FinMarket Case Study: Transparency, Trading Platforms Are Key Benefits
Before you can decide to put your faith and your money into any investment, it’s essential to understand the building blocks that make the opportunity and risk. Today, FinMarket is the subject of discussion, and by the end you should understand how this online broker fits into the process of self-trading forex, commodities, stocks, indices and even cryptocurrencies on the global market.
Entire books have been written on trading underlying financial assets. Trading can be conducted around the world by exchanging the value of U.S. dollars, for example, for an equivalent value of another currency, such as euros. The core of this transaction is the currency exchange rate. Currency is traded over the counter, which most know as OTC, though there isn’t a physical “counter” over which trades are made. Transactions take place through computer networks with traders around the world participating from their location, by speculating on rise or fall in asset prices.
Choosing the right asset to invest in is crucial. On the other side, choosing the right broker is the other key element in making successful investments. In the case of trading forex, the asset is a currency pair. A forex broker provides trading services, guided and directed by legal standards and regulatory conditions. This is, in basic terms, what FinMarket does – provide trading services backed by the guarantee of safety and regulation.
Important advantages worth mentioning when trading with FinMarket:
- Cyprus Securities and Exchange Commission regulation
- Required to deliver services transparently and securely
- Client funds held separately from operation accounts
- Account managers for each client
- Chat, phone, mail, and facebook support
- No to low commission promotional offers
- Low spread on EUR/USD transactions
The variety of trading platforms is also a key feature for this broker service, with Metatrader4 for PC, WebTrader for PC, and a mobile app for any mobile device. This last way of trading has become extremely popular in recent years with the advancement in applications for the iPad, Smartphone or tablet. This method allows a trader to make timely decisions in almost any location with internet or wi-fi.
Funding Accounts, Withdrawals
FinMarket has been proactive in giving clients the ability to fund their accounts with most of the widely used methods including major credit cards, wire transfer, and several other secure payment methods. Withdrawals operate with a standard 48 hours for withdrawal procedures with funds viewable on bank statements in 10 business days or less.
For traders who consider themselves novices, this broker makes their trading academy available, so individuals have a grasp of trading basics before putting money into play. Courses are offered at various levels from beginner to advanced, with focus on everything from trading strategies, to risk management to education on the various trading platforms we touched on earlier.
But that’s not all this new and exciting online broker has to offer. FinMarket traders can enjoy zero fees on deposits, negative balance protection, and flexible account types starting from only $250. You’ll find an extensive list of features and benefits on the brand’s account types page.
Registration is straightforward and convenient. On the company’s front page, you’ll find a button inviting you to open a new account. From there, you provide basic information such as name, email address, and a create a password. Continue through the next few steps, always remembering that there is no obligation to trade. You’re not required to fund your account immediately so browse the site to gather more information. Perhaps you’d like to open a demo/trial account and use “practice” money to learn the ropes.
Is FinMarket a Scam?
To begin answering this question, keep in mind that all activity is regulated by the Cyprus Securities and Exchange Commission. Other market regulations and laws also apply, including the European Markets in Financial Instruments Directive (MiFID). Therefore, FinMarket has proven itself as a fully-compliant, fully-legal and fully-legit online broker holding a good reputation established over their two years of operation.
If you have further concerns, you should definitely look up more material surfacing on the net, which include mostly positive reviews. Also, view the policy statements and legal documentation made available to the public at the FinMarket website.
As a way of reviewing and summarizing information that would answer the question “Is FinMarket a scam?” consider the strict Cyprus regulations as well as the MiFID guidelines just mentioned. It’s also important to keep in mind that client funds are held in accounts separate from company operating funds. Computer encryption is in place to protect data during transactions as well.
The question then becomes, “If you want to be active in online trading, should you do it with FinMarket?” Remember that all trading is risky, but between the supervision of FinMarket’s experts, the free practice account and advanced risk management tools, trading with FinMarket is as safe and reliable as it comes. As with any decision about choosing an online broker, you should devote time to reading reliable 3rd party reviews.
Once you’re satisfied with your research and you’ve gathered opinions from three or four sources, you can always begin with a mini-account or use the practice account to wet your feet and to get a feel if the relationship is going to work. Good luck and happy trading!