Finotec Trading UK is a UK-based broker that claims to have been established in 1998. It is currently regulated by the UK Financial Conduct Authority (FCA) and holds a pass-through license authorized by it. Regulatory number: 470392. The actual office address of Finotec has been verified to be non-existent, and the broker has been frequently exposed to the scandal of black platform and inability to withdraw funds. Therefore, investors should pay careful attention to Finotec as a broker.
The financial assets that can be traded on the Finotec platform mainly include foreign exchange currency pairs, metals, CFDs and crude oil.
Finotec offers two types of accounts, mini accounts and standard accounts. The minimum deposit amount for a mini account is $200, and the minimum initial deposit for a standard account is $10,000. Objectively speaking, the minimum initial deposit amount of the account set by Finotec is too high. Most traders' mini account opening amount is 0-5 US dollars, and the standard account is 100-200 US dollars, so investors should pay attention to avoiding risks.
Spread & Commission
Finotec's official website does not provide information on the spread of specific foreign exchange or metal products, but only indicates that the spread is from 0.0 pips. However, since the platform cannot withdraw gold and there are many negative comments on the black platform, this is likely to attract investors to open accounts. a gimmick. In addition, Finotec charges traders a commission of $3 per lot.
Finotec claims to provide a variety of trading platform options, namely the current market-leading and acclaimed MT4 trading platform, Web XTrader trading platform, FIX API and Currenex.
Finotec supports traders to deposit and withdraw funds from their investment accounts through credit/debit cards and wire transfers.