Finopex Review

Introduction

Finopex stands for First Internet Options Exchange. This binary options broker is one of two binary options companies owned Afact Solutions Ltd. This company is located in the British Virgin Islands. This is the binary options brand that Afact tied to the Tech Financial platform.

Trade Types

The following trade types are available on the Finopex platform:

a)      High/Low: The only trade type offered here is the High/Low trade, betting on the asset ending higher or lower than market price. The Above/Below variety found on other Tech Financial broker partner platforms is not available here.

b)      One Touch: This is a Touch/No Touch trade contract.

c)      Boundary: This is strictly an In/Out trade.

Notice that the high yield touch and high yield boundary trades are not offered on Finopex.

Asset Index and Expiry Times

There are four asset classes that contain underlying assets on which traders can bet on. These are:

–          Commodities:  Only crude oil and the spot metals are traded here.

–          Indices: The stock indices traded on Finopex are those of Spain (IBEX35), Franc (CAC40), UK (FTSE), Israel (Tel Aviv 25), Japan (Nikkei 225), Switzerland (SMI), Singapore (Straits Times), the US (NASDAQ, S&P500, Dow) and Hong Kong (Hang Seng). Only the futures contracts on these assets are available for trading, meaning that traders do not need to wait for the trading times of the underlying exchange to trade the indices.

–          Stocks: Apple, Barclays, BP, France Telecom, Google, Societe Generale, and Sony Corporation.

–          Currencies: The majors (EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF, USDCAD) and some exotic pairs such as USDTRY, EURGBP, EURJPY, EURTRY, USDNOK, EURNOK and EURCAD.

Trade Requirements

The minimum amount that can be deposited to a Finopex trading account is $200. Three methods of transaction are available on the Finopex platform. These are:

1)      Bank wires: This is the most widely used method with global acceptability. All withdrawals with bank wires attract a $30 surcharge.  Withdrawal amount starts from $250.

2)      Credit/debit cards such as MasterCard, VISA, Diner’s Club and Maestro are accepted. All transactions performed with credit cards on Finopex are free. Traders cannot deposit more than $8000 using credit cards, and all cards used must be verified.

3)      With Moneybookers, traders can use 99 other payment methods as well as credit cards (processed in a third-party manner) for transactions on Finopex.

Traders cannot invest more than $1000 into a single trade, but can invest as low as 25 USD/Euros/GBP. All open positions must not exceed $2,500 in value, though this amount differs from one country to the other. Finopex determines the exposure limits on a country-to-country basis.

There are transaction limits on Finopex. This is pegged at $5000, $25,000 and $75,000 for daily, weekly and monthly transactions respectively.

Customer Support

In order to reach the Customer care department on Finopex, traders and other users must go through the following channels:

–          Live chat: This is accessible from the all pages of the Finopex website.

–          Email: Using support@Finopex.com or the online contact form, traders can reach Finopex by email.

–          Alternatively, traders who want a personal touch can call any of the several phone lines listed: +44 203 051 4838 and +1 631 657 7260.