Fintech Online-Some Important Details about This Broker

Note: Fintech Online' official website: https://fintechonlinefx.com/ is currently inaccessible normally.

Registered in the United Arab Emirates, Fintech Online is a forex broker providing access to multiple products. It provides three trading accounts, with the lowest required opening deposit being $100, and traders can employ a maximum leverage of 1:100 on their positions. The provided trading platform is MT5. Nevertheless, it is under unregulated status and their website is not available.

Pros and Cons

Is Fintech Online Legit?

Fintech Online is an unregulated broker. Besides, as of now, their website is not available for traders to look through the trading conditions. Therefore, it is not a legit broker and will cause more risk to trade.

What Can I Trade on Fintech Online?

Fintech Online offers 300+ Indices, Real stocks, CFDs on stocks, Forex, ETFs, Oil, and Metals.

Account Type

There are three types of trading accounts available: Standard, Professional and Prime accounts.

The Standard accounts is intended for experienced traders, requiring a minimum deposit of 100 USD/EUR. The Professional accounts are intended for professional traders who prefer “advanced” trading conditions. The Prime accounts are for experienced traders, who want access all major financial markets from a single account.

Leverage

The maximum trading leverage offered by this broker is up to 1:100, and specific leverage is determined during the registration on the basis of your experience and knowledge.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size (no more than a 1:10).

Spread

Trading Platform

Fintech Online claims that it provides the world-leading MT5 trading platform. However, Fintech Onlines MT5 trading platform requires a digital signature and sensitive information such as an ID Card to be uploaded.

Deposit and Withdrawal

Fintech Online supports various payment methods including bank transfers, popular e-wallets, and credit/debit cards.

However, card withdrawals reportedly incur a 2.4% fee, while some e-wallet transactions have commissions ranging from 0.5% to 2%. It should be noted that all deposit and withdrawal fees for bank transactions are subject to change on their trading platform.