REVIEW - Finmarket Forex Broker

Photo: Finmarket

Overview

• Broker Name: FinMarket
• Broker Type: Forex Broker
• Country: Cyprus
• Operating Since (Year): 2015
• Regulation: CySec,
• Address: 56 Griva Digeni Avenue, AnnaTower, First Floor, 2063, Limassol, Cyprus
• Broker Status: Regulated

Customer Service

• Phone: +357-251-23329
• Email: support@finmarket.com
• Languages: ENG, FR, IT, DE
• Availability: 24/5

Trading

• Trading Platforms: MT4, WebTrader, MobileTrader
• Trading Platform(s) Timezone: GMT +0
• Demo Account: Yes
• Mobile Trading: Yes
• Web-based Trading: Yes
• Other trading instruments: Currency, CFDs, Stocks, Commodities, Cryptocurrency

Account

• Account Minimum Deposit ($): $250
• Maximum Leverage: 1:50
• Spread: Variable
• Scalping Allowed: No

Introduction: Very Rare Rewards System for Traders

The FINMARKET is a regulated and licensed broker by CySEC and has been around since 2015.

FINMARKET is a regulated and licensed broker headquartered in Cyprus. They are regulated by CySEC and their license number is 273/15. FINAMRKET has been around since 2015, and though they are not veterans in the industry they have sufficient experience to prove their worth.

FINMARKET offers a large range of trading instruments, educational content, daily analysis, and more. Not to mention, their rewards points system is rare to see amongst brokers, and we consider it to be one of their biggest assets. They offer up to triple points for each traded lot, where you get $5 for each point. Additionally, they have a great range of account types and highly dedicated customer service.

Moreover, the company has expert advisors and offers automation trading.

Account Types at FINMARKET

FINMARKET introduces five different account types, ranging from beginner to professional levels of trading. All of the account a system of rewards points which accrues over time. All accounts have a chance to participate in the professional development courses offered by FINMARKET, though the courses vary with the accounts.

Blue Member

This is the lowest trading account level. Most likely it is designated for beginners or traders who wish to test the platform FINMARKET offers before investing more or who are new to currency trading. The specs offered by the blue member account are:

Reward Points (FMP)

• FMP Points per lot:
• FMP Point value: $5
• Minimum deposit: $250
• Spread: Floating from 0.4
• Instruments: 50
• Professional development: VOD Library

This seems to be a comprehensive enough tool list for a beginner trader. The deposit is quite small, and you will receive $5 for each traded lot so there is a lot of potentials there.

Silver Member

The silver member is the second level in the trading account types in fact it is like a standard account with some other brokers. The stakes here a little higher and the tools offered are much bigger. See below:

Reward Points (FMP):

• FMP Points per lot: 1.5
• FMP Point value: $5
• Minimum deposit: $5,000
• Spread: Floating from 0.2
• Instruments: 70

The silver member has many more professional development options. They receive access to the daily markets FINMARKET reviews, on top of a personal account manager, trading tools, and a higher reward points system.

Gold Member

The third level of the account type gets a little bit more serious and thus offers a lot more to the traders.

Reward Points (FMP)

• FMP Points per lot: 2
• FMP Point value: $5
• Minimum deposit: $20,000
• Spread: Floating from 0.1
• Instruments: 100

Professional development:

• VOD Library
• Trading Tools
• Personal Account Manager
• Daily Markets Reviews
• London Stock Exchange Course

Gold members have access to 100 trading instruments, double the rewards points, access to the LSE course, and a very low spread. This should come in handy when working with such large numbers and a large trading volume. Though the rewards should be quite large, as you receive double the point for each traded lot.

Elite Member

Elite membership is the highest level of the account type, thus they have everything to offer. This is the go-to account for real professional traders, and they receive all the tools required for successful investments.

Reward Points (FMP):

• FMP Points per lot: 3
• FMP Point value: $5
• Minimum deposit: $50,000
• Spread: Floating from 0.1
• Instruments: 100

Professional development:

• VOD Library
• Trading Tools
• Personal Account Manager
• Daily Markets Reviews
• London Stock Exchange Course

The rewards system is good on this account type, tripling your points on reach traded lot. You will have access to 100 trading instruments, the London Stock Exchange course, Floating spread from 0.1, and a personal account manager, together with other specs as well.

Islamic Member

FINMARKET has a designated account type of Islamic members, making their platform more inclusive to all cultures.

Reward Points (FMP):

• FMP Points per lot: 1.00
• Minimum deposit: $500
• Spread: Floating from 0.65
• Instruments: 70

Professional development:

• VOD Library
• Trading Tools
• Personal Account Manager
• Daily Markets Reviews

Islamic members will also get access to a floating spread from 0.65, 1 point per traded lot, 70 instruments and more. The minimum deposit is also low, so you have a chance to make a profit without investing too much initially.

Conclusion

Overall, the account types at FINMARKET are satisfactory. The range is inclusive to many traders, beginner or experienced, and the reward points system is a rare sight to see. The higher the account level you invest in, the more points you will receive. So FINMARKET gives back whatever you invest, even tripling it.

Reprinted from financebrokerage, the copyright all reserved by the original author.