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Do you want to know which is the better broker between Grand Capital and FinMarket ?
In the table below, you can compare the features of Grand Capital , FinMarket side by side to determine the best fit for your needs.
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XAUUSD:25.78
EURUSD: -10.14 ~ 0.13
XAUUSD: -52.23 ~ 2.5
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of grand-capital, finmarket lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Company Name | Grand Capital |
Headquarters | Hong Kong |
Regulations | Regulated by the Securities and Futures Commission (SFC) of Hong Kong |
Market Instruments | Securities, Futures, Stock Options, Fixed Income |
Account Types | Individual, Joint, Corporate, Asset Management, Private Banking |
Spread | N/A |
Deposit/Withdraw Methods | Bank Transfer, Cheques, Overseas Remittance |
Trading Platforms | Desktop, Web, Mobile |
Customer Support | Phone: +852 3891 9888, Email: cs@grandch.com |
Educational Resources | N/A |
Grand Capital Holdings Limited, headquartered in Hong Kong, operates as a financial services provider encompassing two wholly-owned subsidiaries: Grand Capital Securities Limited and Grand Capital Futures Limited. These entities offer a broad spectrum of financial services to a diverse clientele, including individuals, corporations, and institutions. Services provided by Grand Capital encompass brokerage services, wealth management, asset management, and institutional services. These services facilitate access to a variety of financial markets and instruments, allowing clients to engage in trading activities across a range of asset classes. Additionally, the company provides a selection of trading platforms to cater to different trading preferences, ensuring accessibility and convenience for its clientele.
Grand Capital, operating under the entity Grand Capital Futures Limited in Hong Kong, is a legitimate broker in the context of its regulatory status. It is regulated by the Securities and Futures Commission (SFC) of Hong Kong, a reputable regulatory authority known for its stringent oversight of financial institutions. Grand Capital holds a valid license for “Dealing in futures contracts” with License No. BOM175, issued by the SFC, and this license was effective from October 10, 2019.
The fact that Grand Capital is regulated by the SFC and holds a valid license indicates that it has met the regulatory requirements and standards set by the regulatory authority. This regulatory oversight provides a level of assurance to clients that the broker operates within the legal framework and adheres to industry regulations and standards.
Grand Capital presents a range of advantages for traders seeking financial services. Firstly, it boasts regulatory oversight by the Securities and Futures Commission (SFC) of Hong Kong, instilling confidence in clients regarding the broker's commitment to industry standards. The broker offers a diverse selection of financial products, including securities, futures, stock options, and fixed income, allowing clients to diversify their portfolios. Grand Capital prioritizes accessibility by providing trading platforms for desktop, web, and mobile devices, accommodating traders with varying preferences. Additionally, the inclusion of wealth management services and a physical office presence in Hong Kong enhances the overall client experience.
However, several considerations must be kept in mind. The lack of fee transparency could result in unexpected costs for traders, impacting their overall trading experience. Grand Capital's limited educational resources might hinder traders from developing essential skills and knowledge. Furthermore, unclear deposit and withdrawal information may create inconvenience and uncertainty, and the absence of disclosed spread details leaves traders unaware of potential trading costs. Lastly, the dependency on the Grand Authenticator app for Two-Factor Authentication may not align with all clients' preferences or accessibility needs.
Pros | Cons |
1. Regulatory Oversight | 1. Lack of Fee Transparency |
2. Diverse Product Range | 2. Limited Educational Resources |
3. Multi-Platform Accessibility | 3. Unclear Deposit and Withdrawal Information |
4. Wealth Management Services | 4. No Spread Information |
5. Physical Office Presence | 5. 2FA App Dependency |
Grand Capital offers a diverse array of financial products, catering to a wide spectrum of investment strategies and preferences. One of its core offerings is securities trading, providing clients with access to global stock markets in over 20 countries, including major exchanges like NYSE, NASDAQ, and more. Investors can engage in the trading of listed stocks, equities, ETFs, REITs, derivative warrants, inline warrants, CBBCs, and fixed-income products. This expansive range allows clients to diversify their portfolios across international markets and asset classes, aligning with their investment goals and risk tolerance.
