FinPros
Pros and Cons
Pros
- Regulated by Financial Services Authority (FSA) of Seychelles
- Diverse trading instruments including 80+ forex pairs, commodities, and cryptocurrencies
- Advanced trading platforms: MetaTrader 4 and MetaTrader 5
- Competitive trading conditions with low spreads and quick withdrawals
- Multilingual customer support available 24/5
Cons
- Limited regulatory oversight compared to tier 1 regulators
- High minimum deposit requirements for certain account types
- Only one trading platform available (MetaTrader 5)
- Lack of demo account option for practice trading
- Withdrawal limitations and potential delays in processing
Basic Information
User Reviews
FinPros Overview
FinPros is a forex broker established in Cyprus and has been operating for approximately 2-5 years. The company is officially known as Finquotes Financial (Cyprus) Ltd and is committed to providing a secure trading environment for its clients. Operating under the regulatory framework of Cyprus, FinPros ensures compliance with relevant financial standards, which adds a layer of trust and reliability for traders looking to engage in the forex market. For more details, you can visit their profile on financial platforms like WikiFX at https://www.wikifx.com/en/dealer/1171880810.html.
The core offerings of FinPros include a diverse range of trading instruments such as forex pairs, commodities, indices, and cryptocurrencies. With advanced trading platforms like MetaTrader 4 and 5, traders can access a variety of analytical tools and charting options to enhance their trading experience. Customer support is available to assist clients effectively, providing services in multiple languages through various channels. FinPros aims to set itself apart by offering competitive trading conditions, including low spreads and quick withdrawal processes, which are essential for traders seeking efficiency and reliability in their trading activities.
Is FinPros Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Services Authority (FSA) | Seychelles | Segregated Funds, Negative Balance Protection |
Is FinPros Regulated and How Are Client Funds Protected?
FinPros is regulated by the Financial Services Authority (FSA) of Seychelles as a securities dealer. This regulatory status provides a framework for investor protection, although it is important to note that as an offshore entity, the level of protection may not be as comprehensive as that offered by stricter regulatory bodies like the FCA or CySEC. Client funds at FinPros are protected through segregation from the company’s operational funds, ensuring that they are kept in separate accounts. Additionally, FinPros implements negative balance protection across all account types, safeguarding traders against losing more than their deposited capital. Overall, while trading with FinPros presents certain risks associated with offshore regulation, the broker strives to maintain a secure trading environment for its clients.
Trading Products and Services
What trading instruments does FinPros offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs, Minor Pairs | 80+ |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | 300+ |
| Cryptocurrencies | BTC, ETH | 12 |
FinPros offers a diverse range of trading instruments that cater to various trader preferences and strategies. With over 80 forex pairs available, traders can explore numerous opportunities in the forex markets. The inclusion of commodities like gold and oil allows for effective hedging and diversification of portfolios. Additionally, access to stock indices and a wide selection of stocks from major exchanges enables traders to manage their risk more effectively while capitalizing on market movements. The availability of cryptocurrencies adds further flexibility for traders looking to engage in emerging markets. Overall, FinPros’ robust offering of asset categories supports both beginner and experienced traders in developing effective trading strategies.
Account Types and Trading Conditions
What Account Types and Fees Does FinPros Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Cent Account | Beginners | Low initial deposit, high leverage | Suitable for small-capital practice |
| Classiq Account | Beginners | Moderate initial deposit, competitive spreads | Designed for general trading |
| Pro Account | Scalpers, day traders | Low spreads, moderate leverage | Best for frequent trading |
| Raw+ Account | Scalpers, day traders | Ultra-low spreads, higher initial deposit | Requires significant trading volume |
Account Opening Process
To open an account with FinPros, follow these steps: First, you will need to submit your personal information along with your employment and financial details. This includes providing identity verification documents, such as a government-issued ID and proof of address. After submitting these documents, your account will be reviewed for approval. Once approved, you can fund your account and start trading. Additionally, you have the flexibility to upgrade to a professional account later if your trading needs change.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | From 0.1 | Varies | Competitive spreads for active trading |
| Forex (Minor Pairs) | From 1.2 | Varies | Standard spreads |
| CFDs (Stocks, Indices, Commodities) | Varies | Varies | Refer to specific instruments for details |
| Cryptocurrencies | Varies | Varies | Pricing depends on market conditions |
Other Fees
FinPros may charge various fees including deposit and withdrawal fees, inactivity fees, and overnight financing (swap rates). While there are no currency conversion fees, it’s essential to review any associated costs for deposits and withdrawals, as well as any applicable overnight interest rates for positions held overnight.
