Finexo only accepts non-U.S. customers.
Finexo was founded in 2003 by a group of forex industry pros consisting of bankers, fund managers and software experts with the shared the intention of providing access to the foreign exchange market to retail via an online interface.
In early 2010, Finexo was purchased by SafeCap Investments - an EU regulated broker based in Cyprus that has a good financial background and also owns GFC markets. As a result of the merger, Finexo no longer accepts U.S. based clients.
Although still a younger member of the forex broker community, Finexo already ranks high with its customers based on its commitment to efficiency and customer satisfaction.
- Competitive spreads that depend on trading volume and your overall account balance.
- Trade all popular currency pairs, plus some interesting minor currencies and other instruments like commodities and stocks.
- Start trading online quickly.
- Support for trailing stops.
- Mobile trading and order entry.
- Automatic close-out of positions with insufficient margin.
- Multilingual website translated into eight languages.
- Minimum deposit requirement is $100.
- Standardized trading sizes.
- No maximum trading volume.
- No U.S. based clients currently accepted.
Other Account Information
- Free demo account for practice trading.
- Trading leverage of up to 200:1 is for experienced traders as increasing leverage increases risk.
Dealing and Spreads:
- Trade all major currency pairs, some interesting minor currency pairs, commodities and stocks.
- Especially competitive spreads, with a three pip spread in the EUR/USD and USD/JPY currency pairs.
- Flexible account funding options.
- No charges for deposits.
- Funds applied to account in 24-48 hours, depending on method used.
- Fund with credit or debit card transfers via Visa, MasterCard or Diners' Club.
- Fund accounts quickly online financial intermediaries like WebMoney and FastBankTransfer.
- Add funds using wire transfers from banks (incurs bank fees).
- Usually completed within three days after receipt of necessary documentation.
- Withdrawals only to account deposits came from.
- Require filling out and sending a form.
All traders at Finexo can access its online and mobile in-house trading platforms, and the broker also supports MetaTrader 4. Access to such advanced and well-rated trading software is provided by Finexo without cost to its forex brokerage clients.
Furthermore, online video tutorials and friendly customer service attendants are available to assist clients in getting started with using the trading platform software.
The available trading platform options at Finexo include:
- Popular forex trading platform
- Supports automated trading
- Sophisticated charting and analysis trading software
- Trade directly from charts
- Performs account management
- News feed
- Online interface
- Supports all browsers
- Syncs up with MetaTrader4
- Java-based platform
- Tight security
- Practice trading available
- No download or installation necessary
- Supports single-click trading
- User-friendly interface
- Can personalize workspace
- Somewhat limited real-time charting service
- Offers trailing stop capabilities
- Extensive limit and stop order choices
- Suitable for both trading novices and pros
- Trade over 155 currency pairs
- Free of charge to account holders
- Requires G3 cell phone or Windows PDA with Internet access via mobile browser
- Provides instant financial market access
- Get news, charts and market updates
- Review positions, enter trades, set or change orders
- Easy to use
Finexo caters primarily to the retail online forex market, and as a result, it offers good quality and friendly 24-hour customer service that aims to treat each trader with trust and respect as they facilitate the trader's use of the provided trading software.
Customer service numbers include an international phone and fax number, in addition to local numbers in the Germany, Great Britain, Spain and France. Furthermore, you can contact a representative online via a live chat option available at the broker's website, as well as via e-mail.
Clients also have access to Finexo 24 hour dealing desk from Monday to Friday that quotes two way prices, accepts orders and confirms trades.
Finexo offers a nice selection of essential, but brief, educational material on their site for new traders. Available educational topics currently include:
- Forex education
- Order types
- Forex history
- Economic information
- Market reviews
- Trading tools (including a pivot calculator and rather rudimentary Java-based forex charts),
- A forex trading video tour and
- A forex glossary.
Market News and Data
Finexo provides a rather slim offering of timely market-related information, including:
- Audio market briefings
- Daily reports
- Economic calendar
Finexo is owned and operated by SafeCap Investments Limited - a company that is licensed and regulated by the Cyprus Securities and Exchange Commission or CySEC that enforces the MiFID EU compliance standards and ensures that the broker adheres to strict financial guidelines.
Furthermore, due to SafeCap's membership in the Investor Compensation Fund for covered customers of Cypriot Investment Firms (CIF's), all client deposits are guaranteed up to EUR 20,000 per customer against the company's insolvency.
Finexo makes sure that it uses the most modern internet security methods to protect its customers' personal data and funds.
Finexo offers a number of distinctive services that have given it a respectable position in the online forex broking industry, despite only being in business for just six years. The company generally works toward providing the latest technology to its clients, and it supports both automated and mobile trading via MetaTrader 4, aka MT4.
Finexo offers the excellent charting capabilities provided by MT4, and while its news services are not the strongest in the industry, the broker's support for trailing stops and friendly customer service also distinguishes it from the competition.
Overall, Finexo is a well-regulated and professional forex broker with good customer service that offers tight spreads, along with support for MetaTrader 4, as well as good web-based and mobile trading technology.