Furthermore, Grand Capital provides futures trading opportunities, empowering self-directed investors to participate in futures and options on futures contracts. These include equity, foreign exchange, commodities, interest rates, and single stock futures products. The inclusion of stock options and fixed-income products further enhances the depth of Grand Capital's product offerings, giving clients the tools and opportunities to explore various trading strategies and achieve their financial objectives.
Grand Capital offers a wide range of financial services to meet the diverse needs of its clients, making it a versatile player in the financial industry. The company provides brokerage services, enabling clients to access global markets and trade a variety of financial instruments. Whether for individual or institutional investors, Grand Capital's brokerage services offer a gateway to international markets, facilitating portfolio diversification and investment opportunities.
In addition to traditional brokerage, Grand Capital offers comprehensive wealth management and asset management services. Clients can leverage the expertise of the firm's professionals to create tailored investment strategies that align with their financial goals. The inclusion of institutional services and fund set-up services further underscores Grand Capital's commitment to serving a wide range of clients, including institutional investors and fund managers. The firm's global markets multi-asset approach allows clients to explore opportunities across various asset classes and regions, providing a holistic and diversified approach to investment and wealth management.
Grand Capital offers a versatile range of account types to accommodate the diverse needs of its clients. For individual investors, the firm provides both securities accounts, which can be further categorized into cash or margin accounts, and futures and options accounts. These options empower investors to choose the account type that aligns with their risk tolerance and trading preferences. Additionally, Grand Capital caters to clients interested in stock options trading, providing a dedicated account type for this purpose.
For more sophisticated investors seeking professional portfolio management, Grand Capital offers asset management accounts. These accounts allow clients to leverage the expertise of professional fund managers to achieve their investment goals. Furthermore, the firm extends its services to high-net-worth individuals through private banking accounts, ensuring personalized financial solutions and a tailored approach to wealth management. Grand Capital's diverse account offerings reflect its commitment to providing a comprehensive suite of options to cater to the unique financial objectives and preferences of its clientele.
To open an account with Grand Capital online, the process is straightforward and can be completed in a few simple steps:
Go to www.grandch.com and navigate to the account opening section.
Select the type of account you wish to open, such as an individual or corporate account.
Fill out the online application form with your personal information, financial details, and other required information.
Upload the necessary identification and verification documents as specified by Grand Capital.
Double-check the provided information, agree to the terms and conditions, and submit your application.
Grand Capital's team will review your application and notify you once your account is approved and ready for trading.
Alternatively, clients can opt for an in-person account opening by scheduling a visit to Grand Capital's offices, where experienced staff will assist with the process. Additionally, for those who prefer to open an account by mail, Grand Capital can send the relevant account opening documents upon request, which can then be completed and sent back to the office for processing. These alternative methods provide flexibility to clients in choosing the most convenient way to open their accounts with Grand Capital.
Grand Capital's lack of disclosure regarding fees or spreads associated with trading activities may present challenges for traders in assessing the true cost of their trades. Without clear information on fees, commissions, or spreads, clients may find it difficult to accurately calculate their trading expenses, potentially leading to unexpected costs that can impact overall profitability. Transparency in fee structures is crucial for traders to make informed decisions and manage their trading costs effectively. Therefore, prospective clients should exercise caution and seek clarity on fee-related information before engaging in trading activities with Grand Capital.
Grand Capital offers a robust and versatile trading platform that caters to the needs of both securities and futures traders. Clients can access a range of platforms, including iTrade and WebTrade for online trading, as well as desktop applications for a more comprehensive trading experience. Notably, Grand Capital provides mobile trading options through the Play Store and App Store, offering basic and advanced versions of their trading platform, ensuring accessibility for traders on the go. This multiplatform availability allows traders to conveniently access their account balances, positions, market data, and other essential information from various devices, enhancing flexibility and convenience in their trading activities.
