Finotive foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://client.finotive.net/en-US/Account/Register, about the company's legal and temporary regulatory information, the company's address 40B Geriou Ave 3051, Nicosia, Cyprus.
Finotive Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskRating Index
Pros
Offers access to the popular MetaTrader 5 trading platform, which provides advanced charting and automated trading features.
Provides opportunities for proprietary trading through partnerships, allowing traders to access funded accounts.
Targets high-risk tolerance traders with potentially aggressive trading conditions that may appeal to experienced investors.
Cons
Operates as an unregulated broker, raising significant concerns about fund security and lack of client protections.
User feedback highlights poor customer service quality, including slow response times and limited support channels.
Limited transparency regarding account conditions, trading costs, and available asset classes, making it difficult for traders to make informed decisions.
Finotive Forex Broker - Complete Information Guide
1. Broker Overview
Finotive is a forex broker that was established in 2007. The company is headquartered in an undisclosed location, and it primarily operates as a private entity. Finotive caters to a diverse clientele, including retail traders and institutional clients, offering forex trading services. Over the years, the broker has undergone significant development, although specific milestones and achievements are not well-documented in public sources.
Finotive operates in the forex market, focusing on providing competitive trading conditions and a range of financial instruments. The company's business model primarily revolves around retail forex trading, catering to individual traders seeking access to global financial markets.
2. Regulatory and Compliance Information
Finotive operates under the regulatory oversight of various financial authorities, although it is important to note that the company is categorized as a closed broker, which indicates that it may no longer be actively regulated. The specific regulatory bodies that have historically overseen Finotive include the following:
- [Regulatory Authority Name]: [Regulatory Number]
- [Regulatory Authority Name]: [Regulatory Number]
The validity and scope of the regulatory licenses held by Finotive are not explicitly detailed in the available sources. The broker has been known to adhere to KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, ensuring that customer funds are managed in accordance with industry standards.
Client funds are typically segregated from the broker's operational funds, providing an additional layer of security. However, details regarding participation in investor compensation schemes are not available.
3. Trading Products and Services
Finotive offers a variety of trading products and services, primarily focusing on forex trading. The broker provides access to numerous currency pairs, allowing traders to engage in various trading strategies. While the exact number of forex pairs is not specified, it is known that Finotive includes major pairs, minor pairs, and exotic pairs in its offerings.
In addition to forex, Finotive also provides Contracts for Difference (CFDs) on a range of products, including:
- Indices: Major global indices for diversified trading.
- Commodities: Trading options on popular commodities.
- Stocks: Access to shares from various international markets.
- Cryptocurrencies: Limited offerings in the crypto space.
The frequency of product updates and the introduction of new trading instruments are not explicitly mentioned, but the broker aims to keep its offerings competitive to meet the evolving needs of its clients.
4. Trading Platforms and Technology
Finotive supports the widely used MetaTrader 4 (MT4) trading platform, which is renowned for its user-friendly interface and robust trading tools. The broker does not appear to have a proprietary trading platform, but it offers access to web-based trading solutions, allowing traders to execute trades from any device with internet access.
Mobile trading applications are available for both iOS and Android devices, ensuring that clients can manage their trades on the go. The execution model employed by Finotive is not explicitly stated, but it is common for brokers to utilize ECN (Electronic Communication Network) or STP (Straight Through Processing) models to facilitate order execution.
The broker's technical infrastructure, including server locations and API access for automated trading, is not detailed in the available sources, suggesting a focus on standard trading solutions.
5. Account Types and Trading Conditions
Finotive offers various account types to cater to different trading needs. The standard account conditions include:
- Minimum Deposit: $0
- Spread: Variable spreads, specifics are not provided.
- Commission: Not specified.
Advanced account types, such as VIP or professional accounts, may be available, but details are limited. Special accounts, including Islamic accounts, are not mentioned in the available data.
The broker provides a demo account option for traders to practice their strategies before committing real funds. Leverage ratios are not specified, but they typically vary based on the asset class being traded. The minimum trade size is also unspecified, reflecting the broker's commitment to accommodating various trading styles.
6. Fund Management
Finotive supports multiple deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirements vary by account type, with the standard account requiring a minimum deposit of $0.
Processing times for deposits are generally immediate, but specific details on deposit fees are not provided. Withdrawal methods and restrictions are not clearly outlined, although typical practices suggest that clients can withdraw funds through the same methods used for deposits.
Withdrawal processing times are generally prompt, but exact durations are not specified. Withdrawal fees are also not documented in the available sources.
7. Customer Support and Educational Resources
Finotive offers customer support through various channels, including:
- Phone
- Online Chat
- Social Media
The service hours and time zone coverage are not explicitly mentioned, but the broker provides support in English. Educational resources include webinars, tutorials, and eBooks aimed at enhancing trader knowledge.
Market analysis services, such as daily analysis, news updates, and research reports, are not detailed in the available data. Trading tools, including calculators and calendars, may be available to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
Finotive primarily serves clients in various markets, although specific service regions are not explicitly detailed. The broker may have regional offices, but information on their locations is not provided.
Certain countries may be restricted from accessing Finotive's services, but the specific list of countries is not available. Additionally, any special restrictions related to local regulations or compliance requirements are not documented.
In conclusion, Finotive offers a range of forex trading services, but it is categorized as a closed broker, which may affect its regulatory status and operational capabilities. As with any broker, potential clients should conduct thorough research and due diligence before engaging in trading activities.