Finflow-x Review 2023

Assets:

How fees are ranked:

Finflow-X's fee levels are ranked as low, average, or high based on a comparison with other reviewed brokers. Trading fees and non-trading fees are taken into account.

Trading fees include commissions, spreads, financing rates, and conversion fees. Non-trading fees include charges unrelated to trading, such as withdrawal fees or inactivity fees.

Comparisons are made with similar brokers, such as XM and ActivTrades, based on objective factors like product offerings, client profile, and fee structure.

Trading Fees:

Finflow-X's trading fees are considered low. The pricing structure depends on the chosen account type, with the review focusing on the FxPro Platform account.

To make fee comparisons clear and comparable, a typical trade scenario was used for selected products in different asset classes. This includes popular instruments such as stock index CFDs, stock CFDs, and forex pairs.

Non-Trading Fees:

Finflow-X has average non-trading fees. There are no account fees, and most withdrawals are free. However, fees may apply when withdrawing funds to Neteller or Skrill without trading or refunding to PayPal after more than 6 months from the initial funding.

An inactivity fee is charged after 6 months of no trading activity. It starts with a one-off account maintenance fee of $15, followed by a $5 monthly fee for each subsequent inactive month. Note that terms may vary slightly based on jurisdiction.

Overall, Finflow-X offers competitive fees for trading, but it's important to be aware of the potential inactivity fee and higher stock CFD fees.

What is the minimum deposit at Finflow-X?

The required minimum deposit at Finflow-X is $1500, which is an attractive feature for traders looking to start with a low amount.

Account Types:

Finflow-X offers different account types, each with varying pricing, trading platforms, and execution methods. These account types include:

• Basic Account: €1,500 deposit, 24/7 support, professional charting, 7-day managed trial, 5 markets access, 1:25 leverage.
• Silver Account: €25,000 deposit, personal analyst, monthly sessions, 24/7 support, 30-day managed trial, 5 markets access, 1 free monthly withdrawal, up to 30% bonus, 1:25 leverage.
• Gold Account: €50,000 deposit, personal analyst, weekly sessions, 24/7 support, managed account membership, 5 markets access, 1 free weekly withdrawal, up to 50% bonus, 1:25 leverage.
• Platinum Account: €150,000 deposit, personal analyst, weekly sessions, 24/7 support, WhatsApp dealing, 5 markets access, 1 free weekly withdrawal, up to 75% bonus, Platinum Market access, 1:100 leverage.
• VIP Account: Contact account manager for details; fully managed account, no fees, WhatsApp dealing, direct analyst communication, 1 protected trade/month, 1 market research/month, 1:200 leverage.

Additionally, there is a VIP account available for clients with a minimum account balance of $50,000 or its equivalent. The VIP account offers additional benefits such as a free Virtual Private Server service and reduced prices.

Finflow-X also provides options for corporate accounts and swap-free/Islamic accounts tailored to accommodate religious requirements.

How to open your account:

Opening an account with Finflow-X is a seamless and fully digital process. You can easily complete the online application form within 10 minutes, and our account was verified within two hours.

Overall, Finflow-X excels in account opening, providing a user-friendly and efficient experience for traders. The low minimum deposit requirement makes it accessible for traders of various levels.

Account Base Currencies:

At Finflow-X, you have the option to choose from 8 base currencies, including USD, EUR, GBP, CHF, PLN, AUD, JPY, and ZAR. While this selection is average compared to similar brokers, it is worth noting that only a few minor currencies are accepted.

Why does this matter? If you fund your trading account in the same currency as your bank account or trade assets in the same currency as your trading account base currency, you can avoid paying conversion fees.

Deposit Fees and Options:

Finflow-X does not charge any deposit fees. Alongside bank transfers and credit/debit cards, you can utilize several types of electronic wallets, including PayPal, Skrill, and Neteller. However, please note that electronic wallets are not available for UK clients.

Withdrawal Fees and Options:

Finflow-X generally does not impose withdrawal fees. However, there are exceptions. A fee is applicable if you refund to your PayPal account more than 6 months after the initial funding or if you refund to Neteller or Skrill without having executed any trades.

How long does it take to withdraw money from Finflow-X? In our testing, credit card/bank transfer withdrawals took 1 business day.

Please note that withdrawals can only be made to accounts in your name.

How to Withdraw Money from Finflow-X:

To withdraw money from your Finflow-X account, follow these steps:

• Log in to your account (Finflow-X Direct).
• Go to the 'Wallet' section.
• Click on 'Withdrawal.'
• Select your preferred withdrawal method.
• Enter the withdrawal amount.