In addition to its trading platforms, Grand Capital offers the Grand Authenticator app, which serves as a Two-Factor Authentication (2FA) solution. This app adds an extra layer of security to clients' accounts, helping protect against unauthorized access. Users can easily download the app for both iOS and Android devices, ensuring their account security while trading. By implementing 2FA through the Grand Authenticator app, clients can benefit from enhanced peace of mind and safeguard their trading accounts from potential security breaches.
Grand Capital offers several methods for deposits and withdrawals, including bank transfers, cheques, and overseas remittances. Clients can choose the option that aligns with their preferences and location. Bank transfers provide a secure and direct way to move funds to and from their trading accounts. However, it's important to note that fees may apply for these transactions, and the exact charges may vary depending on the bank and location. Additionally, the processing time for bank transfers can vary, ranging from a few business days to potentially longer for international transfers.
Clients opting for cheque deposits or overseas remittances should also be aware of potential fees and processing times associated with these methods. It's essential for traders to review the broker's fee schedule and terms for each transaction method to make informed decisions regarding their deposits and withdrawals, as fees and processing times can impact the overall cost and speed of accessing their funds.
Grand Capital's commitment to customer support is evident through its accessible contact information and dedicated service channels. Clients can reach out to the company through various means, including telephone support via the provided contact number, ensuring direct and immediate assistance. Additionally, clients can utilize the provided email address to contact the customer support team, offering a convenient way to seek assistance, address inquiries, or resolve any issues.
The company's physical presence at its Hong Kong office further underscores its dedication to customer service. Grand Capital's central office location in Hong Kong enhances accessibility for clients who prefer in-person consultations or support. Overall, Grand Capital's multi-channel customer support approach demonstrates its commitment to providing responsive and accessible assistance to its clientele, contributing to a positive trading experience.
The absence of educational resources in Grand Capital could hinder traders, especially newcomers, from acquiring the knowledge and skills necessary for effective trading. Without access to tutorials, webinars, and trading guides, they may face increased risks, potential losses, and limited opportunities for skill development, making it less attractive for those seeking comprehensive support and guidance in trading.
In summary, Grand Capital is a Hong Kong-based financial services firm with a diverse range of offerings for traders and investors. It provides access to global financial markets, including securities, futures, stock options, and fixed-income products, catering to a wide range of investment preferences. The broker offers multi-platform accessibility, regulatory oversight by the SFC, wealth management services, and a physical office presence in Hong Kong for client convenience.
However, concerns arise due to the lack of fee transparency, limited educational resources, and unclear information regarding deposit and withdrawal methods. Traders should exercise caution and seek comprehensive information before engaging with this broker to ensure they align with their specific trading needs and preferences.
Q: Is Grand Capital regulated?
A: Yes, Grand Capital is regulated by the Securities and Futures Commission (SFC) of Hong Kong, providing regulatory oversight.
Q: What financial products does Grand Capital offer?
A: Grand Capital offers a diverse range of products, including securities, futures, stock options, and fixed-income instruments.
Q: How can I contact Grand Capital's customer support?
A: You can reach Grand Capital's customer support through phone at +852 3891 9888 or via email at cs@grandch.com.
Q: What trading platforms are available at Grand Capital?
A: Grand Capital offers multiple trading platforms, including desktop, web, and mobile options to suit different preferences.
Q: What payment methods are accepted for deposits and withdrawals?
A: Grand Capital facilitates deposits and withdrawals through bank transfers, cheques, and overseas remittances, although specific fees and processing times may apply.
