Pros & cons of Finveo broker

Finveo Fact sheet

When it comes to regulation, Finveo is regulated by the Capital Market Authority of Montenegro (CMA), which complies with ESMA – European Securities and Markets Authority. 

With these many licenses, there is no doubt that Finveo is a legit broker. What solidifies the broker’s reputation even more is its existence which for more than 30 years. 

Despite these factors, we continued to research Finveo’s policies. The broker is part of a compensation fund providing security for investors in case of insolvency. 

All client funds are kept in segregated bank accounts, preventing the employees from touching client money. This is essential security policy and Finveo naturally offers it as a regulated broker.

There is a negative balance protection preventing traders from losing more than their initial investment. 

The broker offers diverse account types to appeal to all kinds of traders with diverse trading strategies and budgets. There are ECN Pro, Platinum, Gold, and Standard accounts with different spreads and minimum requirements. 

Let’s start with the Standard account which is the most popular and budget-friendly option. The minimum deposit starts from 100 USD, but spreads are expensive from 1.6 pips. There are no trading commissions charged for CFD trading and the minimum lot size starts from 0.01 lots. The maximum allowed leverage is highest at 1:500 and hedging is allowed. There is no monthly minimum volume requirement for the standard account. 

What comes after the standard account is the gold account. The minimum deposit requirement starts from 1000 USD, maximum leverage is capped at 1:400, spreads on major pairs start from 1 pip, and there are no trading commissions charged. The minimum lot size is also 0.01 lots or micro lots and hedging is allowed once again.

The platinum account comes with super low spreads from 0.4 pips, but the initial minimum deposit required is set at 5,000 USD which is a considerable amount. The minimum lot size also comes at 0.01 lots or micro lots for the platinum account. No commissions are applied to trading volumes for FX pairs. Hedging is allowed and the maximum leverage is set at 1:200. 

The final and cheapest trading account type from Finveo is called ECN Pro account and it comes from 0 pips spreads on major pairs. The minimum deposit size starts from 5,000 USD, and the maximum leverage is capped at 1:100. As we can see, the more balance you have on your trading account the less leverage you will get with Finveo broker. Trading commissions for FX major pairs is 10 USD per lot traded which is natural as 0 pips accounts usually charge commissions. The one thing is, this commission is more expensive than the industry standard of 7 USD round turn per lot traded. 

Pros & cons of Finveo account types

Comparing Finveo fees with other brokers

Finveo fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Finveo fees compared to CM Trading fees

Finveo fees compared to plus500 fees

Finveo fees compared to XM fees

Finveo fees compared to AvaTrade fees

Finveo fees compared to Capital.com fees

There are two platforms available Finveo MetaTrader 4 and ZuluTrade. Using Finveo MT4, traders can fully analyze financial markets and trade any asset. ZuluTrade is for copy trading and allows Finveo traders and investors to copy other traders’ signals and strategies. Both platforms are freely available for download on the broker website. 

Educational resources offered at Finveo are diverse and rich enabling traders to start from zero and learn all the essentials of financial markets. The resources are abundant and include a trading academy, basic lessons, advanced lessons, eBooks, glossary, FAQs section, and blog. There are also numerous video tutorials and educational videos as well offering valuable information and education to beginners. 

Everyone can use 24/5 support from Finveo and the broker offers multiple channels for full assistance. Live chat is the most efficient way to connect with broker representatives and get quick answers and assistance. All support forms and the website of Finveo are multilingual supporting 5 different languages. Other support forms include phone hotline support, email support, and WhatsApp. 

We checked the support and they are very polite and responsive. The live chat is very quick and it takes seconds to connect with the Finveo representative and get all the information and assistance. A point for this broker in this regard. 

Finveo is a legit broker with multiple regulations and security policies protecting both investors and traders. The broker offers 519 cryptos, 1000 shares, and 60 Forex pairs. With its 30 years of experience, Finveo seems a reliable broker. Diverse account types ensure everyone can find what they are looking for and spreads and commissions although expensive, there is an option for 0 pips accounts. Trading platforms are MT4 and ZuluTrade and multilingual live chat is available 24/5. Finveo educational center is useful for both beginners and experienced traders and there are numerous eBooks.