As a newbie to the digital currency scenes or would-be trader, choosing a platform that deals with the contingencies and discrepancies in trading is paramount. FinexArena is a digital trading platform that extends its services to Forex brokers and premium crypto trading.
Launched as a manager for venture capital funds, FinexArena has built its reputation as a digital brokerage and flexible trade platform. It has through years of offering trading services to both institutional and retail investors become a key player in the global Fintech revolution.
Leaning towards the diversities in advances in technology, FinexArena extended its services to cryptocurrencies while harnessing cutting edge technologies to provide the world with advanced payments and trading solutions.
Today, this digital exchange has developed several options to help both Forex and crypto traders overcome lags such as insecurities, high trading fees and confirmation time as well as long KYC verification issues.
In this review, we try to highlight everything you need to understand about the range of services offered by FinexArena and how best it works:
FinexArena at a Glance
|Minimum Initial Deposit||$250|
|Asset Coverage||Forex, CFDs on Commodities, Indices and Shares, Cryptocurrencies|
|Trading Platforms||MT4 Webtrader, iPhone Trader, iPad Trader, Android Trader, Desktop Platforms|
|Account Types||Basic, Silver, Gold, Platinum, Diamond|
|Tools||Overnight Swaps, Currency Converter, Profit Calculator, Holidays Calendar|
Why was FinexArena Launched?
In response to the rising demands for resources and options for leveraging and secure trading of cryptocurrencies as well as other financial products, FinexArena was launched in 2018.
As a digital foreign exchange broker, it focuses its research on global financial inclusion through the introduction of mobile and web trading options.
In accordance to this, FinexArena launched its mobile app adapted for iPhones, IPads and Android OS while enabling a user friendly interface on web to improve access to its services.
Today, FinexArena works at bridging the gap between the crypto world and mainstream financial scenes by providing a regulated environment through crypto products and derivatives can be traded.
Consequently, it boasts of over 200 trading instruments offered to its users and has a portfolio of about 69.1 million orders and trading volumes worth over 1.82 trillion USD.
FinexArena provides unique features to enable easy transition for would-be investors while providing avenues to deal with liquidity and volatility issues faced by the market.
What Unique Features Does FinexArena Offer?
Multi Payments Methods
FinexArena aimed to provide clients with a matchless trading experience with easy access to its offers. With this in view, it integrated diverse payment options as well as a digital cashier onto its platform to further improve execution and progression of transactions.
With swift withdrawals and depositing of funds into accounts one of its goals, FinexArena enables a wide berth of straightforward options. Clients can now use credit cards, MasterCard and wallets for payments and withdrawal.
The uniqueness of their enabled payments method is that the system is designed to cut down on the length of processing time while making the service free. However, withdrawal and deposit time vary with the financial institutions and card issuers.
The processing is also dependent on the choice of contracts, account and portfolio of the clients. For ease, FinexArena bases some of its online trade rates on the Dukascopy Bank policies.
|Payment Method||Wire Transfer||Visa||MasterCard||Wallet|
|Minimum Deposit||300 USD/EUR||300 USD/EUR||300 USD/EUR||300 USD/EUR|
|Minimum Withdrawal||Based on Portfolio/Contract||Based on Portfolio/Contract||Based on Portfolio/Contract||Based on Portfolio/Contract|
|Withdrawal Time||2-15 Working Days (based on the bank)||2-15 Business Days (based on card issuer)||2-15 Business Days (based on card issuer)||Same business day|
|Deposit Time||2-15 Working Days||Up to 30 minutes||Up to 30 minutes||Instant|
Security and Safety of Funds
Leap forwards in technology has made it such that the security of digital platforms are subjected to more advanced vulnerabilities exploited for malicious purposes. As a result, digital platforms are faced with responsibilities of keeping their systems from prying hands and eyes.
FinexArena employs layers of encryption to ensure the security of funds as well as accounts. It entails multi-layer authentication to ensure that customer and account privacy and protection is ensured.
It also has enabled on its system VPS hosting that helps to keep automated trading strategies secure to minimize the risks of losing trading positions or funds to prying hands.
As an investor with aims of maximizing profit, FinexArena provides several options that allow traders on its platforms access markets. It avails clients of Forex brokerage services on commodities, indices and shares while giving them the opportunity to harness the benefits of derivative trading through its CFDs.
CFDs are products that provide traders and investors with the opportunity to maximize profits through market analysis and predictions. They are launched as contracts between a buyer and seller that dictate payment of differences between strike prices of an asset and its valuation at a stipulated point.
To many, these products are considered risky due to unpredictability in market movements. FinexArena however works at mitigating a part of the risk with tools that enables clients to watch and manage market movements as well as relevant lines closely.
Though not entirely focused on digital currencies trading options, FinexArena also provides crypto trading with a robust secure environment for thriving and has to its credit several cryptocurrencies.
It features about 29 cryptocurrencies on its trading platform including Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), Litecoin (LTC) and Cardano (ADA).
User-Friendly Interface and Customer Support
Having to navigate through the complexities and intricacies of trading platforms remains one of the biggest challenges faced by traders.
