Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

FINOWIZ

Seychelles|2-5 years|
Regulated in United States|Crypto-Licence|MT5 Full License|Regional Brokers|

https://finowiz.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
FinowizFintech-Live MT5
Server Location United Kingdom

Contact

+971 44475716
support@finowiz.com
https://finowiz.com
House of Francis, Room 303, Ile Du Port, Mahe, Seychelles

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+971 44475716

Broker Information

More

Company Name

Finowiz Fintech Limited

Company Abbreviation

FINOWIZ

Platform registered country and region

Seychelles

Company website
Facebook
Instagram
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Verification

Users who viewed FINOWIZ also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

FXCM

9.46
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

AUS GLOBAL

7.54
Score
5-10 yearsRegulated in CyprusMarket Making(MM)MT4 Full License
Official website

KCM Trade

7.74
Score
5-10 yearsStraight Through Processing(STP)MT4 Full License
Official website

FINOWIZ · Company Summary

Aspect Information
Company Name Finowiz Markets Incorporated
Regulation No Regulation
Minimum Deposit $10
Tradable Assets Forex, Indices, Metals
Account Types Micro, Standard, ECN, ECN Pro
Demo Account Not specified
Islamic Account Swap-free trading available
Maximum Leverage Up to 1:1000
Spreads Mini Account: from 3 pips
ECN Account: from 2 pips
ECN Account: from 1 pip
ECN Pro+ Commission Account: Raw spreads
Trading Platforms MT4/MT5
Payment Methods Not specified
Customer Support 24/7 availability, phone, email, social media

General Information

Finowiz, a trading name of Finowiz Fintech Limited, is a forex broker and financial investment management company. FINOWIZ provides different account types to cater to the diverse needs of traders. These account types include the Micro, Standard, ECN, and ECN Pro.

The trading platform offered by FINOWIZ is the MT5 platform, which is available on various devices, including Android, desktop, iPad, iPhone, and web terminal. The platform offers advanced features and tools, allowing traders to analyze the market and execute trades effectively. However, the lack of specific details about customization options, order execution speeds, and security measures raises questions about the platform's reliability and user experience.

Customer support is available 24/7, providing assistance to traders whenever needed. The platform offers multiple channels for communication, including a telephone number and an email address. They also maintain a presence on various social media platforms. However, the effectiveness and responsiveness of customer support cannot be fully assessed based on the limited information available.

Finowiz's homepage

Pros & Cons

Finowiz has some notable pros and cons that traders should consider before engaging with the platform. On the positive side, Finowiz offers a wide range of account options to suit different trading preferences, including Micro, Standard, ECN, and ECN Pro accounts. These account types cater to traders with varying budgets and trading styles. Additionally, the availability of the MT5 trading platform on various devices for traders to access the markets anytime, anywhere. The platform also offers 24/7 customer support, ensuring assistance is readily available.

On the downside, the lack of regulation is a significant concern, as Finowiz is not regulated by any authorized regulatory agency. This raises questions about the platform's transparency and adherence to industry standards. Limited information about additional features and services, as well as the unclear status of fees and charges, further hinder a comprehensive evaluation of the platform.

Traders should carefully consider these pros and cons before deciding to engage with Finowiz.

Pros Cons
Wide range of account options Lack of regulation
Availability of MT5 platform Limited information about additional features and services
24/7 customer support Unclear status of fees and charges
Low minimum deposit requirements Limited transparency about regulatory status
Swap-free trading option Commission fees in ECN and ECN Pro accounts
Leverage up to 1:500 Limited details about additional trading tools or resources
Limited trading assets

Is FINOWIZ Legit?

Based on the information provided, FINOWIZ FINTECH LIMITED is not regulated by any authorized regulatory agency. The National Futures Association (NFA) has classified it as unauthorized, and the official regulatory status is stated as unauthorized. The broker exceeds the business scope regulated by the United States NFA. The warning advises individuals to be aware of the associated risks. It is recommended to exercise caution when dealing with an unregulated entity like FINOWIZ FINTECH LIMITED.

