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FINOWIZ Forex broker specializes in providing foreign exchange trading services, the company's official website https://client.finow..., the company's legitimate regulatory information United StatesFinCENFinancial Service to enhance the security of the company's address

FINOWIZ Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

Finowiz Fintech Limited

Abbreviation

FINOWIZ

Company employee

Customer Service Email Address

support@finowiz.com

Company Website

https://www.finowizprime.com/

Facebook

https://www.facebook.com/finowizfxofficial/

https://x.com/FinowizOfficial

Instagram

https://www.instagram.com/finowiz_official/

Keywords

2-5 years

Regulated in United States

Financial Service

MT5 Full License

Regional Brokers

Company profile

AspectInformationFounded2020Registered Country/RegionSaint LuciaRegulationFinCENMarket InstrumentsForex, indices, metals, cryptocurrencies, energiesDemo AccountNot mentionedLeverageUp to 1:500SpreadNot mentionedTrading PlatformNot mentionedMinimum Deposit$100Customer Support24/7, contact form, phone, email, social mediaFinowiz Information Founded in 2020, FINOWIZ is a regulated Saint Lucia-registered broker. It specializes in forex, indices, metals, cryptocurrencies, and energies trading with leverage up to 1:500 and minimum deposit requirement of $100. PAMM and copy trading are both available.Pros & Cons Finowiz has some notable pros and cons that traders should consider before engaging with the platform.ProsConsRegulated by FinCENNo info on spreadsNegative balance protection No info on trading platformsVarious trading instrumentsLimited payment optionsPAMM and copy trading supportedNonfunctional educational resourcesFlexible leverage ratiosNo live chat supportFree deposits and withdrawalsRegional restrictionsBonus offeredMultiple contact channels On the positive side, Finowiz is regulated by FinCEN, a famour regulatory institution. And it offers negative balance protection for all account types. Available asset class is various ranging from forex to indices, metals, cryptocurrencies, and energies. Features like PAMM and copy trading makes it different from most brokers. Besides, you can have different leverage ratios based on different account types, and the maximum leverage is up to 1:500. There is also no fees for deposits and withdrawals. The most surprising is a 100% tradable bonus and a refer a friend bonus up to $20. Last but not least, customer support is very important for traders, and it provides multiple contact channels. You can leave a message via a contact form, call, email, or directly visit their physical address in Dubai. On the downside, Finowiz seems to forget openly revealing info on spreads and trading platforms. And their payment options are limited compared to other brokers. Popular payment methods like Visa, MasterCard, Skrill, and Neteller are all not available. What's worse, it claims to offer rich educational resources on their webiste, but none of them is functional. When we click related parts, we are told that we can't access. In addition, though there are many contact ways, no live chat feature. Lastly, if you are a citizens or resident of the United States, Cuba, Iraq, Myanmar, North Korea & Sudan, you can't trade with them.Is FINOWIZ Legit?Financial Crimes Enforcement Network (FinCEN)Current StatusRegulatedRegulated by United StatesLicense TypeCrypto-LicenceLicense No.31000251040869Licensed InstitutionFinowiz Fintech Limited Yes. Finowiz is legit. It currently holds a regulated crypto licence from the Financial Crimes Enforcement Network (FinCEN, No. 31000251040869). Besides, as their website shows, it offers negative balance protection for all account types. So trading with Finowiz is relatively safe, but don't neglect the risks on all trading markets.Market Instruments FINOWIZ provides five asset classes: forex, indices, metals, cryptocurrencies, and energies. However, when compared to other brokers, it doesn't offer access to various popular trading options like stocks, options, ETFs, and more. Trading AssetAvailableforexindicesmetalscryptocurrenciesenergiesstocksoptionsETFs Account Types When considering a forex trading platform like FINOWIZ, it is essential to understand the different account types available. Each account type caters to specific trading preferences and comes with its own set of advantages and disadvantages. In this comparison, we will examine the Micro, Standard, and ECN account offered by FINOWIZ.Account TypeMinimum DepositMicro$100Standard$1,000ECN$2,500 From the table above, you can find that the Micro account is equipped with the lowest minimum deposit requirement of $100, while $2,500 for the ECN account. If you are a beginner, you can consider choosing the most basic Micro account. But if $100 is still too high for you, you can choose other regulated brokers who only requires $10 minium deposit or open a risk-free demo account first.Leverage Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Micro or ECN account can enjoy the maximum leverage up to 1:500, while the Standard accunt provides a maximum leverage of 1:400. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.Account TypeLeverageMicro1:500Standard1:400ECN1:500Spreads & Commissions Spreads and commissions play a crucial role in determining the overall trading costs for traders. FINOWIZ gives different types of accounts, and the commissions vary depending on the account type chosen.Account TypeSpreadCommissionMicroNot mentioned0%StandardECN4% Specifically, there is no commission on the Micro and Standard accounts, while the ECN account holders have to pay 4% commission. However, there is no info about spreads. You can contact FINOWIZ to know further.PAMM & Copy Trading Finowiz features with PAMM and copy trading. PAMM is an automated trading system where the manager trades using his or her own trading strategy, and the account is divided into smaller portions to accommodate the investments of multiple clients. Itdelegates the management of your funds to experienced traders, thus giving you the advantage of expert insights and trading acumen. Additionally, their CopyTrading feature encourages collaborative learning. You can observe, follow, and copy successful trades in real-time. It's a great way to kickstart trading without learning everything on your own. If you want to start copy trading, you need to fund your account, and then select a trader to copy. Now, you start copying trades and monitor your profit.Deposit & Withdrawal FINOWIZ accepts deposits and withdrawals via UPI (Unified payments interface), Bank transfer, ERC 20, Ethereum, and Bitcoin. Some popular payment options like Visa, MasterCard, Skrill, and Neteller are not supported. Minimum deposit and withdrawal amount are both BTC worth $50, and no limit for maximum. The broker claims to offer no fees for any deposit or withdrawal. As for the processing time, deposits are usually processed instantly or within a few hours, but withdrawals may take up to 24 working hours to process depending on the payment method and other factors.Deposit/Withdrawal OptionsMin. AmountMax. AmountFeeProcessing TimeBTC worth $50No limitFreeInstant Bonus & Promotion Finowiz claims to offer a 100% tradable bonus. It also gives a Refer a Friend Program, which states that you can earn up to $20 for every friend or family member you refer, and your friend will also be rewarded $20 when they sign up with your invitation email. However, we cannot be sure if the bonus is really available without any condition.Tools & Education FINOWIZ claims to offer some learning resources, including articles to read, latest news, economic calendar, educational videos, and FAQ. However, only economic calendar and FAQ is really available, others are nonfunctional.Customer SupportContact ChannelDetailsContact form+971-44475716support@finowiz.comhttps://www.facebook.com/profile.php?id=100088086437671https://www.youtube.com/channel/UCJCT66IWkGH2qTADZPvKLWQhttps://www.instagram.com/indiafinowiz/https://www.linkedin.com/company/finowiz-limited/Registered Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint LuciaPhysical Address: Office #1105, The Prism Tower, 139, Al Mustaqbal Street, Business Bay, DubaiQ&A Is FINOWIZ regulated? Yes. It is regulated by FinCEN. Does FINOWIZ offer demo accounts? It seems that no demo accounts are available, as we can't find any info on this from their site. Does FINOWIZ offer MT4/5? It doesn't reveal any info on trading platforms. Are there any regional restrictions at FINOWIZ? Yes. Finowiz Fintech Limited does not provide services for citizens/residents of the United States, Cuba, Iraq, Myanmar, North Korea & Sudan.

