On-line since: About the company: The Finotec brokerage company was established in 1998. It provides financial services in the forex market. To open a standard account the broker’s clients need $10,000. However, not all traders have such a sum. Thus, Finotec offers mini accounts which require to have only $200 on a deposit. Besides, there are demo accounts. The broker’s clients can benefit from such trading instruments as CFDs, stocks, options, oil, and precious metals. Trading can be performed via Finotec Trading Platform. Beginning traders can enroll in online courses provided by Finotec and E-marketonline, the main forex education center. Moreover, Finotec offers bonuses for traders, who invite their friends.
4/10
(votes 1745)
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Finotec has slow execution on the Mt4 platform, So my trading experience isn’t profitable with them, also their spread could be higher at any time, which is the weirdest condition for scalpers. While my position always goes slippage and their price quote is different rate from the real market. So I think investing is risky with Finotec.
My trading is profitable on Finotec platforms because I get many trading advantages with their built-in analytical tools, indicators, and EA. Also, their service is so excellent, As I am comfortable dealing with them. As the spread is tight and execution almost instant. I can earn $200 so far, and I am satisfied with their Neteller account payment. Overall I say Finotec broker is reliable!
I am not satisfied with Finotec broker. Spreads are normal not a big thing to talk. Re-quote almost my every trades, even their customer service staff keep telling me I have a slow internet connection, but I am using 20mbps internet speed, even others broker platform running smoothly. The worst withdrawal lead-time was more than one month.
The online courses provided by Finotec helped me so much in my trading journey. I already know the basics when I started investing but there were still a lot to learn. The company gave me that opportunity. I was able to widen my knowledge and explore different trading style through their courses. Now, I can proudly say that I am reaching my goals in my trading activities.
I'm so satisfied trading with Finotec. Their platform works so good with instant order execution. Low spread and easy to customize. I can place an order in the position I want without any hesitation. It's also easy to make a profit using the platform, and they always process withdrawal quickly. I can get the money within 3 hours. They are a reliable broker and I would recommend Finotec to all traders.
They often make mistakes that make me suffer losses. And I have quit this broker since 2 weeks ago. This broker's too confusing, complicated and prescriptive system for traders. Their connection was so bad, I can not execute as expected. This often happens repeatedly, and my biggest loss is $3000 in just a few moments.
I have been trading at Finotec for more than a year now. Honestly, my trading experience at this broker is not flawless. There are time when the trading platform would not work properly especially when the market is highly volatile. Sometimes it would crash or lag. But still I continue to trade with this broker because when the market is in normal condition, I still manage to profit. I just steer away from news announcements to avoid huge losses. Besides, this broker has one of the most accommodating customer support team.
Some time ago it was my worst trade when I joined Finotec. I just lost $ 1,900 USD. They also did not allow me to withdraw all my money. They also gave reasons that I did not understand. But I'm sure it's all because of their chaotic connections. The processing is delay compared to their terms and conditions. I recently closed my account with this broker because their policy isn't transparent.
Finotec was one of my choices. I inquired to them and their services seemed promising. However, even before starting, I have already witnessed how faulty their website is. After the inquiry, I revisited their website and it does not load well. It has also happened on the following days and they were very hard to contact. I crossed out this broker from my list because if this happens frequently then I will have a lot of trouble while trading with them.
I recently closed my account with Finotec because their policy isn't transparent. I had hidden commissions, and the spread is not average 0.2 pips as they recommend on the page, but average of 0.6 pips. I traded currency pairs GPB/USD and EUR/USD. Made a first deposit of $500 and lost the first month $325. I called their support team because I had some closed positions during the night because of their server shut down, and a loss of $780, they never restored my positions or my money.
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