Finam was Russia’s first broker to obtain a Forex trading license. It has been registered with the National Association of Securities Market Participants (NAUFOR) since 1997.
Since it has been on the market for so long, we wanted to learn more about its services. Read this detailed Finam review for more information.
Finam is a brand of Finam Group, containing several entities. The company offers banking, brokerage, asset management services, and more. Finam’s regulation is with the Central Bank of Russia.
Once you log in, you will find that FCSM licenses the company. However, this regulator was dissolved in 2014, and the Central Bank overtook its duties. Therefore, Finam has been under the CBR umbrella since 2015.
There are several branches under Finam Group, including JSC Investment Company, with a license for brokerage activities, and Finam Forex LLC, with a permit to carry out the activities of a Forex dealer.
Let’s see more about Finam’s operations.
Finam is a Russian-based brand owned by Finam Group, containing several entities. The Central Bank of Russia has warned the firm for doing market manipulations.
Finam Holdings has been active since 1994. The company has over 30 branches around the globe, mainly working with customers coming from:
Several Finam trading platforms are on offer – MT5, FinamTrade, and WebTrader.
MetaTrader 5 is the latest and the best product of MetaQuotes Ltd. It has all the charts and indicators you need, social trading, and robotic trading features. The software is fully customizable, and you can adjust it according to your trading preferences. The platform is available as a mobile app for Android and iOS.
FinamTrade is a proprietary software available as a mobile and desktop app and via browser. It has fewer features than MT5 but is helpful for new traders.
Finally, there’s a classic WebTrader with limited functionalities but solid enough for those who prefer to avoid app installation.
You can trade on several markets, including:
Depending on the account type, the broker charges different fees, including deductions, the percentage for shares and bonds, subscription fees for the Investor plan, and more. It all depends on the entity, asset, and account you choose.
You can choose from one of the following Finam account types:
Each of these has different terms. For instance, a Single account brings access to all markets, while the last one is only for US assets. The Individual one is more similar to a savings account as you cannot make a withdrawal for a minimum of 3 years. If you do so, you’ll pay certain penalties.
Yes, you can use the Finam Demo account to test the system. Since this brokerage has various offers and different accounts, it would be good to try it and see what is available.
You will get 400,000 RUB in virtual funds to test the proprietary software, FinamTrade. You can register from your phone or a desktop, fill out the form, and have two weeks free of charge. It’s a bit limiting as you need to decide whether to invest, but since there’s no minimum deposit for a single account, you can start small and slow.
This broker accepts two basic payment methods – debit/credit cards and wire transfers. Additionally, you can transfer money from one account to another within the same company free of charge.
As per Finam withdrawal, money will be returned to the means of deposit up to the deposit amount; then, you can choose any of the viable options.
If you experience issues with Finam or any other trading brokerage, get in touch with Global Fraud Protection. Our chargeback experts will evaluate your case and check if you can legally request a refund.
If so, we’ll assist you with the first steps. You’re not alone, don’t give up!
Finam is a broker regulated by the Russian Central Bank. In case of any issues, we might be able to assist you.
Yes, Finam offers a proprietary mobile app for Android and iOS.
Finam offers a risk-free Demo for up to 2 weeks.
Finam is a broker regulated by the Russian Central Bank. In case of any issues, we might be able to assist you.
Yes, Finam offers a proprietary mobile app for Android and iOS.
Finam offers a risk-free Demo for up to 2 weeks.
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