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Finior Capital Review - is it scam or safe?

Finior Capital Review - is finiorcapital.com scam or good forex broker?

RATING: 2.7 / 1 REVIEWS ForexBrokerz Finior Capital
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Trading Accounts and Conditions

 

Trading account Min. deposit Max. leverage Spread
Standard $1 000 N/A N/A
Pro $10 000 N/A N/A
VIP  $50 000 N/A N/A

  

Finior Capital is a newly-launched forex brokerage operating out of the United Arab Emirates which caters to professional clients. It provides access to the MT5 and several different account types, all of which offer trading with raw spreads. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform.

 

 

Finior Capital Advantages

 

Licensed in Abu Dhabi

On the website of the brokerage we read that the company-owner is Finior Capital Limited – a company licensed by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). This is a big advantage for its clients since regulation brings along significant guarantees for the security of their funds.

 

The ADGM aims to ensure that financial service providers operating in the UAE work with the best interests of their clients in mind, while following international standards and best practices. ADGM’s Financial Services Regulatory Authority is committed to operating a fair, efficient and responsive regulatory environment for its market participants and stakeholders both in the UAE and internationally.

 

Access to MetaTrader 5

As we mentioned in the beginning, Finior Capital’s uses the MetaTrader5 (MT5). This is the latest platform issued by the Russian fin-tech company a MetaQuotes nd enjoys increasing popularity among both brokers and traders lately. The MT5 has kept most of MetaTrader 4’s valued tools and features, and on top of that allows trading in exchange-traded stocks. The charting of the MT5 is almost the same as that of its predecessor, and it also provides Expert Advisors for automated trading.

 

 

>> Check out the best MT5 brokers <<

 

 

Attractive demo spreads

Although the broker has not indicated any reference spreads on its website, through a demo account we could see a spread of 0.6 pips on EUR/USD, and no commission applied.

 

 

 

Click on the image to view larger.

 

This is a lucrative offer, as most brokers’ trading costs are around 1.0 – 1.5 pips on average for this pair.

 

 

>> Compare the spreads of top forex brokers <<

 

 

Finior Capital Disadvantages

 

Trading conditions not clearly presented

There is no information to be found on Finior Capital’s website regarding the costs of trading, maximum leverage levels provided, additional fees (if any), etc.. The “account types” section specified by Finior Capital only mentions the minimum investment required. This leaves a bad impression, especially on the part of a regulated broker. Yet, it may be due to the fact that the broker’s website was launched very recently. 

 

Professional clients only accepted

This could actually be seen as an advantage by professional traders, yet we should mention it. Finior Capital accepts only traders who can prove they own 500,000 USD or more in net assets. 

 

 

No exchange-traded stocks available

This is not a major flaw, yet we decided to mention it. Traders willing or used to trading in CFDs on stocks and ETFs will be disappointed, Finior Capital does not offer any, at least on its demo MT5. And, as was mentioned above, this platform is especially popular for allowing trading in OTC products and exchange-traded stocks from one and the same account.

 

Bank wire payments only

The ways to deposit and withdraw funds to and from this broker are limited to bank wire payments only. This isn’t a major drawback for the vast majority of potential clients, but will disappoint those who are used to dealing with e-wallets, such as Skrill and Neteller.

 

 

Conclusion

 

Finior Capital is a young broker licensed in Abu Dhabi who caters to professional traders. Below, you may also check out our list of brokers licensed in the United Arab Emirates (UAE).

 

 

>> UAE forex brokers <<

 

 

And finally, here are the highlights of the present review of Finior Capital:

 

Pros Cons
Licensed in Abu Dhabi Unpolished presentation
MT5 available Professional traders only
Attractive demo spreads No stock CFDs available
  Bank wire payments only

 

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Traders` reviews for Finior Capital

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

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