Trading Platforms and Apps
What Trading Platforms and Apps Does FinPros Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, Android, iOS | Secure login, multiple order types, technical indicators, price alerts | Demo account available |
| MetaTrader 5 (MT5) | Windows, macOS, Android, iOS | Advanced trading tools, market analysis, one-click trading, economic calendar | VPS available |
| Web Version | Any device with a web browser | Secure access, market search, price alerts | No additional services |
| Mobile App | Android, iOS | Convenient login, real-time alerts, quick order execution | Demo account available |
FinPros provides multiple trading platforms to cater to various trader needs. MetaTrader 4 is ideal for those who appreciate a robust and secure environment with essential trading features. MetaTrader 5 enhances this experience by offering advanced analytical tools suitable for more sophisticated trading strategies. The web version ensures accessibility from any device, while the mobile app offers convenience for traders on the go, supporting secure logins and real-time alerts. Overall, FinPros emphasizes a secure trading experience across all platforms, enabling efficient market access and timely execution.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 10,000 | EUR, USD |
| Credit/Debit Cards | Instant | No platform fee | Min 50, Max 5,000 | EUR, USD |
| E-wallets (e.g., Skrill, Neteller) | Instant | 1.5% e-wallet charge | Min 50, Max 10,000 | EUR, USD |
| Cryptocurrency | Instant | No platform fee | Min 50, Max 10,000 | BTC, ETH |
Minimum Deposit
FinPros requires a minimum deposit of 50 units of the account’s base currency. This requirement is consistent across all payment methods and account types, making it accessible for traders at different levels.
How to Withdraw
To withdraw funds from your FinPros account, follow these steps:
- Log in to your FinPros account.
- Navigate to the ‘Withdrawal’ section.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw within the limits set by FinPros.
- Submit your withdrawal request and confirm any necessary details.
- Wait for processing, which may take up to 5 days depending on the method chosen.
Customer Support
FinPros Customer Support Overview
Support Channels
FinPros offers several contact methods for customer support to ensure that clients receive help when needed. These channels include:
- Email: Clients can reach out to FinPros via email at support@pros.finpros.com to address inquiries or concerns regarding their accounts or services.
- Live Chat: The live chat feature provides real-time assistance, allowing clients to engage directly with customer support representatives for immediate responses.
- Telephone: Clients can contact FinPros by phone for direct support, ensuring prompt communication to resolve issues.
- Social Media: FinPros may also utilize social media platforms to engage with clients and provide updates on services or support options.
Service Availability
FinPros provides customer support during specified hours, ensuring availability for clients. The support team is accessible 24/5, catering to clients during the weekdays. Multilingual support is available, enabling communication in various languages to assist a diverse clientele.
Additional Resources
To enhance the trading experience, FinPros offers various educational resources, including webinars and market analysis. These resources serve to empower traders with knowledge and insights, aiding them in making informed trading decisions.
Frequently Asked Questions
FinPros is regulated by the Financial Services Authority (FSA) of Seychelles, which provides a framework for investor protection. Client funds are protected through segregation from the company’s operational funds, ensuring they are held in separate accounts. Additionally, FinPros implements negative balance protection across all account types, preventing traders from losing more than their deposited capital.
FinPros offers a diverse range of trading instruments, including over 80 forex pairs, commodities like gold and oil, various stock indices, and a selection of cryptocurrencies. This variety caters to different trading strategies and preferences, allowing traders to effectively manage their portfolios.
FinPros offers several account types to cater to different trader needs, including a Cent Account for beginners with low initial deposits, a Classiq Account for general trading with competitive spreads, a Pro Account designed for scalpers and day traders with low spreads, and a Raw+ Account for those requiring ultra-low spreads with higher initial deposits. Each account type has distinct features to support various trading strategies.
FinPros provides multiple channels for customer support, including email, live chat, and telephone. Clients can reach out via email at support@pros.finpros.com, use the live chat feature for immediate assistance, or call for direct support. Customer support is available 24/5 and offers multilingual assistance to accommodate a diverse clientele.
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.