Menu Review: Is Finmarket a Safe Broker?

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With a CySEC license, Finmarket is seen as a reliable broker by most pundits. On the other hand, others believe that the broker could do better in terms of service delivery. With the push and pull as to whether the broker is worthy, we had to investigate. Review

Just because a broker has a valid license doesn’t mean their services are worthy. Having a license guarantees users their safety and security of funds. Learn more in this fair and open FINMARKET Review.

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About Finmarket

FinMarket is a brand that is operated and owned by K-DNA Financial Services Ltd. The company provides CFD and Forex trading services and has done so for over 14 years. K-DNA operates in the EU region and complies with all set rules.

It’s safe to say that your funds are in good hands when it comes to security. With such a platform, you are bound to get compensation in the event of bankruptcy. There are other features to investigate with Fin Market.

Once you land on their homepage, you get a feeling that this is a legit broker. The broker straight away gives you the necessary information regarding services on offer. With the website being aesthetically pleasing, we have to find out whether they are legit.

Some brokers may use other legit and licensed entities to strengthen their status. Ensure you read and find out the features available on the platform.

Are funds safe with FinMarket?

Finmarket License Details

With the broker having a clear way to trade, we believe your funds will be safe. The broker has over 16 years of trading experience. Investors should note that this broker is a new entity to the market. K-DNA Financial Services Ltd is the body with over 16 years of experience.

There are a few alarming issues we must mention in regards to Fin Market. Their presence is not felt in most jurisdictions which is a small issue. The safety of members is the top priority a broker should offer to members.

Business owner K-DNA

There’s no denying that K-DNA Financial Ltd is a formidable trading group. The company is reliable and has, over the years, been deemed transparent. From what we have found out, the business owner has years of trading experience.

Since Fin Market is under their wing, we expect the broker to have the same professionalism. Only time will tell whether they will offer reliable services or break down with time.

Comments and feedback from users

Here’s where matters get dicey with Fin Market as they only have Trustpilot review. For a broker with over 14 years of experience, we expect more. The review is in French, which leads us to believe that this is probably a made-up comment.

Fin market CySEC License

It’s a single comment from Rupert Jones posted a few days ago. For over ten years, no one else has commented on the broker. To us, this is a bit discerning and sketchy. There should be plenty of client reviews on the broker.

Compliance, License, and Registration Finmarket

Finmarket is a broker whose owner K-DNA Financial Ltd holds a valid trading license from CySEC. You can easily verify this information by going to CySEC’s website for more. Although the parent company has a valid license, we are not sure about the validity of brokers.

We hope that the brokers are fully professional and can be trusted with customer’s funds. Even licensed brokers can collude with companies to profit from losses.

There’s a valid license from CySEC on their website with registration details. The legal documentation page has an array of terms and conditions members’ should go over. You should understand the terms, especially deposit and withdrawal.

These are the terms that can shape your trading future. Ensure you only sign up if the terms favor members and liability is a 50/50 sharing venture.

Domain insights ( review)

Domain checker tools show the website went live on October 3, 3004. There have been over 59 changes on their IP address for the past 16 years. It’s a positive attribute as it shows the broker has been making updates from time to time. Domain checker tools help show the background and history of the platform.

We have a few questions on our minds regarding Fin Market openness to their actual domain. With no reviews after 16 years, we feel that the broker is a bit misleading.

Features of Finmarket

Account Details Account Types

There are five account types to choose from with Finmarket. Silver, Gold, Platinum, Diamond, and Elite accounts are there for the taking. The basic account has a minimum acceptable deposit of $250.

Elite members can deposit up to $250,000 to start trading with the platform. The leverage on the platform is within limits set by regulators in the EU region. 1:30 is the maximum leverage which is not too high for traders.

Assets and trading instruments

The platform offers five trading assets to use when trading with the platform. These assets include commodities, crypto, forex, indices, and shares. Popular commodities include coffee, crude oil, gold, and sugar.

Leverage for commodities is set at 1:10, which is also fair to traders. The platform offers leading Crypto coins such as Bitcoin, Dash, Ethereum, Litecoin, and more. There are over 200 tradable forex products and stocks from leading companies.

Deposit and withdrawal

Depositing funds with this platform is easy and takes less than five minutes. There are various channels to use when depositing with this platform. These channels include Maestro, MasterCard, Neteller, Skrill, Visa, and more.

When it comes to withdrawing funds, there are two terms, that Euro and for USD. You have to send a withdrawal request and wait for 48 hours for approval. Our readers should note that we don’t have anyone with proof of withdrawing from the platform.

Registering with Fin market

One issue that we must raise with the broker is the registration process. The broker asks too many questions, which might lead to users ignoring the process. Brokers should only ask for relevant information and avoid too much personal information.

Today’s investor wants to keep his trading private and, as such, won’t divulge much information. The signing process might take over 10 minutes to complete, which is absurd.

Trading platform Trading Platform

There are two trading platforms to choose from with this broker. You can choose MT4 or a web trading platform. The link leading to their web portal is broken, which is another problem with the site’s user ability.

From the screenshots we’ve seen, the web platform is simple with third-party charts. With third-party platforms, users don’t get the much-needed trading features and reduces user experience.

Scam or Legit Finmarket

Finmarket comes out as a broker who needs to put on a strong show. Only time will tell whether the broker is reliable or not. As for now, the best bet is to have an accomplished broker with a proven reputation. It’s the only sure way to trade.

Closing remarks

We won’t be recommending this broker due to the expense of running the accounts. You should note that the broker heavily penalizes inactivity.

Instead of facing such challenges, we suggest you choose formidable and open trading experts. These brokers will guarantee safety for all investors.

We wish everyone a profitable and safe trading experience.

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