Score
Finotrade
United Kingdom|5-10 years| https://finotrade.com
Website
Rating Index
Contact
Licenses
Licensed Institution：YCM-Invest Ltd
License No.：470392
Single Core
1G
40G
1M*ADSL
- The claimed United KingdomFCA regulation (license number: 470392) is verified as a clone firm. Please pay attention to the risk!
Basic information
United Kingdom
Account Information
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Website
finotrade.com
Server Location
Canada
Website Domain Name
finotrade.com
Server IP
209.15.195.106
Company Summary
BASIC INFORMATION:
Finotrade is a trading name of Finotec UK Limited, a broker based in London and was established in 2007. Finotrade has since gained 10,000 clients who have invested $100 million. The company offers forex and CFDs on indices and commodities on the MetaTrader 4 platform. The broker also provides some additional tools, such as an economic calendar, calculators and a forex training academy.
MARKETS
Finotrade offers 34 major, minor and exotic currency pairs, such as EUR/GBP and USD/TRY, 11 CFD indices such as NASDAQ and FTSE 100, plus commodities including gold and oil.
MINIMUM DEPOSIT
There are 4 account types available at Finotrade: Classic, Gold, Platinum and VIP. The Classic starter account requires a minimum deposit of $1,000, which is high in comparison to other brokers.
The Gold account requires a $10,000 minimum deposit, the Platinum, $25,000 and the VIP, $100,000. These accounts include competitive spreads and additional benefits, such as webinars, an account manager and premium customer care.
The broker also offers a Multi-Account Manager (MAM) account for fund managers, as well as Islamic swap-free accounts.
LEVERAGE
The maximum retail leverage permitted at FCA-regulated brokers is 1:30 on major forex pairs.
TRADING PLATFORMS
Meta Trader4
PAYMENT METHODS
Finotrade accepts deposits and withdrawals via local wire transfers, SafeCharge and UnionPay. Processing fees start from 2.95% for SafeCharge deposits up to $500,000 and 3.5% plus $0.35 for Union Pay. Local bank charges may apply if youre using wire transfers.
Processing times may vary depending on the payment method; details of these can be provided by the customer support team.
ACCEPTED COUNTRIES
Finotrade accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
TRADING HOURS
Trading sessions for forex and commodities are open 21:05 – 00:00 GMT and are closed from 00:00 – 20:55 GMT. For indices, trading sessions run from 00:00 to 20:55 GMT.
CUSTOMER SUPPORT
The customer support team is available via telephone, email or live chat. Note that the live chat service is managed by a chatbot which, when tested, was not able to answer many of our queries.
· Telephone – +44 2033 187 716
· Email – support@finotrade.com
· Address – Finotrade UK, 1-4 Bury Street, Holland House, London EC3A 5AW, United Kingdom
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Clone Firm United Kingdom
- High potential risk
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