conditions as the Gold option. However, for the minimum deposit of $ 50,000, operators are offered personalized assistance, access to the VoD Library, daily market reviews and an interesting selection of negotiation tools, not to mention a course of the Stock Exchange of London.

In addition to these “standard” account options, a free demo account and an Islamic account type are also available.

The minimum deposit for the Islamic account is $ 500. Floating spreads start from 0.65 pips in this case.

The maximum available leverage is 1:30 on all previous account types.

It should be clear that you can not buy the cryptocurrencies of the corridor. The trading of these assets is carried out through financial derivatives denominated CFD.

Conclusion

Finmarket seems a decent business destination. It is accessible and its commercial conditions, as well as commercial platforms, are more than decent.

Beyond the commercial tools presented by its platforms, Finmarket offers integral education. There is a trade academy on the official site, with strategies, tutorials, a VoD file, as well as courses aimed at beginners.

The account types detailed above satisfy all possible needs.

Regarding the drawbacks, the agent does not offer localized support, and some say that multilingual support is only available on paper. You can contact the Finmarket support through [email protected]

The website does not currently have a section of frequently asked questions.

Please note that certain products and / or multiplier levels may not be available to traders in EEA countries due to legal restrictions.

 

Comments on the Finmarket Review

Close Menu