FINOWIZ broker review

Is FINOWIZ safe or scam

Rating Index

ECN

Minimum Deposit

$2500

Micro

Minimum Deposit

$100

How to login to FINOWIZ?

finowiz Complete Account Guide: Registration, Account Opening, and Login Processes This comprehensive guide aims to provide you with a clear understanding of the processes involved in registering, opening an account, and logging into the finowiz platform. By following this guide, you will navigate t

Finowiz Forex Broker - Complete Information Guide

1. Overview of the Broker

　　Finowiz, officially known as Finowiz Fintech Limited, was established in 2020. The company is headquartered in Saint Vincent and the Grenadines, with additional offices located in Dubai. It operates as a private entity, focusing primarily on retail forex trading and offering various financial services to its clients.

　　The broker targets a diverse clientele, including both novice and experienced traders, mainly in the European and Asian markets. Despite its relatively recent entry into the forex market, Finowiz has attracted attention due to its aggressive marketing strategies and promises of high returns on investments.

　　Finowiz's development has been marked by its rapid expansion into various trading products, including forex, CFDs, and cryptocurrencies. However, it has also faced scrutiny regarding its regulatory compliance and operational transparency. The parent company, Finowiz Fintech Limited, operates under the registration number 21889 IBC 2016, which is indicative of its offshore status.

　　The business model of Finowiz primarily revolves around retail forex trading, enabling clients to engage in trading various financial instruments through its online platform. However, the lack of a demo account and beginner-friendly resources suggests a focus on more experienced traders.

2. Regulatory and Compliance Information

　　Finowiz operates without regulation from any major financial authority, which raises significant concerns regarding its legitimacy and the safety of client funds. The broker is not listed under any recognized regulatory body, and there are no valid licenses associated with it. The UK's Financial Conduct Authority (FCA) has issued warnings against Finowiz, advising potential clients to avoid dealing with the firm due to its unauthorized status.

Regulatory Bodies: None
Regulatory Numbers: No applicable numbers due to lack of regulation
License Validity: N/A
Legal Entities by Region: Primarily operates under Finowiz Fintech Limited in Saint Vincent and the Grenadines
Client Fund Segregation Policy: Not applicable as the broker is unregulated
Investor Compensation Fund Participation: None
KYC and AML Compliance: Minimal information available; the broker does not make clear its adherence to KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.

