Post Type Description
FXTM Licenses
GO Markets Licenses
FP Markets Licenses
Pepperstone Licenses
BDSwiss Licenses
Axiory licenses
Axiory Global Limited – authorized by IFSC (Belize) registration no. 000122/15
HotForex Licenses
HF Markets (UK) Limited – authorized by FCA (UK) registration no. 801701
HF Markets (SV) Ltd – authorized by FSC (Mauritius) registration no. C110008214
Eightcap Licenses
Eightcap Pty Ltd – authorized by ASIC (Australia) registration ABN 73 139 495 944 AFSL 391441
Finq provides trading in CFDs by offering tried and tested reliable platforms for web and mobile with over 2100 assets – stocks, commodities, forex, ETFs, indices, bonds. According to the website, Finq takes no commission and has multi-lingual client support standing by 24/5 to give assistance for account holders. On Finq, they guarantee some of the lowest spreads in the market and zero commission, whilst offering leverage up to 1:300.
Among the platforms offered by Finq the WebTrader is one of the most up-to-date popular platforms giving clients an opportunity to trade over 2,100 assets backed by 90 edit tools, Trending tools, Analysis Recommendation tool and Events & Trade tool. The MT4 platform is also available to Finq traders.
| 🗺️ Registered in | Seychelles |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is FINQ safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
It is not safe to trade with Finq, as it is an offshore company. Finq.com is operated by Dilna Investments Ltd which is the primary payment provider and website operator. Dilna Investments Ltd is acting on behalf of its mother company, Leadcapital Corp Ltd is regulated as a Securities Dealer by the Seychelles Financial Services Authority.
The point is that Seychelles offers an easy process of financial or investment firm establishment, through a very low list of requirements, small budgets and what is more crucial with no strict supervision of the brokers’ operation or history. For that reason, offshore zones attract vast non-scrupulous or shady brokerages such as Hugo’s Way, Prime XBT that aim to attract clients, to grab their funds and disappear.
There are a lot of offshore-registered brokers out there claiming that offshore registration is a legit thing that allows them to do business in the financial market. However, most of them are simply registered, and not licensed, nor monitored by any governmental agency, which makes those firms the most dangerous places for investing.
Finq has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.
The United States is one of the countries that is not accepted by Finq. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Finq, you are only permitted to trade with the U.S regulated platforms.
The minimum deposit in FINQ.com is $/€/£ 100. The broker offers several payment methods: debit/credit cards, bank transfers, Neteller, FasaPay and Skrill.
Finq provides its traders with mobile trading through its iOS and Android apps. The traders can trade on the branded Finq WebTrader to access 2,100 assets from the world’s financial markets with free apps for mobile trading. They can view the Traders Trend Bar, see the Trending Now asset list, and use Stop Loss, Take Profit, Entry Limit and Entry Stop as they trade. Most importantly, the broker’s technical team constantly updates its app to give traders the best solution for trading anytime anywhere, so they never have to miss an opportunity to trade.
Finq offers a demo account so you can try the Finq platform with virtual trading before you put down a payment. This FREE demo account comes loaded with $10,000 of virtual money. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.
In any case, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple: the broker may promise the most competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a company means the trader will believe only on the broker’s words, and of course, it is a high risk.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.
You can also share your trading experience with Finq by commenting on this review.
Brokerz offers trading with Forex, CFDs, stocks, commodities and indices. Brokerz was founded in 2013 by a group of professional traders, investment managers and software engineers. The broker doesn’t disclose any information about its regulation and we suppose it does not fall under any regulatory oversight.
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Brokerz safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
Brokerz is not safe to trade with it. Brokerz is owned by Brokerz ltd which is an offshore company registered in St. Vincent and the Grenadines.
However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.
In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such companies means the trader will believe only on the broker’s words, and of course, it is a high risk.
Moreover, Brokerz has been blacklisted by the Austrian Financial Market Authority (FMA):
“Brokerz Ltd is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others”
The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As Uptos got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
Brokerz has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.
The United States is one of the countries that is not accepted by Brokerz. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Brokerz, you are only permitted to trade with the U.S regulated platforms.
The minimum amount to open a Brokerz account is $/€/£ 250. Brokerz accepts a wide variety of payment methods, such as: Credit/Debit card (Visa, MasterCard or Diners Club), Fast Wire Transfer.
Brokerz does not charge clients when they deposit funds into their accounts. However, they recommend you check with your bank or credit card company for any money transfer costs and/or extra charges.
If a client deposits over $2,500, any transfer fees will be covered by Brokerz. Funds can be transferred directly to your bank account by wire transfer or returned to your credit card. However, a withdrawal can only be made using the exact same method you used for depositing. Withdrawal requests are usually processed within three business days of receipt of all required documentation.
All of the Brokerz’s mobile trading platforms are completely integrated with their trading software and online trading platforms, made to give traders the flexibility and choice of trading on their desktop, tablet or mobile. The traders get 24 hour dedicated support and trading platforms accessible whenever they need.
The broker offers a time-unlimited Demo account that provides you access to its MT4 demo platform. You can open as many demo accounts as you wish and have the chance to become familiar with the platform and its functionality for an unlimited period of time. For beginners, demo trading is the recommended starting point. The broker is able to provide screen sharing demos of how to use the software with a member of their technical team. More experienced traders might also find this demo account useful to understand broker’s trading conditions, pricing and the symbols it offers. They might also be interested to conduct back-testing or try out manual or automated strategies, all of which are supported.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.
Yet, it is always great to hear your personal opinion about Brokerz. So you may share your experience or thoughts or discuss them below or ask us for additional information.
