Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
OnFin Pros & Cons
OnFin (ECN.Broker) uses ECN technology and direct access to markets and liquidity providers to ensure instant order execution at market prices with no requotes and lowest spread. OnFin gives customers access to trade with more than 260 instruments, here customers can benefit from commissions starting with $0, as well as commission-free deposit and withdrawal of funds. Here at OnFin, cent and Islamic (swap-free) accounts are available.
TU Expert Verdict
OnFin carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
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OnFin User Reviews
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5-star
13%
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4-star
7%
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3-star
73%
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2-star
7%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria10 /10The trading and non-trading commissions of OnFin have been analyzed and rated as having Low fees, with a fees score of 10/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
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Is OnFin Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria2.5 /10OnFin has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 11 years
- Not tier-1 regulated
- Not regulated
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.9 /10OnFin offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Micro, Swap Free, VIP, Managed.
OnFin covers the core account types, making it convenient for traders with different preferences and strategies.
- Exclusive VIP account with enhanced trading conditions
- Tight spread ECN account
- Cent account for beginners
- Complex account structure
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.8 /10OnFin received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.3 /10OnFin offers a limited selection of trading assets compared to the market average. The platform supports 260 assets in total, including 52 Forex pairs.
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Trading Account Opening
We successfully registered an account with OnFin in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at OnFin is $1.Score:We evaluated Trading Account Opening at OnFin by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.2 /10OnFin received a score of 7.2/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
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Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria2 /10 -
Customer Support
Score:We evaluated Customer Support at OnFin by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria3.2 /10
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OnFin Video Guides
FAQs
What does the low safety score say about OnFin’s regulation and risk level?
OnFin has a safety score of 2.5/10 and is described as a low security level broker, with the review explicitly stating that it is not regulated. The section notes that unregulated brokers may involve higher risks such as lack of investor protection, higher fraud risk, and no guarantee of withdrawals, and it advises considering these factors carefully before deciding to work with such firms.
How competitive are the trading and non-trading fees at OnFin?
The review rates OnFin’s overall fee structure at 10/10, indicating low trading and non-trading fees, including tight EUR/USD spreads and the absence of deposit, withdrawal, and inactivity fees. For example, standard account EUR/USD spreads are listed between 0.4 and 1.0 pips, while RAW/ECN accounts show an average EUR/USD spread of 0.1 pips with a $1.5 commission per lot.
What do user reviews and ratings indicate about overall satisfaction with OnFin?
OnFin has a user satisfaction score of 6.5/10 based on 14 reviews, with most ratings clustered at 3 stars (73%), and smaller portions at 5 stars (13%), 4 stars (7%), and 2 stars (7%), and no 1-star ratings. According to user reviews, this distribution suggests a generally mixed experience, with neither strongly positive nor strongly negative consensus.
Which markets and instruments can be traded with OnFin, according to reviews and analysis?
OnFin supports 260 tradable assets, including 52 forex pairs, along with access to stocks, commodity futures, cryptocurrencies, and stock indices, but no ETFs or options. The section notes that its overall asset selection is limited compared to the market average, although it does offer a copy trading platform as an additional investment option.
What trading platforms and tools do reviews highlight for OnFin users?
OnFin provides access to the MT4 platform with features such as one-click trading, support for trading bots (EAs), 2FA, alerts, and 68 built-in indicators, and it supports 260 tradable assets on this platform. Based on user feedback summarized in the review, additional tools include free VPS and API access, while some advanced options like TradingView integration, a strategy (EA) builder, and a proprietary platform are not available.
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