Both experienced traders and amateurs in the financial market have to make a very important decision of an online broker to register with in order to trade conveniently in the market. Most times, this proves to be a very tough decision to make seeing that there are many brokers in the industry.
However, a careful and diligent search may be just what you need to make the right decision. FinexArena is one of the many brokers you might come across within the course of your search.
What actually makes this broker different from the other brokers? Is it reliable? Does it have the necessary tools needed to make trading a thrilling experience in addition to maximizing profits? All these and many more are the questions that this FinexArena review will provide answers to and help you make a wise choice.
All You Need To Know About FinexArena
FinexArena was launched in 2018 by a group of seasoned traders in the financial markets. It is an innovative foreign exchange broker that gives traders from various locations across the globe access to sophisticated retail and institutional trading conditions.
The broker was created as a result of the increasing decline in the number of reliable brokers in the market. There was a high demand for secure trading conditions and better leverage options in the trade of foreign currencies, cryptocurrencies, and many other digital assets.
FinexArena has been able to attain a measure of popularity ever since its launch due to the successful manner in which it has bridged the gap between the traditional financial markets and the fast-evolving cryptocurrency industry by providing advanced trading conditions for clients to trade on crypto assets.
The FinexArena trading platform could be a wise choice of brokerage service for any trader that wishes to have a diversified portfolio as the broker offers more than 200 financial instruments that traders can use to carry out trading activities.
Let us examine some of the unique features that FinexArena has that has been able to set it apart from the other online brokers in the market.
Diversity Of Trading Products:
FinexArena is concerned with helping its clients to maximize their profits and in order to do that it provides traders with a variety of trading products, thereby, helping them to diversify their portfolio and at the same time, maximize their profits from each market.
The broker gives you the option of trading in the forex market, the most liquid financial markets in the world, trading on various currency pairs such as USD/JPY, USD/CAD, EUR/AUD, and EUR/USD. You can also trade on different commodities such as gold, silver, etc.
You have the option of trading on the shares of various multinational companies, trading on indices as well as derivatives trading using Contract-For-Differences (CFDs).
CFDs are products that afford you the opportunity of maximizing your profits by analyzing the various market movements and making predictions based on your analysis. They exist as contracts between a buyer and seller that stipulates the payment of the differences between strike prices of an underlying asset and its valuation at a given point.
Trading on CFDs is very risky because of the high volatility of market prices. However, FinexArena provides you with a list of tools that can help you to closely monitor specific market trends, thus, enabling you to make smart trading decisions.
FinexArena also grants its clients access to the fast-evolving cryptocurrency industry by providing about 29 different cryptocurrencies including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Stellar (XLM) and many more.
The broker is of the view that providing a diversity of trading products will help traders to take advantage of the various markets and assets in order to maximize profits.
Online trading comes with a lot of security risks. There is the problem of the security of funds and personal clients’ information. With the advancement in technology, online trading platforms are at a greater risk of being hacked by cyberthieves.
Therefore, every online trading platform is faced with the responsibility of keeping their systems as secure as possible to prevent the activities of these hackers. FinexArena is very concerned about the safety of clients’ funds and personal information and for this reason, it has put several strict security measures in place to ensure that they are kept safe.
The broker has employed some of the best encryption methods in a bid to keep clients’ accounts safe. These encryption methods involve a multi-layer authentication process that makes for the safety of funds and account privacy.
FinexArena has also incorporated VPS hosting on all of its systems and this helps to secure automated trading strategies in order to avoid creating loopholes that cyberthieves can take advantage of.
The broker has provided its clients with about four different trading platforms, aimed at providing traders, both old and new, from various locations in the world with amazing trading experience.
These trading platforms provide traders with various devices and trading signals that help them to make informed trading decisions and at the same time, make profits from their investments. Let’s look at the various trading platforms that FinexArena has provided for its clients.
The MetaTrader 4 platform is the leading platform that is used by traders, institutional, and retail investors in the financial market. With a user-friendly and multilingual interface, you can be able to trade easily and comfortably using the MetaTrader 4 platform.
This trading platform has a high performance, reliability, and security, among other features and all these, make it to be one of the most popular trading platforms in the financial market. The MetaTrader 4 platform is available for download on Android and iOS devices and it is also compatible with your desktop browsers.
This trading platform enables you to trade conveniently with the same advanced functionality as the MT4 trader and several other features that seek to make your trading experience a thrilling one.
Using the iPhone trader, you can be able to place both instant and pending orders, modify your open positions, view and analyze your trading history, in addition to a dynamic account overview, which provides you with open positions, pending orders, balance and account equity.
You can download the FinexArena iPhone trader app on your iOS-enabled device to enjoy these features and trade easily.
