FinexArena Review – Is FinexArena Scam or Legit?
FinexArena Broker Rating
As an amateur or beginner in the digital trading industry, it is critical to choose a highly functional trading platform convenient, comfortable, and intuitive. You need a platform that allows you to explore its outstanding features with few clicks. It is great when you find a trading platform that offers several trading instruments on the same interface. Would it not be great to diversify your trade from cryptocurrency to forex and other tradable assets in the financial market.
Several trading platforms claim to provide these unique trading services, but what you need is a client-oriented platform designed to reduce processing time whenever you carry out transactions. An ideal broker is one that offers you protection from cyber-attacks and guarantees the safety of your funds. There are a plethora of things you need to know about a standard trading platform before you embark on your trading journey.
We shall be reviewing one of the trading platforms that claim to offer traders an exceptional trading experience. FinexArena trading is a trading platform that provides diversity and uniqueness to their clients, according to the broker. What exactly is FinexArena, and how valid are their claims about offering flawless trading services to traders in the financial market? Is this broker legit? Can you trust the FinexArena trading platform with your funds? We shall answer these questions as we explore the features of the FinexArena trading platform.
What Is FinexArena?
FinexArena is regarded as an innovative foreign exchange broker that provides access to retail trading and institutional conditions for a global audience. The FinexArena trading platform is among the few exchange companies in the financial market that implements fair and unbiased trading conditions for different financial assets such as indices, shares, commodities, and forex. The exchange was created in 2018 as a direct response to the growing demand for better leveraging options and a secure trading environment for cryptocurrencies and other digital assets.
FinexArena is a member of the industry’s regulatory body. It maintains strict governance to ensure that trading platforms in the financial market abide by the rules and regulation of the financial market. The exchange is said to be compliant with industry standards and seeks to resolve conflicts that arise between traders and the broker. The company aims to achieve this by ensuring that all its operations are transparent and audited by the supervising regulatory body. The platform claims to be strict in its implementation of policies without any subversion of the right financial ethics.
FinexArena is a trading platform that is said to be in full compliance with Anti-Money-Laundering policies that have been enacted to eliminate cases of money laundering. The broker uses an advanced algorithm integrated into the platform’s architecture to prevent theft and cyber-attack.
Traders on the platform must complete the “Know Your Customer” process for improved asset protection and reduction of security issues.FinexArena offers over 200 financial instruments that traders can use to carry out trading activities. These financial assets have as much 69.1 million orders and over USD 1.82 trillion worth of trading volumes. The broker also offers several outstanding features that provide an avenue for traders to cope with issues of asset volatility or market liquidity. The trading platform provides users with a seamless transition from one part of the platform to another.
Features of FinexArena
Apart from the fact that forex is regarded as one of the world’s most liquid markets, forex trading has evolved in the past decades. It is a thriving financial instrument with the potential of generating income for clients. However, that notwithstanding, there are several other trading instruments with high revenue prospects for traders in the financial market.
It is worthy of note that every investor has a specific reason for investing in the blockchain industry. With an increasing number of traders in the industry, there is a need to meet the demands of both investors and traders. Hence, the reason why FinexArena has launched a platform that offers various unique features. The features of FinexArena.com includes the following:
Efficient Trading Platform
FinexArena is designed to work with other reliable trading platforms to offer users an exceptional trading experience from different locations across the globe. These platforms do not just provide top-notch, but they are said to be highly functional. Charts, devices, and trading signals provided by these trading platforms are used by both new and experienced traders to make financial gains. The trading platforms available on FinexArena include the following:
Meta Trader 4
Meta Trader 4 is one trading platform that is appreciated by traders, institutional and retail investors. The features and functionality of this trading platform make it stand out from other trading platforms in the financial market. The Meta Trader 4 application may be downloaded from the app store of different smartphones because it is compatible with Android, Windows, and Linux enabled phones. According to MetaQuotes, the developers of Meta Trader 4, You may find over 700 reliable brokers that are integrated into the Meta Trader 4 trading platform.
