Skip to content
Country Flag US
Select Country
Country selection We will display only brokers and information that is relevant to your country.
Currently selected country
Select a different country
Language See the content translated in your language.

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

3.9
/ 5

Finam Forex review

Updated on Aug 15, 2024
|
11 mins read

Overview

FINAM Forex Broker is a subsidiary of Finam investment holding, a prominent player in the financial industry. Since its inception in 2006, this broker has had a maInvestment...
See full overview for Finam Forex
Countries
Max insured
No
Our Verdict
3.9
/ 5
Commissions & Fees
3.9
/ 5
Deposit & Withdrawal
4.1
/ 5
Customer Support
3.8
/ 5
Account Opening
4.1
/ 5
Regulation & Safety
3.7
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • FINAM does not charge any commissions on trades, allowing traders to keep more of their profits.

  • Opening an account with FINAM does not require a minimum deposit, making it accessible for traders with different budget levels.

  • FINAM provides various educational resources such as seminars, paid courses, webinars, and more, helping beginners and advanced traders enhance their trading skills.

  • Traders can choose from various trading platforms supported by FINAM, providing flexibility and options to suit their trading preferences.

Cons

  • Unfortunately, FINAM does not currently accept clients from the United States.

  • FINAM offers a limited selection of payment methods, which may be a drawback for traders who prefer more diverse options.

  • FINAM only offers one type of trading account, potentially limiting the customization options available to traders.

  • While Russian legislation regulates FINAM and holds licenses from relevant authorities, it is not regulated by well-known bodies such as the FCA or CySEC.

General details

Type of accounts
Execution Model
NDD
Deposit currency
EUR
USD
GBP
AUD
CHF
NZD
Regulatory complience
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Russian
Autotrading
WhoTrades Platform MT4 EA MT5 EA FinamTrade QUIK TRANSAQ
Contact details
[email protected] +7 (495) 1-346-346

Customer reviews

Read real reviews from traders all over the world:

Г
Галина Посаженникова
26 January 2021
Advantages: As per my experience with this broker of several months, I would say that this is good broker for forex trading, offering fair conditions. I have ecn account here so I can confirm that there are no spreads, just small commission of $7 for round lot. There is also quite good leverage which goes up to 1:500. Platform runs good, no issues
Disadvantages: until I saw the cons.
Everything suits me,I'm happy.
See all 1 customers reviews

Accounts

Type of Trading Accounts on FINAM 

When it comes to account types, FINAM FOREX understands the importance of providing options that cater to the diverse needs of its clients. This broker firm provides a single live account and a demo account to its users:

  • FINAM Live Account: With this Account, traders can enjoy competitive trading conditions and a range of comprehensive solutions and services. Clients can get started with a minimum deposit of just $0, meaning no hefty initial investment is required. The leverage offered is 1:40, giving traders the flexibility to maximize their trading potential. When it comes to spreads, clients can expect as low as 0.6 pips on popular currency pairs like USD/EUR. FINAM forex broker does not charge any deposit or withdrawal fees.
  • FINAM FOREX Demo Account: For those who prefer to test the waters before diving in, FINAM also offers a demo account. This Account allows traders to explore the world of trading with virtual funds, providing a risk-free environment to hone their skills. The demo account mirrors the functions, features, and options of a live trading account, ensuring that you get a realistic experience. FINAM FOREX generously funds the demo account with a balance of 500,000 RUB, giving you ample resources to practice and experiment. The best part is that the demo account never expires, allowing clients to take their time and gain confidence in their trading abilities.
Russian stock market - Finam Forex
Phone trading
Trading 24 hours a day
Trailing stop
Interest on free balance
Trading Platforms
METATRADER 4 TRANSAQ ATAS FINAMTRADE
Deposit currency
USD
RUB
Trading instruments
1:10
1:10
Execution type
market
Spread type
Floating
Decimal places
5
Commission
0,00944%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Single Account - Finam Forex
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Interest on free balance
Trading Platforms
METATRADER 4 FINAMTRADE
Deposit currency
RUB
Trading instruments
Forex
1:40
Number of currency pairs: 7
AUD
CAD
CHF
EUR
GBP
NZD
USD
1:40
1:40
1:40
Cryptocurrencies
Stop Out
30 %
Minimum position size
0.01 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
30 %
Locked Margin Level
50 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Foreign exchange market of the Russian Federation - Finam Forex
Trading Platforms
METATRADER 4
Deposit currency
EUR
RUB
USD
Trading instruments
Forex
1:10
Number of currency pairs: 3
EUR
RUB
USD
1:10
1:10
Execution type
market
Spread type
Floating
Decimal places
5
Commission
0,0027%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Russian Derivatives Market - Finam Forex
Phone trading
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 TRANSAQ QUIK MMA MOBILE FINAMTRADE
Deposit currency
USD
RUB
Trading instruments
Forex
1:10
Number of currency pairs: 11
AUD
CAD
CHF
JPY
NZD
USD
EUR
GBP
RUB
SGD
ZAR
1:10
1:10
1:10
Execution type
market
Spread type
Floating
Decimal places
5
Commission
0.45 rub
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Russian Stock Market - Finam Forex
Phone trading
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 TRANSAQ ATAS FINAMTRADE
Deposit currency
USD
RUB
Trading instruments
1:10
1:10
Execution type
market
Spread type
Floating
Decimal places
5
Commission
0,00944%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Single Account - Finam Forex
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 FINAMTRADE
Deposit currency
RUB
Trading instruments
Forex
1:40
Number of currency pairs: 8
AUD
CAD
CHF
JPY
NZD
USD
EUR
GBP
1:40
1:40
1:40
Cryptocurrencies
Stop Out
30%
Minimum position size
0.01 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
30%
Locked Margin Level
50%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on Finam Forex trading platforms include:

  • CFDs
  • Energies 
  • Metals
Currencies
N/A
Stocks
N/A
Commodities
N/A
Indices
N/A

Frequently asked questions

Find the right answer to your question below.

Is FINAM a Scam?

The Russian legislation regulates FINAM and operates under a license from the Central Bank of the Russian Federation. This provides a certain level of oversight and protection for clients. 

However, it’s important to note that FINAM is not regulated by well-known regulatory bodies such as the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC). This may raise some concerns for traders who value the oversight provided by these established authorities. 

Additionally, FINAM does not have a presence on Trustpilot, a popular review platform, making it hard to assess the broker’s reputation.

How do I open a FINAM trading account?

Opening a trading account with FINAM is a straightforward process. Navigate to the official FINAM website using your preferred web browser. Look for the “Open Account” button on the website and click on it. Fill out the registration form with accurate and relevant information. This may include personal details such as your name, email address, phone number, and country of residence. 

Follow the instructions provided to upload the required documents securely. Take the time to carefully review the terms and conditions and any other relevant legal agreements or disclosures. Once your Account is approved and verified, you can fund your trading account.

Finam Forex compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
  • 3.9
    / 5
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.9
    / 5
  • N/A
  • N/A
  • 3.7
    / 5
  • No
  • Yes
  • See review
RoboForex
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 4.9
    / 5
  • 5
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • 1%
  • $0
  • 4.9
    / 5
  • No
  • Yes
  • See review
XM
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.5
    / 5
  • 4.6
    / 5
  • $5
  • 1:888
  • 4.3
    / 5
  • $0
  • $0
  • 4.7
    / 5
  • ASIC, FSC, CYSEC
  • Yes
  • See review
Exness
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • 4.9
    / 5
  • 4.9
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • $0
  • $0
  • 4.6
    / 5
  • FCA, CYSEC
  • No
  • See review
  • 3.9
    / 5
  • 4
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.7
    / 5
  • CYSEC, FSC
  • No
  • See review
Choose brokers to compare Finam Forex to
202
0
Would love your thoughts, please comment.x
()
x