Unauthorized NFA license

Market Instruments

FOREX: FINOWIZ offers a wide range of currency pairs for trading. Currency pairs represent the exchange rate between two different currencies. Traders can speculate on the price movements of these currency pairs and take advantage of fluctuations in the foreign exchange market.

Indices: FINOWIZ provides trading opportunities in various indices. Indices represent a basket of stocks from a particular stock exchange or sector. Traders can speculate on the overall performance of an index, rather than trading individual stocks. This allows for diversification and exposure to a broader market.

METALS: FINOWIZ offers trading in metals, including gold, silver, and other precious metals. Trading metals allows investors to take positions on the price movements of these commodities. Metals are considered as a safe haven during times of economic uncertainty and can be used as a hedge against inflation.

Market Instruments

Account Types

When considering a forex trading platform like FINOWIZ, it is essential to understand the different account types available. Each account type caters to specific trading preferences and comes with its own set of advantages and disadvantages. In this comparison, we will examine the Micro, Standard, ECN, and ECN Pro account types offered by FINOWIZ.

Micro Account Type:

The Micro account type offered by FINOWIZ has a minimum deposit requirement of $10. With spreads starting from 2.0 pips, this account type does not charge any commissions. Traders can leverage up to 1:500 and enjoy swap-free trading. Market execution is used for order execution in this account type.

Standard Account Type:

For those looking for a more comprehensive trading experience, the Standard account type may be suitable. It requires a minimum deposit of $500 and offers spreads starting from 1.4 pips. Similar to the Micro account, there are no commissions charged. Traders can leverage up to 1:500 and benefit from swap-free trading. Market execution is used for order execution in this account type.

ECN Account Type:

The ECN account type is designed for traders who prefer direct market access and low spreads. It requires a minimum deposit of $1500 and provides spreads starting from 0 pips. However, there is a commission of $10 per trade. Traders can leverage up to 1:500 and enjoy swap-free trading. Market execution is used for order execution in this account type.

ECN Pro Account Type:

The ECN Pro account type is aimed at experienced traders and offers the tightest spreads among the account types. It requires a minimum deposit of $2500 and provides spreads starting from 0 pips. The commission per trade is reduced to $7. Traders can leverage up to 1:500 and enjoy swap-free trading. Market execution is used for order execution in this account type.

Account comparison

How to Open an Account?

To open an account with FINOWIZ, you can follow these steps:

1. Visit the FINOWIZ website: Go to the official FINOWIZ website using your preferred web browser.

2. Navigate to the account registration page: Look for a “Register” or “Open an Account” button on the website's homepage. Typically, it is located in the top-right corner or in a prominent section of the website.

3. Click on ‘Register’: Once you find the appropriate button, click on it to proceed with the account registration process.

4. Fill out the registration form: You will be redirected to a registration form that requires you to provide personal information. This includes your full name, email address, and phone number. Fill in the required fields accurately and ensure that all information provided is correct.

Fill out the registration form

5. Agree to the terms and conditions: Carefully review the terms and conditions or user agreement presented by FINOWIZ. If you agree with the terms, tick the checkbox or click on the provided acknowledgement button to proceed.

6. Submit the registration form: After completing the registration form and agreeing to the terms and conditions, click on the “Submit” or “Register” button to submit your account registration request.

7. Verify your email (if required): Depending on FINOWIZ's account verification process, you may receive an email containing a verification link. Open the email and click on the verification link to confirm your email address.

8. Complete additional verification (if required): In some cases, FINOWIZ may require additional verification steps to ensure compliance with regulatory requirements. This may involve submitting identification documents such as a passport or driver's license, proof of address, or other requested documents.

9. Fund your account: Once your account is successfully registered and verified, you can proceed to fund your account with the required minimum deposit. FINOWIZ typically provides various payment methods such as bank transfers, credit/debit cards, or electronic payment systems. Choose the most convenient option for you and follow the provided instructions to deposit funds into your account.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Mini account can enjoy the maximum leverage of 1:1000, while the Premium or ECN account with leverage of 1:400 and the ECN Pro+ Commission account experience leverage of 1:200. 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 and commissions play a crucial role in determining the overall trading costs for traders. FINOWIZ offers different types of accounts, and the spreads and commissions vary depending on the account type chosen.

