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Finspreads Fees and Spreads

Finspreads Fees and Spreads

 

Overall Rating

4.2/5

Rated #387 of 
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

FCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Finspreads commissions is charged on equities. Although there are no charges on deposits made into the trader’s account applicable to payment options, there is however a 1.5% processing fee when using a credit card to make a deposit.

When withdrawing funds, there is a minimum amount of £ 50, a currency equivalent or the remaining account balance. The maximum withdrawal amount in a single transaction is £ 20 000 or currency equivalent.

Finspreads also charges an inactive fee.

Finding a reputable list about Finspreads Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

 

Finspreads offers spread betting which means traders have access to tight spreads and low margins.

Spreads on the different trading instruments are as follows:

  • Forex – spreads start from 0.5pts
  • Metals – start from 0.4 points and a 0.50% margin and depends on the type of metal
  • Commodities – start from 4 points and a 1.00% margin and depends on the type of commodities
  • Shares – start from 0.2% around market and margins start from 4% and depends on the shares
  • Indices – start from 0.4pts and all have a margin of 0.50%

 

Additional Trading Fees

 

When trading financial instruments such as forex, traders can often expect that overnight, or swap fees will be charged when positions are held for longer than a trading day.

Finspreads also has the following costs which are determined by the product the trader uses:

  • Overnight fees on cash – There is a fee charged by Finspreads should a position be held overnight and the longer the position is held, the more it will cost.
  • Currency conversions – should there be any cash, realized profit, and/or losses along with adjustments, fees, and charges that are in a different currency than the trader’s base currency of their account, the conversion will be made using standard rates.
  • Distributor fee on cash and futures – Finspreads may share a certain portion of either the spread, commissions, or other account fees with other persons (distributors).
  • Rollover costs (futures only) – this is charged into the next month or quarter and is equal to half of the spread applicable involved with opening or closing a trade.
  • Commission charge on equities – there is a small fee that is charged every time an SB is opened or closed on equity.
  • Finspreads also charges an inactivity fee on trader accounts that have been inactive for a period of 12 months or more. There is a monthly activity fee of £25 or an equivalent amount to the trader’s cash balance should it be less than £25.

 

Finspreads offers spread betting but it is not clear on the website what spread betting fees apply.

 

Broker Fees

 

Finspreads does not as a rule charge deposit fees or withdrawal fees on the payment methods that can be used.

Although there are no charges on deposits made into the trader’s account applicable to payment options, there is however a 1.5% processing fee when using a credit card to make a deposit.

When withdrawing funds, there is a minimum amount of £ 50, a currency equivalent or the remaining account balance. The maximum withdrawal amount in a single transaction is £ 20 000 or currency equivalent.

Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency which is different from their account base currency.

 

Overall Rating

4.2/5

Rated #387 of 
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

FCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️ PROS ❌ CONS
Competitive trading conditions Inactivity fee charged
Low commissions charged No Islamic Swap-free accounts offered
Tight spreads Overnight fees charged
No deposit fees or withdrawal fees charged

FAQ’s

 

How many instruments can I trade with Finspreads?

  • Forex
  • Metals
  • Commodities
  • Shares
  • Indices
  • Day trades

 

Which platforms are supported by Finspreads?

Advanced web, Finspreads Mobile Apps.

 

Does Finspreads offer leverage?

Yes. Leverage of up to 1:30.

 

What spreads can I expect with Finspreads?

You can expect tight spreads which start from 0.5 points.

 

Does Finspreads charge commission?

Yes. Commissions is charged on equities.

 

Is Finspreads regulated?

Yes. Finspreads is regulated by FCA.

 

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

No. Finspreads does not offer a demo account and although the minimum deposit is low it focussed more on the advanced trader.

 

What is the overall rating out of 10 for Finspreads?

6/10.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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