Finpro Trading is a legally registered forex broker located in the Seychelles, but not regulated by any government agency.
Finpro Trading accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|60+ Currency Pairs||Based on major and minor world currencies.|
|9 Indice CFDs||Based on baskets of different blue-chip stocks.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|3 Energy Spot CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
Finpro Trading is another offshore-registered forex and CFD broker with its registered office address in the Seychelles. The Seychelles business registration, however, also means that the broker is unregulated by any financial regulatory body. Traders will therefore have to take the broker at its word that it will abide by all obligations. Still, the problem with this approach is that there will be nowhere to turn in the event of a dispute between the trader and the broker.
Regardless of the lack of regulation, however, Finpro Trading has operated for more than five years without any major incidents that we are aware of. The broker also specifically promises on its website that client funds are kept in segregated account at “top global banks,” so that these funds cannot be used to offset any losses elsewhere.
Following the success of many other so-called social trading brokers, Finpro Trading is also trying out this model with technology from leading providers like Zulu Trade, MyFx Book, and MQL5 by allowing traders to pick and choose trading strategies to follow with their own portfolios.
Finpro Trading offers its users a choice of five different account types:
– Pure ECN Account - tight spreads starting from 0.0 pips
– Standard STP Account - commission-free trading
– Micro Account - for beginners and traders with small trading accounts
– Islamic Account - Sharia-compliant trading for Muslims
– VIP Account - superior trading conditions for traders with an initial deposit of USD 25,000 or more
The minimum deposit required to start trading is as little as USD 5, payable in bitcoin, various online money transfer services, or international credit cards like Visa and MasterCard.
New clients are welcomed with two bonus programs designed to increase the trader’s leverage. The first bonus program is a 100% Deposit Bonus that essentially gives a new trader free money to trade with. Profits made with the bonus amount can be withdrawn, although the specifics of this appear a bit unclear, and certain restrictions apply.
The second bonus program is designed to protect traders during the inevitable draw-down every trader will experience from time to time. Known as the “30% Rescue Bonus Program,” this program applies to any deposit over USD 50, and essentially increases the leverage on the account. However, the bonus amount cannot be withdrawn, making its usefulness somewhat questionable.
In addition, Finpro offers a free VPS service to all clients who makes a deposit of more than USD 5,000 into their trading accounts. With desktop-based trading platforms like MetaTrader, a VPS service is necessary in order to run automated trading strategies whenever the trader’s computer is not turned on with an active Internet connection.
In total, Finpro offers trading in more than 500 instruments, ranging from currencies, commodities, stock indices, as well as CFDs on certain exchange traded funds (ETFs) and individual stocks.
When it comes to trading platforms, Finpro offers the choice between the classic MetaTrader 4 platform and social trading platform Zulu Trade. Both platforms are offered both in the downloadable desktop version, as well as a web-based version and mobile app.
Lastly, customer support is available through a UK phone number, email, and an online live chat option open 24 hours a day, 7 days a week.
In my opinion this is fair broker for forex trading. My emphasis here are on very tight spreads on major pairs and also that this broker allows all types of hedging, as well as use of ea on MT4 platform. I am trading major forex pairs here for last two months. I didnt experienced any issue with work of the platform, everything is running smoothly. Hope that it will stay so in the future :). Spreads on micro account are quite reasonable. Major pairs are ranging from 1-3 pips during US trading session, while during time of high volatility they can go up but indeed no more than 4 pips on EURUSD for example. There are no hidden costs of trading. I think that costs are quite transparent with this broker. I have option here to use leverage of 500:1, with small overnight fees for leverage used, which is fine for me. Margin call is at 70%. Deposits and withdrawals are without fees from brokers side while crypto wallets are supported. On a negative side, at this moment I dont have anything special to add. I just hope that it will be so also in the future.
The spread provided competes with the spread of some top ranked brokers I know. Finpro is doing well and I am encouraged by the services rendered. Support also replies promptly; the replies are fast and I do not have to wait for a long time to get a response for any message I send. And lastly, I have also not noticed a case of chart manipulation. Charts are manipulated by many brokers to make sure retail traders lose their money. The services here are okay for now.
Of all the brokers I've ever used, finprotrading has proven to be the most adequate. Spreads are low, plus they are low on cost (commission is just $2 RT) and as for customer service, there’s no issue here either. All in one broker.
These guys are back. Loved their trading conditions back then, and loving them now too. The best broker is back in the game. Definitely a must try.