Android smartphones may be capable of accessing the Android Trader platform, which may be used to carry out trading activities. The Android Trader platform allows users to perform technical analysis using about thirty different types of technical indicators and a variety of charts.
iPhone and iPad trader
Users of iPhone and iPad smartphones are not left out of the trading equation, because FinexArena has incorporated the iPhone and iPad trader platform for traders to trade on different financial instruments via these devices. You may have access to a variety of features and trading tools that offer you efficient and seamless trading sessions. Some of the features you may find on the platform includes real-time quotes, technical indicators, multilingual support, intuitive interface, etc.
Deposits and withdrawals
FinexArena offers traders an unrivaled and exceptional trading experience with unrestricted access to its trade deals. The broker has integrated a variety of payment solutions and a digital cashier into the exchange network for more efficient and transparent execution of transactions. FinexArez may have also provided traders with a variety of withdrawal options, both fast and secure.
Clients may be able to use wallets, withdrawal, and credit cards for carrying out transactions on the platform. Deposits made via Visa may take about 30 mins to be reflected in your account, while deposits made using wire transfer have a processing time of about 2-15 business days.
In the aspect of withdrawals, it may take about 2-15 working days when withdrawals are made using Visa or MasterCard. At the same time, the same duration may be experienced as the processing time for wire transfer, depending on the bank.
Due to the impact of profit and loss on traders in the financial market, leverage is regarded as one of the most outstanding features that a trading platform can offer to its clients. Good leverage allows traders to earn more money while trading on the platform, especially those involved in advanced crypto trading. FinexArena offers leverage that ranges between 1 to 1000, depending on the available options you have. The leverage allows you to make a 1 percent upfront payment of your trading price while also increasing your trading power.
Leverage allows you to increase your profits. Let us take, for example, that you are investing in a financial asset that is priced at $100 for each piece. You can pay for 1000 pieces of the asset using a leverage of about 1:1000. In reality, what this means is that for every $1 available in your account, you may get $1000 to exchange for it, which may marginally increase your earnings in a thousandfold.
Leveraged trading may be seen as a sword with a double edge that can be counter-productive if the trading goes south. Leverage is heavily dependent on market movement. For inexperienced traders who find themselves in a volatile trading environment, the outcome may not be sweet. Therefore, you must view the leverage margin to weigh your options before deciding to take the risk.
Different Account Types
Based on the experience level and the needs of each trader, FinexArena offers three distinctive accounts. Each of these accounts is unique in their way, and they have several tools and features which are suited for each account type. Here are the three account types available for traders on the FinexaArena trading platform:
- Silver Account with a 20% Bonus Offer
The basic account that you may open on the FinexArena trading platform is the silver account. The least brokerage limit that may be deposited is $250. However, opening a basic investment account may cost about $50,000. The basic account offers an interest rate of 1.5% to traders each month, and you may get a 20% bonus for 24 months. Interest withdrawals are only applicable to owners of investment accounts, which you can only trigger once a year.
The trading signals available on this account are less. The features that you can access with this account are small compared to other account types, but they are adequate to enhance your investment opportunities. Basic or silver account holders may have access to a personal manager and a market analyst. You may be able to cancel the payment of interest once every year.
- Gold Account with a 50% Bonus Offer
When you open a gold account, you may have a higher range of trade signals and a 50% bonus. The account manager is replaced with an executive account manager who may be more experienced in managing your account. The executive manager may offer you professional advice on the best ways to create an exceptional portfolio for trading transactions.
Every potential investor is expected to have a broader knowledge of the current trends in the financial market. Still, FinexArena has provided a market analyst’s services to assist gold account owners in dissecting the market and come out with effective trading strategies.The minimum you can deposit as brokerage on the account is $10,000, while investors may pay as high as $100,000 with a 2.5 percent interest and a 50% bonus.