FinexArena however worked at proferring solutions to this issue by providing its clients with a easy-to-use platform that accommodates both newbies and professionals.
From registration, exchange, withdrawal, deposits to trading, FinexArena integrated its system with an online management portal that allows ease in the processes involved. Trading is made easy by its one-click feature.
Also aimed at fostering inclusion, it has a multilingual feature that allows users in Germany and other nations interact with its customer support team.
Leverage on FinexArena
Leverage is one of the most unique features on every trading platform due to its influence on market position, profits and losses. Especially for advanced crypto trading, having a good leverage allows traders to earn more on the platform.
FinexArena provides it traders leverage ranging from 1:1 to 1:1000 depending on the account of choice. With this leverage, you get to pay 1% of your starting price upfront while getting trading power based on your choice.
Leverage allows you to multiply your profits upon trading. For instance, say you invest in an asset valued at $100 as per piece. With leverage up to 1: 1000, you have the power to buy about 1000 pieces.
A simple explanation is that for every $1 in your account, you get $1000 to trade and gain marginally in a thousand-fold. However, leverage trading is a double-edged sword because it is heavily weighed on marker movement.
Hence, trading in a volatile environment without sufficient experience means that you might be setting yourself up for a loss. It is therefore to carefully weigh options and view trading margins before taking such risks.
This is perhaps one feature that sets FinexArena apart in a sea of brokers. Acknowledging the benefits of proper education to traders especially those new to the scene, the digital trading platform provides its clients with access to the materials needed to enhance their knowledge.
This feature includes thoroughly researched resources which include webminars, videos and e-books from experts with vast experience and knowledge in financial instruments and innovations.
The information in these resources helps to ease the transitions into newer markets or financial products. Now, traders can magnify their profits while minimizing losses with adequate knowledge gained.
What Tools Does FinexArena Offer?
- Overnight Swaps
Overnight swaps are instrumental in keeping a position for trading long or short in the market. Traders use this tool to buy an asset or security over a period of time. These positions stay open for a certain time frame and the trader gets charged interest when the position is to be held open longer than this period.
For instance, when a trader opens a position that has to be closed at the end of a business day holds this position overnight or longer than the closing day, an overnight swap or rollover is charged.
It could be negative or positive dependent on price of the asset or security involved. In most cases it is also subject to the platform’s Bank policies. On FinexArena, Overnight Swaps are determined by the trading activity level of the account.
This tool calculates swap rates expected to be credited to the account while basing the rollover policy on the percentage of non-rollover trades executed within the last 30 days of request.
This percentages are classified as regular (<20%), advanced (for > 20%) and premium for (>90%) and the rollover conditions are based on these percentages. It is important to note that overnight swap rates on this platform is weighed on the platform’s carry costs as well the target rates of the Central Bank.
- Currency Converter
This tool basically enables and reflects the conversion of currencies of choice based on present exchange rates as well as additional charges by the Dukascopy Bank. FinexArena currently supports about 10 currencies of trade with over 22 trading pairs.
These include the US Dollar (USD), the Euro (EUR), Australian Dollar (AUD), the South African Rand (ZAR), the New Zealand Dollar (NZD), Japanese Yen (JPY), Swiss Franc (CHF) and Canadian Dollar (CAD).
The trading pairs are as follows:
- USD: USD/CAD, USD/CHF, USD/HUF, USD/JPY, USD/MXN, USD/TRY, USD/ZAR
- NZD: NZD/JPY, NZD/USD
- GBP: GBP/AUD, GDP/CAD, GDP/JPY, GBP/USD
- EUR: EUR/AUD, EUR/GBP, EUR/JPY, EUR/USD
- CHF: CHF/JPY
- CAD: CAD/JPY
- AUD: AUD/CAD, AUD/JPY, AUD/USD
- Profit Calculator
In the long run, it could become difficult to keep track of trade performances on the platform especially when keeping many positions open and closed. FinexArena features a profit calculator that gives user insights into the performances while allowing them to make optimal trading decisions.
This tool calculates profits, trading volumes as well as margins while offering real-time updates on spot prices.
- Margin Requirements
Trade margin requirements provide information on the percentage that must be paid by the investor or trader in cash on an asset class or security to open a position. Consequently, these requirements vary with every platforms and are dependent on set policies.
For FinexArena, margin requirements and policies are shaped by the Dukascopy Bank SA margin policy. This is set in place to mitigate risks and liabilities during the period of investments.
Therefore, this tool enables proper calculation of the minimum requirements on equity for a position to be open for trading. The web widget also provides support for the calculation of margin trading line based on leverage, the present market valuation as well as the instrument of trade.
As a recognized trading solutions platform, FinexArena offers several types of accounts to its clients – which are mostly subject to the experience level of the client.
These accounts are highlighted by minimum deposits, bonuses, leverages, exclusivity of offers and most importantly the level of experience. They include:
- Silver Account
This account is practically the basic level that allows investors and traders especially newbies trade with benefits. This type of account features a minimum brokerage limit of $250 with a minimum of $50,000 on investment.
Investors and traders on this account are open to 20% bonus with a 1.5% interest rate per month for 24 months. Interest withdrawals are applied to investment accounts only and are effected once per calendar year. However, trading signals on this account are limited.