The Mini account, which is one of the account options, features spreads starting from up to 3 pips. This means that traders using the Mini account may experience wider spreads compared to other account types. On the other hand, the ECN account provides clients with spreads starting from 2 pips, offering slightly tighter spreads compared to the Mini account.

For those who opt for the ECN account with spreads from 1 pip, they can enjoy even tighter spreads, which may be more favorable for certain trading strategies. However, it's important to note that only the ECN Pro+ Commission account allows traders to benefit from raw spreads.

In terms of commissions, FINOWIZ charges a commission of $8 per standard lot for trades executed on the ECN Pro+ Commission account. This commission structure is directly applicable only to this specific account type. The other account types do not involve direct commissions.

Pros Cons
Different account types to suit preferences Wider spreads on the Mini account
Relatively tighter spreads on ECN account Traders on non-ECN Pro+ Commission account have no commissions directly applied
ECN Pro+ Commission account offers raw spreads

Trading Platform

When it comes to trading platforms available,Finowiz gives traders the worlds most trusted and popular MeatTarder5 trading platform. MT5 is known as the most successful, efficient, and competent forex trading software, providing advanced technical analysis tools, automated trading functions (EA) and mobile applications, as well as a user-friendly interface, allowing traders to view their orders, transactions, account details, and keep abreast of the latest market conditions.

MT5

Deposit & Withdrawal

When it comes to depositing and withdrawing funds with FINOWIZ, the minimum deposit requirement is quite low, starting at just $10. However, specific information about the available payment methods for deposits and withdrawals is scarce and not easily accessible online.

Bonuses

Finowiz claims to offer a 50% on-deposit bonus, yet we cannot be sure if the bonus is really available without any condition.

Customer Support

Finowizs customer support can be reached by telephone: +1234-529-2544, email: support@finowiz.com. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Instagram and YouTube. Company address: 130 Old St. London, EC1V 9BD, England.

Conclusion

In conclusion, FINOWIZ has several advantages and disadvantages to consider. On the positive side, the broker offers a range of account types to cater to different trading preferences, low minimum deposit requirements, and access to a variety of trading instruments, including forex, indices, and metals. Additionally, their customer support is available 24/7, and they provide a variety of trading platforms.

However, there are significant drawbacks, such as the lack of regulation from authorized regulatory agencies, limited transparency regarding additional fees or charges, and a lack of information on certain features and services. Traders should exercise caution when dealing with an unregulated entity like FINOWIZ and carefully consider the associated risks before proceeding.

FAQs

Q: Is FINOWIZ regulated?

A: Based on the information available, FINOWIZ FINTECH LIMITED is not regulated by any authorized regulatory agency. The broker has been classified as unauthorized by the National Futures Association (NFA), and caution is advised when dealing with an unregulated entity.

Q: What trading instruments are available on FINOWIZ?

A: FINOWIZ offers trading in forex currency pairs, indices, and metals such as gold and silver.

Q: What are the different account types offered by FINOWIZ?

A: FINOWIZ provides various account types, including Micro, Standard, ECN, and ECN Pro accounts.

Q: What leverage is offered by FINOWIZ?

A: The maximum leverage ratios vary depending on the account type. The Mini account offers a leverage of up to 1:1000, the Premium or ECN account provides a leverage of 1:400, and the ECN Pro+ Commission account offers a leverage of 1:200.

Q: What are the spreads and commissions on FINOWIZ?

A: The spreads and commissions vary based on the account type. The Mini account has spreads starting from up to 3 pips, while the ECN account offers spreads starting from 2 pips. The ECN account with spreads from 1 pip provides tighter spreads, and the ECN Pro+ Commission account allows traders to benefit from raw spreads. The ECN Pro+ Commission account incurs a commission of $8 per standard lot.

Q: What trading platforms does FINOWIZ offer?