Overall, Finflow-X excels in providing free and efficient deposit and withdrawal options through a variety of channels. The availability of credit/debit cards and the absence of deposit fees are significant advantages. However, the limitation on minor currencies may be a drawback for some traders.

Available Trading Platforms at Finflow-X:

Finflow-X provides multiple trading platforms for users to choose from:

• Finflow-X EDGE (proprietary trading platform)
• MetaTrader 4 (MT4) - third-party platform
• MetaTrader 5 (MT5) - third-party platform
• cTrader - third-party platform

For our review, we tested the widely used MT4 platform.

Languages Supported on Finflow-X Web Trading Platform:

The MT4 web trading platform on Finflow-X is available in a large number of languages, including but not limited to Arabic, Bulgarian, Chinese, Dutch, English, French, German, Italian, Japanese, Russian, Spanish, Swedish, and Turkish.

Look and Feel:

The Finflow-X MT4 web trading platform offers great customizability, allowing users to adjust the size and position of tabs according to their preferences. However, the overall design of the platform feels outdated, and some features may be difficult to locate. For example, adding an asset to the watchlist may not be immediately intuitive.

Login and Security:

Finflow-X currently provides only one-step login, which may pose a security risk. Implementing two-step authentication would enhance the platform's security features.

Search Functions:

The search functions on the platform are decent, with assets grouped into various categories. However, there is a lack of a manual search function where users can directly type the name of a specific asset.

Placing Orders:

The basic order types are available on the Finflow-X MT4 web trading platform, including market, limit, stop, and trailing stop orders. However, more advanced order types such as "one cancels the other" are not supported. Trailing Stop orders are exclusive to the MT4 desktop platform.

The platform also offers order time limits, including Good 'til Canceled (GTC) and Good 'til Time (GTT).

Alerts and Notifications:

Unfortunately, the Finflow-X MT4 web trading platform does not provide the option to set alerts and notifications. This feature is only available on the desktop trading platform.

Portfolio and Fee Reports:

Finflow-X delivers clear portfolio and fee reports on its web trading platform. Users can easily view their profit/loss balance and the commissions they have paid. However, we couldn't find a way to download these reports directly from the platform.

Overall, while the Finflow-X web trading platform offers some useful features such as customizable charts and workspace, it falls short in terms of design, price alerts, and advanced order types. Additionally, the absence of two-step authentication and limited search functions may impact the user experience.

Available Mobile Trading Platforms at Finflow-X:

Finflow-X offers several mobile trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and the Finflow-X Direct app. For our review, we focused on the MT4 mobile trading platform.

Supported Languages on the Mobile Trading Platform:

The MT4 mobile trading platform on Finflow-X supports multiple languages, similar to the web version. For iOS, the language options are the same as those available on the web version. On Android, the platform uses the default language of the user's phone.

Look and Feel:

The Finflow-X MT4 mobile trading platform features a great-looking design that is visually appealing. The platform is well organized and user-friendly, allowing users to easily navigate and access all the necessary features.

Login and Security:

Finflow-X provides the option for two-step login on the MT4 mobile trading platform, which adds an extra layer of security to the login process. However, it does not support Touch/Face ID login, which would provide greater convenience for users.

Search Functions:

The search functions on the mobile trading platform are effective, allowing users to search for specific products by typing their names or by navigating through category folders. This makes it easier to locate and trade desired assets.

Placing Orders:

Users can utilize the same order types and order time limits on the mobile trading platform as they would on the web trading platform. This includes market, limit, stop, and trailing stop orders, as well as order time limits like Good 'til Canceled (GTC) and Good 'til Time (GTT).

Alerts and Notifications:

While alerts and notifications can be set for mobile devices, this functionality is only available on the desktop trading platform. It would be more convenient if users could set alerts and notifications directly from the mobile trading platform itself.

Overall, the Finflow-X mobile trading platform, particularly the MT4 app, offers a well-designed and user-friendly experience. The platform's search function is effective, and the option for two-step login enhances security. However, the lack of Touch/Face ID login, order confirmation, and full alerts and notifications functionality on the mobile platform may be considered drawbacks.

Research Tools on Finflow-X:

• Tools Section on Finflow-X Platform: The 'Tools' section on the Finflow-X platform provides various research tools, including technical analysis indicators and features to support traders in their analysis and decision-making process.
• Analytics & Education Section: Finflow-X's 'Analytics & Education' section offers additional research tools and resources. It includes third-party services such as the LiveSquawk news feed, which provides audio commentary on market events, as well as Trading Central's trade recommendations.

