Financo-innovation markets--Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

Financo-innovation markets presents itself as a multi-regulated global forex and shares broker authorized by FCA, ASIC & FSCA and founded in 2013. It claims to provide its clients with the industry-standard MetaTrader4 and MetaTrader5 trading platforms, leverage up to 1:500, low spreads from 0.2 pips on a variety of tradable assets, as well as a choice of three different account types and 24/7 customer support service.

Market Instruments

Financo-innovation markets advertises that it is a multi-asset platform with more than 40,000 trading instruments in financial markets, including forex, stocks, cryptocurrencies and real estate.

Account Types

There are three live trading accounts offered by Financo-innovation, namely Basic, Classic and Platinum. Opening a Basic account requires the minimum initial deposit amount of $3,000, while the other two account types with the much higher minimum initial capital requirements of £5,000 and $10,000 respectively. The broker also offers a Forex Signal Subscription package, which requires £250 monthly and traders on this type of package can receive tighter spreads and commissions.

Leverage

The maximum leverage ratio provided by Financo-innovation is much higher than most brokers, up to 1:500. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

According to the information displayed on Financo-innovations official website, the spread for forex is as low as 0.2 pips and the commission for stocks starts from £3. More details can be seen in the below screenshot.

Trading Platform Available

When it comes to trading platforms available, Financo-innovation says to give traders the world‘s most trusted and popular MeatTrader4 and MetaTrader5 trading platforms, available on the desktop and mobile terminals, yet we found the broker didn’t exist in the MT4/5 White List. Anyway, we suggest you use MT4 and MT5 which are known as the most successful, efficient, and competent forex trading software. The MT4 offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. While the MT5 features real-time quotes, financial news, forex & stock charts, technical analysis and online trading. With the MT4 or MT5 mobile app, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

Financo-innovation claims to only accept credit/debit card and bank wire transfers, as well as the cryptocurrency of Bitcoin as its available payment methods. However, from the logos shown at the foot of the home page on its official website, we found that this broker seems to work with Visa, MasterCard, Skrill, PayPal and Neteller, yet we cannot be sure if these payment options are all available. The minimum deposit in BTC (Bitcoin)is said to be £50, while the minimum initial deposit requirement to open an account is $1,000. There are no fees for deposits via either credit/debit cards or wire transfers. When deposits or withdraws with Bitcoin, the broker will not charge a fee, however, there is a standard networking fee of 0.0005 BTC when allocating funds through the Blockchain network. If you send funds from Bitcoin, the funds will credit when they reach 6 confirmations and will take up to 6 hours.

Customer Support

Financo-innovation markets‘ customer support can be reached by telephone: +18134363070, email: support@financo-innovationmarkets.online, live chat or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like ·YouTube, Facebook, Instagram and Twitter. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.