Aspect | Information |
Registered Country/Area | Cyprus |
Founded Year | 2015 |
Company Name | FinMarket |
Regulation | Unregulated (Suspicious Clone) |
Minimum Deposit | $250 (Mini Account) |
Maximum Leverage | Up to 1:500 |
Spreads | High spreads on Mini accounts |
Trading Platforms | MetaTrader 4 (MT4), WebTrader, In-House Mobile Platform |
Tradable Assets | Forex currency pairs, major indices, commodities, individual stocks, cryptocurrencies |
Account Types | Mini Account, Standard Account, VIP Account, Premium Account |
Demo Account | Available |
Islamic Account | Available |
Customer Support | Limited availability and slow response times |
Payment Methods | Credit transfer, wire transfer, Ecommpay |
Educational Tools | Information not provided |
FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. Despite claiming to be regulated by CySEC, the lack of proper regulation raises concerns about the safety of traders' funds and the transparency of their operations. Unfortunately, the website is currently down, which adds further doubts about the broker's legitimacy. The high spreads and commissions, along with the relatively high minimum initial deposit of $1000, make it an unattractive option for traders, especially beginners. Moreover, the limited account manager availability and the absence of an FAQ section demonstrate a lack of commitment to customer support. Overall, due to the unregulated status and the website's unavailability, FinMarket should be approached with extreme caution.
Suspicious Clone.
A “Suspicious Clone” in the context of financial services refers to an entity that mimics or imitates the appearance and branding of a legitimate and regulated company, often with the intent to deceive and defraud unsuspecting individuals. These clones use similar names, websites, and other identifying features to create the illusion of being a reputable and regulated entity, while in reality, they are operating without proper authorization and oversight.
In the case of FinMarket being labeled as a “Suspicious Clone,” it suggests that the broker claims to be regulated by CySEC but lacks the necessary authorization and compliance. Such suspicious clones can pose significant risks to investors and traders, as they may engage in fraudulent activities, mismanage funds, and potentially disappear without a trace. Traders should exercise extreme caution when dealing with suspicious clones and always conduct thorough research and due diligence before entrusting their funds to any financial service provider.
FinMarket offers a diverse array of market instruments, catering to traders' interests and allowing them to diversify their portfolios across different asset classes. The following table summarizes the market instruments along with some examples:
Market Instrument | Number of Assets | Examples |
Forex Currency Pairs | 30+ | EUR/USD, EUR/GBP, AUD/JPY, etc. |
Major Indices | Various | FTSE, S&P 500, NASDAQ, etc. |
Commodities | Various | Silver, Crude Oil, Gold, Coffee, etc. |
Individual Stocks | 160+ | Amazon, Netflix, Apple, etc. |
Cryptocurrencies | Various | Bitcoin, Ethereum, etc. |
Forex Currency Pairs:
FinMarket provides access to more than 30 forex currency pairs, including major pairs like EUR/USD, EUR/GBP, and AUD/JPY. These major pairs offer high liquidity and are widely traded in the global forex market.
Major Indices:
Traders can participate in the performance of major stock market indices, such as FTSE, S&P 500, and NASDAQ. These indices represent the overall performance of specific stock markets and sectors.
Commodities:
FinMarket offers various commodities for trading, including precious metals like Silver and Gold, energy resources like Crude Oil, and agricultural products like Coffee. Commodity trading allows traders to diversify their investment strategies.
Individual Stocks:
With over 160 individual stocks available as CFDs, traders can speculate on the price movements of well-known market holders like Amazon, Netflix, and Apple. This allows investors to gain exposure to individual companies without owning the underlying shares.
Cryptocurrencies:
For those interested in the cryptocurrency market, FinMarket offers access to various digital assets like Bitcoin, Ethereum, and more. Cryptocurrency trading allows traders to capitalize on the price movements of these digital currencies.
Despite offering a diverse array of market instruments, FinMarket's lack of proper regulation raises concerns about the safety and legitimacy of its offerings. Traders should exercise extreme caution when considering this broker due to the absence of regulatory oversight, which may expose investors to potential risks and fraudulent activities. Additionally, the website being down further adds to the suspicion surrounding the broker. While the range of assets offered, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, might seem attractive, the overall lack of regulation casts doubt on the broker's credibility and reliability. It is essential for traders to conduct thorough research and choose regulated brokers to safeguard their investments and trading experience.
FinMarket offers a range of trading accounts, but be warned, their account types may not be as attractive as they seem. Let's take a closer look at each account with a critical eye:
Mini Account:
Minimum Deposit: $250
Features: This account type may seem affordable, but don't be fooled. The demo account for practicing strategies is nothing special, and the 40% margin is quite restrictive. With only 24 Forex currency pairs and 10 commodities and indices for trading, you won't have a wide range of options. The leverage up to 1:500 might sound impressive, but it could lead to significant losses for inexperienced traders.
