Finotrade Review – Is Finotrade Scam or a Proper Broker?

Finotrade Review

Finotrade is a well-known broker that is operating globally. The broker is providing efficient brokerage services since its inception. The broker provides a user-friendly and convenient platform to its customers that helps them to get the access to financial markets all around the world. The headquarters of the broker are located in London.

Here is an elaborate Finotrade review that will explain the pros and cons of the broker to the readers and the reasons that make it trustworthy among the traders.

Is Finotrade a Scam?

No, Finotrade is not a scam. The broker is regulated by reputable higher authorities that ensure that the funds and assets of their customers remain safe. The company Finotech trading UK uses the name Finotrade to help the traders carry out trade activities.

The broker is regulated by the Financial Conduct Authority (FCA) that ensures that the firm follows all the regulations and rules. The broker takes immediate action in case any illicit activity is observed by the authorities.

Trading Platforms

Using their electronic devices, the traders can carry out their trade procedures easily anywhere and anytime in the world. Finotrade is also integrated with the popular trading platform known as MetaTrader4 (MT4). This provides the traders the access to a number of advanced tools and techniques that could help them analyze the market conditions in a better way. The trading platform can be conveniently used by beginners and professional traders.

Charges

Finotrade does not charge any deposit fee or any withdrawal fee whenever any transaction is carried out by their customers. however, in case of being inactive for a certain period of time, the broker may charge an inactivity fees.

Leverage

As Finotrade is a British broker, it provides does not provide high leveraged assets to its customers. The higher authorities usually advise the customers to avoid leverage products as they may lead to loss in addition to increasing their exposure in the market. The maximum leverage provided by the broker is 1:30.

Trading Instruments and Markets

Most of the brokers provide the opportunities to trade energy, indices, commodities, forex, etc. Finotrade offers trading opportunities for its clients in forex, commodities and CFDs. The customers can have the information about the trading hours and the days of trading of all the products through the official website of the broker.

It provides the traders an easy access to the international  markets and keep them updated about the market prices of different assets.

Bonuses

Bonuses help the companies to attract a greater number of customers. Mostly firms offer different types of bonuses such as deposit bonus, welcome bonus etc. to lure the customers. The bonus offered also helps in building confidence among the customers that their funds and assets are in safer hands.

However, Finotrade is not offering any type of bonus to its clients at present.

Awards and Recognition

Winning an award or being recognized by the reputable authorities adds to the portfolio of any firm. However, Finotrade has not won any award yet as it is still considered as a new firm in the financial market.

Education and Training

The traders should try their best to train themselves accordingly so that they can make smart and logical decisions while dealing with the market situations. It is considered very important to have the knowledge and learning about the trading techniques and strategies involves in the trade processes.

The official website of Finotrade does not provide any educational material or stuff for its customers so that they can train themselves. However, one can see the Academy link on the website of the broker that may guide the traders especially the beginners about trading forex and commodities.

Conclusion

Finotrade is a trustworthy broker that is constantly striving to make its place in the financial market and to gain the confidence of the traders all around the world. The broker lacks some of the basic facilities for which it is trying its best.