Finaz.io-Overview of Minimum Deposit, Spreads & Leverage
Abstract：Founded in 2013, Finaz.io Ltd is a broker registered in Marshall Islands which is an offshore zone for forex trade. It is obvious that joining this broker will put your precious money at risk.
General Information
Founded in 2013, Finaz.io Ltd is a broker registered in Marshall Islands which is an offshore zone for forex trade. It is obvious that joining this broker will put your precious money at risk.
Market Instruments
Finaz.io provides numerous major instruments of financial markets including CFDs, stocks, commodities and indices.
Accounts
Finaz.io offers 4 trading accounts – Classic, Gold, Platinum and VIP. The minimum initial deposit for the Classic account is $250. The other accounts start at $3,000, $15,000 and $50,000 respectively.
Leverage
From the information available on the web trader, it appears that the leverage offered by Finaz.io is 1:100 which is also high. Leverage amplifies potential profits, but it also immensely boosts risks.
Spreads
We find out that the spread for the EUR/USD currency pair is 3 pips which is really wide. The implications for traders when the spread is wide and is above the industry average of 1.5 pips are that the cost of transactions will be too high.
Trading Platforms
Finaz.io provides access to a web-based trading platform as well as the Mobile Trader. When compared to industry standard Metatrader 5 it lacks in many features - notably automated trading.
Deposit & Withdrawal
Finaz.ios clients can make deposits to and withdrawals from their accounts via bank cards (Visa, MasterCard), bank transfer and Skrill. And there are no deposit or withdrawal fees for payments. However, it takes 2 to 7 business days to process a deposit.
Contact Information
Users can contact Finaz.io via support@finaz.io, as well as the hotline: +4(420) 808-99233. Address: Trust Company Complex, Ajeltake Road, Ajeltake lsland, Majuro, Marshall lslands MH96960.
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