RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Finalto Trading is a UK based broker licensed by the Financial Conduct Authority. And from now on things get more or less complicated. Even though this firm is truly legal and authorized, its website lacks tons of information regarding the trading conditions, payment methods or trading software. What’s more, you can’t actually open an account here. Apparently, the whole idea is that other firms can cooperate with Finalto. You can send a request in order to “partner with Finalto ” and leave your company details. It doesn’t come clear though if a random trader can invest here or not. For more details on this broker, please keep reading the full review.
Finalto Trading Regulation and safety of funds
Finalto claims it can “help professional traders reach their goals”. Apart from that, this broker doesn’t say much about its services at all. Our first impression when we visited this website was that there’s very little information as a whole. This page is quite plain and simple with just some basic data displayed. Still, this broker at least posts some details about its regulation and registration.
Finalto Trading LTD is registered and headquartered in London, the UK. You can also spot some additional contact details like phone number, email and the operational times you can reach out to this firm.
Finalto Trading also claims to be authorized and regulated by the Financial Conduct Authority (FCA) of the UK and displays a license number and company number. We searched the registers of FCA and this company is really regulated. Take a look:
You can spot the same name and reference number. But most importantly FCA also displays some additional information about this company – there’s the same address, domain name and contact details. So in short – there’s no doubt that we are talking about one and the same firm.
Trading with UK regulated brokers brings a lot of benefits. First of all, these firms are definitely financially stable – they must have at least 730 000 EUR in order to be granted a license. What’s more, UK authorized brokers must participate in compensation schemes, which aim to protect your funds in case of broker’s insolvency. To be precise your deposits are insured for up to 85 000 GBP. Last but not least, genuine brokers in the UK are also obligated to keep your funds in segregated trusted accounts. This way you can be sure that they won’t be used for other purposes other than trading.
Finalto Trading Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Finalto Trading platform||Not specified||Not specified||Not specified||Not specified|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Finalto claims it can provide a “full suite of downloadable online trading platforms” – Web-Based and Mobile. Nothing else is mentioned though. We don’t have a clue which exact platforms it may be offering – MetaTrader, cTrader or just some random web-based software. The absence of such essential information is a bit worrisome to be honest. Apparently, this broker hasn’t put much effort in developing its own website or maybe there’s something fishy it hides – who knows?
The mystery gets even bigger, as we couldn’t register here at all. The only option we had was to fill in our personal data as well as some company details and send a request in order to “partner with Finalto”.
All in all, if you are a retail trader who wants to invest in stocks, commodities, shares or any other asset, we suggest looking for another reputable broker, who is fully transparent.
Finalto Trading Trading instruments
|Finalto Trading||✅||No information||No information||✅||No information|
Finalto Trading also doesn’t make it clear what trading instruments it offers. It mentions forex, CFDs and cryptocurrencies, but we don’t know if this is the full list of assets this broker provides.
Most legitimate firms usually display detailed information about the trading instruments you can invest in – you can find a variety of assets like shares, stocks, commodities and more.
Finalto Trading Spreads and cost of trading
Once again, this broker doesn’t specify the amount of spread it offers. It promises “competitive spreads” for forex pairs but nothing else is mentioned. This is yet another disturbing fact that doesn’t speak well about this firm. Just as you know, always look for spreads below 2 pips, as they come with lower trading costs. Plus, look out for hidden fees and commissions, as they can significantly increase the price paid.
Finalto Trading Maximum leverage
|Finalto Trading broker||No information||No information||No information||No information||No information|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The leverage is also not clearly specified. However, given the fact that Finalto Trading is regulated in the UK, it certainly can’t offer any leverage higher than 1:30. The reason is that the leverage in this country is limited because of the associated risks of trading with higher volumes. Still, if you want to trade with higher leverage, we suggest looking at some of the offshore subsidiaries of legitimate forex brokers.
Finalto Trading Deposit and withdrawal methods
Finalto Trading also doesn’t mention anything about its payment methods. We don’t have the slightest idea what deposit/withdrawal methods are there, nor if there are any additional fees. Usually reputable brokers don’t ask for any withdrawal fee, but there are always exceptions, so be on guard.
Apart from that, most genuine brokers accept a variety of payment methods like Visa, Mastercard, wire transfers, as well as popular e-wallets like Skrill, Neteller and PayPal. Sometimes you can also spot some crypto coins like Bitcoin, Ethereum or Tether. However note that these transactions are completely irreversible and anonymous, so be careful. If you have the slightest doubt in your broker’s reliability, better don’t use them at all.
Finalto Trading Minimum deposit
The minimum deposit is also not specified. Just bear in mind that the standard amount for the sector is around 250 USD. In addition, sometimes you can open a micro account with as little as 10 USD.
Finalto Trading Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Finalto Trading||No information||No information||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
As for the withdrawal taxes and fees, there’s no data as well. As we mentioned above, reputable brokers would hardly ask for any fee in order to get access to your own money. Still, be on guard!
As a whole, even though Finalto is truly licensed in the UK, this broker still doesn’t seem like the best choice for trading. We suggest looking at some other reputable firms instead.