FinForce FX Review
The FinForce FX Company has been serving Forex traders since 2003 as a subsidiary of a different Forex broker. In 2005 FinForce opened as an independent Forex brokerage with the goal of providing Forex traders worldwide with online trading services. The company offers currency trading tools and services with advanced trading options for CFD’s on spot FX, futures, stocks and spot precious metals. The site also features open positions, charts, traders contest and FX levels and Forex News.
During our FinForce FX review we were unable to confirm that the company is, in fact, regulated. Though we saw some other reviews claiming that the brokerage is regulated by CySEC, we could not find any confirmation on the broker’s website in this regard. FinForce FX is based in Russia, and their website is available in English and Russian only.
FinForce FX Trading Platform
FinForce FX offers the downloadable version of the MT4 platform only. Traders looking for a web-based platform or proprietary software that may enhance their trading experience will have to look elsewhere, at top Forex brokers such as eToro or Markets.com.
Traders looking to test the waters can use the company’s demo account to try out different Forex trading strategies or to see how FinForce’s version of the MetaTrader 4 platform works. Oddly, there is no minimum deposit required in order to open a live account with FinForce FX, though clearly traders who do not deposit cannot trade Forex on their live account.
Finforce FX claims that they implement multiple risk management to help their clients remain profitable in the Forex market. Such risk management techniques include the sharing of strict disciplines, trading ideas and technical analysis to help clients build their investments.
Traders willing to deposit a minimum of $50,000 with FinForce FX can take advantage of the company’s managed accounts, through which account managers tend to the client’s funds. FinForce’s website claims that each client’s money is maintained separately so that there is no pool of funds.
- Headquarter : Russia
- Regulation : None
- U.S. Clients Allowed :
- Maximum Leverage : N/A
- Type of Platform : MetaTrader 4
Pros and Cons
- No minimum deposit for a live account
- Flexible leverage
- Not regulated
- Difficult to contact FinForce FX
- MT4 only
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