A: FINOWIZ offers the MT5 trading platform, which is available on various devices including Android, desktop, iPad, iPhone, and web terminal. The platform provides advanced features, multiple timeframes, technical indicators, and the ability to trade anytime, anywhere.

News

Finowiz: Is it an ideal choice for Traders?

NewsFinowiz: Is it an ideal choice for Traders?

2024-01-03 15:20

Finowiz, a trading name of Finowiz Fintech Limited, is allegedly a UK-based forex broker and financial investment management company that provides its clients with the industry-standard MetaTrader5 trading platform, flexible leverage up to 1:1000, variable spreads on different kinds of tradable assets, as well as a choice of four different account types.

WikiFX
2024-01-03 15:20
News
Finowiz: Is it an ideal choice for Traders?

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

14

Comments

Write a review

Maria7959
0-3months
This broker was recommended to me by a friend. I have been working with this broker for more than six months, no problems have arisen, payments within 1-2 minutes. I will continue to work with them. Good job!
2024-03-14 16:27
Reply
0
0
jac3256
3-6months
very good reliable broker i would say as i’ve been trading for last 2 years. very nice customer support and fast withdrawal best regards Nikhil
2023-12-16 15:12
Reply
0
0
Asif3544
3-6months
I had a positive experience with finowiz Fintach limitedTheir platform is user-friendly, offering a variety of trading tools and resources. The execution speed is impressive, and customer support is prompt and helpful. I appreciate their transparent fee structure and competitive spreads, making it a reliable choice for forex trading. Overall, I highly recommend finowiz Fintach limitedfor both beginners and experienced traders.
2023-12-16 14:49
Reply
0
0
Gaurav4812
3-6months
Best trading company
2023-12-16 14:09
Reply
0
0
Tariq1946
3-6months
Five star rating broker. Ultra low spreads Instant deposit or withdrawl Aur क्या चाहिए
2023-12-15 19:48
Reply
0
1
Tn BHARTIYA
3-6months
Love it this broker guy
2023-12-15 19:34
Reply
0
0
Anjali 6525
3-6months
Thnx
2023-12-15 19:29
Reply
0
0
Anjali 6525
3-6months
Best education and support from team
2023-12-15 19:26
Reply
0
0
Sonu80
3-6months
Very nice staff, supportive staff and authentic broker... With smooth withdrawal deposit services... Best forex broker in India... Best ib commission
2023-12-15 19:14
Reply
0
0
Avondale McAllister
more than one year
While considering FINOWIZ, the advertised 50% on-deposit bonus caught my attention. Nonetheless, there's uncertainty about the actual availability of this bonus without any conditions attached. It would be beneficial if FINOWIZ could provide clearer terms and conditions for bonuses, ensuring users have a more transparent understanding of what is offered. The lack of clarity on bonus conditions creates a level of hesitation for potential users like myself.
2023-12-06 10:42
Reply
0
0
FX1527880527
more than one year
Overall, my experience with FINOWIZ has been satisfactory, particularly in terms of the deposit and withdrawal process. The low minimum deposit requirement of $10 is a plus for those starting with smaller amounts. However, I would appreciate more transparency regarding the available payment methods, as the information seems to be somewhat elusive online. Clarity in this aspect would enhance the user experience.
2023-12-05 13:46
Reply
0
0
FX1281808564
more than one year
I am changing my rating to 0 stars from previous 5 stars. During my second-time trading here, this broker closed my trading accounts for no reason. After waiting for a long time, they still didn’t give me any explanation. However, my first trading here was good though.
2023-02-23 10:21
Reply
0
0
Big Pang
more than one year
Avoid them! If you make money, they will block your account and never pay any profits. They will even blackmail you to stay quiet else they won't give you your initial deposit.
2022-12-05 12:25
Reply
0
0
何家小子
more than one year
I have to say that Finowiz is an excellent platform to trade with, tight spreads, smooth deposits and withdrawals. I lost a small sum at first, but my account manager John gave me some useful tips, so far, I have been making profits…
2022-11-30 17:06
Reply
0
0
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com