Review on Finam RU

Finam is one of the largest brokers which work in Russia. It has begun his activity since 1994. During this time, Finam has gained a plenty of clients and it has taken a leading positions on the Russian market.

I have made reviews on many projects for investments (among them HYIP projects and pyramid schemes) but in this case the company is dignified to be trusted. Finam is present-day member of scientific association of participants of stock market). It has all the licenses of the Central Bank of the Russian Federation and you can easily check them through the Internet.

Finam is the whole group which includes the investment company, managing company, a studying center, a bank Finam etc. By the way, Just2Trade and investment fund Finam Global are considered as the partners.

In March of 2018 the Rating Agency RAEX (an Expert RA) gave Finam a moderately high level financial reliability of the company ruA (a predict is stable).

In review on Finam with the assignment of the rating the Agency marks that this organization leads in the quantity of registrated clients on the forward market and the quantity of active clients on the fund market and the forward markets. It indicates that negative factors were the quality of some actives (investment trust share of Closed-end Investment Funds), a low covering of clients funds by the highly liquid actives and a not high information transparency (it means a lack of accountability of IFRS – International Financial Reporting Standards). However RAEX praises a diversified client’s base and it marks a growth of incomes and the indicators of effectiveness.

 

The features of the platform

Finam works not only with financial market Forex, it also offers different instruments for investment from securities until raw material such as petroleum and petrol.

There is a single account for traders. This account provides an access to all markets and it relieves a buying and selling of the different instruments. You will have an access to following trading platforms with it:

  • The fund (the main) market of the Moscow exchange;
  • The currency market of the Moscow exchange, for the trading of currency pairs;
  • The section of the forward market FORTS, for the trading of futures contracts and options;
  • American exchanges NYSE, NASDAQ, CME and ICE;
  • The public joint stock company “St. Petersburg exchange”;
  • The Petersburg international trading – raw materials exchange;
  • National trading exchange

A commission for clients’ accounts is divided into types:

  • Depository;
  • Brokerage.

Depository commission is charged one time in month in the amount of 177 rub, if there have been the operations on your account during the month. Brokerage commission depends on the accepted tariff plans. So, in the rate “Day” it is calculated on the basis of the volume of business but it is not less 41, 3 rub for the one operation. You can find a list of rates here.

In addition, there is also a commission for the operations on the forward and the currency markets of the Moscow exchange. If you begin to work with a certain platform you will need more detailed information.

The sums also can be paid with the entering and withdrawing of funds. In case, if an account replenishment will be done from the bank card and a withdrawal will be in the currency which differs from rub.

There are available programs for trading:

  • Transaq;
  • FinamTrade (it also includes a mobile version); and
  • QUIK

The connection of MetaTrader 5 is planned in the near future. I should mark that every trading company provides their clients an opportunity to open demo-account for the term of three months, in purpose to test the functions and to studying trading.

When you have mastered a demonstration account you have to pay for the opportunity of a real account opening. The barrier to entry is 30 000, after that the access is opened to all Russian and foreign exchanges through the single account.

Of course, there is a function of autofollowing (it is when you repeat automatically the operations of the chosen more experienced trader). But I should say that you can use this function only after connection to the system Comon.ru.

 

The currency trading

The platform MetaTrader 4, which is famous for many people, is provided on Finam for the currency trading. 26 currency pairs are available but it is enough as for beginner as for experienced traders. The maximum for all pairs: 1:47.

It provides an opportunity to open at first a demo-account just like on the forward market. The start sum on the account will be 100 000 rub in this case. You can withdrawal your funds only in cashless way through the bank account. The funds will be on the account not later 1 day from the moment of sending.

The withdrawal is available only through the order which can be given in the personal account or in the office of Finam. You do not need to pay commission with the withdrawal of funds (except the commission banks-mediators if there are such banks).

 

Conclusion

Finam is one of the leaders of the financial market of brokers providing all necessary instruments for the successful trading. You can trade on the forward market or on the currency market of Forex.

Besides, Finam takes care of its beginners and it offers them a plenty of studying ways in addition to demo-accounts. The studying seminars about basics of trading are free available. You can observe the work of professional traders online and ask questions in Trading Hall. Sometimes there is an opportunity to watch more in-depth video-seminars about different topics.

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