Finspreads Review – Is Finspreads Scam or a Proper Broker?

Finspreads Review

Finspreads is a broker that has its headquarters in UK and is regulated by FCA. In 2006, it was acquired by City Index. Customers from over 180 countries financially support this broker. It offers several features, tools and instruments.

Since it has been functioning for over 2 decades, it is recognized globally and has won several awards for its great service. It is a reliable broker trusted by traders around the world and its name has even been used by GAIN company Holdings.

Leverage

If used properly, leverage can magnify your profits. With Finspreads, clients can use a maximum leverage of 1:30. This is very suitable for beginner traders. These levels are also regulated very strictly by regulatory authorities. The broker also makes use of the ‘step margin feature’. Finspreads has generally low spreads which can get to 0.5 pips on a typical EUR/USD spread.

However, they are different for different currencies. They start from 0.4 pips for S&P 500, 4 pips for US crude oil, and 0.8 pips for GBP/USD duo. The base currencies at this broker are USD, EUR, and GBP.

Fees

GAIN capitals is very well known for its tight spreads and overall low costs. There is no deposit or withdrawal fee but, there is an inactivity fee of 25 pounds or 30 USD which is only charged if an account is inactive for over 12 months.

Deposits and withdrawals

At Finspreads, you can deposit funds using only common methods which are most trusted. These include Wire Bank Transfer, credit, and debit cards. The minimum deposit is $50 and an initial deposit of $100. However, these may vary depending on the account you create. You can withdraw cash using bank transfer and credit or debit cards. The minimum withdrawal amount is 50 pounds. If in any case, a credit card is not accepted, Finspreads will return the amount to your account.

Account types

Finspreads offers three account types with different features. These are Beginners account, Limited Risk account, and the Standard account. The beginners account, as per the name, is designed for beginners and offers indices, currencies, and commodities. The minimum deposit for this account is $50.

The limited risk account is for those looking for normal stake sizes and a variety of instruments. Finspreads offers 50p and all available instruments like shares and Day Trades. The initial deposit here is $100. The standard account is a basic account. It also offers a minimum stake size of 50p. Clients can use all instruments no matter what account they make. The minimum deposit on this account is also $100. A demo account is also available in case you need to practice trading free of risk.

Trading platform

This broker is constantly being developed to suit changing market trends. It has an advanced system and updated website which you can customize to your liking. It also has technical indicators and profiling to see the top gainers or equity. There is also a Finspreads mobile app which can be installed on Android and iPhone so you can trade wherever, whenever.

Customer support

To help clients out, Finspreads has a customer support team that is available all day, 5 days a week and can be reached through their postal address, phone, live chat, or even email. They will answer your queries with relevance. Proper and prompt customer service is available for users of any account.

Education

Clearly, Finspreads does its best to help out new traders. It is crucial for traders to have a strong grasp on the concepts and strategies for online trading and partner with a reliable broker. This brokerage offers a wide range of educational material on its website to provide appropriate knowledge to its clients.

Conclusion

Finspreads is a strictly regulated brokerage that offers a large variety of trading instruments, trading accounts, and several other features which make your trading experience better and worth it. The customization allows you to enjoy trading as you do it and create your account to your liking. The broker does its best to give its clients the best experience by meeting their demands.