Finansero Review 2024

Finansero Review - Key Features

ETF Trading

Finansero offers access to various ETFs across several countries through contracts for differences (CFDs) which are derivative contracts that mimic the price action of underlying assets without owning them.

The platform currently offers 10 ETF CFDs with leverage as low as 1:5 and as high as 1:10.

Share Trading

Users can access 196 stocks from 24 countries’ stock markets on the Finansero platform, with leverage of 1:5 for retail accounts and 1:10 for professional accounts.

Commodities Trading

Finansero offers access to trade 26 commodities, from popular metals like Gold and Silver to other goods like Corn, Cocoa, Sugar, Wheat, and even natural gas with leverage up to 1:20 for retail accounts and 1:200 for professional accounts.

Crypto Trading

Traders get access to 13 cryptocurrencies to trade via CFDs with a conservative leverage facility of 1:2 for both retail and professional accounts due to the volatile nature of cryptocurrencies.

The cryptos listed include CFDs of the popular Bitcoin, Ethereum, Litecoin, and Ripple, but also fan tokens like the Juventus Fan Token, and a miniBTCUSD CFD for traders who want to trade smaller sizes.

Forex Trading

Forex traders get access to 45 currency pairs with leverage of up to 1:30 for retail accounts and 1:200 for professional accounts. The selection includes major pairs like EURUSD, GBPUSD, and USDJPY and cross pairs like EURGBP and exotics like USDZAR.

Indices Trading

Finansero lists indices from markets around the world, like the popular S&P500 for the New York Stock Exchange in the US, the VIX volatility index, the German DAX, the Japanese NIKKEI, and others. The leverage for Retail Accounts is up to 1:20 and for professional clients 1:100. Altogether, Finansero offers 28 tradable indices.

Synthetic Derivatives

Synthetic derivatives are instruments that are created from underlying assets, in Fiansero’s case, these assets are indexes of assets in various industries provided by a third-party company.

Finansero offers 27 synthetic derivatives across the metals, oil, and stock markets with leverage of 1:5 across retail and professional accounts.

Trading Platforms

Finansero offers the XCITE trading mobile app and desktop platform for users to access the markets and execute trades. The mobile app works on Android and iOS while the platform works with Windows and MacOS.

XCITE comes equipped with over 300 charting tools to help you analyse the markets, dynamic order types, an economic calendar, and a live market feed.

Multiple Account Types

Finansero offers two major account types: retail and professional.

Retail trading accounts are suited for the regular trader and come in nine levels based on the amount of equity in relation to deposits and/or profits from trading activity. Below is a table highlighting all levels and the amount of equity required.

Each level comes with benefits that increase as they rise. For a list of all benefits at each level, visit the account types page. New retail accounts have five educational trades, which are trades that give you your money back if you lose and reverse gains if you win.

The point of these educational trades is to get you acclimated with the market and the platform.

Professional accounts are a bit more straightforward than retail ones. They come with higher leverage, segregated trading accounts that offer promotions as can be found on the account types page. However, they require users to waive their right to investor compensation and the Ombudsman protection.

How Does Finansero Work?

Finansero works similarly to other brokers and trading platforms that offer trading services and access to various securities. Users start by creating an account, passing the KYC process, and then funding it with at least $200.

To pass KYC, you must submit a valid governmental Identification Document and a proof of address document not more than 6 months old that displays your name and address. Once KYC has been completed, you can fund your account and begin trading.

Finansero uses contracts for differences to offer securities to traders. These CFDs are derivative assets that mimic the price action of the assets they represent, allowing traders to long and short them without having to own the underlying asset.

As such, leverage facilities of up to 1:30 for retail clients and up to 1:200 for professional clients can be applied to some contracts.

You can deposit funds using a credit/debit card, a popular e-wallet provider like Apple Pay, Google Pay, Skrill, or a wire transfer. Limits include a $200 minimum for cards, e-wallets, and wire transfers.

Withdrawals are done using the same deposit methods but with minimum limits of $10 for cards and e-wallets, and $50 for wire transfers.

Bank deposits have no maximum deposit or withdrawal limits, card deposits and withdrawals have a maximum limit of $10,000, while e-wallets have a maximum deposit limit of $15,000.

4 Steps to Sign up for an Account with Finansero

1. Register

Register for an account by clicking the “Register” button on the homepage and filling out the form with your name, email, and phone number. Alternatively, you can sign up with your Google or Facebook accounts.

