Financika Review and Tutorial

Financika Trade is an online forex intermediary, offering a scope of financial instruments to the two amateurs and veterans. This audit will direct you through the trading platform, spreads, least stores, and the sky is the limit from there. See whether Financika is the right intermediary for you.

Financika Details

Worked by Sharp Trading Ltd, Financika is enlisted with the Vanuatu Financial Services Commission (VFSC) and furthermore works as a European substance in Cyprus. The organization’s client assistance address is situated in Bulgaria. However, its customers can be found from Europe to Chile, Mexico, Peru, and Colombia.

Trading Platform

Financika offers WebPROfit, a non-downloadable trading platform appropriate for all levels. Highlights of the online platform incorporate progressed outlining instruments, a single tick trading, no slippage, and direct platform support. To get to these highlights, clients should open a record by means of an online structure on the site.

Markets

Financika offers an assortment of items:

• Currencies – Trade 40+ major, minor, and extraordinary currency pairs, including the EUR/GBP and USD/GBP.
• Indices – Trade 7 of the world’s most famous indices, including the FTSE, Dow Jones, and DAX.
• Stock CFDs – Trade on more than 90 worldwide organizations like Apple, Facebook, and Uber.
• Commodities – Trade on gold, silver, oil, wheat, and that is just the beginning.

Spreads and Commissions

For major forex pairs like the EUR/USD and GBP/USD, spreads start from 3 pips – higher than at most different intermediaries. Brent unrefined petroleum is offered at a spread worth of $0.12, while for silver and gold, it goes from $0.04 to $1 separately.

There are different expenses to know about, for instance, a trade charge on positions held for the time being and an altogether high inertia charge of $500, charged quarterly. This is a lot higher than the expenses required against dormant records at different dealers.

Leverage

Leverage at Financika goes from 1:10 on CFD offers to 1:200 on commodities and forex with indices offered at 1:100. These are nice leverage rates and will permit traders to take enormous situations with insignificant capital outlay.

Mobile Apps

Financika offers the WebPROfit platform in a mobile application, permitting clients to deal with their records and spot trades as they travel. Mobile traders appreciate similar highlights as the web platform, including constant statements and outlines, financial news, and quick record observing.

The application is viable with all iOS and Android cell phones and can be downloaded through the Play Store or Application Store. FinancikaTrade.com work area login certifications should work with the portable application.

Payment Methods

Deposits

Deposits can be made by means of MasterCard, bank wire move, and e-wallets (Skrill and Neteller). Note the base store sum for a Visa is $200. Visas and wire moves take 2 – 5 workdays to measure, while deposits through an e-wallet can take up to 5 workdays.

Withdrawals

Withdrawals can be made through similar methods, with a normal preparing season of 4 – 5 workdays. Financika claims they don’t charge for withdrawals. Yet, numerous client audits online recommend otherwise. We suggest alert while considering a representative that has a background marked by awful withdrawal rehearses.

Demo Account

Financika doesn’t offer a demo account. This is a genuine disadvantage as a training account is an extraordinary method to attempt an agent’s foundation, instruments, and client assistance prior to opening a genuine trading account.

Deals and Promotions

Customers are qualified for a week after week rewards, the sum and kind of which will differ every week. Dealers should check the merchant’s landing page for refreshes on these rewards.

New clients get trading credit after opening an account. However, data about join store rewards are limited. In view of that, it merits addressing the client service group, utilizing the subtleties beneath, to discover more. Financika additionally offers dealers speculation insurance on their initial five exchanges, which means amateurs can try things out in a protected trading climate. Note that this protection is dependent upon the particular agreements found on the intermediary’s site.

Regulation and Licensing

Financika (Sharp Trading) Ltd is enlisted and authorized by the Vanuatu Financial Services Commission (VFSC). It likewise works under its European element, Cubbon Services Limited, in Larnaca, Cyprus. Be that as it may, the VFSC is certainly not a very much regarded body, and it’s somewhat simple for a conceivably false organization to get a permit.

Scam Warning

There are numerous client grumblings with respect to scams at Financika. These surveys are especially concerning given the absence of trustworthy administrative oversight. Clients are encouraged to painstakingly think about these warnings prior to trading with the dealer.