An additional feature on this account is access to free consultation with a personal account manager as well as a one-on-one trading session with a market analyst. This makes it a viable option for beginners.
- Gold Account
For this account, the minimum brokerage limit is $10,000 and investment limit is $100,000. Users of this account have full access to trading signals as well as an assigned executive account manager as for personal account management.
The gold account enables quarterly interest withdrawals with monthly interest rates of 2.5%. The applicable bonus on this account is 50% and investors have the added advantage of having 5 sessions of individual trading sessions with a market analyst. The commitment required by this type of account runs for 12 months.
- Platinum Account
The platinum account works as a slight upgrade to the gold account with an increase of minimum brokerage and investment limits to $50,000 and $250,000 respectively.
While consulting with an executive account manager is open to its users, this account offers unlimited access to individual trading sessions with seasoned market analysts. The bonus open to this account runs at 100% with monthly interest rates at 3.75%.
Users are also open to full trading signals with interest withdrawals stipulated to take place once in every calendar year.
- Diamond Account
This account opens full trading signals as well as unlimited trading sessions to its users. The minimum brokerage limit here is $250,000 and investment is $1 million. Like the platinum account, this account offers interest rates of 3.75% with interest yearly interest withdrawals.
The commitment on this account runs for 6 months and clients have the added advantage of having full access to an executive account manager for personal account management. Users are also open to 125% bonuses on offers.
FinexArena also provides traders with fixed spread options for making more accurate trading decisions. This account features more flexible bonus, interaction with personal account managers as well as competitive rates on Forex.
This account offers support for Forex metals, commodities, indices and Share CFDs and is adapted to variable trading platforms featured by FinexArena. It has a fixed leverage of 1:400 with minimum opening and reload deposits of $250 and $50 dollars respectively.
|Minimum Opening Deposit 250|
|Minimum Reload Deposit 50|
|Maximum Total Trade Size 75|
|Account Currency USD/EUR|
|Maximum Number of Open Trades 150|
|Margin Call/ Stop Out Percentage 30/15%|
What Bonus Offerings Do Clients Stand to Benefit From?
FinexArena works at boosting their clients’ confidence by providing several benefits programs which increases interaction with its platforms. As such, clients of different trading levels are rewarded either based on their First Time Deposits (FTDs) or volume requirements.
These bonuses include the Phoenix Recovery Bonus and the Deposit Match Bonus. The Phoenix Recovery bonus takes into account the unpredictability of market movements that could result in heavy losses to compensate its clients.
By meeting volume requirements, clients opting for this bonus options are compensated for capital losses during losses by giving them a recovery bonus of 15%. This account provides a reflection of a percentage of the FTD which translates into the bonus upon request for withdrawal.
The Deposit Match Bonus on the other hand awards 100% credit bonus to the clients which boosts trading volumes and activities on the clients’ account. This bonus is subjected to previous trading activities as well as volume requirements but is easily withdrawn upon satisfaction.
Trading Platforms on FinexArena
The Forex broker and crypto trading platform aims at making trading avenues more accessible to users across the globe while proving them with access to the benefits of technological advancements on financial products.
FinexArena took a step towards achieving this by launching several trading platforms adapted to unifying clients of different technological needs. With a MT4 trading functionality enabled on its platform, users can trade on web browsers and other functional OS.
iPad Trader and iPhone Trader
With an advanced MT4 and Apple iOS-compatible functionality that enables iPad and iPhone users to enjoy the benefits of mobile trading. This trading application features a toolbox widget that allows users access to their orders, trading history, emails and other relevant information.
It is built to provide multi-lingual options to support cultural diversities and multi-panel functionalities to iPad users with support for iPad Retina. With this tool, precise trading decisions are enabled with the integration of technical indicators and real-time information.
Android users are extended trading benefits with the MT4 trading application developed to be adapted to the Android OS. This platform features about 30 technical indicators and 3 chart types for chart trading.
It is also integrated with functionalities that provides its user with real-time and hstroical information of profit/ loss levels, quotes, orders and other data relevant for making informed trading decisions.
It also has an ingrained multi-lingual customer support system and a messaging platform that allows interaction between FinexArena and the client.
While this platform provides key functionalities to enable easy trading, it differs from the other platforms by allowing trading to take place on web browsers of choice from any location across the globe.
It provides users with materials and data for detailed market analysis and trading strategies in a hassle-free way.
As a foreign exchange broker, FinexArena focuses on providing the financial markets with innovative services and a unified environment for interaction with the power of cutting-edge technology.
With a wide range of tools and an easy-to-use interface tailored to ease transition into trading, this platform has developed itself as one to foster inclusion and unify market diversities.
Taking into account the issues faced by the crypto community globally, FinexArena aims to further mainstream adoption with its exchange and educational facility.
Though offers on the asset class remains limited, its crypto trading platform works at providing a secure and standard environment for making informed decisions and coping with the effects of the constant instability in the market.
FinexArena is Swiss regulated platform and recognises the risks factors associated with online trading. Hence, this platform has integrated several tools and partnerships to enable flexibility in trading and improved performances.