FinexArena Review
When you want to enter the world of digital trading, it is essential to select a broker that offers you a convenient, comfortable and intuitive environment to get started. Everyone wants access to the most mind-blowing features, but you don’t want them to come with a catch. You would obviously want a broker that allows you to trade different types of assets from a single platform, but you don’t want it to be too complicated. The best brokers are the ones that offer a user-friendly interface and combine it with a fast and intuitive trading platform. Moreover, you don’t want the broker to make compromises in terms of security, charge you reasonable fees and offer you round the clock customer support.
All of this sounds too good to be true, but the fact is that there are brokers that do offer you comprehensive and well-rounded services. One such broker is FinexArena, a Swiss broker that was founded in 2018 by a team of experienced traders.
Introduction to FinexArena
FinexArena is an innovative trading broker that provides services to institutional and retail clients all over the world. Even though it is relatively new in the market, the broker has managed to establish a positive reputation in the market due to its exceptional services. It is amongst a few brokers that don’t just claim, but also offer transparent and fair trading conditions to their clients and give access to a wide variety of trading instruments. One of the most notable thing about FinexArena is that it is a regulated broker, which means it is strictly governed and monitored.
The broker complies with proper rules and regulations and maintains very high standards. This regulation provides an added layer of security because conflicts can be resolved with the help of the regulatory authority. As per its regulatory status, FinexArena has also implemented KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. The former verifies the identity of every trader signing up on their platform by asking for proof of ID and proof of address.
For the latter, FinexArena’s clients have to provide details about their income, along with credit card pictures, if they plan to use one with the broker. The purpose is to provide a secure trading architecture to traders so they can conduct transactions without worrying about third parties gaining access. They also maintain segregated accounts for their clients to ensure their funds remain safe and there is absolutely no misappropriation. All information shared with FinexArena is immediately encrypted to prevent it from ending up in the wrong hands. 2FA (Two Factor Authentication) is also used to keep customer accounts secure.
What else does FinexArena has to offer to its clients? Some of its notable features and functionalities are highlighted below:
Efficient and Innovative Trading Platforms
First and foremost, FinexArena has made significant effort to provide its clients with exceptional trading solutions, no matter which part of the world they are in. Their trading platforms are now recognized for their excellent functionality and trading tools. Both newbies and experienced traders can take advantage of the trading charts, signals and indicators that are provided to help them in making substantial returns.
FinexArena is fully aware of the importance of a trading platform and so they have gone with the best in the market i.e. the MetaTrader 4. It is a favorite of traders worldwide due to the impressive functionalities it has to offer. FinexArena allows its clients to use the WebTrader version of the MT4, which can easily be accessed through the browser of any device. It requires no downloads or installations and is equipped with everything you need in one place. Other than the web-based option, the broker has also incorporated mobile trading platforms.
After all, trading on the go has become a popular trend in and FinexArena has kept up with it. Therefore, you can easily find both Android and iOS solutions available with the broker. These platforms are also equipped with powerful features and tools that can enhance trading and make it easier to execute your trades. You can get access to real-time quotes, technical indicators, charting tools, intuitive and responsive user-interface, multilingual customer support and more.
Impressive Leverage
One of the most vital features of any broker is the leverage they offer because this can have an impact on your profits and losses and your market position. When a broker offers you good leverage, it gives you the opportunity of earning more with a small investment. When it comes to leverage, FinexArena has offers it from 1:1 to 1:1000, depending on the account and the asset you are trading. With this leverage, you only have to pay 1% upfront of the starting price and still enjoy a high trading power.
Impressive Asset Availability
Another area where FinexArena has done a really good job is the number of assets they have to offer to their clients. While you can sign up with several brokers to trade different financial products, but it can become a big hassle to manage multiple accounts. Eventually, you will either miss out on opportunities or not be able to execute trades quickly, which can result in losses. The good thing about FinexArena is that it provides its clients with the opportunity of trading more than 200 instruments from one place. You can trade shares, forex currency pairs, indices, commodities and various cryptocurrencies as well. The broker enables you to trade the best in every market, which helps traders in diversifying their investment portfolio as per their preference.
Different Account Options for Accommodating Clients
Depending on the needs and skills of traders, FinexArena has come up with several account types to choose from. Each account option comes with a different set of tools and features to suit the traders for whom it has been designed. One feature is common in all account types; responsive and prompt customer support from FinexArena in case there is a problem. The account options include:
· Silver: This account type has been created with beginners in mind so it offers the most basic features. Starting with a deposit requirement of $250, FinexArena offers interest of 1.5% per month under the Silver account. A personal account manager is provided, along with 20% investment bonus. Traders can also consult with a market analyst.
