Overview of Finaxontrade
Finaxontrade is a cryptocurrency trading platform that was founded in 2017. The company is located in England and is not regulated by any major financial regulators. Finaxontrade offers a variety of trading platforms, including a web-based platform and a mobile platform. Traders can choose from a variety of account types, including a starter account, a basic account, a bronze account, a premium account, and a gold account. Finaxontrade offers a demo account so that traders can test the platform and practice trading with virtual funds before risking their own money. Finaxontrade also offers a variety of educational resources, such as webinars, trading guides, video tutorials, and an FAQ section.
Pros and Cons
Pros
Wide range of tradable assets: Finaxontrade offers a wide range of tradable assets, including forex, cryptocurrency, commodities, indices, and shares. This gives traders a lot of flexibility to choose the assets they want to trade.
Competitive spreads and commissions: Finaxontrade offers competitive spreads and commissions. This means that traders can keep more of their profits.
User-friendly trading platform: Finaxontrade's trading platform is easy to use and navigate. This makes it a good choice for traders of all levels of experience.
Demo account available: Finaxontrade offers a demo account so that traders can test the platform and practice trading with virtual funds before risking their own money.
Variety of educational resources: Finaxontrade offers a variety of educational resources, such as webinars, trading guides, video tutorials, and an FAQ section. This can be helpful for traders who are new to trading or who want to learn more about specific trading topics.
Cons
Unregulated: Finaxontrade is not regulated by any major financial regulators. This means that there is no guarantee that Finaxontrade is a reputable company or that your funds are safe.
No customer support phone number: Finaxontrade only offers customer support via live chat and email. This can be inconvenient for traders who need to speak to a customer support representative on the phone.
High minimum deposit: Finaxontrade has a high minimum deposit requirement of $300. This can make it difficult for new traders or traders with limited funds to start trading with Finaxontrade.
No negative balance protection: Finaxontrade does not offer negative balance protection. This means that traders can lose more money than they have in their account.
Regulatory Status
Finaxontrade is not regulated by any major financial regulators, such as the Financial Conduct Authority (FCA). This means that Finaxontrade is not subject to the same level of oversight as regulated brokers.
There are a few reasons why Finaxontrade may not be regulated. One possibility is that Finaxontrade is a new broker and has not yet had the time to apply for a regulatory license. Another possibility is that Finaxontrade is not located in a country that has strict financial regulations.
Whatever the reason, it is important to be aware that Finaxontrade is an unregulated broker. This means that there is no guarantee that Finaxontrade is a reputable company or that your funds are safe.
Market Instruments
Finaxontrade is a financial services company that offers a variety of products for trading and investing. The products of Finaxontrade include:
Forex: Trade currencies on the foreign exchange market. This allows you to speculate on the value of different currencies and potentially profit from changes in exchange rates.
Crude oil WTI: Trade light sweet crude oil. This allows you to speculate on the price of crude oil and potentially profit from changes in supply and demand.
Binary options: Trade contracts that pay out a fixed amount if the underlying asset price moves above or below a certain level at a predetermined time. This allows you to speculate on the direction of an asset price without having to own the asset itself.
Nvidia corp.: Trade shares of Nvidia Corporation, a technology company that designs graphics processing units (GPUs). This allows you to invest in a company that is at the forefront of the development of artificial intelligence and machine learning.
ETF: Trade exchange-traded funds (ETFs), which are baskets of securities that track a particular index or market sector. This allows you to invest in a diversified portfolio of assets without having to pick individual stocks.
Gold: Trade gold, a precious metal that is used as a currency and investment. This allows you to hedge against inflation and other economic risks.
It is important to note that all trading involves risk, and traders should carefully consider their financial situation and investment goals before trading any asset.
Account Types
Finaxontrade offers five types of trading accounts:
Starter account
The Starter account is the most basic account type offered by the cryptocurrency platform. It is designed for beginners who are new to cryptocurrency trading. The Starter account includes all of the essential features, such as 24/7 live video chat support, demo trading, and a copy trading tool. It also includes a 5% deposit bonus.
Basic account
The Basic account is the next step up from the Starter account. It is designed for traders who have some experience with cryptocurrency trading but are not yet ready for a more advanced account. The Basic account includes all of the features of the Starter account, plus a 10% deposit bonus.
Bronze account
The Bronze account is designed for more experienced traders who are looking for more features and benefits. The Bronze account includes all of the features of the Basic account, plus a 15% deposit bonus, an E/P broker, and a pro guide.
Premium account
The Premium account is the most advanced account type offered by the cryptocurrency platform. It is designed for experienced traders who are looking for the best possible trading experience. The Premium account includes all of the features of the Bronze account, plus a 20% deposit bonus, an executive broker, and an executive guide.
Gold account
The Gold account is the most exclusive account type offered by the cryptocurrency platform. It is designed for high-net-worth individuals and institutional investors. The Gold account includes all of the features of the Premium account, plus a 50% deposit bonus.
Which account type is right for you depends on your individual needs and goals. If you are a beginner, the Starter account is a good place to start. If you have some experience with cryptocurrency trading, the Basic or Bronze account may be a better option for you. If you are an experienced trader who is looking for the best possible trading experience, the Premium or Gold account may be the right choice for you.
