Finexey-Overview of Minimum Deposit, Spreads & Leverage

General Information

Finexey is allegedly a broker based in Saint Vincent and the Grenadines that provides its clients with a web-based trading platform, leverage up to 1:400, floating spreads on various tradable assets, as well as a choice of three different account types.

Market Instruments

Finexey advertises that it offers a variety of financial instruments, which include forex, indices, cryptocurrencies, commodities and shares.

Account Types

There are three live trading accounts offered by Finexey, namely Basic, Silver and Gold. Opening a Basic account requires the minimum initial deposit amount of $250, while the other two account types with the much higher minimum initial capital requirements of $1,500 and $5,000 respectively.

Leverage

Traders holding different account types can experience quite different maximum leverage ratios. Clients on the Basic account can experience the leverage of 1:100, the Silver account with the leverage of up to 1:200, while the Gold account can enjoy the maximum leverage as high as 1:400. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads are influenced by what type of accounts traders are holding. Finexey reveals that the spread in the Basic account starts from 1.5 pips, the clients on the Silver account enjoy spreads from 1.2 pips, while the Gold account with floating spreads from 0.8 pips. All charging no commissions.

Trading Platform Available

When it comes to trading platforms available, instead of the worlds most widely-used MetaTrader4 and MetaTrader5 platforms, Finexey only gives traders a web-based platform. MT4 and MT5 are both packed with advanced tools such as Expert Advisors, many complex indicators, sophisticated charting tools and a marketplace featuring more than 10,000 apps. While this web-based trading platform is not equipped with these great features.

Deposit & Withdrawal

Finexey accepts deposits only via cryptocurrencies and wire transfers. According to the clauses displayed on its official website, the broker will charge withdrawal processing and handling fees and these fees will be deducted from the transferred withdrawn amount. As for the processing time of withdrawal requests, they usually can be processed in 3 days.

Fees

Finexey also takes an inactivity fee. If you did not log in and traded from your account within 3 months, your account will be charged an inactivity fee of 10% monthly.

Customer Support

Finexeys customer support can be reached by telephone: 447755597299, email: Support@Finexey.Com. Company address: Suite 305, Griffith Corporate Centre, P,O, Box 1510, Beachmont, Kingstown, Saint Vincent and the Grendines.