The iPad trader enables you to trade directly on the chart with about thirty popular indicators by means of a new multi-panel user interface, which displays about four charts in one window.
You can also be able to place different types of pending orders with the iPad trader, which comes with access to the MT4 internal mailing system, multilingual support, and an intuitive interface.
Users of Android are not left out, as the broker has incorporated some of the various features that are also available on its other trading platforms into the Android Trader platform.
This trading platform can be accessed by users of Android devices. You can gain access to a wide variety of features such as real-time quotes, a full range of trade orders, and trading tools that offer you efficient and seamless trading sessions.
FinexArena has the goal of offering traders the best trading experience possible and one of the ways that it seeks to achieve this goal is by providing a variety of avenues that are both convenient and fast, through which clients can be able to fund their accounts.
You can deposit funds into your FinexArena trading account by means of a card, both Visa and MasterCard, by a bank wire transfer and blockchain transfers using the Bitcoin deposit option. The minimum deposit that you can make using all of the above-mentioned ways of funding your account is 300 USD.
The deposits that are made via blockchain transfers, using the Bitcoin deposit option reflect on your account instantly while deposits made using both Visa and MasterCard take about 30 minutes to reflect on your account. On the other hand, deposits made with bank wire transfer can take about 2-15 business days.
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. There are no deposit fees charged on the three funding methods.
When it comes to the withdrawal of funds, you can also withdraw money from your account using the same methods that apply to deposits. When withdrawing funds using either Visa or MasterCard, it takes about 2-15 business days for the transaction to be completed depending on the card issuer, and the minimum withdrawal depends on your portfolio.
The same amount of time might also be taken when making withdrawal via bank wire transfer but this is also dependent on the bank that you are operating with. On the other hand, withdrawals made via cryptocurrency wallets can be completed on the same day.
Leverage trading is a very unique feature that traders can utilize to make more profits from their trades. It exacts an incredible influence on market positions, profits, and losses. Trading with leverage enables you to take certain positions in the market that you would otherwise not have been able to take.
The broker provides you with leverage options ranging from 1:1 to 1:1000 and the leverage option you can have access to is solely based on the type of account that you have. Leverage trading affords you the opportunity of multiplying your profits while trading with a small amount.
However, leverage trading comes with its own risks as the financial market is very volatile and unpredictable. Although trading with leverage can enable you to make huge profits, it is also vital to note that you can lose virtually everything that you have invested if the market conditions are unfavorable.
Therefore, it is very important to get the necessary information about how trading with leverage works, then examine your options and view the trade margins before making use of leverage trading.
A Wide Range Of Trading Tools:
The broker provides you with several edge-cutting tools that are designed to greatly improve your trading experience. There is a list of these great trading tools on the FinexArena platform, however, let us take a look at just a few of them.
- Currency Converter
This is one of the amazing tools that the broker provides you with to enable you to trade seamlessly. The tool, just as the name implies, enables you to convert any trading currency of your choice based on the most recent exchange rates.
However, it is also very important to note that there are additional charges added to the amount that will be shown to you, and that is the commission taken by the broker’s bank, Dukascopy bank, for the conversion. There are a variety of currencies that you can trade on using the FinexArena trading platform such as the US dollar (USD), the Australian dollar (AUD), the Japanese yen (JPY), and many more.
- Profit Calculator
Most times, it becomes quite a challenge to keep track of all your trading activities on the platform and this is especially difficult when you have several open and closed positions. The broker tries to alleviate this problem by providing you with a profit calculator.
The FinexArena profit calculator gives you insights into the performance of these open and closed positions and allows you to make informed trading decisions. The profit calculator tool also helps you to estimate profits, margins, and trade volumes while also providing you with real-time updates on trading activities in the financial market.
- Margin Requirement
In order to prevent clients from incurring liabilities that are higher than their equity in trading and the subsequent risks that will be associated with Dukascopy bank, the broker put this tool in place so as to calculate the minimum equity that is required for a client to open a position. The trading margin requirements help to provide you with information on the amount that you can pay in cash in order to open a position.
These margin requirements are solely based on the margin policies of Dukascopy bank and as such, they may be very different from the margin requirements of other brokers. The web widget also includes support for measuring the trade margins based on leverage, trading instruments, and the current market valuations.
FinexArena is a broker that is concerned with providing its clients with secure trading conditions and access to various financial markets with a variety of assets to trade on. There are advanced tools provided to enable you to make smart trading decisions.
With an intuitive interface on its trading platforms and top-notch security, once you sign up with FinexArena, you will experience the thrills of trading in the financial market and at the same time, make profits from your investments.