FinPro Trading Review – Unbiased Pros & Cons Revealed

WHO IS FINPRO TRADING?      

According to research in South Africa FinPro Trading is an English trading company founded in 2008 with headquarters in St Vincent and the Grenadines.

FinPro Trading is a self-regulated Forex broker with several years of operational history. It offers the option of many trading platforms which makes it easy to use for beginners and advanced traders.

It offers a range of over 80 currency pairs, precious metals, base metals, energies, agricultural, stocks, stock indices and ETFs with a most competitive spread.

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SAFE OR SCAM

FinPro Trading may be considered unsafe to trade with as the company is not regulated or supervised by any major regulatory body. It is recommended that traders trade with a regulated broker.

However, any payments funded to FinPro Trading accounts by traders are held in a segregated bank account. FinPro Trading use tier-1 banks for this which is the official measure of a bank’s financial health and strength.

PRO AND CONS

LEVERAGE

Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss.

Leverage is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1 000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

Margin is the collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.

For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.

At FinPro Trading the leverage ratio is 1:500.

ACCOUNTS   

FinPro Trading offers the following types of accounts:

• Micro Account
  For the beginner trader
  Minimum deposit – $5
  Different trading platforms
  Spreads start at 0.2 pips
  Leverage of up to 1:200
  Commission is charged at $4 per $100K
  Maximum account balance is $1000

• ECN Account
  Super-tight spread
  Trading from 0.1 lots
  Different trading platforms
  Minimum deposit $200
  100% deposit bonus
  Flexible leverage up to 1:200
  Trading from 0.01 lots

• Standard STP Account
  For the professional trader
  Zero commissions
  Spreads start at just 0.7 pips
  Leverage up to 1:200
  Minimum trade size is 0.01 lots
  Maximum is 100 lots
  Minimum deposit is $100
  Up to a 100% deposit bonus

• VIP accounts
  Minimum transaction size of 0.1 lots
  Starting balance of $10 000
  Personal dealer
  No limit to the total trade size

• FinPro Connect Account
• PAMM Account
• Islamic Accounts (Swap Free)
• Institutional Accounts
• Managed Accounts

FinPro Trading also offers a demo accounts, that offer real time prices and trading conditions for a period of 30 days. It starts off with a balance of $100 000 virtual money.

MARKET INSTRUMENTS

The most popular market instruments available from most brokers for trading include:

Forex

Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

FinPro Trading offers the following market instruments:

• Forex
• Precious Metals
• Equity Indices
• Energies
• ETFs
• CFDs
• Commodities
• Stocks
• Oil
• Gold and silver
• Binary options

FEES

Cost and fees depend on different factors, like spread and margins, and FinPro Trading clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.

FinPro Trading allow you to execute a minimum of trade of varies which depend on the account you open.

With ECN and STP execution, you can expect tight spreads with more transparency over the price you are paying. No commission is charged on CFD instruments.

Withdrawal fees varies on payment method and there is no charge on deposit fees. FinPro Trading also does not charge inactivity fees.

DEPOSIT AND WITHDRAWAL

Accounts usually requires a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.

In the case of FinPro Trading, the following methods can be used to deposit or withdraw funds:

• Credit/debit cards
• Skrill
• PayPal
• Wire Transfer
• Neteller

All funding is done automatically without any commissions or fees and the following currencies may be used: USD, AUS, EUR, GBP. Deposits and withdrawals are processed within 2 to 3 days.

TRADING PLATFORMS

The forex trading platform provided by FinPro Trading to its clients is the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

FinPro Trading provides four trading platforms. They are:

• FinPro Trade Station
• FinPro Trade Station Web
• FinPro MT4
• FinPro ZuluTrade.

The Trade Station platforms can be accessed anywhere and anytime. FinPro MT4 is the most popular and widely used platform due to its user-friendly interface, wide range of charting tools and ability to automate trading.

With FinPro ZuluTrade you no longer need to spend hours exploring over financial news and live charts or worry about when to close your positions.

The automated system will copy what you do. Traders will be given access to all the tools you need to automatically copy the trades of experienced traders

HOW TO OPEN AN ACCOUNT

Similarly to a bank, to register a forex trading account with FinPro Trading for the first time, you will be required to go through a basic “know your customer” process, which will allow FinPro Trading to ascertain that your submitted details and ensure the safety of your funds and account details.

Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit, the next step is to download the trading platform of your choice.

Beginner traders can also open a demo account and practice and learn to trade through it.

CUSTOMER SUPPORT

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

In the case of FinPro Trading customers can reach the support team in real time by phone or email in the London office. There is also a chat option.

The company’s customer service is supported by a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Hindi, Hebrew, Arabic and Russian.

EDUCATION       

Before starting to trade, potential clients of FinPro Trading should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

FinPro Trading takes the education of customers seriously and there are various features available to keep them informed. A list of trade ideas is posted on the website as are daily news reports informative articles.

In the technical analysis academy, there are a dozen different lessons on various graphs, charts and patterns which cover such unique items such as Doji Star, Auto Trend Lines and Shooting Stars.

It also has information on Forex education and video tutorials.

RESEARCH         

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

With FinPro Trading customers have access to trade ideas that are posted as well as daily news reports. There is a trader’s board where useful and informative ideas can be shared.

AWARDS

Being an awarded company instils extra confidence by traders.  Unfortunately, there is no indication on the website whether FinPro Trading has received any awards since inception.

CONCLUSION  

Being self-regulated might be the biggest draw back for FinPro Trading as there is always some risk involved when trading with an unregulated broker.

FinPro Trading offer a unique trading experience to the trading community and developed multiple trading platforms to meet its clients’ needs. Its wide choice of different trading accounts is also an indication of how they cater to traders with all levels of trading experience.

DISCLAIMER

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you are prepared to lose. Past performance does not guarantee future results.

Your capital is at risk. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

The FinPro Trading website is for educational purposes and should not be considered as investment advice, according to research in South Africa.

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Frequently Asked Questions

How many instruments can I trade with FinPro Trading?

You can trade several different instruments with FinPro Trading, which include the following:

• Forex
• Precious Metals
• Equity Indices
• Energies
• ETFs
• CFDs
• Commodities
• Stocks
• Oil
• Gold and silver
• Binary options

Which platforms are supported by FinPro Trading?

FinPro Trading provides the following popular trading platforms:

• FinPro Trade Station
• FinPro Trade Station Web
• FinPro MT4
• FinPro ZuluTrade

Does FinPro Trading offer leverage?

Yes, FinPro Trading offers a maximum leverage of 1:200

Is FinPro Trading regulated?

We cannot confirm that FinPro Trading is regulated and licensed by any regulatory oversight authority.

Is FinPro Trading a recommended forex trading broker for experts and beginners?

FinPro Trading offers a trading environment for beginner and experienced traders, due to the variety of trading platforms as well as account types.