Finq Forex Broker Broker Review

Justin Freeman

Broker Information

  • Company Name: Finq
  • Founded: 2017
  • Country: Seychelles

Platform Info

  • Platform: MetaTrader 4, WebTrader
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: FSA
  • Bonus: FTD Bonus up to $4,000
  • Minimum Deposit: $100
  • Leverage: 1:300
  • US Clients: No
Bonus offer for ForexFraud visitors
FTD Bonus up to $4,000

While at first glance, is a new brokerage launched in 2017, its roots reach back way further than that. It was apparently involved with as well as Safecap Investments Ltd and lead Capital Markets for a while. Its corporate background nowadays has nothing to do with any of those entities though.’s reputation among the FX-trading public is not particularly stellar right now – there is just no way around that fact. Some traders accuse the broker of being a market maker, while others decry the quality of the 24/5 support it offers and the conditions that tie its bonus.

Finq Website Screenshot

Still others believe the verification system used by the broker to validate withdrawals is way too lengthy and convoluted.

Roughly about half the users who have bothered posting reviews/feedback about the brokerage have had a positive opinion on its services.

When it comes to its corporate background, the operator is not particularly generous with information. We do learn though that the entity currently owning the brand is a certain Dilna Investments Ltd, which is a subsidiary of Leadcapital Corp. Ltd, and acts on its behalf at all times.

We mentioned in the title that is an Asia-focused operation. As such, it does not accept traders from the EU (or rather, the whole of the EEA), the US, Canada and Belgium. In fact – as its website states – it does not accept clients from any jurisdiction where its functioning is in any way, shape or form illegal.

All that said, why would you want to make your primary FX/CFD trading destination?

To begin with, the operation only requires a minimum deposit of $100. For beginners and recreational traders, accessibility is extremely important, and in this regard, does indeed deliver.

Unlike most  of its peers, the broker offers a bonus deal, which can be an important balance-booster for beginners. In regards to this bonus, it needs to be pointed out that it is tied by some pretty strict terms and conditions, so make sure you fully understand those, before you commit.

The broker gives its traders access to a host of useful trading tools as well as to more than 1,200 tradable assets.

No commissions are charged on any of the accounts supported by The broker uses the spread exclusively to generate revenues.

Besides the real money account options, a Demo account is also available to those who want to put the platform to the test, without risking any real money.

As far as the security of trader funds and regulation is concerned: according to its official site, is licensed and regulated by the FSA of the Seychelles. Its license number is SD007.

In compliance with the regulatory requirements, the funds deposited by traders are kept in segregated bank accounts, with prestigious financial institutions. Account Types

 A total of 4 account types are available at the brokerage, of which the Basic one is the most…basic.

Requiring a minimum deposit of only $100, the Basic account throws a Daily Analysis into the mix and that’s about it. Basic traders also have 24/5 support and access to desktop- as well as mobile trading, but that should go without saying for any proper, modern brokerage.

Those looking for a more complete service, can opt for the Classic Account. This one requires a minimum deposit of $1,000 in exchange for which, traders also gain access to webinars and a dedicated account manager. As always, we have to caution you in regards to this account manager setup though.

Next on the account-type ladder, we have the Gold Account, which requires a minimum deposit of $5,000. In addition to what the Classic Account has to offer, this one throws Premium Daily Analysis into the mix as well.

Last, but not least, we have the Platinum Account, which is obviously the “full extra” option of the broker. With a minimum deposit of $25,000, the Platinum Account features Premium Customer Support in addition to what the Gold account offers.

Interestingly, though it would make sense for there to be differences in regards to the trading conditions among these account types, the broker does not deliver any information in this regard. We do know however that the maximum available leverage at the broker is 1:300. The actual leverage depends on the traded asset.

While a Demo account is indeed available, there’s no word on Islamic account versions, which too would make sense, given the Asia-focused nature of the brokerage. Market Coverage

As already mentioned above,’s market coverage is outstanding, with more than 1,200 tradable assets on offer.

This market coverage extends to stocks, commodities, FX pairs, ETFs, Bonds, as well as cryptocurrency-based CFDs.

As far as stocks are concerned, scores of them are available, categorized by country.

In regards to FX pairs, more than 100 are available, from majors to minors and exotics, all the way to cryptos. The spreads start from 1.90 pips on the EUR/USD pair, which we can assume are the lowest the broker can offer.

On exotics, the spreads can be as high as 72-300 pips.

The commodities section of the broker is surprisingly generous as well. From Brent Oil to Cocoa and from Natural gas to Platinum, scores of different assets can be traded. The spread on Brent Oil for instance starts from 0.04 pips, and the maximum leverage on this same asset is 1:152.

The cryptocurrencies section features Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic and Dash. The maximum leverage on these crypto assets is 1:2. The spreads are rather steep – as expected, given the volatility associated with this asset-class. Trading Platforms

The trading platform selection of the broker is simple and straightforward. it is comprised of a Web Trader, mobile apps for Android- and iOS devices and MT4.

The Web Trader is a download-free solution, which offers surprisingly potent analysis tools and execution speeds. Limit and stop orders can be used through the web trader, and traders have access to the full range of tradable assets offered by the broker.

MT4 is obviously the centerpiece of the platform offer. It can be downloaded for free off the site, and it comes with an impressive number of preinstalled technical indicators.

MT4 provides a fully customizable trading environment, allowing users to add indicators at will and to create/code their own ones.

Custom scripts can be used in combination with EAs, to put marginally profitable strategies to work and to “milk” those small edges through trading volume.

MT4 supports trading off the charts, and it comes with scores of chart types and drawing tools.

The mobile apps featured by the broker are capable as well as surprisingly popular. According to the broker, some 70% of its traders use the mobile apps to monitor their accounts and to execute trades.

Finq Conclusion looks like a serious trading destination. Its MT4 support is instrumental in eliciting this impression, though its market coverage pitches in as well in this regard.

The downside is that the broker cannot really be called a reputable one, and the jurisdictions from which it accepts traders are rather limited. The trading conditions could be better as well, especially in regards to the spreads featured on popular tradable asset categories.

See more forex broker reviews

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Justin Freeman

Latest news

State of the Nation – Up to Date Reports on Which of the Brokers Can be Trusted – Tickmill
Given the amount of technical and fundamental analysis that goes into running a successful investment strategy, it’s often surprising how many traders skip analysing the health of their broker. Read more
Patience is Rewarded – Is Now the Time to Buy The Dips?
Global US stock indices have started the week holding ground after several days of negative returns. Read more

Safest Forest Brokers 2020

Broker Info Best In Customer Satisfaction Score
#1 ForexTime LogoYour capital is at risk Founded: 2011 Global CFD & FX Broker
Number One Broker
#2 ForexTB logoYour capital is at risk Founded: 2015 Global Forex & CFD Broker
Number One Broker
LOWEST FEES Visit broker
#3 Tickmill forex broker logoYour capital is at risk Founded: 2014 Global Forex & CFD Broker
Number One Broker
Best Trading Conditions Visit broker
#4 BlackBull MarketsYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker
#5 Forex Broker Pepperstone LogoCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Founded: 2010 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker

    Forex Fraud Certified Brokers

    LegacyFX Small Logo
    BlackBull Markets Logo
    AvaTrade logo
    City Index Logo
    Vantage FX logo
    Exness Small Logo
    ATFX Logo
    skilling logo
    HYCM Logo
    OctaFX Logo
    XM Logo
    IC Markets Logo
    FXTM Logo Logo
    IQ Option Logo
    Plus500 Small Logo