Online Trading

Finq.com Review

4.5/5

Finq.com is a CFD trading platform that offers a wide range of assets within the CFD category. Finq.com has made a name for itself by offering more than 2,100 CFD assets with which to trade, including bonds, indices, Forex, ETFs, commodities, and stocks. Finq.com doesn’t charge commission, and its customer support is available twenty-four hours a day, five days a week.

Finq’s motto is, “Think Trading. Think Finance,” and it lives up to it by offering a lot of research and educational tools. This broker is relatively new, compared to some of the larger trading platforms out there, but it packs a punch and is already quite a competitor. Finq has signed up millions of traders already. In addition to zero commission, you can also get up to $4,000 in welcome bonuses. Below are the “pros” and “cons” of Finq.

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Finq.com Pros & Cons
Pros
  • Trade more than 2100 instruments from 7 asset classes including bonds and ETFs
  • Traders' Trend helps investors understand market sentiment
  • Zero commission model with starting deposits as low as $100 (for all assets except CFDs on Stocks)
Cons
  • No MT5 Offered (Only MT4)
  • No EU or American Traders
Who Is Finq.com Recommended For?

Judging from the reviews on the Finq website, this site is recommended for new and professional traders. There are a lot of educational tools that will teach you how to trade from the ground up. CFDs trading itself is not for inexperienced traders, so it is likely rare that a total novice shows up on Finq’s doorstep. However, it’s refreshing to know that this broker will, as one new trader said, “guide [you] on how to trade.”

 

Regulated By
  • Financial Services Authority (Seychelles)
Top Finq.com Features

Low Fees

When it comes to Finq.com, one of its best features what you don’t pay for, including free analysis tools like Trader Central. You also get a free economic calendar and free educational resources. Finq charges no commission fees on trades, withdrawals, or deposits, instead making money from the Bid/Ask Spread (explained in depth a few sections below). The lack of commissions and fees are two heavy-hitting bonuses.

Platforms Offered

Though Finq takes a hit when it comes to the fact that it doesn’t offer MetaTrader 5, it’s not all bad. In fact, the platforms that Finq does offer are quite high quality, including: WebTrader, App Trade, MT4, MT4 WebTrader, and MT4 for Mac. If you can look past the lack of MT5, you’ll be pleased with what you find.

 WebTrader

You can access more than 2,100 assets right from your browser. The execution with WebTrader, which is the non-downloadable client available at Finq.com, is fast, and you can build and control your portfolio through the website alone. Execution and features are all there, including limit and stop orders and take profit and stop loss. You’re able to access WebTrader 24/7 to control positions and timing.

 App Trade (WebTrader)

The WebTrader iOS and WebTrader Android are the mobile clients for this broker. You can access all of the assets on these apps, a major bonus, as other brokers sometimes have trouble granting mobile users the same level of access when it comes to proprietary apps. Trending Now (an asset list) and the Traders Trend Bar are both visible on the WebTrader App. Finq says that when it developed WebTrader for iOS/Android, it “prioritized” deposit and withdrawal requests, speed, and fully-functioning displays.

 MT4

 MT4 is a downloadable client that offers access to 370 assets, which cover five classes: commodities, indices, bonds, currencies, and global equities. The platform offers charting tools, instruments, and a lot of analysis. You can buy or sell, view trend-following tools and price movements, see volume tools from fellow Finq traders, and more. News, data, and customization are three other features offered by MT4 for Finq.

MT4 WebTrader

All the above MetaTrader 4 benefits are available with MT4 WebTrader, just on mobile. You can access MT4 WebTrader on iOS or Android.

MT4 for Mac

Lastly, if you have a Mac, MT4 for Mac is the best software to download from Finq, as it contains the tweaks and changes necessary to be compatible with the Apple system. Just like with MT4 WebTrader, you can access all the benefits of the MT4 client. The only difference is that this is specifically for Mac users.