· Gold: For traders with a little bit of experience, FinexArena has come up with the Gold account. With a 50% bonus, you can open this account by depositing a minimum of $10,000. It offers an extended range of trading signals and includes an executive account manager. The interest rate is also increased to 2.5% and five sessions with a market analysts are available for broadening and enhancing your knowledge.
· Platinum: If you have a high level of expertise, FinexArena has designed this account option for you. The minimum deposit for this account option is set at $50,000 and it gives a bonus of 100%, which is downright incredible. In addition, your interest rate is also increased to 3.75% because of the high deposit cap. You can get full trading signals and enjoy unlimited sessions with your market analyst and account manager to make the best trading decisions.
· Diamond: The last account option that FinexArena has developed is the Diamond account and this is aimed at professional traders. This is obvious from the minimum deposit requirement of $250,000 and the bonus is increased to 125%. The internet rate is the same as that of the Platinum account, but the payments can now be withdrawn on a monthly basis.
Numerous Payment Methods
FinexArena wants to provide its traders with an unmatched trading experience with a minimal amount of fuss and easy access to all services. In order to accomplish this, the broker has added numerous payment solutions to its trading platform to help people in adding funds and withdrawing them when required. There are several options that you can explore that come with fast deposits and withdrawals. You have the option of using bank wire transfers credit and debit cards, including both Visa and MasterCard, and online wallets.
The best thing about these payment methods is that they let you deposit and withdraw funds completely free of charge. You don’t have to pay any fee for adding funds to your FinexArena account or for withdrawing them. However, the time taken for deposits and withdrawals will depend on the card issuers and financial institutions. Therefore, wire transfers and cards may take a little bit longer to process your transactions. Online wallets are the quickest option when you want to add funds or withdraw them. Also, the minimum deposit requirement for these methods is same i.e. 300 EUR/USD, but the withdrawal amount depends on the contract you select and the account you open.
Variety of Trading Tools
Anyone who has spent some time in the trading market knows the importance of trading tools. While experience and skills are important, having these tools with you can make a world of difference. FinexArena is perfectly aware of the role these tools can play during trading and how they can impact your bottom line. Therefore, the broker has added some of the most useful tools to help their clients in making the best possible decisions. Some of the top tools you will find on FinexArena are:
· Profit Calculator
When traders have multiple trading positions open and close them routinely to open new ones, it can become difficult to keep track of your trading activity. This is where FinexArena’s profit calculator can come in handy. This calculator can give them insights into the results they can expect and enable them to make profitable trading decisions. This tool can give profit estimates and even help you estimate margins and trading volumes while giving you real-time updates.
· Overnight Swaps
Overnight swaps are crucial for keeping a position on the market, depending on whether you are trading long or short. This tool is used by traders over a period of time for purchasing a security or an asset. These positions often remain open for a specific time frame and if the position is to be left open for even longer, the trader receives interest. This depends on the price of the security or asset and also on the bank policies pertaining to the site. As far as FinexArena is concerned, they determine overnight swaps on the basis of the trading activity level of the account.
· Margin Requirements
These margin requirements provide details about the amount of cash that the buyer will be required to pay for opening a position on a security or asset class. These requirements vary for every broker and can depend on their policies. As far as FinexArena is concerned, their margin requirements and policies are in accordance with those of the Dukascopy Bank S.A. With this tool, traders are able to figure out the minimum equity requirements for a position and figure out if they can open it.
Active Customer Support
There is no doubt that FinexArena has an impressive trading tools range, but all other features are worthless if there is no assistance in case you are stuck. The importance of customer support cannot be overstated and FinexArena has ensured that its clients don’t have cause to complain in this regard. Their customer support team works round the clock for providing the best services to their clientele. They have a highly qualified and responsive support staff. You can reach out to them through the Contact Us section on their website and they will get back to you right away for solving the problem.
Bottom Line
FinexArena has earned a good and strong reputation in the market due to its huge range of asset offerings, its user-friendly and innovative interface, active customer support and the leverage it has to offer. The educational resources are also worth noting as are the trading tools that can simplify the trading process. The broker is also quite accommodating and this makes it a good choice for a smooth and profitable trading experience.