How to Open an Account？
To open an account with Finaxontrade, you can follow these steps:
Go to the Finaxontrade website and click on the “Register” button.
Enter your personal information, such as your name, email address, and phone number.
Create a password and choose a security question.
Select the account type that you want to open.
Read and agree to the Finaxontrade Terms of Service and Privacy Policy.
Click on the “Register” button to complete your registration.
Leverage
Finaxontrade offers the following default leverage:
This means that if you have less than $5,000 in your trading account, you can use leverage of up to 1000:1 to control a position worth $1 million. However, if you have more than $50,000 in your trading account, your leverage is limited to 100:1 for FX and 200:1 for CFDs.
Spreads & Commissions
Finaxontrade offers variable spreads on all instruments. This means that the spread can vary depending on the liquidity of the market and the time of day. However, Finaxontrade does not charge any commission on trades.
Trading Platform
Finaxontrade's trading platform is an award-winning investment platform, known for being recognized and appreciated by the most respected industry experts. The Finaxontrade platform is mobile-enabled, allowing users to carry out transactions on various investments including Crypto, Forex, ETF's anytime and anywhere. Moreover, it boasts a user-friendly interface which is designed and customized according to the needs of the user, enhancing the overall trading experience and facilitating ease of use.
Deposit & Withdrawal
Finaxontrade offers a variety of payment methods, including:
Bank transfer: Bank transfers are the most common payment method used by Finaxontrade clients. Bank transfers are typically processed within 1-3 business days.
Credit/debit card: Finaxontrade accepts credit/debit cards from Visa, Mastercard, and Maestro. Credit/debit card deposits are processed instantly.
E-wallets: Finaxontrade accepts deposits from a variety of e-wallets, including Skrill, Neteller, and PayPal. E-wallet deposits are processed instantly.
Finaxontrade charges no fees for deposits or withdrawals. However, your bank or e-wallet provider may charge fees for their services.
Customer Support
Finaxontrade offers 24/7 customer support via live chat, email, and phone. Customer support representatives are available to answer questions about the Finaxontrade trading platform, account types, spreads and commissions, and other trading-related topics.
Here are some additional details about Finaxontrade's customer support:
Live chat: Finaxontrade's live chat support is the fastest way to get help. Customer support representatives are typically available to answer questions within a few minutes.
Email: Finaxontrade's email support is also responsive. Customer support representatives typically respond to emails within 24 hours.
Phone: Finaxontrade's phone support is available during regular business hours. Customer support representatives are typically available to answer questions within a few minutes.
Overall, Finaxontrade's customer support is generally responsive and helpful. However, it is important to note that there have been some complaints about customer support representatives not being knowledgeable or experienced enough to answer complex questions.
Educational Resources
Finaxontrade offers a variety of educational resources to help traders of all levels of experience learn about trading and the financial markets. These resources include:
Webinars: Finaxontrade offers live webinars on a variety of trading topics, such as technical analysis, fundamental analysis, and risk management. Webinars are typically hosted by experienced traders and analysts.
Trading guides: Finaxontrade offers a variety of trading guides on a variety of trading topics, such as forex trading, cryptocurrency trading, and stock trading. Trading guides are typically comprehensive and cover everything traders need to know about a particular topic.
Video tutorials: Finaxontrade offers a variety of video tutorials on a variety of trading topics, such as how to use the trading platform, how to place orders, and how to read charts. Video tutorials are typically short and easy to understand.
FAQ: Finaxontrade offers a comprehensive FAQ section that answers common questions about trading, the trading platform, and account types.
Finaxontrade's educational resources are generally well-written and informative. However, it is important to note that Finaxontrade is a broker, so their educational resources may be biased towards their products and services.
Conclusion
Finaxontrade, a cryptocurrency trading platform, presents both advantages and disadvantages. On the positive side, it offers a diverse range of tradable assets, competitive spreads, a user-friendly trading platform, a demo account, and educational resources.
However, there are significant drawbacks, including being unregulated, lacking a customer support phone number, imposing a high minimum deposit requirement, and not providing negative balance protection. Traders should carefully weigh these pros and cons before considering Finaxontrade, with a special emphasis on its lack of regulation, which poses risks to fund security. It's advisable to seek advice from a financial advisor before trading with Finaxontrade.
FAQs
Q: Is Finaxontrade regulated？
A: No, Finaxontrade is not regulated by any major financial regulators.
Q: What are the advantages of trading with Finaxontrade？
A: Finaxontrade offers a wide range of tradable assets, competitive spreads and commissions, a user-friendly trading platform, a demo account, and a variety of educational resources.
Q: What are the disadvantages of trading with Finaxontrade？
A: Finaxontrade is unregulated, does not offer a customer support phone number, has a high minimum deposit requirement, and does not offer negative balance protection.
Q: Is Finaxontrade a good choice for beginners？
A: Finaxontrade may not be the best choice for beginners due to its high minimum deposit requirement and lack of negative balance protection.
Q: Should I trade with Finaxontrade？
A: Whether or not you should trade with Finaxontrade is a personal decision. You should carefully weigh the pros and cons before making a decision.