Asset Range

Over 2,100 assets are available with Finq. These assets cover seven classes: stocks, indices, Forex, crypto, commodities, bonds, and ETFs. You can trade more than 2,000 stock CFDs and 28 major indices. For Forex traders, you can access EUR/USD, USD/JPY, GBP/USD, USD/CHF, GBP/JPY, EUR/JPY, and EUR/GBP pairs. Cryptocurrencies include Dash, Litecoin, Ethereum, and Bitcoin as the main assets, with leverage from 1:5. Commodities traders can trade soft and hard commodities, energies, and metals. Bonds include dollar bonds, Euro bonds, yen, and Sterling. Lastly, there are over thirty ETFs with which to trade.

Practice Account

Finq lets you try before you buy. You can access a free demo account with $10,000 in fake money. To use, you must create an account, but you do not have to deposit the $100 minimum just to practice.

 

Trading and Investment Tools Trading Platforms
  • MetaTrader4 By MetaQuotes Software Corp.
  • One Click Trading: Yes
  • Trade off Charts: Yes
  • Email Alerts: Yes
  • Mobile Alerts: Yes
  • Stop Order: Yes
  • Market Order: Yes
  • Trailing Stop Order: Yes
  • OCO Orders: Yes
  • Limit Order: Yes
  • 24hr Trading: Yes
  • Charting Package: No
  • Streaming News Feed: No
Finq.com Compliance & Regulation

Finq.com is actually a subsidiary of a company called Leadcapital Corp., which itself is part of Trade Capital Holding. Finq is based in Mont Fleuri Mahe in the Seychelles, and, therefore, it is the Seychelles government that regulates this broker. Finq’s registration number is No. SD007. On the Finq “Regulation” page, you can click the hyperlinks to see a detailed list of its terms, conditions, and policies.

Fees & Commissions
  • Rollover Fee: No
  • Margin Interest: Yes
  • Depositing Fees: No
Finq.com Pricing

As mentioned, Finq charges no commissions fees. Instead, it makes its money on the Bid/Ask Spread. You can calculate the Bid/Ask Spread by finding the difference in prices quote for an immediate sale of an asset and the immediate purchase of the asset. Essentially, it is the difference between the lowest price a seller for which a seller will sell and the highest price a buyer will pay.

 

Service Details
  • Supported Languages: Arabic, English, Indonesian, Malay, Urdu, Vietnamese
  • Customer Service By: Phone, Chat, Email
  • Customer Service Hours: 24/5
  • Telephone Orders: No
  • Personal Account Manager: Yes
Finq.com User Experience

When it comes to judging the user experience and reliability of Finq.com, you can look to aggregated review sites that take customer reviews and turn them into a ratings system (usually out of five stars). TrustPilot ranked Finq a 3.3/5. ForexPeaceArmy.com a 2.4/5, TradingBrokers.com a 2.4/5, and DailyForex.com a 4.4/5.

Final Thoughts on Finq.com

Overall, this broker is a new, yet well-rounded. Anyone looking to change up their trading routine and switch to a new broker would do well to try out Finq’s demo account. Those who are fond of the MetaTrader 4 will like that this tried-and-true downloable client is available for Mac and mobile users, and customers who want daily analysis and updates will also be pleased with this broker.

Trading Platform Screenshots
Contact Info
laptop Website: www.finq.com
laptop Email: support@finq.com
location_on Company Address:
Leadcapital Corp Ltd Suite 3, Global Village - Jivan’s Complex, Mont Fleuri Mahe, Seychelles
Finq.com FAQs

Q: What is Finq’s phone number?

A: The phone number for this broker is: +35722008069.

Q: What deposit/withdrawal methods can I use?

A: Methods include MasterCard, Maestro, Visa, Visa Electron, Skrill, Neteller, and fasapay. You can also use bank wire transfer. 

 Q: When will Americans/EU members get to join?

A: It depends on the governments of the individual countries. If permitted by the government, Finq will allow EU and American traders. Until then, there is no possible way for these countries’ citizens to join the brokerage. Q: How long do deposits and withdrawals take?

A: Deposit and withdrawal times vary, based on the method you use. Expect non-bank-wire transfers to take two to five business days, while bank wire transfers can take up to ten business days.

 

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