Additional Features

Financika offers a Foundation with devices exceptionally intended for novices. Features incorporate a glossary of terms, the rudiments of trading, outlines and specialized examination, in addition to video instructional exercises. However, there are some valuable schooling devices on offer. They are not as complete as those found at different dealers.

Other more pragmatic instruments incorporate money rates diagrams, an everyday monetary schedule, and forex video examination.

Account Types

Financika just offers one standard account, which you can pursue on the landing page. The base store necessity is $200, and the most extreme influence is 1:200. Address the support group for account-explicit inquiries.

Benefits

Benefits of picking Financika include:

• Financial schedule and everyday examination
• Learning community for amateurs
• Individual account supervisor

Drawbacks

There are some significant drawbacks to using Financika:

• Objections and helpless customer audits
• UK customers limited
• $500 inertia charge
• No demo account
• One account type

Trading Hours

Users can exchange forex and items from 22:00 GMT on a Sunday until 22:00 GMT on a Friday. CFD trading hours shift as follows:

• US markets – 2:30 pm – 9:00 pm GMT. Mondays to Fridays
• European and British markets – 8:00 am – 4:30 pm GMT. Mondays to Fridays 
• Asian markets – 0:00 am – 2:00 am GMT, 3:30 pm – 6:00 pm GMT. Mondays to Fridays

Trading hours for singular lists additionally change and can be found on the Lists page on the agent’s site.

Customer Support

Customers can get to all day, everyday support by means of:

• Online request – Contact Us page
• Telephone contact number – +27212004239 (South Africa)
• Email – customer.service@financika.com
• Live chat – logo situated in the base right-hand corner of the site

Financika (Sharp Trading) Ltd is settled at Law Partners House, Kumul Highway, Port Vila, Vanuatu.

User Safety

Financika holds an eTrust seal, which demonstrates consistency with elevated expectations of security and information insurance. Trading frameworks are likewise secured with 128-bit Secure Sockets Layer (SSL) encryption. Yet, because of its absence of guidelines and dubious authenticity, there may, in any case, be a danger to trading with Financika.

Financika Verdict

Despite the fact that Financika offers a good scope of instructive assets for novices, the single record offering and absence of demo account are genuinely restricting. All the more critically, the absence of top-tier guidelines and worries around tricks may dissuade numerous forthcoming brokers. See our rundown of alternatives.

Accepted Countries

Financika acknowledges dealers from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different countries.

Brokers cannot utilize Financika from the US, United Kingdom, Spain.

Alternatives to Financika

In the event that you are searching for alternatives to Financika, we have aggregated a rundown of the top 5 agents that are like Financika underneath. This rundown of specialists like Financika is arranged by comparability and just incorporates organizations that acknowledge dealers from your area.

Fortrade – Fortrade is a multi-resource agent offering a straightforward live record with cutting-edge tools.

Infinox – Infinox is a UK-based agent offering MT4 trading with tight spreads.

Hantec Markets – Hantec Markets is a multi-managed online FX specialist offering MT4 and custom-fitted assistance giving gigantic adaptability to suit any broker.

Global Prime – Global Prime is a multi-managed trading agent offering 100+ markets.

LQDFX – LQDFX offers web-based trading with various STP records and MT4 examination tools.

FAQ

What trading platform is accessible at Financika?

Users can get to web Benefit and portable Benefit. The electronic platform is user-accommodating with numerous graph types, specialized indicators, and single tick trading.

What is the most extreme influence at Financika?

Financika offers the greatest influence of 1:200 on commodities, 1:100 on forex and lists, while influence up to 1:10 is accessible on share CFDs.

What is the base store at Financika?

The base store sum is $200. While not especially high, there are likewise facilitates that acknowledge a lower least store, which may interest new brokers.

Does Financika offer a demo account?

No, Financika doesn’t offer a demo account. This is a significant disadvantage as it implies forthcoming customers can’t test the trading platform or agent’s services.

Is Financika a trick?

Financika professes to be enlisted under the Vanuatu Financial Services Commission (VFSC). Albeit this implies the representative is authorized, the VFSC is certainly not a very much respected body, and there are various grumblings online that the dealer is a trick. Thus, we’d suggest an alert prior to opening a record.