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FinQ Brokers Account Types

FinQ Account Types

 

Overall Rating

4.1/5

Rated #292 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FINRA 

📱 Trading Desk

No Dealing Desk

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FinQ provides four different account types, Silver Account, Gold Account, Platinum, and Exclusive Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

Finding a reputable list about FinQ account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

Overview

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. FinQ takes no commission and has multi-lingual client support standing by 24/5 to assist account holders.

FinQ has employed additional security with client funds being kept separately in top-tier global banks, and with payment methods that ensure deposits and withdrawals are completed through vetted reliable providers.

All major credit cards, e-wallets, local payment methods, and wire transfers are accepted for deposits. The broker charges no commission or fees on deposits.

When you withdraw, the broker returns all funds through the same method used to deposit, and the broker charges no commission or fees on withdrawals.

FinQ’s policy on privacy is robust and unless you expressly give consent, data will not be passed to third-party service providers. Personal data will be kept safe and confidential.

In terms of the provided trading platform, WebTrader is one of the most up-to-date popular platforms allowing you to trade over 2,100 assets backed by 90 edit tools, Trending tools, Analysis Recommendation tool, and Events & Trade tool.

These tools are extremely valuable and used every day in strategy creation. The MT4 platform is also available to FinQ traders.

WebTrader is designed and developed for use on the web and mobile app. The app is downloaded for iOS and Android and available on Google Play and Apple Store for free.

FinQ aims to deliver a comprehensive approach to trading by providing all levels of education and tools to assist in analysis and risk management, and with additional training on the features of WebTrader and MetaTrader4.

The FinQ support and dealing desk teams are highly trained experts in the field and receive constant training so they are ready to answer all queries. The FinQ multi-lingual customer service is on call 24/5 and clients can contact the team or account manager through email, telephone, or live chat.

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.

 

Account Types

FinQ offers several diverse types of tailored accounts, including:

  • Silver Account
  • Gold Account
  • Platinum Account
  • Exclusive Account

 

These are further complemented by an Islamic Account and a free demo account.

 

Account Features

Silver Account

  • Daily Analysis: Morning Review
  • Desktop & Mobile Trading
  • 24 Hour Customer Service
  • Events & Trade

 

Gold Account

  • Daily Analysis: Morning Review
  • Desktop & Mobile Trading
  • 24 Hour Customer Service
  • Events & Trade
  • Dedicated Account Manager
  • Premium Daily Analysis
  • Trading Central

 

Platinum Account

  • Daily Analysis: Morning Review
  • Desktop & Mobile Trading
  • 24 Hour Customer Service
  • Events & Trade
  • Dedicated Account Manager
  • Premium Daily Analysis
  • Trading Central
  • Premium Customer Support

 

Exclusive Account

  • Daily Analysis: Morning Review
  • Desktop & Mobile Trading
  • 24 Hour Customer Service
  • Events & Trade
  • Dedicated Account Manager
  • Premium Daily Analysis
  • Trading Central
  • Premium Customer Support

 

Demo Account

The account currencies you can try on the demo account are USD, RUB, and ZAR, after which there are several other steps to immerse yourself further in the demo. This is what the introductory wizard walks you through, after which you are free to experience the simulated markets in more depth.

The account gives you access to a $10,000 virtual money simulation after entering the initial signup details.

The demo account from FinQ includes the following features and benefits:

  • Get fast execution on over 2,100 assets
  • Desktop & Mobile Trading
  • Daily Analysis: Morning Review
  • Access to Forex from anywhere in the world 24 hours a day
  • 30 popular technical indicators and 24 analytical objects
  • Real-time symbol quotes
  • Up to 10 open charts opened simultaneously
  • The widest selection of trading applications in the world
  • 1 700+ trading robots and 2 100+ technical indicators
  • Free and commercial products

 

Islamic Account

FinQ offers Muslim Traders the option of an Islamic Account. However, traders must ensure that they understand the terms and conditions associated with such an account.

