FINAM Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-04-21 14:27

Abstract：Finam Forex is part of the Russian Finam Holding (which provides banking, brokerage, aircraft, and helicopter rent services). Finam forex is not currently regulated in any way.

Registered Country/Region	Moscow, Russia
Regulation	NBRB
Minimum Deposit	$0
Maximum Leverage	1:40
Minimum Spreads	0.6 pips on USD/EUR
Trading Platform	MT4, QUIK, TRANSAQ, FinamTrade, MT5
Demo Account	Yes
Trading Assets	Forex, Commodities, Indices, Oil, Gold,
Payment Methods	VISA, MasterCard, Bank Transfer, skrill, Neteller
Customer Support	Phone, Email, Online Chat

　　General information & regulation

　　Founded in 1994, Finam Forex is part of the Russian Finam Holding (which provides banking, brokerage, aircraft, and helicopter rent services). Finam Forex has offices in over a hundred cities in Russia and is a member of NAUFOR (National Association of stock Market Participants).

　　This broker provides access to a wide range of currency pairs and other trading instruments, and it is regulated by Russian legislation and services are provided through a license from the Central Bank of the Russian Federation.

　　Market Instruments

　　Finam offers a relatively small number of Forex currency pairs compared to other big brokerages, only 26 pairs. Additionally, investors can trade stocks, commodities, indices, oil, and gold with Finam.

　　Accounts & Leverage

　　There comes only one standard account on the Finam platform, with a minimum deposit of $100, a minimum trade size of 0.01 lots, and maximum trading leverage of 1:40.

　　Spreads & Commissions

　　Finam's platform has a fixed spread of 1 pip for EURUSD and 2 pips for USDCHF and GBPUSD, which seems quite appealing. Finam claims not to charge commissions for trading.

　　Trading Platform Available

　　Finam offers investors the most popular MT4 trading platform, which has been around for 10 years and is the preferred choice of most Forex traders. MT4 trading platform has a powerful charting package, technical indicators, and several customization options and supports EA and automated trading. Besides, MT4 can help traders of different levels to develop different trading strategies.

　　Deposit and Withdrawal

　　There is no minimum deposit required when opening an account with Finam. Finam supports traders to deposit and withdraw funds to their investment accounts via bank transfer. No other deposit and withdrawal methods are disclosed.

　　Customer Support

　　Clients who have any inquiries or trading-related issues can get in touch with Finam through the following contact channels:

　　Telephone: +7 （495）1-346-346

　　Company Address: Россия, 127006, г Москва, пер Настасьинский, д.7, к.2, кв.КОМНАТА 33

　　Or you can also follow this broker on some social media platforms, such as Facebook, Instagram, Youtube and Twitter.

　　 Pros & Cons

Pros	Cons
Demo Account offered	No strong regulation
Low spreads, no commissions	Limited deposit and withdrawal options
MT4 trading platform	One account option available only
No minimum deposit requirements	No Islamic account
Various educational tools available