Trading Ideas:

Finflow-X offers trading ideas from third-party provider Trading Central. Users can access these trading ideas by navigating to the 'Analytics & Education' section and selecting 'Trading Central' and then 'Take me to Trading Central'.

Fundamental Data:

While Finflow-X provides limited fundamental data, it offers an economic calendar and FxPro Squawk. The economic calendar allows users to filter events based on countries and data types, which is beneficial for forex traders. FxPro Squawk provides audio news updates.

Charting:

Finflow-X offers charting tools with access to 32 technical indicators. These charting tools are available on the MetaTrader trading platforms integrated into the platform. However, the design of the charting interface may be considered outdated, and some features can be challenging to use, such as removing indicators from the chart.

Search Functions:

The search functions on the mobile trading platform are effective, allowing users to search for specific products by typing their names or by navigating through category folders. This makes it easier to locate and trade desired assets.

News Feed:

Finflow-X provides a news feed with audio commentary through the 'Squawk' feature in the 'Analytics & Education' section. Additionally, the platform offers a dashboard page that provides an overview of recent market moves and client positioning in the forex markets.

In summary, Finflow-X offers robust research tools and resources, including technical analysis features and a market overview. While it lacks fundamental data, the platform provides trading ideas from Trading Central, a user-friendly interface, and a good set of analytical tools. Traders can benefit from the available research tools to support their trading strategies and decision-making processes.

Education Tools on Finflow-X:

• Demo Account: Finflow-X provides a demo account, allowing users to practice trading in a risk-free environment. This feature is beneficial for novice traders who want to gain experience and test their trading strategies before committing real funds.
• Platform Tutorial Videos: Finflow-X offers platform tutorial videos to help users navigate and utilize the features and tools available on the platform. These tutorials provide step-by-step guidance on using the platform effectively. Note that tutorials may not be available for MetaTrader platforms specifically.
• General Educational Videos: The platform provides educational videos covering various trading topics. These videos offer valuable insights and knowledge on different aspects of trading, including technical analysis, risk management, and trading strategies.
• Webinars: Finflow-X occasionally offers forex webinars, which are live online seminars conducted by industry experts. Webinars provide an interactive learning experience, allowing participants to ask questions and receive real-time insights from experienced traders.
• Written Educational Materials: Finflow-X offers written educational materials, including basic online forex courses that cover essential concepts and principles. These courses often include tests for self-evaluation, enabling traders to assess their understanding of the material. Additionally, a comprehensive guide to technical analysis is available through Trading Central.

Overall, Finflow-X excels in providing educational resources to its users. With a demo account, trading platform tutorials, educational videos, webinars, and written materials, traders have access to a wide range of tools to enhance their trading knowledge and skills. These educational resources cater to traders of all levels, from beginners seeking foundational knowledge to experienced traders looking to refine their strategies.

Regulation:

Finflow-X is regulated by the following financial authorities:

• Financial Conduct Authority (FCA): Finflow-X is regulated by the FCA, one of the top-tier regulatory bodies in the UK. The FCA sets strict standards and rules to ensure the protection of clients and maintain market integrity.
• Cyprus Securities and Exchange Commission (CySEC): As a regulated entity, Finflow-X operates under the supervision of CySEC, which oversees financial services companies in Cyprus.
• Securities Commission of the Bahamas: Finflow-X is regulated by the Securities Commission of the Bahamas, ensuring compliance with financial regulations and providing oversight.
• Financial Sector Conduct Authority (FSCA): Finflow-X's subsidiary, FxPro Financial Services Ltd, is authorized by the FSCA, which regulates financial services providers in South Africa.

Safety Measures:

Negative Balance Protection: Finflow-X provides negative balance protection, ensuring that clients' account balances cannot go below zero. This means that in the event of extreme market volatility or unexpected losses, clients are protected from owing more than their initial investment.

Background:

Finflow-X was established in 2006 and has a significant track record in the industry. Its long-standing presence indicates that it has successfully navigated previous financial crises, providing some level of reassurance to traders.

Limitations

Financial Information Disclosure: Finflow-X does not publicly disclose its financial information, which may make it challenging for potential clients to assess the company's financial stability and performance.

Stock Exchange Listing: Finflow-X is not listed on any stock exchanges. While this does not directly impact the safety of client funds, it may be a consideration for traders who prefer dealing with publicly listed companies.

Overall, Finflow-X demonstrates a strong commitment to safety through its regulation by top-tier authorities and the provision of negative balance protection. However, the lack of financial information disclosure and absence from stock exchanges may be perceived as limitations by some traders.