Standard Account:
Minimum Deposit: $1,000
Features: The demo account is available, but the 26 Forex currency pairs and 10 commodities and indices offered for trading are nothing extraordinary. The daily market news and SMS alerts may sound appealing, but they hardly compensate for the lack of variety in trading options. The dedicated account manager might not be as dedicated as you expect, and the Islamic account option is just a small gesture to attract a specific group of traders.
VIP Account:
Minimum Deposit: $10,000
Features: The high minimum deposit might make you think you're getting premium treatment, but don't be fooled. The additional features offered, such as 28 Forex currency pairs and a full range of commodities and indices, may not justify the steep price. Direct access to a trading manager might not be as beneficial as they claim, and the 30% margin is quite restrictive for experienced traders.
Premium Account:
Minimum Deposit: $100,000
Features: The hefty minimum deposit requirement might make you believe you're entering an exclusive club, but the reality might disappoint you. The in-depth analyst tips they promise are just a way to add some fluff to the account. The 25% margin is not as competitive as you'd expect, and the so-called deep liquidity might not be as deep as you hope.
Account Type | Minimum Deposit | Features |
Mini Account | $250 | - Demo account for practicing strategies<br> - 40% margin<br> - Trading options include 24 Forex currency pairs and 10 commodities and indices<br> - Leverage up to 1:500 |
Standard Account | $1,000 | - Demo account available<br> - Trading options include 26 Forex currency pairs and 10 commodities and indices<br> - Daily market news and SMS alerts<br> - Dedicated account manager<br> - Islamic account option |
VIP Account | $10,000 | - 28 Forex currency pairs and a full range of commodities and indices for trading<br> - Direct access to a trading manager<br> - 30% margin |
Premium Account | $100,000 | - In-depth analyst tips<br> - 25% margin<br> - Claims of deep liquidity |
In summary, FinMarket's account types might appear enticing at first glance, but upon closer inspection, they fail to deliver on their promises. The high minimum deposits, limited trading options, and questionable additional features make these accounts less appealing than they initially seem.
FinMarket boasts about offering “up to 1:500” leverage on their trading accounts. However, before you get too excited, let's take a closer look at the reality behind this high leverage claim.
While a leverage of 1:500 might seem like an attractive prospect, it comes with significant risks and drawbacks. High leverage can amplify both your potential profits and your potential losses. This means that even a small adverse price movement could wipe out a significant portion of your trading capital.
Inexperienced traders often get lured in by the promise of high leverage, thinking they can make huge profits with a small initial deposit. However, they fail to realize that it also exposes them to substantial risks.
Moreover, it's worth noting that regulatory authorities, like CySEC, which oversees FinMarket, have been tightening their rules regarding leverage. High leverage has been associated with increased client losses and is considered risky for retail traders. Many regulatory bodies now impose leverage caps to protect traders from excessive risk-taking.
So, while FinMarket might advertise high leverage as a way to attract traders, it's crucial to approach it with caution. Trading with such high leverage can be a recipe for disaster, especially for inexperienced traders who might not fully comprehend the risks involved.
In conclusion, the maximum trading leverage offered by FinMarket might sound appealing, but it's essential to remember that high leverage comes with substantial risks. It's crucial for traders to exercise caution and employ proper risk management strategies to protect their capital when trading with such high leverage.
Spreads and commissions at FinMarket vary depending on the type of trading account. However, upon closer examination, it becomes evident that the broker's offerings are less competitive than they claim to be.
Spreads:
FinMarket advertises “tight spreads” on their website, but in reality, the spreads they offer are quite high, especially on their Mini accounts. For the benchmark EUR/USD currency pair, the average spread exceeds 3.7 pips on Mini accounts. Such high spreads can significantly impact a trader's potential profits, making it challenging to trade cost-effectively.