- Platinum Account with a 100% Bonus offer
Platinum account holders are expected to have a much higher experience level than other account holders. The platinum account comes with several advanced features that are well suited for top skilled traders. The minimum deposit amount on this account is $50,000, while you may have to pay about $250,000 as the least investment amount. The interest rate for this account is 3.75 percent of the amount deposited.
Owners of platinum accounts may have access to unlimited sessions from their respective account managers as well as professional assistance from a market analyst. The platinum account also offers complete trading signals, which is critical in achieving success in your trade. One other significant feature that comes with this account is the 100% bonus offer that is accrued to you.
- Diamond Account with a 125% Bonus Offer
The diamond account is reserved for traders with very high expert knowledge about trading in the financial market. These are individuals with several years of experience in trading different financial instruments. The minimum amount for the brokerage is $250,000, while that of investment is $1,000,000. You may be able to make monthly interest payments withdrawal at a rate of 3,75%. Diamond account holders on FinexArena have access to all varieties of trading signals.
FinexArena.com is designed with several high-performance tools to enhance your trading experience. The following are exceptional tools that available on the FinexArena trading platform:
- Currency Converter
The currency converter illustrates and facilitates currency conversion based on the current currency exchange rate and other additional charges determined by the Dukascopy bank. The broker supports about ten different foreign currencies with over 22 currency pairs available for trading. Some currencies available on the platform include USD, AUD, ZAR, YEN, and NZD.
- Profit Calculator
It may be challenging to track all trading activities carried out on the platform, especially if there are several open and closed positions. Using the FinexArena profit calculator allows you to have some insights about how to make informed trading decisions. The profit calculator tool is also useful for estimating profits, margins, and trade volumes while also offering users real-time updates on trading activities in the financial market.
- Margin Requirements
The requirements of trade margins include the amount that the trader or buyer pays in cash for opening security or an asset class position. These margin requirements depend on standing policies and may differ from what Is attainable in other platforms.
The margin policies and criteria for FinexArena are in line with the Dukascopy Bank’s margin policy. These policies are put in place to alleviate liabilities and risk during an investment cycle. The margin requirement tool provides room for measuring the smallest equity requirement for an available trading position while the web dashboard tool includes support for measuring leverage-based margins, trading instruments, and market valuation.
- Overnight Swaps
Overnight swaps are used to keep a position on the financial market to enable traders to trade short or long. It is also used by traders to purchase security or assets over a long duration. These positions may stay open for some time, and if the window period is to be extended, the trader is paid interest. Overnight swaps depend positively or negatively on security or asset prices involved in a trading session. It has to be subjected to relevant bank policies. The level of trading activity in an account may determine the rollovers on FinexArena.
- User-friendly Interface
A complicated brokerage interface may be difficult for inexperienced traders to navigate their way around the trading platform. It may lead to frustration and could potentially result in bad reviews from dissatisfied customers. The FinexArena’s trading interface is friendly and collaborative for both experienced and new traders. You may find the features easy to use, even if you are a new trader.
FinexArena utilizes encryption layers to make sure that accounts and funds are kept safe. To achieve this, a multi-player authentication system is used to optimize security and safety for customers. The FinexArena network allows the use of VPS hosting services to secure automated trading strategies and minimize the risks associated with losing funds or trading positions to prying hands.
Is FinexArena a Scam?
The criteria used in ascertaining the reliability and legitimacy of any trading platform is how traders in the industry perceive it in terms of security, ease of use, and track record. FinexaArena is said to possess a trusted and legal nature along with a good reputation that makes it a choice for many traders. A broker must be under a regulatory body so that their activities can be monitored. FinexArena is an active member of financial regulatory agencies, which makes it legit.
FinexArena offers a variety of tradable assets such as bonds, indices, stocks, cryptocurrency, and commodities for exchange. FinexArea also provides leverages and other unique features to enable traders to have exceptional trading experience. Endeavor to trade with caution and be sure to have considerable knowledge about the financial market to allow you to make informed trading decisions.