Finzo Markets Forex Broker

General Information & Regulation Finzo Markets, a trading name of Finzo Markets International Ltd, is allegedly a broker based in Saint Vincent and the Grenadines that provides its clients with the Web Trader and mobile apps as its trading platforms, leverage up to 1:1000, variable spreads from 0.5 pips on various tradable assets, as well as a choice of three different account types and 24/7 customer support service. Market Instruments Finzo Markets advertises that it offers a variety of trading instruments in financial markets, including forex currency pairs, commodities, shares and cryptocurrencies. Account Types There are three live trading accounts offered by Finzo Markets, namely Gold, Platinum and Premium. Opening a Gold account requires the minimum initial deposit amount of $150, while the other two account types with the much higher minimum initial capital requirements of $250 and $500 respectively. Leverage The maximum leverage ratio provided by Finzo Markets is much higher than most brokers, up to 1:1000. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage. Spreads & Commissions Spreads are influenced by what type of accounts traders are holding. Finzo Markets reveals that the spread on the Gold account starts from 1.5 pips, the clients on the Platinum account can experience spreads from 0.8 pips, while the Premium account can enjoy the lowest spreads from only 0.5 pips. As for commissions, the broker charges all account types a commission of $2 per side per 10000. Trading Platform Available When it comes to trading platforms available, Finzo Markets gives traders two choices: Web Trader and mobile apps (iOS, Android). Web Trader is advertised as a supreme trading platform that offers basic functionalities for the forex beginner, as well as an advanced technical charting for the experienced trader. While with mobile apps, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android. Deposit & Withdrawal Finzo Markets says to accept deposits and withdrawals with bank wire transfers, credit/debit cards, Skrill, Neteller, Bitcoin and cryptocurrencies. The minimum deposit requirement is $150 and the minimum withdrawal amount is $25. The broker also charges some deposit and withdrawal fees. In particular, the broker will charge a commission fee of $25-30. For withdrawals via Neteller and Skrill, there will be a 2.5% administrative Fee charged upon withdrawal for clients from Bangladesh, Spain, Netherlands, India, Indonesia, Mexico, Nigeria, Pakistan, South Korea, Venezuala, Vietnam and Zimbabwe. As for the processing time of deposit and withdrawal requests, it takes 2-5 business days to process bank wire transfers, and 1 business day or less to process credit cards and digital wallet transfers. While withdrawal requests can be processed within 1 business day. However, it may take 24 -48 hours for the funds to reach the account. Note that if you fund via credit card or digital wallets (Neteller, Skrill, etc), you can only withdraw your deposit after 30 days if there is no trading activity. Customer Support Finzo Markets‘ customer support can be reached by email: Info@finzomarkets.com or send messages online to get in touch. Company address: C/o Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.