　　The absence of regulatory oversight means that clients are not protected in the event of fraud or operational failures, highlighting the risks associated with trading with the Finowiz broker.

3. Trading Products and Services

　　Finowiz offers a limited selection of trading products compared to other brokers in the market. The primary trading offerings include:

Forex Currency Pairs: The broker provides access to a variety of forex pairs, although the exact number is not specified. Major currencies are likely included, but the selection appears to be limited.
CFD Products: Finowiz offers CFDs on indices and metals, but it lacks a comprehensive range of commodities and cryptocurrencies that are often available with other brokers.
Special Products: There are no unique products or proprietary trading instruments highlighted by the broker.
Product Update Frequency: Information regarding updates to product offerings is not disclosed.
Retail Trading Services: Focused on individual traders, with no specific mention of institutional services or white-label solutions.
Asset Management Services: Not mentioned in the available information.

　　Given the limited scope of products and services, the Finowiz broker may not cater to traders looking for a diverse trading experience.

4. Trading Platforms and Technology

　　Finowiz supports the MetaTrader 5 (MT5) trading platform, which is widely recognized for its robust features and user-friendly interface. The platform is available for various devices, including smartphones, tablets, and desktop computers.

MT4/MT5 Support: The broker exclusively offers MT5, with no mention of MT4.
Proprietary Platform Details: No proprietary trading platform is indicated.
Web-Based Trading Platform: Accessible through standard web browsers.
Mobile Applications: The MT5 app is available for both iOS and Android devices.
Execution Models: The broker claims to operate on an ECN model, but this is questionable given its lack of regulation.
Server Location and Infrastructure: Specific details about server locations are not provided, which is crucial for understanding execution speed and reliability.
API Access and Automated Trading Support: There is no mention of API access or support for automated trading strategies.

　　The technology infrastructure appears to be standard for the industry, but the lack of additional features or proprietary tools may limit the trading capabilities of the Finowiz broker.

5. Account Types and Trading Conditions

　　Finowiz offers several account types, each with different conditions. However, the details provided are vague and somewhat inconsistent.

Standard Account Conditions:
Minimum Deposit: $10
Spreads: Starting from 2 pips
Commission: Varies by account type
Advanced Account Types:
ECN and ECN Pro Accounts: Higher minimum deposits are required, with tighter spreads.
Special Accounts: The availability of Islamic accounts or corporate accounts is not mentioned.
Demo Account Policy: No demo accounts are offered, which is a significant drawback for beginners.
Leverage Ratios: Maximum leverage is reported to be up to 1:500, which is higher than what is allowed in many regulated jurisdictions.
Minimum Trade Size: Details are not clearly outlined.
Overnight Fees Policy: Not specified.

　　The trading conditions provided by the Finowiz broker may not be competitive, especially considering the lack of transparency and the absence of a demo account for practice.

6. Fund Management

　　Finowiz has not disclosed comprehensive details regarding its fund management practices, which raises concerns about transparency.

Supported Deposit Methods: The broker reportedly accepts various methods, but specifics are not provided.
Minimum Deposit Requirements: Varies by account type, starting from $10.
Deposit Processing Time: Not specified.
Deposit Fees: No clear information available.
Withdrawal Methods and Restrictions: The exact methods are not disclosed, and withdrawal processing times may vary.
Withdrawal Fees Structure: Not mentioned.

　　The lack of clarity regarding deposit and withdrawal processes is a significant concern for potential clients of the Finowiz broker.

7. Customer Support and Educational Resources

　　The customer support services offered by Finowiz appear to be limited and below the expected standards.

Support Channels: Available through email and possibly phone, but no live chat support is mentioned.
Service Hours and Time Zone Coverage: Specific hours of operation are not detailed.
Multilingual Support: It is unclear which languages are supported.
Types of Educational Resources: Limited information available; no comprehensive educational programs or materials are provided.
Market Analysis Services: No specific services mentioned.
Trading Tools: Basic tools like calculators and calendars may be available, but details are sparse.

　　Overall, the Finowiz broker does not seem to provide adequate customer support or educational resources to assist traders in their activities.

8. Regional Coverage and Restrictions

　　Finowiz appears to have a broad target market, but it does impose certain restrictions.

Primary Service Markets: Focused on European and Asian traders.
Regional Office Distribution: Limited to its main offices in Saint Vincent and the Grenadines and Dubai.
Countries/Regions Not Accepted: The broker does not accept clients from the United States, Cuba, Iraq, Myanmar, North Korea, and Sudan.
Special Restrictions: The broker's operations in offshore jurisdictions raise concerns about the safety and legality of its services.

　　In conclusion, while the Finowiz broker offers some trading opportunities, the significant concerns regarding its regulatory status, limited product offerings, and lack of transparency suggest that potential clients should proceed with caution.

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