Finexo is an independent quality broker that has operated since 2003. While it may still be a young broker, they are definitely one of the most prolific brokers out there in the retail market. Let me give you some info on why you may want to trade with Finexo. First of all, Finexo is a white label of the market leader Saxo Bank and has been since 2004. Now, what does this mean for you? A white label is a company or broker that uses the same platform and operations as the ‘parent’ broker, which in this case is Saxo Bank. Saxo Bank is considered the market leader with their platform ‘SaxoTrader’. Finexo uses this technology, but where Saxo Bank is aimed at high end investors with high deposit minimums, Finexo is aimed at smaller investors as well. This is actually one of the goals of Finexo as you can read on their website. They aim to make forex trading as easy as possible.
Finexo does keep that promise, as it is indeed very easy to sign up for an account with them. I could literally start fx trading within no more than a few minutes after opening an account. Finexo follows the popular trends and allows you to depsoit and withdraw with many different options such as Paypal, Money Bookers, Neteller and more. That is a nice and convenient feature.
Finexo’s own platform is called ForexTrader and is a Saxo Bank derivative. That by itself is a guarantee for quality. SaxoTrader and ForexTrader is the best trading platform out there in my opinion. It is fast and reliable and has all the features you could ever want as a professional trader or as a beginner. They offer one click trading and tons of options to optimize your trading platform.
You also get the very convenient and functional mobile trading possibilities. You can trade from your cell phone or any computer that has a link up, you don’t need to download any software as they run a web application as well, that works surprisingly good. All of it is free of charge.
Finexo has perhaps the most available currency pairs available for trade, an impressive 50 currency pairs, including some exotic ones that you won’t see many other places. I like this added flexibility for traders. A big thumbs up for that.
Finexo has a low minimum deposit of only 25$. Of course you would probably want to deposit significantly more than that, but it is still a nice touch and allows beginners to test the waters before jumping in with the sharks.
The mini accounts have 200:1 leverage levels and spreads of 5 pip, while the classic account has 200:1 leverage and 3 pips spread. There is also the option of going for a VIP account with only 2 pip spreads.
Whats the conclusion then? Finexo is an established and respected broker that I can recommend with good conscience. I rank them at the very top of retail brokers.