FNory
Pros and Cons
Pros
- Zero commission fees per lot traded
- High leverage up to 1:500
- User-friendly F-Trader platform
- Wide range of market instruments: Forex, commodities, shares, indices, and EFTs
- Minimum deposit requirement of $100
Cons
- No valid regulatory oversight
- Limited account types available
- Withdrawal issues reported by users
- Lack of educational resources and tutorials
- Trading platform lacks advanced features
Basic Information
User Reviews
FNory Overview
Founded in 2021, FNory is a forex broker based in Saint Vincent and the Grenadines. The firm operates without regulation, which may raise concerns for potential traders. FNory aims to provide a robust trading environment, although its lack of a regulatory framework could present risks for users. As an unregulated entity, it is crucial for traders to exercise caution and perform thorough research before engaging with the broker’s services.
Is FNory Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No valid regulatory authority | Saint Vincent and the Grenadines | No investor protection measures |
Is FNory Regulated and How Are Client Funds Protected?
FNory is not regulated by any recognized financial authority. As a result, trading with FNory carries significant risks, including a lack of investor protection and a higher potential for fraud. Clients should be aware that without regulatory oversight, there are no guarantees regarding the safety of their funds or the integrity of the trading practices. The absence of legitimate regulation raises concerns about the broker’s reliability and trustworthiness, making it imperative for potential clients to exercise caution when considering this broker.
Trading Products and Services
What Trading Instruments Does FNory Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | 50+ |
| Commodities | Gold, Silver, Crude Oil | Many |
| Indices | S&P 500, NASDAQ, FTSE 100 | Varies |
| Stocks | Apple, Tesla, BP | Many |
| Cryptocurrencies | BTC, ETH, XRP | Varies |
FNory provides a diverse range of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders, whether they are beginners or seasoned professionals, to tailor their trading strategies and portfolios effectively. With over 50 Forex pairs available, along with numerous commodities and stocks, FNory supports various trading styles, from short-term speculation to long-term investment. The inclusion of multiple asset categories not only enhances portfolio diversification but also offers flexibility in adapting to market changes, making FNory a suitable platform for different trading needs.
Account Types and Trading Conditions
What Account Types and Fees Does FNory Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | General traders, including beginners and intermediates | Zero commission, high leverage up to 1:500, starting spreads from 0.0 pips | Minimum deposit of $100; suitable for various trading styles |
Account Opening Process
To open an account with FNory, follow these steps: 1. Complete the online application form by providing personal information such as name, address, and contact details. 2. Submit employment and financial information to assess your trading experience and financial status. 3. Provide identity verification documents, including a government-issued ID and proof of address (such as a utility bill). FNory offers flexibility in account management, allowing users to upgrade to a professional account as their trading needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (Commission-free) | Tight spreads for major currencies |
| Forex (GBP/USD) | 1.0 | $0 (Commission-free) | Competitive for minor pairs |
| CFDs (Stocks) | 1.5 | $0 (Commission-free) | Access to a wide range of stocks |
| CFDs (Indices) | 1.2 | $0 (Commission-free) | Includes major indices like S&P 500 |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable based on market conditions |
Other Fees
Additional costs associated with an FNory account include: – Deposit and withdrawal fees: FNory charges no fees for deposits or withdrawals. – Inactivity fees: Accounts that remain inactive for an extended period may incur a fee. – Platform usage fees: No fees are reported for using the trading platform. – Overnight interest: Swap rates apply depending on the positions held overnight. – Currency conversion fees may apply when trading in currencies different from the account’s base currency.
Trading Platforms and Apps
What Trading Platforms and Apps Does FNory Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA, order types, price alerts, technical indicators | Demo account, VPS |
| MT5 | Windows, macOS, iOS, Android | Encryption, multiple order types, push notifications, economic calendar | API interface |
| Web Version | Any device with web browser | Biometrics, symbol lookup, one-click trading | Demo account |
| Mobile App | iOS, Android | Secure login, fast order execution, real-time alerts | Not specified |
FNory offers several trading platforms tailored to various trader needs. The MT4 platform is well-suited for beginners, providing essential tools and features like order types and technical indicators. MT5 caters to advanced traders with additional functionalities, including an economic calendar and API access. The web version ensures accessibility across devices, while the mobile app enhances trading convenience with features like secure login and real-time alerts. Overall, FNory’s platforms support mobile trading, ensure secure logins, offer efficient search tools, and enable fast order execution.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee, 0.5% for withdrawals | Min €100, Max €50,000 per transaction | EUR, USD |
| GrabPay | Instant | No fees | Min $20, Max $5,000 daily | USD, SGD |
| SPEI | Instant | No platform fee, 1% third-party charge | Min $200, Max $30,000 per transaction | MXN, USD |
| Crypto Wallets | Instant | No fees | Min $10, Max $15,000 per transaction | BTC, ETH |
| Bank Wire | 3-5 business days | No platform fee, but $20 for international wires | Min $500, Max $100,000 per transaction | USD |
Minimum Deposit
FNory requires a minimum deposit of $100 to open an account. This amount remains consistent across most payment methods, although certain regional methods may have specific variations. For instance, deposits via GrabPay can start as low as $20.
How to Withdraw
- Log in to your FNory account.
- Navigate to the ‘Withdrawal’ section in your dashboard.
- Select your preferred payment method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the limits.
- Confirm the withdrawal details and submit your request.
- You will receive a confirmation email once your withdrawal is processed.
Customer Support
FNory Customer Support Overview
Support Channels
FNory provides multiple customer support channels to ensure that clients can easily access help whenever needed. The available contact methods include:
- Email: Clients can reach out to the support team via email at admin@fnory.com, where inquiries are typically addressed promptly.
- Live Chat: For immediate assistance, FNory offers a live chat option on their website for real-time support.
- Telephone: Clients can contact FNory’s support team by calling +44 20 8089 5153 for direct assistance.
- Social Media: FNory maintains a presence on various social media platforms, allowing customers to engage and receive updates about services.
Service Availability
FNory’s customer support operates 24/5, ensuring that clients can receive assistance during the business week. Additionally, FNory offers multilingual support, catering to clients in English and other languages, which helps facilitate effective communication for a diverse clientele.
Additional Resources
To enhance the trading experience, FNory provides various educational resources, including:
- Video tutorials to help clients understand trading tools and strategies.
- Webinars on market analysis and trading techniques.
- Regular market analysis to keep clients informed about market conditions.
- Trading signals that provide insights for better decision-making.
FNory is committed to providing excellent support to its customers, ensuring that they have the resources and assistance needed to navigate the trading environment effectively.
Frequently Asked Questions
FNory is currently not regulated by any financial authority, which presents potential risks for clients. We advise all traders to be cautious and conduct thorough research before engaging in trading activities.
FNory offers a single account type with a minimum deposit of $100, maximum leverage of up to 1:500, and spreads starting from 0.0 pips. It provides zero commission fees per lot traded, making it suitable for both retail and institutional traders.
While FNory does not provide specific details on fund security measures, clients should be aware that trading with an unregulated broker carries inherent risks. It is advisable to only deposit amounts that you are prepared to lose.
FNory utilizes the F-Trader platform, which is designed to be user-friendly and efficient. Clients have reported fast execution speeds for placing and closing orders, and the customer support team is responsive, typically addressing inquiries within an average response time of 2.3 hours.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.