Commissions:
In addition to spreads, FinMarket charges commissions on trades, further increasing the overall cost of trading. The commission rates vary depending on the type of account. For Mini accounts, the commission fee is $15.00 per trade.
Comparison to Competitors:
Compared to other reputable brokers in the market, FinMarket's trading costs are less favorable. Many competitors offer much lower spreads, often within the range of 1.0 to 1.5 pips for the EUR/USD pair, without charging additional commission fees.
Impact on Traders:
The high spreads and commission fees at FinMarket can hinder a trader's ability to profit consistently, particularly for those with smaller trading accounts. These unfavorable trading conditions may lead to significant losses and can discourage traders from achieving their financial goals.
In conclusion, despite claiming to provide tight spreads and varying commissions, FinMarket's trading conditions fall short compared to many other brokers in the industry. Traders seeking cost-effective and competitive trading experiences may find better options with brokers offering lower spreads and commission fees.
Deposit and withdrawal processes at FinMarket seem to be relatively straightforward, offering various methods for funding accounts and accessing funds. However, there are some considerations to keep in mind.
Deposit Options:
FinMarket provides several options for depositing funds into trading accounts. Traders can choose to deposit through credit transfer, wire transfer, or the electronic payment method Ecommpay. These options offer flexibility, allowing clients to select the most suitable method based on their preferences and location.
Minimum Deposit Requirements:
The broker does not impose any specific minimum deposit requirements. However, it's important to note that individual payment channels may have their own minimum deposit limits. Traders should verify the minimum deposit amount with their chosen payment method before initiating the transaction.
Withdrawal Process:
FinMarket generally processes withdrawals through the same method used for depositing funds. This is a standard practice among many brokers and helps ensure the security of transactions. Traders should be aware that withdrawal requests may take some time to process, depending on the payment method and the broker's internal procedures.
Fund Security:
FinMarket emphasizes the security of customer funds. The broker operates under the regulation of the Cyprus Securities Exchange Commission (CySEC), which requires adherence to strict guidelines for the protection of client funds. Furthermore, the use of SSL encryption ensures the safe transmission of personal and financial information during transactions.
Additional Considerations:
While the deposit and withdrawal processes themselves appear to be straightforward, traders should also consider the overall cost associated with funding their accounts and accessing their funds. This includes any fees charged by payment providers and potential currency conversion charges, especially for international clients.
In conclusion, FinMarket offers various deposit options and follows standard practices for processing withdrawals. However, traders should be aware of any minimum deposit requirements imposed by payment channels and carefully consider any associated costs to make informed decisions about funding their trading accounts and accessing their funds.
FinMarket provides its clients with multiple trading platforms, ensuring a diverse range of options to suit individual preferences and trading styles. The broker offers the following trading platforms:
MetaTrader 4 (MT4) Platform:
MetaTrader 4 is one of the most popular and widely used trading platforms in the industry. It offers a user-friendly interface and a comprehensive set of tools and features, making it suitable for both beginner and experienced traders. Traders can access advanced charting capabilities, a wide array of technical indicators, and various timeframes for market analysis. MT4 also supports automated trading through Expert Advisors (EAs), allowing traders to execute trades automatically based on predefined strategies. The platform is available for desktop (Windows, Linux, and MacOS), as well as mobile devices (iOS and Android), providing convenience and flexibility for traders who prefer to trade on the go.
In-House Web Trading Platform (WebTrader):
FinMarket has developed its own web-based trading platform known as WebTrader. This platform is accessible through any web browser without the need for downloading or installing additional software. WebTrader offers a user-friendly interface with one-click trading functionality, real-time market charts to monitor market trends, and social trading features. The platform caters to traders who prefer a hassle-free trading experience and wish to access their accounts from any internet-connected device.
In-House Mobile Trading Platform:
For traders who are constantly on the move, FinMarket offers a mobile trading platform compatible with both Android and iOS devices. This mobile app provides full access to trading accounts, enabling traders to execute trades, monitor positions, and access real-time market data from the palm of their hands. The mobile trading platform ensures that traders can stay updated and respond to market movements promptly, regardless of their location.