2. Verify Your Identity

Pass KYC by uploading a valid Identification Document and a proof of address document like a utility bill.

3. Make a Deposit

Next, deposit some funds into your account. The minimum amount for your first deposit is $200 through either credit cards, bank wires, or e-wallets like Skrill.

4. Start Trading

Once you deposit funds, you can trade on the live market. You can choose whether you want a retail or professional trading account.

History of the Finansero trading platform

Finansero is a brand name of Global Trade CIF Ltd, a Cypriot Investment Firm licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 190/13.

Its licence allows it to offer investment services, which include the execution of orders on clients’ behalf and transmission to the financial markets.

Its status as a Cyprus Investment Firm (CIF) allows it to offer currency conversion services, financial custody services, and loan services all in line with its operations as a broker that offers CFDs, accepts deposits in multiple currencies, and offers leverage facilities.

Is Finansero Safe?

As far as regulation and security go, Finansero is safe because it implements industry-standard security measures to protect its systems and mandates KYC for all new accounts.

The broker also holds a licence from the Cyprus Securities Exchange Commission (CySEC) which requires it to adhere to high levels of information security, compliance, anti-money laundering processes, and operational fairness.

So far, there have not been reports of data breaches, financial losses resulting from lax security protocols, improper trading practices, or issues with clients withdrawing funds.

Which CFDs Can You Trade With Finansero?

Cryptocurrencies

Cryptocurrencies are digital assets that are built on blockchain networks. They can serve various purposes, such as the role of money, being used to pay for utilities, as securities that signify ownership of an entity, or as a store of value.

Forex

Forex is a popular term for the foreign exchange market which is comprised of currency pairs of major and minor nations. Traders buy one currency (base currency) using another (quote currency), ideally when they believe the value of the base currency will rise compared to that of the quote.

Indices

Indices are aggregates that measure the price performance of a basket of assets. Indices can be created for various assets like stocks, bonds, cryptocurrencies, real estate investment trusts, and even oil. However, indices on Finansero are largely centred around stocks.

Commodities

Commodities are real goods like Coffee, Corn, and precious metals like Gold and Silver that are usually traded using futures contracts. Finansero offers commodities using CFDs that track the prices of the futures contracts.

ETFs

Exchange traded funds are indices that track the performance of a basket of assets, but trade like shares on a stock exchange. ETFs can track specific assets or even other indices, like the SPY (SPDR S&P500 ETF Trust) that tracks the S&P500 index.

Synthetic Derivatives

These are instruments that are created by investment fintech firms to mimic the price action of an underlying instrument while changing some key characteristics, like the duration or cash flow.

Stocks

Stocks are shares in publicly traded companies. They are usually available on stock exchanges in the countries where the companies are registered, although some companies also list on foreign stock exchanges.

Is Finansero Suitable for Beginners?

I’m a Beginner

Beginner traders lean more towards platforms that are streamlined and easy to use, that provide educational materials and insights to ease decision-making, and a community to interact with.

Finansero features an easy signup process, an economic calendar to keep track of important releases and events and a live news feed.

The selection of trading instruments listed is also an important consideration for beginners as they may want to experiment with various instruments to see which ones they most resonate with.

In this case, Finansero offers over 300 assets that are available to all traders.

I’m an Expert

Advanced traders are usually more concerned with execution speed, spreads, cash management, and advanced tools.

The professional account offers more leverage for traders to increase their profit margins and low spreads.

Factors to Consider Before Using Finansero

Security

Security is the first consideration for a broker like Finansero. You must ensure the broker is entirely secure, using up-to-date SSL encryption and network firewalls. Finansero’s security systems are secure enough to safeguard sensitive data.

Licences

Finansero holds a licence from the Cyprus Security Exchange Commission (CySEC) which allows it to provide investment services like offering tradable securities to clients, custody securities on behalf of clients, and granting loans for its leverage facility.

More importantly, Finasero’s license means that the company is beholden to industry rules and standards for compliance and money laundering.

Payment Methods

As a rule of thumb, the more payment methods available, the better. Finansero offers three major payment methods: bank cards, e-wallet services, and wire transfers. While the list may be far from exhaustive, it includes the major methods that people already use daily.