If the company suspects that a customer is abusing the rights conferred to them by the classification of the account as an Islamic Account, the company has the right, without prior notice, to proceed with one or more of the following:

  • The company may add commission upon each one of the trades executed on the Islamic Account.
  • The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as Islamic Account, recall the designation of the Account as Islamic Account and render it a normal trading account.
  • Finally, the company may restrict and/or prohibit the customer from hedging their positions.

 

The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

Apart from a demo account, beginner traders can also enjoy access to excellent educational resources.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide variety of tailored accounts Lax regulation
Low minimum deposit Additional features come with a much higher minimum deposit requirement
Excellent selection of trading instruments
MetaTrader available

 

You might also like: FinQ Sign Up Bonus 

You might also like: FinQ Demo Account 

You might also like: FinQ Fees and Spreads

You might also like: FinQ Minimum Deposit

You might also like: FinQ Islamic Account

 

 

FinQ at a Glance

Broker’s Name FinQ
Headquartered Seychelles
Year Founded 2017
Regulating Authorities FSA
Countries not accepted for trade United Kingdom, Germany, France, Norway, Sweden, Italy, Denmark, Belgium, United States, Canada, Australia, Saudi Arabia
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts No
Managed Accounts Yes
Maximum Leverage 1:300 (for professionals)
Minimum Deposit $100
Deposit Options Debit/credit cards, bank transfers, Neteller, FasaPay and Skrill
Withdrawal Options Debit/credit cards, bank transfers, Neteller, FasaPay and Skrill
Platform Types MetaTrader 4
OS Compatibility Windows, Mobile, Web, iPhone, iPad

PC and Mac OS, mobile for Android and IOS

Tradable Assets Stocks, Forex, Indices, Commodities, Bonds, Crypto, ETFs
Languages supported on Website English, Arabic, Indonesian, Malay, Spanish, Vietnamese
Customer Support Languages English, Arabic, Indonesian, Malay, Spanish, Vietnamese
Customer Service Hours 24/5

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with FinQ?

A wide range of assets can be traded on, particularly with regards to individual shares. Close to 2,000 shares can be traded, primarily the ones quoted on leading global exchanges like the UK, USA, and Germany.

Traders can trade Forex, Commodities, Indices, Bonds and ETFs in addition to individual equities.

 

Which platforms are supported by FinQ?

MetaTrader 4.

 

Does FinQ offer leverage?

Yes. The leverage offered by the broker varies from 1:50 up to a maximum of 1:300, depending on your experience level.

 

What spreads can I expect with FinQ?

The broker offers fixed spreads in every type of account, and spreads are 1.9 pips on EURUSD.

 

Does FinQ charge commission?

No, FinQ does not charge commissions on trading.

 

Are there additional charges on the Islamic account?

No.

 

Is FinQ regulated?

Yes, FinQ holds a licence from the FSA in Seychelles.

 

Is FinQ a recommended forex trading broker for experts and beginners?

Yes. FinQ caters for both beginners and experts.

 

What is the overall rating out of 10 for FinQ?

7/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does FinQ offer a demo account?

Yes.

 

For how long is the demo account valid?

Unfortunately, the broker does not indicate the duration of the demo account’s validity. Customer support should be contacted to confirm the demo expiry date.

 

Does FinQ offer the option of an Islamic Account?

Yes.

 

Which live trading accounts does FinQ offer?

FinQ offers several diverse types of tailored accounts, including:

  • Silver Account
  • Gold Account
  • Platinum Account
  • Exclusive Account

 

What are the available deposit currencies for a live trading account?

FinQ accepts a variety of different deposit currencies, including smaller currencies such as ZAR (Rand).

 

Deposits and Withdrawals

 

What is the minimum deposit for FinQ?

The minimum deposit amount required to open a broker account with FinQ is $100. This is a standard minimum deposit requirement when compared to most brokers in the industry.

 

How do I make a deposit and withdrawal from FinQ?

Both deposits and withdrawals can be made via a few different methods, including debit/credit cards, bank transfers, Neteller, FasaPay and Skrill.

 

Does FinQ charge withdrawal fees?

No, although your payment processor may charge fees that are beyond the broker’s control.

 

How long does it take to make a withdrawal?

E-payment withdrawals are typically instant, while bank wire transfers can take up to 3 working days, depending on your bank and location.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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