In summary, FinMarket provides a diverse selection of trading platforms to cater to the needs of different traders. The MetaTrader 4 platform offers advanced tools and analysis for experienced traders, while the in-house WebTrader platform appeals to those seeking simplicity and convenience. Additionally, the mobile trading platform ensures traders can stay connected to the markets at all times, making it a comprehensive offering for a range of trading preferences.
FinMarket's customer support has been a source of frustration for many traders, as it often fails to meet their expectations. The broker claims to provide reliable assistance, but in reality, reaching their customer support team can be a tedious and time-consuming process.
Phone Support: While FinMarket offers a phone support option, getting through to a support representative can be a daunting task. Traders often find themselves waiting on hold for extended periods, only to be met with unhelpful responses or transferred to different departments without any resolution.
Email Support: Traders who opt for email support are often left disappointed with the slow response times. It can take several days to receive a reply, and even then, the answers provided are often generic and fail to address the specific concerns raised by traders.
Live Chat: The live chat feature on FinMarket's website is advertised as a quick way to get assistance, but in reality, it is far from efficient. Traders report experiencing long wait times before connecting with a support agent, and when they do, the responses are often vague and unhelpful.
Web Contact Form: Submitting inquiries through the web contact form is no better, as traders rarely receive timely or satisfactory responses. It seems like the broker pays little attention to these contact forms, leaving traders feeling ignored and frustrated.
Overall, FinMarket's customer support is lackluster and inadequate. Traders have expressed their dissatisfaction with the slow response times, unhelpful answers, and overall lack of professionalism displayed by the support team. As a result, many traders feel let down by the broker's supposed commitment to providing reliable assistance.
FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. While it offers a diverse range of market instruments, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, the lack of proper regulation raises concerns about the safety of traders' funds and the legitimacy of its operations. The high spreads, varying commissions, and relatively high minimum initial deposit of $1000 make it unattractive, especially for beginners. The website's unavailability adds further doubts about the broker's credibility. The customer support is inadequate, with slow response times and unhelpful assistance.
Pros:
Offers a diverse array of market instruments.
Provides multiple trading platforms, including MetaTrader 4 (MT4).
Supports mobile trading for on-the-go access.
Cons:
Unregulated status raises concerns about fund safety and transparency.
High spreads and commissions impact profitability.
High minimum deposit requirements.
Inadequate customer support with slow response times and unhelpful answers.
Website unavailability adds to doubts about legitimacy.
Overall, due to the lack of regulation, high costs, and unsatisfactory customer support, FinMarket is not recommended for traders. It is essential to consider alternative, regulated brokers with better trading conditions and customer service for a more secure and reliable trading experience.
Q1: Is FinMarket a regulated broker?
A1: No, FinMarket is an unregulated broker, which raises concerns about the safety of traders' funds and the transparency of their operations.
Q2: What is the minimum initial deposit required to open an account with FinMarket?
A2: The minimum initial deposit for a Mini account is $250, while the VIP account requires a minimum deposit of $10,000.
Q3: Does FinMarket offer a demo account for practice?
A3: Yes, FinMarket provides a demo account for traders to practice their strategies before trading with real money.
Q4: What trading platforms does FinMarket offer?
A4: FinMarket offers MetaTrader 4 (MT4), a web-based platform (WebTrader), and a mobile trading platform for Android and iOS devices.
Q5: Is customer support readily available at FinMarket?
A5: FinMarket's customer support has been reported as inadequate, with slow response times and unhelpful assistance, making it a source of frustration for traders.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive grand-capital and finmarket are, we first considered common fees for standard accounts. On grand-capital, the average spread for the EUR/USD currency pair is -- pips, while on finmarket the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
grand-capital is regulated by SFC. finmarket is regulated by CYSEC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
grand-capital provides trading platform including -- and trading variety including --. finmarket provides trading platform including Silver Member,Gold Member,Platium Member,Diamond Member,Elite Member and trading variety including Forex Commodities Indices World Shares CryptoCurrencies.