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Independent rating of Forex broker Finam

7/10 (votes 100)

On-line since
2012
Country of origin
Russia
Regulation
Cyprus Securities and Exchange Commission (CySEC)
Payment options
WebMoney, wire transfer, credit/debit cards
Minimum account size
$10
Minimum lot size
0.01 lots
Leverage
up to 1:500
Spreads
from 1 pip
FINAM is a popular and widely recognized Russian brand that belongs to Finam Holdings. Finam Investment Company is one of the oldest participants of the foreign exchange market in Russia as the history of this financial holding started over 15 years ago. The brokerage company can boast an impressive trading turnover on the Russian stock market. According to experts’ estimates, FINAM controls 18% of the country’s brokerage market and takes the lead in stock market turnover among other Russian investment brands.
The company considers high-quality customer service its top priority. FINAM was proud to receive several prestigious awards including the Financial Elite of Russia award. Moreover, the broker was recognized as the most customer-focused organization operating in the currency exchange sector. FINAM’s branch offices can be found in 90 Russian cities.
FINAM is a member of NASDAQ, the US electronic stock exchange. It has representative offices in the United States and the European Union as well as the largest countries of Southeast Asia. The broker facilitates trading operations with Russian securities conducted by Japanese and Chinese investors.
The brokerage company provides its clients with a wide selection of trading platforms including QUIK, MetaTrader 4, MetaTrader 5, Multi Exchange, FinamTrade, Transaq, HFT, Livetrade Professional, and Volfix.

Comments

Author: Lobisra Date: 2021-01-12 07:32:25 (UTC+3)
I tested Finam for 3 months. I was invested $360 and star trading with them. As I am a scalper, this the finest broker for me. Had open short on USD/CHF pair during the last Fed Chair Powell Speaks, the orders was flawlessly executed although I entered a second after the release, managed to earned 74 pips with 2 lot. TP was triggered properly with 12 pips positive slippage which was also credited to my account. Their platform is ideal for news trading. Now, they are under the regulation of Cyprus Securities and Exchange Commission, I feel confident invest more with them.
Author: Neviel Date: 2020-11-05 06:46:16 (UTC+3)
I don't know what's wrong with my account but recently, there has been a lot of glitches in my client portal. My account balance kept changing even though I am not doing any trade. I already reported it to the support team but I don't know if they are doing something about it now. I can't make a trade now because I don't know anymore how much I really have in my account.
Author: Jadd Date: 2020-09-23 06:30:50 (UTC+3)
It's so uncomfortable trading with Finam. Their platform is worst, I lost $155 in single trade due to their worst execution and insane spreads. Their system also down often and it always takes time to fix it. Their customer service also very ignorant and not helpful at all. I can't trust my trading to them and I decided to close my account at this broker. It's only wasting money and time here. For traders who want to join this broker, it's better to think further.
Author: Ricky Date: 2018-06-16 06:13:48 (UTC+3)
I had a friend reach out to me on finam crypto side and she. Asking for a withdrawal it was a struggle the second time after investing over 40k I was told all the company could do was 15k after sent i told finam (Raymond fortson) that we wanted to see full amount he lost it took $97,000 and blocked me so I could not communicate with him this is %100 a scam I have all the proof in the world please reach out to me before using this company kuhrricky@gmail.com
Author: anwar Vh Date: 2016-08-25 03:27:25 (UTC+3)
My orders were cancelled today! Had to review my trading history to know the reason behind this and I am also expecting their end that they'll investigate this matter otherwise I will withdraw my deposits and close my accounts.
Author: fxtosin Date: 2016-08-09 16:22:43 (UTC+3)
I don't recommend this broker at all, the charge for minimal account is just too high, their platform is too difficult ,and very bad when it comes to execution . They are totally unprofessional.
Author: Cahill Date: 2016-08-09 15:03:27 (UTC+3)
Personally, I don’t like it, when brokers mess up with trader’s accounts and then don’t explain what and why happened. Plus the whole service was not running smooth. I won’t be depositing more money here.
Author: Sobechi Date: 2016-07-21 01:07:06 (UTC+3)
when you are trading with bonus they will disconnect your paltform many times,when you do compounding or anything else which make you gain much profit they will cancel your profit.
Author: pipcupcupap Date: 2016-06-24 02:29:42 (UTC+3)
Finam have made me disappointed because my request to profit withdrawal was no response at all. I also tried to contact their support department but there was no response too, either through email or through call center, they seem didn't helped me to withdraw or at least provide a solution to me what should I do.
Author: Kronos12 Date: 2016-06-14 04:22:12 (UTC+3)
I've been using Finam for quite a while. Spreads are somewhat tight but taking into consideration the poor execution of the trades. Terrible slippage issues because their feeds are delayed and by the time the trade gets executed, it’s too late. Their server is too leggy. Support isn't always the best.

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