FinCloud Forex Broker

Note: FinCloud is to operate via the website - https://fincloud.center/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No Regulation Market Instrument forex currency pairs Account Type Starter, Standard, Silver, Gold, Platinum and Diamond Demo Account N/A Maximum Leverage 1:200 Spread Starter: from 3 pips | Standard: from 2 pips | Silver: from 1.5 pips | Gold: from 1.0 pips | Platinum: from 0.5 pips | Diamond: from 0.3 pips Commission yes Trading Platform WebTrader Minimum Deposit $250 Deposit & Withdrawal Method Visa/MasterCard, Bitcoin, cryptocurrencies FinCloud is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with leverage up to 1:200 and floating spreads from 0.3 pips on the WebTrader. As for regulation, it has been verified that FinCloud currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.20/10. Please be aware of the risk. Market Instruments FinCloud advertises that it is a forex broker that mainly offers forex currency pairs trading. However, more specific information about tradable assets cannot be found on the Internet. Account Types FinCloud claims to offer 6 types of trading accounts, namely Starter, Standard, Silver, Gold, Platinum and Diamond. The minimum deposit requirement to open an account is $250. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The maximum leverage provided by FinCloud is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads & Commissions All spreads with FinCloud are a floating type and scaled with the accounts offered. For example, the spread starts from 3 pips on the Starter account, from 2 pips on the Standard account, from 1.5 pips on the Silver account, from 1.0 pips on the Gold account, from 0.5 pips on the Platinum account and 0.3 pips on the Diamond account. The broker also mention a commission, however, they did not say how big that would be. Trading Platform Available Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, FinCloud gives traders a WebTrader. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated Deposit & Withdrawal FinCloud says to work with Visa/MasterCard and Bitcoin, as well as some other unmentioned cryptocurrencies. The minimum initial deposit requirement is said to be $250. The broker also demands that it keep 20% of every withdrawal. Bonuses & Fees FinCloud claims to offer some bonuses. However, unless you reach a turnover of 25 times the bonus and deposit, you would not be able to withdraw anything from your account – including your profits and deposits. The broker also imposes an unspecified inactivity fee. Customer Support FinClouds customer support can be reached by telephone: +39 0507620110, +34 984884169, +43 720022334, +48 221857500, +7 4952250328, email: support@fincloud.capital. Company address: First ST Vincent Bank LTD Building, James Street, Kingstown VC0100, St. Vincent and the Grenadines. Pros & Cons Pros Cons • Multiple account types to choose from • No regulation • Website inaccessible • Uncompetitive spreads on the Starter, Standard and Silver accounts • Unspecified commission charged • High minimum deposit required ($250) Frequently Asked Questions (FAQs) Q 1: Is FinCloud regulated？ A 1: No. It has been verified that FinCloud currently has no valid regulation. Q 2: Does FinCloud offer the industry-standard MT4 & MT5？ A 2: No. Instead, FinCloud offers a WebTrader. Q 3: What is the minimum deposit for FinCloud？ A 3: The minimum initial deposit with FinCloud is $250. Q 4: Does FinCloud charge a fee？ A 4: Like every forex broker, FinCloud charges a fee when you trade - either in the form of a commission fee or spread fee, as well as a withdrawal fee and an inactivity fee. Q 5: Is FinCloud a good broker for beginners？ A 5: No. FinCloud is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit requirement.