Securities List

With over 300 CFDs available, traders have enough options to trade from. You can choose from seven asset classes, including equities, commodities, currency pairs, indices, cryptocurrency, ETFs, and synthetic derivatives.

Customer Service

Finansero provides customer support through live chat, email, a support section on the website, telephone, and instant messaging via Whatsapp. The team is available to help on all channels.

Finansero Fees and Costs

Spreads

Finansero adds a markup to the bid-ask spread of each security traded, which essentially means that the cost of executing trades is baked into the market price. Spreads are fixed for all securities aside from synthetic derivatives and can be found on the company’s product sheet and cost page.

Rollover Fees

Rollover fees are charged when positions are held overnight. They include:

• Forex = 0.015%
• Commodities = 0.026%
• Indices = 0.026%
• Shares = 0.055%
• ETFs = 0.055%
• Synthetic Derivatives = 0.06% – 0.40%
• Cryptocurrencies = 0.50%

Deposits and withdrawals

Finansero does not charge fees for deposits or withdrawals. However, keep in mind that your payment provider may charge fees.

Payment Methods & Withdrawal Limits for Finansero

Credit/Debit Cards

Finansero accepts deposits and withdrawals using credit or debit cards from providers like Mastercard and VISA. The minimum and maximum deposit amounts for this method include $200 and $10,000, respectively, while for withdrawals, it is $10 and $10,000.

eWallets

eWallets are electronic wallet providers like PayPal, Skrill, and Neteller that allow users to store funds in a digital wallet and pay for items. This payment method is as fast as credit cards but usually less expensive.

The minimum and maximum deposit amounts for this method include $200 and $15,000, respectively, while for withdrawals, it is $10 and $15,000.

Wire Bank Transfers

Wire bank transfers are regular transfers between bank accounts. They are not usually as fast as credit cards or e-wallets and could take a few days in some cases but are usually cheap (aside from international wires).

The minimum deposit and withdrawal amounts for this method are $50, while the maximum amount is unlimited as traders can withdraw or deposit as much as their banks allow.

How Does Finansero Compare to Other Crypto Trading Sites?

Finansero is one of many brokers that offer trading services to users around the world. If you’d like to test it against others in its class, use the table below.

Finansero Regulation and Security

Regulation

Finansero, a brand name of Global Trade CIF Ltd, is regulated by the Cyprus Securities Exchange Commission (CySEC) as a Cyprus Investment Firm (CIF), allowing it to offer brokerage and trading services.

Security

Finansero is secure as the site implements up-to-date SSL encryption to safeguard sensitive data. It also requires all accounts to undergo KYC to ensure that they adhere to anti-money laundering guidelines.

Reasons to Use Finansero

Simple Deposits

Finansero simplifies the deposit and withdrawal process by laying out the supported methods and their limits. While the list of methods may not be as much as some other brokers, Finansero ensures that the methods it chooses are popular.

Multiple Customer Support Channels

Finansero maintains several communication channels to reach its customer support staff. Like the telephone, email, live chat, support section of the website, and instant messengers like Whatsapp.

Fixed Spreads

Finansero charges fixed spreads on the instruments listed, aside from synthetic derivatives, which makes it easy for traders to calculate and be aware of their trading costs upfront.

Instrument Selection

Although not the widest list on the market, Finansero’s selection of 300+ tradable instruments provides enough options for anyone to profit from the seven listed asset classes.

Finansero Supported Countries

Finansero’s license allows it to operate in multiple countries. As such, it would be more practical to list the countries that are not supported. Finansero is essentially available in all countries aside USA, Canada, UK, Belgium, Russia, Belarus, the Democratic People’s Republic of Korea, and Iran.

Final Thoughts on Finansero

Finansero is a broker and trading services provider licensed in Cyprus that provides access to 300+ tradable instruments across seven asset classes. You can trade equities, currency pairs, CFDs on cryptocurrencies, commodities, indices, ETFs, and synthetic derivatives.

The broker offers two account types, retail and professional accounts. The former is a regular trading account with investor compensation and Ombudsman protection, while the latter comes with higher leverage, and segregated accounts, but is without investor compensation and Ombudsman protection.

The trading platform comes equipped with a live news feed, 300 charting tools, and a mobile application.

To begin trading, sign up for an account, pass KYC, and deposit at least $200 through a credit card, e-wallet, or bank transfer.