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Finexo Review

Finexo rating: 2 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 5 (2 votes, average: 4.00 out of 5, rated)
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finexoFinexo is the top brokerage company that was established in 2003 by veterans in global financial industry and has its administrative headquarters in Dusseldorf, Germany.
The stated objective of the company is to bring average investors to the forex market and demolish the notion that forex trading is only meant for the elite and professional investor.
The Company is registered as Finexo Global Investments Limited and offers apart from forex trading, forex options and CFDs on stocks and indices. The site can be accessed in English, Arabic, Chinese, Dutch, French, German, Portugese, Russian and Turkish.

Company’s Market Position

In 2004 Finexo entered into a White Label affiliation with Saxo Bank which is one of the most formidable online forex trading firms based in Copenhagen, Denmark. This has greatly enhanced this brokerage company’s market position in global financial markets. Simultaneously this has brought Finexo in compliance with the financial regulations set forth by the European Union. These regulations require forex broker trading firms to maintain enough liquid reserve capital to cover their deposits and to maintain fair and equitable business practices.
Further substantiating the Company’s market position is the fact that the company’s trading platform has been the winner of Euromoney and Fx Week awards for several years.

Types of Services offered

Fifty seven currency pairs can be traded using the Finexo platform.
Finexo offers a Mini, Classic and VIP account facility which means it caters to traders of all experience levels from the beginner to the expert.
Mini Account~ It can be opened with a $25 minimum deposit. Here the leverage offered is 200:1 and the spread is 5 pips for major currency pairs.
Classic Account~A $500 minimum deposit is required to open this account. The leverage offered is 200:1 and a 3 pip spread is offered.
VIP Account~A $5000 minimum deposit is required to open this account. Here the leverage offered is 200:1 and the spreads are just 2 pips for major currency pairs.
However no commission is leviable apart from the bid/offer spread.

Trading Platform

It is an online trading platform which means you can trade from anywhere in the world if you have a PC and an Internet connection. If you were traveling you could still use Finexo if you have a wap enabled cell phone. You could do so by using the mobile trading Finexo platform.
The security features in the platform is also excellent, which means your money is never compromised. Also there are hardly any technical glitches in the platform so the down-time record is negligible.

Trader Support

Trader support is fairly reasonable in terms of online chat and email facility.

Site Design and ease of Navigation Comment

There is some difficulty in navigating the site in terms of finding a demo account provision etc. But for example if you chat online with their company representative they at times provide you with a demo account valid for just three days. This is a arbitrary way of dealing with things.

Advantages

In the Finexo platform you can do forex trading via mobile phone. That is a big advantage for the person always on the move. Finexo has some versatile trading options. For example, you could make what is known as an “entry order”. An “entry order” allow you to open a trade at a future price that you specify, if that price is hit or breached.
There are multiple ways you could deposit money into your real Finexo account. You could do so by Credit Card, Wire Transfer, PayPal, e-Bullion, Liberty Reserve or Money Bookers. This is no doubt an appealing feature.

Disadvantages

Unfortunately Finexo does not readily offer a demo account that you could apply for from the website. This feature does not exist and that is a minus point.

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2 Comments»

Comment by Ginger
2009-08-07 14:15:27

My experience with Finexo although minimal convinces me that it has got German professionalism written all over it.
Fifty seven currencies to trade, that’s an awful lot in any platform let alone Finexo. Can the trading platform handle this load? Sure it can. Secondly from the beginner to the expert, all are catered to in the variety of Finexo platforms namely Mini, Classic and VIP.
All you need is $25 and you can get going with a Mini account. Are you hi-fi in the sense do you have a wap enabled cell phone? Then go ahead and use the mobile trading Finexo platform just as I do when I am off on a holiday.
What I like best with Finexo is the “entry order” facility, which means the platform will open a trade at a future price you specify in advance. I always think that Finexo trading experience is personalized, with 24 hour fixes on any issues, and that makes me feel good and wanting to do more trades with them. After all nothing like getting personal attention from your brokers

Ginger ratings for this post: Ginger gives a rating of 4Ginger gives a rating of 4Ginger gives a rating of 4Ginger gives a rating of 4Ginger gives a rating of 4
 
Comment by morgan
2009-08-25 12:57:57

These are Euromoney and Fxweek award winners.Pretty accomplished as brokers!!

morgan ratings for this post: morgan gives a rating of 4morgan gives a rating of 4morgan gives a rating of 4morgan gives a rating of 4morgan gives a rating of 4
 
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